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Business Statistics
Question 1
- Compute the weighted mean for the following data.
Question 2
- If P(A) = 0.50, P(B) = 0.40, and P(A ∪ B) = 0.88, then P(B | A) =
Question 3
Six vitamin and three sugar tablets identical in appearance are in a box. One tablet is taken at random and given to Person A. A tablet is then selected and given to Person B. What is the probability that
- Person A was given a vitamin tablet?
- Person B was given a sugar tablet given that Person A was given a vitamin tablet?
- neither was given vitamin tablets?
- both were given vitamin tablets?
- exactly one person was given a vitamin tablet?
- Person A was given a sugar tablet and Person B was given a vitamin tablet?
- Person A was given a vitamin tablet and Person B was given a sugar tablet?
- For these project assignments throughout the course you will need to reference the data in the ROI Excel spreadsheet. Download it here.
Using the ROI data set:
- For each of the 2 majors calculate the mean, median, minimum, maximum, range, and standard deviation for the columns and 30-Year ROI.
- By hand or with Excel, for each of the 2 majors calculate the probability that a college picked from the column for School Type is ˜Private.
- By hand or with Excel, for each of the 2 majors find the probability that a college with the ‘School Type Private has a 0-Year ROI between $1,500,000 and $1,800,000.
