5) Solve the following (10 pts): A) Does it pay to ask for a raise? A national s

Question

5) Solve the following (10 pts):

A) Does it pay to ask for a raise? A national survey of heads of households showed the percentage of those who asked for a raise and the percentage who got one. According to the survey, of the men interviewed, 18% had asked for a raise and 65% of the men who had asked for a raise received the raise. If a man is selected at random from the survey population of men, find the following probabilities. (Enter your answers to three decimal places.)

(i) P(man asked for a raise)


(ii) P(man received raise, given he asked for one)


(iii) P(man asked for raise and received raise)

B) A stationary store has decided to accept a large shipment of ball-point pens if an inspection of 19 randomly selected pens yields no more than two defective pens.

(i) Find the probability that this shipment is accepted if 5% of the total shipment is defective. (Use 3 decimal places.)


(ii) Find the probability that this shipment is not accepted if 20% of the total shipment is defective. (Use 3 decimal places.)

Explanation / Answer

Ans:

A)

i)P(asked for raise)=0.18

ii)P(recieved raise/asked for raise)=0.65

iii)P(recieved raise and asked for raise)=0.65*0.18=0.117

B)

i)n=19,p=0.05

using Excel function:

P(x<=2)=BINOMDIST(2,19,0.05,TRUE)=0.9335

ii)P(x>2)=1-P(x<=2)=1-BINOMDIST(2,19,0.2,TRUE)=1-0.2369=0.7631

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