A local university found it could classify its students into one of three genera

Question

A local university found it could classify its students into one of three general categories: morning students (47%), afternoon students (35%), and evening students, 38% of the morning students, 27% of the afternoon students, and 15% of the evening students live on campus Question 1 What is the probability a non-Morning student does not live on campus? Of 42 bank accounts at a small bank, 20 accounts have values of less than $1,000 and the rest have values of at least $1,000. Suppose 5 accounts are randomly sampled. (See exercise 9 on page 189 of your textbook for a similar problem.) Question 2 What is the probability that exactly 4 of the 5 accounts have values of at least $1,000?

Explanation / Answer

Ans 1)

Non Morning students = Evening Students & Afternoon students

73% of the afternoon does not live on campus, 85% of evening students do not live on campus

= 0.73*0.35 + 0.85*0.18 = 0.4085

Ans 2)

Probability of 4 accounts having at least 1000$ = choosing 4 accounts 22 bank accounts (having at least 1000$) and rest 1 account must be chosen from other 20 accounts)/ Total ways of selecting 5 accounts from 42 accounts)

This can be done as follows

= (22C4 * 20C1) / 42C1

=0.1719

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