PLEASE DO THE WHOLE PROBLEM A local university found it could classify its stude

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PLEASE DO THE WHOLE PROBLEM A local university found it could classify its students into one of three general categories: morning students (47% afternoon students(30%), and evening students, 34% of the morning students, 27% of the afternoon students, and 14% of the evening students live on campus. Quetion 2 What is the probability a non-Evening student does net live on campas of 49 bank accounts at a small bank, 26 accounts have values of less than $1,000 and the rest have values of at least $1,000. Suppose 4 accounts are randomly sampled. (See exercise 9 on page 189 of your textbook for a similar problem.) Question 2 Whet is the probebi ty that exactly 3 of the 4 acoounts have values of at least $1,0007 ABC Manufacturing has a policy that it will reject a shipment of parts from its supplier it inspectors find any defective parts in a random sample of 5 parts from the shipment. The supplier has been in business many years and has a long-term defective rate for parts of 4.9%. Queston 3 whatsther probabity that ashpmentwil berejected aheragven sample of parts Cooper Realty is a small real estate company located in Albany, Now York, specializing primarily in determining the likelihood of one of its Eistings being sold within a certain number of days. (See exercise 56 on page 205 of your textbook for a similar question.) Use Cooper's data in the HomeSales sheet in this workbook to generate excel output to answer the following questions. Put the output in given space on HomeSales sheet. Each orange numerical answer cell below MUST reference generated Excel output cells in the HomeSales sheet. Cooper is interested in Question4 Wht is the probablity a selected home's initial asking price is over 53m.9 Queition 54 Wha is the probability a selected home'sineialaking price is at lease $350,000 and tes under 30 days uestion 58 Event A-Selected hones intal aking price is at lest $150,000 Event B Selected heme takes under 30 days to sell If indepandest Queston 6 a selected home takes under 30 days or over 90 days to selL wnats the probab.ty its 6ntial asny price sner s200.000 or over S250.000, Quition 7 Wht is the probability a selected home takes over 90 days to sel estion Assamingselected home's initial asing pncert under Sisa,000, what is the probablity t takes 30 days or mcreto ter? estion S Wht is the probability a selected home takes at most s0 days to sell and its intial asking price is between $150,000 and $230,000 Qsestion 98 Eve Selected home takes at mest 90 days to sell vant Salected home's initial asking price i betweon $250,000 and 52000 Are events A and B mutualy escluve Prove using your answer to SA Lecell 19 If mubually exclusive, Question 10 Gven a selected home's invtial asking price is No less than $150,000, what is the probalbity it takes0 days or loss to seil Question 11 Wht is the probability selected home takes lant 30 days to sell or its initial asking price is under 5200,000 KEY Price1-Under $150.000 Dayst-Under 30 Price2-$150,000-$199,999 Day 2-30-90 Price3 $200,000-5250,000 Days3 Over 50 Price4 Over $250,000

Explanation / Answer

Question 1:
P(M) = 0.47 and P(C|M) = 0.34, P(C'|M) = 1 - 0.34 = 0.66
P(A) = 0.3 and P(C|A) = 0.27, P(C'|A) = 1 - 0.27 = 0.73
P(E) = 0.23 and P(C|E) = 0.14

Probability that a non-evening student does not live on campus = P(M)*P(C'|M) + P(A)*P(C'|A) = 0.47*0.66 + 0.3*0.73 = 0.5292

Question 2:
Probability that a randomly selected account has at least $1000 balance = 23/49 = 0.4694

P(X = 3) = 4C3 * (0.4694)^3 * (1-0.4694) = 0.2195

Question 3:
Probability of finding a defective item in a sample of 5 = 1 - (1 - 0.049)^5 = 0.2221

(1 - 0.049)^5 this indicates none of the part is defective.

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