urses/129056 Find and explain the following. A complete explanation should consi

Question

urses/129056 Find and explain the following. A complete explanation should consist of two or three sentences. (a) Can we have an event A that has negative probability? Explain your answer. (b) Consider event B. What is the name for the event that B does not occur? Explain your answer. Use the following information to answer c & d The probability that a company will make a proft this year is 0.74 (c) Find the probability that the company will not make a profit this year. Show work and explain. (d) Find the "odds" against the company making a profit. Show work and explain. (e) What is a probability distribution? Explain your answer. (f) What conditions must hold for a probability distribution to be acceptable? Explain your answer. Submission Instructions ip

Explanation / Answer

a)

NO. All probabilitites are at least 0 and at most 1.

b)

this is called the compliment of event B

c)

this is complement of event that companywill make a profit

P(A) + P(Ac) = 1

hence

1 - 0.74 = 0.26

d)

odd of event = p /(1 - p) = 0.74/(1-0.74)= 0.74/0.26 = 2.84615384615

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