12

5
3
20
(a)

(b)

diet colas
cans of lemonade
cans of root beer
TOTAL

PROBABILITY OF NEXT DRINK TO BE

diet colas
60%
cans of lemonade
25%
cans of root beer
15%

Relative Frequency Definition of Probability

(a)
Card 1
1
2
3
4
5
6
7
8
9
10
2
3
4
5
6
7
8
9
10
3
4
5
6
7
8
9
10
4
5
6
7
8
9
10
5
6
7
8
9
10
6
7
8
9
10

Card 2

SUM
1
1
1
1
1
1
1
1
1
1
2
2
2
2
2
2
2
2
2
3
3
3
3
3
3
3
3
4
4
4
4
4
4
4
5
5
5
5
5
5
6
6
6
6
6

2
3
4
5
6
7
8
9
10
11
4
5
6
7
8
9
10
11
12
6
7
8
9
10
11
12
13
8
9
10
11
12
13
14
10
11
12
13
14
15
12
13
14
15
16

SAMPLE SPACE
Value Frequency
2
1
3
1
4
2
5
2
6
3
7
3
8
4
9
4
10
5
11
5
12
5
13
4
14
4
15
3
16
3
17
2
18
2
19
1
20
1
TOTAL
55

(b)
Probability of the sum being 5

(c )
Probability of the sum being 2

7
8
9
10
8
9
10
9
10
10

7
7
7
7
8
8
8
9
9
10

14
15
16
17
16
17
18
18
19
20

y of the sum being 5

3.64%

y of the sum being 2

1.82%

Sample Space
T

0.125

0.125

0.125

0.125

0.125

0.125

0.125

0.125

Probabilities of each outcome

M
RB
RS
(a)
M
M
RB
RB
RS
RS

Monster
Red Bull
Rockstar
SAMPLE SPACE
RB
RS
RS
RB
M
RS
RS
M
M
RB
RB
M

(b)

Probability that RB will be the first choice

(c )

Probability that two (independent) respondents will choos

=2/6
0.333333

nt) respondents will choose RB as their first

=2/6 * 2/6
0.111111

Total card value is 5 or less

A^C

Total card value is 6 or more

P(A) =

10.91%

P(B) =

89.09%

(a)

A: exactly two heads

P(A) =

3/8

0.375

(b)

B: at most 1 heads

P(B) =

4/8

0.5

(c )

C: at least 2 heads

P(C ) =

4/8

0.5

(d)

A and B are mutually exclusive

P(A or B)

= 3/8 + 4/8

(e)

A and C are not mutually exclusive.

P(A or C)

= 3/8 + 4/8 - 3/8

0.875

0.5

(a)

Event Name
C1
C2
C3
O
E
G
F12
S12
T12

(b)

G or O
O or F12
C1 or C3
E and F12
E or F12
S12 and T12
O or C2

Description
Column 1 number
Column 2 number
Column 3 number
Odd Number
Even Number
Green Number
First 12 numbers
Second 12 numbers
Third 12 numbers

Probability
31.58%
31.58%
31.58%
47.37%
47.37% Does not consider 0 or 00 even numbers
5.26%
31.58%
31.58%
31.58%
52.63%
63.16%
63.16%
15.79%
63.16%
63.16%
63.16%

O and F12

15.79%

O and C2

15.79%

Over the past 6 months

25 early
150 on time
45 late
30 cancelled
250 TOTAL
(a)

PROBABILITIES
10% early
60% on time
18% late
12% cancelled

(b)

The events are mutually exclusive

(c )

P(early or on time)

70%

Of

100
50
35
15

graduates
only mutual funds
only stocks
both

(a)

P(Own a mutual fund)

P(Own a stock)

(b)

P(Neither stocks nor mutual funds)

(c )

P(Either stocks or mutual funds)

65%
50%
0
100

Census Education Data

Not a High
School Grad
Total Persons
Age

High School Some College

Graduate
No Degree

Associate's
Degree

Bachelor's
Degree

29,620,292

58,207,318

29,620,292

12,915,825

28,242,604

25-34
35-44
45-54
55-64
65-74
75 and older

4,683,126
5,335,440
4,427,540
4,562,275
5,165,297
5,399,420

12,553,926
15,117,080
10,932,618
8,301,115
6,505,772
4,717,388

7,792,092
8,136,546
6,062,324
3,338,250
2,466,474
1,847,170

3,423,798
4,134,966
2,894,930
1,157,260
768,539
454,688

8,382,402
8,136,546
5,960,150
2,893,150
1,787,300
1,150,929

Male
Female

14,168,672
15,361,785

26,607,448
31,621,920

14,086,296
15,541,455

5,683,944
7,186,800

14,086,296
14,193,930

White
Black
Other

23,647,714
4,650,240
1,279,740

49,181,442
6,975,360
1,977,780

24,953,416
3,700,816
1,047,060

11,171,006
1,201,312
550,676

24,373,104
1,995,728
1,915,732

4,120,320
15,516,160
1,847,880
1,188,090
5,145,683
2,968,680

7,777,104
36,382,720
2,368,024
1,667,010
4,670,488
7,003,040

4,789,872
18,084,352
1,184,012
842,715
1,765,010
3,806,000

1,828,392
8,346,624
465,392
336,165
556,657
1,674,640

5,124,648
19,154,432
670,712
405,240
977,544
2,340,690

11,668,755
1,057,310
16,858,244

36,228,706
1,783,636
20,040,098

20,448,104
809,072
8,205,834

9,890,659
317,193
2,623,634

22,115,069
455,103
5,582,200

Gender

Race

Marital Status
Never Married
Married, spouse present
Married, spouse absent
Separated
Widowed
Divorced
Civilian Labor Force
Employed
Unemployed
Not in Labor Force

PROBABILITIES
Advanced
Degree
13,604,669

Not a High
School Grad

TOTAL

172,211,000

a)

10.49%

32.57%

Associate's
Degree

18.38%

b) A: has at least Associate's Degree

B: is at least a high school graduate

2,439,948
3,556,960
3,848,554
2,047,460
1,179,618
625,196

P(A) =

31.80%

P(B) =

82.80%

They are not mutually exclusive, since B includes A.

7,743,344
5,929,110

P(A or B) =
11,751,318
852,544
992,768
2,137,416
9,523,712
301,136
165,780
475,195
1,217,920
10,890,838
170,089
2,511,990

High School Some College

Graduate
No Degree

111,242,131

P(B) =

82.80%

8.89%

TIES
Bachelor's
Degree

19.88%

Advanced
Degree

9.79%

(a)
REGION
East
North
South
West
TOTAL

Book

DVD
56
43
62
100
261

TOTAL
42
42
37
90
211

P(Book) P(DVD)
55.30%
44.70%

(b)

P(Book | East)
P(Book | North)
P(Book | South)
P(Book | EWest)

57.14%
50.59%
62.63%
52.63%

98
85
99
190
472

P(East)
P(North)
P(South)
P(West)

20.76%
18.01%
20.97%
40.25%

a) P(unemployed and advanced degree)=

0.10%

b) P(unemployed advanced degree)=

0.10%

c) P(not a high school grad unemployed) =

0.61%

d) They are not independent, knowing the existence of one will affect the probability of the other.

Consumer Transportation Survey

Vehicle
Driven

Type

Truck
Truck
Truck
Truck
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car

Domestic
Domestic
Foreign
Domestic
Domestic
Foreign
Domestic
Foreign
Domestic
Domestic
Foreign
Domestic
Foreign
Foreign
Foreign
Domestic
Domestic
Domestic
Domestic
Domestic
Domestic
Domestic
Foreign
Foreign
Domestic
Domestic
Foreign
Foreign
Domestic
Domestic
Domestic
Foreign
Domestic
Domestic
Domestic
Domestic
Domestic
Foreign
Foreign
Domestic
Domestic
Foreign

Satisfacti
on with
vehicle
Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
No
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
No
Yes
Yes
No
Yes
Yes
No
No
No
Yes
No
Yes
Yes

Gender

Male
Male
Male
Male
Male
Male
Male
Male
Male
Male
Male
Male
Female
Female
Female
Male
Female
Female
Male
Female
Female
Female
Female
Female
Male
Female
Female
Female
Female
Female
Female
Male
Male
Female
Female
Male
Male
Female
Female
Female
Female
Female

Count of Type
Row Labels
Female
Male
Grand Total

Column Labels
Car
Mini Van
16
6
22

a)

42%

b)

18%

c)

2%

d)

10%

e)

27%

f)

17%

8
1
9

g) They are not independent. Men are more likely to drive SUVs. Wom

Car
Car
Car
Car
Car
Car
Car
Car

Foreign
Foreign
Domestic
Foreign
Foreign
Domestic
Domestic
Foreign

Yes
Yes
Yes
Yes
Yes
No
Yes
No

Male
Male
Female
Female
Female
Female
Female
Female

SUV

Truck
5
10
15

Grand Total
4
4

e more likely to drive SUVs. Women do not drive Trucks.

29
21
50

TP:
NTP:

Test shows pregnancy

Test does not show pregnancy

WP:
NWP:

Woman pregnant
Woman not pregnant

P(TP given NWP)=

P(NTP given WP)=

0.02
0.03

P(WP) =

0.70

P(WP given NTP)

P(NTP) =

= P( WP and NTP) / P(NTP)

= [ P(NPT given WP) * P(WP) ] / P(NTP)

P(NTP given WP) * P(WP) + P(NTP given NWP) *P(NWP)

0.03 * 0.70 + 0.98 * 0.30
31.50%

P(WP given NTP)

= [ 0.03 * 0.70 ] / 0.315

6.67%

NOTE: THIS PROBLEM REQUIRES CONCEPTS OF BAYES'S THEOREM IN CHAPTER 18. IT WILL BE MODIFIED IN THE NEXT EDITIO

DIFIED IN THE NEXT EDITION TO BETTER FIT THIS CHAPTER.

Drawing two 10s

= 4 /40 * 3/39
0.77%

Drawing three 10s

= 4 /40 * 3/39 * 2/38

0.04%

Two greens in a row

= 2/38 * 2/38
0.28%

Two blacks in a row

=18/38 * 18/38
22.44%

A
1
2
3
4
5
6
7
8
9
10
11
12
13

P( Successful given Favorable)

P( Successful given Unfavorable)
P( Unsuccessful given Unfavorable)
P( Unsuccessful given Favorable)

48%
12%
28%
12%

F: favorable
UF: unfavorable
S: successful
US: unsuccessful

60%
40%
60%
40%

G
e.g., P(S and F) = P(S given F)P(F)
P(Successful product and favorable test market)
P(Successful product and unfavorable test market)
P(Unuccessful product and favorable test market)
P(Unsuccessful product and unfavorable test market)

H
1
2
3
4
5
6
7
8
9
10
11
12
13

28.8%
4.8%
7.2%
11.2%

Return

Probability
-20%
0%
15%
30%

Expected Value

0.10
0.20
0.40
0.30
13%

Demand, x

Probability, f(x)
0
1
2
3

Expected Value

0.1
0.3
0.4
0.2

(x - Expected Value)^2
2.89
0.49
0.09
1.69

1.7

0.81
Variance

0.90
Std Dev

7.69%
7.69%
7.69%
7.69%
7.69%
7.69%
7.69%
7.69%
30.77%
7.69%

2
3
4
5
6
7
8
9
10
11

2
3
4
5
6
7
8
9
10
11

7.84%
2
0.45%
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
2.41%
0.60%
2
4
5
6
7
8
9
10
11
12
13

7.84%
3
0.60%
0.45%
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
2.41%
0.60%
3
5
6
7
8
9
10
11
12
13
14

7.84%
4
0.60%
0.60%
0.45%
0.60%
0.60%
0.60%
0.60%
0.60%
2.41%
0.60%
4
6
7
8
9
10
11
12
13
14
15

7.84%
5
0.60%
0.60%
0.60%
0.45%
0.60%
0.60%
0.60%
0.60%
2.41%
0.60%
5
7
8
9
10
11
12
13
14
15
16

7.84%
6
0.60%
0.60%
0.60%
0.60%
0.45%
0.60%
0.60%
0.60%
2.41%
0.60%
6
8
9
10
11
12
13
14
15
16
17

7.84%
7
0.60%
0.60%
0.60%
0.60%
0.60%
0.45%
0.60%
0.60%
2.41%
0.60%
7
9
10
11
12
13
14
15
16
17
18

7.84%
8
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
0.45%
0.60%
2.41%
0.60%
8
10
11
12
13
14
15
16
17
18
19

7.84%
9
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
0.45%
2.41%
0.60%
9
11
12
13
14
15
16
17
18
19
20

31.37%
10
2.41%
2.41%
2.41%
2.41%
2.41%
2.41%
2.41%
2.41%
9.05%
2.41%
10
12
13
14
15
16
17
18
19
20
21

7.84%
11
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
0.60%
2.41%
0.45%
11
13
14
15
16
17
18
19
20
21
22

2-CARD VALUE PROBABILITY

4
0.45%
5
1.21%
6
1.66%
7
2.41%
8
2.87%
9
3.62%
10
4.07%
11
4.83%
12
8.90%
13
9.65%
14
8.90%
15
8.45%
16
7.69% (b)
17
7.24%
18
6.49%
19
6.03%
20
10.26%
21
4.83% (a)
22
0.45%
P(16 or less)

64.71% ( c )

P(btw 12 & 16)

43.59%

P(btw 17 & 20)

30.02%

E[X]
Variance
STD DEV

14.62 ( d )
16.71
4.09

Cumulative
0.45%
1.66%
3.32%
5.73%
8.60%
12.22%
16.29%
21.12%
30.02%
39.67%
48.57%
57.01%
64.71%
71.95%
78.43%
84.46%
94.72%
99.55%
100.00%

(X- E{X])^2
112.69
92.46
74.22
57.99
43.76
31.53
21.30
13.07
6.84
2.61
0.38
0.15
1.92
5.69
11.46
19.22
28.99
40.76
54.53

Consumer Transportation Survey

Vehicle
Driven

Type

Satisfacti
on with
vehicle

Gender

Age

# of hours
per week in
vehicle

Truck
Truck
Truck
Truck
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
SUV
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Mini Van
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car
Car

Domestic
Domestic
Foreign
Domestic
Domestic
Foreign
Domestic
Foreign
Domestic
Domestic
Foreign
Domestic
Foreign
Foreign
Foreign
Domestic
Domestic
Domestic
Domestic
Domestic
Domestic
Domestic
Foreign
Foreign
Domestic
Domestic
Foreign
Foreign
Domestic
Domestic
Domestic
Foreign
Domestic
Domestic
Domestic
Domestic
Domestic
Foreign
Foreign
Domestic
Domestic

Yes
Yes
No
No
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
Yes
Yes
No
No
Yes
Yes
No
Yes
Yes
Yes
No
Yes
Yes
Yes
Yes
No
Yes
Yes
No
Yes
Yes
No
No
No
Yes
No
Yes

Male
Male
Male
Male
Male
Male
Male
Male
Male
Male
Male
Male
Female
Female
Female
Male
Female
Female
Male
Female
Female
Female
Female
Female
Male
Female
Female
Female
Female
Female
Female
Male
Male
Female
Female
Male
Male
Female
Female
Female
Female

31
29
26
18
49
50
48
45
45
44
41
41
39
36
33
31
31
29
28
55
43
41
38
39
35
33
32
28
21
62
61
60
58
51
47
46
44
42
41
41
39

10
5
12
6
21
16
15
5
15
10
5
30
6
4
3
10
15
4
3
8
10
10
10
15
5
10
2
8
4
5
5
5
10
11
4
4
6
5
5
10
10

Miles
Number Average
driven
of
number
per week Children of riders
450
370
580
300
1000
840
1400
300
850
700
350
1500
280
400
420
675
800
300
400
400
700
720
450
1000
350
800
200
350
150
175
355
150
600
600
300
275
285
400
350
600
700

0
1
0
0
0
2
3
2
0
2
1
4
1
0
0
0
1
1
1
0
2
1
4
1
2
2
4
3
0
0
0
0
0
0
0
0
2
2
2
1
1

1
1
1
1
1
1
4
2
1
1
1
3
1
1
1
1
1
1
1
2
3
2
5
2
2
3
5
4
1
2
1
1
1
1
1
1
3
3
2
2
2

Car
Car
Car
Car
Car
Car
Car
Car
Car

Foreign
Foreign
Foreign
Domestic
Foreign
Foreign
Domestic
Domestic
Foreign

Yes
Yes
Yes
Yes
Yes
Yes
No
Yes
No

Female
Male
Male
Female
Female
Female
Female
Female
Female

34
33
30
29
27
26
24
22
19

10
5
5
5
6
5
5
5
5

600
400
350
250
355
175
300
350
500

1
1
1
0
0
0
0
0
0

2
2
2
1
2
1
1
1
2

Miles
from
work

Number
of
Children

COUNT

30
22
15
20
22
45
25
20
25
40
20
15
17
20
25
35
50
20
15
0
0
15
0
0
0
0
5
0
0
0
15
10
35
40
21
18
16
22
23
34
45

0
1
2
3
4

23
13
9
2
3

TOTAL

50

Probability
Mass
Function

46.00%
26.00%
18.00%
4.00%
6.00%

Cumulative
Distribution
Function

46.00%
72.00%
90.00%
94.00%
100.00%

P(Fewer than two children)

72.00%

P(At least two children)

28.00%

P(Five or more children)

0.00%

P(

16
22
18
19
23
11
4
3
4

x
f(x)
Months of Retention Probability
1
15.00%
2
12.75%
3
10.84%
4
9.21%
5
7.83%
6
6.66%
7
5.66%
8
4.81%
9
4.09%
10
3.47%
11
2.95%
12
2.51%
13
2.13%
14
1.81%
15
1.54%
16
1.31%
17
1.11%
18
0.95%
19
0.80%
20
0.68%
21
0.58%
22
0.49%
23
0.42%
24
0.36%
25
0.30%
26
0.26%
27
0.22%
28
0.19%
29
0.16%
30
0.13%
31
0.11%
32
0.10%
33
0.08%
34
0.07%
35
0.06%
36
0.05%
37
0.04%
38
0.04%
39
0.03%
40
0.03%
41
0.02%
42
0.02%
43
0.02%
44
0.01%

(x-E[x])^2
31.86
21.57
13.28
6.99
2.70
0.42
0.13
1.84
5.55
11.26
18.97
28.68
40.40
54.11
69.82
87.53
107.24
128.95
152.66
178.38
206.09
235.80
267.51
301.22
336.93
374.64
414.36
456.07
499.78
545.49
593.20
642.91
694.62
748.33
804.05
861.76
921.47
983.18
1,046.89
1,112.60
1,180.31
1,250.03
1,321.74
1,395.45

E[x]
Variance
6.64
36.82

45
46
47
48

0.01%
0.01%
0.01%
0.01%

1,471.16
1,548.87
1,628.58
1,710.29

Std Dev
6.07

Call Center Data

Male = 1
Female =
0

Yes = 1
No = 0

Gender
Starting Age
0
1
0
0
0
0
0
1
1
1
0
0
0
1
1
0
1
1
1
0
0
0
0
0
1
1
1
1
1
1
0
1
1
1
0
0
0
1
1
1
0

18
18
19
19
19
19
19
19
19
19
20
20
20
20
20
21
21
21
21
22
22
23
23
23
23
23
23
24
24
24
25
25
25
25
26
26
26
26
26
27
28

Yes = 1
No = 0

Prior Call Center Experience

College
Length Degree
of Service (years)
0
1
0
0
0
0
1
1
1
0
0
1
0
0
0
0
0
0
0
0
1
1
1
0
1
0
0
0
0
0
1
1
0
1
1
1
1
1
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
0
0
1
0
1
1
1
0
1
1
0
1
1
1
1
0
0

7.02
3.47
2.07
1.78
4.42
3.29
3.05
0.49
0.61
3.12
2.95
2.15
4.03
3.53
2.47
2.15
3.27
1.10
1.78
1.94
2.91
3.02
2.53
1.84
2.88
2.20
1.44
2.53
1.41
1.08
0.98
0.63
1.30
2.13
2.30
2.05
2.13
2.12
2.16
2.04
1.70

0
1
0
1
1
0
0
0
1
0
1
1
1
0
0
1
1
1
0
0
1
0
0
1
0
0
0
0
0

28
29
30
30
30
31
31
31
31
32
32
32
33
34
34
34
34
36
39
39
39
40
40
41
43
43
45
47
50

0
0
0
1
0
0
0
0
0
0
1
1
0
1
0
0
1
0
0
0
0
1
0
1
1
1
0
1
1

1
1
1
0
1
0
0
1
0
1
0
1
0
0
1
0
0
1
0
1
0
0
0
0
0
0
0
1
0

2.11
1.75
2.15
2.12
0.37
1.95
1.02
1.26
1.04
1.64
1.75
1.71
1.29
1.48
1.31
1.46
1.88
1.16
1.16
1.05
0.96
1.24
0.81
0.87
0.99
0.76
0.32
0.35
0.57

Binomial distribution
Experience

Count
0
1

Probability of Experience

43
27
38.57%

p
Customers Contacted
Customers Generated

0.05
25
5

Probability of 25 potential contacts generating 5 customers

0.007164948

n
p
x

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

25
0.05
f(x)

F(x)

0.27739
0.36499
0.23052
0.09302
0.02693
0.00595
0.00104
0.00015
1.8E-05
1.8E-06
1.5E-07
1.1E-08
6.5E-10
3.4E-11
1.5E-12
6E-14
2E-15
5.5E-17
1.3E-18
2.5E-20
3.9E-22
4.9E-24
4.7E-26
3.2E-28
1.4E-30
3E-33

0.27739
0.64238
0.87289
0.96591
0.99284
0.99879
0.99983
0.99998
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

p
Total Weeks
Success Weeks

50% success
52
33

Probability of 33 weeks of success by chance

1.70%

p
Hotel Rooms
Cancellations

4%
300
20 (300 - 280)

Probability of at least 280 rooms will be occupied

98.99%
Normal Approximation
Mean 288.00
S.D.
3.39
For 280 rooms, z score
z
(2.36)
Probability
99.08%

p
Number of Calls
Number of Successes

0.10
78
4

Probability of up to 4 successes
9.94%
Probability of 5 or more successes
90.06%

A
1
2
3
4
5
6
7
8
9
10
11

B
Average

6 customers per day

Customers per
day
0
1
2
3
4

Probability
0.25%
1.49%
4.46%
8.92%
13.39%

at least 5

71.49%

Number

Frequency
0
1
2
3
4
5
6
7
8

TOTAL

5
16
19
13
3
5
4
2
1

Empirical
Probability
7.35%
23.53%
27.94%
19.12%
4.41%
7.35%
5.88%
2.94%
1.47%

Theoretical
Probability
7.52%
19.45%
25.17%
21.72%
14.05%
7.27%
3.14%
1.16%
0.38%

68

30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
0.00%

2.59 Expected Value

Empirical Probability
Theoretical Probability

a.

P(x<8)

60%

Using formulas
0.60

b.

P(x>7)

40%

0.40

c.

P(6<x<10)

80%

0.80

d.

P(8<x<11)

30%

0.30

a
b
a.

20 minutes
60 minutes
Mean
Variance

b.

12.50%

c.

50.00%

40.00 minutes
133.33

a
b
P(in 18 days)

10
20

Using formula
Minimum a
Maximum b = ?

0.8

P(in 18 days)

10
20 (18-10) = .8x and solve for x
0.80

18-10) = .8x and solve for x

Mean
S.D.

30 mpg
1.5 mpg

a.

P(X<28)

b.

P(X<32)
P(28<X<32)

90.88%
81.76%

c.

P(X<33)
P(X>33)

97.72%
2.28%

d.

P(X<31)

74.75%

e.

Upper tail
Lower cum
mpg

9.12%

5%
95%
32.47 upper 5%

Mean
S.D.

580
25

a.

P(X<550)

11.51%

b.

P(X<600)
P(X<560)
P(560<X<600)

78.81%
21.19%
57.63%

c.

P(X<620)
P(X>620)

94.52%
5.48%

d.

P(X<700)
P(X>700)

99.9999%
0.0001%

e.
Z-scores

500
600
700

(3.20)
0.80
4.80

Mean
S.D.

2000 ml
20 ml

a.

P(X<2060)
Overfill

99.87%
0.13%

b.

P(X<1970)

6.68%

A
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28

B
Mean
S.D.
a.

1.98 cm
0.10 cm
P(X<2.04)
P(X<1.96)

72.57%
42.07%

Meet the specs

30.50%

b.
Mean
S.D.

2.00 cm
0.10 cm
P(X<2.04)
P(X<1.96)

65.54%
34.46%

Meet the specs

31.08%

c.
Mean
S.D.

Using formula

P(X<2.04)
P(X<1.96)

99.07%
0.93%

P(X<2.04)
P(X<1.96)

lower limit
upper limit
cm
cm
Z=
-2.33
2.33

Meet the specs

98.14%

Meet the specs

98.00%

2.00 cm
0.017 cm

Mean
S.D.

2.00
0.0172

2.04
1.96

Mean $
S.D. $
P(at most $15)
P(at least $15)

100 customers
Mean $
S.D. $

20.00
4.00
10.56%
89.44%

20.00
0.40

p(1 customer spends at least $15)

89.44%

P(at least 40 customers)

100.00%

Mean
Lambda

2750
0.0004

P(X>3000)

33.59%

Mean
Lambda

20 minutes
0.05

a.

P(X<30)
P(X>30)

77.69%
22.31%

b.

P(X<20)

63.21%

PROBABILITY OF NEXT DRINK TO BE

diet colas
0.60
cans of lemonade
0.25
cans of root beer
0.15

0.60
0.85

Interval
to less than
to less than
to less than

OUTCOME
0.60 diet colas
0.85 cans of lemonade
1.00 cans of root beer

OUTCOME
cans of lemonade
cans of root beer

Random Number
0.2479
0.8383
0.6292
0.6219
0.4159
0.8737
0.7061
0.8105
0.6448
0.3619

OUTCOME
diet colas
cans of lemonade
cans of lemonade
cans of lemonade
diet colas
cans of root beer
cans of lemonade
cans of lemonade
cans of lemonade
diet colas

SAMPLE SPACE
Value
Frequency Probability
2
1 0.0182
3
1 0.0182
4
2 0.0364
5
2 0.0364
6
3 0.0545
7
3 0.0545
8
4 0.0727
9
4 0.0727
10
5 0.0909
11
5 0.0909
12
5 0.0909
13
4 0.0727
14
4 0.0727
15
3 0.0545
16
3 0.0545
17
2 0.0364
18
2 0.0364
19
1 0.0182
20
1 0.0182
TOTAL
55

0.0182
0.0364
0.0727
0.1091
0.1636
0.2182
0.2909
0.3636
0.4545
0.5455
0.6364
0.7091
0.7818
0.8364
0.8909
0.9273
0.9636
0.9818

Interval
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than
to less than

0.0182
0.0364
0.0727
0.1091
0.1636
0.2182
0.2909
0.3636
0.4545
0.5455
0.6364
0.7091
0.7818
0.8364
0.8909
0.9273
0.9636
0.9818
1.0000

OUTCOME
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

OUTCOME

Random Number OUTCOME

0.4002
10
0.0985
5
0.1781
7
0.7549
14
0.3978
10
0.9806
19
0.3833
10
0.8754
16
0.9646
19
0.5565
12

a
b

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

20 minutes
60 minutes

RAND
NUMBER
0.9937
59.75
0.6465
45.86
0.5246
40.98
0.7414
49.65
0.0290
21.16
0.8123
52.49
0.6222
44.89
0.9325
57.30
0.6910
47.64
0.1408
25.63
0.8166
52.66
0.3392
33.57
0.6599
46.39
0.9174
56.70
0.6930
47.72
0.4772
39.09
0.3777
35.11
0.3569
34.28
0.9044
56.17
0.0175
20.70
0.4548
38.19
0.2311
29.25
0.1528
26.11
0.3727
34.91
0.0320
21.28

MEAN
S.D.

40.70
12.19

A
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46

B
8
6
6
10
7
5
5
8
7
10
4
6
5
4
3
6
7
5
9
4
8
6
4
9
5
11
7
4
4
5
3
8
8
8
10
3
13
4
5
9
5
4
7
8
8
11

C
Min
Max

E
2
13

F
COUNT

G
FREQ
2
3
4
5
6
7
8
9
10
11
12
13

2
8
15
19
10
13
13
6
10
3
0
1

75% of the days there will be at least 5 customers

A
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92

B
5
3
4
10
8
5
7
8
9
10
3
8
9
2
5
6
8
7
5
4
4
3
10
5
5
10
7
4
4
8
10
6
5
7
6
6
9
10
4
5
3
7
10
5
7
4

A
93
94
95
96
97
98
99
100

B
5
3
7
2
11
7
6
5

J
1
2
3
4
5
6
7
8
9
10
11
12
13
14
e will be at least
15 5 customers
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46

NOTE: AS A SAMPLING EXPERIMENT, THE RESULTS WILL VARY SLIGHT

Equity Multiplier
3.80%
0.40%
Net Profit
Margin
3.97%
3.01%
3.66%
3.39%
3.69%
3.71%
3.19%
4.19%
3.94%
4.05%
4.15%
4.27%
4.07%
3.64%
3.73%
3.92%
3.50%
3.40%
3.67%
4.01%
4.16%
3.46%
3.71%
3.90%
3.66%
4.64%
3.21%
3.37%
4.41%
3.82%
4.05%
3.83%
3.01%
4.18%
4.12%
4.05%
3.56%
3.74%
3.38%
4.11%

4.00
1.50 MEAN
0.20 S.D.
Total Asset
Turnover
1.90
1.18
1.65
1.60
1.29
1.83
1.46
1.72
1.34
1.57
1.66
1.53
1.46
1.50
1.48
1.33
1.22
1.24
1.29
1.35
1.17
1.60
1.43
1.46
1.53
1.74
1.49
1.36
1.88
1.48
1.39
1.62
1.62
1.31
1.63
1.49
1.07
1.15
1.62
1.46

ROE
0.30
0.14
0.24
0.22
0.19
0.27
0.19
0.29
0.21
0.25
0.28
0.26
0.24
0.22
0.22
0.21
0.17
0.17
0.19
0.22
0.19
0.22
0.21
0.23
0.22
0.32
0.19
0.18
0.33
0.23
0.23
0.25
0.19
0.22
0.27
0.24
0.15
0.17
0.22
0.24

min
max

0.12
0.37

3.97%
4.19%
3.91%
3.72%
3.83%
3.68%
4.31%
3.82%
3.25%
3.87%
3.39%
3.35%
4.07%
3.04%
3.87%
3.46%
3.65%
4.15%
4.54%
4.36%
4.32%
3.46%
3.23%
3.17%
4.00%
3.05%
2.85%
3.64%
4.34%
4.59%
3.71%
3.21%
3.83%
4.09%
3.51%
3.81%
3.52%
3.78%
3.87%
3.99%
3.95%
4.24%
3.10%
3.15%
4.89%
4.26%
3.69%

1.25
1.61
1.42
1.29
1.23
1.55
1.57
1.58
1.89
1.46
1.18
1.76
1.88
1.39
1.47
1.76
1.64
1.54
1.43
1.42
1.27
1.42
1.34
1.53
1.54
1.32
1.61
1.56
1.28
1.22
1.45
1.58
1.60
1.58
1.78
1.55
1.63
1.43
1.39
1.30
1.66
1.46
1.54
1.24
1.57
1.66
1.70

0.20
0.27
0.22
0.19
0.19
0.23
0.27
0.24
0.25
0.23
0.16
0.24
0.31
0.17
0.23
0.24
0.24
0.26
0.26
0.25
0.22
0.20
0.17
0.19
0.25
0.16
0.18
0.23
0.22
0.22
0.22
0.20
0.24
0.26
0.25
0.24
0.23
0.22
0.22
0.21
0.26
0.25
0.19
0.16
0.31
0.28
0.25

3.88%
3.52%
3.94%
4.39%
4.54%
3.41%
4.11%
4.08%
4.26%
4.57%
3.69%
3.83%
4.13%
3.25%
3.77%
4.24%
4.42%
3.97%
4.09%
3.86%
3.95%
3.58%
3.52%
3.85%
3.26%
3.22%
4.39%
3.37%
3.62%
4.35%
4.11%
4.78%
3.72%
3.60%
4.31%
3.59%
3.88%
3.47%
4.45%
4.09%
4.04%
3.89%
3.02%
3.05%
3.51%
3.65%
4.02%

1.50
1.47
1.54
1.51
1.23
1.42
1.72
1.29
1.57
1.77
1.80
1.68
1.37
1.66
1.71
1.50
1.79
1.82
1.38
1.33
1.34
1.23
1.80
1.48
1.40
1.13
1.62
1.36
1.65
1.55
1.93
1.45
1.67
1.27
1.54
1.76
1.60
1.55
1.30
1.60
1.32
1.37
1.00
1.26
1.32
1.29
1.39

0.23
0.21
0.24
0.26
0.22
0.19
0.28
0.21
0.27
0.32
0.27
0.26
0.23
0.22
0.26
0.25
0.32
0.29
0.23
0.21
0.21
0.18
0.25
0.23
0.18
0.15
0.28
0.18
0.24
0.27
0.32
0.28
0.25
0.18
0.27
0.25
0.25
0.22
0.23
0.26
0.21
0.21
0.12
0.15
0.19
0.19
0.22

3.56%
3.52%
4.04%
4.54%
3.44%
3.33%
4.45%
4.28%
3.73%
4.23%
4.65%
3.72%
2.88%
4.30%
4.35%
4.32%
3.39%
4.19%
3.32%
3.94%
3.59%
3.68%
4.22%
3.06%
3.59%
3.46%
3.54%
3.10%
3.75%
3.52%
3.53%
3.96%
3.55%
4.26%
3.93%
3.76%
4.94%
3.41%
3.83%
4.10%
3.81%
3.95%
4.84%
3.07%
3.25%
3.60%
2.58%

1.52
1.47
1.71
1.59
1.52
1.22
1.69
1.43
1.77
1.40
1.29
1.32
1.18
1.05
1.40
1.90
1.50
1.41
1.68
1.77
1.54
1.46
1.58
1.61
1.25
1.33
1.57
1.53
1.66
1.32
1.34
1.66
1.46
1.39
1.62
1.71
1.40
1.38
1.48
1.90
1.25
1.86
1.29
1.44
1.34
1.57
1.69

0.22
0.21
0.28
0.29
0.21
0.16
0.30
0.24
0.26
0.24
0.24
0.20
0.14
0.18
0.24
0.33
0.20
0.24
0.22
0.28
0.22
0.21
0.27
0.20
0.18
0.18
0.22
0.19
0.25
0.19
0.19
0.26
0.21
0.24
0.26
0.26
0.28
0.19
0.23
0.31
0.19
0.29
0.25
0.18
0.17
0.23
0.17

3.79%
4.02%
4.43%
3.89%
3.34%
3.33%
4.20%
3.56%
4.01%
4.06%
4.07%
4.07%
3.62%
3.40%
3.79%
3.55%
4.02%
3.09%
3.48%
4.12%
3.98%
4.10%
3.88%
4.03%
3.76%
4.13%
4.19%
4.36%
3.96%
3.15%
3.54%
3.72%
3.62%
3.65%
4.01%
3.47%
3.84%
4.57%
3.56%
3.86%
4.66%
4.26%
3.67%
3.11%
3.62%
4.48%
4.63%

1.78
1.31
1.71
1.29
1.44
1.67
1.53
1.53
1.41
1.34
1.33
1.73
1.22
1.69
1.50
1.36
1.32
1.43
1.70
1.65
1.10
1.40
1.89
1.54
1.50
1.39
1.08
1.55
1.21
1.56
1.81
1.48
1.32
1.78
1.06
1.25
1.31
1.26
1.55
1.35
1.88
1.74
1.45
1.49
1.61
1.29
1.60

0.27
0.21
0.30
0.20
0.19
0.22
0.26
0.22
0.23
0.22
0.22
0.28
0.18
0.23
0.23
0.19
0.21
0.18
0.24
0.27
0.17
0.23
0.29
0.25
0.23
0.23
0.18
0.27
0.19
0.20
0.26
0.22
0.19
0.26
0.17
0.17
0.20
0.23
0.22
0.21
0.35
0.30
0.21
0.19
0.23
0.23
0.30

3.91%
4.05%
3.76%
3.66%
4.31%
4.01%
3.68%
3.22%
3.81%
3.72%
4.12%
3.22%
3.50%
3.95%
3.80%
4.08%
3.86%
3.34%
3.93%
5.12%
3.63%
3.65%

1.38
1.83
1.29
1.55
1.48
1.54
1.90
1.09
1.52
1.50
1.39
1.48
1.67
1.68
1.23
1.32
1.72
1.26
1.56
1.81
1.39
1.40

0.22
0.30
0.19
0.23
0.25
0.25
0.28
0.14
0.23
0.22
0.23
0.19
0.23
0.27
0.19
0.22
0.27
0.17
0.25
0.37
0.20
0.20

RESULTS WILL VARY SLIGHTLY FOR EACH STUDENT

Frequency
40
35

Cumulative
0
1
3
5
8
15
27
45
66
81
107
141
159
182
198
212
224
231
236
241
244
247
248
248
249

Frequency

30
25

1
2
2
3
7
12
18
21
15
26
34
18
23
16
14
12
7
5
5
3
3
1
0
1

20
15
10
5
0
0.12
0.13
0.14
0.15
0.16
0.17
0.18
0.19
0.20
0.21
0.22
0.23
0.24
0.25
0.26
0.27
0.28
0.29
0.30

Range
0.12
0.13
0.14
0.15
0.16
0.17
0.18
0.19
0.20
0.21
0.22
0.23
0.24
0.25
0.26
0.27
0.28
0.29
0.30
0.31
0.32
0.33
0.34
0.35
0.36

0.30
0.31
0.32
0.33
0.34
0.35
0.36

Scenario
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1
3.38
3.11
3.59
4.12
3.68
3.20
3.37
3.44
3.72
3.28
3.57
3.49
3.73
3.40
3.05
3.20
3.58
3.48
3.41
3.52
3.95
3.49
3.62
3.57
3.29

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

2
3.60
3.04
3.10
3.05
3.27
3.42
3.71
3.83
3.65
3.40
3.63
3.66
3.09
3.02
3.42
3.75
3.28
3.75
3.41
3.63
3.66
3.62
3.54
3.79
2.93

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

3
3.72
3.18
3.63
3.78
3.53
3.12
3.28
3.31
3.54
3.18
3.01
3.72
3.52
3.37
3.27
3.54
3.86
3.45
4.11
3.78
3.19
3.71
3.65
3.79
3.98

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

4
3.08
3.82
3.36
3.19
3.53
3.67
3.65
3.60
3.41
3.60
3.67
3.27
3.74
3.56
3.65
3.86
3.53
3.12
3.32
3.94
3.33
3.13
3.65
2.87
3.69

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

5
3.84
3.53
3.27
3.56
3.28
3.68
3.90
3.71
3.64
3.40
3.32
3.17
3.20
3.59
3.38
3.43
3.35
3.54
3.64
3.39
3.97
3.41
3.43
2.97
3.23

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

6
3.55
3.65
3.01
3.71
3.26
2.85
3.64
3.33
3.94
3.31
3.36
2.96
3.76
3.50
3.80
3.51
3.65
3.41
3.79
3.84
3.26
3.51
3.45
3.74
3.88

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

7
3.77
3.52
3.55
3.68
3.69
3.92
3.77
3.76
3.32
3.63
3.64
3.54
3.37
3.44
4.01
3.62
3.37
2.91
3.55
4.05
3.93
3.40
3.61
3.98
3.85

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

8
3.84
3.79
3.89
3.48
3.50
3.86
3.79
3.43
3.61
3.49
3.68
3.61
4.20
3.65
2.92
3.44
3.63
3.49
3.55
3.47
3.17
3.59
3.00
3.45
3.66

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

9
3.14
2.89
3.19
3.71
3.90
3.32
2.90
3.47
3.26
3.48
3.72
3.51
3.55
3.34
3.03
3.35
3.70
3.31
3.55
3.39
3.50
3.82
3.58
3.26
3.37

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

10
3.85
3.74
3.86
3.14
3.09
3.45
3.77
3.36
3.74
3.64
3.43
4.13
3.80
3.36
3.81
3.20
3.33
3.82
3.13
3.96
3.81
3.34
3.71
3.58
3.14

MIN BID
$ 3.08
$ 2.89
$ 3.01
$ 3.05
$ 3.09
$ 2.85
$ 2.90
$ 3.31
$ 3.26
$ 3.18
$ 3.01
$ 2.96
$ 3.09
$ 3.02
$ 2.92
$ 3.20
$ 3.28
$ 2.91
$ 3.13
$ 3.39
$ 3.17
$ 3.13
$ 3.00
$ 2.87
$ 2.93
$

MEAN
SD

3.07 EXPECTED VALUE

$
$

3.50 million
0.25 million

Computer Repair Times

Sample

Repair Time (Days)

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46

18
15
17
9
37
15
8
29
10
14
17
12
13
12
11
14
13
16
13
15
16
12
34
29
13
19
12
15
16
14
15
7
40
16
11
11
10
13
14
9
18
8
13
8
10
13

47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93

16
9
9
12
16
9
15
17
38
11
15
16
10
9
25
15
7
11
19
13
12
20
12
13
11
8
14
10
12
15
17
10
13
18
26
14
15
12
15
9
10
21
11
36
8
20
14

94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140

18
19
14
12
16
17
12
10
10
15
23
13
19
19
12
13
12
16
12
14
11
14
7
16
12
16
10
12
36
9
9
22
16
12
17
9
25
14
13
13
8
14
8
17
13
12
8

141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184
185
186
187

12
17
22
19
10
19
10
17
13
9
13
9
11
12
17
15
15
27
17
10
20
15
12
15
23
17
8
17
10
20
16
12
11
22
11
14
17
18
11
21
15
14
16
10
19
14
20

188
189
190
191
192
193
194
195
196
197
198
199
200
201
202
203
204
205
206
207
208
209
210
211
212
213
214
215
216
217
218
219
220
221
222
223
224
225
226
227
228
229
230
231
232
233
234

27
20
15
20
11
14
13
26
9
8
15
16
21
14
15
15
14
15
15
16
5
11
14
8
21
10
18
13
16
11
11
10
18
11
18
23
22
19
9
11
10
6
39
14
10
11
7

235
236
237
238
239
240
241
242
243
244
245
246
247
248
249
250

13
17
8
25
20
13
21
7
12
16
23
18
31
6
17
13

ONE EXAMPLE:
Chi-Square