Just need to answer some easy questions on an excel file. ItÃ¢â‚¬â„¢s easier than expected, trust me and thanks.

Kayne Anderson is a small real estate company located in Boca Raton, special

interested in determining the likelihood of one of their listings being sold within

homes in previous years produced t

Under 30

Initial

Asking

Price

Under

$250,000

$250,000$299,999

$300,000$350,000

Over $

350,000

Total

Days listed Until Sold

31-90

Over 90

Total

50

40

10

100

20

150

80

250

20

280

100

400

10

30

10

50

100

500

200

800

1. If A is defined as the event that a home is listed for more than 90 days before being sold, estimate the prob

2. If B is defined as the event that the initial asking price is under $250,000, estimate the probability of B.

3. What is the probability of A and B?

4. Assuming that a contract was just signed to list a home with an initial asking price of less than $250,000, w

home will take Cooper Realty more than 90 days to sell?

5. Are events A and B independent?

in Boca Raton, specializing primarily in residential listings. They recently became

ings being sold within a certain number of days. An analysis of company sales of 800

vious years produced the following data.

being sold, estimate the probability of A.

imate the probability of B.

price of less than $250,000, what is the probability that the

ently became

any sales of 800

Forty- three percent of Americans use social media to voice their opinions abou

(The Huffington Post , November 23, 2017). Below are the results of a survey of 14

asked if they use social media to voice their opinions about television

Female

Male

Total

Use Social

Media (SM)

Don’t Use

Social

Media (SM’)

395

323

291

355

Total

1. What is the probability a respondent is a female? Male?

2. What is the Conditional probability a respondent uses social media and other websites to voice opinions a

3. Let F denote the event that the respondent is female and SM denote the event that the respondent uses

television programs. Are events F and SM independe

4. The total responses do not equal the total surveys sent. Why not?

ce their opinions about televisions programs

esults of a survey of 1400 individuals who were

inions about television programs.

r websites to voice opinions about televisions programs given the respondent is a female?

vent that the respondent uses social media and other websites to voice opinions about

e events F and SM independent?

You work for an importer who takes molded plastic iPad cases and silk screens logos onto them. You get roughly 2

You get roughly 1/3 of your parts from supplier B. Of those parts from supplier A, 98% of them are good parts. Of

That gives the following breakdown.

(Si)

Prior

Probabilities

P(Si)

Conditional

Probabilities

P(D|Si)

A

0.67

0.02

B

0.33

0.05

Suppliers

You are silkscreening the Lynn University Logo onto the iPad cases to sell in the campus store. The total productio

What is the probability that you will have a defective part, no matter your supplier?

What is the expected number of defective parts in this production run?

What is the probability that the part came from Supplier A, given that it is defective?

What is the probability that the part came from Supplier B, given that it is defective?

What are at least three good reasons you would want to keep Supplier B, even though they have a higher defect r

What are some ways in which you can work with Supplier B to get the defect rate down?

k screens logos onto them. You get roughly 2/3 of your products from supplier A

m supplier A, 98% of them are good parts. Of those from supplier B, 95% are good parts.

Joint Probabilities

P(D Ã¢Ë†Â© Si)

Posterior

Probabilities

P(Si|D)

sell in the campus store. The total production run is 1,000 cases.

your supplier?

t it is defective?

t it is defective?

er B, even though they have a higher defect rate?

e defect rate down?

A = Supplier A

B = Supplie B

S = Supplier

D = Defect

The Following crosstabulation shows household income by educational l

Educational Level

Not H.S. Graduate

H.S. Graduate

Some College

BachelorÃ¢â‚¬â„¢s Degree

Beyond Bach. Deg.

Total

1.

2.

3.

4.

5.

6.

7.

Household Income

Under 25 25.0-49.9 50.0-74.5 75.0-99.9

4207

4917

2807

885

290

13106

3459

6850

5258

2094

829

18490

1389

5027

4678

2848

1274

15216

539

2637

3250

2581

1241

10248

100 or more

367

2668

4074

5379

4188

16676

Develop a joint probability table.

What is the probability of a head of household not being a high school graduate?

What is the probability of a head household having a bachelorÃ¢â‚¬â„¢s degree or more education?

What is the probability of a household headed by someone having bachelors degree earnings $100,00

What is the probability of a household having income below $25,000

What is the probability of a household headed by someone with bachelorÃ¢â‚¬â„¢s degree earnings less than

Is household income independent of educational level?

by educational level of the head of household (Statistical Abstract of the United St

Total

9961

22099

20067

13787

7822

73736

re education?

degree earnings $100,000 or more?

gree earnings less than $25,000?

ract of the United States , 2017)

A survey was given to new MBA students to find out which applied to more than one school.

The results are given in the joint probability table below.

22 and under

23 – 26

Age Group 27 – 30

31 – 34

35 and over

Total

Did you apply to more than one school?

Yes

No

207

201

299

379

185

268

66

193

51

169

Total

Created a stacked column chart of the data presented.

Complete the table by tallying the row and columns total.

What is the probability that a person chosen at random is < 23 years old?
What is the probability that a person chosen at random is older than 26?
What is the probability that a person chosen at random has applied to more than one school?
Given that a person applied to more than one school, what is the probability they are between 27 an
Given that a person is between 31 and 34, what is the probability they applied to more than one scho
Is applying to more than one school independent of age? How you do you know?
probability they are between 27 and 30?
they applied to more than one school?
Proctor and Gamble ran a TV commercial for Ivory soap. Later, they ran a survey to find out if people remembered
They assigned the following variables to each of the outcomes.
B = Bought the soap.
S = Saw the commercial
B Ã¢Ë†Â© S = Bought the soap after seeing commercial.
Your boss wants to know if the commercial is working. Of course, he doesn't know how to figure that out.
He does know the following, howeverÃ¢â‚¬Â¦
Suppliers
(Si)
Saw the Commercial
Prior
Probabilities
P(Si)
Conditional
Probabilities
P(B|Si)
0.40
Didn't see the Commercial
So, he wants you to fill out the table and give him the answers to the following questions. That way, he can take cr
What is the probability that someone did not see the commercial?
What is the probability that someone bought the soap even though they didn't see the commercial?
What is the probability that they bought the soap whether they saw the commercial or not?
What is the conditional probability that someone bought the soup given they saw the commercial?
What is the conditional probability that someone bought the soup given they did not see the commercial?
What is the probability they saw the commercial given that they bought the soap?
What is the probability they did not see the commercial given that they bought the soap?
Is the commercial independent of the amount of soap bought?
a survey to find out if people remembered the commercial.
esn't know how to figure that out.
Joint Probabilities
P(B Ã¢Ë†Â© Si)
Posterior
Probabilities
P(Si|D)
0.12
0.20
P(B)
lowing questions. That way, he can take credit for your hard work.
y didn't see the commercial?
commercial or not?
they saw the commercial?
they did not see the commercial?
bought the soap?
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