Just need to answer some easy questions on an excel file. It’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 ∩ 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
Bachelor’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 bachelor’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 bachelor’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 ∩ 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, however…
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 ∩ 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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