A large company must hire a new president.

CHAPTER 5 EXERCISE 4
A large company must hire a new president. The Board of Directors prepares a list of five candidates, all of whom are equally qualified. Two of these candidates are members of a minority group. To avoid bias in the selection of the candidate, the company decides to select the president by lottery.

a. What is the probability one of the minority candidates is hired? (Round your answer to 1 decimal place.)

Probability

b. Which concept of probability did you use to make this estimate?

CLASSICAL
EMPIRICAL
RANDOMNESS
UNIFORMITY
INFERNENCE
CHAPTER 5 EXERCISE 14
The chair of the board of directors says, “There is a 50% chance this company will earn a profit, a 30% chance it will break even, and a 20% chance it will lose money next quarter.”

a. Use an addition rule to find the probability the company will not lose money next quarter. (Round your answer to 2 decimal places.)

(Click to select) =
0.5 + 0.2
0.5 – 0.2
0.5 + 0.3
0.3 + 0.2
1.0 – 0.2

b. Use the complement rule to find the probability it will not lose money next quarter. (Round your answer to 2 decimal places.)

(Click to select) =
0.3 + 0.2
1.0 – 0.2
0.5 + 0.2
0.5 – 0.2
0.5 + 0.3

CHAPTER 5 EXERCISE 22
A National Park Service survey of visitors to the Rocky Mountain region revealed that 50% visit Yellowstone Park, 40% visit the Tetons, and 35% visit both.

a. What is the probability a vacationer will visit at least one of these attractions? (Round your answer to 2 decimal places.)

Probability ________

b. What is the probability .35 called?

(Click to select)
Exclusive
Joint
Complement

c. Are the events mutually exclusive?

(Click to select)
Sometimes
No
Yes

CHAPTER 5 EXERCISE 34

P(A1) = .20, P(A2) = .40, and P(A3) = .40. P(B1|A1) = .25. P(B1|A2) = .05, and P(B1|A3) = .10.

Use Bayes’ theorem to determine P(A3|B1). (Round your answer to 4 decimal places.)

P(A3|B1) _____________
CHAPTER 5 EXERCISE 40

Solve the following:
a.

b.
9P 3

c.
7C 2