Scribd
Upload
18 views2 pages

Exercise #1 (Bondoc)

Uploaded by

Rheny Bondoc
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
18 views2 pages

Exercise #1 (Bondoc)

Uploaded by

Rheny Bondoc
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Ramon Magsaysay Memorial Colleges

General Santos City


2nd Sem| AY 2021-2022

QUANTITATIVE METHODS

Exercise #1

Direction: Answer the following problems. Write your solutions clearly. (Handwritten or
computerized.) Encircle your final answer.

Problem #1

1. JVM Company, a real estate company made a bid on two contracts. The owner identified
the possible outcomes and subjectively assigned the following probabilities.

a. Are these valid probability assignments? Why or why not?

- These are not valid probability assignments because the basic requirements of probability do
not hold, specifically, the sum of the probabilities for all experimental outcomes must equal 1.

b. If not, what would have to be done to make the probability assignments valid?
- The owner must revise the probabilities so that they sum to one.

Problem #2

ILECO conducted a study on the monthly charges of their customers. Only 100 customers were
used as a sample. The study resulted in the following frequency distribution of monthly charges.
a. Let A be the event that monthly charges are $150 or more. Find P(A).

P(A)= P(150-199)+P(200-249)

b. Let B be the event that monthly charges are less than $150. Find P(B)
P(B)= P(0-49)+(50-99)+P(100-149)
Problem #3
Suppose that a sample space has five equally likely experimental outcomes:
E1, E2, E3, E4, E5.
Let
A ={E1, E2}
B ={E3, E4}
C = {E2, E3, E5}

a. Find P(A), P(B), and P(C).


P(A)= P(E1)+P(E2)
= 0.20+0.20
= 0.40

b. Find P(A U B). Are A and B mutually exclusive?


P(B)= P(E3)+P(E4)
= 0.20+0.20
= 0.40

c. Find Ac , Cc , P(Ac ), and P(Cc ).

d. Find A U Bc and P(A U Bc ).

e. Find P(B U C)

You might also like