1. Explain differences between Independent Events and Mutually Exclusive Events. 2. Describe the two basic rules...

1. Explain differences between Independent Events and Mutually Exclusive Events.

2. Describe the two basic rules of probability.

3. Describe the purpose of a contingency table. What are the differences between a contingency table and a frequency (pivot) table we discuss earlier in our course?

4. Describe the purpose and application of Bayes' Theorem.

Expert Solution

orchestra answered 2 years ago

Describe, in a short paragraph, the relationship between independent events and mutually exclusive events. Are independent...

Describe, in a short paragraph, the relationship between independent events and mutually exclusive events. Are independent events also mutually exclusive? Your answer should include (but should not be limited to) an answer to the following questions: Give an example of two events A and B that are mutually exclusive, and explain why they are dependent events. Give an example of two events that are dependent, but are not mutually exclusive. Explain! Both examples and explanations are desired.

Describe the difference between the probability of two mutually exclusive events, two complementary events, and two...

Describe the difference between the probability of two mutually exclusive events, two complementary events, and two events that are not mutually exclusive. Give examples of each.

“If two events are mutually exclusive, they must not be independent events.” Is this statement true...

“If two events are mutually exclusive, they must not be independent events.” Is this statement true or false? Explain your choice.

(1) What is capital budgeting? (2) Explain the difference between independent project and mutually exclusive project....

(1) What is capital budgeting? (2) Explain the difference between independent project and mutually exclusive project. (3) Identify six methods to rank a project or methods used in capital budgeting. (4) Identify three methods to estimate the cost of equity? (5) Do you agree that the three methods will give similar results when the cost of equity is estimated?

Define the independent events. Give an example for each of them: a) Mutually exclusive b) Independent...

Define the independent events. Give an example for each of them: a) Mutually exclusive b) Independent c) Dependent - Can a pair of events be both mutually exclusive and independent?

Calculate and choose project/s assuming that these two projects are (1) mutually exclusive OR (2) independent....

Calculate and choose project/s assuming that these two projects are (1) mutually exclusive OR (2) independent. IRR (WACC 6%), specify range. CFs Year A B 0 -2050 -4300 1 750 1500 2 760 1518 3 770 1536 4 780 1554

what is the difference between mutually exclusive, independent and conditional probabilities?

The prior probabilities for events are ?1, ?2,and?3?(?1)=0.20, ?(?2)=0.50,?(?3)=0.30. (Note the events are mutually exclusive and...

The prior probabilities for events are ?1, ?2,and?3?(?1)=0.20, ?(?2)=0.50,?(?3)=0.30. (Note the events are mutually exclusive and collectively exhaustive). The conditional probabilities of event B given are ?1, ?2,and?3?(?|?1)=0.50, ?(?|?2)=0.40,?(?|?3)=0.30 1. Compute and .?(?⋂?1), ?(?⋂?2) and ?(?⋂?3) 2. Compute ?(?) 3. Apply Bayes’ theorem to compute the posterior probability, and .?(?1|?), ?(?2|?) and ?(?3|?)

1 Two events are mutually exclusive if they cannot occur at the same time. True False...

1 Two events are mutually exclusive if they cannot occur at the same time. True False 2. An apartment building has the following apartments: 1 bedroom 2 bedroom 3 bedroom 1st floor 3 1 1 2nd floor 2 2 2 3rd floor 1 4 1 If an apartment is selected at random, what is the probability that it is not a 2 bedroom apartment on the 2nd floor? 2/15 2/7 11/15 15/17 3. What probability value would be needed to...

1. If A and B are mutually exclusive events, does it follow that An and B...

1. If A and B are mutually exclusive events, does it follow that An and B cannot be independent events ? Give an example to demonstrate your answer. For example, discuss an election where only one person can win. Let A be the event that party A’s candidate wins, let B be the event that party B’s candidate wins. Does the outcome of one event determine the outcome of the other event ? Are A and B mutually exclusive events...

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