Question
In: Statistics and Probability
Amazen has a collection of books for sale. They are either paperbacks or hardcovers and either...
Amazen has a collection of books for sale. They are either paperbacks or hardcovers and either fiction or nonfiction. Forty percent of the books are fiction and 65% are paperbacks, Also, 25% of the fiction books are hardcover. Now, a book is selected at random.
a. What is the probability that it is a paperback?
Solutions
Expert Solution
a.
It is given that, probability that the book is a paperback = 0.65
b.
Given,
P(hardcover | fiction) = 0.25
Probability that it is a paperback, given that it is a fiction = P(paperback | fiction)
= 1 - P(hardcover | fiction)
= 1 - 0.25 = 0.75
c.
P(hardcover) = 1 - P(paperback) = 1 - 0.65 = 0.35
By Bayes theorem,
Probability it is a nonfiction, given that it is hardcover = P(nonfiction | hardcover)
= 1 - P(fiction | hardcover)
= 1 - P(hardcover | fiction) P(fiction) / P(hardcover)
= 1 - 0.25 * 0.4 / 0.35
= 0.7142857
d.
Probability it is a nonfiction, given that it is paperback = P(nonfiction | paperback)
= 1 - P(fiction | paperback)
= 1 - P(paperback | fiction) P(fiction) / P(paperback)
= 1 - 0.75 * 0.4 / 0.65
= 0.5384615
Probability it is either nonfiction or paperback = P(nonfiction or paperback)
= P(nonfiction) + P(paperback) - P(nonfiction and paperback)
= 1 - P(fiction) + P(paperback) - P(nonfiction | paperback) P(paperback)
= 1 - 0.4 + 0.65 - 0.5384615 * 0.65
= 0.9
orchestra answered 2 years agoRelated Solutions
Amazen has a collection of books for sale. They are either paperbacks or hardcovers and either...
Amazen has a collection of books for sale. They are either
paperbacks or hardcovers and either fiction or nonfiction. Forty
percent of the books are fiction and 65% are paperbacks, Also, 25%
of the fiction books are hardcover. Now, a book is selected at
random. a. What is the probability that it is a paperback? b. What
is the probability that it is a paperback, given that it is a
fiction? c. What is the probability it is a nonfiction,...
Amazen has a collection of books for sale. They are either paperbacks or hardcovers and either...
Amazen has a collection of books for sale. They are either
paperbacks or hardcovers and either fiction or nonfiction. Forty
percent of the books are fiction and 65% are paperbacks, Also, 25%
of the fiction books are hardcover. Now, a book is selected at
random. a. What is the probability that it is a paperback? b. What
is the probability that it is a paperback, given that it is a
fiction? c. What is the probability it is a nonfiction,...
The difference in price between hardback books and paperbacks is MOSTLY due to differences in production...
The difference in price between hardback books and paperbacks is
MOSTLY due to differences in production costs. *
True
False
Instagram is a social networking Web site that is used by a
growing number of individuals. Due to its popularity, it is now
more difficult for new networking websites to enter and compete
with Instagram. Instagram enjoys __________ as a barrier for others
to enter the market. *
a network externality
price discrimination
a negative externality
economies of scale
Statistics and probbility collection consisting of 5 engineering books, 4 algebra books, 3 differential books, 5...
Statistics and probbility
collection consisting of 5 engineering books, 4 algebra books, 3
differential books, 5 physics books ,3 Chemistry books, 4 Biology
books to be put together on a shelf.
Find the following:
1- The number of ways to arrange books together on a shelf
2 - The number of ways to arrange books so that the books of
each course are together.
3– Number of ways to arrange books so that mathematics books are
together and science books...
The sale of cigarettes in many developed countries either has peaked or is declining. However, the...
The sale of cigarettes in many developed countries either has
peaked or is declining. However, the developing markets represent
major growth markets. Should U.S. tobacco companies capitalize on
this opportunity? Write it in 2 paragraphs and Give your opinion
and some examples
PT Arya has several transactions with suppliers related to business operations, namely the sale of books...
PT Arya has several transactions with suppliers
related to business operations, namely the sale of books and
stationery. Keep a journal of the transaction!
1. PT Arya bought AC-coded books from PT Media Ilmu on credit for
100 units at a unit price of Rp150,000 FOB Shipping point, 3/10, n
/ 30. This price does not include Value Added Tax 10%
2. PT Arya bought stationery supplies worth Rp 40,000,000 by
issuing notes with a term of 6 months and...
The class Polynomials is a collection of polynomials of either implementation stored in an instance of...
The class Polynomials is a collection of polynomials of either
implementation stored in an instance of the
generic library class List.
class Polynomials
{
private List L;
// Creates an empty list L of polynomials
public Polynomials ( )
{ … } (1 mark)
// Retrieves the polynomial stored at position i in L
public Polynomial Retrieve (int i) (1 mark)
{ … }
// Inserts polynomial p into L
public void Insert (Polynomial p) (1 mark)
{ … }...
Diversified Products, Inc., has recently acquired a small publishing company that offers three books for sale—a...
Diversified Products, Inc., has recently acquired a small
publishing company that offers three books for sale—a cookbook, a
travel guide, and a handy speller. Each book sells for $10. The
publishing company’s most recent monthly income statement is shown
below.
Product Line
Total Company
Cookbook
Travel Guide
Handy Speller
Sales
$
300,000
$
90,000
$
150,000
$
60,000
Expenses:
Printing costs
102,000
27,000
63,000
12,000
Advertising
36,000
13,500
19,500
3,000
General sales
18,000
5,400
9,000
3,600
Salaries
33,000
18,000
9,000...
Diversified Products, Inc., has recently acquired a small publishing company that offers three books for sale—a...
Diversified Products, Inc., has recently acquired a small
publishing company that offers three books for sale—a cookbook, a
travel guide, and a handy speller. Each book sells for $11. The
publishing company’s most recent monthly income statement is shown
below.
Product line
Total
Company
Cookbook
Travel
Guide
Handy
Speller
Sales
$
350,000
$
121,000
$
166,000
$
63,000
Expenses:
Printing costs
117,000
42,000
64,500
10,500
Advertising
37,000
19,000
17,000
1,000
General sales
21,000
7,260
9,960
3,780
Salaries
32,000
17,000
10,500...
Diversified Products, Inc., has recently acquired a small publishing company that offers three books for sale—a...
Diversified Products, Inc., has recently acquired a small
publishing company that offers three books for sale—a cookbook, a
travel guide, and a handy speller. Each book sells for $12. The
publishing company’s most recent monthly income statement is given
below:
Product Line
Total
Company
Cookbook
Travel
Guide
Handy
Speller
Sales
$
355,000
$
125,000
$
168,000
$
62,000
Expenses:
Printing costs
118,000
43,000
66,000
9,000
Advertising
38,000
19,100
17,500
1,400
General sales
21,300
7,500
10,080
3,720
Salaries
33,000
18,000
10,600...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Suppose you are trying to determine the capacity (in gallons) of the gas tank needed on...
- List the arithmetic operators used in BASIC and state their priorities of execution in a statement....
- Describe the espoused values of a company you have worked for (or been exposed to -...
- Can you explain to me the differnces in how we paid for the health care (access...
- Discuss proactive and defensive marketing in context to the company position in the hypothetical market structure...
- Write a java code that could be used to show the simulation of a tornado. use...
- A Canadian company issues an 8-year term bond with face value of $1,000 and 6% coupon...
ADVERTISEMENT