Question

In: Statistics and Probability

During the recent graduation season in Namibia a total of 8000 students graduated from three different...

During the recent graduation season in Namibia a total of 8000 students graduated from three different universities UNAM, NUST and IUM. Of the 8000 graduates, 4000 students graduated from UNAM, 3000 students graduated from NUST, while the rest of the students graduated from IUM. A total of 85 out of every 100 students from UNAM graduated from their Business School, while at NUST, 65 out of every 100 students graduated from their Business School, and at IUM, 60 out of every 100 students graduated from their Business School. The Minister of Education in Namibia, randomly selects a student who graduated during this graduation season:

1.1) Find the probability that the selected graduate is from a Business School. (7)

1.2) Calculate the probability that the randomly selected graduate from a Business School is from NUST. (5)

Expert Solution

1.1) We are asked to calculate the probability that the selected graduate is from a Business school.

Probability of UNAM's Business school as the selected Business school=(since there are three Business schools, probability of selecting one out of three schools is 1/3)denoted by A

Probability that the graduate is from UNAM= denoted by B

Probability of NUST's Business school is the selected Business school= denoted by C

Probability that the graduate is from NUST= denoted by D.

Probability of IUM's business school is the selected Business school= denoted by E.

Probability that the graduate is from IUM= denoted by F.

So, probability that the selected graduate is from a Business school denoted by G is,

(taking 3 and 100 common in the denominator)

Hence the probability that the selected graduate is from a Business school is 0.7

1.2) We are asked to calculate the probability that the randomly selected graduate from a Business school is from NUST.

Let A be the event that NUST's Business school is selected.

Probability of NUST's Business school is selected, (since there are three Business schools, probability of one of the Business school is selected is 1/3).

Let B be the event that the graduate is from NUST's Business school.

Probability that the graduate is from NUST's Business school is,

Let the event that the randomly selected graduate from a Business school is from NUST be denoted by C.

Probability that the randomly selected graduate from a Business school is from NUST,

Hence the probability that the randomly selected graduate from a Business school is from NUST is 0.217

orchestra answered 2 years ago

Maria Gutierrez and Devin Duzan recently graduated from the same university. After graduation they decided not...

Maria Gutierrez and Devin Duzan recently graduated from the same university. After graduation they decided not to seek jobs at established organizations but, rather, to start their own small business hoping they could have more flexibility in their personal lives for a few years. Maria’s family has operated Mexican restaurants and taco trucks for the past two generations, and Maria noticed there were no taco truck services in the town where their university was located. To reduce the amount they...

In a recent report of post-graduation plans of American college seniors, 45% of students were going...

In a recent report of post-graduation plans of American college seniors, 45% of students were going to work in a field related to their majors; 20% were going to get further education and 35% were uncertain about their plans. Out of a recent random sample of 200 CSUF seniors, 100 were going to work in a field related to their majors; 20 were going on to get more education and 80 were uncertain about their futures. Use this information to...

You have recently graduated from college with an MBA. Upon graduation, you start working for Roosevelt...

You have recently graduated from college with an MBA. Upon graduation, you start working for Roosevelt Power Plant. The boss, Mr. Jones, invites you into his office. Mr. Jones describes to you a large fraud that has recently taken place in the company. He asks you what actions should be taken to ensure that fraud does not occur again. After analyzing the company, you compile a list of actions that will be needed to prevent fraud from occurring again. Upon...

Last year, Jimmy graduated from First City University and received USD 5,000 from his father as a graduation...

Last year, Jimmy graduated from First City University and received USD 5,000 from his father as a graduation gift. Jimmy, , recently heard from a friend who earns a profit from investing in the bond market during this pandemic time. JImmy does not know much about investing or how people actually “make money by investing”. He asked you to help him in making a wise investment plan. Required: Before investing any money, explain to Jimmy about the risk involved. Calculate the expected...

In a recent study, among recently-graduated university students of the sample, only 4% of them wrote...

In a recent study, among recently-graduated university students of the sample, only 4% of them wrote with their left hand. Yet, among grade 1 elementary-school students from the same sample, a full 20% of them wrote with their left hand. What is wrong with the conclusion from these data that writing with the left hand is bad for university success?

Andy "Nard Dog" Bernard recently graduated from Cornell. As a graduation gift, Nard Dog's Father gave...

Andy "Nard Dog" Bernard recently graduated from Cornell. As a graduation gift, Nard Dog's Father gave him the family's old Toyota Prius because, according to the father, "the Ferarri feels more like your brother and the old Prius seems more your style." The Prius was originally purchased 8 years ago for $33,000 and today it is worth $16,000. Is the gift taxable to Andy? If so, how much is taxable? Cite at least one section of the Internal Revenue Code...

A Study of recent graduates from BSCC revealed that for a sample of 10 recently graduated...

A Study of recent graduates from BSCC revealed that for a sample of 10 recently graduated Accounting Technology majors the mean salary was $32,000 per year with a sample standard deviation of $1,800. A sample of 8 business Administration majors revealed a mean salary of $29,000 per year with a sample standard deviation of $2,000. At the .05 significance level, can we conclude there is a difference in the starting salaries? 1. State the Null and Alternate Hypothesis(H0, H1). 2....

3. If production volume increases from 8000 to 10 000 units, a. total costs will increase...

3. If production volume increases from 8000 to 10 000 units, a. total costs will increase by 20 per cent. b. total costs will increase by 25 per cent. c. total variable costs will increase by 25 per cent. d. mixed and variable costs will increase by 25 per cent.4. The direct material cost is £10 000 when 2000 units are produced. What is the direct material cost for 2500 units produced? a. £10 000 b. £8000 c. £15 000 d. £12 500 5. Fixed cost...

Q2: You have just graduated from MBA program with finance major. Immediately after graduation you have...

Q2: You have just graduated from MBA program with finance major. Immediately after graduation you have been hired as a financial analyst in a highly prestigious listed company name Cornejo. Your first assignment is to estimate the cost of equity capital and stock price of the company. Your assistant gathered the following information for you: The dividend per share (DPS) record of the company over the last 5 years is as follows: Year Dividend per Share (DPS) t-5 7.80...

Data from the National Football League (NFL) from a recent season reported the number of yards...

Data from the National Football League (NFL) from a recent season reported the number of yards gained by each of the league's wide receivers. The data in this Excel file nfl_receiver_yds_webassign shows the yards gained by each wide receiver in the NFL who gained 50 or more yards during the season. The number of yards gained is right-skewed and therefore a normal model is NOT a good model for the data. However, the square root of the number of yards...