Part 1. When a probability experiment only has two possible outcomes and you know the probability...

Part 1.

When a probability experiment only has two possible outcomes and you know the probability of one outcome, you can find the probability of the other outcome by computing (the complementary probability, using the addition rule, using the multiplication rule)

To find the probability of two (mutually exclusive, independent) events both occurring, you may simply multiply their individual probabilities.

When two scenarios are (mutually exclusive, independent) , we can simply add their probabilities together to find the probability that one scenario or the other scenario occurs.

Part 2.

When using the choose function, the top number n represents (number of successes, number of trials, probability) and the bottom number k represents (number of trials, probability, number of successes )

Part 3.

Suppose you flip a coin 6 times. For each of the 6 trials there are 2 possible outcomes, heads or tails. Heads and tails each have a probability of 0.5 per trial. Consider "heads" to be a success. What is the probability that you only have 2 successes in 6 trials? Round your answer to four digits after the decimal point.

Solutions

Expert Solution

milcah answered 8 months ago

Next > < Previous

Related Solutions

1.The classical probability concept applies only when all possible outcomes are _________. 2.In general, if r...

1.The classical probability concept applies only when all possible outcomes are _________. 2.In general, if r objects are selected from a set of n objects, any particular arrangement (order) of these objects is called.____________ The number of ways in which r objects can be selected from a set of n distinct objects (in other words, that is when the order of objects doesn't matter) is called___________ 3.The sum of the probability in the formula for the mathematical expectation is equal...

• Know-how p53 is activated during the cell cycle and what two outcomes are possible –...

• Know-how p53 is activated during the cell cycle and what two outcomes are possible – know the signaling pathways (you do not have to know how PUMA induces apoptosis, just that it does) • Know the types of chemical modulators of receptors – agonist/antagonist • Know the G-protein-linked signaling pathway – how it is activated and what happens downstream – be able to describe the signaling pathways that lead to PKA and PKC activation • Know the tyrosine-kinase signaling...

You are considering investing in a project with the following possible outcomes: Probability of Investment States...

You are considering investing in a project with the following possible outcomes: Probability of Investment States Occurrence Returns State 1: Economic boom 20% 16% State 2: Economic growth 40% 12% State 3: Economic decline 20% 5% State 4: Depression 20% -5% Calculate the standard deviation of returns for this investment. Round to the nearset hundredth percent. Answer in the percent format. Do not include % sign in your answer (i.e. If your answer is 4.33%, type...

3) Suppose you wanted to simulate possible profit outcomes, and you know that revenues have a...

3) Suppose you wanted to simulate possible profit outcomes, and you know that revenues have a 30% likelihood of being $2 million, 12% likelihood of being $3.5 million, 48% likelihood of being $4 million, and 10% likelihood of being $4.5 million. Furthermore, Costs have a 30% probability of being $3.25 million and a 70% probability of being $3.5 million. Using Excel, simulate 100 instances of profit. Calculate average, minimum, and maximum profits. Is 100 instances sufficient? Why or why not?

To the right are the outcomes that are possible when a couple has three children. Assume...

To the right are the outcomes that are possible when a couple has three children. Assume that boys and girls are equally likely, so that the eight simple events are equally likely. Find the probability that when a couple has three children, there is exactly 1 girl. 1st 2nd 3rd boy boy boy boy boy girl boy girl boy boy girl girl girl boy boy girl boy girl girl girl boy girl girl girl

An investment opportunity has 4 possible outcomes. The possible returns in each of these outcomes are...

An investment opportunity has 4 possible outcomes. The possible returns in each of these outcomes are -10.5%, -2.1%, 3.2% and 23.5%. If each of these outcomes is equally likely, what is the Expected Return (as measured by the population mean) of this investment? Provide the answer as a % with 1 decimal rounded off. If your answer is 3.56%, just enter/type "3.6"

An investment opportunity has 4 possible outcomes. The possible returns in each of these outcomes are...

An investment opportunity has 4 possible outcomes. The possible returns in each of these outcomes are -23.2%, -5.9%, 9.3% and 33.5%. If each of these outcomes is equally likely, what is the Expected Return (as measured by the population mean) of this investment? Provide the answer as a % with 1 decimal rounded off. If your answer is 3.56%, just enter/type "3.6"

You expect the following set of possible outcomes for a stock: Outcome Probability Ending Stock Price...

You expect the following set of possible outcomes for a stock: Outcome Probability Ending Stock Price Holding Period Return (Percent) Risk-free rate (Percent) Good 35% $120 44.5 4 Neutral 30% $100 14 2 Bad 35% $70 -16.5 .5 What is the variance of the risk-free rate? Please enter your answer rounded to the third decimal place.

You expect the following set of possible outcomes for a stock: Outcome Probability Ending Stock Price...

You expect the following set of possible outcomes for a stock: Outcome Probability Ending Stock Price Holding Period Return (Percent) Risk-free rate (Percent) Good 35% $120 44.5 4 Neutral 30% $100 14 2 Bad 35% $70 -16.5 .5 What is the covariance of the stock holding period returns with the stock's ending price? Please enter your answer rounded to the third decimal place.

Assume that the following probability distribution exists for automobile damages Possible Outcomes for Damages Probability $0...

Assume that the following probability distribution exists for automobile damages Possible Outcomes for Damages Probability $0 50% 600 30% 2,000 10% 7,000 6% 11,000 4% What is the expected value for damages? A. $12.40 B. $124 C. 1,240 D. 12,400 Can someone please explain how you got the answer. I'm stuck

Subjects