Question

In: Math

1. A recent survey reported in BusinessWeek dealt with the salaries of CEOs at large corporations...

1.

A recent survey reported in BusinessWeek dealt with the salaries of CEOs at large corporations and whether company shareholders made money or lost money.
CEO Paid
More Than
$1 Million		 CEO Paid
Less Than
$1 Million		 Total
  Shareholders made money 6         15         21     
  Shareholders lost money 8         4         12     
       Total 14         19         33     

If a company is randomly selected from the list of 33 studied, calculate the probabilities for the following :
(a) The CEO made more than $1 million. (Round your answers to 3 decimal places.)
  Probability   
(b)

The CEO made more than $1 million or the shareholders lost money. (Round your answers to 3 decimal places.)
  Probability   
(c)

The CEO made more than $1 million given the shareholders lost money. (Round your answers to 3 decimal places.)
  Probability   
(d)

Select 2 CEOs and find that they both made more than $1 million. (Round your answers to 3 decimal places.)
  Probability   

2.

The probability a HP network server is down is .062. If you have four independent servers, what is the probability that at least one of them is operational? (Round your answer to 6 decimal places.)
  Probability   

Solutions

Expert Solution

1.

(a)

P( The CEO made more than $1 million ) = 14/33 = 0.424

So,

Answer is:

Probability 0.424

(b)
P( The CEO made more than $1 million or the shareholders lost money) = P( The CEO made more than $1 million) + P( the shareholders lost money) - P( The CEO made more than $1 million AND the shareholders lost money.)

= 14/33 + 12/33 - 8/33

= 18/33

= 0.545

Answer is:

Probability 0.545

(c)

P( The CEO made more than $1 million / the shareholders lost money) = P( The CEO made more than $1 million AND the shareholders lost money)/ P(the shareholders lost money)

= 8/12

= 0.667

Answer is:

Probability 0.667

(d)

P( Select 2 CEOs and find that they both made more than $1 million. ) = 0.4242 = 0.180

Answer is:

Probability 0.180

2.

P( at least one of them is operational ) = 1 - P(All 4 servers are not operational)

= 1 - 0.0624

= 1 - 0.00001478

= 0.999985

Answer is:

Probability 0.999985

milcah answered 1 year ago
Next > < Previous

Related Solutions

A Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for...
A Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 240 of 400 executives answered Yes, while in a previous year survey, 199 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at...
A Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for...
A Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 240 of 400 executives answered Yes, while in a previous year survey, 198 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at...
A Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for...
A Businessweek/Harris survey asked senior executives at large corporations their opinions about the economic outlook for the future. One question was, "Do you think that there will be an increase in the number of full-time employees at your company over the next 12 months?" In the current survey, 230 of 400 executives answered Yes, while in a previous year survey, 191 of 400 executives had answered Yes. Provide a 95% confidence interval estimate for the difference between the proportions at...
Recent legislation requires CEOs of public corporations to sign an affidavit, a sworn statement, stating that...
Recent legislation requires CEOs of public corporations to sign an affidavit, a sworn statement, stating that all accountings put forth by the company are accurate and not misleading; not to the best of their knowledge, but that they are accurate and not misleading. Obviously, the CEO of most public corporations can't personally perform all aspects of these accountings. Instead, they must rely on the accuracy of employees assigned to perform such tasks at various levels. The legislation makes the CEO...
Explain corporate social responsibility and why some CEOs of large corporations are engaging in social responsibility...
Explain corporate social responsibility and why some CEOs of large corporations are engaging in social responsibility regardless of the ethical outcomes?
2. Starting salaries. You are planning a survey of starting salaries for recent computer science majors....
2. Starting salaries. You are planning a survey of starting salaries for recent computer science majors. In the latest survey by the National Association of Colleges and Employers, the average starting salary was reported to be $61,287. If you assume that the standard deviation is $3850, what sample size do you need to have a margin of error equal to $500 with 95% confidence? (report as an integer) 3. Suppose that in the setting of question 2 you have resources...
According to a recent survey, the salaries of assistant professors have a mean of $41,750 and...
According to a recent survey, the salaries of assistant professors have a mean of $41,750 and a standard deviation of $8000. Assuming that the salaries of assistant professors follow a normal distribution, find the proportion of assistant professors who earn at most $45,000. Round your answer to at least four decimal places.
1. In October 2000, the U.S. Department of Commerce reported the results of a large-scale survey...
1. In October 2000, the U.S. Department of Commerce reported the results of a large-scale survey on high school graduation. Researchers contacted more than 25,000 Americans aged 24 years to see if they had finished high school; 83.9% of the 12,460 males and 87.8% of the 12,678 females indicated that they had high school diplomas. a. Are the assumptions and conditions necessary for inference satisfied? Explain. b. Create a 95% confidence interval for the difference in graduation rates between males...
A recent survey asked: Is it morally wrong for corporations to use tax havens? Its results:...
A recent survey asked: Is it morally wrong for corporations to use tax havens? Its results: Most said yes. See http://environicsresearch.com/insights/nine-ten-canadians-think-morally-wrong-canadian-corporations-use-tax-havens-new-poll/. Delving deeper into the issue of tax avoidance, you will go beyond the news release. You will examine the polling data, not just the news release. You will round up the news coverage of the survey results. You will gain a sense of the public debates of tax avoidance in Canada. You will learn from relevant studies on tax...
A recent survey asked: Is it morally wrong for corporations to use tax havens? Its results:...
A recent survey asked: Is it morally wrong for corporations to use tax havens? Its results: Most said yes. See http://environicsresearch.com/insights/nine-ten-canadians-think-morally-wrong-canadian-corporations-use-tax-havens-new-poll/. Delving deeper into the issue of tax avoidance, you will go beyond the news release. You will examine the polling data, not just the news release. You will round up the news coverage of the survey results. You will gain a sense of the public debates of tax avoidance in Canada. You will learn from relevant studies on tax...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT