A valid probability model

Reference no: EM13283339

suppose s= {2,3,4....{ and P(k)=a^k, k=2,3,4....
(a) find the value of a that makes this is a valid probability model
(b)find P(outcome is divisible by 2)

question 2:
A dashboard warning light is supposed to flash red if a car's oil pressure is too low. On David's aging 2000 Toyota, the probability of the light flashing when it should is 0.98. Due to a known defect, 3% of the time it flashes for no apparent reason. If there is a 10% chance that the oil pressure really is low, what is the probability that David needs to be concerned if the warning light comes on>

question 3:
number of accidents under 40yrs old over 40
0 170 80
1 80 70
more than 1 50 50

(a) what is the probability that the person selected is over 40 and has had more that 1 accident?
(b) what is the probability that the person selected is either over 40 or has had more that 1 accident(or both)?
(c) find the probability that the person selected is over 40 given that he has more than 1 accident.
(d) suppose that the person selected is over 40. what is the probability that he had more than 1 accident?

Reference no: EM13283339

Questions Cloud

Risk averse-risk seeking or risk neutral : Interview a businessperson who makes decisions, some of which are likely to involve some degree of risk. Assess their utility curve for money similar to the one that was constructed in the Measuring Risk (page three) lecture from earlier this week.

Social responsibility is the branch of philosophy : A socially responsible business person believes that the formal legal law is inferior to universal moral and ethical principles that can be determined by intuition. Social responsibility is the branch of philosophy that focuses on morally right and w..

Observe social responsibility standards higher : Corporations should not merely obey the law but rather should seek and observe social responsibility standards higher than the law since at times the law is silent or is not enforced. Corporate profit-seeking at times involves unacceptable social cos..

The goal of statistical procedures : Statistical questions tend to fall into what two main categories?

A valid probability model : A valid probability model

A normal distribution with a standard deviation : Loans that are 60 days or more past due are considered seriously delinquent. The Mortgage Bankers Association reported that the rate of seriously delinquent loans has an average of 9.1% (The Wall Street Journal, August 26, 2010). Let the rate o..

The probability of making a positive return : A young investment manager tells his client that the probability of making a positive return with his suggested portfolio is 96%. What is the risk (standard deviation) that this investment manager has assumed in his calculation if it is known t..

Express the original claim in symbolic form : Express the original claim in symbolic form.

Describe the roles of the executive branch-congress : Describe the roles of the Executive Branch, Congress, and defense industry in Defense Acquisition. What are some of the responsibilities and objectives of each sector?

User Account

All Pages