Determining probability loan request is approved

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Reference no: EM1318567

Q1) An urn contains 12 balls identical in every respect except their colour. There are three red balls, seven green balls, and two blue balls. You draw two balls from urn, but replace first ball before drawing the second. Determine the probability that first ball drawn is red and the second ball drawn is green.

Q2) Ann is applying for bank loan to open a pizza franchise. She should first complete a written application and then, if written application is approved, be interviewed by bank officers. If applicant's written application is not accepted applicant is not granted interview with the bank officers. Past records for this bank illustrate that probability of applicant having his or her written application approved is 0.63. Records also point to that interviewing committee of bank officers approves 85% of individuals they interview. Determine probability that Ann's loan request is approved.

Q3) A restaurant menu has price-fixed complete dinner which consists of appetizer, entrée, beverage, and dessert. You have selection of 5 appetizers, 10 entrees, 3 beverages, and 6 desserts. How many possible complete dinners are possible?

Reference no: EM1318567

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