Determining probability relationships

Reference no: EM1399713

Suppose you, as manager of Tennessee Grilled Pork, will submit proposals for a small business loan and a city business grant to help fund the building of the new location you submitted to the management teams. The probability of acquiring the small business loan is .79 and the probability of obtaining the city business grant is .25. There is also a small chance, .09, you could be awarded both funding sources.

What is the probability of receiving either the loan or the grant?

What is the probability of receive neither the loan nor the grant?

Reference no: EM1399713

Questions Cloud

Joint and marginal probability mass function : Box 1 has 3 chips numbered 1,2,3. Box 2 has 2 chips numbered 1 and 2. Suppose a chip is randomly selected from box 1 and placed in box 2.

Absolute value of difference between face values : A pair of dice is tossed once. Let X denote the sum of the face values, and let Y denote the absolute value of the difference between the face values.

How can lean manufacturing as well as near-sourcing : How can lean manufacturing as well as near-sourcing help a company gain a competitive edge as well as prepare for the future?

What limits must be placed on earmarks : Where do you draw the line? What limits must be placed on earmarks? Does your attitude on the way to earmarks vary with the extent to which you agree with the causes the causes the earmark is promoting?

Determining probability relationships : Suppose you, as manager of Tennessee Grilled Pork, will submit proposals for a small business loan and a city business grant to help fund the building of the new location you submitted to the management teams.

Mean-median-sum of squared deviations : For the following scores, find the (a) mean, (b) median, (c) sum of squared deviations, (d) variance, and (e) standard deviation:

Explain database management systems : Consider the subsequent opinion shared by some people- database management systems as well as data-warehousing techniques are the greatest risk to individual privacy in modern times

Calculate the workstation cycle time : Some tasks and the order in which they must be performed according to their assembly requirements are shown in the following table. These are to be combined into workstations to create an assembly line.

Point estimate of the proportion of all light bulbs : 206 randomly selected light bulbs were tested in a laboratory, 161 lasted more than 500 hours. Find a point estimate of the proportion of all light bulbs that last more than 500 hours.

User Account

All Pages