Explain why might assumption of independence be violated

Assignment Help Business Management

Reference no: EM13113205

Q. The probability is 1 in $4,000,000 that a single auto trip in the United States will result in a fatality. Over a lifetime, an average US driver takes 50,000 trips. Illustrate what is the probability of a fatal accident over a lifetime? Explain your reasoning. Suppose independent events. Explain why might the assumption of independence be violated? Explain why a driver might be tempted not to use a seat belt "just on this trip?"

Reference no: EM13113205

Questions Cloud

Determine hypothesis testing-levels of significance : The mean weight for a certain type of fish is known to be 28.0 ounces with a standard deviation of 2.5 ounces . A game warden catches and weighs 30 fish from a certqin pond to check if they are larger than the mean stated above.

How many kilograms of carbon dioxide are produced : How many kilograms of CO2 are produced from the complete combustion of 1.00L of gasoline assume that the gasoline has the formula C8H18.

List the bonds in the most likely order of the interest rate : Consider the subsequent four debt securities, which are identical in every characteristic except as noted: List the bonds in the most likely order of the interest rates (yields to maturity) of the bonds from highest to lowest. Explain your work

What credit score defines top five percent of scores : A mean score of 600 and a standard deviation of 100. What credit score defines the top five percent of scores. Within what range would 85% of credit score fall.

Explain why might assumption of independence be violated : Suppose independent events. Explain why might the assumption of independence be violated? Explain why a driver might be tempted not to use a seat belt "just on this trip?"

Test of hypothesis-academic approach : Reis, Inc., a New York real estate research firm, tracks the cost of apartment rentals in the United States. In mid-2002, the nationwide mean apartment rental rate was $895 per month

Probability that cigar-smoking businessmen is republican : If p(s/d)=30 % of the Democrats smoke cigars, and p(s/d')=50% of Republicans smoke cigars also. What is the probability that a cigar- smoking businessmen is a Republican?

Three main types of business organizations are partnerships : Illustrate what is the duration of the "life" of each of these organizations? If you were forming a business entity and had no intent to go public (sell stock on the stock exchanges), illustrate what form would you use and explain why?

How many moles of carbon, c , were in the original sample : An unknown compound contains only carbon, hydrogen, and oxygen (C_xH_yO_z). Combustion of 5.50 of this compound produced 8.07 of carbon dioxide and 3.30 of water.

User Account

All Pages