Random selection of company-determining probability

Assignment Help Basic Statistics
Reference no: EM1387236

The U.S. Bureau of Labor Statistics publishes data on the benefits offered by small companies to their employees. Only 42% offer retirement plans while 61% offer life insurance. Suppose 31% offer both retirement plans and life insurance as benefits. If a small company is randomly selected, determine the following probabilties:

a. The company offers a retirement plan given that they offer life insurance.

b. The company offers life insurance given that they offer a retirement plan.

c. The company offers life insurance or a retirement plan.

d. The company offers a retirement plan and does not offer life insurance.

e. The company does not offer life insurance if it is known that they offer a retirement plan.

Reference no: EM1387236

Questions Cloud

Complimentary base pairing in dna replication : Explain the role of double helix in complimentary base pairing in DNA replication. What does it mean when we say that the two strands of DNA in the double helix are antiparallel?
Compare the information you found with the information : Compare the information you found with the information in the text. Answer the following question with supporting references
Illustrate out the term human consciousness : Illustrate out the term human consciousness? How is this central feature of our existence related to the natural functions of our physical bodies?
Php code to add new product and delete existing product : PHP Code to add the new product and delete existing product. Execute AJAX Programming based solutions to write a code to: Add the new product to the database.
Random selection of company-determining probability : Suppose 31% offer both retirement plans and life insurance as benefits. If a small company is randomly selected, determine the following probabilties:
Examples of disruptive selection : Determine which of the following is examples of disruptive selection and which of the following describes balancing selection.
Do you need to work for companies which make such charges : Do you believe which every customer pays hidden or unanticipated charges for the things which they buy? High rate of interest on unpaid balances; Yearly membership fees; Service charges; Are such charges ethical? Do you need to work for companies ..
Classification of kinds of dualism : Is there any interdependence between the clasification of the kinds of dualism according to mind-body causal relationship and that according to the ontic category membership of mental phenomena?
Nature of plato dualism : Critically discuss the nature of Plato's "dualism." Why is it a "reality" that we need to consider in terms of philosophical discovery, logical debate, and growth as human beings?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Pollution reduction should appalachian coal mining undertake

Appalachian Coal mining believes it can enhance labor productivity and therefore net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is.

  Probability through conditional probability

Given that both balls selected are white what is the probability that bowl 3 was selected?

  Non-stationary poisson process

If customers arrive according to a non-stationary Poisson process with rate function λ(t) = sin(t) + 5, is the time between the arrivals an exponential distribution?

  Decision regarding observed and expected frequencies

What is our decision regarding differences between observed and expected frequencies if critical value of chi-square is 9.488 and computed value is 6.079.

  Normal approximation to determine probability

Use normal approximation to determine probability that x = 2. Illustrate all work.

  Chi-square test of independence with level of significance

Use the Chi-square test of independence with a .01 level of significance to determine whether appeal is independent from type.

  What is the post-test probability of disease

what is the post-test probability of disease being present in a patient with a positive test result for test A if a cutoff value of 4.0 mg/ml is chosen?

  Profit value using crystal ball software

How much net profit can John expect (on average) to earn from the store in total over the next five years?

  Estimating probability based on the discrete distribution

The casino game craps is based on rolling two dice. Here is the assignment of probabilities to the sum of numbers on the up face when two dice are rolled:

  Population mean weight of athelete

At the 5% level of significance, can we infer that the population mean weight of athletic men is lower than the population mean weight of non-athletic men by more than 2 pounds?

  Determining mean of money withdrawn from atms

If random sample of thirty six customer transactions points out that sample mean withdrawal amount is $172, is there evidence to think that population mean withdrawal amount is no longer $160? Determine the mean of data above?

  Computing value of coefficient in objective function

What is Excel formula in B9 giving first value of coefficient in the objective function?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd