What is the probability that he is correct in deciding

Assignment Help Business Economics
Reference no: EM132201053

Bob goes to a party, wearing a hat that fits him well. At the end of the party, Bob picks up a hat, without looking at it. He knows that the hat he has picked is his own with probability p. As a first check to see if he has picked up his own hat, he tries the hat, and if it fits, he decides that it is his own hat.

However, even if the hat picked by Bob is not his own, it is still possible that it fits with probability q. Given that Bob picked a hat that fits him, what is the probability that he is correct in deciding that the hat is indeed his own?

Reference no: EM132201053

Questions Cloud

Performance artists in a twelve month period : The average and standard deviation of the amount of Goods and Services tax remitted by performance artists in a twelve month period
Analyze approaches for data gathering and evaluation : Analyze theories for an identified issue - issue you identified in the Discussion last week. Provide examples showing how they relate to your issue
Best-selling cars in north america : The Toyota Camry is one of the best-selling cars in North America. The cost of a previously owned Camry depends upon many factors, including the model year
Do interest groups make america more or less democratic : Do Interest groups make America more or less democratic? Describe some of the different strategies that interest groups may employ to gain influence.
What is the probability that he is correct in deciding : Given that Bob picked a hat that fits him, what is the probability that he is correct in deciding that the hat is indeed his own?
New cholesterol medication for male teenagers : Doctors are researching a new cholesterol medication for male teenagers. Eighteen (18) randomly selected male teenagers have taken the new medication
Write a java program that would ask the user to enter : Write a java program that would ask the user to enter an input file name, and an output file name.
Relationship between a person body mass index : There is a linear relationship between a person's body mass index (BMI) and their HDL cholesterol. Doctors wanted a 95% confidence interval for the true
Determine and display the smallest and largest values : Determine and display the smallest and largest values contained in 99-element floating point array w.

Reviews

Write a Review

Business Economics Questions & Answers

  Multinational management-a strategic approach

Can you help me with this question 200 The text is Cullen, J.B., & Parboteeah, K.P. (2014). Multinational management: A strategic approach (6th ed.). Mason, OH:

  Spend on bagels and other goods throughout the year

The Einstein Bagel Corp. has used a frequent buyer program whereby a consumer receives a stamp each time she purchases one dozen bagels for $6. After a consumer accrues 10 stamps, she receives one dozen bagels free. Given this information, construct ..

  Long term government bond yields

Bill Bulge owned a grocery store in Missouri. In order to finance some inventory, he borrowed $3000 from Big Bucks Bank. The written agreement called for 20% interest to be paid at a time when long term government bond yields were 12%. At maturity, B..

  Federal government calculates the budget on a fiscal year

The federal government calculates the budget on a fiscal year that begins each year on October 1 and ends the following September 30. At the beginning of the 2005 fiscal year, the Congressional Budget Office [CBO] forecast that the federal budget def..

  Q1 james marshallian demand function clarifies the utility

q1. james marshallian demand function clarifies the utility maximization problem that is max u x1 x2. as the cost of

  What are the determinants of demand

What are the determinants of demand? What happens to the demand curve when any of these determinants change? Distinguish between a change in demand and a movement along a fixed demand curve, noting the cause(s) of each.

  Find the probability that the person is frequently

The table below shows the results of a survey that asked 2873 people whether they are involved in any type of charity work.

  Assume no realtor is involved in the sale

Illustrate what is the impact of this sale on GDP for 2002. Assume no realtor is involved in the sale.

  Expertise to analyze the queen complaint

The queen is quite upset with the new policy, mumbling something about "ripoff artists" in reference to coconut producers.

  Treasury of sold bonds to finance the budget deficit

In the Republic of? Ragu, the currency is the rag. During? 2009, the Treasury of Ragu sold bonds to finance the Ragu budget deficit. In? all, the Treasury sold? 50,000 10-year bonds with a face value of 100 rags each.

  Module with the function notation

How often do you expect the mpg of a vehicle to be 17.2 mpg or lower? Show work like shown in the module with the function notation, finding the z-score.

  How adverse selection manifests

Define adverse selection in a general way and then provide a more specific definition of adverse selection in an insurance market and explain how adverse selection manifests itself and becomes a problem in insurance markets.

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