A consulting firm submitted a bid for a large research project. The firm's management initially felt they had a 50-50 chance of gettingthe project. However, the agency to which the bid was submitted subsequently reguested additional information on the bid. Pastexperience indicates that for 71% of the successful bids and 37% of the unsuccessful bids the agency requested additionalinformation.I What is the prior probability of the bid being successful (that is, prior to the request for additional information)?I What is the conditional probability of a request for additional information given that the bid will ultimately be successful?1 Compute the posterior probability that the bid will be successful given a request for additional information (to 2 decimals).

Answered: Image /qna-images/answer/ddd13fe0-9178-46ee-87b4-3b5cfeafa848.jpg

Answered: A consulting firm submitted a bid for a…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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Every year, the vetrinary hospital at a major research university treats a number of horses that have stones called enteroliths in their guts. AS sample of 20 years shows that on average about 2% of horses presenting at the veterinary hospital are treated for enteroliths. Some breeds of horses seem more prone to developing enteroliths than others. Below is a table with the distribution of enteroliths among the breeds. breed Fijian Thoroughbred Morgan Quarter Horse probability 0.4 0.2 0.3 ? The probability that a horse arriving at the veterinary hospital is not a Fijian, Thoroughbred, or a Quarter horse is?
Please help me with the following problem.
hello, i got the answer for a,b, and c. Can you please help me with at least items d and e? I hope it's also explained well and has calculations.
Answer the question in the image attatched below
Oxnard petri Ltd is buying hurricane insurance for it's off-coast drilling platform. During the next five years, the probability of total loss of only the above-water superstructure ($250 million) is .25, the probability of total loss of the facility ($950 million) is.25, and the probability of no loss is.50. Find the expected loss.( Input the amount as a positive value.) Expected Loss is what?
please answer the question down below!
In automotive repair, experience has shown that a rough - running engine can be attributed to the bad ignition wires 35% of the time, bad spark plugs 80% of the time, and both problems 20% of the time. Suppose a mechanic begins to diagnose the problem by checking the spark plugs first and find them to be bad. Given this information, what is the probability that the wires are also bad?
June is a student taking a statistics course. Unfortunately, June is not a diligent student. She does not read the textbook before or after class, does not do homework, and regularly misses class. She intends to rely on luck to pass the next quiz. The quiz consists of 10 multiple-choice question. Each question has five possible answers. Only one of the answers is correct, so the probability of choosing the correct answer is 0.20. June plans to guess the answer to each question independently. Let � be the number of correct answers on June’s quiz. What is the standard deviation of correct answers for June? Group of answer choices 8 2 1.26 1.14 None of These
Take a Ś digit Yandom numbers o7 size So, sum each S digit Kandom numbers and consider them as Make a find its mean and valiance. a Yandom valiable. probabislity distribution and
In a recent year, the percentage of patients at a doctor's office who received a flu shot was 60%. A campaign by the doctors and nurses was designed to increase the percentage of patients who obtain a flu shot. The doctors and nurses believed there was an 80% chance that someone who received a shot in year 1 would obtain a shot in year 2. They also believed that there was a 40% chance that a person who did not receive a shot in year 1 would receive a shot in year 2. Complete parts (a) through (c) below. (a) Give the transition matrix for this situation. Set up the transition matrix P so that the first row and first column represent obtaining a flu shot and the second row and second column represent not obtaining a flu shot. P = (Type an integer or decimal for each matrix element.)
Determining the prevalence of illicit substances in society can be very difficult. Simply looking at police records doesn’t give the whole picture, and any surveys designed to determine usage are subject to all sorts of biases. In particular, if responding “yes” to a particular question carries with it a stigma or implication of guilt, then many respondents will lie. To alleviate this issue, we can use a survey design that is based on conditional probability. Suppose we want to estimate the proportion of the Helena population who have used marijuana within the last month. We select 4744 participants and ask them each to first privately draw a card from a standard 52-card deck.* If they get a “club” they are asked to respond truthfully to the question “Have you used marijuana within the last month?”* If they get any other suit they are asked to respond to the question “Does your phone number end in an odd digit?” The study is blinded in the sense that the researcher doesn’t know which…
Virtually any process can be improved by use of statistics, including the law. A much publicized case that involved a debate about probability was the Collins case, which began in 1964. An incident of purse snatching in the Los Angeles area led to the arrest of Michael and Janet Collins. At their trial, an "expert" presented the probabilities listed in table below on characteristics possessed by a couple seen running from the crime scene: Characteristics Probability Man with beard 1/10 Blond woman 1/4 1/10 Yellow car Woman with ponytail Man with moustache Interracial couple 1/10 1/3 1/1000 The chance that a couple had all these characteristics together is 1 in 12 million. Because the Collinses had these characteristics, the Collinses must be guilty. Do yo see any problem with this line of reasoning? Hint: The question of interest is not "what is the probability of finding a couple with these characteristics?" because one such couple has been found (the Collinses), the question is "what…

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