Q. 2 A car dealer notes the following probabilities about his customers: P(those who buy a new car) = 0.25 P(those who buy a European car) = 0.30 P(those who neither buy a new car nor an Europeantcar) = 0.53 %3D %3D %3D Find the probability that next customer buys a new European car?

Q. 2 A car dealer notes the following probabilities about his customers: P(those who buy a new car) = 0.25 P(those who buy a European car) = 0.30 P(those who neither buy a new car nor an Europeantcar) = 0.53 %3D %3D %3D Find the probability that next customer buys a new European car?

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Description: Q. 2 A car dealer notes the following probabilities about his customers:P(those who buy a new car) = 0.25P(those who buy a European car) = 0.30P(those who neither buy a new car nor an Europeankcar) = 0.53%3DFind the probability that next customer bu

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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Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

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Q. 2 A car dealer notes the following probabilities about his customers:
P(those who buy a new car) = 0.25
P(those who buy a European car) = 0.30
P(those who neither buy a new car nor an Europeankcar) = 0.53
%3D
Find the probability that next customer buys a new European car?

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Q. 2 A car dealer notes the following probabilities about his customers: P(those who buy a new car ) = 0.25 P(those who buy a European car) = 0.30 P(those who neither buy a new car nor an European car ) = 0.58 Find the probability that next customer buys a new European car?
D An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil) = 0.40 P(medium-quality oil) = 0.25 P(no oil) = 0.35 a. What is the probability of finding oil (to 2 decimals)? b. After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular type of soil identified by the test are given below. P(soil|high-quality oil) = 0.25 P(soil|medium-quality oil) = 0.90 P(soil|no oil) = 0.25 %3D Given the soil found in the test, use Bayes' theorem to compute the following revised probabilities (to 4 decimals). P(high-quality oil|soil) P(medium-quality oil soil) P(no oil soil) What is the new probability of finding oil (to 4 decimals)? According to the revised probabilities, what is the quality of oil that is most likely to be found? - Select your answer -
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