The probability that a university graduate will be offered no jobs within a month of graduation is estimated to be 10%. The probability of receiving one, two, and three job offers has similarly been estimated to be 37%, 34%, and 19%, respectively. Determine the following probabilities: A. P(A graduate is offered fewer than two jobs)= B. P(A graduate is offered more than one job) =

The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $180,000 with a probability of 0.7 or a profit of $130,000 with a probability of 0.3; the second project will yield a profit of $220,000 with a probability of 0.7 or a profit of $80,000 with a probability of 0.3.Find the expected profit for each project.  first project $  second project      $

A rice importer has three sources: Thailand, Vietnam, and China. Unfortunately, the annual amount of rice harvested is heavily dependent upon the amount of rainfall during the growing season. The tables below show probabilities and prices for wet, dry, and normal growing seasons. Rice is sold in tons.   PROBABILITIES Wet Dry Normal Thailand 0.5 0.2 0.3 Vietnam 0.6 0.3 0.1 China 0.4 0.4 0.2     Price per Pound ($) Wet Dry Normal Thailand 0.95 1.10 1.00 Vietnam 0.85 1.20 0.98 China 0.90 1.15 1.05 Which country offers the best rice price?

You purchase a brand new car for $15,000 and insure it. The policy pays 78% of the car's value if there is an issue with the engine or 30% of the car's value if there is an issue with the speaker system. The probability of an issue with the engine is 0.009, and the probability there is an issue with the speaker system is 0.02. The premium for the policy is p. Let X be the insurance company's net gain from this policy. (a) Create a probability distribution for X, using p to represent the premium on the policy. Enter the possible values of X in ascending order from left to right. P(X) (b) Compute the minimum amount the insurance company will charge for this policy. Round your answer to the nearest cent

The proprietor of Midland Construction Company has to decide between two projects. He estimates that the first project will yield a profit of $160,000 with a probability of 0.7 or a profit of $120,000 with a probability of 0.3; the second project will yield a profit of $220,000 with a probability of 0.6 or a profit of $70,000 with a probability of 0.4.Find the expected profit for each project. first project $ second project      $ Which project should the proprietor choose if he wants to maximize his expected profit? first project second project

Brian, a landscape architect, submitted a bid on each of three home landscaping projects. He estimates that the probabilities of winning the bid on Project A, Project B, and Project C are 0.7, 0.5, and 0.2, respectively. Assume that the probability of winning a bid on one of the three projects is independent of winning or losing the bids on the other two projects. Find the probability that Brian will experience the following. (a) Win all three of the bids (b) Win exactly two of the bids (c) Win exactly one bid

Friskie is having her fifth litter. The prior litters have either been three normal pups or two normal pups and a runt. Assume the probability of either outcome is 50%.

A gas station has three grades of fuel, regular, premium and diesel. Due to problems with the supply chain, the probabilities that the station will run out of any three fuel types in a week are 0.10, 0.16 and 0.24, respectively. These probabilities are statistically independent. Also, if there is a shortage of diesel, the probability of a shortage of premium becomes 0.25. 1. How likely is the station to run out of all three fuels in a given week? 2. What is the probability that if regular runs out, both premium and diesel will also run out? 3. What is the probability that the station will run out of at least one of either premium and diesel? 4. What is the probability that the station will run out of at least 2 of the fuels in a week?

In government data, a family consists of two or more persons who live together and are related by blood or marriage. Choose an American family at random and count the number of people it contains. Here is the assignment of probabilities for your outcome:Number of persons    2       3      4       5       6       7+Probability          0.42    0.23    0.21    0.09    0.03    0.02What is the probability that the family you choose has more than two people?

A company receives 30% of its shipments from source A and the rest from source B. For source A, the defective rate is 10% and for source B, the defective rate is 6%. The company just receives a shipment which contains 10 items.Determine the probability that there will be one defective item.