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Author Question: Assume you have applied for two scholarships, a Merit scholarship (M) and an Athletic scholarship ... (Read 122 times)

audie

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on: Jun 24, 2018
Assume you have applied for two scholarships, a Merit scholarship (M) and an Athletic scholarship (A). The probability that you receive an Athletic scholarship is 0.18 . The probability of receiving both scholarships is 0.11 . The probability of getting at least one of the scholarships is 0.3.
 a. What is the probability that you will receive a Merit scholarship?
  b. Are events A and M mutually exclusive? Why or why not? Explain.
  c. Are the two events A and M independent? Explain using probabilities.
  d. What is the probability of receiving the Athletic scholarship given that you have been awarded the Merit scholarship?
  e. What is the probability of receiving the Merit scholarship given that you have been awarded the Athletic scholarship?

Question 2

Which of the following applications modeled in the textbook is an example of a fixed cost problem?
 a. supply chain design
 b. bank location
 c. capital budgeting
 d. product design and market share optimization


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InfiniteSteez

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Reply #1 on: Jun 24, 2018
Answer to Question 1

a. 0.23
b. No, because P(A  M)  0
c. No, because P(A  M)  P(A) P(M)
d. 0.4783
e. 0.6111

Answer to Question 2

a


audie

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Reply 2 on: Jun 24, 2018
YES! Correct, THANKS for helping me on my review

FergA

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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