-
Home
- Collaborative statistics
- Probability topics
- Venn diagrams (optional)
This module introduces Venn diagrams as a method for solving some probability problems. This module is included in the Elementary Statistics textbook/collection as an optional lesson.
A
Venn diagram is a picture that represents the outcomes of an experiment. It generally consists of a box that represents the sample space S together with circles or ovals. The circles or ovals represent events.
Suppose an experiment has the outcomes 1, 2, 3, ... , 12 where each outcome has an equal chance of occurring. Let event
and event
. Then
and
. The Venn diagram is as follows:
Got questions? Get instant answers now!
Flip 2 fair coins. Let
= tails on the first coin. Let
= tails on the second coin. Then
and
.
Therefore,
.
.
The sample space when you flip two fair coins is
. The outcome
is in neither
nor
. The Venn diagram is as follows:
Got questions? Get instant answers now!
Forty percent of the students at a local college belong to a club and
50% work part time.
Five percent of the students work part time and belong to a club. Draw a Venn diagram showing the relationships. Let
= student belongs to a club and
= student works part time.
If a student is selected at random find
Got questions? Get instant answers now!
Questions & Answers
What are the factors that affect demand for a commodity
differentiate between demand and supply
giving examples
differentiated between demand and supply using examples
Lambiv
how is the graph works?I don't fully understand
hi guys good evening to all
Lambiv
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline.
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 •
Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
Can I ask you other question?
Shukri
What is different between quantity demand and demand?
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
how do you save a country economic situation when it's falling apart
what is the difference between economic growth and development
Economic growth as an increase in the production and consumption of goods and services within an economy.but
Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
any question about economics?
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has
The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50.
A,Calculate quantities of x and y which maximize utility.
B,Calculate value of Lagrange multiplier.
C,Calculate quantities of X and Y consumed with a given price.
D,alculate optimum level of output .
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
Got questions? Join the online conversation and get instant answers!
Source:
OpenStax, Collaborative statistics. OpenStax CNX. Jul 03, 2012 Download for free at http://cnx.org/content/col10522/1.40
Google Play and the Google Play logo are trademarks of Google Inc.