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Chapter review

A tree diagram use branches to show the different outcomes of experiments and makes complex probability questions easy to visualize.

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. A Venn diagram is especially helpful for visualizing the OR event, the AND event, and the complement of an event and for understanding conditional probabilities.

The probability that a man develops some form of cancer in his lifetime is 0.4567. The probability that a man has at least one false positive test result (meaning the test comes back for cancer when the man does not have it) is 0.51. Let: C = a man develops cancer in his lifetime; P = man has at least one false positive. Construct a tree diagram of the situation.

This is a tree diagram with two branches. The first branch, labeled Cancer, shows two lines: 0.4567 C and 0.5433 C'. The second branch is labeled False Positive. From C, there are two lines: 0 P and 1 P'. From C', there are two lines: 0.51 P and 0.49 P'.
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Bringing it together

Use the following information to answer the next two exercises. Suppose that you have eight cards. Five are green and three are yellow. The cards are well shuffled.

Suppose that you randomly draw two cards, one at a time, with replacement .
Let G 1 = first card is green
Let G 2 = second card is green

  1. Draw a tree diagram of the situation.
  2. Find P ( G 1 AND G 2 ).
  3. Find P (at least one green).
  4. Find P ( G 2 | G 1 ).
  5. Are G 2 and G 1 independent events? Explain why or why not.
  1. This is a tree diagram with branches showing probabilities of each draw. The first branch shows two lines: 5/8 Green and 3/8 Yellow. The second branch has a set of two lines (5/8 Green and 3/8 Yellow) for each line of the first branch.
  2. P ( GG ) = ( 5 8 ) ( 5 8 ) = 25 64
  3. P (at least one green) = P ( GG ) + P ( GY ) + P ( YG ) = 25 64 + 15 64 + 15 64 = 55 64
  4. P ( G | G ) = 5 8
  5. Yes, they are independent because the first card is placed back in the bag before the second card is drawn; the composition of cards in the bag remains the same from draw one to draw two.
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Suppose that you randomly draw two cards, one at a time, without replacement .
G 1 = first card is green
G 2 = second card is green

  1. Draw a tree diagram of the situation.
  2. Find P ( G 1 AND G 2 ).
  3. Find P (at least one green).
  4. Find P ( G 2 | G 1 ).
  5. Are G 2 and G 1 independent events? Explain why or why not.
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Use the following information to answer the next two exercises. The percent of licensed U.S. drivers (from a recent year) that are female is 48.60. Of the females, 5.03% are age 19 and under; 81.36% are age 20–64; 13.61% are age 65 or over. Of the licensed U.S. male drivers, 5.04% are age 19 and under; 81.43% are age 20–64; 13.53% are age 65 or over.

Complete the following.

  1. Construct a table or a tree diagram of the situation.
  2. Find P (driver is female).
  3. Find P (driver is age 65 or over|driver is female).
  4. Find P (driver is age 65 or over AND female).
  5. In words, explain the difference between the probabilities in part c and part d.
  6. Find P (driver is age 65 or over).
  7. Are being age 65 or over and being female mutually exclusive events? How do you know?
  1. <20 20–64 >64 Totals
    Female 0.0244 0.3954 0.0661 0.486
    Male 0.0259 0.4186 0.0695 0.514
    Totals 0.0503 0.8140 0.1356 1
  2. P ( F ) = 0.486
  3. P (>64| F ) = 0.1361
  4. P (>64 and F ) = P ( F ) P (>64| F ) = (0.486)(0.1361) = 0.0661
  5. P (>64| F ) is the percentage of female drivers who are 65 or older and P (>64 and F ) is the percentage of drivers who are female and 65 or older.
  6. P (> 64 ) = P (>64 and F ) + P (>64 and M ) = 0.1356
  7. No, being female and 65 or older are not mutually exclusive because they can occur at the same time P(>64 and F ) = 0.0661.
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Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
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WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
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
What is ceteris paribus?
Shukri Reply
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
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Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
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
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Shukri
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Lilia Reply
what is the difference between economic growth and development
Fiker Reply
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 ?
Abdisa Reply
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Awais Reply
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
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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 .
Feyisa Reply
Answer
Feyisa
c
Jabir
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
Gsbwnw Reply
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
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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