A survey of 500 students showed that 55% of the students are taking Economics

| August 30, 2017

Question
1. A survey of 500 students showed that 55% of the students are taking Economics, 45% are taking Statistics, and 25% are taking both. If one student is selected randomly from the group, what is the probability that the selected student is taking neither one of the two subjects?

A) 0.00
B) 0.10
C) 0.35
D) 0.25
E) 0.75

2. Below is a table of probabilities representing a sample survey of 1000 adults and their opinions on whether college education was too expensive or not. They were also classified on whether they had a child in college or not.

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Too expensive Not too expensive Total
Child in college 0.35 0.09 0.44
No child in college 0.25 0.31 0.56
Toal 0.60 0.40 1
What is the probability that a respondent has a child in college or thinks that college education is too expensive?

A) 0.60
B) 0.35
C) 0.69
D) 0.44
E) 0.56

3. There are three bakers at a certain bakery. Ann bakes 20% of the cookies, Bob bakes 30% of the cookies and Cat bakes the rest. Ann burns 2% of the cookies she bakes, Bob burns 4% of the cookies he bakes and Cat burns 5% of the cookies she bakes. Given that a cookie is burned, what is the probability that it was baked by Bob?

A) 0.229
B) 0.293
C) 0.040
D) 0.343
E) 0.012

4. Payoff, X $0 $5

Probability 0.8 0.2

The payoff (X) for a lottery game has the probability distribution shown above. What is the variance of the payoff?

A) $2.00
B) $0.50
C) $1.00
D) $2.50
E) $4.00

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A survey of 500 students showed that 55% of the students are taking Economics
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Posted On: 10/26/2015 10:22 AM
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