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Even though a certain statistics professor does not require attendance as part of a student’s overall grade, she has noticed that those who regularly attend class have a higher tendency to get a final grade of A. The professor calculates that there is an 80% chance that a student attends class regularly. Moreover, given that a student attends class regularly, there is a 35% chance that the student receives an A grade; however, if a student does not attend class regularly, there is only a 5% chance of an A grade. Use this information to answer the following questions. a) What is the probability that a student does not attend class regularly? b) What is the probability that a student attends class regularly and receives an A grade? c) What is the probability that a student does not attend class regularly and receives an A grade? d) What is the probability that a student receives an A grade?
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Statistics
DEFINE BAYES’ THEOREM?
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Statistics
WHAT IS EXTENSIONS OF THE TOTAL PROBABILITY RULE AND BAYES’ THEOREM?
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Statistics
Scott Myers is a security analyst for a telecommunications firm called Webtalk. Although he is optimistic about the firm’s future, he is concerned that its stock price will be considerably affected by the condition of credit flow in the economy. He believes that the probability is 0.20 that credit flow will improve significantly, 0.50 that it will improve only marginally, and 0.30 that it will not improve at all. He also estimates that the probability that the stock price of Webtalk will go up is 0.90 with significant improvement in credit flow in the economy, 0.40 with marginal improvement in credit flow in the economy, and 0.10 with no improvement in credit flow in the economy. Based on Scott’s estimates, what is the probability that the stock price of Web talk goes up? If we know that the stock price of Webtalk has gone up, what is the probability that credit flow in the economy has improved significantly?
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Statistics
Describe fundamental probability concepts?
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Statistics
DEFINE DISCRETE VERSUS CONTINUOUS RANDOM VARIABLES?
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Statistics
Let’s use the data in Table 3.1 in the introductory case to calculate and interpret the mean return for the Growth mutual fund and the mean return for the Value mutual fund.
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Statistics
Seven people work at Acetech, a small technology firm in Seattle. Their salaries (in $) over the past year are listed in Table. Compute the mean salary for this firm and discuss whether it accurately indicates a typical value.
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Statistics
