MGT 5006 Week 1 Discussion 1 | Assignment Help | Florida Institute Of Technology
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MGT 5006 Week 1 Discussion 1 | Assignment Help | Florida Institute Of Technology
Chapter Four Discussion Board
Listed next are twenty-five probability
type questions. (The same ones listed in the module) Pick one question.
Post on the discussion board the solution to that question, including the
process. Then pick one post from a classmate and discuss the solution
they have posted. Your response, to a classmates’ work, might state that
you agree or disagree with the post and why you think so. Or you
can add to the solution, that was posted, some kind of visual aid. Be creative!
Keep in mind, once a solutaion is posted for a particular
question, then that question cannot be answered again. You must choose another
question to answer. When posting, be sure to clearly identify the
question number you are answering.
Please let me know if you have any questions. Please
submit your solution online on the discussion board labeled Chapter Four.
Questions:
1. The Naval Research Lab in Washington
DC surveyed the research scientists. They were asked if their work was
(completely funded by government agencies or funded by outside organizations)
and then the number of months in which the proposal was funded, (less than 24
months or more then 24 months).
Of the 75 research scientists, 62 were funded by government agencies, 43 were
funded for less than 24 months and 55 were funded for less than 24 months and
also funded by government agencies. What is the probability that a scientist is
funded for less than 24 months and the funding is completely coming from a
government agency?
2. The Naval Research Lab in Washington DC surveyed the research
scientists. They were asked if their work was (completely funded by government
agencies or funded by outside organizations) and then the number of months in
which the proposal was funded, (less than 24 months or more then 24 months).
Of the 75 research scientists, 62 were funded by government
agencies, 43 were funded for less than 24 months and 55 were funded for less
than 24 months and funded by government agencies. What is the probability that
a scientist is funded by government agencies or is funded for more than 24
months?
3. In order to begin training at a Federal Law Enforcement
Agency, all recruits must take, and pass, an Entry Level Criminal Justice
Comprehension Exam. Some colleges prepare their students better than others.
The latest entry exam included 60% of the potential recruits from the
University of Maryland; 30% from the College of Southern Maryland; and the
remaining 10% from St. Mary’s College. The results of the exam found that 60%
of the potential recruits from the University of Maryland passed the exam, 70%
from the College of Southern Maryland passed the exam and 90% of the potential
recruits from St. Mary’s College passed. What is the probability that a
randomly selected potential recruit is someone from the College of Southern
Maryland who has not passed the exam?
4. Chick-fil-A and Popeyes both serve delicious chicken
sandwiches. A survey of 250 customers, who have eaten both of the restaurants’
sandwiches, was taken. Of the respondents, 137 were men and 112 were women. 150
preferred Chick-fil-A and 100 preferred Popeyes. 55 of the women surveyed
preferred Chick-fil-A. What is the probability that a randomly selected
individual is a woman who preferred Popeyes?
5. Home ownership is a goal for many Americans. According to a
survey of households in the District of Columbia, the probability that the
resident owned two homes, one inside the Beltway and one outside the city
or weekend usage, if their annual household income is over $175,000, is 85%. Of
the households surveyed, 56% had incomes over $175,000 and 70% had two homes.
What is the probability that residents do not own two homes and have an income
over $175,000 a year?
6. Home ownership is a goal for many Americans. According to a
survey of households in the District of Columbia, the probability that the
resident owned two homes, one inside the Beltway and one outside the city for
weekend usage, if their annual household income is over $175,000, is 85%. Of
the households surveyed, 56% had incomes over $175,000 and 70% had two homes.
What is the probability that residents own two homes and have an income less
than or equal to $175,000 a year?
7. Investment in real estate could provide an estimated increase
in our portfolios, in the next two months, of approximately 25% due to the
changing economy. This will lead to an estimated increase in interest rates, in
the same period, of approximately 74%. The probability that our portfolio
increase or interest rates increase in the next two months is estimated to be
approximately 89%. What is the probability that our portfolio will increase but
interest rates will not increase in the next two months?
Choose only one “letter” from question
#8 to complete. Be sure to list it as completing 8a; or 8b; or 8c; or 8d; etc.
8.
Information for question eight:
A survey of a group of potential first-time automobile purchasers found that
the percentage of consumers, in the three age ranges, from early 20s, mid to
late 20s, and early 30s, who said that they planned to spend more money to buy
a large luxury brand car as compared to a smaller standard car were 40%, 34%
and 73% respectively.
This survey also found that the percentage of buyers from the
age ranges of early 20s, mid to late 20s, and early 30s, who said that they
were willing to consider purchasing a second-hand or used luxury vehicle, was
55%, 46% and 72%, respectively.
Assume that the survey results are statistically independent of
whether a purchaser plans to spend more and is willing to buy a used vehicle.
There were equal portions of each of the age groups surveyed and the results
are representative of the three populations.
8a. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 30s or mid to late 20s who
does not plan to spend more on purchasing a large luxury car as compared to a
small standard car and is not willing to buy a used vehicle?
8b. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 20s or mid to late 20s who
does not plan to spend more on a large luxury vehicle and is not interested in
buying a used vehicle?
8c. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 20s or early 30s who does not
plan to spend more on a large luxury vehicle and is not interested in buying a
used vehicle?
8d. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 30s who does not plan to spend
more on a large luxury vehicle and is not interested in buying a used vehicle?
8e. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their mid to late 20s who does not plan to
spend more on a large luxury vehicle and is not interested in buying a used
vehicle?
8f. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 20s who does not plan to spend
more on a large luxury vehicle and is not interested in buying a used vehicle?
8g. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 30s or mid to late 20s who
does plan to spend more on a large luxury vehicle and is interested in buying a
used vehicle?
8h. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 20s or mid to late 20s who
does plan to spend more on a large luxury vehicle and is interested in buying a
used vehicle?
8i. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 20s or early 30s who does plan
to spend more on a large luxury vehicle and is interested in buying a used
vehicle?
8j. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their early 30s who does plan to spend more
on a large luxury vehicle and is interested in buying a used vehicle?
8k. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser is in their mid to late 20s who does plan to
spend more on a large luxury vehicle and is interested in buying a used
vehicle?
8l. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the probability
that the purchaser is in their early 20s who does plan to spend more on a large
luxury vehicle and is interested in buying a used vehicle?
8m. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser does not plan to spend more on a large luxury
vehicle and is not interested in buying a used vehicle?
8n. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser plans to spend more on a large luxury vehicle
and is not interested in buying a used vehicle?
8o. Referring to the information given for this question, if you
randomly select a purchaser from any of the three age groups, what is the
probability that the purchaser does not plan to spend more on a large luxury
vehicle and is interested in buying a used vehicle?
Throw Back Questions
9. Using the textbook data set CardioGood Fitness, as described
on p. 81, compute descriptive statistics for the data on the treadmill listed:
TM195. Include for each: Mean, Median, Mode, Range, Variance, Standard
Deviation, Coefficient of Variation, Interquartile Range, Outlier, Kurtosis,
Skewness Shape
10. Using the textbook data set CardioGood Fitness, as described
on p. 81, compute descriptive statistics for the data on the treadmill listed:
TM498. Include for each: Mean, Median, Mode, Range, Variance, Standard
Deviation, Coefficient of Variation, Interquartile Range, Outlier, Kurtosis,
Skewness Shape
11. Using the textbook data set
CardioGood Fitness, as described on p. 81, compute descriptive statistics for
the data on the treadmill listed: TM798. Include for each: Mean, Median, Mode,
Range, Variance, Standard Deviation, Coefficient of Variation, Interquartile
Range, Outlier, Kurtosis, Skewness Shape.