Answer:
The probability that the cost is kept within budget or the campaign will increase sales is 0.88
Step-by-step explanation:
The probability that the cost is kept within budget (event A) <u>or</u> the campaign will increase sales (event B) is the <u>union</u> of the probability of those two events. By basic properties of probability, this is:
P(A ∪ B) = P(A) + P (B) - P(A ∩ B)
and for independent events:
P(A ∩ B) = P(A) * P(B)
So:
P(A ∪ B) = 0.80 + 0.40 - (0.80*0.40) = 1.20 - 0.32 = 0.88
I believe the second one : drawing a number from a hat, not replacing it, and then drawing a second number
Answer:
24 dollars per liter
Step-by-step explanation:
Take the number of dollars and divide by the number of liters
60 dollars / 2.5 liters
24 dollars per liter
Answer:
And we can find this probability using the complement rule and with the normal standard table or excel:
Step-by-step explanation:
Previous concepts
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Solution to the problem
Let X the random variable that represent the average household spent of a population, and for this case we know the distribution for X is given by:
Where and
We are interested on this probability
And the best way to solve this problem is using the normal standard distribution and the z score given by:
If we apply this formula to our probability we got this:
And we can find this probability using the complement rule and with the normal standard table or excel: