1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
monitta
3 years ago
14

For customers purchasing a refrigerator at a certain appliancestore, let A be the event that the refrigerator wasmanufactured in

the U.S., B be the event that therefrigerator had an icemaker, and C be the event that thecustomer purchased an extended warranty. Relevant probabilities arebelow.
(a) Construct a tree diagram consisting of first-, second-, andthird-generation branches and place an event label and appropriateprobability next to each branch.

(b) Compute P(A intersectB intersectC).

(c) Compute P(B intersectC).
2

(d) Compute P(C).
3

(e) Compute P(A | B intersectC), theprobability of a U.S. purchase given that an icemaker and extendedwarranty are also purchased.


P(A) = 0.73 P(B | A) = 0.90 P(B | A' ) =0.76
P(C | A intersectB) =0.84 P(C | A intersectB' ) =0.65
P(C | A' intersectB) =0.71 P(C | A' intersectB' ) =0.32

Business
1 answer:
V125BC [204]3 years ago
6 0

Answer:

Part a : The tree diagram is attached with the solution.

Part b: The probability of P(A∩B∩C) is 0.5519.

Part c: The probability of P(B∩C) is 0.6976.

Part d: The probability of P(C) is 0.7658.​

Part e: The probability of P(A∣B∩C) is 0.7658.​

Explanation:

The solution is as follows.

Data Given is as

P(A) = 0.73

P(B | A) = 0.90

P(B | A' ) =0.76

P(C | A∩B) =0.84

P(C | A∩B' ) =0.65

P(C | A' ∩B) =0.71

P(C | A' ∩B' ) =0.32

Part a:

The remaining values of Probabilities for the tree formation are calculated as follows

P(A')=1-P(A)=1-0.73=0.27

P(B'|A)=1-P(B|A)=1-0.90=0.10

P(B' | A' )=1-P(B | A' ) =1-0.76=0.24

P(C' | A∩B) =1-P(C | A∩B)=1-0.84=0.16

P(C' | A∩B' ) =1-P(C | A∩B' ) =1-0.65=0.35

P(C' | A' ∩B) =1-P(C | A' ∩B) =1-0.71=0.29

P(C' | A' ∩B' ) =1-P(C | A' ∩B' )=1-0.32=0.68

so the probability tree is given as attached in the diagram.

Part b:

P(A∩B∩C)=P(A)P(B∣A)P(C∣A∩B)

From the above data in part a

P(A)=0.73, P(B|A)=0.90 and P(C∣A∩B)=0.84

                =0.73×0.90×0.84

               =0.55188

               ≈0.5519

The probability of P(A∩B∩C) is 0.5519.

Part c

P(B∩C)=P(A∩B∩C)+P(A'∩B∩C)

           = [P(A)P(B∣A)P(C∣A∩B)+{1−P(A)}P(B∣A′)P(C∣A′∩B)]

From the above data

P(A)=0.73,P(B∣A)=0.9,P(C∣A∩B)=0.84,P(B∣A′)=0.76 and P(C∣A′∩B)=0.71

P(B∩C)= [P(A)P(B∣A)P(C∣A∩B)+{1−P(A)}P(B∣A′)P(C∣A′∩B)]

           =(0.73×0.9×0.84)+(1−0.73)×0.76×0.71

           =0.55188+0.145692

           =0.697572

           ≈0.6976

The probability of P(B∩C) is 0.6976.

Part d

P(C)=P(A∩B∩C)+P(A′∩B∩C)+P(A∩B ′∩C)+P(A′∩B ′∩C)

      =P(A)P(B∣A)P(C∣A∩B)+[1−P(A)]P(B∣A′)P(C∣A′∩B)+P(A)[1−P(B∣A)]P(C∣A∩B′)+            

        [1−P(A)][1−P(B∣A′)]P(C∣A′∩B′)

Here from above data

P(A)=0.73,P(B∣A)=0.9,P(C∣A∩B)=0.84,P(B∣A′)=0.76,P(C∣A∩B′)=0.65,P(C∣A′∩B′)=0.32 and P(C∣A′∩B)=0.71

P(C)=P(A)P(B∣A)P(C∣A∩B)+[1−P(A)]P(B∣A′)P(C∣A′∩B)+P(A)[1−P(B∣A)]P(C∣A∩B′)+            

        [1−P(A)][1−P(B∣A′)]P(C∣A′∩B′)

     ={0.7x0.9x0.84}+{(1-0.73)x0.76×0.71}+{0.73x(1-0.9)x0.32}+{(1-0.73)x(1-          

       0.76)x0.32}

     =0.55188+0.145692+0.04745+0.020736

     =0.765758

     ≈0.7658

The probability of P(C) is 0.7658.​

Part e

From part (b),P(A∩B∩C)=0.55188

From part (c), P(B∩C)=0.697572

<em>By  conditional probability rule, </em>

P(A∣B∩C)= P(A∩B∩C)/P(B∩C)

​        = 0.55188/0.697572

              =0.791144

             ≈0.7911

The probability of P(A∣B∩C) is 0.7658.​

​

​

​

You might be interested in
Choose the statement that is incorrect. A. Search activity occurs only in markets where there is a shortage. B. The time spent l
Rufina [12.5K]

Answer:D

Explanation:because it seems like it

3 0
3 years ago
"A customer who has his primary residence in Colorado, has a vacation home in Montana. An intrastate offering is being made in t
harina [27]

Answer:

the customer is prohibited from buying these securities

Explanation:

In the situation being described the statement that would be true is that the customer is prohibited from buying these securities. This is because intrastate offerings are security offerings that can only be purchased in the state in which it is being offered in and only by permanent residents of that state. Seeing since the customer in this scenario has his permanent residence in Colorado and not Montana, then he cannot purchase this offering.

6 0
3 years ago
You own a portfolio that has a total value of $215,000 and it is invested in Stock D with a beta of .86 and Stock E with a beta
babunello [35]

Answer:  BP = BD(WD) + BE(WE)

                   1 = 0.86(1-WE) + 1.39WE

                   1 = 0.86-0.86WE + 1.39WE

                   1 = 0.86 + 0.53WE

                 -0.53WE = -0.14

                  0.53WE  = 0.14

                         WE   = 0.14/0.53

                         WE   = 0.2641509434

                         WD = 1 - WE

                         WD = 1 - 0.2641509434

                         WD = 0.7358490566

The dollar amount of investment in stock D = 0.7358490566 x $215,000

                                                                         = $158,207.54

Explanation: The beta of the portfolio is 1, which corresponds to the beta of the market. The beta of the portfolio equals beta of each stock multiplied by the percentage of fund invested in each stock(weight). The weight of stock D is equal to 1 - weight of stock E. Therefore, we need to make weight of stock E the subject of the formula by solving the problem mathematically and collecting the like terms. The weight of stock E is 0.2641509434. The weight of stock E will be subtracted from 1 so as to obtain the weight of stock D, which is 0.7358490566. The dollar amount of stock D equal to $215,000 multiplied by 0.7358490566, which is $158,207.54.

4 0
2 years ago
Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost
Ghella [55]

Answer:

See below

Explanation:

1. Predetermined overhead rates

= Applied overhead / Direct labor

Job 114

Applied overhead / direct labor

= $1,260/1,800

= 70%

Job 115

Applied overhead / direct labor

= $994/1,420

= 70%

Job 116

Applied overhead / direct labor

= $3,094/4,420

= 70%

2 and 3 Ending balance of each job and work in process as of April 30th.

Job 114. Job116

Opening. $2,384. $3,085

Materials

Purchases $16,800. $5,410

Direct labor

($1,800+$1,800) $3,600. $5,740

Actual $2,520 $4,018

Overhead

at 59.36%

Balance $25,304. $18,253

• Note

The whole of job 115 has been sold out.

• Actual overhead = Actual overhead / direct labor

= $4,535/7,640

= 59.36%

4 Cost of goods sold in April

Job 115

Opening materials. $2,603

Purchases. $12,460

Direct labor

($1,420 + $3,080). $4,500

Actual overhead. $3,150

at 59.36%

Cost of goods sold $22,713

5. Selling price of job

Cost of job 115 = $22,713

Selling price = 1.25% × $22,713 = $28,391

4 0
2 years ago
The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory,
34kurt

Answer:

$252,000

Explanation:

Calculation for the cost of goods sold for the Askew Company for the year ending June 30, 2021.

First step is to calculate the Net Purchase

Purchases 259,000

Less Purchase discounts (7,900)

Less Purchase returns (11,900)

Add Freight-in 20,800

Net purchase 260,000

Now let calculate the cost of goods sold

Inventory, 7/1/2020 33,900

Add 260,000

Less inventory balance ($41,900)

Cost of goods sold $252,000

Therefore the cost of goods sold for the Askew Company for the year ending June 30, 2021 will be $252,000

5 0
3 years ago
Other questions:
  • Polly sells goods to customers in exchange for a $10,000 noninterest-bearing note due in 3 years. The interest rate on this type
    10·1 answer
  • The Republic of Monaslu has the world's most efficient car manufacturing industry, while the country of Ingora has the world's m
    14·1 answer
  • Which of the following statements about the consideration set is false? Group of answer choices
    6·1 answer
  • The main reason that firms outsource is that: low-wage workers in other countries are more productive than are u.s. workers. hir
    9·1 answer
  • US taxpayers who attended college or university in the past year can deduct the interest paid on student loans from their taxabl
    15·1 answer
  • Which of these is an advantage of checking accounts?
    6·2 answers
  • Sorry to bother but i need someone to talk to me if your older than 15 don't bother to message thank,you❤
    9·1 answer
  • Identifying and Analyzing Financial Statement Effects of Stock Transactions
    9·1 answer
  • Peter is the owner of a fast-food franchise. When his payroll accountant quit, he hired his wife, Karen, to take over the payrol
    5·1 answer
  • Identify a type of market failure. Provide an example of that type of market failure and briefly explain one way that the govern
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!