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L15.2082 - Statistics for Business and Economics (2024/2025)
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The following two-way contingency table gives the breakdown of the population of patrons at a grocery store according to the number of items purchased and whether or not the patron made an impulse purchase at the checkout counter. F and M are:
| Impulse purchase | ||
| # of items | Made (M) | Not made (M') |
| Few (F) | 0.05 | 0.20 |
| Many (F') | 0.15 | 0.60 |
Let , , and . Which of the following is true?
Suppose you draw a card from a well-shuffled deck (recall that there are 52 cards and 4 suits, each with 13 cards). Event A occurs if it is a black card. Event B occurs if it is an Ace.
Which of the following is true?
Imagine you are organizing a community fair with various activities. The probability of having a food stall at the fair is 0.3 and the probability of having a live music performance is 0.6. Having a food stall at the fair and having a live music performance are independent events.
What is the probability of not having a food stall and not having live music at the fair.
A conditional probability:
Two mutually exclusive events:
If events A and B are mutually exclusive, then: