Based on the information in Exercise 5.21, if the advisor has at least one person sign up for the advanced class, what is the probability that at least three people have signed up?
In exercise
A financial advisor frequently holds investment counseling workshops for persons who have responded to his direct mailings. The typical workshop has 10 attendees. In the past, the advisor has found that in 35% of the workshops, nobody signs up for the advanced class that is offered; in 30% of the workshops, one person signs up; in 25% of the workshops, two people sign up; and in 10% of the workshops, three or more people sign up. The advisor is holding a workshop tomorrow. What is the probability that at least two people will sign up for the advanced class? What is the probability that no more than one person will sign up? Draw a Venn diagram that includes the possible events and their relative frequencies for this situation.

  • CreatedSeptember 08, 2015
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