Each of 2 balls is painted either black or gold and then placed in an urn. Suppose
Question:
(a) Suppose that you obtain information that the gold paint has been used (and thus at least one of the balls is painted gold). Compute the conditional probability that both balls are painted gold.
(b) Suppose now that the urn tips over and 1 ball falls out. It is painted gold. What is the probability that both balls are gold in this case? Explain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
a Pg g at least one g ...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Question Posted:
Students also viewed these Statistics questions
-
Nine squares, each one either black or white, are arranged in a 3 X 3 grid. Figure 2.24 shows one possible Figure 2.24 The nine squares puzzle Arrangement. When touched, each square changes its own...
-
A lottery exists where balls numbered 1 to 25 are placed in an urn. To win, you must match the four balls chosen in the correct order. How many possible outcomes are there for this game?
-
The National Basketball Association (NBA) draft lottery involves the 11 teams that had the worst wonlost records during the year. A total of 66 balls are placed in an urn. Each of these balls is...
-
For each of the statements, state the null and alternative hypotheses The average age of taxi drivers in New York City is 36.3years. The average IQ of disc jockeys is greater than 117.3. The average...
-
Using the frequency distribution in Exercise 2.5, identify the following for the 15under 25 class: (a) Frequency, (b) Upper and lower limits, (c) Width, and (d) Midpoint.
-
A Ferris wheel with radius 14.0 m is turning about a horizontal axis through its center (Fig. 3.42). The linear speed of a passenger on the rim is constant and equal to 7.00 m/s. What are the...
-
A perpetual option is one that never expires. (Such an option must be of American style.) Use Exercise 6 to show that the value of a perpetual call on a non-dividend-paying stock is \(C=S\). Data...
-
The following selected transactions were completed during February of the current year: 1. Billed customers for fees earned, $41,730. 2. Purchased supplies on account, $1,800. 3. Received cash from...
-
Weather Suppose that it snows in Greenland an average of once every 26 days, and when it does, glaciers have a 23% chance of growing. When it does not snow in Greenland, glaciers have only a 6%...
-
A sales-based ranking of software companies provided by Yahoo! Finance on November 5, 2008, places Oracle Corporation third behind sales leaders Microsoft Corporation and IBM Software. Typical of...
-
Urn I contains 2 white and 4 red balls, whereas urn II contains 1 white and 1 red ball. A ball is randomly chosen from urn I and put into urn II, and a ball is then randomly selected from urn II....
-
Suppose that 5 percent of men and .25 percent of women are color blind. A color-blind person is chosen at random. What is the probability of this person being male? Assume that there are an equal...
-
What is the difference between par and book values of corporate stock? If an incorporated construction company wins a large cost plus fixed-fee contract, what impact might this have on the market...
-
How does a business evaluate its strategic choices?
-
Staffing decisions are considered an important component of strategic planning and the management process. Why? How is strategy implementation process connected to the decisions resulting from a...
-
Does staffing really follow strategy? Are the job applicants knowledge, skills, and abilities the key, or is it the corporate strategy?
-
What are the roles and responsibilities of an effective and active Board of Directors?
-
Is the balanced scorecard a useful tool for developing, controlling and enhancing the strategy implementation process of an organisation? Why or why not?
-
In Exercises 7479, solve each logarithmic equation. 3 + 4 ln(2x) = 15
-
Using Gauss-Jordan elimination, invert this matrix ONLY 0 0 0 0 1
-
Let X be a continuous random variable having cumulative distribution function F. Define the random variable Y by Y = F(X). Show that is uniformly distributed over (0, 1).
-
Consider the beta distribution with parameters (a, b). Show that a. When a > 1 and b > 1, the density is unimodal (that is, it has a unique mode) with mode equal to (a - 1)/(a +b - 2); b. When a 1,...
-
Let be a continuous distribution function. If U is uniformly distributed on (0, 1), find the distribution function of Y = F -1 (U), where F -1 is the inverse function of F. (That is, y = F-1(x) if...
-
A retirement home in Florida costs $ 2 0 0 , 0 0 0 today. Housing prices in Florida are increasing at a rate of 4 % per year. Joe wants to buy the home in 8 years when he retires. Joe has $ 2 5 , 0 0...
-
1. (55 points) Answer the following questions about the steady state system shown below. (Don't worry about starting from 1st Law - use common engineering assumptions.) a) Is it appropriate to use...
-
Describe at least three ways that Guidance Software responds to and helps to manage changes in our technology - driven world? Describe what forecasting involves and list three limitations to...
Database Management With Website Development Applications 1st Edition - ISBN: 0201743876 - Free Book
Study smarter with the SolutionInn App