AFRICAN METHODIST EPISCOPAL UNIVERSITY

Quantitative Methods in Management 401 Semester I 2022/2023Assignment

INSTRUCTION:Answer all questions using the appropriate steps. Deadline for submission: December 8, 2022

1. Suppose a fair coin is flipped twice and we ask for the following probabilities:

a. probabilities of two heads,5pts

b. probability of one head and one tail in two flips,5pts

c. Probability of the of the second toss being a head,5pts

d. Probability of the second toss being a head, given that the first toss is a tail,10pts

2. Compute the following probabilities, which pertain to flipping a fair coin three times

a. P (three heads), 5pts

b. P (two or more heads in three tosses), 5pts

c. P (one or more tails in three tosses), 5pts

d. P (the last toss being a head),10pts

3. Assume three Urns:

6R 4B

8R 2B

4R 1B

No. 1 No. 2 No.3

Draw a ball from no.1: if red, go to no.2; if black, go to no. 3

a.What is P (red on second draw, given red on draw 1)? 5pts

b.What is P (black on second draw, given red on draw 1)? 5pts

c. What is P (red on second draw, given black on draw 1)? 5pts

d. What is P (black on second draw, given black on draw 1)? 5pts

e. What is P (black on second draw)?,5pt

4. Thirty chief executive officers in a certain industry are classified by age and by their previous functional position as shown in the table below:

Previous Age

Functional ________________________________________________

Position

Under 55 55 and older Total

Finance 4 14 18

Marketing 1 5 6

Other 4 2 6

Total 9 21 30

_______________________________________________________________

Suppose an executive is selected at random from this group.

1. What is the probability that the executive chosen is under 55? What type of probability is this?,5pts

1. What is the probability that an executive chosen at random is 55 or older and with marketing as the previous functional position? What type of probability is this?,10pts

1. Suppose an executive is selected, and you are told the previous position was in finance. What is the probability that the executive is under 55? What kind of probability is this?,10pts