Q1

Use information in the table below to answer questions about probability.

Number of visits	Frequency
0	33
1	29
2	19
3	16
4 or more	8

1. What is the relative frequency of the observations that fall in the category "1 visit"?
2. What fraction or proportion of the observations were "3 visits"?
3. What fraction or proportion of the observations had 3 or fewer visits?

Q2

Use information in the table below to answer questions about probability.

Joint Probability
	Red	Blue	Green
Yes	.17	.25	.23
No	.24	.09	.02

1. Find P(Yes)
2. Find P(Yes and Blue)
3. Find P(Yes|Blue)
4. Find P(Blue|Yes)

Q3

Three coins are dropped on a table.

1. List all possible outcomes in the sample space.
2. Find the probability associated with each outcome.
3. Let A be the event "exactly 2 heads." Find P(A).
4. Let B be the event "at most 1 head." Find P(B).
5. Let C be the event "at least 2 heads." Find P(C).
6. Are the events A and B mutually exclusive? Find P(A or B).
7. Are the events A and C mutually exclusive? Find P(A or C).

Q4

A survey of 100 MBA students found that 75 owned mutual funds, 35 owned stocks, and 15 owned both.

1. What is the probability that a student owns a stock? What is the probability that a student owns a mutual fund?
2. What is the probability that a student owns neither stocks nor mutual funds?
3. What is the probability that a student owns either a stock or a mutual fund?

Q6

If a cell phone company conducted a telemarketing campaign to generate new clients, and the probability of successfully gaining a new customer was 0.05, what are the probabilities that contacting 25 potential customers would result in at least five new customers?

Note: Based on the distributions we discussed in class, which one models the random variable?

Q7

A financial planning firm has capacity to meet with 85 clients daily. On any given day the chance that a client cancels an appointment is .22. What is the chance that 80 or more clients will make their appointments?