Question: The probability of getting a big order currently under negotiation is 0.4. The probability of losing money this quarter is 0.5. a. Assume that these

The probability of getting a big order currently under negotiation is 0.4. The probability of losing money this quarter is 0.5.
a. Assume that these are mutually exclusive events. Find the probability of getting the order or losing money.
b. Again assume that these are mutually exclusive events. Does this rule out the possibility that you fail to get the order and make money this quarter?
c. Now assume instead that the events “get the order” and “lose money” are independent (since the order will not show up in this quarter’s financial statements). Find the probability of getting the order and losing money.
d. Now assume instead that the probability of getting the order and losing money is 0.1. Are the events “get the order” and “lose money” independent? How do you know?

Step by Step Solution

★★★★★

3.41 Rating (173 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a The probability is 04 05 09 b No It does not rule out this possibility that neither ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

636-M-S-P (4086).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

A manufacturer buys valves from two suppliers. The quality of the valves from the suppliers is as follows: For example, the probability of getting a batch of valves that are 1 % defective from...

1. If the graduate applies to all 10 companies, what is the probability that she will get at least one offer? 2. If she can apply to only one company, based on cost and success probability criteria...

If one order is selected, find the probability of getting an order that is not accurate. Use the data in the following table, which lists drive-thru order accuracy at popular fast food chains (data...

The probability of getting a big order currently under negotiation is 0.32. The probability of losing money this quarter is 0.54. a. Assume that these are mutually exclusive events. Find the...

. The U.S. 1will lilizelyr have to increase its militaryr activities in the Middle East. This should cause output to rise. . Suppose that the data shows that times of high consumer and rm borrowing...

$$help me solve this pls. Question 1 (20 points) Consider the standard Mortensen-Pissarides model in continuous time. Labor force is normalized to 1. Unemployed workers with measure u search for...

% 3. Diamond 0G model with immigration policy We will investigate the possibility that the government has control over the rate of population growth, I: E [CL ] through controlling the amount of...

$102Econ answer. 4. Consider a Lucas tree economy with additional endowments. We assume that the endowment y can take on two values with equal probability in each period, a high value given by y",...

1. Chapter Five # 10, 12, 14, 22 10). A population of raw scores is normally distributed with =60 and = 14. Determine the z scores for the following raw scores taken from the population: A). 76 b)....

11:56 PP - 1CO 0 & O all all 53% Edit 30 X STATE UNIVERSITY OF NEW YORK AT ALBANY Department of Economics Ph. D. Comprehensive Examination: Macroeconomics June, 2017 Section 1. (Suggested Time: 45...

In the Western United States there is a saying, "Whisky is for drinken but water is for fighten!" Water and water rights have been fought over ever since ranchers and settlers moved into Wyoming,...

The J. C. Spangle catalog company began business on January 1, 2012. Activities of the company for the first two years are as follows: a. Prepare income statements for 2012 and 2013, assuming that...

Which of the following statements is true if this economy is operating at P1 and Y1? I. The level of aggregate output equals potential output. II. It is in short-run macroeconomic equilibrium. III....

Why are values important?

How can you use the executive summary and introduction to reach a diverse audience with limited time?

Should you assume that everyone who reads your conclusion is already familiar with all of the details of the analysis and methods section?

What can you do to help those in your audience who are short of time?

2. Exhibit 9.14 presents the income statement and balance sheet for PartsCo, a $900 million supplier of machinery parts. Next year, the company is expected to grow revenues by 15 percent to $1,035...

The change between a firm's beginning cash balance and ending cash balance would equal a total assets minus total liabilities minus total stockholders' equity. b net income plus new borrowing minus...

A put option with a strike of $ 7 3 and 8 month maturity on an underlying share priced at $ 6 0 is currently available at $ 1 6 . What would be the value of a synthetic call option for the same...