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Although the frequentist interpretation is helpful for understanding the meaning of probability, it can't be used as....
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- If the probability of both a new Wal-Mart and a new Wendy's being built next month is 68% and the probability of a new Wal-Mart being built is 85%, what is the probability of a new Wendy's being built if a new Wal-Mart is built?A) 0.60.B) 0.80.C) 0.70.
- There is a 90% chance that the economy will be good next year and a 10% chance that it will be bad. If the economy is good, there is a 60% chance that XYZ Incorporated will have EPS of $4.00 and a 40% chance that their earnings will be $3.00. If the economy is bad, there is an 80% chance that XYZ Incorporated will have EPS of $2.00 and a 20% chance that their earnings will be $1.00. What is the firm's expected EPS?A) $3.42.B) $5.40.C) $2.50.
- A gardener collects pea seeds from his garden to plant the following year. As he opens the pods to get to the seeds, he finds 16 pods have large seeds, 9 pods have medium seeds, 20 pods have small seeds, and 5 pods have cracked seeds. Every pod has 3 seeds inside. If he chose a seed at random, what is the probability that it is a small seed?