Paper Topic:

Business Statistics

Module 1 - Case

Introduction to Probability

Solve the following problems showing your work

1 . Suppose you have 4 nickels , 6 dimes , and 4 quarters in your pocket If you draw a coin randomly from your pocket , what is the probability that a . You will draw a dime ? 6 /14 3 /7

b . You will draw a nickel ? 4 /14 2 /7

c . You will draw a quarter ? 4 /14 2 /7

2 . You are rolling a pair of dice , one red and one green . What is the probability of the following

outcomes

a . The sum of the two numbers you roll from the dice is 11

There are 2 possibilities

5 , 6 (Probability 1 /6 1 /6 1 /36

6 , 5 (Probability 1 /6 1 /6 1 /36

Cumulative Probability 1 /18

b . The sum of the two numbers you roll is 6

There are 5 possibilities

1 , 5 (Probability 1 /6 1 /6 1 /36

2 , 4 (Probability 1 /6 1 /6 1 /36

3 , 3 (Probability 1 /6 1 /6 1 /36

4 , 2 (Probability 1 /6 1 /6 1 /36

5 , 1 (Probability 1 /6 1 /6 1 /36

Cumulative Probability 5 /36

c . The sum of the two numbers you roll is 5

There are 4 possibilities

1 , 4 (Probability 1 /6 1 /6 1 /36

2 , 3 (Probability 1 /6 1 /6 1 /36

3 , 2 (Probability 1 /6 1 /6 1 /36

4 , 1 (Probability 1 /6 1...

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