/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Problem 67 Auto Sales In April 2008, the pr... [FREE SOLUTION] | 91Ó°ÊÓ

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Auto Sales In April 2008, the probability that a randomly chosen new automobile was manufactured by General Motors was \(.21\), while the probability that it was manufactured by Toyota was. \(18 .{ }^{34}\) What is the probability that a randomly chosen new automobile was manufactured by neither company?

Short Answer

Expert verified
The probability that a randomly chosen new automobile was manufactured by neither General Motors nor Toyota is \(0.61\).

Step by step solution

01

Write down the given probabilities

We are given the following probabilities: - Probability of a new automobile manufactured by General Motors (GM) is \(0.21\). - Probability of a new automobile manufactured by Toyota is \(0.18\).
02

Use the complementary rule of probability

According to the complementary rule of probability, the probability of an event not occurring is equal to \(1\) minus the probability of the event occurring. In this case, we will subtract the probabilities of the automobile being manufactured by GM and Toyota from \(1\) to get the probability of an automobile being manufactured by neither company. Probability neither GM nor Toyota = \(1 - (P(\text{GM}) + P(\text{Toyota}))\)
03

Calculate the probability of a new automobile being manufactured by neither company

Now, substitute the given probabilities in the above equation to find the probability of a new automobile being manufactured by neither company. Probability neither GM nor Toyota = \(1 - (0.21 + 0.18) = 1 - 0.39\) Probability neither GM nor Toyota = \(0.61\) The probability that a randomly chosen new automobile was manufactured by neither General Motors nor Toyota is \(0.61\).

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Key Concepts

These are the key concepts you need to understand to accurately answer the question.

Complementary Rule of Probability
Sometimes it is easier to calculate the probability of an event not happening than it is to calculate the probability of it happening. This is where the complementary rule of probability comes into play.

Simply put, the complementary rule tells us that the probability of an event not occurring is equal to one minus the probability of the event occurring. In mathematical terms, if the probability of an event is represented as \(P(A)\), then the probability of the event not occurring is represented as \(1 - P(A)\).

In the context of our exercise, we want to find the probability that a car was manufactured by neither General Motors nor Toyota. We already know the probabilities of them being manufactured by either of these companies. By using the complementary rule, we can subtract these probabilities from one. This will give us the answer we want!

This principle can be very handy, especially when dealing with complex problems, as it often simplifies the calculations or gives you a quick shortcut to the solution.
Probability Calculation
Probability is a fundamental concept in statistics and mathematics that measures how likely an event is to occur. It’s represented as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty. When calculating probability, it’s essential to add up all probabilities related to different possibilities correctly.

In our auto sales example from April 2008, we calculate the probability of a car being manufactured by either GM or Toyota by adding their individual probabilities. Given:
  • GM probability is \(0.21\)
  • Toyota probability is \(0.18\)
The total probability for a car being manufactured by either one is the sum of these two probabilities: \( P(\text{Either GM or Toyota}) = 0.21 + 0.18 = 0.39 \).

This simple addition tells us that 39% of the cars were manufactured by one of these companies. Once we have this figure, we can use it to determine the probability through complementary probability to figure out how many cars were not built by either company.
Event Probability
Event probability refers to the likelihood or chance of a particular event occurring within a set of possible outcomes. It's helpful to think of probability as a forecast. Just like checking the weather, when you calculate probabilities, you predict the likelihood of events happening.

In the case of this exercise, the event in focus is a car being manufactured by neither General Motors nor Toyota. Calculating individual probabilities of various events helps in understanding the bigger picture.
  • If you sum the probabilities of all possible distinct outcomes of an experiment (where occurrences are mutually exclusive and collectively exhaustive), it should always total 1.
  • Each outcome's probability must lie between 0 and 1.
Using the event probability for our problem, we focus on the outcome that a randomly chosen automobile is not crafted by the major companies listed. By calculating \(1 - 0.39 = 0.61\), we find out there is a 61% chance that a new car is from another manufacturer altogether. This demonstrates how understanding individual event probabilities helps us derive conclusions about other outcomes in a set.

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Most popular questions from this chapter

I n t e r n e t ~ I n v e s t m e n t s ~ i n ~ t h e ~ } 90 \mathrm{~s} \text { The following excerpt is }\\\ &\text { from an article in The New York Times in July, } 1999 .^{28} \end{aligned} Right now, the market for Web stocks is sizzling. Of the 126 initial public offerings of Internet stocks priced this year, 73 are trading above the price they closed on their first day of trading..... Still, 53 of the offerings have failed to live up to their fabulous first-day billings, and 17 [of these] are below the initial offering price. Assume that, on the first day of trading, all stocks closed higher than their initial offering price. a. What is a sample space for the scenario? b. Write down the associated probability distribution. (Round your answers to two decimal places.) c. What is the probability that an Internet stock purchased during the period reported ended either below its initial offering price or above the price it closed on its first day of trading?

Employment You have worked for the Department of Administrative Affairs (DAA) for 27 years, and you still have little or no idea exactly what your job entails. To make your life a little more interesting, you have decided on the following course of action. Every Friday afternoon, you will use your desktop computer to generate a random digit from 0 to 9 (inclusive). If the digit is a zero, you will immediately quit your job, never to return. Otherwise, you will return to work the following Monday. a. Use the states (1) employed by the DAA and (2) not employed by the DAA to set up a transition probability matrix \(P\) with decimal entries, and calculate \(P^{2}\) and \(P^{3}\). b. What is the probability that you will still be employed by the DAA after each of the next three weeks? c. What are your long-term prospects for employment at the DAA? HIIIT [See Example 5.]

Explain: If \(Q\) is a matrix whose rows are steady-state distribution vectors, then \(Q P=Q\).

Complete the following probability distribution table, and then calculate the stated probabilities. $$ \begin{array}{|r|c|c|c|c|c|} \hline \text { Outcome } & \mathrm{a} & \mathrm{b} & \mathrm{c} & \mathrm{d} & \mathrm{e} \\ \hline \text { Probability } & .1 & .05 & .6 & .05 & \\ \hline \end{array} $$ a. \(P(\\{a, c, e)\\}\) b. \(P(E \cup F),\) where \(E=\\{\mathrm{a}, \mathrm{c}, \mathrm{e}\\}\) and \(F=\\{\mathrm{b}, \mathrm{c}, \mathrm{e}\\}\) c. \(P\left(E^{\prime}\right),\) where \(E\) is as in part (b) d. \(P(E \cap F)\), where \(E\) and \(F\) are as in part (b)

Determine whether the information shown is consistent with a probability distribution. If not, say why. \(P(A)=.2 ; P(B)=.4 ; P(A \cap B)=.2\)

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