/*! 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} Q47E Return to the credit card scenar... [FREE SOLUTION] | 91影视

91影视

Return to the credit card scenario of Exercise, and let C be the event that the selected student has an American Express card. In addition to\(P\left( A \right) = 0.6\), \(P\left( B \right) = 0.4\), and\(P\left( {A \cap B} \right) = 0.3\), suppose that\(P\left( C \right) = 0.2\), \(P\left( {A \cap C} \right)\; = 0.15\), \(P\left( {B \cap C} \right) = 0.1\), and \(P\left( {A \cap B \cap C} \right) = 0.08\)

a. What is the probability that the selected student has at least one of the three types of cards?

b. What is the probability that the selected student has both a Visa card and a MasterCard but not an American Express card?

c. Calculate and interpret \(P\left( {B|A} \right)\)and also \(P\left( {A|B} \right)\)

d. If we learn that the selected student has an American Express card, what is the probability that she or he also has both a Visa card and a MasterCard?

e. Given that the selected student has an American Express card, what is the probability that she or he has at least one of the other two types of cards?

Short Answer

Expert verified

a. The probability that the selected student has at least one of the three types of cards is \(0.73\).

b. The probability that the selected student has both a Visa card and a MasterCard but not an American Express card is \(0.22\).

c. \(P\left( {A|B} \right) = 0.75\) and \(P\left( {A|B} \right) = 0.5\)

d. The probability that she or he also has both a Visa card and a MasterCard is\(0.4\).

e. The probability that she or he has at least one of the other two types of cards is 0.85.

Step by step solution

01

Definition of Probability

Probability is a discipline of mathematics concerned with numerical explanations of the likelihood of an event occurring or the truth of a claim. The probability of an event is a number between \(0\;and{\rm{ }}1\), with zero indicating impossibility and one indicating certainty, broadly speaking.

02

Calculation for determining probability in part (a)

The chancethat the student has at least one of the three occurrences can also be written as the probability that the student has A, B, or C, which is the unionof the three events.

For every three events, A, B and C, the following equation will be true

\(P(A \cup B \cup C){\rm{ }} = P(A) + P(B) + P(C) - P(A \cap B) - P(A \cap C) - P(B \cap C) + P(A \cap B \cap C)\)

Using this, we have

\(\begin{array}{c}P(A \cup B \cup C) &=& P(A) + P(B) + P(C) - P(A \cap B) - P(A \cap C) - P(B \cap C) + P(A \cap B \cap C)\\ &=& 0.6 + 0.4 + 0.2 - 0.3 - 0.5 - 0.1 + .08\\ &=& 0.73\end{array}\)

03

Calculation for determining probability in part (b)

The probability that the selected student has both a Visa and a MasterCard but no American Express card can also be written as the probability that the student has A and B but no C, i.e., the intersection of the three events.

We can see from the Venn Diagram below (shaded region) that

\(\begin{array}{c}P\left( {A \cap B \cap {C^\prime }} \right) &=& P(A \cap B) - P(A \cap B \cap C)\\ &=& 0.3 - 0.08\\ &=& 0.22\end{array}\)

04

Explanation for the determination of probability in part (c)  

Conditional probability of A given that the event B has occurred, for which \(P\left( B \right) > 0\),vis

\(P(A\mid B) = \frac{{P(A \cap B)}}{{P(B)}}\)

for any two event A and B.

Using this,

\(P(B\mid A) = \frac{{P(B \cap A)}}{{P(A)}}\mathop = \limits^{(1)} \frac{{0.3}}{{0.6}} = 0.5,\)

(1): given in the exercise.

05

Further explanation for the determination of probability in part (c)  

And

\(P(A\mid B) = \frac{{P(A \cap B)}}{{P(B)}}\mathop = \limits^{(1)} \frac{{0.3}}{{0.4}} = 0.75\)

(1): given in the exercise.

Interpretation of the \(P(B\mid A) = 0.5\), When we know a student has a Visa card, the probability that he or she has a MasterCard card will be \(0.5\) (half student who have Visa, have a MasterCard too).

Interpretation of the \(P(B\mid A) = 0.75\), When we know a student has a Visa card, the probability that he or she has a MasterCard card will be \(0.75\)(three-quarters of students with a MasterCard also have a Visa).

06

Explanation for the determination of probability in part (d)  

In the exercise, we are given probabilities for certain events.

Probability that a student with an American Express card (event C) also possesses a Visa and MasterCard card (\(A \cap B\) because of "and") is

\(\begin{align} P(A\cap B\mid C)&=\frac{P[(A\cap B)\cap C]}{P(C)}......(1) \\ & =\frac{P(A\cap B\cap C)}{P(C)} \\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ &=\frac{0.08}{0.2}......(2) \\ &=0.4 \\ \end{align}\)

(1): here we use definition of conditional probability given below, where \(A \cap B\) is a single event,

(2): we are given the probabilities in the exercise.

Conditional probability of A given that the event B has occurred, for which \(P\left( B \right) > 0,\)is

\(P(A\mid B) = \frac{{P(A \cap B)}}{{P(B)}}\)

for any two event A and B.

07

Explanation for the determination of probability in part (e)  

Probability that an American Express cardholder (event C) also possesses a Visa or MasterCard card (\(A \cup B\)because of "or") is

\(\begin{align} P(A\cup B\mid C)&=\frac{P[(A\cup B)\cap C]}{P(C)}................(1) \\ & =\frac{P[(A\cap C)\cup (B\cap C)]}{P(C)}.................(2) \\ & =\frac{P(A\cap C)+P(B\cap C)-P[(A\cap C)\cap (B\cap C)]}{P(C)}................(3) \\ & =\frac{P(A\cap C)+P(B\cap C)-P(A\cap B\cap C)}{P(C)} \\ & =\frac{0.15+0.1-0.08}{0.2}................(4) \\ & =0.85, \end{align}\)

08

Further explanation for the determination of probability in part (e)  

(1): here we use definition of conditional probability given below, where \(A \cap B\) is a single event,

(2): this stands for any three events A, B and C,

(3): we use the proposition given below where events \(A \cap B\) and \(B \cap C\) are the single events (first one is \({A_1} = A \cap B\) from the definition, second one is \({B_1} = B \cap C\) from the definition),

(4): the probabilities are given in the exercise.

For every two events \({A_1}\) and \({B_1}\)

\(P\left( {{A_1} \cup {B_1}} \right) = P\left( {{A_1}} \right) + P\left( {{B_1}} \right) - P\left( {{A_1} \cap {B_1}} \right).\)

Conditional probability of A given that the event B has occurred, for which \(P(B) > 0\), is

\(P(A\mid B) = \frac{{P(A \cap B)}}{{P(B)}}\)

for any two events A and B.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

An engineering construction firm is currently working on power plants at three different sites. Let Aidenote the event that the plant at site i is completed by the contract date. Use the operations of union, intersection, and complementation to describe each of the following events in terms of \({A_1}\), \({A_2}\), and \({A_3}\), draw a Venn diagram, and shade the region corresponding to each one.

a. At least one plant is completed by the contract date.

b. All plants are completed by the contract date.

c. Only the plant at site 1 is completed by the contract date.

d. Exactly one plant is completed by the contract date.

e. Either the plant at site 1 or both of the other two plants are completed by the contract date.

A quality control inspector is examining newly produced items for faults. The inspector searches an item for faults in a series of independent fixations, each of a fixed duration. Given that a flaw is actually present, let p denote the probability that the flaw is detected during any one fixation (this model is discussed in 鈥淗uman Performance in Sampling Inspection,鈥 Human Factors, \({\rm{1979: 99--105)}}{\rm{.}}\)

a. Assuming that an item has a flaw, what is the probability that it is detected by the end of the second fixation (once a flaw has been detected, the sequence of fixations terminates)?

b. Give an expression for the probability that a flaw will be detected by the end of the nth fixation.

c. If when a flaw has not been detected in three fixations, the item is passed, what is the probability that a flawed item will pass inspection?

d. Suppose \({\rm{10\% }}\) of all items contain a flaw (P(randomly chosen item is flawed) . \({\rm{1}}\)). With the assumption of part (c), what is the probability that a randomly chosen item will pass inspection (it will automatically pass if it is not flawed, but could also pass if it is flawed)?

e. Given that an item has passed inspection (no flaws in three fixations), what is the probability that it is actually flawed? Calculate for \({\rm{p = 5}}\).

Use Venn diagrams to verify the following two relationships for any events Aand B (these are called De Morgan鈥檚 laws):

a.\(\left( {A \cup B} \right)' = A' \cap B'\)

b.\(\left( {A \cap B} \right)' = A' \cup B'\)

Hint:In each part, draw a diagram corresponding to the left side and another corresponding to the right side.)

A wallet contains five \(10 bills, four \)5 bills, and six \(1 bills (nothing larger). If the bills are selected one by one in random order, what is the probability that at least two bills must be selected to obtain a first \)10 bill?

In five-card poker, a straight consists of five cards with adjacent denominations (e.g., \({\rm{9}}\)of clubs, \({\rm{10}}\)of hearts, jack of hearts, queen of spades, and king of clubs). Assuming that aces can be high or low, if you are dealt a five-card hand, what is the probability that it will be a straight with high card \({\rm{10}}\)? What is the probability that it will be a straight? What is the probability that it will be a straight flush (all cards in the same suit)?

See all solutions

Recommended explanations on Math Textbooks

View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.