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Get on the boat! A small ferry runs every half hour from one side of a large river to the other. The probability distribution for the random variable Y = money collected (in dollars) on a randomly selected ferry trip is shown here.

Part (a). FindP(Y<20)P(Y<20) . Interpret this result.

Part (b). Express the event 鈥渁t least $20 is collected鈥 in terms of Y. What is the probability of this event?

Short Answer

Expert verified

Part (a) 31%

Part (b) 69%

Step by step solution

01

Part (a) Step 1. Given information.

Money collected0510152025
ProbabilityY=y0.020.050.080.160.270.42
02

Part (a) Step 2. P(X>20)P(X>20). Interpret this result 

If two events cannot occur at the same time, they are disjoint or mutually exclusive.

Addition rule for events that are disjoint or mutually exclusive:

P(AUB)=P(A)+P(B)

Money collected0510152025
Probability PY=y0.020.050.080.160.270.42

The following probabilities are provided by the table above.

localid="1653999013849" P(Y=0)=0.03P(Y=5)=0.05P(Y=10)=0.08P(Y=15)=0.16

Because collecting two different amounts for the same ferry trip is not possible. The gatherings are mutually exclusive.

For mutually exclusive events, apply the addition rule:

P(Y<20)=P(Y=0)+P(Y=5)+P(Y=10)+P(Y=15)P(Y<20)=0.02+0.05+0.08+0.16P(Y<20)=0.31P(Y<20)=31%

This implies that about 31% of all ferry trips result in less than 20 dollars being collected.

03

Part (b) Step 1. The event “at least $20 is collected” in terms of Y 

If two events cannot occur at the same time, they are disjoint or mutually exclusive.

Addition rule for events that are disjoint or mutually exclusive:

P(AUB)=P(A)+P(B)

Money collected0510152025
Probability Y=y0.020.050.080.160.270.42

Because Y represents the money collected from a random ferry trip.Y20represents "at least $20 is collected."

The table above shows the following probabilities:

P(Y=20)0.27P(Y=25)=0.42

The events are mutually exclusive because it is not possible to collect two different amounts for the same ferry trip.

For mutually exclusive events, apply the addition rule:

P(Y20)=P(Y20)+P(Y-25)P(Y20)=0.27+0.42P(Y20)=0.69P(Y20)=69%

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