URGENT!!!

Kathy and Mark Smith believe investing in their retirement is critical. Kathy began investing 20% of each paycheck in a retireme

Zina [12379]

Answer:

Kathy: $1,224,000

Mark: $306,000

Please refer to the attachment.

5 0

2 months ago

Anthony is informed that there is a 10% chance that he will be hired by the prestigious Acme corporation. He believes that, give

Zina [12379]

Answer:

8% likelihood that Anthony may soon join the Acme golf team

Step-by-step explanation:

The probabilities are as follows:

10% chance of being hired by the corporation.

If hired, an 80% probability of making the golf team is expected.

Given this information, we can calculate the probability of Anthony soon playing on the Acme golf team as:

80% of 10%

Thus

P = 0.8*0.1 = 0.08

8% chance that Anthony will soon be part of the Acme golf team

4 0

2 months ago

Axline Computers manufactures personal computers at two plants, one in Texas and the other in Hawaii. The Texas plant has 40 emp

Zina [12379]

Answer:

a) The likelihood that none of the sampled employees are from the Hawaii plant is 1.74%.

b) The chance that exactly 1 employee from the sample is found working in the Hawaii plant is 8.70%.

c) There is an 89.56% chance that 2 or more employees in the sample are from the Hawaii plant.

d) The probability that 9 employees from the sample are working at the Texas plant is 8.70%.

Step-by-step explanation:

Each employee has two potential employment locations: either Texas or Hawaii. Thus, the binomial probability distribution can be utilized to solve this scenario.

Binomial probability distribution

This distribution defines the probability of achieving exactly x successes in n trials where there are only two outcomes.

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

Here, $C_{n,x}$ denotes the number of ways to choose x objects from a set of n, represented by the subsequent formula.

$C_{n,x} = \frac{n!}{x!(n-x)!}$

And p is the probability of success occurring.

In this context, we know:

The sample comprises 10 employees, therefore $n = 10$ .

a. Calculate the probability that none of the sampled employees are from the Hawaii plant (to 4 decimals)?

Given that 20 out of 60 employees are based in Hawaii:

$p = \frac{20}{60} = 0.333$

We aim to find P(X = 0).

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 0) = C_{10,0}.(0.333)^{0}.(0.667)^{10} = 0.0174$

Thus, the likelihood that none in the sample are from Hawaii stands at 1.74%.

b. Calculate the probability that 1 employee from the sample is from the Hawaii plant?

This is represented as P(X = 1).

$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

$P(X = 1) = C_{10,1}.(0.333)^{1}.(0.667)^{9} = 0.0870$

Therefore, there is an 8.70% possibility that 1 employee in the sample comes from Hawaii.

c. Calculate the probability that 2 or more employees in the sample are from the Hawaii plant?

We can observe two scenarios: either fewer than 2 employees are from Hawaii or 2 and beyond. The combined probabilities equal decimal 1. So:

$P(X < 2) + P(X \geq 2) = 1$

We seek to find $P(X \geq 2)$ .

$P(X \geq 2) = 1 - P(X < 2)$

From problems a and b, we possess values for both probabilities.

$P(X < 2) = P(X = 0) + P(X = 1) = 0.0174 + 0.0870 = 0.1044$

$P(X \geq 2) = 1 - P(X < 2) = 1 - 0.1044 = 0.8956$

Accordingly, the chance that 2 or more employees in this sample operate at the Hawaii plant is 89.56%.

d. Calculate the likelihood that 9 employees in the sample are working at the Texas plant?

This corresponds to the probability found in part b for 1 employee working in Hawaii.

Consequently, there is an 8.70% chance that 9 employees belong to the Texas plant.

6 0

2 months ago