Question

4 This table shows the probability that one or more buses will arrive at the library in the next
Number of buses
1
2
More than 2
Probability
0.65
0.15
0.05
Work out the probability of:
a no buses b at least 1 bus c at least 2 buses.

pleae answer this ​

Answer 1

Answer:

Managers need to cope with uncertainty in many decision

making situations. For example, you as a manager may assume

that the volume of sales in the successive year is known exactly to

you. This is not true because you know roughly what the next year

sales will be. But you cannot give the exact number. There is some

uncertainty. Concepts of probability will help you to measure

uncertainty and perform associated analyses. This unit provides the

conceptual framework of probability and the various probability

rules that are essential in business decisions.

Learning objectives:

After reading this unit, you will be able to:

 Appreciate the use of probability in decision making

 Explain the types of probability

 Define and use the various rules of probability depending on

the problem situation.

 Make use of the expected values for decision-making.

Probability

Sets and Subsets

The lesson introduces the important topic of sets, a simple

idea that recurs throughout the study of probability and statistics.

Set Definitions

 A set is a well-defined collection of objects.

 Each object in a set is called an element of the set.

 Two sets are equal if they have exactly the same elements

in them.

 A set that contains no elements is called a null set or an

empty set.

 If every element in Set A is also in Set B, then Set A is a

subset of Set B.

Set Notation

 A set is usually denoted by a capital letter, such as A, B, or

C.

 An element of a set is usually denoted by a small letter, such

as x, y, or z.

 A set may be decribed by listing all of its elements enclosed

in braces. For example, if Set A consists of the numbers 2,

4, 6, and 8, we may say: A = {2, 4, 6, 8}.

 The null set is denoted by {∅}.