In a Business Class,25% of the Students Have Never Taken

question 54

Multiple Choice

In a business class,25% of the students have never taken a statistics class,35% have taken only one semester of statistics,and the rest have taken two or more semesters of statistics.The professor randomly assigns students to groups of three to work on a project for the course.What is the probability that the first group mate you meet has studied some statistics?

• A)0.65
• B)0.60
• C)0.35
• D)0.40
• E)0.75

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Definitions:

Expected Value

The sum of all possible values each multiplied by its probability of occurrence, used to determine the average outcome of a random variable.

Perfect Information

refers to a theoretical condition in economics where all participants have complete and accurate information about the market.

Graphic Design

The art and practice of planning and projecting ideas and experiences with visual and textual content.

Expected Payoff

The predicted value or return of an investment or decision under uncertainty.