Using Probabilities

Here are the instructions for your badge assessment. Review them carefully. Feel free to complete it as you complete this learning app.

Instructions
Please use concepts of probability to answer the following questions. You should show all your work and explain your solution process. For example, explain how you calculated each probability and used this information to better understand the situation. Make sure to write each answer using the context of the problem. That means your answer should be a complete sentence that explains what the answer means in terms of the situation.

• The table shows the number (in thousands) of earned degrees conferred in the United States in the year 2004 by level and gender.

• A person who earned a degree in 2004 is randomly selected. Find the probability of selecting someone who earned:
  
  
  0. A bachelor’s degree.
  1. A bachelor’s degree, given that person is female.
  2. An associate degree or a bachelor’s degree.
  3. A doctorate, given that person is not female.
  4. A master’s degree or is female.
• A certain disease has an incidence rate of 2%. If the false negative rate is 10% and the false positive rate is 1%, compute the probability that a person who tests positive actually has the disease.
• The United States Senate Appropriations Committee consists of 29 members—15 Republicans and 14 Democrats. The Defense Subcommittee consists of 19 members—10 Republicans and 9 Democrats. How many different ways can the members of the Defense Subcommittee be chosen from among the 29 senators on the Appropriations Committee?
• A warehouse employs 57 workers and uses production teams of 3: preparation, assembly, and quality check. How many different options for production teams does the manager have?
• A company estimates that 0.7% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $350. If they offer a 2-year extended warranty for $48, what is the company’s expected value of each warranty sold?

Format
Word Doc—Present your answers in a single document. Use the Equation Editor where needed to show your work.
APA style