Wednesday
July 23, 2014

Homework Help: Statistics

Posted by y912f on Sunday, July 7, 2013 at 3:13pm.

At 100 college campuses, 1200 full-time undergraduate students were surveyed on their credit card usage. Among juniors, 65% reported that they didn't have a credit card in their own name, and 23% reported that they had at least one credit card in their own name and they paid their credit card balance in full each month.

Consider this probability experiment. A college junior is randomly selected. The junior is interviewed and then categorized into one of the following three categories: she does not have a credit card in her own name, she has at least one credit card in her own name and pays her credit card balance in full each month, or she has at least one credit card in her own name and maintains a credit card balance.
Consider the following events.
O = The junior does not have a credit card in her own name
C = The junior has at least one credit card in her own name
F = The junior has at least one credit card in her own name and pays her credit card balance in full each month
B = The junior has at least one credit card in her own name and maintains a credit card balance

1. The events O and B (are, are not) mutually exclusive.
2. The events B and F (are, are not) all-inclusive.
3. Event B (is, is not) composed of other events being considered in the experiment.
4. The set S = {O, C, F} (is, is not) the correct description of the list of all outcomes for the probability experiment because the events in S are (mutually exclusive and all-inclusive, not mutually exclusive, not all-inclusive)
5. Find P'(B) and P'(C), and list the probabilities
P'(B):
P'(C):

I am really confused on this whole problem, I would really appreciate it if someone could help me out!

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