Business Finance Homework Help

In module 03, we discussed the rules of probability, how to count events, and calculate outcomes. In this assignment, use the data you gathered for the Module 02 Assessment to calculate the probability of certain events. Then, use permutations and combinations to find the number of ways certain events can occur.

Instructions

PART ONE – DATA TABLE

Using the data, you collected from the people surveyed in the Module 02 Assessment, fill in the following table:

Average Number of Hours Sleep per Night

Less than or equal to 6 hours / Greater than 6 hours/ Total

Student

• Not a Student
• Total
• PART TWO – PROBABILITY QUESTIONS
• From the completed table, address the following questions by providing the correct answer, and show all the steps with an explanation of steps using proper terminology:

What is the probability that a randomly selected person slept less than an average of 6 hours per night?

What is the probability that a randomly selected person is a student?

What is the probability that a randomly selected student slept greater than an average of 6 hours a night?

1. What is the probability that a randomly selected person who sleeps greater than an average of 6 hours a night is not a student?
2. What is the probability that a randomly selected person is not a student or slept less than an average of 6 hours a night?
3. PART THREE – COUNTING QUESTIONS
4. Address the following questions by providing the correct answer, explain why you selected the counting method, and show all the steps with an explanation of steps using proper terminology:
5. You’d like to gain more information from a subset of people you know. You want to choose 5 people from your group of 10 that you surveyed to ask additional questions. How many ways can you pick this subset of 5 people?