6.3 Assignment of Probabilities Example A factory needs two raw materials. The probability of not having an adequate supply of Material A is 0.05, whereas the probability of not having enough supply of Material B is A study determines that the probability of a shortage od both is What is the proportion of the time that the factory can operate? Pr(short on A) = Pr(short on B) = Pr(short on both) =

6.3 Assignment of Probabilities Example The following table was derived from a survey of college freshmen attending 4-year colleges. Each probability is the likelihood that a randomly selected freshman applied to the specific number of college. Convert these data into a probability distribution. Number of Colleges Applied toProbability or less or less or less or less1 # of Colleges Applied to Probability

6.3 Assignment of Probabilities Odds If the odds in favor of an event, E, occurring are: a to b then If: Pr(E) = p then the odds in favor of E are: Example Suppose that the odds of rain tomorrow are 5 to 3. What is the probability it will rain?

6.3 Assignment of Probabilities Example In poker, the probability of being dealt a hand containing a pair of jacks or better is about 1/6. What are the corresponding odds? Example The odds of Americans living in the state where they were born is 17 to 8. What is the probability that an American selected at random lives in his or her birth state?

6.3 Assignment of Probabilities Example The probability of obtaining a sum of 8 or more when rolling two dice is 5/36. What are the odds of obtaining a sum of 8 or more? Homework Problems to complete from section 6.3: – Pg. 281 #11 – 15 odd, 21, 22, 27, 28