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Mathematics
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Using and Understanding Mathematics
Quiz 7: Probability: Living With the Odds
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Question 61
Multiple Choice
Find the indicated probability. Round your answer to 6 decimal places when necessary. -An IRS auditor randomly selects 3 tax returns from 50 returns of which 5 contain errors. What is the probability that she selects none of those containing errors?
Question 62
Multiple Choice
Use the at least once rule to find the indicated probability. -Find the probability of at least one queen when you draw cards from a standard deck 11 times; assume you replace the card each time you draw , so there are always 52 cards to draw from.
Question 63
Multiple Choice
Find the expected value. -An insurance company will insure a $220,000 home for its total value for an annual premium of $590. If the company spends $30 per year to service such a policy, the probability of total loss for Such a home in a given year is 0.001 and you assume either total loss or no loss will occur, what is The company's expected annual gain (or profit) on each such policy?
Question 64
Multiple Choice
Solve the problem. -A local department store sells carpets in 4 sizes. Each carpet comes in 3 different qualities. One of the sizes comes in 5 colors. The other sizes come in 2 colors. How many choices of carpet are there?