Problem Set on Probability

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Problem Set

1. According to Labor Statistics, 75% of the women 25 through 49 years of age participate in the labor force. Suppose 78% of the women in this age group are married. Suppose also that 61% of all women 25 – 49 years of age are married and are participating in the labor force. What is the probability that a randomly selected woman in this age group is not married and participating in the labor force?

2. A study by Becker Associates, a travel consultant, found that 30% of the traveling public said that their flight selections are influenced by perceptions of airline safety. Forty percent of the traveling public wants to know the age of the aircraft. Suppose 89% of the traveling public who say that their flight selections are influenced by perceptions of airline safety wants to know the age of the aircraft. What is the probability of randomly selecting a member of the traveling and finding out that he says that flight selection is neither influenced by perceptions of airline safety nor age of the aircraft?

3. In a study of incentives used by companies to retain mature workers by The Conference Board, it was reported that 40% use flexible work arrangements. Suppose that of those companies that do not use flexible work arrangements, 11% give time off for volunteerism. In addition, suppose that of those companies that use flexible work arrangements, 62% give time off for volunteerism. If a company is randomly selected, what is the probability that the company does not use flexible work arrangements given that the company gives time off for volunteerism?

4. A telephone survey conducted by ABC Marketing Research company found that 43% of the subscribers expect to save more money next year than they saved last year. Forty-five percent of those surveyed plan to reduce debt next year. Of those who expect to save more money next year, 85% plan to reduce debt next year. A subscriber is randomly selected. What is the probability that this person expects...
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