Selected Answers from Ch1 &2 Quantitative Analysis

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Selected Answers from Ch1 &2 Quantitative Analysis
Module 1 Assignments
Chapter 1 problems
1.15
BEP=15050-20
Ray will need to sell 5 units to “break-even” on his total cost.
1.19
BEP=2,400(per week)40-25
To break even the billiard company would need to sell 160 cues per week. The revenue at the break-even point would be \$6400 a week. However to generate a profit the company would have to sale more than 160 cues a week.
1.21
120 units=2400S-25
S=45
Chapter 2 problems
2.17
a) P4inch=451 (4"nails)651+243+41+451+333(total nails) =.2624 There is a 26.24% chance of pulling a 4 inch nail from the bin
b)
P5inch=333(5"nails)1719total nails =.1937 There is a 19.37% chance of pulling a 5 inch nail from the bin

c) P(1" or 2" or 3" nail)=1-P(4"nail)-P(5"nail) =1-.2624-.1937=.5439 There is a 54.39% chance of pulling a nail 3 inches or smaller from the bin
2.21
PA.I.ǀ Bedoiun=P(BedoiunǀA.I.)/P(A.I. all tribesmen)PBedoiunǀA.I.PA.I all tribes men+ P(BedoiunǀE.K)P(E.K. all tribesmen There is a 38.46% chance that the Israeli soldier stumbled upon a Bedoiun tribesman from the Abu IIan (A.I) oasis.
PE.KǀBedoiun=1-.3846
There is a 61.54% chance that the soldier came across a Bedoiun tribesman from the El Kamin (E.K.) oasis.
2.27
a) P(living in Laketown and having cancer)=13650= .02 P(living in Laketown)XP(Having cancer)=6501000 ×191000=.01235 No because the probability of living in Laketown and having cancer is not equal to the probability of just having cancer
b) P( Living in River City and having cancer)=19-131000-650=.01714<.02(probability of living in Laketown and having cancer). Better to live in River City
2.33
Probability ofr successes in n trials=n!r!(n-r)!×prqn-r The probability of having exactly 3 sales in 4 attempts is 10.29% and the probability of 4 sales in the same number of attempts is 24.01%
2.41
a) There is a 69.15% chance that the project will take 62 weeks or less
b)There is a 93.32% chance the project will be completed in 66 weeks or less
c)

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