Independent Events – NBC Institute

QTB – May 2015 – L1 – SB – Q5a – Statistics

This question involves calculating the probabilities of various scenarios of success for two independent businesses using probability theory.

Question

a. The probability that business A succeeds is 0.65 while the probability that business B
succeeds is 0.75. If the successes of the two events are independent, obtain the
probability that
i. either business A or business B or both businesses succeed (4 Marks)
ii. only one of the businesses succeeds (3 Marks)
iii. none of the two businesses succeed (3 Marks)

Answer

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Tags: Business Success, Independent Events, Probability
Level: Level 1

Topic: Statistics
Series: MAY 2015

QT – Nov 2016 – L1 – Q1b – Probability

This part focuses on calculating the probability of an ICAG-qualified individual and their spouse being selected for a position.

Question

Mr. Agbagba, an ICAG qualified member, and his wife, an ICAEW qualified member, attended an interview for two vacancies for the post of College Finance Officer at a Private University. The probability of the interview panel selecting the man is 1/7, and that of the wife is 1/5.

Required:
Assuming the event of selecting a man and selecting a woman are independent, determine the probability that:
i) Both of them will be selected. (3 marks)
ii) Only one of them will be selected. (3 marks)
iii) None of them will be selected. (3 marks)

Answer

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Tags: Conditional Probability, Independent Events, Probability, Probability of Selection
Level: Level 1

Topic: Probability
Series: NOV 2016

QT – Nov 2016 – L1 – Q1a – Probability

Explains key probability terms such as independent events, mutually exclusive events, and joint probability.

Question

Distinguish between the following terms as used in probability:
i) Independent Events and Dependent Events. (2 marks)
ii) Mutually exclusive Events and Exhaustive Events. (2 marks)
iii) Marginal Probability and Joint Probability. (2 marks)

Answer

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Tags: Dependent Events, Exhaustive Events, Independent Events, Joint Probability, Marginal Probability, Mutually Exclusive Events, Probability
Level: Level 1

Topic: Probability
Series: NOV 2016

QTB – May 2015 – L1 – SB – Q5a – Statistics

This question involves calculating the probabilities of various scenarios of success for two independent businesses using probability theory.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Success, Independent Events, Probability
Level: Level 1

Topic: Statistics
Series: MAY 2015

QT – Nov 2016 – L1 – Q1b – Probability

This part focuses on calculating the probability of an ICAG-qualified individual and their spouse being selected for a position.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Conditional Probability, Independent Events, Probability, Probability of Selection
Level: Level 1

Topic: Probability
Series: NOV 2016

QT – Nov 2016 – L1 – Q1a – Probability

Explains key probability terms such as independent events, mutually exclusive events, and joint probability.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Dependent Events, Exhaustive Events, Independent Events, Joint Probability, Marginal Probability, Mutually Exclusive Events, Probability
Level: Level 1

Topic: Probability
Series: NOV 2016

Question Tag: Independent Events

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QTB – May 2015 – L1 – SB – Q5a – Statistics

This question involves calculating the probabilities of various scenarios of success for two independent businesses using probability theory.

QT – Nov 2016 – L1 – Q1b – Probability

This part focuses on calculating the probability of an ICAG-qualified individual and their spouse being selected for a position.

QT – Nov 2016 – L1 – Q1a – Probability

Explains key probability terms such as independent events, mutually exclusive events, and joint probability.

QTB – May 2015 – L1 – SB – Q5a – Statistics

This question involves calculating the probabilities of various scenarios of success for two independent businesses using probability theory.

QT – Nov 2016 – L1 – Q1b – Probability

This part focuses on calculating the probability of an ICAG-qualified individual and their spouse being selected for a position.

QT – Nov 2016 – L1 – Q1a – Probability

Explains key probability terms such as independent events, mutually exclusive events, and joint probability.

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Question Tag: Independent Events

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QTB – May 2015 – L1 – SB – Q5a – Statistics

This question involves calculating the probabilities of various scenarios of success for two independent businesses using probability theory.

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QT – Nov 2016 – L1 – Q1b – Probability

This part focuses on calculating the probability of an ICAG-qualified individual and their spouse being selected for a position.

You're reporting an error for "QT – Nov 2016 – L1 – Q1b – Probability"

QT – Nov 2016 – L1 – Q1a – Probability

Explains key probability terms such as independent events, mutually exclusive events, and joint probability.

You're reporting an error for "QT – Nov 2016 – L1 – Q1a – Probability"

QTB – May 2015 – L1 – SB – Q5a – Statistics

This question involves calculating the probabilities of various scenarios of success for two independent businesses using probability theory.

You're reporting an error for "QTB – May 2015 – L1 – SB – Q5a – Statistics"

QT – Nov 2016 – L1 – Q1b – Probability

This part focuses on calculating the probability of an ICAG-qualified individual and their spouse being selected for a position.

You're reporting an error for "QT – Nov 2016 – L1 – Q1b – Probability"

QT – Nov 2016 – L1 – Q1a – Probability

Explains key probability terms such as independent events, mutually exclusive events, and joint probability.

You're reporting an error for "QT – Nov 2016 – L1 – Q1a – Probability"

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