Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the World Banks World Development Indicators there is a population of 214 countries. These countries can be broken down into income categories (from lowest

In the World Banks World Development Indicators there is a population of 214 countries. These countries can be broken down into income categories (from lowest income to highest income):

Income Category

Count

Low Income (LIC)

34

Lower Middle Income (LMC)

50

Upper Middle Income (UMC)

55

High Income (HIC)

75

Total

214

Assume that the World Bank wants to take a simple random sample, n = 10, of these countries for a poll on how satisfied countries are, overall, with the Banks work. Note that this sample will be without replacement, i.e. once a country is chosen, it is removed. For probabilities in this question, please show the math (fractions) you are using to solve the final probability. Please report your final answer for probabilities using three decimal places. PLEASE SHOW YOUR WORK.

a) What is the probability that a specific country will be included in the sample? (Hint: it may be easier to find this value by using the rule of complements.)

b) What is the probability that no HIC country will be included in the sample? What is the probability that at least one HIC will be included in the sample? (Note that these two outcomes are complements: none and at least one.)

c) What is the probability that no LIC countries will be included in the sample? What is the probability that at least one LIC will be included in the sample?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Calculus Of A Single Variable

Authors: Ron Larson, Bruce H. Edwards

11th Edition

978-1337275361, 9781337275361

More Books

Students also viewed these Mathematics questions