Please All questions should be done in Excel.

1. Which probability assessment method was used in each of the following examples: empirical theoreticalor subjective ?

A. An insurance company analyses past automobile claims and assesses the probability of a male driver aged 18-25 making a claim to be 0.32 in any given year

b. An economist assesses the probability of the interest rate decreasing in a certain situation to be 0.5

C. One door prize is given to a randomly selected person attending an event. There are 50 people attending the event. An attendee assesses the probability that he or she will get the prize is 0.02.

2. At your school, 14\% of the class are marketing majors. If you are randomly assigned to partners in your statistics class,

a) What is the probability that the first partner will be a marketing major?

b) What is the probability that the first partner won't be a marketing major?

c) What is the probability that both will be marketing majors?

d) What is the probability that one or the other will be marketing majors?

3. Real estate ads suggest that 62% of homes for sale have garages, 27% have swimming pools, and 13 % have both features What is the probability that a home for sale has:

a) A pool or a garage ?

b) Neither a pool nor a garage ?

c) A pool but no garage ?