Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 3 What is the probability that a randomly selected company was awarded a credit rating of either A or C? O a- 0.27 O

image text in transcribedimage text in transcribed
image text in transcribedimage text in transcribed
QUESTION 3 What is the probability that a randomly selected company was awarded a credit rating of either A or C? O a- 0.27 O b- 0.61 O C. 0.66 O d-0.73 QUESTION 4 A company was randomly selected and found to be profitable in the last fiscal year. Given this information, what is the probability that the company had a credit rating of C? O a- 0.256 O b- 0.250 O C. 0.137 O d- 0.233 QUESTION 5 Of the 600 companies surveyed, how many must have been unprofitable in order to arrive at the probabilities listed in the table above? O a- 132 O b- 162 O C. 396 d- 120Six hundred companies whose stocks are traded on the London Stock Exchange were researched. Each company was given a credit rating of either A, B or C. Also, each company was classified based on whether or not it was profitable in the last fiscal year. Based on the relative frequencies of the data, the following probability table was constructed. Use this table to answer Questions 1 to 5. Credit rating A Unprofitable B 0.04 C Total Profitable 0.09 0.3: 0.07 Total x 0.20 0.39 0.20 0.34 0.80 0.27

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

Algebra And Trigonometry (Subscription)

Authors: Michael Sullivan, Michael Sullivan III

11th Edition

0135227712, 9780135227718

More Books

Students also viewed these Mathematics questions

Question

Purpose: What do we seek to achieve with our behaviour?

Answered: 1 week ago

Question

An action plan is prepared.

Answered: 1 week ago