Two students are working independently on a problem. Their respectiv.pdf

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Two students are working independently on a problem. Their respective probabilities of solving the problem are 1/3 and 3/4. What is the probability that at least one of them will solve the problem? Solution probability of both of them solving the problem = 1/3 * 3/4 =3/12=1/4 probability of atleast one of them solving the problem = 1/3 + 3/4 - 1/4 = 5/6.

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two thousand frequent midwestern business travelers are asked which midwesterm they prefer: indianapolis, sanit louis, chicago or milwaukee. the results were 100 liked indianapolis best, 450 liked saint louis, 1300 liked chicago, and the remainder preferred milwaukee. develop a frequency table and a relative frequenncy table to summarize this information. Solution frequency table : indianapolis - 0.054 saintlouis - 0.2432 chicago - 0.7027 relative frequency table: indianapolis -1 saintlouis -4.5 chicago -13.

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Two students, Ryan Wattenberg and Emma Bennett, are discussing the idea of convergence over coffee. Ryan considers convergence to be true in theory but impractical in the real world. He claims that most low-income developing countries are stuck in a cycle of poverty and so cannot catch up with developed countries. With increased globalization, Emma feels that the developing countries are growing and will converge with higher-income countries eventually. Zoey Smith, a friend of theirs, however thinks that the evidence on convergence is rather unclear. Despite the fact that developing countries are growing much faster than the developed countries, she thinks that they will not be able to catch up with the developed nations in the near future. Which of the following, if true, would strengthen Ryan\'s argument that developing countries will not catch up with developed countries? a. Most developed countries do not have similar resources endowments. b. Some of the fastest growing developing countries in the world also score well on many social indicators. c. Credit creation by the formal banking system in most developing countries has been falling or stagnant in the last five years. d. High population in developing countries, which for decades acted as a drag on growth, now forms a productive workforce. e. Most developed countries experienced a high degree of inequality in the initial phases of economic growth. Solution Ans = D The GDP growth rates of developing nations are on average more than those of developed nations.During the period 1965-99 , the average annual growth rate was 4.1 percent for the low- income nations, 4.2 percent for middle-income nations, and 3.2 percent for high-income nations . Does this imply that the developing nations would soon converge with the developed? Unfortunately, the growth patterns explained here do not imply that the world is on its path to “convergence\". Much faster population growth in most of the developing nations offsets the comparatively faster growth rates of GDP, leading to GDP per capita growth to be relatively low or perhaps even negative.Thus, the gap between the average GNP per capita between developing and developed nations has widened. During the past 40 years of the 20th century, the gulf between the average income of the richest 20 nations and that of the poorest 20 has doubled in size. Sustained economic growth of the developing nations is an essential instrument for reducing poverty and enhancing people’s standard of living. However, only economic growth is not enough. In few nations poverty worsened in spite of the overall economic growth, due to increased income inequality . This economic growth is socially unsustainable and causes social conflict, and is harmful to further growth. Also, fast economic growth may lead to fast environmental degradation, hampering the quality of life and thus decreasing economic productivity..

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Two students independently attempt to solve a certain problem. The probability that A solves it is 1/10 and the probability that B solves it is 1/3. What is the probability that the problem will be solved? Solution Probability of A = 1/2 Probability of B = 1/2 Probability that A can solve the problem= 1/10 probability that B can solve the problem = 1/3 P(Problem will be solved)= (1/2)*(1/10)+(1/2)*(1/3) = 13/60 =0.2167.

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