Solution Found!
Which events are independent? Use your intuitive
Chapter 3, Problem 114SE(choose chapter or problem)
Which events are independent? Use your intuitive understanding of independence to form an opinion about whether each of the following scenarios represents independent events.
a. The results of consecutive tosses of a coin
b. The opinions of randomly selected individuals in a preelection poll
c. A Major League Baseball player’s results in two consecutive at-bats
d. The amount of gain or loss associated with investments in different stocks if these stocks are bought on the same day and sold on the same day 1 month later
e. The amount of gain or loss associated with investments in different stocks that are bought and sold in different time periods, 5 years apart
f. The prices bid by two different development firms in response to a building construction proposal
Questions & Answers
QUESTION:
Which events are independent? Use your intuitive understanding of independence to form an opinion about whether each of the following scenarios represents independent events.
a. The results of consecutive tosses of a coin
b. The opinions of randomly selected individuals in a preelection poll
c. A Major League Baseball player’s results in two consecutive at-bats
d. The amount of gain or loss associated with investments in different stocks if these stocks are bought on the same day and sold on the same day 1 month later
e. The amount of gain or loss associated with investments in different stocks that are bought and sold in different time periods, 5 years apart
f. The prices bid by two different development firms in response to a building construction proposal
ANSWER:Step 1 of 6
a) Two events are independent if the occurrence of one event does not effect the probability of the other even. Since the results of one coin toss do not effect the results of another coin toss, the events are independent.