MGT340 Module 3- Solutions Focused Decision Making (Probability).DOC

MGT340 Module 3- Solutions Focused Decision Making (Probability)

MGT340 Solutions Focused Decision MakingModule 3

Assignment

1. Suppose you flip a fair coin three times .

a) How many outcomes are possible

b) What is the probability of each outcome?

c) What are the probabilities of each of the following number of heads coming up?

Number of HeadsProbability

3

2

1

0

2.M&Ms colors come in the following percentages:

13% brown, 14% yellow, 13% red, 24% blue, 20% orange, and 16% green.Reach into a bag of M&Ms without looking.

a)What's the chance that you pull out a brown or yellow M&M?

u

b)What's the chance that you won't pull out a blue?

3.Suppose an NBA player's free-throw shooting percentage is 70 percent.

a) Explain what this means as a probability.

b) What's wrong with thinking that his chances of making his next free throw are 50 - 50 (because he either makes it or he doesn't)?

 
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