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A survey of 34 students at the Wall College of Business showed the following majors:
Accounting 10
Finance 5
Economics 3
Management 6
Marketing 10
Suppose you select a student and observe his or her major.
(a) What is the probability he or she is a management major? (Round your answer to 3 decimal places.)
Probability (b) Which concept of probability did you use to make this estimate?
Empirical
Classical

Respuesta :

The probability he or she selects a management major is 0.176. This is estimated using empirical probability.

Probability is a branch of mathematics that deals with numerical probabilities of events. It is expressed in a range from 0 to 1, not below or above this range. The probability formula is P(E) = (number of favorable outcomes)÷(total number of outcomes).

a) Here, given the total number of outcomes is 34. The favorable outcome is 6. Therefore, the probability he or she selecting the management major is,

P(E)=6/34=0.176.

b) The empirical probability employs numerous trials to calculate likelihood using real observed frequencies. It is an experimental probability that is based on previous or past data.

In the given question, we used past data to estimate the probability. Therefore, it is empirical.

To know more about empirical probability:

https://brainly.com/question/15412351

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