The carnival is in town, and you want to impress your friend…

The carnival is in town, and you want to impress your friends by playing the “pop a balloon” game. For $1, you throw one dart. If you pop a balloon, you win a prize depending on the color of the balloon; if you don’t pop a balloon, you can play again!  Provide your numerical answers to 3 decimal places. a.  Using the classical method of probability assignment, define the possible outcomes and provide a numerical probability for each outcome.   [classical] b.  Using the relative frequency or empirical method, what is the probability of popping a YELLOW  balloon?      [RF] c.  Using the subjective method, what is the probability of YOU (yes, specifically YOU) popping the PINK balloon in the bottom row to the left, AND WHY that probability?        [Subj]

A population census of business students at Evashevski Unive…

A population census of business students at Evashevski University resulted in the following data regarding whether the student came from in-state or out of state, and their selected majors.  Accounting Economics  Sales   In-state  30 46 40  Out of state 22 34 28 (Provide all answers to 2 decimal places) (1) What is the probability of a student majoring in Accounting?  [mgmt] (2) What is the probability of a student being from in-state or an Economics major?  [InMktg] (3) What is the probability of an out of state student and a Sales major?  [OutFin] (4) The Accounting department is trying to increase enrollment from out of state students by providing tuition stipends; given that a student is from out of state, what is the probability the student is majoring in Accounting?    [MgmtGOut] (5) Forty-six (46) high school students have been accepted into the incoming class of business students next year.  Use statistical inference to predict the number of in-state students majoring in Sales next year.  [SI] ​