25 May Question 71) A production process is known to produce a par
Question
71) A production process is known to produce a particular item in such a way that 5 percent of these are defective. If two items are randomly selected as they come off the production line, what is the probability that the second item will be defective?
A) 0.05
B) 0.005
C) 0.18
D) 0.20
E) None of the above
72) A production process is known to produce a particular item in such a way that 5 percent of these are defective. If two items are randomly selected as they come off the production line, what is the probability that both are defective (assuming that they are independent)?
A) 0.0100
B) 0.1000
C) 0.2000
D) 0.0025
E) 0.0250
73) A company is considering producing some new Gameboy electronic games. Based on past records, management believes that there is a 70 percent chance that each of these will be successful and a 30 percent chance of failure. Market research may be used to revise these probabilities. In the past, the successful products were predicted to be successful based on market research 90 percent of the time. However, for products that failed, the market research predicted these would be successes 20 percent of the time. If market research is performed for a new product, what is the probability that the results indicate a successful market for the product and the product is actually not successful?
A) 0.63
B) 0.06
C) 0.07
D) 0.24
E) 0.27
74) A company is considering producing some new Gameboy electronic games. Based on past records, management believes that there is a 70 percent chance that each of these will be successful and a 30 percent chance of failure. Market research may be used to revise these probabilities. In the past, the successful products were predicted to be successful based on market research 90 percent of the time. However, for products that failed, the market research predicted these would be successes 20 percent of the time. If market research is performed for a new product, what is the probability that the results indicate an unsuccessful market for the product and the product is actually successful?
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