# Project #77104 - Statistics

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Company A decides to sell one of its office buildings. It immediately receives an offer from another company (Company B) for Â£150,000. The company director of Company A knows that if she declines the offer and keeps the building on the market for another 30 days, then there is a 60% chance that she will receive an offer of Â£250,000. If she hires an estate agent, the agent will charge a fee of Â£12,500 in commission. An estate agent will have a 90% chance of selling the building for Â£250,000 in 30 days. The company director is told that the company will accrue extra costs of Â£5000 if she waits for 30 days to sell the building.
(8 Marks)

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1. What should the company director do?

2. Â Discuss the assumptions which you made when you answered part a).

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A coffeeshop has 14 students in it. Of these 14 students, 10 are from the Economics department. One of the students leaves and goes to the library. The library had 25 students in it, not including the one who just came in. Of these 25, 5 are Economics students. After half an hour, a student leaves the library and goes back towards the coffee shop.
What is the probability that this person is an Economics student?
(15 Marks)

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A painter and decorator charges Â£10 per hour and takes 3 hours to paint a large room. If the landlord paints the room herself, it will take her Â£4 hours. She has to make a decision and asks your advice.
What would you recommend?

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(10 marks)

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 Subject Mathematics Due By (Pacific Time) 07/30/2015 12:00 am
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