Probability of Approval Ratings

The video tutorial covers calculating probabilities of independent events using Excel, with examples including the probability of getting 'bankrupt' or 'lose a turn' twice in a row, and the probability of survey responses regarding President Obama's approval rating. It also discusses the independence of survey responses and calculates the expected number of approvals in a sample of 100 people.

What is the probability of landing on 'bankrupt' or 'lose a turn' twice in a row?

• 0.015625

• 0.0625

• 0.125

• 0.25

Why are survey responses considered independent?

• Because surveyors call people in the same neighborhood

• Because surveyors call the same family members

• Because surveyors call a large number of people

• Because the chance of calling related people is slim

What is the probability that the first three people approve of President Obama?

• 0.15

• 0.24

• 0.62

• 0.38

How do you calculate the probability of the first three people approving and the last two not approving?

• Multiply 0.38 three times and 0.62 two times

• Add 0.62 and 0.38

• Add 0.62 three times and 0.38 two times

• Multiply 0.62 three times and 0.38 two times

What is the probability that the last two people do not approve?

• 0.62

• 0.24

• 0.15

• 0.38

What is the probability of the first person approving?

• 0.75

• 0.62

• 0.50

• 0.38

What is the probability of the second person approving?

• 0.50

• 0.62

• 0.75

• 0.38

What is the probability of the third person approving?

• 0.38

• 0.50

• 0.62

• 0.75

What is the probability of the fourth person not approving?

• 0.62

• 0.75

• 0.38

• 0.50

How many people would you expect to approve out of 100?

• 62

• 38

• 75

• 50