Question 1

If two events are collectively exhaustive,what is the probability that one or the other occurs?

Accepted Answer

A)  0.00 
B)  0.50 
C)  1.00 
D)  Cannot be determined from the information given. 
A)  0.00 
B)  0.50 
C)  1.00 
D)  Cannot be determined from the information given.

Question 2

College Professorship
A Ph.D.graduate has applied for a job with two colleges: A and B.The graduate feels that she has a 60% chance of receiving an offer from college A and a 50% chance of receiving an offer from college B.If she receives an offer from college B,she believes that she has an 80% chance of receiving an offer from college A.Let A = receiving an offer from college A,and let B = receiving an offer from college B.
-{College Professorship Narrative} If she receives an offer from college B,what is the probability that she will not receive an offer from college A?

Accepted Answer

The answer of College Professorship
A Ph.D.graduate has applied for a...

Question 3

{Marital Status Narrative} Are gender and marital status mutually exclusive? Explain using probabilities.

Accepted Answer

No,since P(female an

Question 4

If A and B are independent events with P(A)= 0.60 and P(B)= 0.70,then P(A or B)equals:

Accepted Answer

A)  1.30 
B)  0.88 
C)  0.42 
D)  Cannot tell from the given information. 
A)  1.30 
B)  0.88 
C)  0.42 
D)  Cannot tell from the given information.

Question 5

Business Majors
Suppose 30% of business majors major in accounting.You take a random sample of 3 business majors.
-{Business Majors Narrative} What is the chance that they all major in accounting?

Accepted Answer

The answer of Business Majors
Suppose 30% of business majors major...

Question 6

Drunk Drivers
Six hundred accidents that occurred on a Saturday night were analyzed.Two items noted were the number of vehicles involved and whether alcohol played a role in the accident.The numbers are shown below:
 $$\begin{array}{l}
\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Number of Vehieles Involved }\
\begin{array} { | l | c c c | c | } 
\hline \text { Did aloholplay a role? } & 1 & 2 & 3 & \text { Totals } \
\hline \text { Yes } & 75 & 125 & 50 & 250 \
\text { Na } & 50 & 225 & 75 & 350 \
\hline \text { Totals } & 125 & 350 & 125 & 600 \
\hline
\end{array}
\end{array}$$
-{Drunk Drivers Narrative} If multiple vehicles were involved,what proportion of accidents involved alcohol?

Accepted Answer

The answer of Drunk Drivers
Six hundred accidents that occurred on...

Question 7

Cars
Suppose X = the number of cars owned by a family in the U.S.The probability distribution of X is shown in the table below.
 $\begin{array}{|l|c|c|c|c|}
\hline X & 0 & 1 & 2 & 3 \
\hline \text { Probability } & 0.56 & 0.23 & 0.12 & 0.09 \
\hline
\end{array}$ 
-{Car Narrative}What is the chance that a family owns more than one car?

Accepted Answer

A)  0.23 
B)  0.21 
C)  0.44 
D)  None of these choices. 
A)  0.23 
B)  0.21 
C)  0.44 
D)  None of these choices.

Question 8

If P(A)= 0.65,P(B)= 0.58,and P(A and B)= 0.76,then P(A or B)is:

Accepted Answer

A)  1.23 
B)  0.47 
C)  0.18 
D)  0.11 
A)  1.23 
B)  0.47 
C)  0.18 
D)  0.11

Question 9

If P(A)= 0.65,P(B)= 0.58,and P(A and B)= 0.76,then P(A or B)is:

Accepted Answer

A)  1.23 
B)  0.47 
C)  0.24 
D)  None of these choices. 
A)  1.23 
B)  0.47 
C)  0.24 
D)  None of these choices.

Question 10

There are ____________________ requirements of probabilities for the outcomes of a sample space.

Accepted Answer

The answer of There are ____________________ requirements of probabilities for...

Question 11

Condo Sales and Interest Rates
The probability that condo sales will increase in the next 6 months is estimated to be 0.30.The probability that the interest rates on condo loans will go up in the same period is estimated to be 0.75.The probability that condo sales or interest rates will go up during the next 6 months is estimated to be 0.90.
-Prior probability of an event is the probability of the event before any information affecting it is given.

Accepted Answer

A) True 
 B)False

Question 12

If A and B are mutually exclusive events with P(A)= 0.75,then P(B):

Accepted Answer

A)  can be any value between 0 and 1. 
B)  can be any value between 0 and 0.75. 
C)  cannot be larger than 0.25. 
D)  equals 0.25. 
A)  can be any value between 0 and 1. 
B)  can be any value between 0 and 0.75. 
C)  cannot be larger than 0.25. 
D)  equals 0.25.

Question 13

Equity Loan Rates
A survey of banks estimated the following probabilities for the interest rate being charged on a equity loan based on a 30-year loan,based on past records.
 $$\begin{array} { | l | c c c c c | } 
\hline \text { Interest Rate } & 0.0 \% & 6.5 \% & 7.0 \% & 7.5 \% & > 7.5 \% \
\hline \text { Probability } & 0.20 & 0.23 & 0.25 & 0.28 & .04 \
\hline
\end{array}$$
-The union of events A and B is the event that occurs when either A or B occurs but not both.

Accepted Answer

A) True 
 B)False

Question 14

Bayes' Law is used to compute:

Accepted Answer

A)  prior probabilities. 
B)  joint probabilities. 
C)  union probabilities. 
D)  posterior probabilities. 
A)  prior probabilities. 
B)  joint probabilities. 
C)  union probabilities. 
D)  posterior probabilities.

Question 15

Mutual Fund Price
An investor estimates that there is a 75% chance that a particular mutual fund's price will increase to $100 per share over the next three weeks,based on past data.
-{Mutual Fund Price Narrative} Which approach was used to produce this figure?

Accepted Answer

The relati

Question 16

Drunk Drivers
Six hundred accidents that occurred on a Saturday night were analyzed.Two items noted were the number of vehicles involved and whether alcohol played a role in the accident.The numbers are shown below:
 $$\begin{array}{l}
\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\text { Number of Vehieles Involved }\
\begin{array} { | l | c c c | c | } 
\hline \text { Did aloholplay a role? } & 1 & 2 & 3 & \text { Totals } \
\hline \text { Yes } & 75 & 125 & 50 & 250 \
\text { Na } & 50 & 225 & 75 & 350 \
\hline \text { Totals } & 125 & 350 & 125 & 600 \
\hline
\end{array}
\end{array}$$
-{Drunk Drivers Narrative} Given alcohol was involved,what proportion of accidents involved a single vehicle?

Accepted Answer

The answer of Drunk Drivers
Six hundred accidents that occurred on...

Question 17

If A and B are independent events with P(A)= 0.60 and P(A|B)= 0.60,then P(B)is:

Accepted Answer

A)  1.20 
B)  0.60 
C)  0.36 
D)  cannot be determined with the information given 
A)  1.20 
B)  0.60 
C)  0.36 
D)  cannot be determined with the information given

Question 18

College Professorship
A Ph.D.graduate has applied for a job with two colleges: A and B.The graduate feels that she has a 60% chance of receiving an offer from college A and a 50% chance of receiving an offer from college B.If she receives an offer from college B,she believes that she has an 80% chance of receiving an offer from college A.Let A = receiving an offer from college A,and let B = receiving an offer from college B.
-{College Professorship Narrative} What is the probability that both colleges will make her an offer?

Accepted Answer

The answer of College Professorship
A Ph.D.graduate has applied for a...

Question 19

Bayes' Law involves three different types of probabilities: 1)prior probabilities;2)likelihood probabilities;and 3)____________________ probabilities.

Accepted Answer

The answer of Bayes' Law involves three different types of...

Question 20

Cysts
After researching cysts of a particular type,a doctor learns that out of 10,000 such cysts examined,1,500 are malignant and 8,500 are benign.A diagnostic test is available which is accurate 80% of the time (whether the cyst is malignant or not).The doctor has discovered the same type of cyst in a patient.
-{Cysts Narrative} What is the probability that the patient will test positive?

Accepted Answer

\[\begin{aligned}
P ( + ) & =

If two events are collectively exhaustive,what is the probability that one or the other occurs?

{Marital Status Narrative} Are gender and marital status mutually exclusive? Explain using probabilities.

If A and B are independent events with P(A)= 0.60 and P(B)= 0.70,then P(A or B)equals:

Business Majors Suppose 30% of business majors major in accounting.You take a random sample of 3 business majors. -{Business Majors Narrative} What is the chance that they all major in accounting?

Cars Suppose X = the number of cars owned by a family in the U.S.The probability distribution of X is shown in the table below. X 0 1 2 3 Probability 0.56 0.23 0.12 0.09 -{Car Narrative}What is the chance that a family owns more than one car?

If P(A)= 0.65,P(B)= 0.58,and P(A and B)= 0.76,then P(A or B)is:

If P(A)= 0.65,P(B)= 0.58,and P(A and B)= 0.76,then P(A or B)is:

There are ____________________ requirements of probabilities for the outcomes of a sample space.

If A and B are mutually exclusive events with P(A)= 0.75,then P(B):

Bayes' Law is used to compute:

Mutual Fund Price An investor estimates that there is a 75% chance that a particular mutual fund's price will increase to $100 per share over the next three weeks,based on past data. -{Mutual Fund Price Narrative} Which approach was used to produce this figure?

If A and B are independent events with P(A)= 0.60 and P(A|B)= 0.60,then P(B)is:

Bayes' Law involves three different types of probabilities: 1)prior probabilities;2)likelihood probabilities;and 3)____________________ probabilities.

What Is Statistics

Graphical Descriptive Techniques I

Graphical Descriptive Techniques II

A: Numerical Descriptive Techniques

B: Numerical Descriptive Techniques

C: Numerical Descriptive Techniques

Data Collection and Sampling

A: Random Variables and Discrete Probability Distributions

B: Random Variables and Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Introduction to Estimation

Introduction to Hypothesis Testing

Inference About a Population

Inference About Comparing Two Populations

Analysis of Variance

Chi-Squared Tests

A: Simple Linear Regression and Correlation

B: Simple Linear Regression and Correlation

Multiple Regression

Model Building

Nonparametric Statistics

Time-Series Analysis and Forecasting

Statistical Process Control

Decision Analysis

Conclusion

Filters

Exam 6: Probability

If two events are collectively exhaustive,what is the probability that one or the other occurs?

{Marital Status Narrative} Are gender and marital status mutually exclusive? Explain using probabilities.

If A and B are independent events with P(A)= 0.60 and P(B)= 0.70,then P(A or B)equals:

Business Majors Suppose 30% of business majors major in accounting.You take a random sample of 3 business majors. -{Business Majors Narrative} What is the chance that they all major in accounting?

Cars Suppose X = the number of cars owned by a family in the U.S.The probability distribution of X is shown in the table below. X 0 1 2 3 Probability 0.56 0.23 0.12 0.09 -{Car Narrative}What is the chance that a family owns more than one car?

If P(A)= 0.65,P(B)= 0.58,and P(A and B)= 0.76,then P(A or B)is:

If P(A)= 0.65,P(B)= 0.58,and P(A and B)= 0.76,then P(A or B)is:

There are ____________________ requirements of probabilities for the outcomes of a sample space.

If A and B are mutually exclusive events with P(A)= 0.75,then P(B):

Bayes' Law is used to compute:

Mutual Fund Price An investor estimates that there is a 75% chance that a particular mutual fund's price will increase to $100 per share over the next three weeks,based on past data. -{Mutual Fund Price Narrative} Which approach was used to produce this figure?

If A and B are independent events with P(A)= 0.60 and P(A|B)= 0.60,then P(B)is:

Bayes' Law involves three different types of probabilities: 1)prior probabilities;2)likelihood probabilities;and 3)____________________ probabilities.

What Is Statistics

Graphical Descriptive Techniques I

Graphical Descriptive Techniques II

A: Numerical Descriptive Techniques

B: Numerical Descriptive Techniques

C: Numerical Descriptive Techniques

Data Collection and Sampling

A: Random Variables and Discrete Probability Distributions

B: Random Variables and Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Introduction to Estimation

Introduction to Hypothesis Testing

Inference About a Population

Inference About Comparing Two Populations

Analysis of Variance

Chi-Squared Tests

A: Simple Linear Regression and Correlation

B: Simple Linear Regression and Correlation

Multiple Regression

Model Building

Nonparametric Statistics

Time-Series Analysis and Forecasting

Statistical Process Control

Decision Analysis

Conclusion

Filters