Question 1

If A and B are ____________________ then the probability of the union of A and B is the sum of their individual probabilities.

Accepted Answer

The answer of If A and B are ____________________ then...

Question 2

If A and B are any two events with P(A)= .8 and P(B|A)= .4,then P(A and B)is:

Accepted Answer

A)  .40 
B)  .32 
C)  1.20 
D)  None of these choices. 
A)  .40 
B)  .32 
C)  1.20 
D)  None of these choices.

Question 3

If you roll a balanced die 50 times,you should expect an even number to appear:

Accepted Answer

A)  on every other roll. 
B)  exactly 50 times out of 100 rolls. 
C)  25 times on average,over the long term. 
D)  All of these choices are true. 
A)  on every other roll. 
B)  exactly 50 times out of 100 rolls. 
C)  25 times on average,over the long term. 
D)  All of these choices are true.

Question 4

If two events are mutually exclusive,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 5

Messenger Service
Three messenger services deliver to a small town in Oregon.Service A has 60% of all the scheduled deliveries,service B has 30%,and service C has the remaining 10%.Their on-time rates are 80%,60%,and 40% respectively.Define event O as a service delivers a package on time.
-{Messenger Service Narrative} If a package was delivered on time,what is the probability that it was service B?

Accepted Answer

P(B|O)= P(

Question 6

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 none of them major in accounting?

Accepted Answer

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

Question 7

Julius and Gabe go to a show during their Spring break and toss a balanced coin to see who will pay for the tickets.The probability that Gabe will pay three days in a row is 0.125.

Accepted Answer

A) True 
 B)False

Question 8

Club Members
A survey of a club's members indicates that 50% own a home,80% own a car,and 90% of the homeowners who subscribe also own a car.
-{Club Members Narrative} What is the probability that a club member owns neither a car nor a house?

Accepted Answer

The answer of Club Members
A survey of a club's members...

Question 9

If two events are complements,their probabilities sum to ____________________.

Accepted Answer

The answer of If two events are complements,their probabilities sum...

Question 10

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.
-Bayes' Law is a formula for revising an initial subjective (prior)probability value on the basis of new results,thus obtaining a new (posterior)probability value.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

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

Question 12

Two events A and B are said to be mutually exclusive if P(A and B)= 1.0.

Accepted Answer

A) True 
 B)False

Question 13

Two events A and B are said to be independent if P(A|B)= P(B).

Accepted Answer

A) True 
 B)False

Question 14

Financial Consultants
A Financial Consultant has classified his clients according to their gender and the composition of their investment portfolio (primarily bonds,primarily stocks,or a balanced mix of bonds and stocks).The proportions of clients falling into the various categories are shown in the following table:
 $$\begin{array}{l}
\quad\quad\quad\quad\quad\text { Portfolio Composition }\
\begin{array} { | l | c c c | } 
\hline \text { Gander } & \text { Bonds } & \text { Stocks } & \text { Balanced } \
\hline \text { Male } & 0.18 & 0.20 & 0.25 \
\text { Female } & 0.12 & 0.10 & 0.15 \
\hline
\end{array}
\end{array}$$ One client is selected at random,and two events A and B are defined as follows:
A: The client selected is male.
B: The client selected has a balanced portfolio.
-{Financial Consultants Narrative} Find P(A and B).

Accepted Answer

The answer of Financial Consultants
A Financial Consultant has classified his...

Question 15

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 intersection of events A and B is the event that occurs when:

Accepted Answer

A)  either A or B occurs but not both 
B)  neither A nor B occur 
C)  both A and B occur 
D)  All of these choices are true. 
A)  either A or B occurs but not both 
B)  neither A nor B occur 
C)  both A and B occur 
D)  All of these choices are true.

Question 16

Suppose P(A)= 0.30.The probability of the complement of A is:

Accepted Answer

A)  0.30 
B)  0.70 
C) -0.30 
D)  None of these choices. 
A)  0.30 
B)  0.70 
C) -0.30 
D)  None of these choices.

Question 17

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} What proportion of accidents involved more than one vehicle?

Accepted Answer

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

Question 18

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.
-Conditional probabilities are also called likelihood probabilities.

Accepted Answer

A) True 
 B)False

Question 19

The collection of all possible outcomes of an experiment is called:

Accepted Answer

A)  a simple event 
B)  a sample space 
C)  a sample 
D)  a population 
A)  a simple event 
B)  a sample space 
C)  a sample 
D)  a population

Question 20

If two events are mutually exclusive their joint probability is ____________________.

Accepted Answer

The answer of If two events are mutually exclusive their...

Exam 6: Probability

If A and B are ____________________ then the probability of the union of A and B is the sum of their individual probabilities.

If A and B are any two events with P(A)= .8 and P(B|A)= .4,then P(A and B)is:

If you roll a balanced die 50 times,you should expect an even number to appear:

If two events are mutually exclusive,what is the probability that one or the other occurs?

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 none of them major in accounting?

Julius and Gabe go to a show during their Spring break and toss a balanced coin to see who will pay for the tickets.The probability that Gabe will pay three days in a row is 0.125.

Club Members A survey of a club's members indicates that 50% own a home,80% own a car,and 90% of the homeowners who subscribe also own a car. -{Club Members Narrative} What is the probability that a club member owns neither a car nor a house?

If two events are complements,their probabilities sum to ____________________.

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

Two events A and B are said to be mutually exclusive if P(A and B)= 1.0.

Two events A and B are said to be independent if P(A|B)= P(B).

Suppose P(A)= 0.30.The probability of the complement of A is:

The collection of all possible outcomes of an experiment is called:

If two events are mutually exclusive their joint probability is ____________________.

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

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