Question 1

The binomial distribution is a discrete distribution that deals with a sequence of identical trials,each of which have only two possible outcomes.

Accepted Answer

A) True 
 B)False

Question 2

Probability is a number between 0 and 1,inclusive,which measures the likelihood that some event will occur.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following best describes the concept of probability?

Accepted Answer

A) It is a measure of the likelihood that a particular event will occur. 
B) It is a measure of the likelihood that a particular event will occur,given that another event has already occurred. 
C) It is a measure of the likelihood of the simultaneous occurrence of two or more events. 
D) None of these choices describe the concept of probability. 
A) It is a measure of the likelihood that a particular event will occur. 
B) It is a measure of the likelihood that a particular event will occur,given that another event has already occurred. 
C) It is a measure of the likelihood of the simultaneous occurrence of two or more events. 
D) None of these choices describe the concept of probability.

Question 4

Which distribution is best-suited to measure the length of time between arrivals at a grocery checkout counter?

Accepted Answer

A) Uniform 
B) Normal 
C) Exponential 
D) Poisson 
A) Uniform 
B) Normal 
C) Exponential 
D) Poisson

Question 5

If A and B are mutually exclusive events with P(A)= 0.70,then P(B)

Accepted Answer

A) can be any value between 0 and 1. 
B) can be any value between 0 and 0.70. 
C) cannot be larger than 0.30. 
D) can be any value between 0.30 and 0.70. 
A) can be any value between 0 and 1. 
B) can be any value between 0 and 0.70. 
C) cannot be larger than 0.30. 
D) can be any value between 0.30 and 0.70.

Question 6

Two or more events are said to be mutually exclusive if at most one of them can occur.

Accepted Answer

A) True 
 B)False

Question 7

If X is a normal random variable with a standard deviation of 10,then 3X has a standard deviation equal to

Accepted Answer

A) 10. 
B) 13. 
C) 30. 
D) 90. 
A) 10. 
B) 13. 
C) 30. 
D) 90.

Question 8

The mean and standard deviation of a normally distributed random variable that has been "standardized" are zero and one,respectively.

Accepted Answer

A) True 
 B)False

Question 9

Suppose A and B are mutually exclusive events where P(A)= 0.3 and P(B)= 0.4.Then,P(A and B)= 0.12.

Accepted Answer

A) True 
 B)False

Question 10

Two events are said to be independent when knowledge of one event is of no value when assessing the probability of the other.

Accepted Answer

A) True 
 B)False

Question 11

The variance of a binomial distribution for which n = 50 and p = 0.20 is 8.0.

Accepted Answer

A) True 
 B)False

Question 12

You think you have a 90% chance of passing your statistics class.This is an example of subjective probability.

Accepted Answer

A) True 
 B)False

Question 13

The probabilities shown in a table with two rows,   and   and two columns,   and   ,are as follows: P(   and   )= 0.10,P(   and   )= 0.30,P(   and   )= 0.05,and P(   and   )= 0.55.Then P(   |   )is

Accepted Answer

A) 0.33. 
B) 0.35. 
C) 0.65. 
D) 0.67. 
A) 0.33. 
B) 0.35. 
C) 0.65. 
D) 0.67.

Question 14

Sampling done without replacement means that

Accepted Answer

A) only certain members of the population can be sampled. 
B) each member of the population can be sampled repeatedly. 
C) each member of the population can be sampled only once. 
D) each member of the population can be sampled twice. 
A) only certain members of the population can be sampled. 
B) each member of the population can be sampled repeatedly. 
C) each member of the population can be sampled only once. 
D) each member of the population can be sampled twice.

Question 15

If P(A and B)= 0,then A and B must be collectively exhaustive.

Accepted Answer

A) True 
 B)False

Question 16

If A and B are independent events with P(A)= 0.40 and P(B)= 0.50,then P(A/B)is 0.50.

Accepted Answer

A) True 
 B)False

Question 17

The formal way to revise probabilities based on new information is to use _____ probabilities.

Accepted Answer

A) complementary 
B) conditional 
C) unilateral 
D) common sense 
A) complementary 
B) conditional 
C) unilateral 
D) common sense

Question 18

If events A and B are mutually exclusive,then the probability of both events occurring simultaneously is equal to

Accepted Answer

A) 0.0. 
B) 0.5. 
C) 1.0. 
D) any value between 0.5 and 1.0. 
A) 0.0. 
B) 0.5. 
C) 1.0. 
D) any value between 0.5 and 1.0.

Question 19

The number of loan defaults per month at a bank is Poisson distributed.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) 0.25 
B) 0.50 
C) 1.00 
D) This cannot be determined from the information given. 
A) 0.25 
B) 0.50 
C) 1.00 
D) This cannot be determined from the information given.

The binomial distribution is a discrete distribution that deals with a sequence of identical trials,each of which have only two possible outcomes.

Probability is a number between 0 and 1,inclusive,which measures the likelihood that some event will occur.

Which of the following best describes the concept of probability?

Which distribution is best-suited to measure the length of time between arrivals at a grocery checkout counter?

If A and B are mutually exclusive events with P(A)= 0.70,then P(B)

Two or more events are said to be mutually exclusive if at most one of them can occur.

If X is a normal random variable with a standard deviation of 10,then 3X has a standard deviation equal to

The mean and standard deviation of a normally distributed random variable that has been "standardized" are zero and one,respectively.

Suppose A and B are mutually exclusive events where P(A)= 0.3 and P(B)= 0.4.Then,P(A and B)= 0.12.

Two events are said to be independent when knowledge of one event is of no value when assessing the probability of the other.

The variance of a binomial distribution for which n = 50 and p = 0.20 is 8.0.

You think you have a 90% chance of passing your statistics class.This is an example of subjective probability.

The probabilities shown in a table with two rows, and and two columns, and ,are as follows: P( and )= 0.10,P( and )= 0.30,P( and )= 0.05,and P( and )= 0.55.Then P( | )is

Sampling done without replacement means that

If P(A and B)= 0,then A and B must be collectively exhaustive.

If A and B are independent events with P(A)= 0.40 and P(B)= 0.50,then P(A/B)is 0.50.

The formal way to revise probabilities based on new information is to use _____ probabilities.

If events A and B are mutually exclusive,then the probability of both events occurring simultaneously is equal to

The number of loan defaults per month at a bank is Poisson distributed.

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

Introduction to Business Analytics

Describing the Distribution of a Variable

Finding Relationships Among Variables

Business Intelligence Bifor Data Analysis

Decision Making Under Uncertainty

Sampling and Sampling Distributions

Confidence Interval Estimation

Hypothesis Testing

Regression Analysis: Estimating Relationships

Regression Analysis: Statistical Inference

Time Series Analysis and Forecasting

Introduction to Optimization Modeling

Optimization Models

Introduction to Simulation Modeling

Simulation Models

Data Mining

Analysis of Variance and Experimental Design

Statistical Process Control

Filters

Exam 5: Probability and Probability Distributions

The binomial distribution is a discrete distribution that deals with a sequence of identical trials,each of which have only two possible outcomes.

Probability is a number between 0 and 1,inclusive,which measures the likelihood that some event will occur.

Which of the following best describes the concept of probability?

Which distribution is best-suited to measure the length of time between arrivals at a grocery checkout counter?

If A and B are mutually exclusive events with P(A)= 0.70,then P(B)

Two or more events are said to be mutually exclusive if at most one of them can occur.

If X is a normal random variable with a standard deviation of 10,then 3X has a standard deviation equal to

The mean and standard deviation of a normally distributed random variable that has been "standardized" are zero and one,respectively.

Suppose A and B are mutually exclusive events where P(A)= 0.3 and P(B)= 0.4.Then,P(A and B)= 0.12.

Two events are said to be independent when knowledge of one event is of no value when assessing the probability of the other.

The variance of a binomial distribution for which n = 50 and p = 0.20 is 8.0.

You think you have a 90% chance of passing your statistics class.This is an example of subjective probability.

The probabilities shown in a table with two rows, and and two columns, and ,are as follows: P( and )= 0.10,P( and )= 0.30,P( and )= 0.05,and P( and )= 0.55.Then P( | )is

Sampling done without replacement means that

If P(A and B)= 0,then A and B must be collectively exhaustive.

If A and B are independent events with P(A)= 0.40 and P(B)= 0.50,then P(A/B)is 0.50.

The formal way to revise probabilities based on new information is to use _____ probabilities.

If events A and B are mutually exclusive,then the probability of both events occurring simultaneously is equal to

The number of loan defaults per month at a bank is Poisson distributed.

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

Introduction to Business Analytics

Describing the Distribution of a Variable

Finding Relationships Among Variables

Business Intelligence Bifor Data Analysis

Decision Making Under Uncertainty

Sampling and Sampling Distributions

Confidence Interval Estimation

Hypothesis Testing

Regression Analysis: Estimating Relationships

Regression Analysis: Statistical Inference

Time Series Analysis and Forecasting

Introduction to Optimization Modeling

Optimization Models

Introduction to Simulation Modeling

Simulation Models

Data Mining

Analysis of Variance and Experimental Design

Statistical Process Control

Filters