Question 1

Two events A and B are said to be mutually exclusive if:

Accepted Answer

A)  P(A|
B)  = 1 
B)  P(A|
B)  = P(
A)  
C)  P(A and 
B)  =1 
D)  P(A and 
B)  = 0 
A)  P(A|
B)  = 1 
B)  P(A|
B)  = P(
A)  
C)  P(A and 
B)  =1 
D)  P(A and 
B)  = 0

Question 2

You think you have a 90% chance of passing your next advanced financial accounting exam.This is an example of subjective approach to probability.

Accepted Answer

A) True 
 B)False

Question 3

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} Calculate P(C and O).

Accepted Answer

P(C and O)

Question 4

Suppose the probability that a person owns both a cat and a dog is 0.10.Also suppose the probability that a person owns a cat but not a dog is 0.20.The marginal probability that someone owns a cat is 0.30.

Accepted Answer

A) True 
 B)False

Question 5

Of the last 500 customers entering a supermarket, 50 have purchased a wireless phone.If the relative frequency approach for assigning probabilities is used, the probability that the next customer will purchase a wireless phone is

Accepted Answer

A)  0.10 
B)  0.90 
C)  0.50 
D)  None of these choices. 
A)  0.10 
B)  0.90 
C)  0.50 
D)  None of these choices.

Question 6

Which of the following is equivalent to P(A|B)?

Accepted Answer

A)  P(A and 
B)  
B)  P(B|
A)  
C)  P(
A) /P(
B)  
D)  None of these choices. 
A)  P(A and 
B)  
B)  P(B|
A)  
C)  P(
A) /P(
B)  
D)  None of these choices.

Question 7

Which of the following statements is always correct?

Accepted Answer

A)  P(A and 
B)  = P(
A)  * P(
B)  
B)  P(A or 
B)  = P(
A)  + P(
B)  
C)  P(
A)  = 1- P(Ac) 
D)  None of these choices. 
A)  P(A and 
B)  = P(
A)  * P(
B)  
B)  P(A or 
B)  = P(
A)  + P(
B)  
C)  P(
A)  = 1- P(Ac) 
D)  None of these choices.

Question 8

In the scenario of Bayes' Law, P(A|B) is a(n) ____________________ probability, while P(B|A) is a posterior probability.

Accepted Answer

The answer of In the scenario of Bayes' Law, P(A|B)...

Question 9

In general, a posterior probability is calculated by adding the prior and likelihood probabilities.

Accepted Answer

A) True 
 B)False

Question 10

If P(B) = .7 and P(A|B) = .7, then P(A and B) = 0.

Accepted Answer

A) True 
 B)False

Question 11

The conditional probability of event B given event A is denoted by P(A|B).

Accepted Answer

A) True 
 B)False

Question 12

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 13

Predicting the outcome of a football game is using the subjective approach to probability.

Accepted Answer

A) True 
 B)False

Question 14

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 15

Suppose P(A) = 0.60, P(B) = 0.85, and A and B are independent.The probability of the complement of the event (A and B) is:

Accepted Answer

A)  .4 * .15 = .060 
B)  0.40 + .15 = .55 
C)  1 -(.40 + .15) = .45 
D)  1- (.6 *10 .85) = .490 
A)  .4 * .15 = .060 
B)  0.40 + .15 = .55 
C)  1 -(.40 + .15) = .45 
D)  1- (.6 *10 .85) = .490

Question 16

If A and B are independent, then P(A|B) = P(A) or P(B|A) = P(B).

Accepted Answer

A) True 
 B)False

Question 17

If events A and B are mutually exclusive and collectively exhaustive, what is the probability that event A occurs?

Accepted Answer

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

Question 18

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 19

Marital Status
An insurance company has collected the following data on the gender and marital status of 570 customers.
   Suppose that a customer is selected at random.
-{Marital Status Narrative} Find the probability that the customer selected is a married female.

Accepted Answer

The answer of Marital Status
An insurance company has collected the...

Question 20

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} Calculate the probability that a package was delivered on time.

Accepted Answer

P(O) = P(A and O) +

Two events A and B are said to be mutually exclusive if:

You think you have a 90% chance of passing your next advanced financial accounting exam.This is an example of subjective approach to probability.

Suppose the probability that a person owns both a cat and a dog is 0.10.Also suppose the probability that a person owns a cat but not a dog is 0.20.The marginal probability that someone owns a cat is 0.30.

Of the last 500 customers entering a supermarket, 50 have purchased a wireless phone.If the relative frequency approach for assigning probabilities is used, the probability that the next customer will purchase a wireless phone is

Which of the following is equivalent to P(A|B)?

Which of the following statements is always correct?

In the scenario of Bayes' Law, P(A|B) is a(n) ____________________ probability, while P(B|A) is a posterior probability.

In general, a posterior probability is calculated by adding the prior and likelihood probabilities.

If P(B) = .7 and P(A|B) = .7, then P(A and B) = 0.

The conditional probability of event B given event A is denoted by P(A|B).

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

Predicting the outcome of a football game is using the subjective approach to probability.

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.

Suppose P(A) = 0.60, P(B) = 0.85, and A and B are independent.The probability of the complement of the event (A and B) is:

If A and B are independent, then P(A|B) = P(A) or P(B|A) = P(B).

If events A and B are mutually exclusive and collectively exhaustive, what is the probability that event A occurs?

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

Marital Status An insurance company has collected the following data on the gender and marital status of 570 customers. Suppose that a customer is selected at random. -{Marital Status Narrative} Find the probability that the customer selected is a married female.

What Is Statistics

Graphical Descriptive Techniques I

Graphical Descriptive Techniques II

Numerical Descriptive Techniques

Data Collection and Sampling

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

Simple Linear Regression and Correlation

Multiple Regression

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Exam 6: Probability

Two events A and B are said to be mutually exclusive if:

You think you have a 90% chance of passing your next advanced financial accounting exam.This is an example of subjective approach to probability.

Suppose the probability that a person owns both a cat and a dog is 0.10.Also suppose the probability that a person owns a cat but not a dog is 0.20.The marginal probability that someone owns a cat is 0.30.

Of the last 500 customers entering a supermarket, 50 have purchased a wireless phone.If the relative frequency approach for assigning probabilities is used, the probability that the next customer will purchase a wireless phone is

Which of the following is equivalent to P(A|B)?

Which of the following statements is always correct?

In the scenario of Bayes' Law, P(A|B) is a(n) ____________________ probability, while P(B|A) is a posterior probability.

In general, a posterior probability is calculated by adding the prior and likelihood probabilities.

If P(B) = .7 and P(A|B) = .7, then P(A and B) = 0.

The conditional probability of event B given event A is denoted by P(A|B).

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

Predicting the outcome of a football game is using the subjective approach to probability.

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.

Suppose P(A) = 0.60, P(B) = 0.85, and A and B are independent.The probability of the complement of the event (A and B) is:

If A and B are independent, then P(A|B) = P(A) or P(B|A) = P(B).

If events A and B are mutually exclusive and collectively exhaustive, what is the probability that event A occurs?

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

Marital Status An insurance company has collected the following data on the gender and marital status of 570 customers. Suppose that a customer is selected at random. -{Marital Status Narrative} Find the probability that the customer selected is a married female.

What Is Statistics

Graphical Descriptive Techniques I

Graphical Descriptive Techniques II

Numerical Descriptive Techniques

Data Collection and Sampling

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

Simple Linear Regression and Correlation

Multiple Regression

Filters