Exam 5: Probability Distributions and Data Modeling
Exam 1: Introduction to Business Analytics50 Questions
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Exam 5: Probability Distributions and Data Modeling50 Questions
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Use the data given below to answer the following question(s).
15 students were asked to choose between the broad categories of Arts, Science, and Math as their preferred area of study.
Respondent Gender Preference 1 Female Art.s 2 Male Science 3 Male Math 4 Female Art.s 5 Female Math 6 Male Science 7 Male Math 8 Male Math 9 Female Art.s 10 Male Art.s 11 Male Science 12 Female Science 13 Female Math 14 Male Art.s 15 Female Art.s
-What is the probability that a respondent is male and prefers Arts given that the respondent is male?
(Multiple Choice)
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Which of the following characterizes a continuous random variable for which all outcomes between some minimum and maximum value are equally likely?
(Multiple Choice)
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Which of the following formulas will compute the variance of a discrete random variable X?
(Multiple Choice)
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The beta distribution is a function of three parameters, the minimum, a; maximum, b; and most likely, c.
(True/False)
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Which of the following distributions is appropriate when the probability of zero is very low, but the most likely value is just greater than zero?
(Multiple Choice)
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How can normal probabilities be computed using Excel? Given the cumulative probability, how can the value of the random variable be found?
(Essay)
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If P(X|Y)= P(X), it implies that event Y is dependent on event X.
(True/False)
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Use the data given below to answer the following question(s).
At a casino, a combination of two spinners is used to decide the winner based on the sum of scores from spinning.The spinners each have four colored spaces - red, yellow, blue, and green.Red = 1, Yellow = 2, Blue = 3, and Green = 4
-Compute the expected value of the random variable that denotes the possible summed scores from the
two spinners.
(Essay)
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Explain the similarity between the formulas for computing population mean and expected value of discrete random variable X.
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