Question 1

Suppose that 3% of all TVs made by some company in 2012 are defective. If 2 of these TVs are randomly selected what is the probability that both are defective?

Accepted Answer

A)  0.0009 
B)  0.0025 
C)  0.0900 
D)  0.0475 
E)  0.19 
A)  0.0009 
B)  0.0025 
C)  0.0900 
D)  0.0475 
E)  0.19

Question 2

Suppose you toss a fair coin three times in a row and obtain tails, tails, and tails. What it the probability that the fourth toss will give heads?

Accepted Answer

A)  0.75 
B)  0.67 
C)  0.50 
D)  0.33 
E)  0.25 
A)  0.75 
B)  0.67 
C)  0.50 
D)  0.33 
E)  0.25

Question 3

Given two events, A and B, if the probability of either A or B occurring is 0.6, then the probability of neither A nor B occurring is -0.6.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is a legitimate probability value?

Accepted Answer

A)  1.67 
B)  16/15 
C)  -0.23 
D)  3/2 
E)  0.28 
A)  1.67 
B)  16/15 
C)  -0.23 
D)  3/2 
E)  0.28

Question 5

Given two events, A and B, if the probability of A is 0.7, the probability of B is 0.3, and the joint probability of A and B is 0.21, then the two events are independent.

Accepted Answer

A) True 
 B)False

Question 6

Let F be the event that a student is enrolled in a finance course, and let S be the event that a student is enrolled in a statistics course. It is known that 40% of all students are enrolled in an finance course and 35% of all students are enrolled in statistics. Included in these numbers are 15% who are enrolled in both statistics and finance. Find P(S).

Accepted Answer

A)  0.15 
B)  0.35 
C)  0.40 
D)  0.55 
E)  0.60 
A)  0.15 
B)  0.35 
C)  0.40 
D)  0.55 
E)  0.60

Question 7

An event that $\textbf{   not      }$  be broken down into other events is called a certainty outcome.

Accepted Answer

A) True 
 B)False

Question 8

A market research firm is investigating the appeal of three package designs. The table below gives information obtained through a sample of 200 consumers. The three package designs are labelled A, B, and C. The consumers are classified according to age and package design preference.   If one of these consumers is randomly selected and prefers design B, what is the probability that the person is 25 or older?

Accepted Answer

A)  0.28 
B)  0.14 
C)  0.45 
D)  0.27 
E)  0.78 
A)  0.28 
B)  0.14 
C)  0.45 
D)  0.27 
E)  0.78

Question 9

Suppose that your company is sending invitations to its 50 most important clients for an end-of-the-year event where a new product will be exhibited. These are printed invitation cards mailed through USPS, and each card is personalized with the name of the corresponding client. You realize that the cards have been accidentally shuffled before placing them in the envelopes. What is the probability that only one card is in the wrong envelope?

Accepted Answer

A)  0.02 
B)  0.15 
C)  0.10 
D)  0.05 
E)  0.00 
A)  0.02 
B)  0.15 
C)  0.10 
D)  0.05 
E)  0.00

Question 10

Your company provides services to three different industries: automotive, construction, and financial services. These services can be either on a yearly or on a monthly contract. The cross-tabulation table below summarizes this information:   Suppose you know that a given client is a construction company and you are interested in the likelihood that this client is on a yearly contract. This is an example of ___.

Accepted Answer

A)  joint probability 
B)  marginal probability 
C)  conditional probability 
D)  a priori probability 
E)  a posteriori probability 
A)  joint probability 
B)  marginal probability 
C)  conditional probability 
D)  a priori probability 
E)  a posteriori probability

Question 11

Abel Alonzo, Director of Human Resources, is exploring employee absenteeism at the Plano Power Plant. Ten percent of all plant employees work in the finishing department; 20% of all plant employees are absent excessively; and 7% of all plant employees work in the finishing department and are absent excessively. A plant employee is selected randomly; F is the event "works in the finishing department;" and A is the event "is absent excessively." P(F|A) = ___.

Accepted Answer

A)  0.35 
B)  0.70 
C)  0.13 
D)  0.37 
E)  0.10 
A)  0.35 
B)  0.70 
C)  0.13 
D)  0.37 
E)  0.10

Question 12

Let F be the event that a student is enrolled in a finance course, and let S be the event that a student is enrolled in a statistics course. It is known that 40% of all students are enrolled in a finance course and 35% of all students are enrolled in statistics. Included in these numbers are 15% who are enrolled in both statistics and finance. If one student is selected at random and he is enrolled in statistics, what is the probability that he is enrolled in finance?

Accepted Answer

The answer of Let F be the event that a...

Question 13

If the occurrence of one event does $\textbf{   not      }$ affect the occurrence of another event, then the two events are mutually exclusive.

Accepted Answer

A) True 
 B)False

Question 14

A recently published study shows that 50% of Americans adults take multivitamins regularly. Another recent study showed that 20.6% of American adults work out regularly. Suppose that these two variables are independent. The probability that a randomly selected American adult takes multivitamins regularly and works out regularly is ___.

Accepted Answer

A)  0.706 
B)  0.309 
C)  0.155 
D)  0.106 
E)  0.103 
A)  0.706 
B)  0.309 
C)  0.155 
D)  0.106 
E)  0.103

Question 15

Given P(A) = 0.45, P(B) = 0.30, P(A and B) = 0.05. Which of the following is true?

Accepted Answer

A)  A and B are independent. 
B)  A and B are mutually exclusive. 
C)  A and B are collectively exhaustive. 
D)  A and B are not independent. 
E)  A and B are complimentary. 
A)  A and B are independent. 
B)  A and B are mutually exclusive. 
C)  A and B are collectively exhaustive. 
D)  A and B are not independent. 
E)  A and B are complimentary.

Question 16

Given two events A and B each with a non-zero probability, if the conditional probability of A given B is zero, it implies that the events A and B are mutually exclusive.

Accepted Answer

A) True 
 B)False

Question 17

If two events are mutually exclusive, then their joint probability is always zero.

Accepted Answer

A) True 
 B)False

Question 18

Belinda Bose is reviewing a newly proposed advertising campaign. Based on her 15-years' experience, she believes the campaign has a 75% chance of significantly increasing brand name recognition of the product. This is an example of assigning probabilities using the ___ method.

Accepted Answer

A)  subjective probability 
B)  relative frequency 
C)  classical probability 
D)  a priori probability 
E)  a posterior probability 
A)  subjective probability 
B)  relative frequency 
C)  classical probability 
D)  a priori probability 
E)  a posterior probability

Question 19

Let F be the event that a student is enrolled in a finance course, and let S be the event that a student is enrolled in a statistics course. It is known that 40% of all students are enrolled in a finance course and 35% of all students are enrolled in statistics. Included in these numbers are 15% who are enrolled in both statistics and finance. Find the probability that a student is in finance and is also in statistics.

Accepted Answer

A)  0.15 
B)  0.70 
C)  0.55 
D)  0.12 
E)  0.60 
A)  0.15 
B)  0.70 
C)  0.55 
D)  0.12 
E)  0.60

Question 20

Which of the following is true regarding probability?
 I: Probability is used by most industries.
II: By applying rules and laws one can conduct inferential process under uncertainty.

Accepted Answer

A)  I only 
B)  II only 
C)  Both I and II 
D)  none of the above 
A)  I only 
B)  II only 
C)  Both I and II 
D)  none of the above

Suppose that 3% of all TVs made by some company in 2012 are defective. If 2 of these TVs are randomly selected what is the probability that both are defective?

Suppose you toss a fair coin three times in a row and obtain tails, tails, and tails. What it the probability that the fourth toss will give heads?

Given two events, A and B, if the probability of either A or B occurring is 0.6, then the probability of neither A nor B occurring is -0.6.

Which of the following is a legitimate probability value?

Given two events, A and B, if the probability of A is 0.7, the probability of B is 0.3, and the joint probability of A and B is 0.21, then the two events are independent.

An event that $\textbf{ not }$ be broken down into other events is called a certainty outcome.

If the occurrence of one event does $\textbf{ not }$ affect the occurrence of another event, then the two events are mutually exclusive.

Given P(A) = 0.45, P(B) = 0.30, P(A and B) = 0.05. Which of the following is true?

Given two events A and B each with a non-zero probability, if the conditional probability of A given B is zero, it implies that the events A and B are mutually exclusive.

If two events are mutually exclusive, then their joint probability is always zero.

Belinda Bose is reviewing a newly proposed advertising campaign. Based on her 15-years' experience, she believes the campaign has a 75% chance of significantly increasing brand name recognition of the product. This is an example of assigning probabilities using the ___ method.

Which of the following is true regarding probability? I: Probability is used by most industries. II: By applying rules and laws one can conduct inferential process under uncertainty.

Introduction to Statistics

Organizing and Visualizing Data

Descriptive Statistics

Gathering Data

Decision Analysis and Expected Value

Discrete Probability Distributions

Continuous Distributions

Sampling Distributions

Confidence Intervals

Hypothesis Testing for Single Populations

Hypothesis Testing for Two Populations

Analysis of Variance Anova

Linear Correlation and Simple Linear Regression Analysis

Categorical Versus Categorical: Tests

Filters

Exam 5: Probability

Suppose that 3% of all TVs made by some company in 2012 are defective. If 2 of these TVs are randomly selected what is the probability that both are defective?

Suppose you toss a fair coin three times in a row and obtain tails, tails, and tails. What it the probability that the fourth toss will give heads?

Given two events, A and B, if the probability of either A or B occurring is 0.6, then the probability of neither A nor B occurring is -0.6.

Which of the following is a legitimate probability value?

Given two events, A and B, if the probability of A is 0.7, the probability of B is 0.3, and the joint probability of A and B is 0.21, then the two events are independent.

An event that not \textbf{ not } not be broken down into other events is called a certainty outcome.

If the occurrence of one event does not \textbf{ not } not affect the occurrence of another event, then the two events are mutually exclusive.

Given P(A) = 0.45, P(B) = 0.30, P(A and B) = 0.05. Which of the following is true?

Given two events A and B each with a non-zero probability, if the conditional probability of A given B is zero, it implies that the events A and B are mutually exclusive.

If two events are mutually exclusive, then their joint probability is always zero.

Belinda Bose is reviewing a newly proposed advertising campaign. Based on her 15-years' experience, she believes the campaign has a 75% chance of significantly increasing brand name recognition of the product. This is an example of assigning probabilities using the ___ method.

Which of the following is true regarding probability? I: Probability is used by most industries. II: By applying rules and laws one can conduct inferential process under uncertainty.

Introduction to Statistics

Organizing and Visualizing Data

Descriptive Statistics

Gathering Data

Decision Analysis and Expected Value

Discrete Probability Distributions

Continuous Distributions

Sampling Distributions

Confidence Intervals

Hypothesis Testing for Single Populations

Hypothesis Testing for Two Populations

Analysis of Variance Anova

Linear Correlation and Simple Linear Regression Analysis

Categorical Versus Categorical: Tests

Filters

An event that $\textbf{ not }$ be broken down into other events is called a certainty outcome.

If the occurrence of one event does $\textbf{ not }$ affect the occurrence of another event, then the two events are mutually exclusive.