Question 1

Given P (A)= 0.40,P (B)= 0.50,P (A $\cap$0 B)= 0.15.Find P (A|B).

Accepted Answer

A) 0.20 
B) 0.80 
C) 0.30 
D) 0.375 
E) 0.15 
A) 0.20 
B) 0.80 
C) 0.30 
D) 0.375 
E) 0.15

Question 2

Deconstruct the elements of probability by defining experiments,sample spaces,and events;classifying events as mutually exclusive,collectively exhaustive,complementary,or independent;and counting possibilities.

Accepted Answer

Certain special types of events necessit

Question 3

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

Accepted Answer

A) True 
 B)False

Question 4

Differentiate among three methods of assigning probabilities: the classical method,relative frequency of occurrence,and subjective probability.

Accepted Answer

Three methods of assigning probabilities

Question 5

Let A be the event that a student is enrolled in an accounting course,and let S be the event that a student is enrolled in a statistics course.It is known that 30% of all students are enrolled in an accounting course and 40% of all students are enrolled in statistics.Included in these numbers are 15% who are enrolled in both statistics and accounting.Find P(S).

Accepted Answer

A) 0.15 
B) 0.30 
C) 0.40 
D) 0.55 
E) 0.60 
A) 0.15 
B) 0.30 
C) 0.40 
D) 0.55 
E) 0.60

Question 6

Max Sandlin is exploring the characteristics of stock market investors.He found that sixty percent of all investors have a net worth exceeding $1,000,000;20% of all investors use an online brokerage;and 10% of all investors a have net worth exceeding $1,000,000 and use an online brokerage.An investor is selected randomly,and E is the event "net worth exceeds $1,000,000," and O is the event "uses an online brokerage." P(O|E)= ___.

Accepted Answer

A) 0.17 
B) 0.50 
C) 0.80 
D) 0.70 
E) 0.88 
A) 0.17 
B) 0.50 
C) 0.80 
D) 0.70 
E) 0.88

Question 7

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.'   If a stock is selected randomly from Meagan's portfolio,P (Airlines|Income)= ___.

Accepted Answer

A) 0.10 
B) 0.40 
C) 0.25 
D) 0.67 
E) 0.90 
A) 0.10 
B) 0.40 
C) 0.25 
D) 0.67 
E) 0.90

Question 8

Assigning probabilities to uncertain events based on one's beliefs or intuitions is called classical method.

Accepted Answer

A) True 
 B)False

Question 9

Calculate probabilities using the general law of addition,along with a joint probability table,the complement of a union,or the special law of addition if necessary.

Accepted Answer

Four types of probability are marginal p

Question 10

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.'   
If a stock is selected randomly from Meagan's portfolio,P (Healthcare $\cup$ Electronics)= ___.

Accepted Answer

A) 0.25 
B) 0.85 
C) 0.60 
D) 0.75 
E) 0.90 
A) 0.25 
B) 0.85 
C) 0.60 
D) 0.75 
E) 0.90

Question 11

A market research firm conducts studies regarding the success of new products.The company is not always perfect in predicting the success.Suppose that there is a 50% chance that any new product would be successful (and a 50% chance that it would fail).In the past,for all new products that ultimately were successful,80% were predicted to be successful (and the other 20% were inaccurately predicted to be failures).Also,for all new products that were ultimately failures,70% were predicted to be failures (and the other 30% were inaccurately predicted to be successes).If the market research predicted that the product would be a success,what is the probability that it would actually be a success?

Accepted Answer

A) 0.27 
B) 0.73 
C) 0.80 
D) 0.24 
E) 1.00 
A) 0.27 
B) 0.73 
C) 0.80 
D) 0.24 
E) 1.00

Question 12

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,what is the probability that the person prefers design A?

Accepted Answer

A) 0.76 
B) 0.38 
C) 0.33 
D) 0.22 
E) 0.39 
A) 0.76 
B) 0.38 
C) 0.33 
D) 0.22 
E) 0.39

Question 13

The method of assigning probabilities to uncertain outcomes based on laws and rules is called the classical method.

Accepted Answer

A) True 
 B)False

Question 14

Bayes' rule is a rule to assign probabilities under the classical method.

Accepted Answer

A) True 
 B)False

Question 15

An analysis of personal loans at a local bank revealed the following facts: 10% of all personal loans are in default (D),90% of all personal loans are not in default (D΄),20% of those in default are homeowners (H | D),and 70% of those not in default are homeowners (H | D΄).If a personal loan is selected at random P (H $\cap$ D')= ___.

Accepted Answer

A) 0.20 
B) 0.63 
C) 0.90 
D) 0.18 
E) 0.78 
A) 0.20 
B) 0.63 
C) 0.90 
D) 0.18 
E) 0.78

Question 16

Given two events,A and B,if the probability of either A or B occurring is 0.8,then the probability of neither A nor B occurring is -0.8.

Accepted Answer

A) True 
 B)False

Question 17

Describe what probability is and when one would use it.

Accepted Answer

The study of probability addresses ways

Question 18

Given two events,A and B,if the probability of A is 0.6,the probability of B is 0.4,and the joint probability of A and B is 0.24,then the two events are independent.

Accepted Answer

A) True 
 B)False

Question 19

Bayes' rule is an extension of the law of conditional probabilities to allow revision of original probabilities with new information.

Accepted Answer

A) True 
 B)False

Question 20

Consider the following sample space,S,and several events defined on it.S = {Albert,Betty,Abel,Jack,Patty,Meagan},and the events are: F = {Betty,Patty,Meagan},H = {Abel,Meagan},and P = {Betty,Abel}.F $\cup$ H is ___.

Accepted Answer

A) {Meagan} 
B) {Betty,Abel,Patty,Meagan} 
C) empty,since F and H are complements 
D) empty,since F and H are independent 
E) empty,since F and H are mutually exclusive 
A) {Meagan} 
B) {Betty,Abel,Patty,Meagan} 
C) empty,since F and H are complements 
D) empty,since F and H are independent 
E) empty,since F and H are mutually exclusive

Given P (A)= 0.40,P (B)= 0.50,P (A $\cap$ 0 B)= 0.15.Find P (A|B).

Deconstruct the elements of probability by defining experiments,sample spaces,and events;classifying events as mutually exclusive,collectively exhaustive,complementary,or independent;and counting possibilities.

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

Differentiate among three methods of assigning probabilities: the classical method,relative frequency of occurrence,and subjective probability.

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' If a stock is selected randomly from Meagan's portfolio,P (Airlines|Income)= ___.

Assigning probabilities to uncertain events based on one's beliefs or intuitions is called classical method.

Calculate probabilities using the general law of addition,along with a joint probability table,the complement of a union,or the special law of addition if necessary.

The method of assigning probabilities to uncertain outcomes based on laws and rules is called the classical method.

Bayes' rule is a rule to assign probabilities under the classical method.

Given two events,A and B,if the probability of either A or B occurring is 0.8,then the probability of neither A nor B occurring is -0.8.

Describe what probability is and when one would use it.

Given two events,A and B,if the probability of A is 0.6,the probability of B is 0.4,and the joint probability of A and B is 0.24,then the two events are independent.

Bayes' rule is an extension of the law of conditional probabilities to allow revision of original probabilities with new information.

Consider the following sample space,S,and several events defined on it.S = {Albert,Betty,Abel,Jack,Patty,Meagan},and the events are: F = {Betty,Patty,Meagan},H = {Abel,Meagan},and P = {Betty,Abel}.F $\cup$ H is ___.

Introduction to Statistics

Charts and Graphs

Descriptive Statistics

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Exam 4: Probability

Given P (A)= 0.40,P (B)= 0.50,P (A ∩\cap∩ 0 B)= 0.15.Find P (A|B).

Deconstruct the elements of probability by defining experiments,sample spaces,and events;classifying events as mutually exclusive,collectively exhaustive,complementary,or independent;and counting possibilities.

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

Differentiate among three methods of assigning probabilities: the classical method,relative frequency of occurrence,and subjective probability.

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' If a stock is selected randomly from Meagan's portfolio,P (Airlines|Income)= ___.

Assigning probabilities to uncertain events based on one's beliefs or intuitions is called classical method.

Calculate probabilities using the general law of addition,along with a joint probability table,the complement of a union,or the special law of addition if necessary.

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' If a stock is selected randomly from Meagan's portfolio,P (Healthcare ∪\cup∪ Electronics)= ___.

The method of assigning probabilities to uncertain outcomes based on laws and rules is called the classical method.

Bayes' rule is a rule to assign probabilities under the classical method.

Given two events,A and B,if the probability of either A or B occurring is 0.8,then the probability of neither A nor B occurring is -0.8.

Describe what probability is and when one would use it.

Given two events,A and B,if the probability of A is 0.6,the probability of B is 0.4,and the joint probability of A and B is 0.24,then the two events are independent.

Bayes' rule is an extension of the law of conditional probabilities to allow revision of original probabilities with new information.

Consider the following sample space,S,and several events defined on it.S = {Albert,Betty,Abel,Jack,Patty,Meagan},and the events are: F = {Betty,Patty,Meagan},H = {Abel,Meagan},and P = {Betty,Abel}.F ∪\cup∪ H is ___.

Introduction to Statistics

Charts and Graphs

Descriptive Statistics

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Given P (A)= 0.40,P (B)= 0.50,P (A $\cap$ 0 B)= 0.15.Find P (A|B).

Consider the following sample space,S,and several events defined on it.S = {Albert,Betty,Abel,Jack,Patty,Meagan},and the events are: F = {Betty,Patty,Meagan},H = {Abel,Meagan},and P = {Betty,Abel}.F $\cup$ H is ___.