Question 1

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

Accepted Answer

A) 0.90 
B) 1.05 
C) 0.75 
D) 0.65 
E) 0.60 
A) 0.90 
B) 1.05 
C) 0.75 
D) 0.65 
E) 0.60

Question 2

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 labeled 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 and is under 25?

Accepted Answer

A) 0.22 
B) 0.11 
C) 0.18 
D) 0.54 
E) 0.78 
A) 0.22 
B) 0.11 
C) 0.18 
D) 0.54 
E) 0.78

Question 3

A market research firms 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).For any randomly selected new product,what is the probability that the market research firm would predict that it would be a success?

Accepted Answer

A) 0.80 
B) 0.50 
C) 0.45 
D) 0.55 
E) 0.95 
A) 0.80 
B) 0.50 
C) 0.45 
D) 0.55 
E) 0.95

Question 4

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the joint probability table below that was developed from the dealer's records for the previous year,P (Female $\cap$ SUV)= _______.

Accepted Answer

A) 0.30 
B) 0.40 
C) 0.12 
D) 0.10 
E) 0.60 
A) 0.30 
B) 0.40 
C) 0.12 
D) 0.10 
E) 0.60

Question 5

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 (Growth)= _______.

Accepted Answer

A) 0.50 
B) 0.83 
C) 0.67 
D) 0.75 
E) 0.90 
A) 0.50 
B) 0.83 
C) 0.67 
D) 0.75 
E) 0.90

Question 6

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the following joint probability table that was developed from the dealer's records for the previous year,P (Female)= __________.

Accepted Answer

A) 0.30 
B) 0.40 
C) 0.12 
D) 0.10 
E) 0.60 
A) 0.30 
B) 0.40 
C) 0.12 
D) 0.10 
E) 0.60

Question 7

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.A student is randomly selected,and it is found that the student is enrolled in finance.What is the probability that this student is also enrolled in statistics?

Accepted Answer

A) 0.15 
B) 0.75 
C) 0.375 
D) 0.50 
E) 0.80 
A) 0.15 
B) 0.75 
C) 0.375 
D) 0.50 
E) 0.80

Question 8

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

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Suppose 5% of the population have a certain disease.A laboratory blood test gives a positive reading for 95% of people who have the disease and 10% positive reading of people who do not have the disease..What is the probability that a randomly selected person has the disease given that this person is testing positive?

Accepted Answer

A) 0.0475 
B) 0.1425 
C) 0.95 
D) 0.9 
E) 0.3333 
A) 0.0475 
B) 0.1425 
C) 0.95 
D) 0.9 
E) 0.3333

Question 11

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 12

Which of the following is not a legitimate probability value?

Accepted Answer

A) 0.87 
B) 12/13 
C) 0.05 
D) 5/4 
E) 0.93 
A) 0.87 
B) 12/13 
C) 0.05 
D) 5/4 
E) 0.93

Question 13

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 14

Let F be the event that a student is enrolled in afinance 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 15

If the occurrence of one event precludes the occurrence of another event,then the two events are mutually exclusive.

Accepted Answer

A) True 
 B)False

Question 16

The table below provides summary information about students in a class.The sex of each individual and their age is given.   If a student is randomly selected from this group,what is the probability that the student is a female who in under 20 years old?

Accepted Answer

A) 0.08 
B) 0.18 
C) 0.52 
D) 0.26 
E) 0.78 
A) 0.08 
B) 0.18 
C) 0.52 
D) 0.26 
E) 0.78

Question 17

The table below provides summary information about students in a class.The sex of each individual and their age is given.   If a student is randomly selected from this group,what is the probability that the student is male?

Accepted Answer

A) 0.12 
B) 0.48 
C) 0.50 
D) 0.52 
E) 0.68 
A) 0.12 
B) 0.48 
C) 0.50 
D) 0.52 
E) 0.68

Question 18

Given P (A)= 0.45,P (B)= 0.30,P (A $\cap$ B)= 0.05.Find P (B|A).

Accepted Answer

A) 0.45 
B) 0.135 
C) 0.30 
D) 0.111 
E) 0.167 
A) 0.45 
B) 0.135 
C) 0.30 
D) 0.111 
E) 0.167

Question 19

Probability is used to develop knowledge of the fundamental mathematical tools for quantitatively assessing risk.

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 $\cap$ H is ___________.

Accepted Answer

A) {Meagan} 
B) {Betty,Patty,Abel,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,Patty,Abel,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 $\cap$ B)= 0.15.Find P(A $\cup$ B).

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 (Growth)= _______.

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the following joint probability table that was developed from the dealer's records for the previous year,P (Female)= __________.

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 ___________.

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

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

Which of the following is not a legitimate probability value?

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)= _______.

If the occurrence of one event precludes the occurrence of another event,then the two events are mutually exclusive.

The table below provides summary information about students in a class.The sex of each individual and their age is given. If a student is randomly selected from this group,what is the probability that the student is a female who in under 20 years old?

The table below provides summary information about students in a class.The sex of each individual and their age is given. If a student is randomly selected from this group,what is the probability that the student is male?

Given P (A)= 0.45,P (B)= 0.30,P (A $\cap$ B)= 0.05.Find P (B|A).

Probability is used to develop knowledge of the fundamental mathematical tools for quantitatively assessing risk.

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 $\cap$ 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∩ B)= 0.15.Find P(A ∪\cup∪ B).

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the joint probability table below that was developed from the dealer's records for the previous year,P (Female ∩\cap∩ SUV)= _______.

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 (Growth)= _______.

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the following joint probability table that was developed from the dealer's records for the previous year,P (Female)= __________.

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 ___________.

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

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

Which of the following is not a legitimate probability value?

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)= _______.

If the occurrence of one event precludes the occurrence of another event,then the two events are mutually exclusive.

The table below provides summary information about students in a class.The sex of each individual and their age is given. If a student is randomly selected from this group,what is the probability that the student is a female who in under 20 years old?

The table below provides summary information about students in a class.The sex of each individual and their age is given. If a student is randomly selected from this group,what is the probability that the student is male?

Given P (A)= 0.45,P (B)= 0.30,P (A ∩\cap∩ B)= 0.05.Find P (B|A).

Probability is used to develop knowledge of the fundamental mathematical tools for quantitatively assessing risk.

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 ∩\cap∩ 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 $\cap$ B)= 0.15.Find P(A $\cup$ 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 ___________.

Given P (A)= 0.45,P (B)= 0.30,P (A $\cap$ B)= 0.05.Find P (B|A).

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 $\cap$ H is ___________.