Question 1

Which of the following statements in not true?

Accepted Answer

A) the marginal probability uses the total possible outcomes in the denominator 
B) the union probability is the probability of X or Y occurring. 
C) the joint probability uses the probability of X in the denominator 
D) the conditional probability uses subtotal of the possible outcomes in denominator 
A) the marginal probability uses the total possible outcomes in the denominator 
B) the union probability is the probability of X or Y occurring. 
C) the joint probability uses the probability of X in the denominator 
D) the conditional probability uses subtotal of the possible outcomes in denominator

Question 2

An event that cannot be broken down into other events is called a certainty outcome.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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 5

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 6

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.What is the probability of testing positive and having the disease?

Accepted Answer

A) 0.0475 
B) 0.95 
C) 0.05 
D) 0.9 
E) 0.02 
A) 0.0475 
B) 0.95 
C) 0.05 
D) 0.9 
E) 0.02

Question 7

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 8

If E and F are mutually exclusive,then _______.

Accepted Answer

A) the probability of the union is zero 
B) P(
E) = 1 - P(F) 
C) the probability of the intersection is zero 
D) the probability of the union is one 
E) P(
E) = P(F) 
A) the probability of the union is zero 
B) P(
E) = 1 - P(F) 
C) the probability of the intersection is zero 
D) the probability of the union is one 
E) P(
E) = P(F)

Question 9

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

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 10

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 11

Assigning probability 1/52 on drawing the ace of spade in a deck of cards 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 12

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(A|F)= _____________.

Accepted Answer

A) 0.37 
B) 0.70 
C) 0.13 
D) 0.35 
E) 0.80 
A) 0.37 
B) 0.70 
C) 0.13 
D) 0.35 
E) 0.80

Question 13

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.'   Which of the following statements is not true?

Accepted Answer

A) Growth and Income are complementary events. 
B) Electronics and Growth are dependent. 
C) Electronics and Healthcare are mutually exclusive. 
D) Airlines and Healthcare are collectively exhaustive. 
E) Growth and Income are collectively exhaustive. 
A) Growth and Income are complementary events. 
B) Electronics and Growth are dependent. 
C) Electronics and Healthcare are mutually exclusive. 
D) Airlines and Healthcare are collectively exhaustive. 
E) Growth and Income are collectively exhaustive.

Question 14

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 15

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 independent.

Accepted Answer

A) True 
 B)False

Question 16

Assigning probabilities by dividing the number of ways that an event can occur by the total number of possible outcomes in an experiment is called the classical method.

Accepted Answer

A) True 
 B)False

Which of the following statements in not true?

An event that cannot be broken down into other events is called a certainty outcome.

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

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.

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.What is the probability of testing positive and having the disease?

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.

If E and F are mutually exclusive,then _______.

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

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.

Assigning probability 1/52 on drawing the ace of spade in a deck of cards is an example of assigning probabilities using the ________________ method

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Which of the following statements is not 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 independent.

Assigning probabilities by dividing the number of ways that an event can occur by the total number of possible outcomes in an experiment is called the classical method.

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

Which of the following statements in not true?

An event that cannot be broken down into other events is called a certainty outcome.

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

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.

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.What is the probability of testing positive and having the disease?

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.

If E and F are mutually exclusive,then _______.

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

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.

Assigning probability 1/52 on drawing the ace of spade in a deck of cards is an example of assigning probabilities using the ________________ method

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Which of the following statements is not 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 independent.

Assigning probabilities by dividing the number of ways that an event can occur by the total number of possible outcomes in an experiment is called the classical method.

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