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Business
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Quantitative Analysis for Management
Exam 2: Probability Concepts and Applications
Path 4
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Question 1
Multiple Choice
Disco Fever is randomly found in one half of one percent of the general population.Testing a swatch of clothing for the presence of polyester is 99% effective in detecting the presence of this disease.The test also yields a false-positive in 4% of the cases where the disease is not present.What is the probability that the disease is present if the test result is negative?
Question 2
Multiple Choice
The number of cell phone minutes used by high school seniors follows a normal distribution with a mean of 500 and a standard deviation of 50.What is the probability that a student uses more than 350 minutes?
Question 3
Essay
Explain why event probabilities range from 0 to 1.
Question 4
True/False
A probability density function is a mathematical way of describing Bayes' theorem.
Question 5
Multiple Choice
The Department of Motor Vehicles (DMV) can service customers at a rate of 20 per hour (or 1/3 per minute) when it comes to license renewals.The service time follows an exponential distribution.What is the probability that it will take less than 3 minutes for a particular customer to get a license renewal?
Question 6
Multiple Choice
The number of cell phone minutes used by high school seniors follows a normal distribution with a mean of 500 and a standard deviation of 50.What is the probability that a student uses between 400 and 500 minutes?