Question 1

Compute the F value based on the following:
(a) df1 = 2, df2 = 4, α = 0.01
(b) df1 = 3 df2 = 6, α = 0.05

Accepted Answer

Question 2

Which of the following is not true for discrete random variables?

Accepted Answer

A)  The expected value is the weighted average of the values. 
B)  They can assume only a countable number of values. 
C)  The probability of each value of the random variable must be 0. 
D)  The probability values always sum up to 1. 
E)  A binomial random variable is considered discrete. 
A)  The expected value is the weighted average of the values. 
B)  They can assume only a countable number of values. 
C)  The probability of each value of the random variable must be 0. 
D)  The probability values always sum up to 1. 
E)  A binomial random variable is considered discrete.

Question 3

Stating that two events are statistically independent means that the probability of one event occurring is independent of the probability of the other event having occurred.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following characteristics is not true for the exponential distribution?

Accepted Answer

A)  It is discrete probability distribution. 
B)  It is also called the negative exponential distribution. 
C)  It is used in dealing with queuing problems. 
D)  It is used to describe the times between customer arrivals. 
E)  The variance is the square of the expected value. 
A)  It is discrete probability distribution. 
B)  It is also called the negative exponential distribution. 
C)  It is used in dealing with queuing problems. 
D)  It is used to describe the times between customer arrivals. 
E)  The variance is the square of the expected value.

Question 5

Saying that a set of events is mutually exclusive and collectively exhaustive implies that one and only one of the events can occur on any trial.

Accepted Answer

A) True 
 B)False

Question 6

Drivers arrive at a toll booth at a rate of 3 per minute during peak traffic periods. The time between consecutive driver arrivals follows an exponential distribution. What is the probability that takes more than 1/3 of a minute between consecutive drivers?

Accepted Answer

A)  0.632 
B)  0.111 
C)  0.368 
D)  0.632. 
E)  Not enough information given 
A)  0.632 
B)  0.111 
C)  0.368 
D)  0.632. 
E)  Not enough information given

Question 7

Suppose that we determine the probability of a warm winter based on the number of warm winters experienced over the past 10 years. In this case, we have used ________.

Accepted Answer

A)  relative frequency 
B)  the classical method 
C)  the logical method 
D)  subjective probability 
E)  None of the above 
A)  relative frequency 
B)  the classical method 
C)  the logical method 
D)  subjective probability 
E)  None of the above

Question 8

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 580 minutes?

Accepted Answer

A)  0.152 
B)  0.0548 
C)  0.848 
D)  0.903 
E)  None of the above 
A)  0.152 
B)  0.0548 
C)  0.848 
D)  0.903 
E)  None of the above

Question 9

A company is considering producing some new Gameboy electronic games. Based on past records, management believes that there is a 70 percent chance that each of these will be successful and a 30 percent chance of failure. Market research may be used to revise these probabilities. In the past, the successful products were predicted to be successful based on market research 90 percent of the time. However, for products that failed, the market research predicted these would be successes 20 percent of the time. If market research is performed for a new product, what is the probability that the results indicate a successful market for the product and the product is actually not successful?

Accepted Answer

A)  0.63 
B)  0.06 
C)  0.07 
D)  0.24 
E)  0.27 
A)  0.63 
B)  0.06 
C)  0.07 
D)  0.24 
E)  0.27

Question 10

Assume you have a normal distribution representing the likelihood of completion times. The mean of this distribution is 10, and the standard deviation is 3. The probability of completing the project in 8 or fewer days is the same as the probability of completing the project in 18 days or more.

Accepted Answer

A) True 
 B)False

Question 11

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course. Of these 200, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students enrolled in accounting but not enrolled in statistics. If a business student is selected at random, what is the probability that the student is not enrolled in accounting?

Accepted Answer

A)  0.20 
B)  0.25 
C)  0.30 
D)  0.50 
E)  None of the above 
A)  0.20 
B)  0.25 
C)  0.30 
D)  0.50 
E)  None of the above

Question 12

The exponential distribution often describes ________.

Accepted Answer

the time r

Question 13

Arrivals at a fast-food restaurant follow a Poisson distribution with a mean arrival rate of 16 customers per hour. What is the probability that in the next hour there will be exactly 12 arrivals?

Accepted Answer

A)  0.0000 
B)  0.0661 
C)  0.7500 
D)  0.1322 
E)  None of the above 
A)  0.0000 
B)  0.0661 
C)  0.7500 
D)  0.1322 
E)  None of the above

Question 14

Subjective probability implies that we can measure the relative frequency of the values of the random variable.

Accepted Answer

A) True 
 B)False

Question 15

Assume that you have a box containing five balls: two red and three white. You draw a ball two times, each time replacing the ball just drawn before drawing the next. The probability of drawing only one white ball is 0.20.

Accepted Answer

A) True 
 B)False

Question 16

A ________ is a numerical statement about the likelihood that an event will occur.

Accepted Answer

A)  mutually exclusive construct 
B)  collectively exhaustive construct 
C)  variance 
D)  probability 
E)  standard deviation 
A)  mutually exclusive construct 
B)  collectively exhaustive construct 
C)  variance 
D)  probability 
E)  standard deviation

Question 17

A conditional probability P(B|A) is equal to its marginal probability P(B) if

Accepted Answer

A)  it is a joint probability. 
B)  statistical dependence exists. 
C)  statistical independence exists. 
D)  the events are mutually exclusive. 
E)  P(
A)  = P(
B) . 
A)  it is a joint probability. 
B)  statistical dependence exists. 
C)  statistical independence exists. 
D)  the events are mutually exclusive. 
E)  P(
A)  = P(
B) .

Question 18

Consider a standard 52-card deck of cards. The probability of drawing either a seven or a black card is 7/13.

Accepted Answer

A) True 
 B)False

Question 19

Historical data indicates that only 20% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 20 cable customers, what is the probability that exactly 2 customers would be willing to switch their cable?

Accepted Answer

A)  0.1 
B)  0.04 
C)  0.137 
D)  0.206 
E)  0.794 
A)  0.1 
B)  0.04 
C)  0.137 
D)  0.206 
E)  0.794

Question 20

Data for a particular subdivision near downtown Houston indicate that the average price per square foot for a home is $100 with a standard deviation of $5 (normally distributed). What is the probability that the average price per square foot for a home is greater than $90?

Accepted Answer

A)  0 
B)  0.023 
C)  0.159 
D)  0.977 
E)  None of the above 
A)  0 
B)  0.023 
C)  0.159 
D)  0.977 
E)  None of the above

Compute the F value based on the following: (a) df₁ = 2, df₂ = 4, α = 0.01 (b) df₁ = 3 df₂ = 6, α = 0.05

Which of the following is not true for discrete random variables?

Stating that two events are statistically independent means that the probability of one event occurring is independent of the probability of the other event having occurred.

Which of the following characteristics is not true for the exponential distribution?

Saying that a set of events is mutually exclusive and collectively exhaustive implies that one and only one of the events can occur on any trial.

Drivers arrive at a toll booth at a rate of 3 per minute during peak traffic periods. The time between consecutive driver arrivals follows an exponential distribution. What is the probability that takes more than 1/3 of a minute between consecutive drivers?

Suppose that we determine the probability of a warm winter based on the number of warm winters experienced over the past 10 years. In this case, we have used ________.

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 580 minutes?

Assume you have a normal distribution representing the likelihood of completion times. The mean of this distribution is 10, and the standard deviation is 3. The probability of completing the project in 8 or fewer days is the same as the probability of completing the project in 18 days or more.

The exponential distribution often describes ________.

Arrivals at a fast-food restaurant follow a Poisson distribution with a mean arrival rate of 16 customers per hour. What is the probability that in the next hour there will be exactly 12 arrivals?

Subjective probability implies that we can measure the relative frequency of the values of the random variable.

Assume that you have a box containing five balls: two red and three white. You draw a ball two times, each time replacing the ball just drawn before drawing the next. The probability of drawing only one white ball is 0.20.

A ________ is a numerical statement about the likelihood that an event will occur.

A conditional probability P(B|A) is equal to its marginal probability P(B) if

Consider a standard 52-card deck of cards. The probability of drawing either a seven or a black card is 7/13.

Historical data indicates that only 20% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 20 cable customers, what is the probability that exactly 2 customers would be willing to switch their cable?

Data for a particular subdivision near downtown Houston indicate that the average price per square foot for a home is $100 with a standard deviation of $5 (normally distributed). What is the probability that the average price per square foot for a home is greater than $90?

Introduction to Quantitative Analysis

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation and Assignment Models

Integer Programming, Goal Programming, and Nonlinear Programming

Network Models

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Filters

Exam 2: Probability Concepts and Applications

Compute the F value based on the following: (a) df1 = 2, df2 = 4, α = 0.01 (b) df1 = 3 df2 = 6, α = 0.05

Which of the following is not true for discrete random variables?

Stating that two events are statistically independent means that the probability of one event occurring is independent of the probability of the other event having occurred.

Which of the following characteristics is not true for the exponential distribution?

Saying that a set of events is mutually exclusive and collectively exhaustive implies that one and only one of the events can occur on any trial.

Drivers arrive at a toll booth at a rate of 3 per minute during peak traffic periods. The time between consecutive driver arrivals follows an exponential distribution. What is the probability that takes more than 1/3 of a minute between consecutive drivers?

Suppose that we determine the probability of a warm winter based on the number of warm winters experienced over the past 10 years. In this case, we have used ________.

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 580 minutes?

Assume you have a normal distribution representing the likelihood of completion times. The mean of this distribution is 10, and the standard deviation is 3. The probability of completing the project in 8 or fewer days is the same as the probability of completing the project in 18 days or more.

The exponential distribution often describes ________.

Arrivals at a fast-food restaurant follow a Poisson distribution with a mean arrival rate of 16 customers per hour. What is the probability that in the next hour there will be exactly 12 arrivals?

Subjective probability implies that we can measure the relative frequency of the values of the random variable.

Assume that you have a box containing five balls: two red and three white. You draw a ball two times, each time replacing the ball just drawn before drawing the next. The probability of drawing only one white ball is 0.20.

A ________ is a numerical statement about the likelihood that an event will occur.

A conditional probability P(B|A) is equal to its marginal probability P(B) if

Consider a standard 52-card deck of cards. The probability of drawing either a seven or a black card is 7/13.

Historical data indicates that only 20% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 20 cable customers, what is the probability that exactly 2 customers would be willing to switch their cable?

Data for a particular subdivision near downtown Houston indicate that the average price per square foot for a home is $100 with a standard deviation of $5 (normally distributed). What is the probability that the average price per square foot for a home is greater than $90?

Introduction to Quantitative Analysis

Decision Analysis

Regression Models

Forecasting

Inventory Control Models

Linear Programming Models: Graphical and Computer Methods

Linear Programming Applications

Transportation and Assignment Models

Integer Programming, Goal Programming, and Nonlinear Programming

Network Models

Project Management

Waiting Lines and Queuing Theory Models

Simulation Modeling

Markov Analysis

Statistical Quality Control

Filters

Compute the F value based on the following: (a) df₁ = 2, df₂ = 4, α = 0.01 (b) df₁ = 3 df₂ = 6, α = 0.05