Question 1

The number of finance majors within the School of Business is an example of _______.

Accepted Answer

A) a discrete random variable 
B) a continuous random variable 
C) the Poisson distribution 
D) the normal distribution 
E) a constant 
A) a discrete random variable 
B) a continuous random variable 
C) the Poisson distribution 
D) the normal distribution 
E) a constant

Question 2

The number of bags arriving on the baggage claim conveyor belt in a 3-minute time period would best be modeled with the _________.

Accepted Answer

A) binomial distribution 
B) hypergeometric distribution 
C) Poisson distribution 
D) hyperbinomial distribution 
E) exponential distribution 
A) binomial distribution 
B) hypergeometric distribution 
C) Poisson distribution 
D) hyperbinomial distribution 
E) exponential distribution

Question 3

Aluminum castings are processed in lots of five each.A sample of two castings is randomly selected from each lot for inspection.A particular lot contains one defective casting; and x is the number of defective castings in the sample.P(x=0)is _______.

Accepted Answer

A) 0.2 
B) 0.4 
C) 0.6 
D) 0.8 
E) 1.0 
A) 0.2 
B) 0.4 
C) 0.6 
D) 0.8 
E) 1.0

Question 4

The Poisson distribution is being used to approximate a binomial distribution.If n=60 and p=0.02, what value of lambda would be used?

Accepted Answer

A) 0.02 
B) 12 
C) 0.12 
D) 1.2 
E) 120 
A) 0.02 
B) 12 
C) 0.12 
D) 1.2 
E) 120

Question 5

The Poisson distribution is a continuous distribution which is very useful in solving waiting time problems

Accepted Answer

A) True 
 B)False

Question 6

If x is a binomial random variable with n=10 and p=0.8, the mean value of x is _____.

Accepted Answer

A) 6 
B) 4.8 
C) 3.2 
D) 8 
E) 48 
A) 6 
B) 4.8 
C) 3.2 
D) 8 
E) 48

Question 7

You are offered an investment opportunity.Its outcomes and probabilities are presented in the following table. $$\begin{array} { | c | c | } 
\hline \boldsymbol { x } & P ( \boldsymbol { x } ) \
\hline \hline - \$ 1,000 & 40 \
\hline \$ 0 & .20 \
\hline + \$ 1,000 & .40 \
\hline
\end{array}$$ Which of the following statements is true?

Accepted Answer

A) This distribution is skewed to the right. 
B) This is a binomial distribution. 
C) This distribution is symmetric. 
D) This distribution is skewed to the left. 
E) This is a Poisson distribution 
A) This distribution is skewed to the right. 
B) This is a binomial distribution. 
C) This distribution is symmetric. 
D) This distribution is skewed to the left. 
E) This is a Poisson distribution

Question 8

The following graph is a binomial distribution with n = 6.   This graph reveals that ____________.

Accepted Answer

A) p > 0.5 B) p = 1.0 C) p = 0 D) p < 0.5 E) p = 1.5 A) p > 0.5 B) p = 1.0 C) p = 0 D) p < 0.5 E) p = 1.5

Question 9

It is known that screws produced by a certain company will be defective with a probability of .01, independently of each other.The company sells the screws in packages of 25 and offers a money-back guarantee that at most, 1 of the 25 screws is defective.Using Poisson approximation for binomial distribution, the probability that the company must replace a package is approximately _________

Accepted Answer

A) 0.01 
B) 0.1947 
C) 0.7788 
D) 0.0265 
E) 0.2211 
A) 0.01 
B) 0.1947 
C) 0.7788 
D) 0.0265 
E) 0.2211

Question 10

Epsilon Manufacturing Company makes a specialized electronic product used in the automotive industry.This product has 4 components, each of which could be defective.So the total number of defects of this product can be 0, 1, 2, 3, or 4.The following table provides the probabilities of the number of defects: Number of defects Probability
0 .508
1 .302
2 .105
3 .080
4 .005
The standard deviation of the number of defects is _______.

Accepted Answer

A) 0.89 
B) 0.90 
C) 0.91 
D) 0.92 
E) 0.96 
A) 0.89 
B) 0.90 
C) 0.91 
D) 0.92 
E) 0.96

Question 11

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of a random sample of vouchers issued since January 1, 2016.A sample of ten vouchers is randomly selected, without replacement, from the population of 2,000 vouchers.Each voucher in the sample is examined for errors and the number of vouchers in the sample with errors is denoted by x.If 20% of the population of vouchers contains errors, the standard deviation of x is ______.

Accepted Answer

A) 1.26 
B) 1.60 
C) 14.14 
D) 3.16 
E) 0.00 
A) 1.26 
B) 1.60 
C) 14.14 
D) 3.16 
E) 0.00

Question 12

Both the Poisson and the binomial distributions are discrete distributions and both have a given number of trials.

Accepted Answer

A) True 
 B)False

Question 13

Epsilon Manufacturing Company makes a specialized electronic product used in the automotive industry.This product has 4 components, each of which could be defective.So the total number of defects of this product can be 0, 1, 2, 3, or 4.The following table provides the probabilities of the number of defects: Number of defects Probability
0 .508
1 .302
2 .105
3 .080
4 .005
The mean number of defects is _______.

Accepted Answer

A) .75 
B) .77 
C) .80 
D) .85 
E) .87 
A) .75 
B) .77 
C) .80 
D) .85 
E) .87

Question 14

If x is a binomial random variable with n=10 and p=0.8, the standard deviation of x is _________.

Accepted Answer

A) 8.0 
B) 1.26 
C) 1.60 
D) 64.0 
E) 10 
A) 8.0 
B) 1.26 
C) 1.60 
D) 64.0 
E) 10

Question 15

Suppose that during a given week, 20 new customers have signed up for a specialized service your company provides.Eight of these new customers are automotive companies, and the remaining twelve are financial services firms.If a random sample of 5 of these new customers will be selected for a study of customer satisfaction in one month, what is the probability that 2 of the selected customers are financial services firms?

Accepted Answer

A) 0.232 
B) 0.234 
C) 0.236 
D) 0.238 
E) 0.240 
A) 0.232 
B) 0.234 
C) 0.236 
D) 0.238 
E) 0.240

Question 16

If x has a binomial distribution with p = .5, then the distribution of x is ________.

Accepted Answer

A) skewed to the right 
B) skewed to the left 
C) symmetric 
D) a Poisson distribution 
E) a hypergeometric distribution 
A) skewed to the right 
B) skewed to the left 
C) symmetric 
D) a Poisson distribution 
E) a hypergeometric distribution

Question 17

In a binomial experiment, any single trial contains only two possible outcomes and successive trials are independent.

Accepted Answer

A) True 
 B)False

Question 18

On Monday mornings, customers arrive at the coffee shop drive thru at the rate of 6 cars per fifteen-minute interval.Using the Poisson distribution, the probability that five cars will arrive during the next five-minute interval is _____________.

Accepted Answer

A) 0.1008 
B) 0.0361 
C) 0.1339 
D) 0.1606 
E) 0.3610 
A) 0.1008 
B) 0.0361 
C) 0.1339 
D) 0.1606 
E) 0.3610

Question 19

The Poisson distribution is being used to approximate a binomial distribution.If n=30 and p=0.03, what value of lambda would be used?

Accepted Answer

A) 0.09 
B) 9.0 
C) 0.90 
D) 90 
E) 30 
A) 0.09 
B) 9.0 
C) 0.90 
D) 90 
E) 30

Question 20

On Monday mornings, customers arrive at the coffee shop drive thru at the rate of 6 cars per fifteen-minute interval.Using the Poisson distribution, the probability that five cars will arrive during the next fifteen-minute interval is _____________.

Accepted Answer

A) 0.1008 
B) 0.0361 
C) 0.1339 
D) 0.1606 
E) 0.5000 
A) 0.1008 
B) 0.0361 
C) 0.1339 
D) 0.1606 
E) 0.5000

The number of finance majors within the School of Business is an example of _______.

The number of bags arriving on the baggage claim conveyor belt in a 3-minute time period would best be modeled with the _________.

Aluminum castings are processed in lots of five each.A sample of two castings is randomly selected from each lot for inspection.A particular lot contains one defective casting; and x is the number of defective castings in the sample.P(x=0)is _______.

The Poisson distribution is being used to approximate a binomial distribution.If n=60 and p=0.02, what value of lambda would be used?

The Poisson distribution is a continuous distribution which is very useful in solving waiting time problems

If x is a binomial random variable with n=10 and p=0.8, the mean value of x is _____.

You are offered an investment opportunity.Its outcomes and probabilities are presented in the following table. P( ) -\ 1,000 40 \ 0 .20 +\ 1,000 .40 Which of the following statements is true?

The following graph is a binomial distribution with n = 6. This graph reveals that ____________.

Both the Poisson and the binomial distributions are discrete distributions and both have a given number of trials.

If x is a binomial random variable with n=10 and p=0.8, the standard deviation of x is _________.

If x has a binomial distribution with p = .5, then the distribution of x is ________.

In a binomial experiment, any single trial contains only two possible outcomes and successive trials are independent.

On Monday mornings, customers arrive at the coffee shop drive thru at the rate of 6 cars per fifteen-minute interval.Using the Poisson distribution, the probability that five cars will arrive during the next five-minute interval is _____________.

The Poisson distribution is being used to approximate a binomial distribution.If n=30 and p=0.03, what value of lambda would be used?

On Monday mornings, customers arrive at the coffee shop drive thru at the rate of 6 cars per fifteen-minute interval.Using the Poisson distribution, the probability that five cars will arrive during the next fifteen-minute interval is _____________.

Introduction to Statistics and Business Analytics

Visualizing Data With Charts and Graphs

Descriptive Statistics

Probability

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 5: Discrete Distributions

The number of finance majors within the School of Business is an example of _______.

The number of bags arriving on the baggage claim conveyor belt in a 3-minute time period would best be modeled with the _________.

Aluminum castings are processed in lots of five each.A sample of two castings is randomly selected from each lot for inspection.A particular lot contains one defective casting; and x is the number of defective castings in the sample.P(x=0)is _______.

The Poisson distribution is being used to approximate a binomial distribution.If n=60 and p=0.02, what value of lambda would be used?

The Poisson distribution is a continuous distribution which is very useful in solving waiting time problems

If x is a binomial random variable with n=10 and p=0.8, the mean value of x is _____.

You are offered an investment opportunity.Its outcomes and probabilities are presented in the following table. P( ) -\ 1,000 40 \ 0 .20 +\ 1,000 .40 Which of the following statements is true?

The following graph is a binomial distribution with n = 6. This graph reveals that ____________.

Both the Poisson and the binomial distributions are discrete distributions and both have a given number of trials.

If x is a binomial random variable with n=10 and p=0.8, the standard deviation of x is _________.

If x has a binomial distribution with p = .5, then the distribution of x is ________.

In a binomial experiment, any single trial contains only two possible outcomes and successive trials are independent.

On Monday mornings, customers arrive at the coffee shop drive thru at the rate of 6 cars per fifteen-minute interval.Using the Poisson distribution, the probability that five cars will arrive during the next five-minute interval is _____________.

The Poisson distribution is being used to approximate a binomial distribution.If n=30 and p=0.03, what value of lambda would be used?

On Monday mornings, customers arrive at the coffee shop drive thru at the rate of 6 cars per fifteen-minute interval.Using the Poisson distribution, the probability that five cars will arrive during the next fifteen-minute interval is _____________.

Introduction to Statistics and Business Analytics

Visualizing Data With Charts and Graphs

Descriptive Statistics

Probability

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