Question 1

An experiment consists of making 80 telephone calls in order to sell a particular insurance policy. The random variable in this experiment is a

Accepted Answer

A)  discrete random variable 
B)  continuous random variable 
C)  complex random variable 
D)  simplex random variable 
A)  discrete random variable 
B)  continuous random variable 
C)  complex random variable 
D)  simplex random variable

Question 2

A company sells its products to wholesalers in batches of 1,000 units only. The daily demand for its product and the respective probabilities are given below.
 $\begin{array}{cc}\text { Demand Units) }&\text { Probability }\
0 & 0.2 \
1000 & 0.2 \
2000 & 0.3 \
3000 & 0.2 \
4000 & 0.1
\end{array}$ 
a. Determine the expected daily demand.
b. Assume that the company sells its product at $3.75 per unit. What is the expected daily revenue?

Accepted Answer

The answer of A company sells its products to wholesalers...

Question 3

A random variable x has the following probability distribution:
 $$\begin{array} { c c } 
x &fx) \
0 & .08 \
1 & .17 \
2 & .45\
3 & .25 \
4 & .05
\end{array}$$ 
a. Determine the expected value of x.
b. Determine the variance.

Accepted Answer

The answer of A random variable x has the following...

Question 4

Twenty percent of the students in a class of 100 are planning to go to graduate school. The standard deviation of this binomial distribution is

Accepted Answer

A)  20 
B)  16 
C)  4 
D)  2 
A)  20 
B)  16 
C)  4 
D)  2

Question 5

Assume that you have a binomial experiment with p = 0.4 and a sample size of 50. The variance of this distribution is

Accepted Answer

A)  20 
B)  12 
C)  3.46 
D)  144 
A)  20 
B)  12 
C)  3.46 
D)  144

Question 6

In the textile industry, a manufacturer is interested in the number of blemishes or flaws occurring in each 100 feet of material. The probability distribution that has the greatest chance of applying to this situation is the

Accepted Answer

A)  normal distribution 
B)  binomial distribution 
C)  Poisson distribution 
D)  uniform distribution 
A)  normal distribution 
B)  binomial distribution 
C)  Poisson distribution 
D)  uniform distribution

Question 7

Exhibit 5-3
Roth is a computer-consulting firm. The number of new clients that they have obtained each month has ranged from 0 to 6. The number of new clients has the probability distribution that is shown below.
 $$\begin{array} { c c } 
\text { Number of } & \
\text { New Clients } & \text { Prabability } \
0 & 0.05 \
1 & 0.10 \
2 & 0.15 \
3 & 0.35 \
4 & 0.20 \
5 & 0.10 \
6 & 0.05
\end{array}$$
-Refer to Exhibit 5-3. The standard deviation is

Accepted Answer

A)  1.431 
B)  2.047 
C)  3.05 
D)  21 
A)  1.431 
B)  2.047 
C)  3.05 
D)  21

Question 8

If you are conducting an experiment where the probability of a success is 0.2 per day and you are interested in finding the probability of 4 successes in in three days, the correct probability function to use is

Accepted Answer

A)  the standard normal probability density function 
B)  the normal probability density function 
C)  the Poisson probability function 
D)  any probability as long as the tables are available 
A)  the standard normal probability density function 
B)  the normal probability density function 
C)  the Poisson probability function 
D)  any probability as long as the tables are available

Question 9

Two percent of the parts produced by a machine are defective. Twenty parts are selected at random. Use the binomial probability tables to answer the following questions.
a. What is the probability that exactly 3 parts will be defective?
b. What is the probability that the number of defective parts will be more than 2 but fewer than 6?
c. What is the probability that fewer than 4 parts will be defective?
d. What is the expected number of defective parts?
e. What is the variance for the number of defective parts?

Accepted Answer

a. 0.0065

Question 10

A production process produces 2% defective parts. A sample of five parts from the production process is selected. What is the probability that the sample contains exactly two defective parts?

Accepted Answer

A)  0.0004 
B)  0.0038 
C)  0.10 
D)  0.02 
A)  0.0004 
B)  0.0038 
C)  0.10 
D)  0.02

Question 11

Shoppers enter Hamilton Place Mall at an average of 120 per hour.
a. What is the probability that exactly 5 shoppers will enter the mall between noon and 12:05 p.m.?
b. What is the probability that at least 35 shoppers will enter the mall between 5:00 and 5:10 p.m.?

Accepted Answer

The answer of Shoppers enter Hamilton Place Mall at an...

Question 12

A weighted average of the value of a random variable, where the probability function provides weights is known as

Accepted Answer

A)  a probability function 
B)  a random variable 
C)  the expected value 
D)  random function 
A)  a probability function 
B)  a random variable 
C)  the expected value 
D)  random function

Question 13

The Poisson probability distribution is used with

Accepted Answer

A)  a continuous random variable 
B)  a discrete random variable 
C)  either a continuous or discrete random variable 
D)  any random variable 
A)  a continuous random variable 
B)  a discrete random variable 
C)  either a continuous or discrete random variable 
D)  any random variable

Question 14

Which of the following is not a required condition for a discrete probability function?

Accepted Answer

A)  fx) ≥ 0 for all values of x 
B)  ∑fx) = 1 for all values of x 
C)  ∑fx) = 0 for all values of x 
D)  ∑fx) ≥ 1 for all values of x 
A)  fx) ≥ 0 for all values of x 
B)  ∑fx) = 1 for all values of x 
C)  ∑fx) = 0 for all values of x 
D)  ∑fx) ≥ 1 for all values of x

Question 15

A manufacturing company has 5 identical machines that produce nails. The probability that a machine will break down on any given day is .1. Define a random variable X to be the number of machines that will break down in a day.
a. What is the appropriate probability distribution for X? Explain how X satisfies the properties of the distribution.
b. Compute the probability that 4 machines will break down.
c. Compute the probability that at least 4 machines will break down.
d. What is the expected number of machines that will break down in a day?
e. What is the variance of the number of machines that will break down in a day?

Accepted Answer

a. binomia

Question 16

Exhibit 5-9
The probability distribution for the daily sales at Michael's Co. is given below.
 $\begin{array}{cc}\text { Daily Sales }\
\text { In } \$ 1,000 \text { s) }&\text { Probability }\
40 & 0.1 \
50 & 0.4 \
60 & 0.3 \
70 & 0 ?
\end{array}$
-Refer to Exhibit 5-9. The probability of having sales of at least $50,000 is

Accepted Answer

A)  0.5 
B)  0.10 
C)  0.30 
D)  0.90 
A)  0.5 
B)  0.10 
C)  0.30 
D)  0.90

Question 17

A life insurance company has determined that each week an average of seven claims is filed in its Nashville branch.
a. What is the probability that during the next week exactly seven claims will be filed?
b. What is the probability that during the next week no claims will be filed?
c. What is the probability that during the next week fewer than four claims will be filed?
d. What is the probability that during the next week at least seventeen claims will be filed?

Accepted Answer

a. 0.1490

Question 18

The random variable x has the following probability distribution:
 $$\begin{array} { c c } 
x &fx) \
0 & .25 \
1 & .20 \
2 & .15 \
3 & .30 \
4 & .10
\end{array}$$ 
a. Is this probability distribution valid? Explain and list the requirements for a valid probability distribution.
b. Calculate the expected value of x.
c. Calculate the variance of x.
d. Calculate the standard deviation of x.

Accepted Answer

a. yes fx) ≥ 0 and ∑

Question 19

A salesperson contacts eight potential customers per day. From past experience, we know that the probability of a potential customer making a purchase is .10.
a. What is the probability the salesperson will make exactly two sales in a day?
b. What is the probability the salesperson will make at least two sales in a day?
c. What percentage of days will the salesperson not make a sale?
d. What is the expected number of sales per day?

Accepted Answer

a. 0.1488

Question 20

The number of customers that enter a store during one day is an example of

Accepted Answer

A)  a continuous random variable 
B)  a discrete random variable 
C)  either a continuous or a discrete random variable, depending on the number of the customers 
D)  either a continuous or a discrete random variable, depending on the gender of the customers 
A)  a continuous random variable 
B)  a discrete random variable 
C)  either a continuous or a discrete random variable, depending on the number of the customers 
D)  either a continuous or a discrete random variable, depending on the gender of the customers

An experiment consists of making 80 telephone calls in order to sell a particular insurance policy. The random variable in this experiment is a

A random variable x has the following probability distribution: x fx) 0 .08 1 .17 2 .45 3 .25 4 .05 a. Determine the expected value of x. b. Determine the variance.

Twenty percent of the students in a class of 100 are planning to go to graduate school. The standard deviation of this binomial distribution is

Assume that you have a binomial experiment with p = 0.4 and a sample size of 50. The variance of this distribution is

In the textile industry, a manufacturer is interested in the number of blemishes or flaws occurring in each 100 feet of material. The probability distribution that has the greatest chance of applying to this situation is the

If you are conducting an experiment where the probability of a success is 0.2 per day and you are interested in finding the probability of 4 successes in in three days, the correct probability function to use is

A production process produces 2% defective parts. A sample of five parts from the production process is selected. What is the probability that the sample contains exactly two defective parts?

Shoppers enter Hamilton Place Mall at an average of 120 per hour. a. What is the probability that exactly 5 shoppers will enter the mall between noon and 12:05 p.m.? b. What is the probability that at least 35 shoppers will enter the mall between 5:00 and 5:10 p.m.?

A weighted average of the value of a random variable, where the probability function provides weights is known as

The Poisson probability distribution is used with

Which of the following is not a required condition for a discrete probability function?

Exhibit 5-9 The probability distribution for the daily sales at Michael's Co. is given below. Daily Sales In \ 1,000 s) Probability 40 0.1 50 0.4 60 0.3 70 0? -Refer to Exhibit 5-9. The probability of having sales of at least $50,000 is

The number of customers that enter a store during one day is an example of

Data and Statistics

Descriptive Statistics: Tabular and Graphical Displays

Descriptive Statistics: Numerical Measures

Introduction to Probability

Continuous Probability Distributions

Sampling and Sampling Distributions

Interval Estimation

Hypothesis Tests

Comparisons Involving Means, Experimental Design, and Analysis of Variance

Comparisons Involving Proportions and a Test of Independence

Simple Linear Regression

Multiple Regression

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Exam 5: Discrete Probability Distributions

An experiment consists of making 80 telephone calls in order to sell a particular insurance policy. The random variable in this experiment is a

A random variable x has the following probability distribution: x fx) 0 .08 1 .17 2 .45 3 .25 4 .05 a. Determine the expected value of x. b. Determine the variance.

Twenty percent of the students in a class of 100 are planning to go to graduate school. The standard deviation of this binomial distribution is

Assume that you have a binomial experiment with p = 0.4 and a sample size of 50. The variance of this distribution is

In the textile industry, a manufacturer is interested in the number of blemishes or flaws occurring in each 100 feet of material. The probability distribution that has the greatest chance of applying to this situation is the

If you are conducting an experiment where the probability of a success is 0.2 per day and you are interested in finding the probability of 4 successes in in three days, the correct probability function to use is

A production process produces 2% defective parts. A sample of five parts from the production process is selected. What is the probability that the sample contains exactly two defective parts?

Shoppers enter Hamilton Place Mall at an average of 120 per hour. a. What is the probability that exactly 5 shoppers will enter the mall between noon and 12:05 p.m.? b. What is the probability that at least 35 shoppers will enter the mall between 5:00 and 5:10 p.m.?

A weighted average of the value of a random variable, where the probability function provides weights is known as

The Poisson probability distribution is used with

Which of the following is not a required condition for a discrete probability function?

Exhibit 5-9 The probability distribution for the daily sales at Michael's Co. is given below. Daily Sales In \ 1,000 s) Probability 40 0.1 50 0.4 60 0.3 70 0? -Refer to Exhibit 5-9. The probability of having sales of at least $50,000 is

The number of customers that enter a store during one day is an example of

Data and Statistics

Descriptive Statistics: Tabular and Graphical Displays

Descriptive Statistics: Numerical Measures

Introduction to Probability

Continuous Probability Distributions

Sampling and Sampling Distributions

Interval Estimation

Hypothesis Tests

Comparisons Involving Means, Experimental Design, and Analysis of Variance

Comparisons Involving Proportions and a Test of Independence

Simple Linear Regression

Multiple Regression

Filters