Exam 5: Normal, Binomial, Poisson, and Exponential Distributions
Exam 1: Introduction to Business Analytics29 Questions
Exam 2: Describing the Distribution of a Single Variable100 Questions
Exam 3: Finding Relationships Among Variables85 Questions
Exam 4: Probability and Probability Distributions114 Questions
Exam 5: Normal, Binomial, Poisson, and Exponential Distributions125 Questions
Exam 6: Decision Making Under Uncertainty107 Questions
Exam 7: Sampling and Sampling Distributions90 Questions
Exam 8: Confidence Interval Estimation84 Questions
Exam 9: Hypothesis Testing87 Questions
Exam 10: Regression Analysis: Estimating Relationships92 Questions
Exam 11: Regression Analysis: Statistical Inference82 Questions
Exam 12: Time Series Analysis and Forecasting106 Questions
Exam 13: Introduction to Optimization Modeling97 Questions
Exam 14: Optimization Models114 Questions
Exam 15: Introduction to Simulation Modeling82 Questions
Exam 16: Simulation Models102 Questions
Exam 17: Data Mining20 Questions
Exam 18: Importing Data Into Excel19 Questions
Exam 19: Analysis of Variance and Experimental Design20 Questions
Exam 20: Statistical Process Control20 Questions
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What is the probability that it will take a technician less than 10 minutes to fix a computer problem?
(Short Answer)
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What two dollar amounts, equidistant from the mean of $30, such that 90% of all customer purchases are between these values?
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What is the probability that the number of customers who arrive at this checkout counter in a given hour will be greater than 35?
(Short Answer)
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Using the standard normal distribution, the Z- score representing the 99th percentile is 2.326.
(True/False)
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The Poisson distribution is characterized by a single parameter
, which must be positive.

(True/False)
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What is the probability that at least 25 customers arrive at this checkout counter in a given hour?
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Which of the following might not be appropriately modeled with a normal distribution?
(Multiple Choice)
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If the random variable X is exponentially distributed with parameter
= 1.5, then P(2
X
4), up to 4 decimal places, is:



(Multiple Choice)
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A continuous random variable X has the probability density function: f(x) = 2
,
0
-What is the probability that X is at most 2?


(Short Answer)
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What number of cars, equidistant from the mean, such that 98% of car sales are between these values?
(Short Answer)
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The library is interested in estimating the number of individuals who use the computers during the lunch hour. Which probability distribution should they use?
(Multiple Choice)
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What is the probability that the number of customers who arrive at this checkout counter in a given hour will be between 30 and 35 (inclusive)?
(Short Answer)
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If the random variable X is normally distributed with mean
and standard deviation
, then the random variable Z defined by
is also normally distributed with mean 0 and standard deviation 1.



(True/False)
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For a given probability of success p that is not too close to 0 or 1, the binomial distribution tends to take on more of a symmetric bell shape as the number of trials n increases.
(True/False)
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(A) Using the binomial distribution, find the probability that 6 or more of the 30 students taking this course in a given semester will withdraw from the class.
(B) Using the normal approximation to the binomial, find the probability that 6 or more of the 30 students taking this course in a given semester will withdraw from the class.
(C) Compare the results obtained in (A) and (B). Under what conditions will the normal approximation to this binomial probability become even more accurate?
(Essay)
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What two dollar amounts, equidistant from the mean of $30, such that 98% of all customer purchases are between these values?
(Short Answer)
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Calculate the mean, variance, and standard deviation for the entire year (assume 52 weeks in the year).
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