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Exam 4: Probability and Probability Distributions

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Exam 1: Introduction to Business Analytics29 Questionsadd course
Exam 2: Describing the Distribution of a Single Variable100 Questionsadd course
Exam 3: Finding Relationships Among Variables85 Questionsadd course
Exam 4: Probability and Probability Distributions114 Questionsadd course
Exam 5: Normal, Binomial, Poisson, and Exponential Distributions125 Questionsadd course
Exam 6: Decision Making Under Uncertainty107 Questionsadd course
Exam 7: Sampling and Sampling Distributions90 Questionsadd course
Exam 8: Confidence Interval Estimation84 Questionsadd course
Exam 9: Hypothesis Testing87 Questionsadd course
Exam 10: Regression Analysis: Estimating Relationships92 Questionsadd course
Exam 11: Regression Analysis: Statistical Inference82 Questionsadd course
Exam 12: Time Series Analysis and Forecasting106 Questionsadd course
Exam 13: Introduction to Optimization Modeling97 Questionsadd course
Exam 14: Optimization Models114 Questionsadd course
Exam 15: Introduction to Simulation Modeling82 Questionsadd course
Exam 16: Simulation Models102 Questionsadd course
Exam 17: Data Mining20 Questionsadd course
Exam 18: Importing Data Into Excel19 Questionsadd course
Exam 19: Analysis of Variance and Experimental Design20 Questionsadd course
Exam 20: Statistical Process Control20 Questionsadd course
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The probabilities shown in a table with two rows, The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: and The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: and two columns, The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: and The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: , are as follows: P( The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: and The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: ) = .10, P( The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: and The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: ) = .30, P( The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: and The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: ) = .05, and P( The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: and The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: ) = .55. Then P( The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: | The probabilities shown in a table with two rows, and and two columns, and , are as follows: P( and ) = .10, P( and ) = .30, P( and ) = .05, and P( and ) = .55. Then P( | ), calculated up to two decimals, is: ), calculated up to two decimals, is:

(Multiple Choice)
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Question 61

If A and B are mutually exclusive events with P(A) = 0.70, then P(B):

(Multiple Choice)
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Question 62

If P(A and B) = 0, then A and B must be collectively exhaustive.

(True/False)
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Question 63

What is the probability that the demand for this product will be above its mean in the upcoming quarter?

(Short Answer)
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Question 64

The probability of an event and the probability of its complement always sum to:

(Multiple Choice)
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Question 65

A random variable is a function that associates a numerical value with each possible outcome of a random phenomenon.

(True/False)
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Question 66

If it costs $200,000 to drill each well and a successful well will produce $1,000,000 worth of oil over its lifetime, what is the expected net value of this three-well program if no wells are successful?

(Short Answer)
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Question 67

Does consumer behavior depend on the gender of consumer? Explain using probabilities.

(Essay)
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Question 68

What is the probability a randomly selected patron is a female who prefers beer?

(Short Answer)
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Question 69

Suppose A and B are mutually exclusive events where P(A) = 0.3 and P(B) = 0.4. Then, P(A and B) = 0.12.

(True/False)
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Question 70

Two events are said to be independent when knowledge of one event is of no value when assessing the probability of the other.

(True/False)
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Question 71

What is the probability that no one is waiting or being served in the regular checkout line?

(Short Answer)
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Question 72

What is the probability that a respondent chosen at random does not enjoy shopping for clothing?

(Essay)
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Question 73

Given that events A and B are independent and that P(A) = 0.8 and P(B/A) = 0.4, then P(A and B) = 0.32.

(True/False)
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Question 74

Suppose A and B are two events where P(A) = 0.5, P(B) = 0.4, and P(A and B) = 0.2, then P(B/A) = 0.5.

(True/False)
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Question 75

Two or more events are said to be exhaustive if at most one of them can occur.

(True/False)
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Question 76

If A and B are mutually exclusive events with P(A) = 0.30 and P(B) = 0.40, then the probability that either A or B occur is:

(Multiple Choice)
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Question 77

What is the probability that a respondent chosen at random is a male and does not enjoy shopping for clothing?

(Essay)
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Question 78

What is the probability that any well will not be successful?

(Short Answer)
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Question 79

(A) What is the expected completion time (in months) from now for this project? (B) How much variability (in months) exists around the expected value found in (A)?

(Short Answer)
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Question 80
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