NARRBEGIN: Hobby Shop Sales Hobby Shop Sales Sales records of a hobby shop showed the following number of radio controlled trucks sold weekly for each of the last 50 weeks. \[\begin{array} { | c | c | } \hline \text { Number of Trucks Sold } & \text { Number of Weeks } \\ \hline 0 & 20 \\ 1 & 15 \\ 2 & 10 \\ 3 & 4 \\ 4 & 1 \\ \hline \end{array}\] NARREND -{Hobby Shop Sales Narrative} What is the probability of selling at least two trucks in any given week?

The answer of NARRBEGIN: Hobby Shop Sales Hobby Shop Sales Sales records...

NARRBEGIN: Equity Loan Rates Equity Loan Rates A survey of banks estimated the following probabilities for the interest rate being charged on a equity loan based on a 30-year loan, based on past records. \[\begin{array} { | l | c c c c c | } \hline \text { Interest Rate } & 0.0 \% & 6.5 \% & 7.0 \% & 7.5 \% & > 7.5 \% \\ \hline \text { Probability } & 0.20 & 0.23 & 0.25 & 0.28 & .04 \\ \hline \end{array}\] NARREND -{Equity Loan Rates Narrative} If a bank is selected at random from this distribution, what is the probability that the interest rate charged on a home loan exceeds 7.0%?

The answer of NARRBEGIN: Equity Loan Rates Equity Loan Rates A survey...

NARRBEGIN: GPA and Class GPA and Class A college professor classifies his students according to their grade point average (GPA) and their class rank. GPA is on a 0.0-4.0 scale, and class rank is defined as the under class (freshmen and sophomores) and the upper class (juniors and seniors). One student is selected at random. \[\begin{array} { | l | c c c | } \hline&& { \text { GPA } } \\ \hline \text { Class } & \text { Under 2.0 } & \text { 2.0- 3. 0 } & \text { Over 3.0 } \\ \hline \text { Under } & 0.05 & 0.25 & 0.10 \\ \text { Upper } & 0.10 & 0.30 & 0.20\\\hline \end{array}\] NARREND -{GPA and Class Narrative} If the GPA of the student selected is over 3.0, what is the probability that the student is in the lower class?

The answer of NARRBEGIN: GPA and Class GPA and Class A college...

NARRBEGIN: Hobby Shop Sales Hobby Shop Sales Sales records of a hobby shop showed the following number of radio controlled trucks sold weekly for each of the last 50 weeks. \[\begin{array} { | c | c | } \hline \text { Number of Trucks Sold } & \text { Number of Weeks } \\ \hline 0 & 20 \\ 1 & 15 \\ 2 & 10 \\ 3 & 4 \\ 4 & 1 \\ \hline \end{array}\] NARREND -{Hobby Shop Sales Narrative} What is the probability of selling between 1 and 3 (inclusive) trucks in any given week?

The answer of NARRBEGIN: Hobby Shop Sales Hobby Shop Sales Sales records...

Exam 6: Probability

NARRBEGIN: Cysts Cysts After researching cysts of a particular type, a doctor learns that out of 10,000 such cysts examined, 1,500 are malignant and 8,500 are benign. A diagnostic test is available which is accurate 80% of the time (whether the cyst is malignant or not). The doctor has discovered the same type of cyst in a patient.NARREND -{Cysts Narrative} What is the probability that the patient has a benign tumor if he or she tests positive?

Free

(Essay)

4.8/5

(30)

Question 1

Correct Answer:

Verified

P(B/+) = P(+ and B) / P(+) = P(+/B) · P(B) / P(+) = (.20)(.85) / (.29) = .586

NARRBEGIN: Cysts Cysts After researching cysts of a particular type, a doctor learns that out of 10,000 such cysts examined, 1,500 are malignant and 8,500 are benign. A diagnostic test is available which is accurate 80% of the time (whether the cyst is malignant or not). The doctor has discovered the same type of cyst in a patient.NARREND -{Cysts Narrative} What is the probability that the patient will test positive?

Free

(Essay)

5.0/5

(35)

Question 2

Correct Answer:

Verified

$\begin{aligned}P ( + ) & = P ( + \text { and } M ) + P ( + \text { and } E ) = P ( + |M ) \cdot P ( M ) + P ( + | D ) \cdot P ( B ) \\& = ( 80 ) ( .15 ) + ( .20 ) ( .85 ) = .29\end{aligned}$

There are ____________________ requirements of probabilities for the outcomes of a sample space.

Free

(Short Answer)

4.8/5

(30)

Question 3

Correct Answer:

Verified

two
2

NARRBEGIN: Hobby Shop Sales Hobby Shop Sales Sales records of a hobby shop showed the following number of radio controlled trucks sold weekly for each of the last 50 weeks. Number of Trucks Sold Number of Weeks 0 20 1 15 2 10 3 4 4 1 NARREND -{Hobby Shop Sales Narrative} What is the probability of selling at least two trucks in any given week?

(Short Answer)

4.9/5

(42)

Question 4

If P(A) = 0.20, P(B) = 0.30, and P(A and B) = 0, then A and B are:

(Multiple Choice)

4.9/5

(36)

Question 5

Events A and B are either independent or mutually exclusive.

(True/False)

4.8/5

(32)

Question 6

NARRBEGIN: Equity Loan Rates Equity Loan Rates A survey of banks estimated the following probabilities for the interest rate being charged on a equity loan based on a 30-year loan, based on past records. Interest Rate 0.0\% 6.5\% 7.0\% 7.5\% >7.5\% Probability 0.20 0.23 0.25 0.28 .04 NARREND -{Equity Loan Rates Narrative} If a bank is selected at random from this distribution, what is the probability that the interest rate charged on a home loan exceeds 7.0%?

(Short Answer)

4.9/5

(29)

Question 7

Which of the following statements is false?

(Multiple Choice)

4.9/5

(39)

Question 8

A(n) ____________________ is a collection or set of one or more simple events in a sample space.

(Short Answer)

4.8/5

(37)

Question 9

The probability of an intersection of two events is called a(n) ____________________ probability.

(Short Answer)

4.7/5

(31)

Question 10

NARRBEGIN: Construction Bids Construction Bids A construction company has submitted bids on two separate state contracts, A and B. The company feels that it has a 60% chance of winning contract A, and a 50% chance of winning contract B. Furthermore, the company believes that it has an 80% chance of winning contract A if it wins contract B.NARREND -{Construction Bids Narrative} What is the probability that the company will win at most one of the two contracts?

(Essay)

4.8/5

(37)

Question 11

If P(B) = .7 and P(B|A) = .4, then P(A and B) must be .28.

(True/False)

5.0/5

(35)

Question 12

Bayes' Law involves three different types of probabilities: 1) ____________________ probabilities; 2) likelihood probabilities; and 3) posterior probabilities.

(Short Answer)

4.8/5

(31)

Question 13

NARRBEGIN: GPA and Class GPA and Class A college professor classifies his students according to their grade point average (GPA) and their class rank. GPA is on a 0.0-4.0 scale, and class rank is defined as the under class (freshmen and sophomores) and the upper class (juniors and seniors). One student is selected at random. GPA Class Under 2.0 2.0- 3. 0 Over 3.0 Under 0.05 0.25 0.10 Upper 0.10 0.30 0.20 NARREND -{GPA and Class Narrative} If the GPA of the student selected is over 3.0, what is the probability that the student is in the lower class?

(Short Answer)

4.9/5

(35)

Question 14

The probability of the union of two mutually exclusive events A and B is 0.

(True/False)

4.7/5

(36)

Question 15

If the event of interest is A, the probability that A will not occur is the complement of A.

(True/False)

4.8/5

(37)

Question 16

A conditional probability of A given B is written in probability notation as ____________________.

(Short Answer)

4.9/5

(36)

Question 17

Predicting the outcome of a football game is using the subjective approach to probability.

(True/False)

4.9/5

(31)

Question 18

Bayes' Law involves three different types of probabilities: 1) prior probabilities; 2) likelihood probabilities; and 3) ____________________ probabilities.

(Short Answer)

4.9/5

(31)

Question 19

NARRBEGIN: Hobby Shop Sales Hobby Shop Sales Sales records of a hobby shop showed the following number of radio controlled trucks sold weekly for each of the last 50 weeks. Number of Trucks Sold Number of Weeks 0 20 1 15 2 10 3 4 4 1 NARREND -{Hobby Shop Sales Narrative} What is the probability of selling between 1 and 3 (inclusive) trucks in any given week?

(Short Answer)

4.9/5

(38)

Question 20

There are ____________________ requirements of probabilities for the outcomes of a sample space.

If P(A) = 0.20, P(B) = 0.30, and P(A and B) = 0, then A and B are:

Events A and B are either independent or mutually exclusive.

Which of the following statements is false?

A(n) ____________________ is a collection or set of one or more simple events in a sample space.

The probability of an intersection of two events is called a(n) ____________________ probability.

If P(B) = .7 and P(B|A) = .4, then P(A and B) must be .28.

Bayes' Law involves three different types of probabilities: 1) ____________________ probabilities; 2) likelihood probabilities; and 3) posterior probabilities.

The probability of the union of two mutually exclusive events A and B is 0.

If the event of interest is A, the probability that A will not occur is the complement of A.

A conditional probability of A given B is written in probability notation as ____________________.

Predicting the outcome of a football game is using the subjective approach to probability.

Bayes' Law involves three different types of probabilities: 1) prior probabilities; 2) likelihood probabilities; and 3) ____________________ probabilities.

What Is Statistics

Graphical Descriptive Techniques I

Graphical Descriptive Techniques II

Numerical Descriptive Techniques

Data Collection and Sampling

Random Variables and Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Introduction to Estimation

Introduction to Hypothesis Testing

Inference About a Population

Inference About Comparing Two Populations

Analysis of Variance

Chi-Squared Tests Optional

Simple Linear Regression and Correlation

Multiple Regression

Filters