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According to the Mortgage Bankers Association, 11% of U.S. mortgages were delinquent last year. A delinquent mortgage is one that has missed at least one payment but has not yet gone to foreclosure. A random sample of eight mortgages was selected. What is the probability that less than three of these mortgages are delinquent?
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(Multiple Choice)
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Correct Answer:
B
A statistics class at Wilmington College has 25 students of which 15 are math majors and 10 are business majors. The professor randomly selects five students to work together on a group project. What is the mean of this probability distribution if selecting a business major is defined as a success?
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(Multiple Choice)
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Correct Answer:
C
Assume that the number of pieces of junk mail per day that a person receives in their mail box follows the Poisson distribution and averages 4.3 pieces per day. What is the probability that this person will not receive any junk mail tomorrow?
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(Multiple Choice)
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Correct Answer:
B
The mean of a discrete probability distribution is the weighted average of the outcomes of the random variables that comprise it.
(True/False)
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A ______ distribution is useful for calculating the probability that a certain number of events will occur over a specific interval of time or space.
(Multiple Choice)
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According to the Centers for Medicare & Medicaid Services, 21% of nursing homes in the United States received five stars in overall ratings on a scale of 1 to 5. A random sample of seven nursing homes was selected. What is the probability that more than one of them received five stars?
(Multiple Choice)
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A camera manufacturer just shipped a batch of 36 digital cameras to local retailers and seven of the cameras have a defective sensor. Cutler Electronics received eight of these digital cameras. What is the probability that three or four of the cameras shipped to Cutler are defective?
(Multiple Choice)
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According to the Mortgage Bankers Association, 11% of U.S. mortgages were delinquent last year. A delinquent mortgage is one that has missed at least one payment but has not yet gone to foreclosure. A random sample of eight mortgages was selected. What is the mean of this distribution?
(Multiple Choice)
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Discrete random variables have outcomes that take on any numerical value as a result of conducting an experiment.
(True/False)
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A listing of all the possible outcomes of an experiment for a discrete random variable along with the relative frequency of each outcome is called a discrete probability distribution.
(True/False)
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The --------- of a discrete probability distribution measures the dispersion of each outcome of the random variable from the mean of the distribution.
(Multiple Choice)
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The mean and the variance are equal for a ------- probability distribution.
(Multiple Choice)
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According to LIMRA, 77% of husband-wife families with kids under 18 years old have life insurance. A random sample of six husband-wife families was selected. What is the probability that less than two families have life insurance?
(Multiple Choice)
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A camera manufacturer just shipped a batch of 36 digital cameras to local retailers and seven of the cameras have a defective sensor. Cutler Electronics received eight of these digital cameras. What is the mean of this probability distribution?
(Multiple Choice)
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According to the Centers for Medicare & Medicaid Services, 21% of nursing homes in the United States received five stars in overall ratings on a scale of 1 to 5. A random sample of seven nursing homes was selected. What is the mean of this distribution?
(Multiple Choice)
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The ounces of soda consumed by an adult next month are an example of a discrete random variable.
(True/False)
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A camera manufacturer just shipped a batch of 36 digital cameras to local retailers and seven of the cameras have a defective sensor. Cutler Electronics received eight of these digital cameras. What is the standard deviation of this probability distribution?
(Multiple Choice)
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According to the Insurance Research Council, 14% of U.S. drivers are uninsured. A random sample of seven drivers was selected. What is the standard deviation of this distribution?
(Multiple Choice)
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The mean of a discrete probability distribution needs to equal one of the values of the random variables.
(True/False)
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Which of the following is not a condition of a discrete probability distribution?
(Multiple Choice)
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