Exam 4: Probability

A market research firms conducts studies regarding the success of new products.The company is not always perfect in predicting the success.Suppose that there is a 50% chance that any new product would be successful (and a 50% chance that it would fail).In the past, for all new products that ultimately were successful, 80% were predicted to be successful (and the other 20% were inaccurately predicted to be failures).Also, for all new products that were ultimately failures, 70% were predicted to be failures (and the other 30% were inaccurately predicted to be successes).What is the a priori probability that a new product would be a success?

(Multiple Choice)

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Question 41

The probability of at least one of two events occurring would be an example of a____________ probability.

(Multiple Choice)

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Question 42

Buyers of television sets are offered a choice of one of three different styles.How many different outcomes could result if two customers make a selection?

(Multiple Choice)

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Question 43

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the following joint probability table that was developed from the dealer's records for the previous year what is P(Female)? __________.

(Multiple Choice)

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Question 44

Belinda Bose is reviewing a newly proposed advertising campaign.Based on her 15 years experience, she believes the campaign has a 75% chance of significantly increasing brand name recognition of the product.This is an example of assigning probabilities using the ___ method.

(Multiple Choice)

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Question 45

Given P (A)= 0.45, P (B)= 0.30, P (A $\cap$ B)= 0.05.Find P (A|B).

(Multiple Choice)

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Question 46

The law of multiplication gives the probability that at least one of the two events will occur.

(True/False)

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Question 47

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' If a stock is selected randomly from Meagan's portfolio, P (Airlines|Income)= ___.

(Multiple Choice)

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Question 48

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

(True/False)

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Question 49

There are 4 simple events in a two-coin toss experiment.

(True/False)

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Question 50

Given the following joint probability table, find the probability that a dog is small and takes less than 30-minute walks?

(Multiple Choice)

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Question 51

Which of the following is a legitimate probability value?

(Multiple Choice)

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Question 52

The symbol $\cup$ represents the union of two events.

(True/False)

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Question 53

A joint probability is the same as the intersection of two or more events.

(True/False)

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Question 54

An analysis of personal loans at a local bank revealed the following facts: 10% of all personal loans are in default (D), 90% of all personal loans are not in default (D΄), 20% of those in default are homeowners (H | D), and 70% of those not in default are homeowners (H | D΄).If a personal loan is selected at random, P (D | H)= ___.

(Multiple Choice)

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Question 55

In the conditional probability P(E₁|E₂)is interpreted as given that E₂ has occurred what is the probability of E₁ occurring.

(True/False)

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Question 56

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Which of the following statements is true?

(Multiple Choice)

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Question 57

Given P (A)= 0.40, P (B)= 0.50, P (A $\cap$ B)= 0.15.Find P (A|B).

(Multiple Choice)

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Question 58

Max Sandlin is exploring the characteristics of stock market investors.He found that 60% of all investors have a net worth exceeding $1,000,000; 20% of all investors use an online brokerage; and 10% of all investors a have net worth exceeding $1,000,000 and use an online brokerage.An investor is selected randomly, and E is the event "net worth exceeds $1,000,000" and O is the event "uses an online brokerage." P(O $\cup$ E)= ___.

(Multiple Choice)

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Question 59

Given P (A)= 0.45, P (B)= 0.30, P (A $\cap$ B)= 0.05.Find P (B|A).

(Multiple Choice)

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Question 60

Showing 41 - 60 of 122

The probability of at least one of two events occurring would be an example of a____________ probability.

Buyers of television sets are offered a choice of one of three different styles.How many different outcomes could result if two customers make a selection?

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the following joint probability table that was developed from the dealer's records for the previous year what is P(Female)? __________.

Belinda Bose is reviewing a newly proposed advertising campaign.Based on her 15 years experience, she believes the campaign has a 75% chance of significantly increasing brand name recognition of the product.This is an example of assigning probabilities using the ___ method.

Given P (A)= 0.45, P (B)= 0.30, P (A $\cap$ B)= 0.05.Find P (A|B).

The law of multiplication gives the probability that at least one of the two events will occur.

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' If a stock is selected randomly from Meagan's portfolio, P (Airlines|Income)= ___.

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

There are 4 simple events in a two-coin toss experiment.

Given the following joint probability table, find the probability that a dog is small and takes less than 30-minute walks?

Which of the following is a legitimate probability value?

The symbol $\cup$ represents the union of two events.

A joint probability is the same as the intersection of two or more events.

In the conditional probability P(E₁|E₂)is interpreted as given that E₂ has occurred what is the probability of E₁ occurring.

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Which of the following statements is true?

Given P (A)= 0.40, P (B)= 0.50, P (A $\cap$ B)= 0.15.Find P (A|B).

Given P (A)= 0.45, P (B)= 0.30, P (A $\cap$ B)= 0.05.Find P (B|A).

Introduction to Statistics

Charts and Graphs

Descriptive Statistics

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Exam 4: Probability

The probability of at least one of two events occurring would be an example of a____________ probability.

Buyers of television sets are offered a choice of one of three different styles.How many different outcomes could result if two customers make a selection?

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the following joint probability table that was developed from the dealer's records for the previous year what is P(Female)? __________.

Belinda Bose is reviewing a newly proposed advertising campaign.Based on her 15 years experience, she believes the campaign has a 75% chance of significantly increasing brand name recognition of the product.This is an example of assigning probabilities using the ___ method.

Given P (A)= 0.45, P (B)= 0.30, P (A ∩\cap∩ B)= 0.05.Find P (A|B).

The law of multiplication gives the probability that at least one of the two events will occur.

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' If a stock is selected randomly from Meagan's portfolio, P (Airlines|Income)= ___.

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

There are 4 simple events in a two-coin toss experiment.

Given the following joint probability table, find the probability that a dog is small and takes less than 30-minute walks?

Which of the following is a legitimate probability value?

The symbol ∪\cup∪ represents the union of two events.

A joint probability is the same as the intersection of two or more events.

In the conditional probability P(E1|E2)is interpreted as given that E2 has occurred what is the probability of E1 occurring.

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Which of the following statements is true?

Given P (A)= 0.40, P (B)= 0.50, P (A ∩\cap∩ B)= 0.15.Find P (A|B).

Given P (A)= 0.45, P (B)= 0.30, P (A ∩\cap∩ B)= 0.05.Find P (B|A).

Introduction to Statistics

Charts and Graphs

Descriptive Statistics

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Given P (A)= 0.45, P (B)= 0.30, P (A $\cap$ B)= 0.05.Find P (A|B).

The symbol $\cup$ represents the union of two events.

In the conditional probability P(E₁|E₂)is interpreted as given that E₂ has occurred what is the probability of E₁ occurring.

Given P (A)= 0.40, P (B)= 0.50, P (A $\cap$ B)= 0.15.Find P (A|B).

Given P (A)= 0.45, P (B)= 0.30, P (A $\cap$ B)= 0.05.Find P (B|A).