Question 1

Events are considered _____ if they include all outcomes in the sample space.

Accepted Answer

A)  posterior 
B)  exhaustive 
C)  a sample 
D)  a rule 
A)  posterior 
B)  exhaustive 
C)  a sample 
D)  a rule

Question 2

Mutually exclusive events __________.

Accepted Answer

A)  have joint probability of zero 
B)  contain the multiple of two probabilities 
C)  are conditional on interest 
D)  contain all possible experiment outcomes 
A)  have joint probability of zero 
B)  contain the multiple of two probabilities 
C)  are conditional on interest 
D)  contain all possible experiment outcomes

Question 3

The Daytona 500 runs 40 race cars. Of the 40, 19 cars crashed. This is a probability of 0.475 that a car will crash in the race. This is an example of which probability?

Accepted Answer

A)  subjective 
B)  empirical 
C)  classical 
D)  random 
A)  subjective 
B)  empirical 
C)  classical 
D)  random

Question 4

In Holland, 60% of the people own a car. If five adults are randomly selected, what is the probability that none of the five have a car?

Accepted Answer

A)  7.8% 
B)  1.02% 
C)  40% 
D)  1.03% 
A)  7.8% 
B)  1.02% 
C)  40% 
D)  1.03%

Question 5

Simone, owner of the Blue Canoe Coffee Shop, ran a report showing the identified valued customer visits the shop on average 12 times in a 60-day period. Simone now wants to break down the information further to determine how many visits she should expect in a 5-day period from a tracked value customer. How many visits should Simone expect?

Accepted Answer

A)  1 
B)  3 
C)  2 
D)  4 
A)  1 
B)  3 
C)  2 
D)  4

Question 6

The intersection of two events is denoted as __________.

Accepted Answer

A)  A $\cap$ B 
B)  A $\cup$ B 
C)  P (A $\cup$ 
B)  ² 
D)  P (Ac) = 1 - P(
A)  
A)  A $\cap$ B 
B)  A $\cup$ B 
C)  P (A $\cup$ 
B)  ² 
D)  P (Ac) = 1 - P(
A)

Question 7

Andrea decided her job opportunities will increase conditional on completing her bachelor's degree. Based on her assumption, what probability would best fit?

Accepted Answer

A)  classical probability 
B)  conditional probability 
C)  complement rule 
D)  empirical probability 
A)  classical probability 
B)  conditional probability 
C)  complement rule 
D)  empirical probability

Question 8

Two events are _____ if the occurrence of one event does not affect the probability occurrence of another.

Accepted Answer

A)  simple 
B)  dependent 
C)  independent 
D)  comparative 
A)  simple 
B)  dependent 
C)  independent 
D)  comparative

Question 9

Marketing analysis determined 44% of females between the ages of 25 and 34 years search for green technology and practice being green, as compared to 32% of men in the same age group. What is the probability that a randomly selected woman between the age of 25 and 34 does not search for green technology?

Accepted Answer

A)  12% probability 
B)  68% probability 
C)  56% probability 
D)  44% probability 
A)  12% probability 
B)  68% probability 
C)  56% probability 
D)  44% probability

Question 10

In Holland, 30% of the people own a car. If five adults are randomly selected, what is the probability that no more than two own a car?

Accepted Answer

A)  37.2% probability that more than two own a car. 
B)  30.9% probability that more than two own a car. 
C)  66.8% probability that no more than two own a car. 
D)  83.7% probability that no more than two own a car. 
A)  37.2% probability that more than two own a car. 
B)  30.9% probability that more than two own a car. 
C)  66.8% probability that no more than two own a car. 
D)  83.7% probability that no more than two own a car.

Question 11

Howard Simpson at Organics Central Market ran a report showing the identified valued customer visits the market on average 12 times in a 30-day period. Howard now wants to break down the information further to determine how many visits he should expect in a 5-day period from a tracked value customer. What is the probability of a valued customer visiting all 5 days?

Accepted Answer

A)  4% 
B)  10% 
C)  8% 
D)  9% 
A)  4% 
B)  10% 
C)  8% 
D)  9%

Question 12

A simple event _____.

Accepted Answer

A)  contains unlimited outcomes 
B)  contains exactly two outcomes 
C)  contains only subsets of the outcome 
D)  contains a single outcome 
A)  contains unlimited outcomes 
B)  contains exactly two outcomes 
C)  contains only subsets of the outcome 
D)  contains a single outcome

Question 13

Bayes' theorem is a procedure for updating probabilities based on new information.

Accepted Answer

A) True 
 B)False

Question 14

Alison has been hired to sell two different homes on the same street that two houses apart. She predicts that Home A has a 75% chance in selling on the first week of being listed, whereas Home B is in lesser condition and has a 30% probability. There is also a 20% chance both homes will not sell on the first week of it being listed. What is the probability that house A does not sell given that house B does not sell due to it's poor condition?

Accepted Answer

A)  0.267 
B)  0.286 
C)  0.250 
D)  0.700 
A)  0.267 
B)  0.286 
C)  0.250 
D)  0.700

Question 15

Alison has been hired to sell two different homes on the same street that two houses apart. She predicts that Home A has a 57% chance in selling on the first week of being listed, whereas Home B is in lesser condition and has a 34% probability. There is also a 14% chance both homes will not sell on the first week of it being listed. What is the probability that house A does not sell given that house B does not sell due to it's poor condition?

Accepted Answer

A)  0.267 
B)  0.212 
C)  0.667 
D)  0.250 
A)  0.267 
B)  0.212 
C)  0.667 
D)  0.250

Question 16

Alex has been studying for the certified management exam. Results from the last exam indicate that the mean was 72 with a standard deviation of 6. He needs to be in the top 20% (80th percentile) to pass. The z table indicates 1.28. What score will place Alex in the top 20% of the distribution?

Accepted Answer

A)  79.68 
B)  83.12 
C)  74 
D)  79.28 
A)  79.68 
B)  83.12 
C)  74 
D)  79.28

Question 17

Alex has been studying for the certified management exam. Results from the last exam indicate that the mean was 62 with a standard deviation of 5. He needs to be in the top 20% (80th percentile) to pass. Use zvalue with two decimal places, 1.28, in your calculations. What score will place Alex in the top 20% of the distribution?

Accepted Answer

A)  68.40 
B)  79.68 
C)  83.12 
D)  74.00 
A)  68.40 
B)  79.68 
C)  83.12 
D)  74.00

Question 18

What is the probability when a personal assessment is made without referencing data?

Accepted Answer

A)  empirical probability 
B)  classical probability 
C)  subjective probability 
D)  exclusive probability 
A)  empirical probability 
B)  classical probability 
C)  subjective probability 
D)  exclusive probability

Question 19

Based on the provided table, the expected employee bonus is 4.95 or 4,950. What is the variance and the standard deviation of the annual bonus amount?

Accepted Answer

A)    
B)    
C)    
D)    
A)    
B)    
C)    
D)

Question 20

Using conditional probability, if P(A) = 0.60, P(B) = 0.25, and P(A $\cap$ B) = 0.05, then P(A | B) =

Accepted Answer

A)  0.40. 
B)  0.08. 
C)  0.20. 
D)  5.00. 
A)  0.40. 
B)  0.08. 
C)  0.20. 
D)  5.00.

Events are considered _____ if they include all outcomes in the sample space.

Mutually exclusive events __________.

The Daytona 500 runs 40 race cars. Of the 40, 19 cars crashed. This is a probability of 0.475 that a car will crash in the race. This is an example of which probability?

In Holland, 60% of the people own a car. If five adults are randomly selected, what is the probability that none of the five have a car?

The intersection of two events is denoted as __________.

Andrea decided her job opportunities will increase conditional on completing her bachelor's degree. Based on her assumption, what probability would best fit?

Two events are _____ if the occurrence of one event does not affect the probability occurrence of another.

In Holland, 30% of the people own a car. If five adults are randomly selected, what is the probability that no more than two own a car?

A simple event _____.

Bayes' theorem is a procedure for updating probabilities based on new information.

Alex has been studying for the certified management exam. Results from the last exam indicate that the mean was 72 with a standard deviation of 6. He needs to be in the top 20% (80^th percentile) to pass. The z table indicates 1.28. What score will place Alex in the top 20% of the distribution?

What is the probability when a personal assessment is made without referencing data?

Based on the provided table, the expected employee bonus is 4.95 or 4,950. What is the variance and the standard deviation of the annual bonus amount?

Using conditional probability, if P(A) = 0.60, P(B) = 0.25, and P(A $\cap$ B) = 0.05, then P(A | B) =

Introduction to Business Analytics

Data Management and Wrangling

Data Visualization and Summary Measures

Statistical Inference

Regression Analysis

Advanced Regression Analysis

Introduction to Data Mining

Supervised Data Mining: K-Nearest Neighbors and Naãve Bayes

Supervised Data Mining: Decision Trees

Unsupervised Data Mining

Forecasting With Time Series Data

Introduction to Prescriptive Analytics

Filters

Exam 4: Probability and Probability Distributions

Events are considered _____ if they include all outcomes in the sample space.

Mutually exclusive events __________.

The Daytona 500 runs 40 race cars. Of the 40, 19 cars crashed. This is a probability of 0.475 that a car will crash in the race. This is an example of which probability?

In Holland, 60% of the people own a car. If five adults are randomly selected, what is the probability that none of the five have a car?

The intersection of two events is denoted as __________.

Andrea decided her job opportunities will increase conditional on completing her bachelor's degree. Based on her assumption, what probability would best fit?

Two events are _____ if the occurrence of one event does not affect the probability occurrence of another.

In Holland, 30% of the people own a car. If five adults are randomly selected, what is the probability that no more than two own a car?

A simple event _____.

Bayes' theorem is a procedure for updating probabilities based on new information.

Alex has been studying for the certified management exam. Results from the last exam indicate that the mean was 72 with a standard deviation of 6. He needs to be in the top 20% (80th percentile) to pass. The z table indicates 1.28. What score will place Alex in the top 20% of the distribution?

What is the probability when a personal assessment is made without referencing data?

Based on the provided table, the expected employee bonus is 4.95 or 4,950. What is the variance and the standard deviation of the annual bonus amount?

Using conditional probability, if P(A) = 0.60, P(B) = 0.25, and P(A ∩\cap∩ B) = 0.05, then P(A | B) =

Introduction to Business Analytics

Data Management and Wrangling

Data Visualization and Summary Measures

Statistical Inference

Regression Analysis

Advanced Regression Analysis

Introduction to Data Mining

Supervised Data Mining: K-Nearest Neighbors and Naãve Bayes

Supervised Data Mining: Decision Trees

Unsupervised Data Mining

Forecasting With Time Series Data

Introduction to Prescriptive Analytics

Filters

Alex has been studying for the certified management exam. Results from the last exam indicate that the mean was 72 with a standard deviation of 6. He needs to be in the top 20% (80^th percentile) to pass. The z table indicates 1.28. What score will place Alex in the top 20% of the distribution?

Using conditional probability, if P(A) = 0.60, P(B) = 0.25, and P(A $\cap$ B) = 0.05, then P(A | B) =