Exam 5: Continuous Random Variables and Probability Distributions

For the uniform probability distribution,the mean and standard deviation can be calculated by knowing the maximum and minimum values of the random variable.

(True/False)

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Question 21

There is not just one normal probability distribution;there is a family of distributions.

(True/False)

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Question 22

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16. -Find the probability a person chosen at random from this group has an IQ score above 146.00.

(Essay)

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Question 23

The area under a valid cumulative distribution function is equal to 1.

(True/False)

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Question 24

Many economic and business measures such as sales,investment,consumption,costs,and revenues can be represented by continuous random variables.

(True/False)

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Question 25

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The length of time it takes to be seated at a local restaurant on Friday night is normally distributed with a mean of 15 minutes and a standard deviation of 4.75 minutes. -What is the probability that you have to wait between 13 and 16 minutes to be seated?

(Multiple Choice)

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Question 26

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Let the random variable Z follow a standard normal distribution. -What is P(Z < 1.23)?

(Essay)

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Question 27

Suppose that 19% of all sales are for amounts greater than $1,000.In a random sample of 30 invoices,what is the probability that more than six of the invoices are for over $1,000? Use the binomial approximation for the normal distribution.

(Multiple Choice)

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Question 28

Seventy percent of the time,you will be called in before you have to wait how long?

(Essay)

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Question 29

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: You are the webmaster for your firm's web-site.From your records,you know that the probability that a visitor will buy something from your firm is 0.23.In one day,the number of visitors is 952. -What is the probability that at least 210 of them will buy something from your firm? Use the normal approximation to the binomial.

(Multiple Choice)

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Question 30

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(-0.62 < Z < k)= 0.43.

(Multiple Choice)

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Question 31

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Investment A has an expected return of 8% with a standard deviation of 2.5%.Investment B has an expected return of 6% with a standard deviation of 1.2%.Assume you invest equally in both investments and that the rates of return are independent. -What is the expected return of your portfolio?

(Multiple Choice)

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Question 32

Which of the following is not a continuous distribution?

(Multiple Choice)

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Question 33

Which of the following is not a characteristic for a normal distribution?

(Multiple Choice)

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Question 34

A normal probability plot may be used to assess the assumption of normality for a particular set of data values.

(True/False)

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Question 35

Investment A has an expected return of 7.8% with a standard deviation of 2%.Investment B has an expected return of 7.2% with a standard deviation of 3.1%.Which stock is more likely to have a return greater than 10%?

(Multiple Choice)

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Question 36

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16. -What is the 95^th percentile of this normal distribution?

(Essay)

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Question 37

The distribution that has been found to be particularly useful for waiting-line or queuing problems is referred to as the:

(Multiple Choice)

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Question 38

The speed of cars passing through a check point follows a normal distribution with a mean of 45 miles per hour and a standard deviation of 6 miles per hour.What is the probability that the next car passing will be exceeding 51 miles per hour?

(Multiple Choice)

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Question 39

Given that Z is a standard normal random variable,a negative value of Z indicates that the standard deviation of z is negative.

(True/False)

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Question 40

Showing 21 - 40 of 239

For the uniform probability distribution,the mean and standard deviation can be calculated by knowing the maximum and minimum values of the random variable.

There is not just one normal probability distribution;there is a family of distributions.

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16. -Find the probability a person chosen at random from this group has an IQ score above 146.00.

The area under a valid cumulative distribution function is equal to 1.

Many economic and business measures such as sales,investment,consumption,costs,and revenues can be represented by continuous random variables.

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Let the random variable Z follow a standard normal distribution. -What is P(Z < 1.23)?

Suppose that 19% of all sales are for amounts greater than $1,000.In a random sample of 30 invoices,what is the probability that more than six of the invoices are for over $1,000? Use the binomial approximation for the normal distribution.

Seventy percent of the time,you will be called in before you have to wait how long?

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(-0.62 < Z < k)= 0.43.

Which of the following is not a continuous distribution?

Which of the following is not a characteristic for a normal distribution?

A normal probability plot may be used to assess the assumption of normality for a particular set of data values.

Investment A has an expected return of 7.8% with a standard deviation of 2%.Investment B has an expected return of 7.2% with a standard deviation of 3.1%.Which stock is more likely to have a return greater than 10%?

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16. -What is the 95^th percentile of this normal distribution?

The distribution that has been found to be particularly useful for waiting-line or queuing problems is referred to as the:

The speed of cars passing through a check point follows a normal distribution with a mean of 45 miles per hour and a standard deviation of 6 miles per hour.What is the probability that the next car passing will be exceeding 51 miles per hour?

Given that Z is a standard normal random variable,a negative value of Z indicates that the standard deviation of z is negative.

Describing Data: Graphical

Describing Data: Numerical

Probability

Discrete Random Variables and Probability Distributions

Sampling and Sampling Distributions

Estimation: Single Population

Estimation: Additional Topics

Hypothesis Testing: Single Population

Hypothesis Testing: Additional Topics

Simple Regression

Multiple Regression

Additional Topics in Regression Analysis

Analysis of Categorical Data

Analysis of Variance

Time-Series Analysis and Forecasting

Additional Topics in Sampling

Filters

Exam 5: Continuous Random Variables and Probability Distributions

For the uniform probability distribution,the mean and standard deviation can be calculated by knowing the maximum and minimum values of the random variable.

There is not just one normal probability distribution;there is a family of distributions.

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16. -Find the probability a person chosen at random from this group has an IQ score above 146.00.

The area under a valid cumulative distribution function is equal to 1.

Many economic and business measures such as sales,investment,consumption,costs,and revenues can be represented by continuous random variables.

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Let the random variable Z follow a standard normal distribution. -What is P(Z < 1.23)?

Suppose that 19% of all sales are for amounts greater than $1,000.In a random sample of 30 invoices,what is the probability that more than six of the invoices are for over $1,000? Use the binomial approximation for the normal distribution.

Seventy percent of the time,you will be called in before you have to wait how long?

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(-0.62 < Z < k)= 0.43.

Which of the following is not a continuous distribution?

Which of the following is not a characteristic for a normal distribution?

A normal probability plot may be used to assess the assumption of normality for a particular set of data values.

Investment A has an expected return of 7.8% with a standard deviation of 2%.Investment B has an expected return of 7.2% with a standard deviation of 3.1%.Which stock is more likely to have a return greater than 10%?

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16. -What is the 95th percentile of this normal distribution?

The distribution that has been found to be particularly useful for waiting-line or queuing problems is referred to as the:

The speed of cars passing through a check point follows a normal distribution with a mean of 45 miles per hour and a standard deviation of 6 miles per hour.What is the probability that the next car passing will be exceeding 51 miles per hour?

Given that Z is a standard normal random variable,a negative value of Z indicates that the standard deviation of z is negative.

Describing Data: Graphical

Describing Data: Numerical

Probability

Discrete Random Variables and Probability Distributions

Sampling and Sampling Distributions

Estimation: Single Population

Estimation: Additional Topics

Hypothesis Testing: Single Population

Hypothesis Testing: Additional Topics

Simple Regression

Multiple Regression

Additional Topics in Regression Analysis

Analysis of Categorical Data

Analysis of Variance

Time-Series Analysis and Forecasting

Additional Topics in Sampling

Filters

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The distribution of IQ scores for high school graduates is normally distributed with mean μ = 104 and standard deviation σ = 16. -What is the 95^th percentile of this normal distribution?