Question 1

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(-k < Z < k)= 0.78.

Accepted Answer

A) 1.78 
B) 1.37 
C) 1.23 
D) 0.78 
A) 1.78 
B) 1.37 
C) 1.23 
D) 0.78

Question 2

One must use caution concerning finance models in that continuous clear observation and thinking cannot be replaced by models developed from:

Accepted Answer

A) foreign markets. 
B) futures. 
C) past events. 
D) human error. 
A) foreign markets. 
B) futures. 
C) past events. 
D) human error.

Question 3

The shape of the normal probability density function is a symmetric bell-shaped curve centered on the:

Accepted Answer

A) variance. 
B) standard deviation. 
C) coefficient. 
D) mean. 
A) variance. 
B) standard deviation. 
C) coefficient. 
D) mean.

Question 4

The owner of a fish market determined that the average weight for a catfish is 3.4 pounds with a standard deviation of 0.8 of a pound.A citation catfish should be one of the top 2% in weight.Assuming the weights of catfish are normally distributed,at what weight (in pounds)should the citation designation be established?

Accepted Answer

A) 1.65 pounds 
B) 5.04 pounds 
C) 5.42 pounds 
D) 6.76 pounds 
A) 1.65 pounds 
B) 5.04 pounds 
C) 5.42 pounds 
D) 6.76 pounds

Question 5

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The number of orders that come into a mail-order sales office each month is normally distributed with a mean of 298 and a standard deviation of 15.4.
-What is the probability that in a particular month the office receives more than 310 orders?

Accepted Answer

A) 0.7823 
B) 0.2826 
C) 0.7174 
D) 0.2177 
A) 0.7823 
B) 0.2826 
C) 0.7174 
D) 0.2177

Question 6

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The number of orders that come into a mail-order sales office each month is normally distributed with a mean of 298 and a standard deviation of 15.4.
-What is the area under the normal curve between Z = -2 and Z = 0?

Accepted Answer

A) 0.5000 
B) 0.6826 
C) 0.1359 
D) 0.4772 
A) 0.5000 
B) 0.6826 
C) 0.1359 
D) 0.4772

Question 7

Because the probability of any specific value is 0 for a continuous random variable,the expected values for continuous random variables are computed using:

Accepted Answer

A) Bayes' Theorem. 
B) an empirical formula. 
C) a Venn diagram. 
D) integral calculus. 
A) Bayes' Theorem. 
B) an empirical formula. 
C) a Venn diagram. 
D) integral calculus.

Question 8

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Consider a random sample of size n =1800 from a binomial probability distribution with P = 0.40,and X = number of successes.
-Find the probability that the percentage of successes is between 0.38 and 0.43

Accepted Answer

P(0.38 < P < 0.43 | n = 1800,P

Question 9

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Consider a random sample of size n =1800 from a binomial probability distribution with P = 0.40,and X = number of successes.
-Find the probability that the percentage of successes is greater than 0.42

Accepted Answer

P(P > 0.42 | n = 1800,P = 0.40

Question 10

The combinations of continuous random variables whose development is based on operation with expected values and does not depend on the particular probability distribution are called:

Accepted Answer

A) marginal combinations. 
B) frequent combinations. 
C) linear combinations. 
D) disjointed combinations. 
A) marginal combinations. 
B) frequent combinations. 
C) linear combinations. 
D) disjointed combinations.

Question 11

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let the random variable Z follow a standard normal distribution.
-Find the value k such that P(-0.71 < Z < k)≈ 0.67

Accepted Answer

The answer of THE NEXT QUESTIONS ARE BASED ON THE...

Question 12

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A continuous random variable X has the probability density function: f(x)= 2eS1U1P1-2S1S1P0S1U1P1xS1S1P0,x ≥ 0.
-Find the mean and standard deviation of X.

Accepted Answer

Mean = Sta

Question 13

The continuous random variable X is uniformly distributed over the interval [a,b].The mean of the probability distribution of X is:

Accepted Answer

A) (a + b)/ 2 
B) n - ab 
C) (b - a)/ 2 
D) (a + b)/ n 
A) (a + b)/ 2 
B) n - ab 
C) (b - a)/ 2 
D) (a + b)/ n

Question 14

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Let the random variable Z follow a standard normal distribution.
-Find the value k such that P(Z > k)= 0.83

Accepted Answer

The answer of THE NEXT QUESTIONS ARE BASED ON THE...

Question 15

Linear functions of random variables have many applications such as in the case of car dealership sales.

Accepted Answer

A) True 
 B)False

Question 16

Let X1,X2,...... ,Xk be a set of k continuous random variables.The function F(x1,x2,..... ,xk)which defines the probability that simultaneously X1 1,X2 2 and so on is called a:

Accepted Answer

A) marginal distribution function. 
B) marginal cumulative distribution function. 
C) joint cumulative distribution function. 
D) normal distribution function. 
A) marginal distribution function. 
B) marginal cumulative distribution function. 
C) joint cumulative distribution function. 
D) normal distribution function.

Question 17

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Suppose that the time between successive occurrences of an event follows an exponential distribution with mean 1/λ minutes.Assume that an event occurs.
-Show that the probability that more than 4 minutes elapses before the occurrence of the next
event is e-4λ.

Accepted Answer

P(X > 4)=

Question 18

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(Z > k)= 0.39.

Accepted Answer

A) 0.28 
B) 1.23 
C) -1.23 
D) -0.28 
A) 0.28 
B) 1.23 
C) -1.23 
D) -0.28

Question 19

The normal probability distribution provides a very close approximation to the binomial probability distribution if np(1 - p)> 5,where n is the number of trials and p is the probability of success in any trial.

Accepted Answer

A) True 
 B)False

Question 20

A function of continuous random variables which allows for graphical interpretations of their probability structure is called the:

Accepted Answer

A) cumulative distribution function. 
B) probability density function. 
C) uniform distribution. 
D) expected value. 
A) cumulative distribution function. 
B) probability density function. 
C) uniform distribution. 
D) expected value.

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(-k < Z < k)= 0.78.

One must use caution concerning finance models in that continuous clear observation and thinking cannot be replaced by models developed from:

The shape of the normal probability density function is a symmetric bell-shaped curve centered on the:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The number of orders that come into a mail-order sales office each month is normally distributed with a mean of 298 and a standard deviation of 15.4. -What is the area under the normal curve between Z = -2 and Z = 0?

Because the probability of any specific value is 0 for a continuous random variable,the expected values for continuous random variables are computed using:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider a random sample of size n =1800 from a binomial probability distribution with P = 0.40,and X = number of successes. -Find the probability that the percentage of successes is between 0.38 and 0.43

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider a random sample of size n =1800 from a binomial probability distribution with P = 0.40,and X = number of successes. -Find the probability that the percentage of successes is greater than 0.42

The combinations of continuous random variables whose development is based on operation with expected values and does not depend on the particular probability distribution are called:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Let the random variable Z follow a standard normal distribution. -Find the value k such that P(-0.71 < Z < k)≈ 0.67

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A continuous random variable X has the probability density function: f(x)= 2e^-2^x,x ≥ 0. -Find the mean and standard deviation of X.

The continuous random variable X is uniformly distributed over the interval [a,b].The mean of the probability distribution of X is:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Let the random variable Z follow a standard normal distribution. -Find the value k such that P(Z > k)= 0.83

Linear functions of random variables have many applications such as in the case of car dealership sales.

Let X₁,X₂,...... ,X_k be a set of k continuous random variables.The function F(x₁,x₂,..... ,x_k)which defines the probability that simultaneously X₁ < x₁,X₂ < x₂ and so on is called a:

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(Z > k)= 0.39.

The normal probability distribution provides a very close approximation to the binomial probability distribution if np(1 - p)> 5,where n is the number of trials and p is the probability of success in any trial.

A function of continuous random variables which allows for graphical interpretations of their probability structure is called the:

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

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(-k < Z < k)= 0.78.

One must use caution concerning finance models in that continuous clear observation and thinking cannot be replaced by models developed from:

The shape of the normal probability density function is a symmetric bell-shaped curve centered on the:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The number of orders that come into a mail-order sales office each month is normally distributed with a mean of 298 and a standard deviation of 15.4. -What is the area under the normal curve between Z = -2 and Z = 0?

Because the probability of any specific value is 0 for a continuous random variable,the expected values for continuous random variables are computed using:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider a random sample of size n =1800 from a binomial probability distribution with P = 0.40,and X = number of successes. -Find the probability that the percentage of successes is between 0.38 and 0.43

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Consider a random sample of size n =1800 from a binomial probability distribution with P = 0.40,and X = number of successes. -Find the probability that the percentage of successes is greater than 0.42

The combinations of continuous random variables whose development is based on operation with expected values and does not depend on the particular probability distribution are called:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Let the random variable Z follow a standard normal distribution. -Find the value k such that P(-0.71 < Z < k)≈ 0.67

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: A continuous random variable X has the probability density function: f(x)= 2e-2x,x ≥ 0. -Find the mean and standard deviation of X.

The continuous random variable X is uniformly distributed over the interval [a,b].The mean of the probability distribution of X is:

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Let the random variable Z follow a standard normal distribution. -Find the value k such that P(Z > k)= 0.83

Linear functions of random variables have many applications such as in the case of car dealership sales.

Let X1,X2,...... ,Xk be a set of k continuous random variables.The function F(x1,x2,..... ,xk)which defines the probability that simultaneously X1 < x1,X2 < x2 and so on is called a:

Let the random variable Z follow a standard normal distribution.Find the value k,such that P(Z > k)= 0.39.

The normal probability distribution provides a very close approximation to the binomial probability distribution if np(1 - p)> 5,where n is the number of trials and p is the probability of success in any trial.

A function of continuous random variables which allows for graphical interpretations of their probability structure is called the:

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: A continuous random variable X has the probability density function: f(x)= 2e^-2^x,x ≥ 0. -Find the mean and standard deviation of X.

Let X₁,X₂,...... ,X_k be a set of k continuous random variables.The function F(x₁,x₂,..... ,x_k)which defines the probability that simultaneously X₁ < x₁,X₂ < x₂ and so on is called a: