Question 1

When the conclusions based upon the aggregated crosstabulation can be completely reversed if we look at the unaggregated data,the occurrence is known as

Accepted Answer

A) reverse correlation 
B) inferential statistics 
C) Simpson's paradox 
D) disaggregation 
A) reverse correlation 
B) inferential statistics 
C) Simpson's paradox 
D) disaggregation C

Question 2

Through a telephone survey,a low-interest bank credit card is offered to 400 households.The responses are as tabled. $\begin{array}{lcc} 
& \text { Income } \leq \$ 60,000 & \text { Income }>\$ 60,000 \
\hline
\text { Accept offer } & 40 & 30 \
\text { Reject offer } & 210 & 120
\end{array}$ 
a.Develop a joint probability table and show the marginal probabilities.
b.What is the probability of a household whose income exceeds $60,000 and who rejects the offer?
c.If income is F1F1F1S1F1F1F10 $60,000, what is the probability the offer will be accepted?
d.If the offer is accepted, what is the probability that income exceeds $60,000?

Accepted Answer

a. $$\begin{array} { c c c c } 
& \text { Income } \leq \$ 60,000 & \text { Income } > \$ 60,000 & \text { Total } \
\hline
\text { Accept offer } & .100 & .075 & .175 \
\text { Reject offer } & .525 & .300 & .825 \
\text { Total } & .625 & .375 & 1.000
\end{array}$$ b..3
c..16
d..4286

Question 3

A posterior probability is a conditional probability.

Accepted Answer

A) True 
 B)False  True

Question 4

The following probability model describes the number of snow storms for Washington,D.C.for a given year: $$\begin{array} { l | c | c | c | c | c | c | c } 
\text { Number of Storms } & 0 & 1 & 2 & 3 & 4 & 5 & 6 \
\hline \text { Probability } & .25 & .33 & .24 & .11 & .04 & .02 & .01
\end{array}$$ The probability of 7 or more snowstorms in a year is 0. 
a.What is the probability of more than 2 but less than 5 snowstorms?
b.Given this a particularly cold year (in which 2 snowstorms have already been observed), what is the conditional probability that 4 or more snowstorms will be observed?
c.If at the beginning of winter there is a snowfall, what is the probability of at least one more snowstorm before winter is over?

Accepted Answer

The answer of The following probability model describes the number...

Question 5

P(A|B)= P(AC|B)for all events A and B.

Accepted Answer

A) True 
 B)False

Question 6

Two events that are independent cannot be mutually exclusive.

Accepted Answer

A) True 
 B)False

Question 7

Thirty-five percent of the students who enroll in a statistics course go to the statistics laboratory on a regular basis.Past data indicates that 40% of those students who use the lab on a regular basis make a grade of B or better.On the other hand,10% of students who do not go to the lab on a regular basis make a grade of B or better.If a particular student made an A,determine the probability that she or he used the lab on a regular basis.

Accepted Answer

The answer of Thirty-five percent of the students who enroll...

Question 8

If A and B are mutually exclusive events,then P(A | B)= 0.

Accepted Answer

A) True 
 B)False

Question 9

Discuss the problems inherent in using words such as "likely," "possibly," or "probably" to convey degree of belief.

Accepted Answer

Using words such as "likely," "possibly,

Question 10

A graphical device used for enumerating sample points in a multiple-step experiment is a Venn diagram.

Accepted Answer

A) True 
 B)False

Question 11

If P(A $U$ B)= P(A)+ P(B),then A and B are mutually exclusive.

Accepted Answer

A) True 
 B)False

Question 12

An investment advisor recommends the purchase of stock shares in Infomatics,Inc.He has made the following predictions:
P(Stock goes up 20% | Rise in GDP)= .6
P(Stock goes up 20% | Level GDP)= .5
P(Stock goes up 20% | Fall in GDP)= .4
An economist has predicted that the probability of a rise in the GDP is 30%,whereas the probability of a fall in the GDP is 40%.
a.What is the probability that the stock will go up 20%?
b.We have been informed that the stock has gone up 20%. What is the probability of a rise or fall in the GDP?

Accepted Answer

a..49
b..3

Question 13

To better track its patients,a hospital's neighborhood medical center has gathered this information. $$\begin{array} { l c c } 
& \text { New patient (N) } & \text { Existing patient (E) } \
\text { Scheduled appointment } ( \mathrm { A } ) & 10 & 10 \
\text { Walk-in } ( W ) & 12 & 18
\end{array}$$ 
a.Develop a joint probability table. Include the marginal probabilities.
b.Find the conditional probabilities:P(A|N), P(A|E), P(W|N), P(W|E), P(N|A), P(E|A), P(N|W), P(E|W)

Accepted Answer

a. @#IMG-DLM& b.P(A|N)= .4545
P(A|E)= .3

Question 14

If P(A|B)= .2 and P(Bc)= .6,then P(B|A)

Accepted Answer

A) is .8 
B) is .12 
C) is .33 
D) cannot be determined. 
A) is .8 
B) is .12 
C) is .33 
D) cannot be determined.

Question 15

P(A|B)+ P(A|BC)= 1 for all events A and B.

Accepted Answer

A) True 
 B)False

Question 16

An accounting firm has noticed that of the companies it audits,85% show no inventory shortages,10% show small inventory shortages and 5% show large inventory shortages.The firm has devised a new accounting test for which it believes the following probabilities hold:
P(company will pass test | no shortage)= .90
P(company will pass test | small shortage)= .50
P(company will pass test | large shortage)= .20
a.If a company being audited fails this test, what is the probability of a large or small inventory shortage?
b.If a company being audited passes this test, what is the probability of no inventory shortage?

Accepted Answer

The answer of An accounting firm has noticed that of...

Question 17

When the results of experimentation or historical data are used to assign probability values,the method used to assign probabilities is referred to as the

Accepted Answer

A) relative frequency method 
B) subjective method 
C) classical method 
D) posterior method 
A) relative frequency method 
B) subjective method 
C) classical method 
D) posterior method

Question 18

When assigning subjective probabilities,use experience,intuition,and any available data.

Accepted Answer

A) True 
 B)False

Question 19

Describe four experiments and list the experimental outcomes associated with each one.

Accepted Answer

Experiment 1: Testing the effects of caf

Question 20

There are two more assignments in a class before its end,and if you get an A on at least one of them,you will get an A for the semester.Your subjective assessment of your performance is $$\begin{array} { l c } 
{ \text { Event } } & \text { Probability } \
\hline \text { A on paper and } A \text { on exam } & .25 \
\text { A on paper only } & .10 \
\text { A on exam only } & .30 \
\text { A on neither } & .35
\end{array}$$ 
a.What is the probability of getting an A on the paper?
b.What is the probability of getting an A on the exam?
c.What is the probability of getting an A in the course?
d.Are the grades on the assignments independent?

Accepted Answer

a..35
b..5

When the conclusions based upon the aggregated crosstabulation can be completely reversed if we look at the unaggregated data,the occurrence is known as

A posterior probability is a conditional probability.

P(A|B)= P(A^C|B)for all events A and B.

Two events that are independent cannot be mutually exclusive.

If A and B are mutually exclusive events,then P(A | B)= 0.

Discuss the problems inherent in using words such as "likely," "possibly," or "probably" to convey degree of belief.

A graphical device used for enumerating sample points in a multiple-step experiment is a Venn diagram.

If P(A $U$ B)= P(A)+ P(B),then A and B are mutually exclusive.

If P(A|B)= .2 and P(B^c)= .6,then P(B|A)

P(A|B)+ P(A|B^C)= 1 for all events A and B.

When the results of experimentation or historical data are used to assign probability values,the method used to assign probabilities is referred to as the

When assigning subjective probabilities,use experience,intuition,and any available data.

Describe four experiments and list the experimental outcomes associated with each one.

Introduction

Probability Distributions

Decision Analysis

Utility and Game Theory

Times Series Analysis and Forecasting

Introduction to Linear Programming

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications in Marketing, Finance, and Operations Management

Distribution and Network Models

Integer Linear Programming

Advanced Optimization Applications

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Markov Processes

Filters

Exam 2: Introduction to Probability

When the conclusions based upon the aggregated crosstabulation can be completely reversed if we look at the unaggregated data,the occurrence is known as

A posterior probability is a conditional probability.

P(A|B)= P(AC|B)for all events A and B.

Two events that are independent cannot be mutually exclusive.

If A and B are mutually exclusive events,then P(A | B)= 0.

Discuss the problems inherent in using words such as "likely," "possibly," or "probably" to convey degree of belief.

A graphical device used for enumerating sample points in a multiple-step experiment is a Venn diagram.

If P(A UUU B)= P(A)+ P(B),then A and B are mutually exclusive.

If P(A|B)= .2 and P(Bc)= .6,then P(B|A)

P(A|B)+ P(A|BC)= 1 for all events A and B.

When the results of experimentation or historical data are used to assign probability values,the method used to assign probabilities is referred to as the

When assigning subjective probabilities,use experience,intuition,and any available data.

Describe four experiments and list the experimental outcomes associated with each one.

Introduction

Probability Distributions

Decision Analysis

Utility and Game Theory

Times Series Analysis and Forecasting

Introduction to Linear Programming

Linear Programming: Sensitivity Analysis and Interpretation of Solution

Linear Programming Applications in Marketing, Finance, and Operations Management

Distribution and Network Models

Integer Linear Programming

Advanced Optimization Applications

Project Scheduling: Pertcpm

Inventory Models

Waiting Line Models

Simulation

Markov Processes

Filters

P(A|B)= P(A^C|B)for all events A and B.

If P(A $U$ B)= P(A)+ P(B),then A and B are mutually exclusive.

If P(A|B)= .2 and P(B^c)= .6,then P(B|A)

P(A|B)+ P(A|B^C)= 1 for all events A and B.