Question 1

Which of the following statements is not correct?

Accepted Answer

A)  Two events A and B are mutually exclusive if event A occurs and event B cannot occur. 
B)  If events A and B occur at the same time,then A and B intersect. 
C)  If event A does not occur,then its complement A' will also not occur. 
D)  A union of events occurs when at least one event in a group occurs, 
E)  If all possible outcomes of an experiment are represented in a set,the set is considered exhaustive. 
A)  Two events A and B are mutually exclusive if event A occurs and event B cannot occur. 
B)  If events A and B occur at the same time,then A and B intersect. 
C)  If event A does not occur,then its complement A' will also not occur. 
D)  A union of events occurs when at least one event in a group occurs, 
E)  If all possible outcomes of an experiment are represented in a set,the set is considered exhaustive.

Question 2

Interest rates
The following represent interest rates on 20 U.S.Treasury bond issues with maturity dates in 2000-2001,as listed in Money Magazine:  
-Determine the probability that a randomly selected bond will have a rate of interest of less than 13 percent.

Accepted Answer

The answer of Interest rates
The following represent interest rates on...

Question 3

If a contingency table shows the sex and classification of undergraduate students (freshman,sophomore,junior,senior)in your statistics class,which of the following is true?

Accepted Answer

A)  The sex of the student is an example of mutually exclusive events. 
B)  Because yours is an undergraduate class,the events are exhaustive,i.e.,each student must fall in one of the classifications. 
C)  An example for the intersection of events would be the number of males who are juniors. 
D)  An example for the union of events would be the number of students who are female or juniors. 
E)  All of these are true. 
A)  The sex of the student is an example of mutually exclusive events. 
B)  Because yours is an undergraduate class,the events are exhaustive,i.e.,each student must fall in one of the classifications. 
C)  An example for the intersection of events would be the number of males who are juniors. 
D)  An example for the union of events would be the number of students who are female or juniors. 
E)  All of these are true.

Question 4

You think you have a 95% chance of passing your next business statistics exam.This is an example of which approach to probability?

Accepted Answer

The answer of You think you have a 95% chance...

Question 5

If inspection finds the item to be defective,what is the revised probability that the item came from machine C?

Accepted Answer

The answer of If inspection finds the item to be...

Question 6

Write a word statement for P (B / A).

Accepted Answer

The probability that

Question 7

Event 1
The prior probabilities of events AS1U1B11S1U1B0,AS1U1B12S1U1B0,and AS1U1B13S1U1B0 are P(AS1U1B11S1U1B0)= .50,P(AS1U1B12S1U1B0)= .20 and P(AS1U1B13S1U1B0)= .30.The conditional probabilities of event B given AS1U1B11S1U1B0,AS1U1B12S1U1B0,and AS1U1B13S1U1B0 are P(B / AS1U1B11S1U1B0)= .40,P(B / AS1U1B12S1U1B0)= .50 and P(B / AS1U1B13S1U1B0)= .30.
-Apply Bayes' theorem to compute the posterior probability P(A2 / B).

Accepted Answer

Question 8

If P(A)= 0.84,P(B)= 0.76 and P(A or B)= 0.90,then P(A and B)is:

Accepted Answer

A)  0.06. 
B)  0.14. 
C)  0.70. 
D)  0.83. 
A)  0.06. 
B)  0.14. 
C)  0.70. 
D)  0.83.

Question 9

Telephone survey
A political telephone survey of 360 people asked whether they were in favor or not in favor of a proposed law.Each person was identified as either Republican or Democrat.The results are shown in the following table:
 $$\begin{array} { | l | c | c | c | c | } 
\hline \text { Party } & \text { In Favar } & \text { Nat in Favar } & \text { Undecided } & \text { Tatal } \
\hline \text { Republican } & 98 & 54 & 4 \square & 192 \
\hline \text { Democrat } & 79 & 29 & 60 & 168 \
\hline \text { Tatal } & 177 & 83 & 100 & 360 \
\hline
\end{array}$$
-What is the probability that a randomly selected respondent was a Democrat or not in favor of the proposed law?

Accepted Answer

The answer of Telephone survey
A political telephone survey of 360...

Question 10

The table below gives the probabilities of combinations of religion and political parties in a major U.S.city. $$\begin{array}{l}
\quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \text { Religion }\
\begin{array} { | l | c c c c | } 
\hline\text { Political parties } & \text { Protestant } ( A ) & \text { Catholic } ( B ) & \text { Jewish } ( C ) & \text { Other } ( D ) \
\hline \text { Democrat } ( E ) & 0.35 & 0.10 & 0.03 & 0.02 \
\text { Republican } ( F ) & 0.27 & 0.09 & 0.02 & 0.01 \
\text { Independent } ( G ) & 0.05 & 0.03 & 0.02 & 0.01 \
\hline
\end{array}
\end{array}$$ 
-What is the probability that a randomly selected person would be a Republican?

Accepted Answer

A)  0.67 
B)  0.22 
C)  0.11 
D)  0.39 
E)  None of these 
A)  0.67 
B)  0.22 
C)  0.11 
D)  0.39 
E)  None of these

Question 11

Identify the following type of graphic,and describe what it illustrates:

Accepted Answer

Venn diagram illustrates the i

Question 12

Explain the relationship between a relative-frequency distribution and a probability distribution for any numerical population.

Accepted Answer

A relative frequency distribution indica

Question 13

Gulf Coast
A Gulf Coast travel park has the following accommodations:
 $$\begin{array}{l}
\quad \quad \quad \quad \quad \quad \quad \quad \quad \quad \text { Number of bedrooms }\
\begin{array} { | l | c | c | c } 
\hline \text { Location } & \text { 3 Gedranm } & \text { 4 Gedranm } & \text { Tatal } \
\hline \text { Beach Frant } & 17 & 24 & 41 \
\hline \text { Nan Beach Frant } & 6 & 210 & 216 \
\hline \text { Tatal } & 23 & 234 & 257 \
\hline
\end{array}
\end{array}$$
-What is the probability of selecting a non beach front site given that the facility had 4 bedrooms?

Accepted Answer

The answer of Gulf Coast
A Gulf Coast travel park has...

Question 14

Event 1
The prior probabilities of events AS1U1B11S1U1B0,AS1U1B12S1U1B0,and AS1U1B13S1U1B0 are P(AS1U1B11S1U1B0)= .50,P(AS1U1B12S1U1B0)= .20 and P(AS1U1B13S1U1B0)= .30.The conditional probabilities of event B given AS1U1B11S1U1B0,AS1U1B12S1U1B0,and AS1U1B13S1U1B0 are P(B / AS1U1B11S1U1B0)= .40,P(B / AS1U1B12S1U1B0)= .50 and P(B / AS1U1B13S1U1B0)= .30.
-Ten students from an economics class have formed a study group.Each may or may not attend a study session.Assuming that the members will be making independent decisions on whether or not to attend,how many different possibilities exist for the composition of the study session?

Accepted Answer

The answer of Event 1
The prior probabilities of events AS1U1B11S1U1B0,AS1U1B12S1U1B0,and...

Question 15

____________________ consider only the possible sets of objects,regardless of the order in which the members of the set are arranged.

Accepted Answer

The answer of ____________________ consider only the possible sets of...

Question 16

Appliance dealer
An appliance dealer calculated the proportion of new dishwashers sold that required various numbers of service calls to correct problems during the warranty period.The records were: $$\begin{array} { | c | c | } 
\hline \text { No. of service calls } & \text { Relative frequency } \
\hline 0 & 0.25 \
1 & 0.38 \
2 & 0.30 \
3 & 0.04 \
4 & 0.03 \
\hline
\end{array}$$
-Let X be the number of service calls during the warranty period for a dishwasher.What is the probability that there will be at most one service call?

Accepted Answer

The answer of Appliance dealer
An appliance dealer calculated the proportion...

Question 17

Which of the following statements is correct given that the events A and B have nonzero probabilities?

Accepted Answer

A)  A and B cannot be both independent and mutually exclusive 
B)  A and B can be both independent and mutually exclusive 
C)  A and B are always independent 
D)  A and B are always mutually exclusive 
A)  A and B cannot be both independent and mutually exclusive 
B)  A and B can be both independent and mutually exclusive 
C)  A and B are always independent 
D)  A and B are always mutually exclusive

Question 18

Burger Queen Co.
The Burger Queen Company has 124 locations along the west coast.The general manager is concerned with the profitability of the locations compared with major menu items sold.The information below shows the number of each menu item selected by profitability of store. $$\begin{array} { | c | c c c c c | c | } 
\hline \text { Profit } & \begin{array} { c } 
\text { Baby Burger } \
\text { MI }
\end{array} & \begin{array} { c } 
\text { Mother Burger } \
\boldsymbol { M 2 }
\end{array} & \begin{array} { c } 
\text { Father } \
\text { Burger } \boldsymbol { M 3 }
\end{array} & \begin{array} { c } 
\text { Nachos } \
\text { M4 }
\end{array} & \begin{array} { c } 
\text { Tacos } \
\boldsymbol { M S }
\end{array} & \text { Total } \
\hline \text { High Profit } R I & 250 & 424 & 669 & 342 & 284 & 1969 \
\text { Medium Profit } R 2 & 312 & 369 & 428 & 271 & 200 & 1580 \
\text { Low Profit } R 3 & 289 & 242 & 216 & 221 & 238 & 1206 \
\hline \text { Total: } & 851 & 1035 & 1313 & 834 & 722 & 4755 \
\hline
\end{array}$$
-If a menu item is selected at random,what is the probability that the store is a high profit store?

Accepted Answer

The answer of Burger Queen Co.
The Burger Queen Company has...

Question 19

Event $$\begin{array}{l}
\quad \quad \quad \quad \quad \quad \quad \quad \text { Event }\
\begin{array} { | c | c c c c | c | } 
\hline \text { Event } & \boldsymbol { C 1 } & \mathbf { C 2 } & \mathbf { C 3 } & \mathbf { C 4 } & \text { Total } \
\hline \text { DI } & 75 & 125 & 65 & 35 & 300 \
\text { D2 } & 90 & 105 & 60 & 45 & 300 \
\text { D3 } & 135 & 120 & 75 & 70 & 400 \
\hline \text { Total: } & 300 & 325 & 200 & 150 & 1000 \
\hline
\end{array}
\end{array}$$
-Find P (C1 or D1).

Accepted Answer

The answer of Event \[\begin{array}{l}
\quad \quad \quad \quad \quad \quad...

Question 20

Two events A and B are said to be independent if:

Accepted Answer

A)  P(A and 
B) = P(
A) · P(
B) . 
B)  P(A and 
B) = P(
A) + P(
B) . 
C)  P(A/
B) = P(
B) . 
D)  P(B/
A) = P(
A) . 
E)  P(A or 
B) = P(
A) · P(
B) . 
A)  P(A and 
B) = P(
A) · P(
B) . 
B)  P(A and 
B) = P(
A) + P(
B) . 
C)  P(A/
B) = P(
B) . 
D)  P(B/
A) = P(
A) . 
E)  P(A or 
B) = P(
A) · P(
B) .

Which of the following statements is not correct?

Interest rates The following represent interest rates on 20 U.S.Treasury bond issues with maturity dates in 2000-2001,as listed in Money Magazine: -Determine the probability that a randomly selected bond will have a rate of interest of less than 13 percent.

If a contingency table shows the sex and classification of undergraduate students (freshman,sophomore,junior,senior)in your statistics class,which of the following is true?

You think you have a 95% chance of passing your next business statistics exam.This is an example of which approach to probability?

If inspection finds the item to be defective,what is the revised probability that the item came from machine C?

Write a word statement for P (B / A).

If P(A)= 0.84,P(B)= 0.76 and P(A or B)= 0.90,then P(A and B)is:

Identify the following type of graphic,and describe what it illustrates:

Explain the relationship between a relative-frequency distribution and a probability distribution for any numerical population.

Gulf Coast A Gulf Coast travel park has the following accommodations: Number of bedrooms Location 3 Gedranm 4 Gedranm Tatal Beach Frant 17 24 41 Nan Beach Frant 6 210 216 Tatal 23 234 257 -What is the probability of selecting a non beach front site given that the facility had 4 bedrooms?

____________________ consider only the possible sets of objects,regardless of the order in which the members of the set are arranged.

Which of the following statements is correct given that the events A and B have nonzero probabilities?

Event Event Event Total DI 75 125 65 35 300 D2 90 105 60 45 300 D3 135 120 75 70 400 Total: 300 325 200 150 1000 -Find P (C1 or D1).

Two events A and B are said to be independent if:

A Preview of Business Statistics

Visual Description of Data

Statistical Description of Data

Data Collection and Sampling Methods

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Estimation From Sample Data

Hypothesis Tests Involving a Sample Mean or Proportion

Hypothesis Tests Involving Two Sample Means

Analysis of Variance Tests

Chi-Square Applications

Nonparametric Methods

Simple Linear Regression and Correlation

Multiple Regression and Correlation

Model Building

Models for Time Series and Forecasting

Decision Theory

Total Quality Management

Filters

Exam 5: Probability: Review of Basic Concepts

Which of the following statements is not correct?

Interest rates The following represent interest rates on 20 U.S.Treasury bond issues with maturity dates in 2000-2001,as listed in Money Magazine: -Determine the probability that a randomly selected bond will have a rate of interest of less than 13 percent.

If a contingency table shows the sex and classification of undergraduate students (freshman,sophomore,junior,senior)in your statistics class,which of the following is true?

You think you have a 95% chance of passing your next business statistics exam.This is an example of which approach to probability?

If inspection finds the item to be defective,what is the revised probability that the item came from machine C?

Write a word statement for P (B / A).

Event 1 The prior probabilities of events A1,A2,and A3 are P(A1)= .50,P(A2)= .20 and P(A3)= .30.The conditional probabilities of event B given A1,A2,and A3 are P(B / A1)= .40,P(B / A2)= .50 and P(B / A3)= .30. -Apply Bayes' theorem to compute the posterior probability P(A2 / B).

If P(A)= 0.84,P(B)= 0.76 and P(A or B)= 0.90,then P(A and B)is:

Identify the following type of graphic,and describe what it illustrates:

Explain the relationship between a relative-frequency distribution and a probability distribution for any numerical population.

Gulf Coast A Gulf Coast travel park has the following accommodations: Number of bedrooms Location 3 Gedranm 4 Gedranm Tatal Beach Frant 17 24 41 Nan Beach Frant 6 210 216 Tatal 23 234 257 -What is the probability of selecting a non beach front site given that the facility had 4 bedrooms?

____________________ consider only the possible sets of objects,regardless of the order in which the members of the set are arranged.

Which of the following statements is correct given that the events A and B have nonzero probabilities?

Event Event Event Total DI 75 125 65 35 300 D2 90 105 60 45 300 D3 135 120 75 70 400 Total: 300 325 200 150 1000 -Find P (C1 or D1).

Two events A and B are said to be independent if:

A Preview of Business Statistics

Visual Description of Data

Statistical Description of Data

Data Collection and Sampling Methods

Discrete Probability Distributions

Continuous Probability Distributions

Sampling Distributions

Estimation From Sample Data

Hypothesis Tests Involving a Sample Mean or Proportion

Hypothesis Tests Involving Two Sample Means

Analysis of Variance Tests

Chi-Square Applications

Nonparametric Methods

Simple Linear Regression and Correlation

Multiple Regression and Correlation

Model Building

Models for Time Series and Forecasting

Decision Theory

Total Quality Management

Filters