Exam 4: Probability

A market research firm is investigating the appeal of three package designs.The table below gives information obtained through a sample of 200 consumers.The three package designs are labelled A,B,and C.The consumers are classified according to age and package design preference. Are "B" and "25 or older" independent and why or why not?

Given two events A and B each with a non-zero probability,if the conditional probability of A given B is zero,it implies that the events A and B are mutually exclusive.

A market research firms conducts studies regarding the success of new products.The company is not always perfect in predicting the success.Suppose that there is a 50% chance that any new product would be successful (and a 50% chance that it would fail).In the past,for all new products that ultimately were successful,80% were predicted to be successful (and the other 20% were inaccurately predicted to be failures).Also,for all new products that were ultimately failures,70% were predicted to be failures (and the other 30% were inaccurately predicted to be successes).For any randomly selected new product,what is the probability that the market research firm would predict that it would be a success?

Given P (A)= 0.40,P (B)= 0.50,P (A $\cap$ B)= 0.15.Which of the following is true?

The table below provides summary information about students in a class.The sex of each individual and the major is given. If a student is randomly selected from this group,what is the probability that the student is male?

Which of the following is not a legitimate probability value?

Meagan Dubean manages a portfolio of 200 common stocks.Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Which of the following statements is true?

The table below provides summary information about students in a class.The gender of each individual and the major is given. A student is randomly selected from this group,and it is found that the student is majoring in finance.What is the probability that the student is a male?

Given two events A and B each with a non-zero probability,if the conditional probability of A given B is zero,it implies that the events A and B are independent.

A market research firm is investigating the appeal of three package designs.The table below gives information obtained through a sample of 200 consumers.The three package designs are labelled A,B,and C.The consumers are classified according to age and package design preference. If one of these consumers is randomly selected and prefers design B,what is the probability that the person is 25 or older?

An event that cannot be broken down into other events is called a certainty outcome.

Let A be the event that a student is enrolled in an accounting course,and let S be the event that a student is enrolled in a statistics course.It is known that 30% of all students are enrolled in an accounting course and 40% of all students are enrolled in statistics.Included in these numbers are 15% who are enrolled in both statistics and accounting.A student is randomly selected,and it is found that the student is enrolled in accounting.What is the probability that this student is also enrolled in statistics?

The list of all elementary events for an experiment is called the sample space.

Let A be the event that a student is enrolled in an accounting course,and let S be the event that a student is enrolled in a statistics course.It is known that 30% of all students are enrolled in an accounting course and 40% of all students are enrolled in statistics.Included in these numbers are 15% who are enrolled in both statistics and accounting.Find the probability that a student is in accounting and is also in statistics.

Which of the following is not a legitimate probability value?

A market research firm is investigating the appeal of three package designs.The table below gives information obtained through a sample of 200 consumers.The three package designs are labelled A,B,and C.The consumers are classified according to age and package design preference. If one of these consumers is randomly selected and is under 25,what is the probability that the person prefers design A?

An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased.Based on the following joint probability table that was developed from the dealer's records for the previous year,P (SUV)= ___.

Assigning probabilities by dividing the number of ways that an event can occur by the total number of possible outcomes in an experiment is called the relative frequency of occurrence method.

Given that two events,A and B,are independent,if the marginal probability of A is 0.6,the conditional probability of A given B will be 0.4.

Consider the following sample space,S,and several events defined on it.S = {Albert,Betty,Abel,Jack,Patty,Meagan},and the events are: F = {Betty,Patty,Meagan},H = {Abel,Meagan},and P = {Betty,Abel}.F $\cap$ H is ___.