Question 1

The number of different committees of 2 students that can be chosen from a group of 5 students is

Accepted Answer

A) 20 
B) 2 
C) 5 
D) 10 
E) 1 
A) 20 
B) 2 
C) 5 
D) 10 
E) 1 D

Question 2

An analysis of personal loans at a local bank revealed the following facts: 10% of all personal loans are in default (D),90% of all personal loans are not in default (D΄),20% of those in default are homeowners (H | D),and 70% of those not in default are homeowners (H | D΄).If a personal loan is selected at random,P (D | H)= ___________.

Accepted Answer

A) 0.03 
B) 0.63 
C) 0.02 
D) 0.18 
E) 0.78 
A) 0.03 
B) 0.63 
C) 0.02 
D) 0.18 
E) 0.78 A

Question 3

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 labeled A,B,and C.The consumers are classified according to age and package design preference.   If one of these consumers is randomly selected,what is the probability that the person prefers design A?

Accepted Answer

A) 0.76 
B) 0.38 
C) 0.33 
D) 0.22 
E) 0.39 
A) 0.76 
B) 0.38 
C) 0.33 
D) 0.22 
E) 0.39 B

Question 4

Abel Alonzo,Director of Human Resources,is exploring employee absenteeism at the Plano Power Plant.Ten percent of all plant employees work in the finishing department; 20% of all plant employees are absent excessively; and 7% of all plant employees work in the finishing department and are absent excessively.A plant employee is selected randomly; F is the event "works in the finishing department;" and A is the event "is absent excessively." P(F|A)= _____________.

Accepted Answer

A) 0.35 
B) 0.70 
C) 0.13 
D) 0.37 
E) 0.10 
A) 0.35 
B) 0.70 
C) 0.13 
D) 0.37 
E) 0.10

Question 5

Which of the following is a legitimate probability value?

Accepted Answer

A) 1.67 
B) 16/15 
C) -0.23 
D) 3/2 
E) 0.28 
A) 1.67 
B) 16/15 
C) -0.23 
D) 3/2 
E) 0.28

Question 6

It is known that 20% of all students in some large university are overweight,20% exercise regularly and 2% are overweight and exercise regularly.What is the probability that a randomly selected student is overweight given that this student exercises regularly?

Accepted Answer

A) 0.40 
B) 0.38 
C) 0.20 
D) 0.42 
E) 0.10 
A) 0.40 
B) 0.38 
C) 0.20 
D) 0.42 
E) 0.10

Question 7

The list of all elementary events for an experiment is called _______.

Accepted Answer

A) the sample space 
B) the exhaustive list 
C) the population space 
D) the event union 
E) a frame 
A) the sample space 
B) the exhaustive list 
C) the population space 
D) the event union 
E) a frame

Question 8

Given P (A)= 0.45,P (B)= 0.30,P (A $\cap$ B)= 0.05.Which of the following is true?

Accepted Answer

A) A and B are independent 
B) A and B are mutually exclusive 
C) A and B are collectively exhaustive 
D) A and B are not independent 
E) A and B are complimentary 
A) A and B are independent 
B) A and B are mutually exclusive 
C) A and B are collectively exhaustive 
D) A and B are not independent 
E) A and B are complimentary

Question 9

The probability of A $\cup$ B where A is receiving a state grant and B is receiving a federal grant is the probability of receiving no more than one of the two grants.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following statements is not true regarding probabilities:

Accepted Answer

A) probability is the basis for inferential statistics 
B) probabilities are subjective measures with limited value in business. 
C) probabilities are used to determine the likelihood of certain outcomes 
D) probabilities can inform many business decisions. 
A) probability is the basis for inferential statistics 
B) probabilities are subjective measures with limited value in business. 
C) probabilities are used to determine the likelihood of certain outcomes 
D) probabilities can inform many business decisions.

Question 11

If two events are mutually exclusive,then the two events are also independent.

Accepted Answer

A) True 
 B)False

Question 12

If X and Y are mutually exclusive events,then if X occurs _______.

Accepted Answer

A) Y must also occur 
B) Y cannot occur 
C) X and Y are independent 
D) X and Y are complements 
E) A and Y are collectively exhaustive 
A) Y must also occur 
B) Y cannot occur 
C) X and Y are independent 
D) X and Y are complements 
E) A and Y are collectively exhaustive

Question 13

If two events are mutually exclusive,then their joint probability is always zero.

Accepted Answer

A) True 
 B)False

Question 14

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

Accepted Answer

A) True 
 B)False

Question 15

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?

Accepted Answer

A) Growth and Healthcare are complementary events. 
B) Electronics and Growth are independent. 
C) Electronics and Growth are mutually exclusive. 
D) Airlines and Healthcare are collectively exhaustive. 
E) Electronics and Healthcare are collectively exhaustive. 
A) Growth and Healthcare are complementary events. 
B) Electronics and Growth are independent. 
C) Electronics and Growth are mutually exclusive. 
D) Airlines and Healthcare are collectively exhaustive. 
E) Electronics and Healthcare are collectively exhaustive.

Question 16

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 (Male)= ________

Accepted Answer

A) 0.48 
B) 0.50 
C) 0.20 
D) 0.02 
E) 0.60 
A) 0.48 
B) 0.50 
C) 0.20 
D) 0.02 
E) 0.60

Question 17

Let F be the event that a student is enrolled in a finance course,and let S be the event that a student is enrolled in a statistics course.It is known that 40% of all students are enrolled in a finance course and 35% of all students are enrolled in statistics.Included in these numbers are 15% who are enrolled in both statistics and finance.A student is randomly selected,what is the probability that the student is enrolled in either finance or statistics or both?

Accepted Answer

A) 0.15 
B) 0.75 
C) 0.60 
D) 0.55 
E) 0.90 
A) 0.15 
B) 0.75 
C) 0.60 
D) 0.55 
E) 0.90

Question 18

The method of assigning probabilities to uncertain outcomes based on laws and rules is called the relative frequency method.

Accepted Answer

A) True 
 B)False

Question 19

Let F be the event that a student is enrolled in a finance course,and let S be the event that a student is enrolled in a statistics course.It is known that 40% of all students are enrolled in an finance course and 35% of all students are enrolled in statistics.Included in these numbers are 15% who are enrolled in both statistics and finance.Find P(S).

Accepted Answer

A) 0.15 
B) 0.35 
C) 0.40 
D) 0.55 
E) 0.60 
A) 0.15 
B) 0.35 
C) 0.40 
D) 0.55 
E) 0.60

Question 20

The table below provides summary information about students in a class.The sex of each individual and their age is given.   A student is randomly selected from this group,and it is found that the student is older than 25 years.What is the probability that the student is a male?

Accepted Answer

A) 0.21 
B) 0.10 
C) 0.50 
D) 0.54 
E) 0.26 
A) 0.21 
B) 0.10 
C) 0.50 
D) 0.54 
E) 0.26

The number of different committees of 2 students that can be chosen from a group of 5 students is

Which of the following is a legitimate probability value?

It is known that 20% of all students in some large university are overweight,20% exercise regularly and 2% are overweight and exercise regularly.What is the probability that a randomly selected student is overweight given that this student exercises regularly?

The list of all elementary events for an experiment is called _______.

Given P (A)= 0.45,P (B)= 0.30,P (A $\cap$ B)= 0.05.Which of the following is true?

The probability of A $\cup$ B where A is receiving a state grant and B is receiving a federal grant is the probability of receiving no more than one of the two grants.

Which of the following statements is not true regarding probabilities:

If two events are mutually exclusive,then the two events are also independent.

If X and Y are mutually exclusive events,then if X occurs _______.

If two events are mutually exclusive,then their joint probability is always zero.

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

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?

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 (Male)= ________

The method of assigning probabilities to uncertain outcomes based on laws and rules is called the relative frequency method.

The table below provides summary information about students in a class.The sex of each individual and their age is given. A student is randomly selected from this group,and it is found that the student is older than 25 years.What is the probability that the student is a male?

Introduction to Statistics

Charts and Graphs

Descriptive Statistics

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Exam 4: Probability

The number of different committees of 2 students that can be chosen from a group of 5 students is

Which of the following is a legitimate probability value?

It is known that 20% of all students in some large university are overweight,20% exercise regularly and 2% are overweight and exercise regularly.What is the probability that a randomly selected student is overweight given that this student exercises regularly?

The list of all elementary events for an experiment is called _______.

Given P (A)= 0.45,P (B)= 0.30,P (A ∩\cap∩ B)= 0.05.Which of the following is true?

The probability of A ∪\cup∪ B where A is receiving a state grant and B is receiving a federal grant is the probability of receiving no more than one of the two grants.

Which of the following statements is not true regarding probabilities:

If two events are mutually exclusive,then the two events are also independent.

If X and Y are mutually exclusive events,then if X occurs _______.

If two events are mutually exclusive,then their joint probability is always zero.

Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty.

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?

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 (Male)= ________

The method of assigning probabilities to uncertain outcomes based on laws and rules is called the relative frequency method.

The table below provides summary information about students in a class.The sex of each individual and their age is given. A student is randomly selected from this group,and it is found that the student is older than 25 years.What is the probability that the student is a male?

Introduction to Statistics

Charts and Graphs

Descriptive Statistics

Discrete Distributions

Continuous Distributions

Sampling and Sampling Distributions

Statistical Inference: Estimation for Single Populations

Statistical Inference: Hypothesis Testing for Single Populations

Statistical Inferences About Two Populations

Analysis of Variance and Design of Experiments

Simple Regression Analysis and Correlation

Multiple Regression Analysis

Building Multiple Regression Models

Time-Series Forecasting and Index Numbers

Analysis of Categorical Data

Nonparametric Statistics

Statistical Quality Control

Decision Analysis

Filters

Given P (A)= 0.45,P (B)= 0.30,P (A $\cap$ B)= 0.05.Which of the following is true?

The probability of A $\cup$ B where A is receiving a state grant and B is receiving a federal grant is the probability of receiving no more than one of the two grants.