Exam 11: Probability and Statistics

The standard normal distribution has a mean of one and a standard deviation of zero.

The collectively exhaustive set of events for flipping a coin is ________.

An automotive center keeps tracks of customer complaints received each week. The probability distribution for complaints can be represented as the table shown below. The random variable xi represents the number of complaints, and p(xi) is the probability of receiving xi complaints. 0 1 2 3 4 5 6 p() .10 .15 .18 .20 .20 .10 .07 What is the average number of complaints received per week?

The standard deviation of the standard normal distribution is equal to ________.

What is the area under the normal curve for Z ≥ 1.79?

If two events A and B are not mutually exclusive, then P(A or B) = ________.

An inspector correctly identifies defective products 90% of the time. For the next 10 products, the probability that he makes fewer than two incorrect inspections is 0.736.

The weight of a loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is more than 24 oz?

Seventy-two percent of all observations fall within one standard deviation of the mean if the data is normally distributed.

A Venn diagram visually displays mutually exclusive and non-mutually exclusive events.

In a binomial distribution process, there are ________ possible outcomes.

If x is normally distributed with a mean of 10 and a standard deviation of 3, then P(x ≤ 6) is equal to P( Z ≤ _____)?

A life insurance company wants to estimate its annual payouts. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 4 years. What proportion of the participants die before they reach the age of 65?

In Bayesian analysis, additional information is used to alter the conditional probability of the occurence of an event.

In a ________ distribution, for each of n trials, the event always has the same probability of occurring.

A life insurance company wants to estimate its annual payouts. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 4 years. What proportion of the plan recipients would receive payments beyond age 75?

A company markets educational software products, and is ready to place three new products on the market. Past experience has shown that for this particular software, the chance of "success" is 80%. Assume that the probability of success is independent for each product. -Find the probability that exactly 1 of the 3 products is successful.

Objective probabilities that can be stated prior to the occurrence of an event are classical or a priori.

The expected value of a discrete random variable is greater than or equal to zero.

The variance of a discrete random variable is always greater than or equal to zero.