QMB Chapter 5

Which of the following is not a characteristic of a Poisson experiment? a. The experiment consists of counting the number of occurrences of an event over a period of time, area, distance, or any other type of measurement. b. The mean of the Poisson distribution has to be the same for each interval of measurement c. The number of occurrences during one interval has to be dependent of the number of occurrences in any other interval. d. The intervals that are defined in the Poisson process cannot be overlapping.

c

When the discrete random variable is expressed in terms of dollars, the mean of the distribution is known as the ________________________. expected value of sample information expected value of the distribution average value of the distribution expected monetary value

expected monetary value

T or F: An exponential probability distribution allows us to calculate the probability of a specific number of successes for a certain number of trials.

false

T or F: If you are counting the number of customers visiting your store on a given day, you are working with continuous data.

false

The ________ of a discrete probability distribution measures the dispersion of each outcome of the random variable from the mean of the distribution. standard deviation median expected value range

standard deviation

T or F: An expected value is another term for the mean of a probability distribution.

true

T or F: Discrete random variables have outcomes that typically take on whole numbers as a result of conducting an experiment.

true

T or F: Rating the satisfaction of a hotel room on a 1-5 scale is an example of a discrete random variable

true

T or F: The mean of the binomial distribution represents the long-term average number of successes to expect based on the number of trials conducted.

true

T or F: The number of typographical errors found in a manuscript would best be described using a Poisson probability distribution.

true