BUSA-2100 Ch 5

Excel's _____ function can be used to compute the expected value of a discrete random variable.

SUMPRODUCT

Excel's _____ function can be used to compute the variance of a discrete random variable.

SUMPRODUCT

Highway patrol officers measure the speed of automobiles on a highway using radar equipment. The random variable in this experiment is speed, measured in miles per hour. This random variable is a _____.

continuous random variable

The expected value of a discrete random variable _____.

is the average value for the random variable over many repeats of the experiment

The key difference between binomial and hypergeometric distributions is that with the hypergeometric distribution the _____.

probability of success changes from trial to trial

Which of the following is a required condition for a discrete probability function?

∑f(x) = 1

Which of the following is NOT a characteristic of an experiment where the binomial probability distribution is applicable?

The trials are dependent.

Which of the following is a characteristic of a binomial experiment?

The trials are independent.

Variance is _____.

a measure of the dispersion of a random variable

A probability distribution showing the probability of x successes in n trials, where the probability of success does not change from trial to trial, is termed a _____.

binomial probability distribution

A marketing manager instructs his team to make 80 telephone calls to attempt to sell an insurance policy. The random variable in this experiment is the number of sales made. This random variable is a _____.

discrete random variable

A random variable that can assume only a finite number of values is referred to as a(n) _____.

discrete random variable

The weight of an object, measured to the nearest gram, is an example of _____.

discrete random variable

A measure of the average value of a random variable is called a(n) _____.

expected value

A weighted average of the value of a random variable, where the probability function provides weights, is known as _____.

expected value