Business Statistics Quiz 5

An illustration of an experiment is turning the ignition key of an automobile as it comes off the assembly line to determine whether or not the engine will start A. true B. false

A true

The result of a particular experiment is called a(n) _____. A. observation B. conditional probability C. Event D. outcome

D. outcome

When applying the special rule of addition for mutually exclusive events, the joint probability is _____. A. 1 B. .5 C. 0 D. unknown

C. 0

The probability of two or more events occurring concurrently is called a(n) ______. A. conditional probability B. Empirical probability C. joint probability D. tree diagram

C. joint diagram

Which approach to probability assumes that the events are equally likely? A classical B. empirical C. subjective D. mutually exclusive

A. Classical

The probability of an even that is affected by one or more other events is called a ______ A. conditional probability B. empirical probability C. joint probability D. tree diagram

A. conditional probability

A joint probability measures the likelihood that two or more events will happen concurrently A. true B. false

A. true

If there are "m" ways of doing one thing, and "n" ways of doing another thing, the multiplication formula states that there are "m" x "n" ways of doing both A. true B. false

A. true

The complement rule states that the probability of an event not occurring is equal to one minus the probability of its occurrence A. true B. false

A. true

To apply the special rule of addition, the events must be mutually exclusive A. true B. false

A. true

an individual can assign a subjective probability to an event based on the individual's knowledge about the even A. true B. false

A. true

the probability of rolling a 3 or 2 on a single die is an example of mutually exclusive events A. true B. false

A. true

Which approach to probability is exemplified by the following formula Probability of an event = Number of times event occurred in the past/ total number of observation A. classical approach B. empirical approach C. subjective approach D. none apply

B. empirical rule

A combination of a set of objects is defined by the order of the objects A. true B. false

B. false

the probability of rolling a 3 or 2 on a single die is an example of conditional probability A. true B. false

B. false

When are two experimental outcomes mutually exclusive? A when they overlap on a Venn Diagram B. if one outcome occurs, then the other cannot C. when the probability of one effects the probability of the other D. when the joint probability of the two outcomes is not equal to zero

B. if one outcome occurs, then the other cannot

If two events are independent, then their joint probability is computed with _____. A. the special rule of addition B. the special rule of multiplication C. the general rule of multiplication D. the bayes theorem

B. the special rule of multiplication