BANA Midterm 2

According to the article in this Module, the probability of winning a prize at the in-store McDonald's Monopoly game was .0001 .1 . 0000001 .25

.25

The symbol ∩ shows the sample space. union of events. sum of the probabilities of events .intersection of two events.

.intersection of two events.

The range of probability is 0 to infinity 0 to 1 minus infinity to plus infinity minus 1 to 1

0 to 1

Which of the following is not a characteristic of the normal probability distribution? symmetry The mean is equal to the median, which is also equal to the mode. 99.72% of the time the random variable assumes a value within plus or minus 1 standard deviation of its mean. The total area under the curve is always equal to 1.

99.72% of the time the random variable assumes a value within plus or minus 1 standard deviation of its mean.

The union of events A and B is the event containing all the sample points belonging to A or B or both A or B A or B but not both B or A

A or B or both

Two events with nonzero probabilities are always mutually exclusive can be both mutually exclusive and independent cannot be both mutually exclusive and independent are always independent

cannot be both mutually exclusive and independent

The center of a normal curve cannot be negative. is always equal to zero. is the standard deviation. is the mean of the distribution.

is the mean of the distribution.

An experiment consists of four outcomes with P(E 1) = 0.2, P(E 2) = 0.3, and P(E 3) = 0.4. The probability of outcome E 4 is 0.100 0.900 0.500 0.024

0.100

The number of customers that enter a store during one day is an example of a continuous random variable. either a continuous or a discrete random variable, depending on whether odd or even number of the customers enter. either a continuous or a discrete random variable, depending on the gender of the customers. a discrete random variable.

a discrete 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 hypergeometric probability distribution. uniform probability distribution. normal probability distribution. binomial probability distribution.

binomial probability distribution.

The binomial probability distribution is used with a(n) _____ random variable. continuous uniform discrete intermittent

discrete

A random variable that can assume only a finite number of values is referred to as a(n) discrete probability function discrete random variable infinite sequence finite sequence

discrete random variable

In a binomial experiment, the probability does not change from trial to trial. could change from trial to trial, depending on the situation under consideration. could change depending on the number of outcomes. changes from trial to trial.

does not change from trial to trial.

What is a collection of sample points called? event union permutation intersection

event

A measure of the average value of a random variable is called a(n) expected value. variance. standard deviation. coefficient of variation.

expected value.

A continuous probability distribution that is useful in describing the time, or space, between occurrences of an event is a(n) _____ probability distribution. normal exponential uniform Poisson

exponential

There is a lower limit but no upper limit for a random variable that follows the _____ probability distribution. normal exponential uniform binomial

exponential

What probability distribution can be described by just one parameter? normal binomial uniform exponential

exponential

The _____ probability function is based in part on the counting rule for combinations. uniform Poisson hypergeometric exponential

hypergeometric

To compute the probability that in a random sample of n elements, selected without replacement, we will obtain x successes, we would use the _____ probability distribution. Poisson binomial exponential hypergeometric

hypergeometric

A sample point refers to the set of all possible experimental outcomes individual outcome of an experiment sample space numerical measure of the likelihood of the occurrence of an event

individual outcome of an experiment

An exponential probability distribution can be either continuous or discrete. must be normally distributed. is a discrete distribution. is a continuous distribution.

is a continuous distribution.

A normal probability distribution is a discrete probability distribution. is a continuous probability distribution. must have a standard deviation of 1. can be either continuous or discrete.

is a continuous probability distribution.

The probability that a continuous random variable takes any specific value is at least 0.5 is very close to 1.0 is equal to zero depends on the probability density function

is equal to zero

Chapter 5 focuses on descriptive statistics probability distributions random statistics inferential statistics

probability distributions

Chapter 6 focuses on probability distributions inferential statistics descriptive statistics interval estimation

probability distributions

A numerical description of the outcome of an experiment is called a probability function. random variable. descriptive statistic. variance.

random variable.

The Statistics in Practice example in Chapter 6 identifies an application concerned with forest management sales raw material prices customer arrivals

raw material prices

A method of assigning probabilities based upon judgment is referred to as the _____ method. classical probability relative subjective

subjective

The probability of an event is the _____ of the probabilities of the sample points in the event. sum product maximum minimum

sum

The highest point of a normal curve occurs at approximately three standard deviations to the right of the mean. the mean. one standard deviation to the right of the mean. two standard deviations to the right of the mean.

the mean.

A negative value of z indicates that a mistake has been made in computations, since z cannot be negative. the number of standard deviations an observation is to the left of the mean. the number of standard deviations an observation is to the right of the mean. that the data has a negative mean.

the number of standard deviations an observation is to the left of the mean.

In a standard normal distribution, the mean and the standard deviation can have any value. mean and the standard deviation are both 1. mean is 0 and the standard deviation is 1. mean is 1 and the standard deviation is 0.

mean is 0 and the standard deviation is 1.

The intersection of two mutually exclusive events must always be equal to 1. can be any positive value. can be any value between 0 to 1. must always be equal to 0.

must always be equal to 0.

The company identified in Chapter 5, Statistics in Practice is Small Fry Design Colgate-Palmolive not a company but precinct polling locations NASA

not a company but precinct polling locations

The Statistics in Practice example in Chapter 4 is primarily concerned with part failures sales accounts receivable accounts payable

part failures

The counting rule that is used for counting the number of experimental outcomes when n objects are selected from a set of N objects where order of selection is important is called the counting rule for independent events. multiple-step random experiments. combinations. permutations

permutations.

The Statistics in Practice example in Chapter 5 focuses on accounts receivable sales polling booths or machines accounts payable

polling booths or machines

Initial estimates of the probabilities of events are known as _____ probabilities posterior prior conditional subjective

prior

Chapter 4 focuses on descriptive statistics inferential statistics random statistics probability

probability

The function that defines the probability distribution of a continuous random variable is a uniform function probability density function either normal of uniform depending on the situation normal function

probability density function

The addition law is potentially helpful when we are interested in computing the probability of the union of two events. independent events. conditional events. experimental outcomes.

the union of two events.

A graphical method of representing the sample points of an experiment is a dot plot. tree diagram. stem-and-leaf display. stacked bar chart.

tree diagram.

The symbol ∪ shows the intersection of two events .sum of the probabilities of events. sample space. union of events.

union of events

Larger values of the standard deviation result in a normal curve that is wider and flatter. skewed to the right. narrower and more peaked. skewed to the left.

wider and flatter.

Which of the following is a characteristic of an experiment where the binomial probability distribution is applicable? The probabilities of the outcomes changes from one trial. The trials are dependent on each other. Exactly two outcomes are possible on each trial. The experiment has at least two possible outcomes.

Exactly two outcomes are possible on each trial.

The company identified in Chapter 4, Statistics in Practice is Colgate-Palmolive Small Fry Design NASA Bloomberg BusinessWeek

NASA

What is the complement of P(A|B)? P(B|A) P(A|BC) P(AC|B) P(A ∩ B)

P(AC|B)

A graphical representation in which the sample space is represented by a rectangle and events are represented as circles is called a pie chart. Venn diagram. box plot. Pareto chart.

Venn diagram.

The Poisson probability distribution is used with _____ random variable. a continuous a discrete either a continuous or discrete any

a discrete

If A and B are mutually exclusive events with P(A) = 0.295, P(B) = 0.32, then P(A | B) = 0.0000 0.0944 0.6150 1.0000

0.0000

The sum of the probabilities of two complementary events is 1.0 0.50 0 unknown

1.0

An experiment consists of three steps. There are four possible results on the first step, three possible results on the second step, and two possible results on the third step. The total number of experimental outcomes is 14 36 9 24

24

According to Perfect Payday, Jeffrey Rich was Chairman of Vitesse Semiconductor Corp. a staff writer for WSJ CEO of Affiliated Computer Services Head of the SEC

CEO of Affiliated Computer Services

A decision maker subjectively assigned the following probabilities to the four outcomes of an experiment: P(E1) = 0.05, P(E2) = 0.15, P(E3) = 0.40, and P(E4) = 0.35. Are these probability assignments valid? Explain. No, the subjective method requires that all probabilities be equal. No, the probabilities do not sum to 1. Yes, 0 ≤ P(Ei) ≤ 1 for all i and the probabilities' sum is greater than 1. Yes, 0 ≤ P(Ei) ≤ 1 for all i and the probabilities' sum is less than 1.

No, the probabilities do not sum to 1.

When dealing with the number of occurrences of an event over a specified interval of time or space, the appropriate probability distribution is a _____ distribution. hypergeometric probability Poisson binomial normal

Poisson

In the textile industry, a manufacturer is interested in the number of blemishes or flaws occurring in each 100 feet of material. The probability distribution that has the greatest chance of applying to this situation is the Uniform distribution Normal distribution Poisson distribution Binomial distribution

Poisson distribution

The company identified in Chapter 6, Statistics in Practice is Colgate-Palmolive Proctor & Gamble Citibank MeadWestvaco

Proctor & Gamble

The z score for the standard normal distribution is always equal to zero. is always equal to the mean. can never be negative. can be either negative or positive.

can be either negative or positive.

A normal probability distribution can have a mean of any numerical value. must have a standard deviation of 1 and a mean of 0. has a standard deviation of 0. needs to have a mean of 0.

can have a mean of any numerical value.

The standard deviation of a normal distribution cannot be negative. can be any value. is always 0. is always 1.

cannot be negative.

When the assumption of equally likely outcomes is used to assign probability values, the method used to assign probabilities is referred to as the _____ method. probability subjective classical relative frequency

classical

The counting rule that is used for counting the number of experimental outcomes when n objects are selected from a set of N objects where order of selection is not important is called the rule for combinations. independent events. permutations. multiple-step experiments.

combinations.

Posterior probabilities are _____ probabilities. conditional joint marginal independent

conditional

The key difference between the binomial and hypergeometric distribution is that, with the hypergeometric distribution, the trials are independent of each other. random variable is continuous. probability of success changes from trial to trial. probability of success must be less than 0.5.

probability of success changes from trial to trial.

When the results of experimentation or historical data are used to assign probability values, the method used to assign probabilities is referred to as the _____ method. posterior subjective classical relative frequency

relative frequency

Bayes' theorem is used to compute intersection of events. the prior probabilities. the posterior probabilities. the union of events.

the posterior probabilities.

If two events are independent, then their intersection must be zero they must be mutually exclusive the sum of their probabilities must be equal to one the product of their probabilities gives their intersection.

the product of their probabilities gives their intersection.

The collection of all possible sample points in an experiment is the sample space an event a combination the population

the sample space