Business Stats Chapter Five Probability

any value in an interval or collection of intervals

A continuous random variable may assume

random variable

A numerical description of the outcome of an experiment is called a

binomial probability distribution

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

1.2

A sample of 2,500 people was asked how many cups of coffee they drink in the morning. You are given the following sample information. Cups of Coffee Frequency 0 700 1 900 2 600 3 300 Total: 2,500

Variance 2.0475

AMR is a computer-consulting firm. The number of new clients that they have obtained each month has ranged from 0 to 6. The number of new clients has the probability distribution that is shown below.

0.0778

Forty percent of all registered voters in a national election are female. A random sample of 5 voters is selected. Refer to Exhibit 5-9. The probability that there are no females in the sample is

2.4

he probability that Pete will catch fish on a particular day when he goes fishing is 0.8. Pete is going fishing 3 days next week. Refer to Exhibit 5-10. The expected number of days Pete will catch fish is

Both binomial probabilities and cumulative binomial probabilities are correct

Excel's BINOMDIST function can be used to compute

Both hypergeometric probabilities and cumulative hypergeometric probabilities are correct

Excel's HYPGEOMDIST function can be used to compute

Both Poisson probabilities and cumulative Poisson probabilities are correct.

Excel's POISSON function can be used to c

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

The expected value of a discrete random variable

None of the answers is correct.

The expected value of a random variable is the

probability of success changes from trial to trial

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

.9

The probability distribution for the daily sales at Michael's Co. is given below. Daily Sales ($1,000s) Probability 40 0.1 50 0.4 60 0.3 70 0.2 Refer to Exhibit 5-2. The probability of having sales of at least $50,000 is

2.4

The probability that Pete will catch fish on a particular day when he goes fishing is 0.8. Pete is going fishing 3 days next week. Refer to Exhibit 5-10. The expected number of days Pete will catch fish is

a cumulative probability is desired

When using Excel's POISSON function, one should choose TRUE for the third input if