Stats Quiz Chapter 4
The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap. A joint frequency table for the 100 golfers covered in the survey is shown below: Based on these data, if a player has a handicap that is 10 or more, the probability that he or she will use a Nike golf ball is: A) 0.21 B) 0.45 C) 0.48 D) 0.10
A) 0.21
A study was recently done in which 500 people were asked to indicate their preferences for one of three products. The following table shows the breakdown of the responses by gender of the respondents. Suppose one person is randomly chosen. Based on this data, what is the probability that the person chosen is a female who prefers product C? A) 0.24 B) 0.86 C) 0.31 D) 0.92
A) 0.24
When a football team plays a game, there are three outcomes that can occur: they can win, they can lose, or they can tie. The events are: A) mutually exclusive. B) dependent events. C) all inclusive. D) independent.
A) mutually exclusive.
The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap. A joint frequency table for the 100 golfers covered in the survey is shown below: Based on these data, the probability of a golfer having a handicap less than 10 is: A) 0.10 B) 0.52 C) 0.34 D) None of the above
B) 0.52
The method of probability assessment that is least likely to be used by business decision makers is: A) subjective assessment. B) classical assessment. C) relative frequency of occurrence. D) None of the above is used by decision makers.
B) classical assessment.
The Anderson Lumber Company has three sawmills that produce boards of different lengths. The following table is a joint frequency distribution based on a random sample of 1,000 boards selected from the lumber inventory. Based on these data, the probability of selecting a board from inventory that is 10 feet long is: A) 0.084 B) 0.196 C) 0.170 D) 0.450
C) 0.170
The Anderson Lumber Company has three sawmills that produce boards of different lengths. The following table is a joint frequency distribution based on a random sample of 1,000 boards selected from the lumber inventory. Based on these data, if a board is selected that is 12 feet long, the probability that it was made at sawmill A is: A) 0.08 B) 0.20 C) 0.41 D) 0.24
C) 0.41
A study was recently done in which 500 people were asked to indicate their preferences for one of three products. The following table shows the breakdown of the responses by gender of the respondents. Based on these data, the probability that a person in the population will prefer product A can be assessed as: A) 0.286 B) 0.18 C) 0.56 D) 0.16
C) 0.56
An event is: A) more frequently found in business than in other disciplines. B) the list of possible outcomes that can occur from a selection or decision. C) a collection of elementary events. D) similar to an experiment but not controlled by the decision maker.
C) a collection of elementary events.
The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap. A joint frequency table for the 100 golfers covered in the survey is shown below: If a player comes to the course using a Nike golf ball, the probability that he or she has a handicap of at least 10 is: A) 0.22 B) 0.10 C) slightly greater than 0.45 D) 0.48
C) slightly greater than 0.45
The Anderson Lumber Company has three sawmills that produce boards of different lengths. The following table is a joint frequency distribution based on a random sample of 1000 boards selected from the lumber inventory. Based on these data, if three boards are selected at random, the probability that all three were made at sawmill A is: A) 0.556 B) 1.00 C) 0.334 D) 0.037
D) 0.037
If two events are independent, then A) the sum of their probabilities must be equal to one. B) they must be mutually exclusive. C) their intersection must be zero. D) None of the above
D) None of the above
A study was recently done in which 500 people were asked to indicate their preferences for one of three products. The following table shows the breakdown of the responses by gender of the respondents. If the people conducting the study wish to assess the probability that product A will be preferred by members of the target population, the method of assessment to be used would most likely be: A) subjective assessment. B) independent events. C) classical probability assessment. D) relative frequency of occurrence.
D) relative frequency of occurrence.
The method of probability assessment that relies on an examination of historical data from similar situations is: A) classical assessment. B) historical assessment. C) subjective assessment. D) relative frequency of occurrence.
D) relative frequency of occurrence.
A dam on a river that holds back a water reservoir begins to leak. Engineers say that there is a 10 percent chance of the dam breaking if repairs are not made. This is an example of classical probability.
F
A manufacturing company makes three types of products. Each time it makes a product, the item can be either good or defective and it can be either customized or standard. The events consisting of customized and defective would be considered mutually exclusive since they apply to different attributes of the product.
F
At a potato processing plant in the state of Washington, 400 potatoes have been examined for disease. Of these, four were diseased. Based on this, the plant manager has stated that the probability of finding a diseased potato is 0.01. He is applying subjective probability to arrive at this 0.01 value.
F
If a manager were interested in assessing the probability that a new product will be successful in a New Jersey market area, she would most likely use relative frequency of occurrence as the method for assessing the probability.
F
If a single die is rolled (a cube where the sides are numbered 1 through 6), the probability of rolling at least a 3 is 0.33.
F
If two events are mutually exclusive, it is possible for them to also be independent of each other
F
Mutually exclusive means that the occurrence of event A has no effect on the probability of the occurrence of event B, and independent means the occurrence of event A prevents the occurrence of event B.
F
Suppose a coin is flipped twice. The event of getting heads on the first toss and the event of getting heads on the second toss could be said to be mutually exclusive.
F
The following probability distribution was subjectively assessed for the number of sales a salesperson would make if he or she made five sales calls in one day. Sales Probability 0 0.10 1 0.15 2 0.20 3 0.30 4 0.20 5 0.05 Given this distribution, the probability that the number of sales is less than 2 is 0.15
F
The owners of Greg's Department Store have reason to believe that one of their employees has been stealing from the store. In an interview with the police, the owner says that she is 75 percent sure that the employee is stealing. This probability is an example of one that was assessed using classical probability.
F
When customers come to a bank, there are three primary locations they may select to go to: teller, loan officer, or escrow department. Based on past experience, the following probability distribution applies: Location Probability Teller 0.60 Loan Officer 0.30 Escrow 0.10 Seventy percent of customers are males. Thus, the probability that the next customer to enter the bank is a male who goes to the teller is 1.30.
F
A neighborhood has 15 houses for sale. Five of these houses were less than 10 years old and the others were 10 years or older. If one house is purchased at random from this neighborhood, the probability that it is 10 years or older is 0.66.
T
If you were planning to take a small group out to dinner on a Thursday evening and you were considering whether to call ahead for a reservation, the method of probability assessment you would most likely use to assess the chances of being able to get in for dinner without having a reservation would be subjective assessment.
T
In playing the game Monopoly, the probability of a player landing on Park Place would be assessed using classical probability assessment.
T
It is correct to say that subjective probability assessments are neither right nor wrong, but are merely reflections of the state of mind of the individual making the probability assessment.
T
Suppose 10 students are enrolled in a class and the probability of at least 8 showing up on a given day is 90 percent. Then the probability of 7 or fewer showing that day is 10 percent
T
The following probability distribution was subjectively assessed for the number of sales a salesperson would make if he or she made five sales calls in one day. Sales Probability 0 0.10 1 0.15 2 0.20 3 0.30 4 0.20 5 0.05 Given this distribution, the probability that the number of sales is 2 or 3 is 0.50
T
Two football teams play in the Super Bowl. The event of team A winning and the event of team B winning can be said to be mutually exclusive.
T
When a construction company bids on a contract, the events will be win or lose. The closer the probability is to 0.50, the greater the uncertainty about whether the company will win or lose the bid.
T
When customers come to a bank, there are three primary locations they may select to go to: teller, loan officer, or escrow department. Based on past experience, the following probability distribution applies: Location Probability Teller 0.60 Loan Officer 0.30 Escrow 0.10 Seventy percent of customers are males. The probability that three consecutive customers all go to a teller is approximately 0.22
T
