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##### Probability Concepts and Applications test bank

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Question;Subjective;probability implies that we can measure the relative frequency of the values of;the random variable.;2.2 The use of "expert opinion" is;one way to approximate subjective probability values.;2.3 Mutually exclusive events exist if only;one of the events can occur on any one trial.;2.4 Stating that two events are statistically independent means that;the probability of one event occurring is independent of the probability of the;other event having occurred.;2.5 Saying that a set of events is;collectively exhaustive implies that one of the events must occur.;2.6 Saying that a set of events is mutually;exclusive and collectively exhaustive implies that one and only one of the;events can occur on any trial.;2.7 A posterior probability;is a revised probability.;2.8 Bayes' rule enables us to calculate the;probability that one event takes place knowing that a second event has or has;not taken place.;2.9 A probability density function is a mathematical way of describing;Bayes? Theorem.;2.10 The probability, P, of any event or state;of nature occurring is greater than or equal to 0 and less than or equal to 1.;2.11 A probability is a;numerical statement about the chance that an event will occur.;2.12 If two events are mutually exclusive, the;probability of both events occurring is simply the sum of the individual;probabilities.;2.13 Given two statistically;dependent events (A,B), the conditional probability of;p(A|B) = p(B)/p(AB).;2.14 Given two statistically independent events;(A,B), the joint probability of P(AB) = P(A) + P(B).;2.15 Given three statistically independent events;(A,B,C), the joint probability of P(ABC) = P(A)?P(B)?P(C).;2.16 Given two statistically independent events;(A,B), the conditional probability P(A|B) = P(A).;2.17 Suppose that you enter a drawing by;obtaining one of 20 tickets that have been distributed. By using the classical method, you can determine that the probability of your;winning the drawing is 0.05.;2.18 Assume that you have a box containing five;balls: two red and three white. You draw;a ball two times, each time replacing the ball just drawn before drawing the;next. The probability of drawing only;one white ball is 0.20.;2.19 If we roll a single die twice, the probability;that the sum of the dots showing on the two rolls equals four (4), is 1/6.;2.20 For two events A and Bthat are not;mutually exclusive, the probability that either Aor B will occur is P(A);? P(B) ? P(A and B).;2.21 If we flip a coin three times, the;probability of getting three heads is 0.125.;2.22 Consider a standard 52-card deck of;cards. The probability of drawing either;a seven or a black card is 7 / 13.;2.23 If a bucket has three black balls and seven;green balls, and we draw balls without replacement, the probability of drawing;a green ball is independent of the number of balls previously drawn.;2.24 Assume that you have an;urn containing 10 balls of the following description;4 are;white (W) and lettered (L);2 are;white (W) and numbered (N);3 are;yellow (Y) and lettered (L);1 is;yellow (Y) and numbered (N);If you draw a numbered;ball (N), the probability that this ball is white (W) is 0.667.;2.25 Assume that you have an;urn containing 10 balls of the following description;4 are;white (W) and lettered (L);2 are;white (W) and numbered (N);3 are;yellow (Y) and lettered (L);1 is;yellow (Y) and numbered (N);If you draw a numbered;ball (N), the probability that this ball is white (W) is 0.60.;2.26 Assume that you have an;urn containing 10 balls of the following description;4 are;white (W) and lettered (L);2 are;white (W) and numbered (N);3 are;yellow (Y) and lettered (L);1 is;yellow (Y) and numbered (N);If you draw a lettered;ball (L), the probability that this ball is white (W) is 0.571.;2.27 The joint probability of two or more;independent events occurring is the sum of their marginal or simple;probabilities.;2.28 The number of bad checks;written at a local store is an example of a discrete random variable.

Paper#60358 | Written in 18-Jul-2015

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