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Question;2.61 At a university with 1,000 business majors;there are 200 business students enrolled in an introductory statistics;course. Of these 200 students, 50 are;also enrolled in an introductory accounting course. There are an additional 250 business students;enrolled in accounting but not enrolled in statistics. If a business student is selected at random;what is the probability that the student is enrolled in statistics?;(a) 0.05;(b) 0.20;(c) 0.25;(d) 0.30;(e) none of the above;2.62 At a university with;1,000 business majors, there are 200 business students enrolled in an;introductory statistics course. Of these;200 students, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students;enrolled in accounting but not enrolled in statistics. If a business student is selected at random;what is the probability that the student is enrolled in both statistics and;accounting?;(a) 0.05;(b) 0.06;(c) 0.20;(d) 0.25;(e) none of the above;2.63 At a university with 1,000 business majors;there are 200 business students enrolled in an introductory statistics;course. Of these 200 students, 50 are;also enrolled in an introductory accounting course. There are an additional 250 business students;enrolled in accounting but not enrolled in statistics. If a business student is selected at random;and found to be enrolled in statistics, what is the probability that the;student is also enrolled in accounting?;(a) 0.05;(b) 0.30;(c) 0.20;(d) 0.25;(e) none of the above;2.64 Suppose that, when the temperature is;between 35 and 50 degrees, it has historically rained 40% of the time. Also, historically the month of April has had;a temperature between 35 and 50 degrees on 25 days. You have scheduled a golf tournament for;April 12. What is the probability that;players will experience rain and a temperature between 35 and 50 degrees?;(a) 0.333;(b) 0.400;(c) 0.833;(d) 1.000;(e) 0.480;2.65 Suppose that;historically, April has experienced rain and a temperature between 35 and 50;degrees on 20 days. Also, historically;the month of April has had a temperature between 35 and 50 degrees on 25;days. You have scheduled a golf;tournament for April 12. If the;temperature is between 35 and 50 degrees on that day, what will be the;probability that the players will get wet?;(a) 0.333;(b) 0.667;(c) 0.800;(d) 1.000;(e) 0.556;2.66 At a university with;1,000 business majors, there are 200 business students enrolled in an;introductory;statistics course. Of these 200, 50 are;also enrolled in an introductory accounting;course. There are an additional 250 business students;enrolled in accounting but not enrolled;in statistics. If a business student is;selected at random, what is the probability that the;student;is enrolled in neither accounting nor statistics?;(a) 0.45;(b) 0.50;(c) 0.55;(d) 0.05;(e) none of the above;2.67 At a university with 1,000 business majors;there are 200 business students enrolled in an introductory statistics;course. Of these 200, 50 are also;enrolled in an introductory accounting course.;There are an additional 250 business students enrolled in accounting but;not enrolled in statistics. If a;business student is selected at random, what is the probability that the;student is not enrolled in accounting?;(a) 0.20;(b) 0.25;(c) 0.30;(d) 0.50;(e) none of the above;2.68 At a university with 1,000 business majors;there are 200 business students enrolled in an introductory statistics;course. Of these 200, 50 are also;enrolled in an introductory accounting course.;There are an additional 250 business students enrolled in accounting but;not enrolled in statistics. If a;business student is selected at random, what is the probability that the;student is not enrolled in statistics?;(a) 0.05;(b) 0.20;(c) 0.25;(d) 0.80;(e) none of the above;2.69 A production process is known to produce a;particular item in such a way that 5 percent of these are defective. If two;items are randomly selected as they come off the production line, what is the;probability that the second item will be defective?;(a) 0.05;(b) 0.005;(c) 0.18;(d) 0.20;(e) none of the above;2.70 A production process is known to produce a;particular item in such a way that 5 percent of these are defective. If two items;are randomly selected as they come off the production line, what is the;probability that both are defective (assuming that they are independent)?;(a) 0.0100;(b) 0.1000;(c) 0.2000;(d) 0.0025;(e) 0.0250;ANSWER: d {moderate;STATISICALLY INDEPENDENT EVENTS: AACSB: Analytic Skills};2.71 A company is;considering producing some new Gameboy electronic games. Based on past records, management believes;that there is a 70 percent chance that each of these will be successful, and a;30 percent chance of failure. Market research may be used to revise these;probabilities. In the past, the;successful products were predicted to be successful based on market research 90;percent of the time. However, for;products that failed, the market research predicted these would be successes 20;percent of the time. If market research;is performed for a new product, what is the probability that the results;indicate a successful market for the product and the product is actually not successful?;(a) 0.63;(b) 0.06;(c) 0.07;(d) 0.24;(e) 0.27;ANSWER: b {moderate;REVISING PROBABILITIES WITH BAYE?S THEOREM, AACSB: Analytic Skills};2.72 A company is considering producing some new;Gameboy electronic games. Based on past;records, management believes that there is a 70 percent chance that each of;these will be successful, and a 30 percent chance of failure. Market research;may be used to revise these probabilities.;In the past, the successful products were predicted to be successful based;on market research 90 percent of the time.;However, for products that failed, the market research predicted these;would be successes 20 percent of the time.;If market research is performed for a new product, what is the;probability that the results indicate an unsuccessful market for the product;and the product is actually successful?;(a) 0.63;(b) 0.06;(c) 0.07;(d) 0.24;(e) 0.21;2.73 A company is considering producing some new;Gameboy electronic games. Based on past;records, management believes that there is a 70 percent chance that each of;these will be successful, and a 30 percent chance of failure. Market research;may be used to revise these probabilities.;In the past, the successful products were predicted to be successful;based on market research 90 percent of the time. However, for products that failed, the market;research predicted these would be successes 20 percent of the time. If market research is performed for a new;product, what is the probability that the results indicate an unsuccessful;market for the product and the product is actually unsuccessful?;(a) 0.63;(b) 0.06;(c) 0.07;(d) 0.24;(e) 0.21;2.74 A company is;considering producing some new Gameboy electronic games. Based on past records, management believes;that there is a 70 percent chance that each of these will be successful, and a;30 percent chance of failure. Market research may be used to revise these;probabilities. In the past, the;successful products were predicted to be successful based on market research 90;percent of the time. However, for products;that failed, the market research predicted these would be successes 20 percent;of the time. If market research is;performed for a new product, what is the probability that the product will be;successful if the market research indicates a success?;(a) 0.10;(b) 0.90;(c) 0.91;(d) 0.63;(e) 0.09;ANSWER: c {hard, REVISING;PROBABILITIES WITH BAYE?S THEOREM, AACSB: Analytic Skills};2.75 A dry cleaning business offers a pick-up;and delivery service for a 10 percent surcharge. Management believes 60 percent;of customers will take advantage of this service. They are also considering;offering customers the option of opening an account and receiving monthly;bills. They believe 60 percent of their customers (regardless of whether or not;they use the pick-up service) will use the account service. If the two services;are introduced to the market, what is the probability a customer uses both;services?;(a) 0.12;(b) 0.60;(c) 0.36;(d) 0.24;(e) none of the above;2.76 A dry cleaning business offers a pick-up;and delivery service for a 10 percent surcharge. Management believes 60 percent;of the existing customers will take advantage of this service. They are also;considering offering customers the option of opening an account and receiving;monthly bills. They believe 60 percent of customers (regardless of whether or;not they use the pick-up service) will use the account service. If the two;services are introduced to the market, what is the probability that a customer;uses only one of these services?;(a) 0.40;(b) 0.60;(c) 0.48;(d) 0.24;(e) none of the above;2.77 A dry cleaning business offers a pick-up and;delivery service for a 10 percent surcharge. Management believes 60 percent of;the existing customers will take advantage of this service. They are also;considering offering customers the option of opening an account and receiving;monthly bills. They believe 60 percent of customers (regardless of whether or;not they use the pick-up service) will use the account service. If the two;services are introduced to the market, what is the probability a customer uses;neither of these services?;(a) 0.16;(b) 0.24;(c) 0.80;(d) 0.36;(e) none of the above;2.78 A company is considering producing some new;Gameboy electronic games. Based on past;records, management believes that there is a 70 percent chance that each of;these will be successful, and a 30 percent chance of failure. Market research;may be used to revise these probabilities.;In the past, the successful products were predicted to be successful;based on market research 90 percent of the time. However, for products that failed, the market;research predicted these would be successes 20 percent of the time. If market research is performed for a new;product, what is the probability that the product will be successful if the;market research indicates a failure?;(a) 0.20;(b) 0.90;(c) 0.91;(d) 0.63;(e) 0.09;2.79 Which distribution is helpful in testing;hypotheses about variances?;(a) binomial distribution;(b) F;distribution;(c) normal distribution;(d) Poisson distribution;(e) exponential distribution;2.80 A company is considering producing two new;electronic games designed for the popular Gameboy toy. Based on market data, management believes;there is a 60 percent chance that a ?cops and robbers? game will be successful;and a 40 percent chance that a ?let?s play house? game will be successful. As these products are completely different;it may be assumed that the success of one is totally independent of the success;of the other. If two products are;introduced to the market, what is the probability that both are successful?;(a) 0.12;(b) 0.60;(c) 0.36;(d) 0.24;(e) none of the above;2.81 A company is considering producing two new;electronic games designed for the popular Gameboy toy. Based on market data, management believes;that there is a 60 percent chance that a ?cops and robbers? game will be;successful, and a 40 percent chance that ?let?s play house? game will be;successful. As these products are;completely different, it may be assumed that the success of one is totally;independent of the success of the other.;If two products are introduced to the market, what is the probability;that both are failures?;(a) 0.16;(b) 0.24;(c) 0.80;(d) 0.36;(e) none of the above;2.82 A company is considering producing some new;Gameboy electronic games. Based on past;records, management believes that there is a 70 percent chance that each of;these will be successful, and a 30 percent chance of failure. Market research;may be used to revise these probabilities.;In the past, the successful products were predicted to be successful;based on market research 90 percent of the time. However, for products that failed, the market;research predicted these would be successes 20 percent of the time. If market research is performed for a new;product, what is the probability that the results indicate a successful market;for the product and the product actually is successful?;(a) 0.90;(b) 0.54;(c) 0.60;(d) 0.63;(e) none of the above;2.83 The expected value of a;probability distribution is;(a) the measure of the spread of the;distribution.;(b) the variance of the distribution.;(c) the average value of the distribution.;(d) the probability density function.;(e) the range of continuous values from;point A to point B, inclusive.;2.84 Which of the following is;not true for discrete random variables?;(a) The expected value is the weighted;average of the values.;(b) They can assume only a countable number;of values.;(c) The probability of each value of the;random variable must be 0.;(d) The probability values always sum up to;one.;(e) none of the above;2.85 The number of phone calls coming into a;switchboard in the next five minutes will either be 0, 1, or 2. The;probabilities are the same for each of these (1/3). If X is the number of calls arriving in a;five-minute time period, what is the mean of X?;(a) 1/3;(b) 2/3;(c) 1;(d) 4/3;(e) none of the above;2.86 The number of phone calls coming into a;switchboard in the next five minutes will either be 0, 1, 2, 3, 4, 5, or 6. The;probabilities are the same for each of these (1/7). If X is the number of calls arriving in a;five-minute time period, what is the mean of X?;(a) 2;(b) 3;(c) 4;(d) 5;(e) none of the above;2.87 A discrete random variable has a mean of;400 and a variance of 64. What is the;standard deviation?;(a) 64;(b) 8;(c) 20;(d) 400;(e) none of the above;2.88 Which of the following is;not true about continuous random variables?;(a) They have an infinite set of values.;(b) The area under each of the curves;represents probabilities.;(c) The entire area under each of the curves;equals one.;(d) Some may be described by uniform;distributions or exponential distributions.;(e) They are useful for describing a;discrete probability distribution.;2.89 Properties of the normal;distribution include;(a) a continuous bell-shaped distribution.;(b) a discrete probability distribution.;(c) the number of trials is known and is;either 1, 2, 3, 4, 5, etc.;(d) the random variable can assume only a;finite or limited set of values.;(e) use in queuing.;2.90 Which of the following;characteristics is true for a normal probability distribution?;(a) The area under the curve is one.;(b) It is symmetrical.;(c) The midpoint is also the mean.;(d) Sixty-eight percent of the area under;the curve lies within one standard deviation of the mean.;(e) All of the above are true.

 

Paper#60360 | Written in 18-Jul-2015

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