Applied Statistics in Business and Economics Quiz 2 With Instructor Notes
B) they are independent events.
C) P(A)P(B) = 0D) P(A)P(B) = P(A  B)Answer: A2. Independent events A and B would be consistent with which of the following statements:A) P(A) = .3, P(B) = .5, P(A B) = .4B) P(A) = .4, P(B) = .5, P(A B) = .2C) P(A) = .5, P(B) = .4, P(A B) = .3D) P(A) = .4, P(B) = .3, P(A B) = .5Answer: B3. The probability of event A occurring given event B has occurred is an example ofA) a …show more content…
Answer: B20. Which of the following distributions is not discrete?A) Binomial.
B) Geometric.
C) PoissonD) Normal.
Answer: D21. In a randomlychosen month, which probability model would you use to describe the number of accidents at the intersection of two streets?A) BinomialB) PoissonC) HypergeometricD) GeometricAnswer: B22. A carnival has a game of chance: a fair coin is tossed. If it lands heads you win $1.00 and if it lands tails you lose 50 cents. How much should a ticket cost if the carnival wants to breakeven?A) $0.50B) $0.25C) $ 0.75D) $1.00Answer: BAt Break evenE(X) = 0X 1 .50P (X = x) . 5 .5E ( X) = 1 * .5  .5 * .5 = .5  .25 = 0.2523. A die is rolled. If it rolls to 1, 2 you win $2. If it rolls to a 3, 4, 5, 6 you lose $1. Find the expected winnings.
A) $1B) $2C) $0.50D) $0.25Answer: AUse the following to answer 2427The discrete random variable X is the number of students that show up for Professor Smith's office hours on Monday afternoons. The table below shows the probability distribution for X24. What is the E(X) for this distribution?A) 0B) 1C) 1.5D) 2Answer: BE ( X ) = 0 * .40 + 1 *.30 + 2 *.20 + 3*.10= .30 +.40 +.30= 125. What is the probability that at least 1 student comes to office hours on any given Monday?A) .30B) .40C) .50D) .60Answer: DP ( X ≥ 1 ) = P ( X = 1) + P ( X = 2 ) + P ( X = 3)= .30 +.20 +.10= 0.6026. What is the probability that fewer than 2 students come to office hours on any given

Managerial Economics Applied Problems Chp 1 and 2 Essay examples
667 Words  3 PagesChapter 1 – Applied Problem 1 § Explicit costs are monetary costs of using marketsupplied resources. Explicit Costs   Cost of Products and Services  $355,000  Selling Expenses  $155,000  Administrative Expenses  $45,000  Interest Expense  $45,000  Legal Expenses  $28,000  Income Taxes  $165,000  Total Explicit Costs  $793,000  § Implicit costs are nonmonetary costs of using ownersupplied resources. Implicit Costs   Forgone Salary  $175,000…

Qnt/561 Applied Business Research & Statistics
939 Words  4 PagesApplied Research and Statistics QNT561 Research and Sampling Designs Shindeera Robinson June 21, 2010 Chapter 8 21. What is sampling error? Could the value of the sampling error be zero? If it were zero, what would this mean? Sampling error is the difference between the statistic estimated from a sample and the true population statistic. While we would expect the sampling error to not be zero, it is not impossible. For example if you were evaluating the ethnicities of a population and everyone…

Applied Statistics in Business and Economics, by Doane and Seward: Chapter 15 – Chapter Exercises 15.18, 15.22, 15.24, and 15.28
1399 Words  6 PagesPrepare answers to the following assignments from the etext, _Applied Statistics in Business and Economics_, by Doane and Seward: Chapter 15  Chapter Exercises 15.18, 15.22, 15.24, and 15.28 15.18 SIXTYFOUR STUDENTS IN AN INTRODUCTORY COLLEGE ECONOMICS CLASS WERE ASKED HOW MANY CREDITS THEY HAD EARNED IN COLLEGE, AND HOW CERTAIN THEY WERE ABOUT THEIR CHOICE OF MAJOR. RESEARCH QUESTION: AT Α = .01, IS THE DEGREE OF CERTAINTY INDEPENDENT OF CREDITS EARNED? CREDITS EARNED VERY UNCERTAIN SOMEWHAT…

Applied Statistics in Business and Economics Quiz 1 With Instructor Notes
2045 Words  9 PagesUniversity of Phoenix OnlineCourse: RES / 341QUIZ # 1(Chapter 3 and 4 from Applied Statistics in Business and Economics )45 Questions [Each Question = 1 Point]SOLUTIONPlease mark one answer for all multiple choice questions with RED!Chapter 3Multiple Choice1. Which is not a tip for effective bar charts?A) Time usually goes on the horizontal axis. B) Bar height or length should be proportional to the quantity displayed. C) Label data values at the top of each bar unless graphing lots of data. D)…

Statistics for Management and Economics
6132 Words  25 PagesTo be posted for each section on eLearning Please note: Office hours are not to be used to reiterate a class that was missed. Have your questions or problems prepared before coming to see either your professor or TA. Written evidence you have attempted problems will be required. General Course Information Prerequisite: MATH 5304 or equivalent Course Description OPRE 6301 Quantitative Introduction to Risk and Uncertainty in Business (3 semester hours) Introduction to statistical and probabilistic…

Moral Issues in Business  Chapter 2 Notes
793 Words  4 PagesCHAPTER 2 Normative Theories of Ethics Chapter Summary Points 1. Consequentialist moral theories see the moral rightness or wrongness of actions as a function of their results. If the consequences are sufficiently good, the action is right; if they are sufficiently bad, the action is wrong. However, nonconsequentialist theories see other factors as also relevant to the determination of right and wrong. 2. Egoism is the consequentialist theory that an action is right when it…

Week 2 Quiz
1376 Words  6 PagesSciences Quiz #1 Instructions: Answer 33 questions on this quiz. That means skip 3 questions. If you answer more than 33 I will choose up to 3 random numbers and will disregard those questions so only 33 will remain to be graded. All questions are worth the same point value (3 points each). Email me your completed quiz no later than Sunday, Nov 2nd. Chapter 1: TRUE/FALSE (19) 1) Management science involves the philosophy of approaching a problem in a subjective manner. FALSE 2) Management…

Applied Statistics in Business and Economics, by Doane and Seward: Text Questions. 2)<Tab/>Chapter Exercises 12.48 and 12.50 b. Chapter Exercises 13.30 and 13.32 c.Chapter Exercise 14.16
1581 Words  7 PagesPrepare answers to the following assignments from the etext, _Applied Statistics in Business and Economics_, by Doane and Seward: Chapter 12 CHAPTER REVIEW #1 Chapter Exercises 12.48 and 12.50 Chapter 13 Chapter Exercises 13.30 and 13.32 Chapter 14 Chapter Exercise 14.16 CHAPTER 12 CHAPTER REVIEW #1 LIST TWO LIMITATIONS OF BIVARIATE REGRESSION. Often simplistic (multiple relationships usually exist. Biased estimates, even if relevant predictors are omitted. WHY IS ESTIMATING A MULTIPLE…

Business Ethics Quiz 2 Essay
658 Words  3 Pagespoints Incorrect Nonconsequentialists like Ross believe that Answer Selected Answer: we have no obligation to promote general welfare. Correct Answer: morality permits each of us a sphere in which to pursue our own plans and goals. Question 2 0 out of 5 points Incorrect Utilitarians believe that Answer Selected Answer: an action can't be right if the people who are made happy by it are outnumbered by the people who are made unhappy by it. Correct Answer: an action that leads…

Strayer University: Week 3 Business Quiz 2 Chapter 3 Questions
2206 Words  9 PagesBUS 365 WK 3 Quiz 2 Chapter 3 Purchase this tutorial here: http://xondow.com/BUS365WK3Quiz2Chapter3BUS3652.htm Multiple Choice 1. __________ consists of powerful software tools to discover and extract knowledge from text documents. a) Document mining b) Master data management c) Knowledge mining d) Text mining 2. What is the goal of data management? a) To store data and documents in multiple locations to insure that they are accessible to everyone on demand. b) To capture financial…
More about Applied Statistics in Business and Economics Quiz 2 With Instructor Notes

Managerial Economics Applied Problems Chp 1 and 2 Essay examples
667 Words  3 Pages 
Qnt/561 Applied Business Research & Statistics
939 Words  4 Pages 
Applied Statistics in Business and Economics, by Doane and Seward: Chapter 15 – Chapter Exercises 15.18, 15.22, 15.24, and 15.28
1399 Words  6 Pages 
Applied Statistics in Business and Economics Quiz 1 With Instructor Notes
2045 Words  9 Pages 
Statistics for Management and Economics
6132 Words  25 Pages 
Moral Issues in Business  Chapter 2 Notes
793 Words  4 Pages 
Week 2 Quiz
1376 Words  6 Pages 
Applied Statistics in Business and Economics, by Doane and Seward: Text Questions. 2)
1581 Words  7 PagesChapter Exercises 12.48 and 12.50 b. Chapter Exercises 13.30 and 13.32 c.Chapter Exercise 14.16 
Business Ethics Quiz 2 Essay
658 Words  3 Pages 
Strayer University: Week 3 Business Quiz 2 Chapter 3 Questions
2206 Words  9 Pages