Applied Statistics in Business and Economics Quiz 2 With Instructor Notes

1851 Words Aug 18th, 2009 8 Pages
University of Phoenix OnlineCourse: RES / 341QUIZ # 2(Chapter 5+6+7 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 51. Events A and B are mutually exclusive whenA) the joint probability of the two events is zero.

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
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D) has none of the above properties.

Answer: B20. Which of the following distributions is not discrete?A) Binomial.

B) Geometric.

C) PoissonD) Normal.

Answer: D21. In a randomly-chosen 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 24-27The 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
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