Probability Theory and Past Due Accounts Essay

Decent Essays

MAT540 - Quantitative Methods (Homework # 2) Section A True/False Indicate whether the sentence or statement is true or false. __F__ 1. Two events that are independent cannot be mutually exclusive. __F__ 2. A joint probability can have a value greater than 1. __F__ 3. The intersection of A and Ac is the entire sample space. __T__ 4. If 50 of 250 people contacted make a donation to the city symphony, then the relative frequency method assigns a probability of .2 to the outcome of making a donation. __T__ 5. An automobile dealership is waiting to take delivery of nine new cars. Today, anywhere from zero to all nine cars might be delivered. It is appropriate to use the classical method to assign a probability of 1/10 to …show more content…

all accounts fewer than 31 or more than 60 days past due. c. all accounts from new customers and all accounts that are from 31 to 60 days past due. d. all new customers whose accounts are between 31 and 60 days past due. __C__ 15. In the set of all past due accounts, let the event A mean the account is between 31 and 60 days past due and the event B mean the account is that of a new customer. The union of A and B is a. all new customers. b. all accounts fewer than 31 or more than 60 days past due. c. all accounts from new customers and all accounts that are from 31 to 60 days past due. d. all new customers whose accounts are between 31 and 60 days past due. __D__ 16. In the set of all past due accounts, let the event A mean the account is between 31 and 60 days past due and the event B mean the account is that of a new customer. The intersection of A and B is a. all new customers. b. all accounts fewer than 31 or more than 60 days past due. c. all accounts from new customers and all accounts that are from 31 to 60 days past due. d. all new customers whose accounts are between 31 and 60 days past due. __A__ 17. The probability of an event a. is the sum of the probabilities of the sample points in the event. b. is the product of the probabilities of the sample points in the event. c. is the maximum of the probabilities of the sample points in the event. d. is the minimum of the probabilities of the sample points in the event. __C__ 18. If P