Exam (elaborations)
Mat 540 Quiz 2
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Mat 540 Quiz 2 Mat540 Quiz 2
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Question 12 out of 2 points
If two events are not mutually exclusive, then P(A or B) = P(A) + P(B)
Answer
Selected
Answer: False
Correct Answer:
False
Question 2
2 out of 2 points
Seventy two percent of all observations fall within 1 standard deviation of the mean if
the data is normally distributed.
Answer
Selected
Answer: False
Correct Answer:
False
Question 3
2 out of 2 points
Probability trees are used only to compute conditional probabilities.
Answer
Selected
Answer: False
Correct Answer:
False
Question 4
2 out of 2 points
The maximin approach involves choosing the alternative with the highest or lowest
payoff.
Answer
, Selected
Answer: False
Correct Answer:
False
Question 5
2 out of 2 points
The minimin criterion is optimistic.
Answer
Selected
Answer: True
Correct Answer:
Tru
e
Question 6
2 out of 2 points
Using the minimax regret criterion, we first construct a table of
regrets. Subsequently, for each possible decision, we look across the states of
nature and make a note of the maximum regret possible for that decision. We
then pick the decision with the largest maximum regret.
Answer
Selected
Answer: False
Correct Answer:
False
Question 7
2 out of 2 points
The Hurwicz criterion is a compromise between the minimax and minimin criteria.
Answer
Selected
Answer: False
Correct Answer:
False
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