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Business Stats: Exam Questions With 100% Correct Answers
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Business Stats: Exam Questions With 100% Correct Answers The mean of a probability distribution is called its expected value. T For the following distribution. What is the mean of the distribution? X P(x) 0 0.130 1 0.346 2 0.346 3 0.154 4 0.026 1.604 For the following distributi...

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  • June 5, 2024
  • 4
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • business stats exam questions with 100 correct a

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  • Business Statistics
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Business Stats: Exam Questions With 100%
Correct Answers
The mean of a probability distribution is called its expected value.
T


For the following distribution.
What is the mean of the distribution?
X P(x)
0 0.130
1 0.346
2 0.346
3 0.154
4 0.026
1.604


For the following distribution.
What is the variance of the distribution?
X P(x)
0 0.130
1 0.346
2 0.346
3 0.154
4 0.026
0.9643


Data show that the weight of an offensive linesman may be any weight between 200 and 350 pounds.
The distribution of weight is based on a ______________.
continuous random variable


The probability of a particular outcome must always be between 0.0 and 1.0 inclusive.
T


Which one of the following is not a condition of the binomial distribution?
Sampling at least 10 trials


David's gasoline station offers 4 cents off per gallon if the customer pays in cash and does not use a
credit card. Past evidence indicates that 40% of all customers pay in cash. During a one-hour period,
15 customers buy gasoline at this station. What is the probability that at least 10 pay in cash?
0.033


The speed with which utility companies can resolve problems is very important. GTC, the Georgetown
Telephone Company, reports it can resolve customer problems the same day they are reported in
80% of the cases. Suppose the 14 cases reported today are representative of all complaints.
a-1. How many of the problems would you expect to be resolved today? (Round your answer to 2
decimal places.)
11.20

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