BANA2081 EXAM 1 WITH COMPLETE SOLUTIONS GRADED A+
A sample point refers to the
set of all possible experimental outcomes sample space
individual outcome of an experiment
numerical measure of the likelihood of the occurrence of an event - Answer-individual outcome of an experiment
A graphical...
BANA2081 EXAM 1 WITH
COMPLETE SOLUTIONS
GRADED A+
A sample point refers to the
set of all possible experimental outcomes
sample space
individual outcome of an experiment
numerical measure of the likelihood of the occurrence of an event - Answer-individual
outcome of an experiment
A graphical device used for enumerating sample points in a multiple-step experiment is
a
bar chart
histogram
tree diagram
pie chart - Answer-tree diagram
An experiment consists of three steps. There are four possible results on the first step,
three possible results on the second step, and two possible results on the third step.
The total number of experimental outcomes is
9
36
24
14 - Answer-24
An experiment consists of four outcomes with P(E 1) = 0.2, P(E 2) = 0.3, and P(E 3) =
0.4. The probability of outcome E 4 is
0.024
0.500
0.100
0.900 - Answer-0.100
Jeffrey Rich was
Chairman of Vitesse Semiconductor Corp.
a staff writer for WSJ
Head of the SEC
CEO of Affiliated Computer Services - Answer-CEO of Affiliated Computer Services
The probability of winning a prize at the in-store McDonald's Monopoly game was
.0001
.1 .
0000001
.25 - Answer-.25
,A lottery is conducted using three urns. Each urn contains chips numbered from 0 to 9.
One chip is selected at random from each urn. The total number of sample points in the
sample space is
1,000
729
100
30 - Answer-1000
A very short quiz has one multiple choice question with four possible choices (a, b, c, d)
and two true or false questions. Assume you are taking the quiz but do not have any
idea what the correct answers are to any of the questions, but you mark answers
anyway. What is the probability you have given the correct answer to all three
questions? Enter your answer as a decimal rounded to two decimal places. - Answer-
.06
Ten individuals are candidates for positions of president and vice president of an
organization. How many different selections can be made for president and vice
president? - Answer-90
Ten individuals are candidates for a committee. Two will be selected. How many
different pairs of individuals can be selected? - Answer-45
When the assumption of equally likely outcomes is used to assign probability values,
the method used to assign probabilities is referred to as the
relative frequency method
probability method
subjective method
classical method - Answer-classical method
When the results of experimentation or historical data are used to assign probability
values, the method used to assign probabilities is referred to as the
posterior method
classical method
subjective method
relative frequency method - Answer-relative frequency method
A method of assigning probabilities based upon judgment is referred to as the
probability method
relative frequency method
classical method
subjective method - Answer-subjective method
Arthur Benjamin says that the current top of the pyramid of mathematics curriculum is
statistics
algebra
calculus
analytics - Answer-Calculus
Arthur Benjamin says that the top of the pyramid of mathematics curriculum should be
algebra
The New York Times article provides information about Carrie Grimes who received a
doctorate in statistics from Stanford. After graduation Ms. Grimes joined
apple
microsoft
google
george washington university - Answer-google
The company identified in Chapter 1, Statistics in Practice, is
Small fry design
Oceanwide Seafood
Colgate-Palmolive
Bloomberg Businessweek - Answer-bloomberg businessweek
The Statistics in Practice example in Chapter 1 concerned
customer demographics & behaviors
serving size
product pricing
product density - Answer-customer demographics & behaviors
Chapter 1 focuses on
hypothesis testing
data and statistics
random statistics
regression analysis - Answer-data and statistics
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