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Question 1 0 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: Correct Answer: Question 2 2 out of 2 points Probability trees are used only to compute conditional probabilities. Answer Selected Answer: Correct Answer: Question 3 0 out of 2 points If two events are not mutually exclusive, then P(A or B) = P(A) + P(B) Answer Selected Answer: Correct Answer: Question 4 2 out of 2 points The Hurwicz criterion is a compromise between the minimax and minimin criteria. Answer Selected Answer: Correct Answer: Question 5 2 out of 2 points The minimax regret criterion maximizes the minimum regret. Answer Selected Answer: Correct Answer: Question 6 2 out of 2 points The Hurwicz criterion is a compromise between the maximax and maximin criteria. Answer Selected Answer: Correct Answer: Question 7 2 out of 2 points The maximin approach involves choosing the alternative with the highest or lowest payoff. Answer Selected Answer: Correct Answer: Question 8 2 out of 2 points A professor would like to utilize the normal distribution to assign grades such that 5% of students receive A's. If the exam average is 62 with a standard deviation of 13, what grade should be the cutoff for an A? (Round your answer.) Answer Selected Answer: 83 Correct Answer: 83 Question 9 0 out of 2 points Assume that it takes a college student an average of 5 minutes to ... View Full Document

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