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# PracticeQuestions2 - Practice Questions 2 ECO 329 1 The...

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Practice Questions 2 ECO 329 1. The finishing process on new furniture leaves slight blemishes. The table shown below displays a manager’s probability assessment of the number of blemishes in the finish of new furniture. Number of Blemishes 0 1 2 3 4 5 Probability 0.34 0.25 0.19 0.11 0.07 0.04 a. Let event A be that there are more than three blemishes and let event B be that there are four or fewer blemishes. Which of the following statements is true? A) P ( A B I ) = 0.18. B) P ( A B U ) = 0.07. C) Events A and B are collectively exhaustive. D) Events A and B are mutually exclusive. b. Let event A be that there are more than two blemishes and let event B be that there are four or fewer blemishes. Which of the following statements is true? A) P ( A B I ) = 0.18. B) P ( A B U ) = 0.07. C) P ( A ) = 0.58. D) P ( B ) = 0.89. 2. The probability that an employee at a company uses illegal drugs is 0.08. The probability than an employee is male is 0.55. Assuming that these events are independent, what is the probability that a randomly chosen employee is a male drug user? A) 0.742 B) 0.145 C) 0.044 D) 0.006 3. Fred’s Surfboard Shop makes surfboards by hand. The number of surfboards that Fred makes during a week depends on the wave conditions. Fred has estimated the following probabilities for surfboard production for the next week. Number of Surfboards 5 6 7 8 9 10 Probability 0.13 0.22 0.31 0.17 0.13 0.04 Let A be the event that Fred produces more than seven surfboards. Let B be the event that Fred produces exactly six surfboards. a. What is the probability of event A ?

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b. Are events A and B collectively exhaustive? Why? c. What is the probability of the complement of A ? d. What is the probability of the intersection of events A and B ? Why? 4. In a recent survey about US policy in Iraq, 62 % of the respondents said that they support US policy in Iraq. Females comprised 53% of the sample, and of the females, 46% supported US policy in Iraq. A person is selected at random. a. What is the probability that the person we select is female and support US policy in Iraq? b. Are the events “does not support US policy in Iraq” and “female” statistically independent? Why or why not? c. What is the probability that the person we select is male? d. What is the probability that the person we select does not support US policy in Iraq? e. What is the probability that the person we select is female and doe not support US policy in Iraq? f. What is the probability that the person we select is male and does support US policy in Iraq? g.
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## This note was uploaded on 04/13/2008 for the course ECON 329 taught by Professor Yilmaz during the Spring '08 term at University of Texas.

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PracticeQuestions2 - Practice Questions 2 ECO 329 1 The...

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