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Unformatted text preview: I. Suppose that on a very long statistics test, the probability is that Sunita would get 70% of
the items right. For a 10~item quiz, what is the probability that Sunita will get at least 7
items right? (A) 01503 b'twii 10} 7? it i 9008 9 0.6496 3  c (C) 01493 .035 2 (D) 0.8754 Cl . m)
[D 2. Using the data in #1, suppose that Sunita fails the quizif she gets fewer than 6 items
ri I. What is the probability that Sunita will fail the quiz?
@0150?)
( ) 0.6496
(C) 0.1493
(D)0.8754 3. Using the data in #1, suppose that Sunita makes an A on the quiz if she gets 9 or 10
items right, What is the probability that Sunita will get an A on the quiz?
(A) 0.1503
(B) 0.6496
Q 0.1493
(D) 0.8754 4. [fP(A) = 0.3 and P(B) = 0.4, and P(A and B) = 0.2, are A and B statistically
independent?
(A) Yes
9 No 5. lfthe P (A) = 0.50, P (B) = 0.40 and P (A and B) = 0, what is the P (A given B)?
g 0.00
) 0.40 (C) 0.50
(D) 0.20  Page 2 10. 11. Given: P (B given A) = 0.65 and P (A and B) = 0.30, what is P (A)?
(A) 0.00
Q 0.46
(C) 0.55
(D) 0.75 It is estimated that an investment will produce a net return of $1000, $4000 or $5000
with corresponding probabilities of 0.50, 0.30 and 0.20. What is the expected mean
return? (A) $2100 Q) $2700 (C) $3700 (D) $5000 Using the data in Question #7 above, what is the standard deviation ofthe net
returns of the investment?
(A) $1620
(B) $9000
$1 735
) $781 Approximately 90% (real data) of people, who purchase items on the web, have
trouble completing their transactions. If we select 15 people at random who purchase
via the web, what is the probability that 13 or less will have trouble completing their
transaction? Assume Binomial. (A) 0.026 (B) 0057 (C) 0.867 g 0.451 Using the data in Question #9 above, what is the mean ofthis binomial situation? (a) 13.5
(a) 9.6 (C) 3.0
(D) (14.0 Ifthe Standard Deviation ofa Poisson random variable is equal to 6; then the mean
is? (A) 2.45 ® 36.00 (C) 25.00 (D) 3.00 Page 3 13. 14. 15. 16. For Questions # 12 through it 16 consider the following information. Businesses that offer credit to their customers are inevitably faced with the task of
collecting unpaid bills. A study ofcollection remedies used by creditors was published
in the Journal ofFinancial Research (Spring 1986). As part ofthe study, creditors in
four states were asked about how they deal with past—due bills. Their responses are
tailed in the following table. Wisconsin Illinois Arkansas Louisiana
Take tough action early 0 1 5 1 7
Take tough action later 37 23 22 21 toe
Never take towh action 9 11 5 15 41
CHI ; j 9' n] :7 1 i What is the probability that the creditor is from Wisconsin or Louisiana? (A) 0.182 (B) 0.857 ® 0.550 (D) 0.450 What is the probability that the creditor is from Wisconsin or Louisiana?
(A)O_182
(B) 0.857 «3) 0.550 (D)0.450 What is the probability that the creditor never takes tough action?
(A) O. 1 82 (B) 0.857 (C) 0.450 (a) 0.272 If the creditor takes tough action early. what is the probability that the creditor is from
Arkansas or Louisiana? (3Q) 0.857
(B) 0.550 (C) 0.450
(D) 0272 What is the probability that a creditor from Arkansas never takes tough action?
0A) 0.182
(B) 0.857
(C) 0.450
(D) 0.272 Page 17'. 18. 19. 20‘ For Questions # [7 through # 20 consider the following information. Based on past experience, it is assumed that the number of ﬂaws per foot in rolls of “Grade A” paper follows a Poisson distribution with an average ofone ﬂaw per 5 feet of paper (i.e., 0.2 ﬂaw per foot). [Hi What is the probability that in a 5foot (A) 09992
(B) 0.2381 
(C) 0.9878 m 0.1839 What is the ® 0.9825 (B) 01342
(C) 0.2381
(D) 0.0008 probability that in a 1fo "I: Pay attention to the units ofmeasurement.] roll there will be exactly 2 flaws? ot roll there will be fewer than 2 ﬂan/s? What is the probability that in a 1foot roll there will be at least 2 flaws? (A) 0.9992
(B) 0.03 78 What is the probability that in a 10foot roll there will be exactly 5 ﬂaws? (A) 0.9992
(B) 0.0164
a 0.036]
(D) 0.0008 page? 2]. 22. 23. 25. For Questions # 21 through # 25 consider the following information. A sample of 500 respondents was selected in a large metropolitan area to determine
various information Concerning consumer behavior. Among the questions asked was
“Do you enjoy shopping for clothing?" Of 240 males, 136 answered yes. Of 260
females, 224 answered yes. What is the probability that a respondent chosen at random is a male?
@ 0.480 V" g' (B) 0.552 t ‘ ‘ jf : . z, ,3
(C) 0.720  ' '7 ‘ L"
(D) 0.448 (E) 0792 h 10‘! M"? / .a 97}, yrs.» Zoo
What is the probability that a respondent chosen at random is a male or a female?
(A) 0.480 (8)0552 g 1.000
(D) 0.443 (E) 0792 What is the probability that a respondent chosen at random is a male and does not
enjoy shopping for clothing? (A) 0.480 (B) 0.552 (C) 0.448 ® 0208
(E) 0.792 What is the probability that a respondent chosen at random is a male or does not enjoy
shopping for clothing? (A)0.480 @ 0.552 (C) 0.208 (D)0.448 (E) 0792 What is the probability that a respondent chosen at random is a female or enjoys
shopping for clothing? (A)0.480 (3)0552 ((3)0208 (D)O.448 @ 0.792 Page 6 ...
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 Spring '08
 Hossain
 Poisson Distribution, Probability, Standard Deviation, Probability theory

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