SME_8e_Ch_06_Section_1 - CHAPTER 6 SECTION 1: PROBABILITY...

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1 CHAPTER 6 SECTION 1: PROBABILITY MULTIPLE CHOICE 1. An approach of assigning probabilities which assumes that all outcomes of the experiment are equally likely is referred to as the: a. subjective approach b. objective approach c. classical approach d. relative frequency approach ANS: C PTS: 1 REF: SECTION 6.1 2. If A and B are mutually exclusive events with P ( A ) = 0.70, then P ( B ): a. can be any value between 0 and 1. b. can be any value between 0 and 0.70. c. cannot be larger than 0.30. d. equals 0.30. ANS: C PTS: 1 REF: SECTION 6.1 3. If you roll a balanced die 50 times, you should expect an even number to appear: a. on every other roll. b. exactly 50 times out of 100 rolls. c. 25 times on average, over the long term. d. All of these choices are true. ANS: D PTS: 1 REF: SECTION 6.1 4. The collection of all possible outcomes of an experiment is called: a. a simple event b. a sample space c. a sample d. a population ANS: B PTS: 1 REF: SECTION 6.1 5. Which of the following is an approach to assigning probabilities? a. Classical approach b. Relative frequency approach c. Subjective approach d. All of these choices are true. ANS: B PTS: 1 REF: SECTION 6.1
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2 6. A sample space of an experiment consists of the following outcomes: 1, 2, 3, 4, and 5. Which of the following is a simple event? a. At least 3 b. At most 2 c. 3 d. 15 ANS: C PTS: 1 REF: SECTION 6.1 7. Which of the following is a requirement of the probabilities assigned to outcome O i ? a. P ( O i ) 0 for each i b. P ( O i ) 1 for each i c. 0 P ( O i ) 1 for each i d. P ( O i ) = 1 for each i ANS: C PTS: 1 REF: SECTION 6.1 8. If an experiment consists of five outcomes with P ( O 1 ) = 0.10, P ( O 2 ) = 0.20, P ( O 3 ) = 0.30, P ( O 4 ) = 0.15, then P ( O 5 ) is a. 0.75 b. 0.25 c. 0.50 d. Cannot be determined from the information given. ANS: B PTS: 1 REF: SECTION 6.1 9. Of the last 500 customers entering a supermarket, 50 have purchased a wireless phone. If the relative frequency approach for assigning probabilities is used, the probability that the next customer will purchase a wireless phone is a. 0.10 b. 0.90 c. 0.50 d. None of these choices. ANS: A PTS: 1 REF: SECTION 6.1 10. If two events are collectively exhaustive, what is the probability that one or the other occurs? a. 0.00 b. 0.50 c. 1.00 d. Cannot be determined from the information given. ANS: D PTS: 1 REF: SECTION 6.1 11. If two events are collectively exhaustive, what is the probability that both occur at the same time? a. 0.00 b. 0.50 c. 1.00 d. Cannot be determined from the information given. ANS: D PTS: 1 REF: SECTION 6.1
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3 12. If two events are mutually exclusive, what is the probability that one or the other occurs? a.
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This note was uploaded on 09/28/2010 for the course FINOPMGT 250 taught by Professor Kumar during the Spring '10 term at University of Massachusetts Boston.

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SME_8e_Ch_06_Section_1 - CHAPTER 6 SECTION 1: PROBABILITY...

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