Example_MC_Problems - STT 315 Example MC Problems These are...

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Unformatted text preview: STT 315 Example MC Problems These are just examples. The list is long yet it does not cover all the ideas that we cover in this course. UNIT 1 CHAPTER 2 1 - 3 . Suppose it is known that 40% of the people who inquire about investment opportunities at a brokerage house end up purchasing stock, and 50% end up purchasing bonds. It is also known that 28% of the inquirers end up getting a portfolio with both stocks and bonds. A person is selected at random from those who make inquiries. 1. What is the probability that she or he will get stocks or bonds or both (i.e., open any portfolio)? (a) .20 (b) .90 (c) .62 (d) .80 (e) none of these 2. Are the events "purchase stock" and "purchase bonds" independent events? (a) Yes (b) No 3. What is the probability that the selected person will get bonds given that he/she gets stocks? (a) .20 (b) .90 (c) .68 (d) .70 (e) none of these 4-9 skip.... 10 - 13 . Following are age and sex data for 14 midlevel managers at a service company: 27M, 30M, 34F, 38M, 39F, 39F, 41M, 41M, 42F, 49M, 50F, 55M, 58M, 58F. A manager will be chosen at random to serve on a company-wide committee that deals with personnel problems. 10. What is the probability that the chosen manager is a male (M)? (a) 4/14 (b) 6/14 (c) 10/14 (d) 8/14 (e) none of these 11. If the chosen manager is Male, what is the probability that the chosen manager is over 40 years of age? (a) 5/14 (b) 5/8 (c) 6/14 (d) 7/8 (e) 12. What is the probability that the chosen manager is a male (M) and under 40 years of age? (a) 5/14 (b) 2/14 (c) 7/8 (d) 2/6 (e) none of these 13. What is the probability that the chosen manager is female (F) or over 40 years of age or both? (a) 3/14 (b) 7/14 (c) 11/14 (d) 12/14 (e) none of these 14 - 16 . At the Paris airshow, suppose that the following 65 aircraft sales resulted. Suppose that a sale is chosen at random from the 65 sales. Manufacturer Purchaser Boeing Airbus Finnair 12 TAM (Brazil) 8 5 Northwest Airlines 12 8 British Airways 10 10 14. What is the probability that it is either by Boeing or to TAM? (a) 43/65 (b) 30/65 (c) 8/65 (d) 35/65 (e) none of these 15. Given that a sale is by Boeing, find the probability that it is to TAM. (a) 8/13 (b) 8/30 (c) 8/65 (d) 35/65 (e) none of these 16. Given the sale is to TAM, find the probability that the sales is by Boeing. (a) 8/13 (b) 8/30 (c) 8/65 (d) 35/65 (e) none of these 17 - 19 . A device has three components C1, C2, C3 and the device works as long as at least one of the components is functional. The probabilities of the components being functional are 0.9, 0.8, and 0.7. Assume independence. 17. What is the probability of the event "C1 and C2 are functional and C3 is not functional"? (a) .006 (b) .216 (c) .904 (d) 1/8 (e) none of these 18. What is the probability that all three components are not functional?...
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This note was uploaded on 10/03/2011 for the course STT 315 taught by Professor Anderson during the Spring '08 term at Michigan State University.

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Example_MC_Problems - STT 315 Example MC Problems These are...

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