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Unformatted text preview: MGT 2250 — Quiz #3
2 Sides
Answers:
Fill in the blank: 1) PROBABILITY is the “numerical measure ofthe mlikelihood '
that an event will occur. 2) The set of all experimental outcomes is called the #sample _____space ' 3) A collection of experimental outcome (sample space outcomes) is called a(n)
____event Multiple choice: 4) Each time you toss a coin, you can get either “heads” or “tails”. In probability terminology, “heads” and “tails” are
xperimental outcomes. a . experimental trials. c. experimental events (:1. experimental distributions. 5) T o assign probabilities to an experiment, Which of the following statements must be true? » V
_ 1) The probability for each experimental outcome must be between ¢¢(_) 1» and “(+)»l”'
2) The sum of the probabilities for all experimental outcomes must
sum to “l”. 
3) The probability for each experimental outcome mustbe between
“0” and “139. 
4) The sum of the probabilities for all experimental outcomes must
sum to “0”.
a. 1 & 2 only
b.l & 4 only
& 3 only
(1.3 & 4 only m
31.51.. on to themwa can t A .1: .
The town council them must decide Whether to 11
ﬁnal approval. From past experience, the probability of getting a positive
recommendation from the planning commission has been 0.2. If an application is
presented to the town councilwith a positive recommendation, the prdbability of the
council presenting the proposal to the voters has been 0.9. If presented with a
negative recommendation the probability of the town council presenting the plan to v
the voters has been 0.1. Finally, experience has indicated that the voters have
traditionally voted “yes” 60% of the time on such proposals when presented to them
by the town council. ' a) Construct a tree diagram for this “experiment”, listing all experimental outcomes and the probabilities of each outcome.
Ogrroor’m P/outccme) Jr ‘/\/Y .10? W to” b) What is the probability that the application will be approved? ngam):,/0K+(o)+ .OWtKO)2 ,/3/Z
D Wﬂf c) How can you know that your probabilities in this case are valid? Pit/p.7ﬂﬂ/DE/«1/g/0W‘IM ﬁETwé/S»)
50w 0F Pit/L. QMEoK/L/ﬂéj ‘3 /' MGT ~4'Qui'iz #4 AnsWers: 1)‘ An alumni associatinn offered its members group rates on auto and/or.
homeowner’s insurance. Records showed that 37% of its members had
purchased auto insurance, 61% of its members had purchased homeowner’s
insurance, and 28% of its members had purchased both auto and ' “°‘i‘°2¥§7337i§f35‘“law : p m Us) ﬂaﬂﬁ/ﬂcm“) a) What is the probability that a member had purchased either auto 9;
5 ' . r) r .
homeowner s IBSIIEH/C‘CH ,4 L A (fr—O H ._ 1,11 DHEDWI‘UW b) What is the. probability that a member had n___0t purchased either auto
or homeowner’s insurance? /~70(AUH) MC? ...
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This note was uploaded on 02/05/2012 for the course MGT 2250 taught by Professor Milne during the Summer '08 term at Georgia Institute of Technology.
 Summer '08
 Milne

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