This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: MGT 2250 —- Quiz #3
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 council-with 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'Q-ui'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? ...
View Full Document
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