Unformatted text preview: ose on the list have neither card. Suppose a person on the list is
known to have a MasterCard. What is the probability that person also has an American
Express Card?
A. .20
B. .33
C. .18
D. .70
E. .90 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Probability & Conditional 142. Consider a standard deck of 52 playing cards, a randomly selected card from the deck,
and the following events: R = red, B = black, A = ace, N = nine, D = diamond and C = club.
For each of the following pair of events, indicate whether the events are mutually exclusive
R and A
A. Yes, mutually exclusive
B. No, not mutually exclusive AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Easy
Topic: Probability & Mutually Exclusive Events 1346 Chapter 01  An Introduction to Business Statistics 143. Consider a standard deck of 52 playing cards, a randomly selected card from the deck,
and the following events: R = red, B = black, A = ace, N = nine, D = diamond and C = club.
For each of the following pair of events, indicated whether the events are mutually exclusive
R and C
A. Yes, mutually exclusive
B. No, not mutually exclusive AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Easy
Topic: Probability & Mutually Exclusive Events 144. Consider a standard deck of 52 playing cards, a randomly selected card from the deck,
and the following events: R = red, B = black, A = ace, N = nine, D = diamond and C = club.
For each of the following pair of events, indicated whether the events are mutually exclusive
A and N
A. Yes, Mutually exclusive
B. No, not mutually exclusive AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Easy
Topic: Probability & Mutually Exclusive Events 145. Consider a standard deck of 52 playing cards, a randomly selected card from the deck,
and the following events: R = red, B = black, A = ace, N = nine, D = diamond and C = club.
For each of the following pair of events, indicated whether the events are mutually exclusive
N and C
A. Yes, Mutually exclusive
B. No, not mutually exclusive AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Easy
Topic: Probability & Mutually Exclusive Events 1347 Chapter 01  An Introduction to Business Statistics 146. Consider a standard deck of 52 playing cards, a randomly selected card from the deck,
and the following events: R = red, B = black, A = ace, N = nine, D = diamond and C = club.
For each of the following pair of events, indicated whether the events are mutually exclusive
D and C
A. Yes, Mutually exclusive
B. No, not mutually exclusive AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Easy
Topic: Probability & Mutually Exclusive Events 147. Suppose that A1 , A2 and B are events where A1 and A2 are mutually exclusive events and
P(A1) = .7 P(A2) = .3 P(B│A1) = .2 P(B│A2) = .4
Find P(B)
A. 0.60
B. 0.26
C. 0.21
D. 0.14
E. 0.28
P(B) = P(A1) * P(B│A1) + P(A2) * P(B│A2) = (.7) (.2) + (.3) (.4) = .26 AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Hard
Topic: Probability & Bayes Theorem 1348 Chapter 01  An Introduction to Business Statistics 148. Suppose that A1, A2 and B are events where A1 and A2 are mutually exclusive events and
P(A1) = .7 P(A2) = .3 P(B│A1) = .2 P(B│A2) = .4
Find P(A1│B)
A. 0.12
B. 0.26
C. 0.21
D. 0.14
E. 0.28
P(A1│B) = P(A1 ∩ B) / P(B) = .14/.26 = .54 AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Hard
Topic: Probability & Bayes Theorem 149. Suppose that A1, A2 and B are events where A1 and A2 are mutually exclusive events and
P(A1) = .7 P(A2) = .3 P(B│A1) = .2 P(B│A2) = .4
Find P(A2│B)
A. 0.12
B. 0.26
C. 0.21
D. 0.14
E. 0.46
P(A2│B) = P(A2 ∩ B) / P(B) = .12/26 = .46 AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Hard
Topic: Probability & Bayes Theorem Chapter 05
Discrete Random Variables
True / False Questions 1. The binomial experiment consists of n independent, identical trials, each of which results in
either success or failure and is such that the probability of success on any trial is the same.
True False 1349 Chapter 01  An Introduction to Business Statistics 2. A Poisson random variable is a continuous variable that can be used to describe the number
of occurrences of an event over a specified interval of time or space.
True False 3. A discrete random variable may assume a countable number of outcome values.
True False 4. The variable "home ownership" can take on one of two values, 1 if the person living in a
home owns the home and zero if the person living in a home does not own the home is an
example of a discrete random variable.
True False 5. If the number of surface nonconformities on a specific size of a metal piece is the discrete
random variable in question, then the appropriate probability distribution that can describe the
probability of a specific size metal sheet containing 3 nonconformities is most likely given by
the binomial distribution.
True False 6. The mean of the binomial distribution is np(1p).
True False 1350 Chapter 01  An Introduction to Business Statistics 7. In a binomial...
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 Winter '14
 Frequency, Frequency distribution, Histogram, AACSB, Statistical charts and diagrams

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