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# At a certain university 30 of the students major in

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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 1-346 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 1-347 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 1-348 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 1-349 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(1-p). True False 1-350 Chapter 01 - An Introduction to Business Statistics 7. In a binomial...
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