Unformatted text preview: Chapter 01  An Introduction to Business Statistics 24. The _____ of an event is a number that measures the likelihood that an event will occur
when an experiment is carried out.
A. Outcome
B. Probability
C. Intersection
D. Observation AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability 25. When the probability of one event is influenced by whether or not another event occurs,
the events are said to be _____.
A. Independent
B. Dependent
C. Mutually exclusive
D. Experimental AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Probability 26. A process of observation that has an uncertain outcome is referred to as a(n) _____.
A. Probability
B. Frequency
C. Conditional probability
D. Experiment AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Probability 1285 Chapter 01  An Introduction to Business Statistics 27. When the probability of one event is not influenced by whether or not another event
occurs, the events are said to be _____.
A. Independent
B. Dependent
C. Mutually exclusive
D. Experimental AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Probability & Independence 28. A probability may be interpreted as a long run _____ frequency.
A. Observational
B. Relative
C. Experimental
D. Conditional AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Probability 29. If events A and B are independent, then P(AB) is equal to _____.
A. P(B)
B. P(A ∩ B)
C. P(A)
D. P(A U B) AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Probability & Independence 1286 Chapter 01  An Introduction to Business Statistics 30. The simultaneous occurrence of event A and B is represented by the notation: _______.
A. A U B
B. A│B
C. A B
D. B│A AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability  Intersection 31. A(n) _______________ probability is a probability assessment that is based on
experience, intuitive judgment, or expertise.
A. Experimental
B. Relative frequency
C. Objective
D. Subjective AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Probability 32. A(n) ______________ is a collection of sample space outcomes.
A. Experiment
B. Event
C. Set
D. Probability AACSB: Analytical Studies
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability 1287 Chapter 01  An Introduction to Business Statistics 33. Probabilities must be assigned to experimental outcomes so that the probabilities of all the
experimental outcomes must add up to ___.
A. 1
B. between 0 and 1
C. between 1 and 1
D. 0 AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability 34. Probabilities must be assigned to experimental outcomes so that the probability assigned
to each experimental outcome must be between ____ and ____ inclusive.
A. 0 and 100
B. 100 and 100
C. 0 and 1
D. 1 and 1 AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability 35. The __________ of event X consists of all sample space outcomes that do not correspond
to the occurrence of event X.
A. Independence
B. Complement
C. Conditional probability
D. Dependence AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability & Complement 1288 Chapter 01  An Introduction to Business Statistics 36. The _______ of two events A and B is another event that consists of the sample space
outcomes belonging to either event A or event B or both event A and B.
A. Union
B. Intersection
C. Complement
D. Mutually exclusivity AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability & Union 37. The _______ of two events A and B is the event that consists of the sample space
outcomes belonging to both event A and event B.
A. Union
B. Intersection
C. Complement
D. Mutually exclusivity AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Probability & Intersection 38. What is the probability of rolling a seven with a pair of fair dice?
A. 6/36
B. 3/36
C. 1/36
D. 8/36
E. 7/36 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Probability 1289 Chapter 01  An Introduction to Business Statistics 39. What is the probability of rolling a value higher than eight with a pair of fair dice?
A. 6/36
B. 18/36
C. 10/36
D. 8/36
E. 12/36 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Probability 40. What is the probability that an even number appears on the toss of a die?
A. 0.5
B. 0.33
C. 0.25
D. 0.67
E. 1.00 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Easy
Topic: Probability 41. What is the probability that a king appears in drawing a single card form a deck of 52
cards?
A. 4/13
B. 1/13
C. 1/52
D. 1/12
E. 2/13 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Probability 1290 Chapter 01  An Introduction to Business Statistics 42. If we consider the toss of four coins as an experiment, how many outcomes does the
sample space consist of?
A. 8
B. 4
C. 16
D. 32
E. 2 AACSB: Analytical Studies
Bloom's: A...
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This document was uploaded on 01/20/2014.
 Winter '14

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