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B. The experiment consists of n identical trials.
C. The probability of success remains constant from trial to trial.
D. Trials are independent of each other.
E. Each trial results in one of two mutually exclusive outcomes. AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Binomial 19. The binomial distribution is characterized by situations that are analogous to
A. Drawing balls from and urn.
B. Coin tossing.
C. Counting defects on an item.
D. Measuring the length of an item. AACSB: Reflective Thinking
Bloom's: Evaluation
Difficulty: Medium
Topic: Binomial 20. A random variable is said to be discrete if
A. Its outcomes are countable
B. It can assume any real number within a given interval
C. The rules of probability apply
D. It can be represented graphically AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Discrete Random Variable 1387 Chapter 01  An Introduction to Business Statistics 21. Two characteristics/assumptions of the Poisson distribution include:
A. Probability of success remains constant from trial to trial and the random variable of
interest is continuous.
B. The event occurring in one interval is independent of the event occurring in any other nonoverlapping interval, and the random variable of interest is continuous.
C. The event occurring in one interval is independent of the event occurring in any other nonoverlapping interval, and the random variable of interest is discrete.
D. The event occurring in one interval is dependent of the event occurring in any other nonoverlapping interval, and the random variable of interest is continuous. AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Medium
Topic: Poisson 22. The Securities and Exchange Commission has determined that the number of companies
listed in NYSE declaring bankruptcy is approximately a Poisson distribution with a mean of
2.6 per month.
Find the probability that exactly 4 bankruptcies occur next month.
A. .8774
B. .1414
C. .1557
D. .2176 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Poisson 1388 Chapter 01  An Introduction to Business Statistics 23. The Securities and Exchange Commission has determined that the number of companies
listed in NYSE declaring bankruptcy is approximately a Poisson distribution with a mean of
2.6 per month.
Find the probability that more than 1 bankruptcy occur next month.
A. .1931
B. .9257
C. .7326
D. .4816
E. .2674 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Poisson 24. The Securities and Exchange Commission has determined that the number of companies
listed in NYSE declaring bankruptcy is approximately a Poisson distribution with a mean of
2.6 per month.
Find the probability that no more than one bankruptcy occurs next month.
A. .1931
B. .9257
C. .7326
D. .4816
E. .2674 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Poisson 1389 Chapter 01  An Introduction to Business Statistics 25. A fair die is rolled 10 times. What is the probability that an odd number (1, 3, or 5) will
occur less than 3 times?
A. .0547
B. .1172
C. .1550
D. .7752
E. .8450 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Hard
Topic: Discrete Probability Distribution 26. A fair die is rolled 10 times. What is the probability that an even number (2, 4, or 6) will
occur between 2 and 4 times?
A. .6123
B. .1709
C. .1611
D. .3662
E. .3223 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Hard
Topic: Discrete Probability Distribution 27. A fair die is rolled 10 times. What is the average number of even number outcomes?
A. 3
B. 4
C. 5
D. 6
E. 7 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Easy
Topic: Discrete Probability Distribution 1390 Chapter 01  An Introduction to Business Statistics 28. A fair die is rolled 36 times. What is the standard deviation of the even number (2, 4, or 6)
outcomes?
A. 18
B. 9
C. 5
D. 3
E. 1.732 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Medium
Topic: Discrete Probability Distribution 29. Whenever p = .5, the binomial distribution will _________ be symmetric.
A. Always
B. Sometimes
C. Never AACSB: Analytical Studies
Bloom's: Comprehension
Difficulty: Medium
Topic: Binomial 30. Which of the following statements about the binomial distribution is not correct?
A. Each trial results in a success or failure.
B. Trials are independent of each other.
C. The probability of success remains constant from trial to trial.
D. The random variable of interest is continuous.
E. The experiment consists of n identical trials. AACSB: Reflective Thinking
Bloom's: Knowledge
Difficulty: Easy
Topic: Binomial 1391 Chapter 01  An Introduction to Business Statistics 31. If n = 20 and p = .4, then the mean of the binomial distribution is
A. .4
B. 4.8
C. 8
D. 12 AACSB: Analytical Studies
Bloom's: Application
Difficulty: Easy
Topic: Binomial 32. If n = 15 and p = .4, then the standard deviation of the binomial distribution is
A. 9
B. 6
C. 3.6
D....
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 Winter '14

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