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The average number of cars arriving at a drive thru

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Unformatted text preview: ng is with replacement. 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 1-387 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 1-388 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 1-389 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 1-390 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 1-391 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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