Basic Probability 4-1
CHAPTER 4: BASIC PROBABILITY
1. If two events are collectively exhaustive, what is the probability that one or the other occurs?
a) 0.
b) 0.50.
c) 1.00.
d) Cannot be determined from the information given.
ANSWER:
c
TYPE: MC DIFFICULT

The Normal Distribution and Other Continuous Distributions 6-1
CHAPTER 6: THE NORMAL DISTRIBUTION AND OTHER
CONTINUOUS DISTRIBUTIONS
1. In its standardized form, the normal distribution
a) has a mean of 0 and a standard deviation of 1.
b) has a mean of 1

Organizing and Visualizing Variables
2-1
CHAPTER 2: ORGANIZING AND VISUALIZING
VARIABLES
SCENARIO 2-1
An insurance company evaluates many numerical variables about a person before deciding on an
appropriate rate for automobile insurance. A representative

Defining and Collecting Data
1-1
CHAPTER 1: DEFINING AND COLLECTING DATA
1. Which of the following is a discrete quantitative (numerical) variable?
a) The Dow Jones Industrial average
b) The volume of water released from a dam
c) The distance you drove ye

Learning Objectives
After this lesson you will be able to
explain:
How businesses use statistics
The basic vocabulary of statistics
The types of data used in business
How to use Microsoft Excel and / or
Minitab with this book
Learning Objectives
In this c

Learning Objectives
In this chapter, you learn:
To describe the properties of central tendency,
variation, and shape in numerical dataT
To construct and interpret a boxplot
To compute descriptive summary measures for a
population
To calculate the covarian

IN SOLVING DISCRETE PROBABILITY PROBLEMS INVOLVING ONLY TWO VARIABLES, IT IS C
22
college
no college
married
340
160
no married
60
40
400
200
college
no college
married
0.57
0.27
no married
0.10
0.07
0.67
0.33
500
100
600
single or degree
0.73
23
married