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Business Research Methods
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Solution Manual for Business Research Methods, 14th Editionby Pamela Schindler, Verified Chapters 1 - 17, Complete
Newest Version
_________ Is Unpredictable in the short run but has a regular and predictable
pattern in the long run
A. Chance Behavior
B. Personal Probability
C. Probability
D. Law of Averages - ANSWER: A. Chance Behavior
We call a phenomenon ____ if individuals outcomes are uncertain but there is
nonetheless regular distribution of outcomes in a large number of repetitions
A. Chance Behavior
B. Personal Probability
C. Random
D. Law of Averages - ANSWER: C. Random
___ is a number between 0 & 1 that describes the proportion of times the outcome
would occur in a very long series of repetitions
A. Chance Behavior
B. Personal Probability
C. Probability
D. Law of Averages - ANSWER: C. Probability
in a large number of independent repetitions of a random phenomenon (like coin
tossing) averages or proportions are likely to become more stable as the # of trails
increase.
A. Chance Behavior
B. Personal Probability
C. Probability
D. Law of Averages - ANSWER: D. Law of Averages
____ of an outcome is a number between 0 and ! that express an individual's
judgement of how likely the outcome is.
A. Chance Behavior
B. Personal Probability
C. Probability
D. Law of Averages - ANSWER: B. Personal Probability
, A random outcome
A. Has a predictable pattern in the short term
B. Has a 50/50 chance of occurrence
C. Is haphazard
D. Has a predictable pattern in the long term - ANSWER: D. Has a predictable pattern
in the long term
The probability of a random outcome is
A. Unpredictable
B. 1/2
C. Some number between 0 and 1 - ANSWER: C. Some number between 0 and 1
A probability of 1 can be interpreted to mean
A. The event has a 0.01% chance of happening
B. The event has a 1% chance of happening
C. The event has a 100% chance of happening - ANSWER: C. The event has a 100%
chance of happening
The approximate proportion of times a random outcome happens in a long series of
repetitions is
A.Its probability
B. Its odds
C. Unpredictable - ANSWER: A.Its probability
A correct interpretation of the law of averages is
A. If I roll a die 600 times, I can predict 100 2's.
B. If I roll a die many times, I can predict about 1/6 of the rolls to result in a 2.
C. On average, half my dice rolls should result in a 2 - ANSWER: B. If I roll a die many
times, I can predict about 1/6 of the rolls to result in a 2.
A female college student decides which party to attend based on the chances of a
particular handsome male being present. She computed
A. A personal probability
B. The chances she would see the handsome male if she could repeat this night many
times
C. The probability of seeing the handsome male - ANSWER: A. A personal probability
True or False: A personal probability is a number between 0 and 1. - ANSWER: True
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