100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Business Statistics Test Bank for $22.99   Add to cart

Exam (elaborations)

Business Statistics Test Bank for

 4 views  0 purchase
  • Course
  • Business Statistics
  • Institution
  • Business Statistics

1) A car salesman has noted that the probability that the dealership sells a car on a Saturday morning is .30. Then the probability of the dealership not selling a car on Saturday morning is .70. Answer: TRUE Diff: 1 Keywords: probability, dependent, mutually exclusive Section: 4-1 The Basics of...

[Show more]

Preview 4 out of 510  pages

  • August 26, 2024
  • 510
  • 2024/2025
  • Exam (elaborations)
  • Unknown
  • Business Statistics
  • Business Statistics
avatar-seller
Clayjohnson
2024kiEDITIONki
BusinesskiStatistics,ki9eki(Groebner/Shannon/F
ry)kC
i hapterki4k i IntroductionkitokiProbability


1) AkicarkisalesmankihaskinotedkithatkithekiprobabilitykithatkithekidealershipkisellskiakicarkionkiakiSaturdaykimorningkii
.30.kiThenkithekiprobabilitykiofkithekidealershipkinotkisellingkiakicarkionkiSaturdaykim
orningkiiski.70.kAi nswer:k i TRUE
Diff:ki1
Keywords:k i probability,kidependent,kimutuallykiexclusiv
ekS
i ection:k i 4-1kiThekiBasicskiofkiProbability
Outcome:k i 1

2) AkicarkisalesmankistateskithatkithekiprobabilitykithatkithekidealershipkisellskiakicarkionkiakiSaturday
kimorningkiiski.30.kT i hekimethodkiofkiprobabilitykiassessmentkithatkihekihaskiusedkiiskimostkilikelykiclas
sicalkiassessment.
Answer:k i FALS
EkD
i iff:ki1
Keywords:k i probability,kiassessment,kirelativekifrequencykiofkioccu
rrencekSi ection:k i 4-1kiThekiBasicskiofkiProbability
Outcome:k i 1

3) Ifkithekiprobabilitykiofkionekieventkioccurringkiiski.40kiandkithekiprobabilitykiofkiakisecondkieventkiocc
urringkiiski0.60,kithenkithekiprobabilitykithatkibothkieventskiwillkioccurkimustkibeki1.0kisincekithatkiiskithe
kimaximumkivaluekiakiprobabilitykc i ankibe.
Answer:k i FALS
EkD
i iff:ki1
Keywords:k i probability,kieventkiSec
tion:ki4-
1kiThekiBasicskiofkiProbabilitykOi utco
me:ki1

4) Ifkiakicompanykihaskithekiopportunitykitokibidkionkithreekicontracts,kiA,kiB,kiandkiC,kithenkitheki
numberkiofkithesekci ontractskithatkiarekiawardedkitokithekicompanykiwouldkibekiconsideredkiankiel
ementarykievent.
Answer:k i TRU
EkD
i iff:ki2
Keywords:k i probability,kielementarykiev
entkS
i ection:ki4-
1kiThekiBasicskiofkiProbabilitykiOutcome:
ki1


5) Ifkitwokieventskiarekimutuallykiexclusive,kiitkiiskipossiblekiforkithemkitokialsokibekiindependentk
iofkieachkiother.kA
i nswer:k i FALSE
Diff:ki2
Keywords:kiexperiment,kioutcome,kiprobabili
tykS
i ection:ki4-
1kiThekiBasicskiofkiProbabilitykiOutcome:ki1

4-1
Copyrightki©ki2014kiPearsonkiEducation,
kiInc.

,6) Supposekiakisinglekidieki(aki6-
sidedkicubekiwithkisideskinumberedki1kithroughki6)kiiskirolledkionce.kiThekieventkiofkinterestkiiskide
finedkiaskirollingkiankievenkinumber.kiThiskicankibekisaidkitokibekiankielementarykievent.
Answer:k i FALS
EkD
i iff:ki1
Keywords:k i samplekispace,kielementarykie
ventkSi ection:ki4-
1kiThekiBasicskiofkiProbabilitykiOutcome:ki
1

7) Inkimostkisituations,kitherekiiskinokidifferencekibetweenkithekieventskiandkithekielemen
tarykievents.kA
i nswer:k i FALSE
Diff:ki1
Keywords:k i event,kielementarykievent,kiexperi
mentkSi ection:k i 4-1kiThekiBasicskiofkiProbability
Outcome:k i 1

8) Akimanufacturingkicompanykimakeskithreekitypeskiofkiproducts.kiEachkitimekiitkimakeskiakiproduct,ki
thekiitemkicankibekieitherkigoodkiorkidefectivekiandkiitkicankibekieitherkicustomizedkiorkistandard.kiTheki
eventskiconsistingkiofkicustomizedkiandkidefectivekiwouldkibekiconsideredkimutuallykiexclusivekisincekit
heykiapplykitokidifferentkiattributesko
i fkithekiproduct.
Answer:kiFALS
EkD
i iff:ki2
Keywords:kievent,kimutuallykiexclus
ivekS
i ection:ki4-
1kiThekiBasicskiofkiProbabilitykiOutc
ome:ki1

9) TwokifootballkiteamskiplaykiinkithekiSuperkiBowl.kiThekieventkiofkiteamkiAkiwinningkiandkitheki
eventkiofkiteamkiBkw
i inningkicankibekisaidkitokibekimutuallykiexclusive.
Answer:kiTRU
EkD
i iff:ki1
Keywords:kievent,kimutuallykiexclus
ivekS
i ection:ki4-
1kiThekiBasicskiofkiProbabilitykiOutc
ome:ki1

10) AkiproductkithatkiiskiproducedkiatkiRamseykiManufacturingkigoeskithroughkithreekistepskitokibekib
uilt.kiAtkistepkione,kithekicomponentskiarekiassembledkibykitechnicians.kiAtkistepkitwo,kithekiproductkii
skisanded,kiandkiatkistepkithreekti hekiproductkiiskipainted.kiThekiproductkicankibecomekidefectivekiifkian
ykiofkithesekithreekistepskiiskiperformedkiincorrectly.kiThekithreekistepskiarekidonekibykidifferentkipeop
lekiinkidifferentkilocations.kiWekiletkiD1ki=kidefectkiintroducedkiatkistepki1,kiD2ki=kidefectkiintroducedki
atkistepki2,kiandkiD3ki=kidefectkiintroducedkiatkistepkithree.kiBasedkionkti hiskisituationkithesekithreekieve
ntskiwouldkibekiconsideredkitokibekimutuallykiexclusive.
Answer:k i FALS
EkD
i iff:ki2
Keywords:k i mutuallykiexclusive,kiindependentkie
ventkSi ection:k i 4-1kiThekiBasicskiofkiProbability

4-2
Copyrightki©ki2014kiPearsonkiEducation,
kiInc.

,Outcome:k i 1




4-3
Copyrightki©ki2014kiPearsonkiEducation,
kiInc.

, 11) Supposekiakiplayerkiiskidealtki2kicardskifromkiakistandardkideckkiofki52kiplayingkicards.kiTo
kideterminekithekp
i robabilitykiofkihavingkiakiblackjackkiwouldkiinvolvekiclassicalkiprobability.
Answer:k i TRU
EkD
i iff:ki2
Keywords:kiclassicalkiprobabilitykiSe
ction:ki4-
1kiThekiBasicskiofkiProbabilitykO
i utco
me:ki1

12) InkiplayingkithekigamekiMonopoly,kithekiprobabilitykiofkiakiplayerkilandingkionkiParkkiPlacekiwoul
dkibekiassessedku i singkiclassicalkiprobabilitykiassessment.
Answer:k i TRU
EkD
i iff:ki2
Keywords:k i classical,kiprobability,kiassessm
entkS
i ection:ki4-
1kiThekiBasicskiofkiProbabilitykiOutcome:ki1

13) Ifkiakimanagerkiwerekiinterestedkiinkiassessingkithekiprobabilitykithatkiakinewkiproductkiwillkibek
isuccessfulkiinkiakN
i ewkiJerseykimarketkiarea,kishekiwouldkimostkilikelykiusekirelativekifrequencykiofki
occurrencekiaskithekimethodkiforkai ssessingkithekiprobability.
Answer:k i FALS
EkD
i iff:ki2
Keywords:kiprobability,kisubjectivek
iSection:ki4-
1kiThekiBasicskiofkiProbabilitykO
i utco
me:ki1

14) Classicalkiprobabilitykiassessmentkiiskilikelykitokibekithekimostkicommonkimethodkiofkiprobabilityk
iassessmentku i sedkiinkibusinesskidecisionkimaking.
Answer:k i FALS
EkD
i iff:ki1
Keywords:k i subjective,kiprobability,kiassessm
entkS
i ection:k i 4-
1kiThekiBasicskiofkiProbabilitykiOutcome:ki1

15) ThekiownerskiofkiGreg'skiDepartmentkiStorekihavekireasonkitokibelievekithatkionekiofkitheirkiemploy
eeskihaskibeenkistealingkifromkithekistore.kiInkiankiinterviewkiwithkithekipolice,kithekiownerkisayskithatki
shekiiski75kipercentkisurekithatkithekei mployeekiiskistealing.kiThiskiprobabilitykiiskiankiexamplekiofkioneki
thatkiwaskiassessedkiusingkiclassicalkiprobability.kiAnswer:k i FALSE
Diff:ki2
Keywords:k i subjective,kiprobability,kiassessm
entkS
i ection:k i 4-
1kiThekiBasicskiofkiProbabilitykiOutcome:ki1




4-4
Copyrightki©ki2014kiPearsonkiEducation,
kiInc.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Clayjohnson. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $22.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

76462 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$22.99
  • (0)
  Add to cart