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Exam 11: Probability and Statistics

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Question 41

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A company markets educational software products and is ready to place three new products on the market. Past experience has shown that for this particular software, the chance of "success" is 80%. Assume that the probability of success is independent for each product. What is the probability that exactly 1 of the 3 products is successful?

A) 0.80
B) 0.032
C) 0.24
D) 0.096

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Question 42

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Probabilistic techniques assume that no uncertainty exists in model parameters.

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Question 43

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The ________ normal distribution has a mean of 0 and a standard deviation of 1.

________ probability is an estimate based on a personal belief, experience, and knowledge of a situation.

A fair die is rolled nine times. What is the probability that an odd number (1, 3, or 5) will occur less than 3 times?

Jim is considering pursuing an MS in Information Systems degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 20% for University X and 45% for University Y. -What is the probability that Jim will be accepted by at least one of the two universities?

The weight of a loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is less than 24 oz?

Relative frequency is the more widely used definition of objective probability.

A joint probability is the probability that two or more events that are mutually exclusive can occur simultaneously.

The weight of a loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf of bread is larger than 23 oz?

For the normal distribution, the mean plus and minus 1.96 standard deviations will include what percent of the observations?

The weight of a loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is between 21.75 and 22.25 oz?

An online sweepstakes has the following payoffs and probabilities. Each person is limited to one entry. $\begin{array} { r r } \text { Payoff } & \text { Probability } \\\hline \$ 1.00 & 0.1000 \\\$ 5.00 & 0.0100 \\\$ 10.00 & 0.0050 \\\$ 100.00 & 0.0010 \\\$ 1,000.00 & 0.0005 \\\$ 5,000.00 & 0.0001 \\\hline\end{array}$ -The probability of winning at least $1000 is ________.

Employees of a local company are classified according to gender and job type. The following table summarizes the number of people in each job category. $\begin{array}{lcc}&\underline{\text { Male (M)}}&\underline{\text {Female (F) }}\\\underline{\text { Job }}\\\text { Administrative (AD) } & 110 & 10 \\\text { Salaried staff (SS) } & 30 & 50 \\\text { Hourly staff (HS) } & 60 & 40\end{array}$ -If an employee is selected at random, what is the probability that the employee is male?

Horatio Oscar Vineeth Lane (HOV Lane for short) records his commute times for a period of one month and assigned them to five different categories as shown in the table. $\begin{array} { | c | c | } \hline \text { Commute Length } & \text { Number af Observations } \\\hline \text { commute time } < 10 \text { minutes } & 1 \\\hline 10 \leq \text { commute time } < 20 \text { minutes } & 2 \\\hline 20 \leq \text { commute time } < 30 \text { minutes } & 4 \\\hline 30 \leq \text { commute time } < 40 \text { minutes } & 9 \\\hline 40 \leq \text { commute time } < 50 \text { minutes } & 4 \\\hline\end{array}$ -Which of these events are mutually exclusive?

A ________ probability distribution indicates the probability of r successes in n trials.

The cumulative probability for all six outcomes of tossing a fair die should end with the value ________.

The fact that the first toss of a coin has no effect on the outcome of the second toss of the coin suggests that these events are ________.

Horatio Oscar Vineeth Lane (HOV Lane for short) records his commute times for a period of one month and assigned them to five different categories as shown in the table. $\begin{array} { | c | c | } \hline \text { Commute Length } & \text { Number af Observations } \\\hline \text { commute time } < 10 \text { minutes } & 1 \\\hline 10 \leq \text { commute time } < 20 \text { minutes } & 2 \\\hline 20 \leq \text { commute time } < 30 \text { minutes } & 4 \\\hline 30 \leq \text { commute time } < 40 \text { minutes } & 9 \\\hline 40 \leq \text { commute time } < 50 \text { minutes } & 4 \\\hline\end{array}$ -What is the probability that Mr. Lane makes it home in under thirty minutes?

Experiments with repeated independent trials will be described by the binomial distribution if