Discrete distributions are collections of data in which all values are integers.

Question 1 options:

True

False

Question 2(1 point)

The Binomial Distribution is useful for analyzing random discrete experiments in which there are exactly two possible outcomes for each experiment.

Question 2 options:

True

False

Question 3(1 point)

The Poisson Distribution is useful for analyzing random discrete experiments in which there are multiple possible outcomes for each experiment.

Question 3 options:

True

False

Question 4(1 point)

The Hypergeometric Distribution is useful for analyzing random discrete experiments in which outcomes are independent from one another, and remain constant from experiment to experiment.

Question 4 options:

True

False

Question 5(1 point)

When you flip a coin, there is basically a 25% chance that it will land on "heads."

Question 5 options:

True

False

Question 6(1 point)

One of the best tools available to business managers to quantify the risk associated with the unknown is probability theory.

Question 6 options:

True

False

Question 7(1 point)

In business analysis, you will rarely work with sample data, primarily because data on samples are too voluminous or expensive to acquire.

Question 7 options:

True

False

Question 8(1 point)

If you are interested in conclusions that stretch beyond the available sample, it is important to ensure that the sample closely resembles the population from which it came.

Question 8 options:

True

False

Question 9(1 point)

The most common goal of data analysis is to estimate population parameters of interest from sample data.

Question 9 options:

True

False

Question 10(1 point)

The key to being able to maximize the allocation of financial and other resources among the different vehicles is the assessment of relative probability.

Question 10 options:

True

False