Social and managerial decisions are based for the most part upon:

Group of answer choices

relative frequency probability.

classical probability.

subjective probability.

conditional probability.

Flag question: Question 2

Question 2

2pts

After analyzing the last fifteen years of college graduation data, the academic dean at a local college stated that there is a 40% probability of a newly entering freshman completing their degree withinfourto five years. The stated 40% probability is an example of which of the following types of probability?

Group of answer choices

relative frequency probability.

collectively exhaustive probability.

classical probability.

subjective probability.

Flag question: Question 3

Question 3

2pts

The main difference between a frequency distribution and a probability distribution is that:

Group of answer choices

there is no difference between frequency distributions and probability distributions.

a frequency distribution lists the average values a variable can assume over many independent trials, whereas a probability distribution lists odds of success for the variable.

a frequency distribution deals with discrete random variables, whereas a probability distribution deals with continuous random variables.

a frequency distribution lists the number of times each outcome occurred, whereas a probability distribution lists the likelihood of each possible outcome occurring.

Flag question: Question 4

Question 4

2pts

The QRS Company believes that there is a 10% probability that they will not be able to meet their delivery dates. What are theoddsthat the company will not be able to meet their delivery dates?

Group of answer choices

1:9

10:1

90%

1:10

Flag question: Question 5

Question 5

2pts

Use the information below to answer questions 5 - 10.

A company is considering introducing two new products. Based on sampling results, the company is expecting a probability of success forProduct Aof60%and a probability of success forProduct Bof80%. The success of Product A is independent of Product B's success. What is the probability thatbothProduct A and Product B will be successful?(Hint:Use the formulas or draw a Venn diagram.)

Probability Formula Choices:

P ( A

B ) =P(A) P(B) forIndependent Events;

P ( A

B )=P(A) P(B / A ) for Dependent Events;or

P ( A

B )= P(A) + P(B) - P(A

B) for Not Mutually Exclusive Events.

Group of answer choices

140%

70%

48%

20%

Flag question: Question 6

Question 6

2pts

The above question (#5) was solved using:

Group of answer choices

the multiplication rule.

the subtraction rule for complements of events.

the addition rule.

expected value.

Flag question: Question 7

Question 7

2pts

Using the same information provided in question #5 regarding a company that is considering introducing two new products, what is the probability thatat least oneof the products will be successful?(Hint:Use the formulas or draw a Venn diagram.)

Probability Formula Choices:

P ( A

B ) =P(A) P(B) forIndependent Events;

P ( A

B )=P(A) P(B / A ) for Dependent Events;or

P ( A

B )= P(A) + P(B) - P(A

B) for Not Mutually Exclusive Events.

Group of answer choices

140%

92%

52%

48%

Flag question: Question 8

Question 8

2pts

The above question (#7) was solved using:

Group of answer choices

the addition rule.

the multiplication rule.

the division rule.

the subtraction rule.

Flag question: Question 9

Question 9

2pts

Using the same information provided in question #5 regarding a company that is considering introducing two new products, what is the probability thatneitherProduct A nor Product B will be successful?(Hint:Use the formulas or draw a Venn diagram.)

Probability Formula Choices:

P ( A

B ) =P(A) P(B) forIndependent Events;

P ( A

B )=P(A) P(B / A ) for Dependent Events;or

P ( A

B )= P(A) + P(B) - P(A

B) for Not Mutually Exclusive Events.

Group of answer choices

20%

8%

0%

-40%

Flag question: Question 10

Question 10

2pts

The above question (#9) is an example of:

Group of answer choices

collectively exhaustive events.

a complement of an event.

mutually exclusive events.

dependent events.

Flag question: Question 11

Question 11

2pts

Use the diagram shownbelow to answer questions 11 - 15.

Theshaded areain the diagram can be interpreted as:

Group of answer choices

B / A

A

B

A / B

A

B

Flag question: Question 12

Question 12

2pts

Using the information provided below,the probability of theshaded areain the above diagram is:

(1) "A" and "B" are independent events,

(2) the probability of "A" is .50

(3)the probability of "B" is .30.

Probability Formula Choices:

P ( A

B ) =P(A) P(B) forIndependent Events;

P ( A

B )=P(A) P(B / A ) for Dependent Events;or

P ( A

B )= P(A) + P(B) - P(A

B) for Not Mutually Exclusive Events.

Group of answer choices

0.80

0.20

0.65

0.15

Flag question: Question 13

Question 13

2pts

Referencing the above diagram, the probability of "A" or "B" (or both) occurring is:

Probability Formula Choices:

P ( A

B ) =P(A) P(B) forIndependent Events;

P ( A

B )=P(A) P(B / A ) for Dependent Events;or

P ( A

B )= P(A) + P(B) - P(A

B) for Not Mutually Exclusive Events.

Group of answer choices

0.80

0.65

0.20

0.15

Flag question: Question 14

Question 14

2pts

Referencing the above diagram, the probability of area "C" occurring is:

Group of answer choices

0.80

0.20

0.35

0%

Flag question: Question 15

Question 15

2pts

Referencing the above diagram, which of the following choices isNOTcorrect regarding area "C"?

Group of answer choices

P(C) = 1.00 - P(A / B).

The probability of A, B, or C occurring is collectively exhaustive, and therefore equal to 1.00.

P(C) is the complement of events A or B (or both) occurring.

P(C)=1.00-P(A

B).

Flag question: Question 16

Question 16

2pts

On any given day the owner of a yard service earns an average of $40 iper job if it does not rain, and earns $0 if it rains. If the probability of rain on a given day is 25%, what is the expected gain (value) per job for the yard service owner on that given day?

Formula:E(x)=

xp

Group of answer choices

$50

$40

$30

$10

Flag question: Question 17

Question 17

2pts

Which of the following situations can use thebinomialprobability distribution?

Group of answer choices

A sampling of 100 parts to determine whether or not they meet specifications.

The number of defects per mile of highway.

The probability of earning a gradeof between 80% - 90% on this exam.

The number of customers handled per teller per day at a local bank.

Flag question: Question 18

Question 18

2pts

The difference between the binomial and the Poisson distributions is that:

Group of answer choices

the binomial involves "x" successes in "n" trials, while the Poisson involves "x" successes over time or space.

the binomial is a discrete probability distribution, while the Poisson is a continuous probability distribution.

the Poisson is a discrete probability distribution, while the binomial is a continuous probability distribution.

the binomial is a probability distribution, while the Poisson is a frequency distribution.

Flag question: Question 19

Question 19

2pts

The probability is 60% that a person earning more than $40,000 per year owns their own home. Iftenpeople are selected at random, what is the probability thatat least sevenwill own a home?(Hint: Think of the "characteristics" of the probability situation, then use the appropriate table.)

Group of answer choices

0.618

0.382

0.0006

0.215

Flag question: Question 20

Question 20

2pts

The correct table to use when answering the previous question (#19) is the:

Group of answer choices

Poisson distribution table.

binomial distribution table.

uniform distribution table.

normal distribution table.

Flag question: Question 21

Question 21

2pts

The number of telephone calls coming into the central switchboard of the college averagesfivecalls per minute. What is the probability thatno calls(zero) will come into the switchboard over the stated time period?

(Hint: Think of the "characteristics" of the probability situation, then use the appropriate table.)

Group of answer choices

0.0067

0.7738

0%

1.000

Flag question: Question 22

Question 22

2pts

The correct table to use to answer the previous question (#21) is the:

Group of answer choices

normal distribution table.

uniform distribution table.

binomial distribution table.

Poisson distribution table.

Flag question: Question 23

Question 23

2pts

The main difference between the uniform distribution and the normal distribution is that the uniform distribution:

Group of answer choices

is a discrete probability and the normal distribution is a continuous probability.

is used to measure the random arrival of events per unit of time or space and the normal distribution is used for non-random events.

is a continuous probability and the normal distribution is a discrete probability.

has the same probability for every outcome and the normal distribution has higher probabilities for outcomes centered around the mean.

Flag question: Question 24

Question 24

2pts

Which of the following statements isNOTcorrect with regard to the normal distribution and the standardized z-value?

Group of answer choices

The area under the normal curve can be either negative or positive.

z-values represent the number of standard deviations from the mean.

The standardized z-value can be either negative or positive.

The shape of any normal curve is totally determined by its mean()and its standard deviation(

).

Flag question: Question 25

Question 25

2pts

What proportion of the area under the normal curve lieswithin 1.00 standard deviationof the mean?

(Hint: Use the z-table.)

Group of answer choices

0.3413

0.6826

100%

Cannot be determined.

Flag question: Question 26

Question 26

2pts

The personnel department at a local college knows that the number of years its employees have worked at the college isuniformly distributedwith a minimum of zero years (newly hired) and a maximum of 25 years. Using this information, what is the average (mean) number of years of employment for college employees?

Formula:= (a + b)2

Group of answer choices

15 years

5 years

10 years

12.5 years

Flag question: Question 27

Question 27

2pts

Using the same information provided in the previous question (#26) regarding the length of employment at a college being uniformly distribution, what is the probability that a randomly chosen employee has worked at the collegebetween five and ten years?

Formula:P(X)=(d - c)(b - a)

Group of answer choices

.50 = 50%

.05 = 5%

.25 = 25%

.20 = 20%

Flag question: Question 28

Question 28

2pts

Using the same information provided in the previous two questions (#25 and #26) regarding the length of employment at a college being uniformly distribution, what is the probability that a randomly chosen employee has worked at the collegeformore than fifteen years?

Formula:P(X)=(d - c)(b - a)

Group of answer choices

.30 = 30%

.40 = 40%

.20 = 20%

.60 = 60%

Flag question: Question 29

Question 29

2pts

A local police department determined that the amount of overtime hours worked by its officers is normally distributed with a mean of 6.8 hours and a standard deviation of 1.0 hours. What is the probability that a randomly selected police officer will workless than 6.6overtime hours?

Formula:Z=(X -)

Group of answer choices

.4207

.2000

.0793

.9207

Flag question: Question 30

Question 30

2pts

Referencing the information provided in the previous question (#29), what is the probability that a randomly selected police officer will workbetween 6.8 and 8.5overtime hours?

Formula:Z=(X -)

Group of answer choices

.9554

.0446

.1530

.4554