TRUE/FALSE. Write 'T' if the statement is true and 'F' if the statement is false. 1) A sample space is the set of all possible outcomes in an experiment. 1) 2) Probability is the measure of the relative likelihood that an event will occur. 2) SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. 3) Recently, a few companies have been accused of issuing stock options to their 3) top executives at the lowest stock price of the year. Executives can later sell these stock shares at a higher price and make a large prot. In some companies, this happened several years in a row. An executive argued, "It's just a coincidence. There are about 250 trading days in a year, so there is a reasonable chance that my option price just happened to be lowest of the year. " Discuss. 4) Read the news story below. Using the 95 percent condence level, what sample 4) size would be needed to estimate the true proportion of stores selling cigarettes t( minors with an error of i 3 percent? Explain carefully, showing all steps in your reasoning. Decoys Catch Stores in Cigarette-Sale Sting The Tri-Cities Tobacco Reduction coalition recently sent three underage teenagers out to see whether they could buy cigarettes from stores in Detroit and Highland Park. The results were not good. Of the 320 stores checked, 82 sold cigarettes to the teens, who were between the ages of 15 and 17. People must be 18 to legally buy cigarettes in Michigan. When the age of the buyer is not clear, the retailer is supposed to check the buyer's ID. The stores that sold the cigarettes will face nes. Source: Detroit Free Press. March 19. 2001. p. 20. 5) In a survey, 858 out of 2600 homeowners said they expected good economic 5) conditions to continue for the next 12 months. Construct a 95 percent condence interval for "good times" in the next 12 months