University of Phoenix OnlineCourse: RES / 341QUIZ # 2(Chapter 5+6+7 from Applied Statistics in Business and Economics )45 Questions [Each Question = 1 Point]SOLUTIONPlease mark one answer for all multiple choice questions with RED!Chapter 51. Events A and B are mutually exclusive whenA) the joint probability of the two events is zero.
B) they are independent events.
C) P(A)P(B) = 0D) P(A)P(B) = P(A | B)Answer: A2. Independent events A and B would be consistent with which of the following statements:A) P(A) = .3, P(B) = .5, P(A B) = .4B) P(A) = .4, P(B) = .5, P(A B) = .2C) P(A) = .5, P(B) = .4, P(A B) = .3D) P(A) = .4, P(B) = .3, P(A B) = .5Answer: B3. The probability of event A occurring given event B has occurred is an example ofA) a
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D) has none of the above properties.
Answer: B20. Which of the following distributions is not discrete?A) Binomial.
B) Geometric.
C) PoissonD) Normal.
Answer: D21. In a randomly-chosen month, which probability model would you use to describe the number of accidents at the intersection of two streets?A) BinomialB) PoissonC) HypergeometricD) GeometricAnswer: B22. A carnival has a game of chance: a fair coin is tossed. If it lands heads you win $1.00 and if it lands tails you lose 50 cents. How much should a ticket cost if the carnival wants to breakeven?A) $0.50B) $0.25C) $ 0.75D) $1.00Answer: BAt Break evenE(X) = 0X 1 -.50P (X = x) . 5 .5E ( X) = 1 * .5 - .5 * .5 = .5 - .25 = 0.2523. A die is rolled. If it rolls to 1, 2 you win $2. If it rolls to a 3, 4, 5, 6 you lose $1. Find the expected winnings.
A) $1B) $2C) $0.50D) $0.25Answer: AUse the following to answer 24-27The discrete random variable X is the number of students that show up for Professor Smith's office hours on Monday afternoons. The table below shows the probability distribution for X24. What is the E(X) for this distribution?A) 0B) 1C) 1.5D) 2Answer: BE ( X ) = 0 * .40 + 1 *.30 + 2 *.20 + 3*.10= .30 +.40 +.30= 125. What is the probability that at least 1 student comes to office hours on any given Monday?A) .30B) .40C) .50D) .60Answer: DP ( X ≥ 1 ) = P ( X = 1) + P ( X = 2 ) + P ( X = 3)= .30 +.20 +.10= 0.6026. What is the probability that fewer than 2 students come to office hours on any given
Due to financial hardship, the Nyke shoe company feels they only need to make one size of shoes, regardless of gender or height. They have collected data on gender, shoe size, and height and have asked you to tell them if they can change their business model to include only one size of shoes – regardless of height or gender of the wearer. In no more 5-10 pages (including figures), explain your recommendations, using statistical evidence to support your findings. The data found are below:
7. Write an equation to find the “Number of people who know” for any 5-minute interval in Scenario B.
(1) A study of the number of cars sold looked at the number of cars sold at 500
• Provide at least two examples or problem situations in which statistics was used or could be used.
8. Question : Which of the following is a provision of the central limit theorem?
Short Answer Writing Assignment – Both the calculated binomial probabilities and the descriptive statistics from the class database will be used to answer the following questions.
If they get a sample proportion over 24% they are going to shut down their email server. What is the probability this will happen?
The t-test is a parametric analysis technique used to determine significant differences between the scores obtained from two groups. The t-test uses the standard deviation to estimate the standard error of the sampling distribution and examines the differences between the means of the two groups. Since the t-test is considered fairly easy to calculate, researchers often use it in determining differences between two groups. When interpreting the results of t-tests, the larger the calculated t ratio, in absolute value, the greater the difference between the two groups. The significance of a t ratio can be determined by comparison with the critical values in a
Suppose that for a certain football game the probability that the home team will be
and report your results in the usual form. What is the (approx) predicted percentage increase in salary given one more year as a CEO?
A pharmaceutical company is testing the effectiveness of a new drug for lowering cholesterol. As part of this trial, they wish to determine whether there is a difference between the effectiveness for women and for men. Using = .05, what is the value the test statistic?
9. Flip a coin 25 times and keep track of the results. What is the experimental probability of landing on tails? What is the theoretical probability of landing on heads or tails?
Why does the sampling distribution of the mean follow a normal distribution for a large enough sample size, even though the population may not be normally distributed?
b. A house may be severely damaged in a fire. c. A family head may be totally disabled in a plant explosion. d. An investor purchases 100 shares of Microsoft stock. e. A river that periodically overflows may cause substantial property damage to thousands of homes in the floodplain. f. Home buyers may be faced with higher mortgage payments if the Federal Reserve raises interest rates at its next meeting. g. A worker on vacation plays the slot machines in a casino.
b. What is the probability of failing on the first 2 trials and passing on the