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Applied Statistics In Business And Economics Quiz 2 With Instructor Notes

2180 words - 9 pages

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 marginal probability.B) a conditional probability.C) a joint probability.D) the intersection of two probabilities.Answer: B4. If each of two independent file servers has a reliability of 93% and either alone can run the web site, then the overall web site availability isA) 0.9951B) 0.8649C) 0.9300D) 0.9522Answer: AP ( A) = .93 P (B) = .93 P (A ∩ B ) = .93*.93 = .8649P (A U B ) = P (A) + P (B) - P (A ∩ B )= .93 + .93 - .8649= .9951Use the following to answer 5 - 95. P(V ) is approximatelyA) .20B) .40C) .50D) .80Answer: DP ( V ) = = .2Hence P ( V') = 1- P (V)= 1 - .2= .86. P(W S) is approximatelyA) .12B) .30C) .40D) .58Answer: AP ( W ∩ S ) = = .127. P(A M) is approximatelyA) .25B) .50C) .625D) .125Answer: CP(A M) = P (A) + P ( M) - P ( A ∩ M )= + -== .6258. P(S | W) is approximatelyA) .12B) .3C) .4D) .58Answer: BP ( S | W ) = = = .39. Are Service provider and county independent events?A) Yes.B) No.C) Insufficient information to determine.D) None of the aboveAnswer: BUse the following to answer 10 - 12This table shows a cross-tabulation of employee age versus absenteeism during January at the Zarthan Company.10. What is P(B)?A) 0.85B) 0.25C) 0.45D) 0.225Answer: CP ( B ) = = 0.4511. What is P(A B)?A) 0.25B) 0.85C) 0.60D) 0.425Answer: CP ( A U B ) = P (A) + P (B) - P ( A∩B)= + -= 0.6012. What is P(B | A)?A) 0.25B) 0.45C) 0.85D) 0.625Answer: DP ( B | A ) = = = 0.62513. The manager of a Drug Store knows that 50% of the customers entering the store buy prescription drugs, 65% buy over-the-counter drugs and 18% by both types of drugs. What is the probability that a randomly selected customer will buy at least one of these two types of drugs?A) .5B) .85C) .97D) 1.0Answer: CP ( Pre ) = .50 P ( Counter ) = .65 P ( Both ) = .18P ( At least one type) = P ( Pre ) + P ( Counter ) - P ( Both)= .50 +.65 - .18= 0.97Use the following to answer 14 - 16The following table classifies 800 telephone calls by type (local or long distance) and by length.14. The joint probability that a call sampled at random out of this population is local and 1-5 minutes long isA) 0.5000B) 0.3125C) 0.4000D) 0.4625Answer: BP (Call is local and 1 - 5 minutes long) = = 0.312515. If a call is sampled at random, the marginal probability that the...

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