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September 30, 2014 at 6:48 PM(UTC/GMT)

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100% Correct of 10 Scored items:10 Correct: 100%0 Incorrect: 0%

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1. If P(A) = 0.6, P(B) = 0.4, P(A and B) = 0.0 , what can be said about events A and B?

Your Answer: They are mutually exclusive.

CORRECT.

2. The probability of event A occurring is 0.3, while the probability that event B occurs is0.8. The probability that event A and event B occur simultaneously is 0.2. If it isknown that event A occurred, what is the probability that event B occurred also?

Your Answer: 0.67

CORRECT.

3. At a university with 1,000 business majors, there are 200 business students who areenrolled in an introductory statistics course. Of these 200, 50 are also enrolled in anintroductory accounting course. There are an additional 250 business students whoare enrolled in accounting but are not enrolled in statistics. If a business student isselected at random, what is the probability that the student is not enrolled inaccounting?

Your Answer: none of the above

CORRECT. 300 of the 1000 students are enrolled in accounting, therefore 700 or 0.70of the students are not enrolled in accounting.

4. At a university with 1,000 business majors, there are 200 business students who areenrolled in an introductory statistics course. Of these 200, 50 are also enrolled in anintroductory accounting course. There are an additional 250 business students whoare enrolled in accounting but are not enrolled in statistics. Are the events beingenrolled in accounting and being enrolled in statistics mutually exclusive?

9/30/2014 Chapter 2: Probability Concepts and Applications

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Your Answer: no

CORRECT.

5. A production process is known to produce a particular item in such a way that 3% ofthese are defective. If three items are randomly selected as they come off theproduction line, what is the probability that all three are defective (assuming thatthey are all independent)?

Your Answer: 0.000027

CORRECT.

6. A company is considering producing some new products. Based on past records,management believes that there is a 60% chance that the first product will besuccessful, and a 40% chance that the second product will be successful. As theseproducts are completely different, it may be assumed that the success of one istotally independent of the success of the other. If two products are introduced to themarket, what is the probability that both are successful?

Your Answer: 0.24

CORRECT.

7. A company is considering producing some new products. Based on past records,management believes that there is a 70% chance that each of these will besuccessful, and a 30% chance of failure. Market research may be used to revise theseprobabilities. In the past, the successful products were predicted to be successfulbased on market research 90% of the time. However, for products that failed, themarket research predicted these would be successes 20% of the time. If marketresearch is performed for a new product, what is the probability that the resultsindicate a successful market for the product and the product actually is successful?

Your Answer: 0.63

CORRECT.

8. Given that one car has passed through an intersection, the time we will have to waituntil the next car passes through can be described by the

Your Answer: none of the above

CORRECT. The distribution describing the time between arrivals is the negative

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exponential.

9. A normal random variable (X) has a mean of 70 and a standard deviation of 8. Whatis the probability that X is greater than 94?

Your Answer: 0.0013

CORRECT.

10. The time required to complete a project is normally distributed with a mean of 60weeks and a standard deviation of 5 weeks. What is the probability that the projectwill require from 55 to 65 weeks to complete?

Your Answer: 0.84134

CORRECT.

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