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Terms in this set (38)Inferring the value of a population parameter from the statistic on a random sample drawn from the population is an inferential process under uncertainty. True Assigning probabilities to uncertain events based on one's beliefs or intuitions is called classical method. False The method of assigning probabilities to uncertain outcomes based on laws and rules is called the relative frequency method. False If the occurrence of one event does not affect the occurrence of another event, then the two events are mutually exclusive. False Probability is used to develop knowledge of the fundamental mathematical tools for quantitatively assessing risk. True The counting rule that is used for counting the number of experimental outcomes when n objects are selected from a set of N objects where order of selection is important is called the counting rule for permutations. When the results of experimentation or historical data are used to assign probability values, the method used to assign probabilities is referred to as the relative frequency method. Some of the CDs produced by a manufacturer are defective. From the production line, 5 CDs are selected and inspected. How many sample points exist in this experiment? 32 Each customer entering a department store will either buy or not buy some merchandise. An experiment consists of following 3 customers and determining whether or not they purchase any merchandise. The number of sample points in this experiment is 8. If P(A) = 0.48, P(A ∪ B) = 0.82, and P(B) = 0.54, then P(A ∩ B) = 0.2000 The collection of all possible sample points in an experiment is the sample space. When the assumption of equally likely outcomes is used to assign probability values, the method used to assign probabilities is referred to as the classical method. The set of all possible outcomes of an experiment is the sample space If a six sided die is tossed two times and "3" shows up both times, the probability of "3" on the third trial is 1/6. The probability of the occurrence of event A in an experiment is 1/3. If the experiment is performed 2 times and event A did not occur, then on the third trial event A may occur. The symbol ∪ shows the union of events. If A and B are independent events with P(A) = 0.35 and P(B) = 0.20, then, P(A ∪ B) = 0.48. The union of events A and B is the event containing all the sample points belonging to A or B or both A method of assigning probabilities which assumes that the experimental outcomes are equally likely is referred to as the classical method. An experiment consists of selecting a student body president and vice president. All undergraduate students (freshmen through seniors) are eligible for these offices. How many sample points (possible outcomes as to the classifications) exist? 16. If a coin is tossed three times, the likelihood of obtaining three heads in a row is 0.125. An experiment consists of three steps. There are four possible results on the first step, three possible results on the second step, and two possible results on the third step. The total number of experimental outcomes is 24. Any process that generates well-defined outcomes is an experiment. From nine cards numbered 1 through 9, two cards are drawn. Consider the selection and classification of the cards as odd or even as an experiment. How many sample points are there for this experiment? 4. Let F be the event that a student is enrolled in a finance course, and let S be the event that a student is enrolled in a statistics course. It is known that 40% of all students are enrolled in a finance course and 35% of all students are enrolled in statistics. Included in these numbers are 15% who are enrolled in both statistics and finance. A student is randomly selected, what is the probability that the student is enrolled in either finance or statistics or both? 0.60. Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Objective: Electronics Airlines Healthcare Total Which of the following statements is not true? Airlines and Healthcare are collectively exhaustive. A market research firm is investigating the appeal of three package designs. The table below gives information obtained through a sample of 200 consumers. The three package designs are labeled A, B, and C. The consumers are classified according to age and package design preference. A B C Total If one of these consumers is randomly selected, what is the probability that the person prefers design A and is under 25? 0.11 Suppose 5% of the population have a certain disease. A laboratory blood test gives a positive reading for 95% of people who have the disease. What is the probability of testing positive and having the disease? 0.0475 Which of the following is a legitimate probability value? 0.28 A market research firm is investigating the appeal of three package designs. The table below gives information obtained through a sample of 200 consumers. The three package designs are labeled A, B, and C. The consumers are classified according to age and package design preference. A B C Total If one of these consumers is randomly selected, what is the probability that the person prefers design A? 0.38 Abel Alonzo, Director of Human Resources, is exploring employee absenteeism at the Plano Power Plant. Ten percent of all plant employees work in the finishing department; 20% of all plant employees are absent excessively; and 7% of all plant employees work in the finishing department and are absent excessively. A plant employee is selected randomly; F is the event "works in the finishing department;" and A is the event "is absent excessively." P(A ∪ F) = _____________. 0.23 An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased. Based on the joint probability table below that was developed from the dealer's records for the previous year, P (Female ∩ SUV) = _______. Type Female Male Total 0.10 Assigning probability 1/52 on drawing the ace of spade in a deck of cards is an example of assigning probabilities using the ________________ method classical probability In a set of 25 aluminum castings, four castings are defective (D), and the remaining twenty-one are good (G). A quality control inspector randomly selects three of the twenty-five castings without replacement, and classifies each as defective (D) or good (G). The sample space for this experiment contains ____________ elementary events. 2,300 Let F be the event that a student is enrolled in afinance course, and let S be the event that a student is enrolled in a statistics course. It is known that 40% of all students are enrolled in a finance course and 35% of all students are enrolled in statistics. Included in these numbers are 15% who are enrolled in both statistics and finance. Find the probability that a student is in finance and is also in statistics. 0.15 Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified the portfolio stocks by 'industry sector' and 'investment objective.' Objective: Electronics Airlines Healthcare Total Which of the following statements is true? Electronics and Growth are independent. Suppose that 3% of all TVs made by some Company in 2012 are defective. If 2 of these TVs are randomly selected what is the probability that both are defective? 0.0009 The table below provides summary information about students in a class. The sex of each individual and their age is given. Male Female Total If a student is randomly selected from this group, what is the probability that the student is a female who is under 20 years old? 0.08 Students also viewedStatistics Exam 149 terms stephanie_trammel MS Test 1 Set231 terms louisanna_calderon Chapter 4 Quiz 310 terms bbk158 Assignment 220 terms VictorRinaldi Sets found in the same folderMS1023 2.1.4 Practice20 terms savrues MS1023 2.2.4 Practice30 terms savrues MS1023 3.1.4 Practice36 terms savrues MS 1023 3.2.4 Practice34 terms savrues Other sets by this creatorChapter 13 LearningCurve10 terms savrues Module 8 Lesson Quiz10 terms savrues Module 7 Lesson Quiz10 terms savrues Module 6 Lesson Quiz10 terms savrues Verified questionspre algebra Describe two ways to write equivalent algebraic expressions. Verified answer
calculus The total resistance $R$ produced by three conductors with resistances $R_1, R_2, R_3$ connected in a parallel electrical circuit is given by the formula $$ \frac{1}{R}=\frac{1}{R_1}+\frac{1}{R_2}+\frac{1}{R_3} $$ Find $\partial R / \partial R_1$. Verified answer algebra
Solve each system by substitution. $$ \left\{ \begin{array} { l } { x - 2 y = 10 } \\ { \frac { 1 } { 2 } x - 2 y = 4 } \end{array} \right. $$ Verified answer
calculus Let $\mathbf{F}=2 x \mathbf{i}+2 y \mathbf{j}+z^{2} \mathbf{k}$ Find $\iint_{S} \mathbf{F} \cdot d \mathbf{S}$, where S is the portion of the cone $x^2 + y^2 = z^2$ between the planes z = −2, and z = 1, oriented with outwardpointing normal. Verified answer Recommended textbook solutionsProbability and Statistics for Engineers and Scientists9th EditionKeying E. Ye, Raymond H. Myers, Ronald E. Walpole, Sharon L. Myers 1,204 solutions
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What type of probability is used in relatively simple experiments with easily defined sample spaces?Answer and Explanation: The correct answer is - CLASSICAL PROBABILITY. In classical probability, a sample space represents all of the different outcomes that may occur...
Which method of assigning probability is based on assignor's Judgement?Subjective approach: Assigning probabilities based on the assignor's (subjective) judgment. If an experiment has n possible outcomes, this method would assign a probability of 1/n to each outcome.
What is the frequency of an event quizlet?Terms in this set (4)
The Frequency is how many times an event occurs. What's the Relative Frequency? The Relative Frequency of an event is the number of times it occurs as a fraction or percentage of the total number of trials.
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What method of assigning probabilities to a simple event uses relative frequencies quizlet?
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