Mat540 Week 2 Quiz Essay

1182 words - 5 pages

* Question 1
2 out of 2 points
| |
| Probability trees are used only to compute conditional probabilities.
 Answer | | | |
| Selected Answer: |  False |
Correct Answer: |  False |
| | | |
* Question 2
2 out of 2 points
| |
| If two events are not mutually exclusive, then P(A or B) = P(A) + P(B)
 Answer | | | |
| Selected Answer: |  False |
Correct Answer: |  False |
| | | |
* Question 3
2 out of 2 points
| |
| Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed.
 Answer | | | |
| Selected Answer: |  False |
Correct Answer: |  False |
| ...view middle of the document...

  If the exam average is 62 with a standard deviation of 13, what grade should be the cutoff for an A? (Round your answer.)Answer | | | |
| Selected Answer: |    83 |
Correct Answer: |    83 |
| | | |
* Question 9
2 out of 2 points
| |
| The chi-square test is a statistical test to see if an observed data fit a _________.Answer | | | |
| Selected Answer: |    All of the above
  |
Correct Answer: |    All of the above
  |
| | | |
* Question 10
2 out of 2 points
| |
| Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot.  Assume also that this time is normally distributed with a standard deviation of 2 minutes. Find the probability that a randomly selected college student will take between 2 and 6 minutes to find a parking spot in the main parking lot.Answer | | | |
| Selected Answer: |    0.6247 |
Correct Answer: |    0.6247 |
| | | |
* Question 11
2 out of 2 points
| |
| A business owner is trying to decide whether to buy, rent, or lease office space and has constructed the following payoff table based on whether business is brisk or slow.
 
           
 
The maximin strategy is:Answer | | | |
| Selected Answer: |    Lease |
Correct Answer: |    Lease |
| | | |
* Question 12
2 out of 2 points
| |
| The maximin criterion results in theAnswer | | | |
| Selected Answer: |    maximum of the minimum payoffs |
Correct Answer: |    maximum of the minimum payoffs |
| | | |
* Question 13
0 out of 2 points
| |
| A group of friends are planning a recreational outing and have constructed the following payoff table to help them decide which activity to engage in.  Assume that the payoffs represent their level of enjoyment for each activity under the various weather conditions.                   
 
                        Weather
                  Cold    Warm  Rainy
                  S1      S2               S3
Bike:   A1      10          8           6
Hike:  A2      14        15           2
Fish:   A3        7          8           9
 
If the group chooses to minimize their maximum regret, what activity will they choose?Answer | | | |
| Selected Answer: |    A2 |
Correct Answer: |    Any of the above |
| | | |
* Question 14
0 out of 2 points
| |
| A group of friends are planning a recreational outing and have constructed the following payoff table to help them decide which activity to engage in.  Assume that the payoffs represent their level of enjoyment for each activity under the various weather conditions.                   
 
                        Weather
                  Cold    Warm  Rainy
                  S1      S2               S3
Bike:   A1      10          8           6
Hike:  A2      14        15           2
Fish:   A3        7          8           9
 
What is the conservative decision for this...

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