1152 words - 5 pages

Quiz 2 Math 540

• Question 1

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 2

2 out of 2 points

Probability trees are used only to compute conditional probabilities.

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

• Question 4

0 out of 2 points

The equal likelihood criterion assigns a ...view middle of the document...

What is the probability that a randomly selected jet will generate a noise level of more than 105 decibels?

Answer

Selected Answer:

0.0475

Correct Answer:

0.0475

• 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

A professor would like to utilize the normal distribution to assign grades such that 5% of students receive A's. 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 11

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 situation?

Answer

Selected Answer:

Any of the above

Correct Answer:

A3

• Question 12

0 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.

If the probability of brisk business is .40 and for slow business is .60, the expected value of perfect information is:

Answer

Selected Answer:

69

Correct Answer:

12

• Question 13

2 out of 2 points

Determining the worst payoff for each alternative and choosing the alternative with the best worst is called

Answer

Selected Answer:

maximin

Correct Answer:

maximin

• Question 14

2 out of 2 points

The maximin criterion results in the

Answer

Selected Answer:

maximum of the minimum payoffs

Correct Answer:

maximum of the minimum payoffs

• Question 15

0 out of 2 points

A life insurance company wants to update its actuarial tables. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 71 years and a standard deviation of 3.5 years. What proportion of the plan participants are expected to see their 75th birthday? Note: Write your answers with two places after the decimal, rounding off as appropriate.

Answer

Selected Answer: 0.13 .13 Case Sensitivity .06

Correct Answer:

Evaluation Method Correct Answer...

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