Question 1

Which of the following best describes a probability?

Accepted Answer

A numerical value that indicates the chance or likelihood of a specific event occurring.

Question 2

The event 'the first customer in the store today will be a female' is an example of which type of event?

Accepted Answer

A simple event

Question 3

What must the sum of all probabilities for the simple events in a sample space equal?

Accepted Answer

$$1$$

Question 4

Events A and B are considered to be independent if:

Accepted Answer

$$P(A|B) = P(A)$$

Question 5

The mean of a discrete probability distribution is calculated as:

Accepted Answer

$$\sum x_i P(x_i)$$

Question 6

Two six-sided dice are rolled. What is the probability that the sum of the two dice is 10?

Accepted Answer

$$0.056$$

Question 7

Based on the pie chart, what percentage of the class consists of freshman, sophomores, and juniors?

Accepted Answer

$$86\%$$

Question 8

Which of the following is NOT a condition of a discrete probability distribution?

Accepted Answer

The probability of a success must exceed the probability of a failure.

Question 9

Given the probability table for an unfair die, let A be the event that the number rolled is less than 4, and B be the event that the number rolled is odd. What is $$P(A \cap B)$$?

Accepted Answer

$$0.2$$

Question 10

When the discrete random variable is expressed in terms of dollars, the mean of the distribution is known as the:

Accepted Answer

Expected monetary value

Question 11

A business wants to know the probability that the first three customers of the day are all female. If the probability that a single customer is female is $$0.6$$, what is the probability that all three are female?

Accepted Answer

$$0.216$$

Question 12

If $$P(A) = 0.4$$, $$P(B) = 0.5$$, and $$P(A \cap B) = 0.2$$, what is $$P(A \cup B)$$?

Accepted Answer

$$0.7$$

Question 13

A company is considering two projects. Project X has a $$0.3$$ probability of success and Project Y has a $$0.5$$ probability of success. If the projects are independent, what is the probability that both projects succeed?

Accepted Answer

$$0.15$$

Question 14

Which of the following statements is true about mutually exclusive events?

Accepted Answer

If two events are mutually exclusive, $$P(A \cap B) = 0$$

Question 15

A discrete random variable $$X$$ has the following probability distribution: $$P(X=1)=0.2$$, $$P(X=2)=0.5$$, $$P(X=3)=0.3. $$What is the mean of $$X$$?

Accepted Answer

$$2.1$$

Question 16

A store manager wants to know the expected number of defective items in a shipment of 100 items if the probability of an item being defective is $$0.04. $$What is the expected number of defective items?

Accepted Answer

$$4$$

Question 17

If the probability of an event is $$0.25$$, what are the odds against the event occurring?

Accepted Answer

3 to 1

Question 18

A discrete probability distribution must satisfy which of the following conditions?

Accepted Answer

The sum of all probabilities must equal 1.

Question 19

A company has three types of employees: managers (10%), engineers (60%), and technicians (30%). If one employee is selected at random, what is the probability that the employee is not an engineer?

Accepted Answer

$$0.4$$

Question 20

If $$P(A) = 0.7$$ and $$P(B) = 0.2$$, and A and B are mutually exclusive, what is $$P(A \cup B)$$?

Accepted Answer

$$0.9$$

Statistics for Business: Probability and Discrete Distributions Study Guide

Study Guide - Practice Questions

Study Guide - Flashcards