Question 1

Which of the following best describes a simple event in probability?

Accepted Answer

An outcome or event that cannot be further broken down into simpler components.

Question 2

Suppose you roll a single six-sided die. What is the probability of rolling a 4 using the classical approach?

Accepted Answer

$$\frac{1}{6}$$

Question 3

A survey of 2000 adults found that 1800 use the Internet. What is the probability that a randomly selected adult from this group does NOT use the Internet?

Accepted Answer

$$\frac{200}{2000}$$

Question 4

Which of the following is NOT a valid probability value?

Accepted Answer

-0.2

Question 5

If the probability of an event is 0.001, what does this imply about the event?

Accepted Answer

The event rarely occurs.

Question 6

In a roulette game, the probability of winning a bet on a single number is $$\frac{1}{38}. If $$the casino offers a payoff odds of 35 to 1, what is your net profit if you bet $10 and win?

Accepted Answer

$350

Question 7

Which approach to probability is used when you estimate the probability of rain tomorrow based on weather patterns and your own experience?

Accepted Answer

Subjective probability

Question 8

If the probability of event A is $$0.7$$, what is the probability of the complement of event A?

Accepted Answer

$$0.3$$

Question 9

A rare event is defined as one with a probability less than or equal to which of the following values?

Accepted Answer

$$0.05$$

Question 10

A simulation is most useful when:

Accepted Answer

It is difficult or impossible to use classical or relative frequency approaches.

Question 11

If the actual odds against an event are $$16:4$$, what are the actual odds in favor of the event?

Accepted Answer

$$4:16$$

Question 12

A medical test for a rare disease has a probability of 0.02 of giving a false positive. If 1000 healthy people are tested, what is the expected number of false positives?

Accepted Answer

$$20$$

Question 13

Which of the following statements about the law of large numbers is correct?

Accepted Answer

It states that as a procedure is repeated, the relative frequency probability approaches the actual probability.

Question 14

If you observe 366 'yes' responses and 1637 'no' responses in a survey, what is the probability of a randomly selected person responding 'yes'?

Accepted Answer

$$\frac{366}{2003}$$

Question 15

Which of the following best describes the sample space for flipping a coin three times?

Accepted Answer

All possible sequences of heads and tails for three flips.

Question 16

If the probability of an event is $$p$$, what is the probability that the event does NOT occur?

Accepted Answer

$$1 - p$$

Question 17

A lottery has 1,000,000 tickets and only one winning ticket. What are the actual odds against winning?

Accepted Answer

$$999,999:1$$

Question 18

Which of the following is an example of using the relative frequency approach to probability?

Accepted Answer

Counting the number of times a bus arrives late over 100 days and dividing by 100.

Question 19

If the probability of an event is 0, what does this mean?

Accepted Answer

The event is impossible.

Question 20

A casino game has actual odds against winning of $$37:1$$, but the payoff odds are $$35:1. $$What does this imply?

Accepted Answer

The casino makes a profit by paying less than the actual odds.

Chapter 4: Probability – Fundamental Concepts and Applications

Study Guide - Practice Questions

Study Guide - Flashcards