Business Finance Homework Help

4 PointsDiscrete variables have values that can be measured.

1. True
2. False

4 PointsContinuous random variables are obtained from data that can be measured rather than counted.

1. True
2. False

4 PointsA(n) __________ variable is one in which values are determined by chance.Blank 1

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4 PointsThe sum of the probabilities of all the events in the sample space of a probability distribution must equal 1.

1. True
2. False

4 PointsThe following distribution is not a probability distribution because X21012P(X)0.080.210.430.170.26

1. the values of the variable are negative.
2. the probability values are not increasing.
3. the probability values do not add to 1.
4. the probability values are not discrete.

4 PointsA(n) __________ probability distribution consists of the finite number of values a random variable can assume and the corresponding probabilities of the values.Blank 1

• Blank 1

4 PointsThe following distribution is not a probability distribution because X21012P(X)0.160.20–0.120.450.31

1. values of the variable are negative.
2. a probability is negative.
3. the probability values do not add to 1.
4. the probability values are not discrete.

4 PointsFind the mean of the distribution shown.X46P(X)0.360.64

1. 1.64
2. 4.00
3. 5.28
4. 6.00

4 PointsThe number of cartoons watched on Saturday mornings by students in Mrs. Kelly’s first grade class is shown below. Number of cartoons watched X012345Probability P(X)0.150.200.300.100.200.05
What is the mean of the data?

1. 1.37
2. 2.15
3. 1.89
4. 1.18

4 PointsGive the variance of the following distribution? X01234P(X)0.200.350.100.250.10

1. 1.83
2. 1.31
3. 1.25
4. 1.71

4 PointsWhat is the standard deviation of the following probability distribution? X02468P(X)0.200.050.350.250.15

1. 2.6
2. 4.7
3. 5.4
4. 3.9

4 PointsFind the mean of the distribution shown.X12P(X)0.320.68

1. 0.50
2. 1.50
3. 1.17
4. 1.68

4 PointsFind the mean of the distribution shown below. X234P(X)0.350.240.41

1. 1.56
2. 2.06
3. 2.56
4. 3.06

4 PointsIn binomial experiments, each trial can be viewed as having only two outcomes.

1. True
2. False

4 PointsThe probability of a success remains the same for each trial in a binomial experiment.

1. True
2. False

4 PointsA jewelry supplier has a supply of earrings which are 40% platinum. A store owner orders five sets of earrings from the supplier. If the supplier selects the pairs of earrings at random, what is the chance that the jewelry store gets exactly two sets of platinum pairs?

1. 0.4320
2. 0.2880
3. 0.3456
4. 0.1920

4 PointsIf a student randomly guesses at 20 multiple-choice questions, find the probability that the student gets exactly four correct. Each question has four possible choices.

1. 0.190
2. 0.162
3. 0.085
4. 0.218

4 PointsA surgical technique is performed on eight patients. You are told there is 70% chance of success. Find the probability that the surgery is successful for exactly 6 patients.

1. 0.296
2. 0.318
3. 0.279
4. 0.700

4 PointsA surgical technique is performed on twelve patients. You are told there is 70% chance of success. Find the probability that the surgery is successful for exactly 9 patients.

1. 0.296
2. 0.240
3. 0.750
4. 0.700

4 PointsA surgical technique is performed on nine patients. You are told there is 80% chance of success. Find the probability that the surgery is successful for at least 8 patients

1. 0.889
2. 0.552
3. 0.368
4. 0.436

4 PointsA surgical technique is performed on ten patients. You are told there is 85% chance of success. Find the probability that the surgery is successful for at least 8 patients

1. 0.800
2. 0.347
3. 0.197
4. 0.820

4 PointsIf a student randomly guesses at 12 multiple-choice questions, find the probability that the student gets exactly seven correct. Each question has five possible choices.

1. 0.583
2. 0.059
3. 0.714
4. 0.003

4 PointsIf a student randomly guesses at 10 multiple-choice questions, find the probability that the student gets exactly five correct. Each question has four possible choices.

1. 0.058
2. 0.500
3. 0.266
4. 0.150

4 PointsFind the mean and the standard deviation of a Binomial Distribution with n= 316 and p= 0.72

1. Mean = 164.5; Stand. Deviation= 10.1
2. Mean = 227.5; Stand. Deviation= 8.0
3. Mean = 262.8; Stand. Deviation= 10.6
4. Mean = 254.4; Stand. Deviation= 9.9

4 PointsFind the mean and the standard deviation of a Binomial Distribution with n= 80 and p= 0.3

1. Mean = 24; Stand. Deviation= 4.1
2. Mean = 34; Stand. Deviation= 6.2
3. Mean = 28; Stand. Deviation= 6.6
4. Mean = 10; Stand. Deviation= 7.3