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STAT 211 QUIZ #3, V01 (061) Write true or False to the each of the ...

STAT 211 QUIZ #3, V01 (061) Write true or False to the each of the ...

STAT 211 QUIZ #3, V01 (061) Write true or False to the each of the ...

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<strong>STAT</strong> <strong>211</strong> <strong>QUIZ</strong> <strong>#3</strong>, <strong>V01</strong> (<strong>061</strong>)Student Name:__________________________ID# ______________Section_________ (Duration 25 min).<strong>Write</strong> <strong>true</strong> <strong>or</strong> <strong>False</strong> <strong>to</strong> <strong>the</strong> <strong>each</strong> <strong>of</strong> <strong>the</strong> following statements:(2 mark <strong>each</strong>)1. When an experiment is perf<strong>or</strong>med, in probability terms, <strong>the</strong> outcomes <strong>of</strong> <strong>the</strong> experimentwill take on values between 0 and 1.0.Answer:2. One <strong>of</strong> <strong>the</strong> difficulties in using <strong>the</strong> relative frequency <strong>of</strong> occurrence method f<strong>or</strong> assessingprobabilities in business situations is getting a large enough set <strong>of</strong> examples that match <strong>the</strong>one in question.Answer:3. The following probability distribution was subjectively assessed f<strong>or</strong> <strong>the</strong> number <strong>of</strong> sales asalesperson would make if <strong>the</strong>y made five sales calls in one day.Sales Probability0 0.101 0.152 0.203 0.304 0.205 0.05Given this distribution, <strong>the</strong> probability that <strong>the</strong> number <strong>of</strong> sales is less than 2 is 0.15.Answer:4. When a cus<strong>to</strong>mer comes <strong>to</strong> a bank, <strong>the</strong>re are three primary locations <strong>the</strong>y may select <strong>to</strong> go<strong>to</strong>: teller, loan <strong>of</strong>ficer, <strong>or</strong> escrow department. Based on past experience, <strong>the</strong> followingprobability distribution applies:Location ProbabilityTeller 0 .60Loan Officer 0 .30Escrow 0.10Seventy percent <strong>of</strong> cus<strong>to</strong>mers are males. The probability that <strong>the</strong> next cus<strong>to</strong>mer will be maleand will go <strong>to</strong> ei<strong>the</strong>r <strong>the</strong> teller <strong>or</strong> <strong>the</strong> escrow department is 0.49.Answer:Circle <strong>the</strong> c<strong>or</strong>rect answer from <strong>the</strong> following:5. A sales rep f<strong>or</strong> a national clothing company makes 4 calls per day. Based on hist<strong>or</strong>icalrec<strong>or</strong>ds, <strong>the</strong> following probability distribution describes <strong>the</strong> number <strong>of</strong> successful calls <strong>each</strong>day: Successful Calls Probability0 0.101 0.302 0.303 0.204 0.10Based on this inf<strong>or</strong>mation, <strong>the</strong> probability that <strong>the</strong> sales rep will have two successful calls in atwo-day period is:a. 0.60. b. 0.09. c. 0.15. d. 0.01


<strong>STAT</strong> <strong>211</strong> <strong>QUIZ</strong> <strong>#3</strong>, V02 (<strong>061</strong>)Student Name:__________________________ID# ______________Section_________(Duration 25 min).<strong>Write</strong> <strong>true</strong> <strong>or</strong> <strong>False</strong> <strong>to</strong> <strong>the</strong> <strong>each</strong> <strong>of</strong> <strong>the</strong> following statements:(2 mark <strong>each</strong>)1. If a company has <strong>the</strong> opp<strong>or</strong>tunity <strong>to</strong> bid on three contracts, A, B, and C, <strong>the</strong> sample spacef<strong>or</strong> <strong>the</strong> contracts that are awarded <strong>to</strong> <strong>the</strong> company is {A, B, C}.Answer:2. If two events are independent, <strong>the</strong>n by definition <strong>the</strong>y must also be mutually exclusive.Answer:3. The following probability distribution was subjectively assessed f<strong>or</strong> <strong>the</strong> number <strong>of</strong> sales asalesperson would make if <strong>the</strong>y made five sales calls in one day.Sales Probability0 0.101 0.152 0.203 0.304 0.205 0.05Given this distribution, <strong>the</strong> probability that <strong>the</strong> number <strong>of</strong> sales is 2 <strong>or</strong> 3 is 0.50.Answer:4. When a cus<strong>to</strong>mer comes <strong>to</strong> a bank, <strong>the</strong>re are three primary locations <strong>the</strong>y may select<strong>to</strong> go <strong>to</strong>: teller, loan <strong>of</strong>ficer, <strong>or</strong> escrow department. Based on past experience, <strong>the</strong>following probability distribution applies:Location ProbabilityTeller 0 .60Loan Officer 0 .30Escrow 0.10Seventy percent <strong>of</strong> cus<strong>to</strong>mers are males. The probability that three consecutive cus<strong>to</strong>mers allgo <strong>to</strong> a teller is approximately 0.22.Answer:Circle <strong>the</strong> c<strong>or</strong>rect answer from <strong>the</strong> following:5. A sales rep f<strong>or</strong> a national clothing company makes 4 calls per day. Based on hist<strong>or</strong>icalrec<strong>or</strong>ds, <strong>the</strong> following probability distribution describes <strong>the</strong> number <strong>of</strong> successful calls <strong>each</strong>day: Successful Calls Probability0 0.101 0.302 0.303 0.204 0.10The expected number <strong>of</strong> successful sales calls per day is:a. 2. b. 1.15. c. 1.90. d. None <strong>of</strong> <strong>the</strong> above.2

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