DOC PREVIEW
UB COM 101 - FINAL Review Key

This preview shows page 1-2 out of 7 pages.

Save
View full document
View full document
Premium Document
Do you want full access? Go Premium and unlock all 7 pages.
Access to all documents
Download any document
Ad free experience
View full document
Premium Document
Do you want full access? Go Premium and unlock all 7 pages.
Access to all documents
Download any document
Ad free experience
Premium Document
Do you want full access? Go Premium and unlock all 7 pages.
Access to all documents
Download any document
Ad free experience

Unformatted text preview:

REVIEW FINAL EXAM MGQ201VERSION ONE1. Determine the required value of the missing probability to make the distribution a discrete probability distribution:x P(x)3 .284 ?5 .346 .15A. 0.23B. 0.67C. 0.01D. 0.32For questions 2 and 3, consider the discrete probability distribution below. Outcome Probability1 0.342 0.173 0.224 0.272. Compute the mean of the distribution (round to two decimal places)A. 2.00B. 3.42C. 2.5D. 2.423. Compute the standard deviation of the distribution (round to three decimal places)A. 1.210B. 2.110C. 1.496D. 2.599For questions 4 – 7, consider the following information. A bread distributor wants you to recommend how many loaves of multigrain bread to make each morning by 11AM. Each loaf costs the distributor $4.00 and can be sold for $7.00, and leftover loaves are donated to the local shelter. Demands for the loaves of 25, 50, and 75 are 30%, 20%, and 50%, respectively. 4. What is the expected monetary value when baking 25 loaves?A. $50B. $75C. $90D. $97.55. What is the expected monetary value when baking 50 loaves?A. $50B. $75C. $90D. $97.56. What is the expected monetary value when baking 75 loaves?A. $50B. $65C. $85D. $97.57. How many loaves would you recommend that the baker makes each morning?A. 0 batchesB. 25 batchesC. 50 batchesD. 75 batchesFor questions 8 – 10, consider the following information. There is a binomial distribution where p = 0.6 and n = 6.8. What is the probability that x equals 2?A. P(x=2) = 0.1382B. P(x=2) = 0.8618C. P(x=2) = 0.0041D. P(x=3) = 0.99599. What is the probability that x is less than or equal to 1? Round to 4 decimal places.A. P(x ≤ 1) = 0.0300B. P(x ≤ 1) = 0.0410C. P(x ≥ 1) = 0.9590D. P(x ≥ 1) = 0.245610. What is the probability that x is greater than 4? Round to 4 decimal places.A. P(x > 4)=0.2333B. P(x > 4) =0.5443C. P(x ≥ 4)=0.2765D. P(x ≥ 4)=0.7667For questions 11 – 13, consider the following information. There is an exponential probability distribution that has a mean equal to 8 minutes per customer. 11. What is the probability that x is greater than 16?A. P(x < 16) = .0032B. P(x > 16) = 0.8647C. P(x > 16) = 0.1353D. P(x ≥ 16) = 0.135312. What is the probability that x is greater than 5?A. P(x < 5) = 0.5353B. P(x > 5) = 0.5353C. P(x > 5) = 0.1353D. P(x ≥ 5) = 0.135313. What is the probability that x is between 8 and 20 (inclusive)?A. P(8 ≤ x ≤ 20) = 0.1353B. P(8 ≤ x ≤ 20) = 0.2858C. P(8 ≤ x ≤ 20) = 0.3445D. P(8 ≥ x ≥ 20) = 0.285814. An urn contains eight green balls and nine yellow balls. If three balls are selected without being replaced, what is the probability that of the balls selected, two of them will be green and one of them will be yellow? Round to 4 decimal places.A. P(x = 2 green) = 0.6294B. P(x = 2 green) = 0.3706C. P(x = 1 yellow) = 0.6221D. P(x = 1 yellow) = 0.3779For questions 15 – 17, consider a Poisson distribution and find the probability of exactly 6 occurrences under the following conditions:15. When  = 3.0, find P(x = 6)A. 0.0504B. 0.9496C. 0.0000D. 0.449616. When  = 4.0, find P(x = 6)A. 0.8958B. 0.0000C. 0.1042D. 0.059517. When  = 5.0, find P(x = 6)A. 0.1462B. 0.1755C. 0.0000D. 0.1044For questions 18 – 20, consider a binomial probability distribution with p = 0.2 in order to calculatethe following probabilities:18. The probability of exactly four successes when n = 5A. P(4) = 0.0000B. P(5) = 0.9936C. P(4) = 0.0029D. P(4) = 0.006419. The probability of exactly four successes when n = 8A. P(8) = 0.0000B. P(4) = 0.0459C. P(4) = 0.0865D. P(4) = 0.954120. The probability of exactly four successes when n = 10A. P(4) = .9119B. P(4) = 0.000C. P(4) = 0.0459D. P(4) = 0.0881For questions 21 – 24, consider a binomial distribution that has p = 0.79 and n = 199.21. What is the mean of the distribution? (Round to two decimal places).A. 9.30B. 157.21C. 30.26D. 32.089222. What is the standard deviation for this distribution? (Round to two decimal places).A. 9.30B. 6.50C. 7.29D. 5.7523. What is the probability of exactly 171 successes?A. 0.0067B. 0.0192C. 0.0040D. 0.000024. What is the probability of less than 174 successes? A. 0.9977B. 0.9887C. 0.0023D. 0.0223For questions 25 – 27, consider the following information. Assume that the cost of an extended warranty for a 150,000 miles follows a normal distribution with a mean of $1950 and a standard deviation of $80. 25. The interval of warranty costs that are one standard deviation around the mean range from______________ to _______________. A. $1880; $1990B. $1850; $1400C. $2500; $3700D. $1870; $203026. The interval of warranty costs that are three standard deviations around the mean range from____________ to ___________________. A. $1710; $2190B. $1700; $2100C. $1790; $2110D. $1870; $203027. A company is trying to sell an extended 100,000 mile warranty for $3100. Based on the information derived in questions 25-26, what conclusion would you make about purchasing the warranty?A. This warranty is a good bargain because it is more than three standard deviations above the mean.B. This warranty is much higher than the average because it is over three standard deviationsabove the mean.C. This warranty is a good bargain because it is only slightly higher than average.D. This warranty is a little higher than the median because it is within three standard deviationsof the mean.28. Consider a hypergeometric probability distribution with n = 6, R = 7, and N = 17. Calculate P(x≤1)A. P(x≤1) = 0.1595B. P(x≤1) = 0.8405C. P(x≤1) = 0.3351D. There is insufficient information to answer the question29. Consider a hypergeometric probability distribution with R = 8, and N = 19. Calculate P(x≤1)A. P(x≤1) = 0.1595B. P(x≤1) = 0.8405C. P(x≤1) = 0.3351D. There is insufficient information to answer the questionFor questions 29 – 30, consider a standard normal distribution. 30. Find P(z≤1.53)A. P(z≤1.53)= 0.0630B. P(z≤1.53)= 0.9370C. P(z≤1.53)= 0D. There is insufficient information to answer the question31. Find P(-0.86 ≤ z ≤ 1.77)A. P(-0.86 ≤ z ≤ 1.77) = 0.7667B. P(-0.86 ≤ z ≤ 1.77) = 0.2340C. P(-0.86 ≤ z ≤ 1.77) = 0.5000D. P(-0.86 ≤ z ≤ 1.77) = 0.322632. An exponential probability distribution has a mean equal to 9 minutes per customer. What is the probability that x > 7? A. P(x > 7) = 0.1211B. P(x > 7) = 1C. P(x > 7) = 0.4594D. P(x > 7) = 0.540633. A random variable follows the continuous uniform distribution between 15 and 45. Calculate theprobability that P(x ≤ 25)A. P(x ≤ 25)


View Full Document

UB COM 101 - FINAL Review Key

Documents in this Course
Load more
Download FINAL Review Key
Our administrator received your request to download this document. We will send you the file to your email shortly.
Loading Unlocking...
Login

Join to view FINAL Review Key and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view FINAL Review Key 2 2 and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?