Question 1

Long-time friends,Pat and Tom,agree on many things,but not the outcome of the American League pennant race and the World Series.Pat is originally from Boston,and Tom is from New York.They have a steak dinner bet on next year's race,with Pat betting on the Red Sox and Tom on the Yankees.Both are convinced they will win.What probability assessment technique is being used by the two friends?
A)Subjective probability
B)Classical probability
C)Relative frequency probability
D)Independent probability

Accepted Answer

The friends are using their personal beliefs and biases to determine the likelihood of their respective teams winning. This is an example of subjective probability. Classical probability would involve determining the probability based on the number of possible outcomes and the favorable outcomes. Relative frequency probability would involve looking at past data to determine the likelihood of an event occurring. Independent probability would involve determining the likelihood of two independent events occurring together.

Question 2

The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap.A joint frequency table for the 100 golfers covered in the survey is shown below:  Based on these data,the probability of a golfer having a handicap less than 10 is:
A)0.52
B)0.10
C)0.34
D)None of the above

Accepted Answer

The answer of The managers of a local golf course...

Question 3

Of the last 100 customers entering a computer shop,25 have purchased a computer.If the classical probability assessment for computing probability is used,the probability that the next customer will purchase a computer is:
A)0.25
B)0.50
C)1.00
D)0.75

Accepted Answer

The answer of Of the last 100 customers entering a...

Question 4

Students who live on campus and purchase a meal plan are randomly assigned to one of three dining halls: the Commons,Northeast,and Frazier.What is the probability that the next student to purchase a meal plan will be assigned to the Commons?
A)0.66
B)0.5
C)0.25
D)0.33

Accepted Answer

Since there are three dining halls, each with an equal chance of being assigned to a student, the probability of being assigned to the Commons is 1/3 or 0.33. Therefore, the best choice is D.

Question 5

An inventory of appliances contains four white washers and one black washer.If a customer selects one at random,what is the probability that the black washer will be selected?
A)0.5
B)0.4
C)0.2
D)0.8

Accepted Answer

The total number of washers is 5 (4 white + 1 black). The probability of selecting the black washer is 1 out of 5, which is 0.2.

Question 6

The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap.A joint frequency table for the 100 golfers covered in the survey is shown below:  Based on these data,the probability of someone using a Strata ball and having a handicap under 2 is:
A)0.05
B)0.38
C)0.25
D)None of the above

Accepted Answer

The answer of The managers of a local golf course...

Question 7

What method of probability assessment would most likely be used to assess the probability that a customer will return a purchase for a refund?
A)Classical probability based on the ratio of the number of ways the event can occur
B)Relative frequency based on previous history
C)Subjective probability based on expert opinion
D)Independent probability based on two unrelated outcomes

Accepted Answer

The most relevant method of probability assessment for predicting whether a customer will return a purchase for a refund would be the relative frequency method, which is based on analyzing previous customer behavior and calculating the proportion of customers who have returned purchases for refunds in the past. This method would provide the most direct and concrete basis for assessing the likelihood of a similar future outcome.

Question 8

The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap.A joint frequency table for the 100 golfers covered in the survey is shown below:  If a player comes to the course using a Nike golf ball,the probability that he or she has a handicap of at least 10 is:
A)0.22
B)0.48
C)slightly greater than 0.45
D)0.10

Accepted Answer

The answer of The managers of a local golf course...

Question 9

The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap.A joint frequency table for the 100 golfers covered in the survey is shown below:  Based on these data,if a player has a handicap that is 10 or more,the probability that he or she will use a Nike golf ball is:
A)0.21
B)0.10
C)0.45
D)0.48

Accepted Answer

The answer of The managers of a local golf course...

Question 10

A special roulette wheel,which has an equal number of red and black spots,has come up red four times in a row.Assuming that the roulette wheel is fair,what concept allows a player to know that the probability the next spin of the wheel will come up black is 0.5?
A)Concept of independent events
B)Concept of mutually exclusive events
C)Concept of dependent events
D)Concept of mutually inclusive events

Accepted Answer

The concept of independent events allows a player to know that the probability of the next spin of the wheel coming up black is 0.5. This is because each spin of the roulette wheel is an independent event and the outcome of one spin does not affect the outcome of the next spin. Therefore, the probability of getting black on the next spin is the same as the probability of getting red, which is 0.5.

Question 11

The Anderson Lumber Company has three sawmills that produce boards of different lengths.The following table is a joint frequency distribution based on a random sample of 1,000 boards selected from the lumber inventory.  Based on these data,if a board is selected that is 12 feet long,the probability that it was made at sawmill A is:
A)0.08
B)0.41
C)0.24
D)0.20

Accepted Answer

The answer of The Anderson Lumber Company has three sawmills...

Question 12

In a survey,respondents were asked to indicate their favorite brand of cereal (Post or Kellogg's).They were allowed only one choice.What is the probability concept that implies it is not possible for a single respondent to state both Post and Kellogg's to be the favorite cereal?
A)Concept of independent events
B)Concept of mutually exclusive events
C)Concept of dependent events
D)Concept of mutually inclusive events

Accepted Answer

Mutually exclusive events refer to events that cannot occur at the same time. In this case, a respondent cannot have both Post and Kellogg's as their favorite cereal, therefore, these two choices are mutually exclusive.

Question 13

Harrison Water Sports has three retail outlets: Seattle,Portland,and Phoenix.The Seattle store does 50 percent of the total sales in a year,while the Portland store does 35 percent of the total sales.Further analysis indicates that of the sales in Seattle,20 percent are in boat accessories.The percentage of boat accessories at the Portland store is 30 and the percentage at the Phoenix store is 25.Overall,the probability that a sale by Harrison Water Sports will be for a boat accessory is:
A)0.105
B)0.2425
C)0.75
D)None of the above

Accepted Answer

Let Total Sales=$100
Sales in Seattle=$50 (50% of total)
Sales in Seattle for boat accessory=$10 (20% of Seattle sales)
Sales in Portland=$35 (35% of total)
Sales in Portland for boat accessory=$10.50 (30% of Portland sales)
Sales in Phoenix=$15 (15% of total)
Sales in Phoenix for boat accessory=$3.75 (25% of Phoenix sales)

Total Sales for boat accessory=$10+$10.50+$3.75=$24.25
Probability of a sale being for a boat accessory= Total Sales for boat accessory/Total Sales= 24.25/100=0.2425.

Question 14

The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap.A joint frequency table for the 100 golfers covered in the survey is shown below:  Based on these data,the probability that a player will use a Strata golf ball is:
A)0.15
B)0.20
C)0.18
D)None of the above

Accepted Answer

To find the probability that a player will use a Strata golf ball, we need to look at the row for Strata and add up the frequencies: 18+6+4+2=30. Then we divide by the total number of golfers surveyed: 100. So the probability is 30/100 or 0.30. The only answer choice that is close is B, which is 0.20. Therefore, B is the best choice.

Question 15

What method of probability assessment would most likely be used to assess the probability that a major earthquake will occur in California in the next three years?
A)Classical probability based on the ratio of the number of ways the event can occur
B)Relative frequency based on previous history
C)Subjective probability based on expert opinion
D)Independent probability based on two unrelated outcomes

Accepted Answer

The answer of What method of probability assessment would most...

Question 16

The results of a census of 2,500 employees of a mid-sized company with 401(k)retirement accounts are as follows:  Suppose researchers are going to sample employees from the company for further study.
Based on the relative frequency assessment method,what is the probability that a randomly selected employee will be a female?
A)0.1580
B)0.1040
C)0.6160
D)0.4040

Accepted Answer

The answer of The results of a census of 2,500...

Question 17

The Anderson Lumber Company has three sawmills that produce boards of different lengths.The following table is a joint frequency distribution based on a random sample of 1000 boards selected from the lumber inventory.  Based on these data,if three boards are selected at random,the probability that all three were made at sawmill A is:
A)0.037
B)0.334
C)1.00
D)0.556

Accepted Answer

To find the probability that all three boards were made at sawmill A, we need to use the joint frequencies for Sawmill A where both the length and width are within the specified ranges for each of the three boards.

From the table, we see that there are 99 boards that meet these criteria for the first board, 88 boards for the second board (since one was already selected), and 77 boards for the third board (since two were already selected). Therefore, the probability of selecting three boards that were all made at sawmill A is:

(99/1000) * (88/999) * (77/998) ≈ 0.037.

Therefore, the best choice is A).

Question 18

The Anderson Lumber Company has three sawmills that produce boards of different lengths.The following table is a joint frequency distribution based on a random sample of 1,000 boards selected from the lumber inventory.  Based on these data,the probability of selecting a board from inventory that is 10 feet long is:
A)0.196
B)0.450
C)0.084
D)0.170

Accepted Answer

The answer of The Anderson Lumber Company has three sawmills...

Question 19

If two events are independent,then
A)they must be mutually exclusive.
B)the sum of their probabilities must be equal to one.
C)their intersection must be zero.
D)None of the above

Accepted Answer

Two independent events are not necessarily mutually exclusive, their probabilities do not have to sum to one, and their intersection is not necessarily zero. Independence means the occurrence of one event does not affect the probability of the other.

Question 20

Harrison Water Sports has three retail outlets: Seattle,Portland,and Phoenix.The Seattle store does 50 percent of the total sales in a year,while the Portland store does 35 percent of the total sales.Further analysis indicates that of the sales in Seattle,20 percent are in boat accessories.The percentage of boat accessories at the Portland store is 30 and the percentage at the Phoenix store is 25.If a sales dollar is recorded as a boat accessory,the probability that the sale was made at the Portland store is:
A)slightly greater than 0.43
B)0.35
C)0.2425
D)None of the above

Accepted Answer

To find the probability that a sale was made at the Portland store given that it was a boat accessory sale, we use the formula for conditional probability. First, calculate the total percentage of sales that are boat accessories across all stores. For Seattle: $50\% \times 20\% = 10\%$, for Portland: $35\% \times 30\% = 10.5\%$, and for Phoenix (which must do 15% of the total sales since Seattle does 50% and Portland does 35%, leaving 15% for Phoenix): $15\% \times 25\% = 3.75\%$. The total percentage of sales that are boat accessories is $10\% + 10.5\% + 3.75\% = 24.25\%$. The probability that a boat accessory sale was made at the Portland store is the percentage of boat accessory sales from Portland divided by the total percentage of boat accessory sales, which is $10.5\% / 24.25\% \approx 0.433$, or slightly greater than 0.43.

Quiz 4: Introduction to Probability

The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap.A joint frequency table for the 100 golfers covered in the survey is shown below: Based on these data,the probability of a golfer having a handicap less than 10 is:

Of the last 100 customers entering a computer shop,25 have purchased a computer.If the classical probability assessment for computing probability is used,the probability that the next customer will purchase a computer is:

Students who live on campus and purchase a meal plan are randomly assigned to one of three dining halls: the Commons,Northeast,and Frazier.What is the probability that the next student to purchase a meal plan will be assigned to the Commons?

An inventory of appliances contains four white washers and one black washer.If a customer selects one at random,what is the probability that the black washer will be selected?

What method of probability assessment would most likely be used to assess the probability that a customer will return a purchase for a refund?

A special roulette wheel,which has an equal number of red and black spots,has come up red four times in a row.Assuming that the roulette wheel is fair,what concept allows a player to know that the probability the next spin of the wheel will come up black is 0.5?

In a survey,respondents were asked to indicate their favorite brand of cereal (Post or Kellogg's) .They were allowed only one choice.What is the probability concept that implies it is not possible for a single respondent to state both Post and Kellogg's to be the favorite cereal?

The managers of a local golf course have recently conducted a study of the types of golf balls used by golfers based on handicap.A joint frequency table for the 100 golfers covered in the survey is shown below: Based on these data,the probability that a player will use a Strata golf ball is:

What method of probability assessment would most likely be used to assess the probability that a major earthquake will occur in California in the next three years?

If two events are independent,then