Quiz - 1 - XLRI - BMD - 22-24

8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
Quiz_1 _XLRI_BMD_22-24
The likelihood that someone who logs onto a particular site in a "shopping
mall" on the Internet will purchase an item is 0.05 and follows the binomial
distribution. If the site has 35 people accessing it in the next hour, what is
the expected number of successes during this hour? * (1 Point)
1.75
2.5
0.05
12
35
A market research firm conducts studies regarding the success of new

products. The company is not always perfect in predicting the success.
Suppose that there is a 50% chance that any new product would be
successful (and a 50% chance that it would fail). In the past, for all new
products that ultimately were successful, 80% were predicted to be
successful (and the other 20% were inaccurately predicted to be failures).
Also, for all new products that were ultimately failures, 70% were predicted
to be failures (and the other 30% were inaccurately predicted to be
successes). If the market research predicted that the product would be a
success, what is the probability that it would actually be a success? * (1 Point)
0.27
0.73
https://forms.office.com/pages/responsepage.aspx?id=nZvnx-nsM0GHQ7bK0mxXT6er7Tq7aANKgl5IWXrLFLNUODQ2OVdTWUo4V1FBQ1dK… 1/22
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
0.80
0.24
1.00
A box of 8 marbles has 4 red, 2 green, and 2 blue marbles. If you select one
marble, what is the probability that it is a red or blue marble. * (1 Point)
0.6
0.76
6.00
0.80
Meagan Dubean manages a portfolio of 200 common stocks. Her staff

classified the portfolio stocks by 'industry sector' and
'investment objective.' Which of the following statements is true? * (1 Point)
Growth and Healthcare are complementary events.
Electronics and Growth are independent.
Electronics and Growth are mutually exclusive.
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
Airlines and Healthcare are collectively exhaustive.
Electronics and Healthcare are collectively exhaustive.
Jessica Salas, president of Salas Products, is reviewing the warranty policy for
her company's new model of automobile batteries. Life tests performed on a
sample of 100 batteries indicated: (1) an average life of 75 months, (2) a
standard deviation of 5 months, and (3) a bell-shaped battery life
distribution. What percentage of the batteries will fail within the first 65
months of use? * (1 Point)
0.5%
1%
2.5%
5%
7.5%
Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects

irregularities in the payroll system, and orders an inspection of a random
sample of vouchers issued since January 1, 2006. A sample of ten vouchers is
randomly selected, without replacement, from the population of 2,000
vouchers. Each voucher in the sample is examined for errors and the number
of vouchers in the sample with errors is denoted by x. If 20% of the
population of vouchers contain errors, P(x = 0) is _______________. * (1 Point)
0.8171
0.1074
0.8926
0.3020
0.2000
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
You are offered an investment opportunity. Its outcomes and probabilities

are presented in the following table.
x : -$1,000, $0, +$1,000
P(x) : 0.40, 0.20, 0.40
The mean of this distribution is _____________. * (1 Point)
-$400
-$0
$200
$400
$500
According to the U.S. Census Bureau, approximately 6% of all workers in

Jackson, Mississippi, are unemployed. In conducting a random telephone
survey in Jackson, what is the probability of getting two or fewer
unemployed workers in a sample of 20? * (1 Point)
0.6896
0.8850
0.4567
0.7431
The table below provides summary information about students in a class.

The sex of each individual and the major is given. If a student is randomly
selected from this group, what is the probability that the student is male? *
(1 Point)
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
0.12
0.48
0.50
0.52
0.68
10
Which of the following would indicate that a dataset is not bell-shaped? *

(1 Point)
The range is equal to 5 standard deviations.
The range is larger than the interquartile range.
The mean is much smaller than the median.
There are no outliers.
11
Student Section *
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
12
Which of the following statements are true? * (1 Point)
For the Poisson distribution = 3.2, the mean and standard deviation are both equal to 3.2.
For the Poisson distribution = 3.2, the mean and variance are both equal to 3.2.
For the Poisson distribution = 3.2, the mean is 3.2 and the standard deviation is 1.79.
Both B and C are correct.
All of these are correct.
13
In recent months, airline passengers have expressed much more

dissatisfaction with airline service than ever before. Complaints include flight
delays, lost baggage, long runway delays with little or no onboard service,
overbooked flights, cramped space due to fuller flights, canceled flights, and
grumpy airline employees. A majority of dissatisfied fliers merely grin and
bear it. However, an increasing number of passengers log complaints with
the U.S. Department of Transportation. In the mid-1990s, the average
number of complaints per 100,000 passengers boarded was .66. In ensuing
years, the average rose to .74, .86, 1.08, and 1.21.
In a recent year, according to the Department of Transportation, Southwest
Airlines had the fewest average number of complaints per 100,000 with .27,
followed by ExpressJet Airlines with .44, Alaska Airlines with .50, SkyWest
Airlines with .53, and Frontier Airlines with .82. Within the top 10 largest U.S.
airlines, U.S. Airways had the highest average number of complaints logged
against it 2.11 complaints per 100,000 passengers. Because these average
numbers are relatively small, it appears that the actual number of complaints
per 100,000 is rare and may follow a Poisson distribution. In this case,
Lemda represents the average number of complaints and the interval is
100,000 passengers. For example, using Lemda = 1.21 complaints (average
for all airlines), if 100,000 boarded passengers were contacted, the
probability that exactly three of them logged a complaint to the Department
of Transportation is;
* (1 Point)
0.0880
0.0440
0.0330
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
0.0220
14
Which one of these statistics is unaffected by outliers? * (1 Point)
Mean
Interquartile range
Standard deviation
Range
15
Let A be the event that a student is enrolled in an accounting course, and let
S be the event that a student is enrolled in a statistics course. It is known that
30% of all students are enrolled in an accounting course and 40% of all
students are enrolled in statistics. Included in these numbers are 15% who
are enrolled in both statistics and accounting. A student is randomly
selected, what is the probability that the student is enrolled in either
accounting or statistics or both? * (1 Point)
0.15
0.85
0.70
0.55
0.90
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
16
A fast food hamburger restaurant manager is interviewing high school

persons age sixteen for possible employment. Persons age sixteen who apply
for jobs in the area have no prior work-for-pay experience ninety percent of
the time. Let x be the number of the four high school persons age sixteen
who have no prior work-for-pay experience. If the manager plans to hire
four, what is the probability that two of the four will have work experience? *
(1 Point)
0.0486
0.486
0.684
0.0684
17
What is the standard deviation of a binomial distribution where n = 16 and p

= 0.20? * (1 Point)
1.6
2.56
6.55
18
Max Sandlin is exploring the characteristics of stock market investors. He

found that sixty percent of all investors have a net worth exceeding
$1,000,000; 20% of all investors use an online brokerage; and 10% of all
investors a have net worth exceeding $1,000,000 and use an online
brokerage. An investor is selected randomly, and E is the event "net worth
exceeds $1, 000, 000," and O is the event "uses an online brokerage." P(O|E)
= _____________. * (1 Point)
0.17
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
0.50
0.80
0.70
0.88
19
Name of the Candidate *
Mayank Jindal
20
Jessica Salas, president of Salas Products, is reviewing the warranty policy for
her company's new model of automobile batteries. Life tests performed on a
sample of 100 batteries indicated: (1) an average life of 75 months, (2) a
standard deviation of 5 months, and (3) a bell shaped battery life
distribution. Approximately 95% of the batteries will last between
________________. * (1 Point)
70 and 80 months
60 and 90 months
65 and 85 months
55 and 95 months
60 and 100 months
21
The table below gives the probabilities of combinations of religion and

political parties in a major U.S. city. Which of the following represents two
mutually exclusive events? Which of the following represents two mutually
exclusive events? * (1 Point)
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
A and D
A and E
A and F
A and G
All of these are mutually exclusive
22
An analysis of personal loans at a local bank revealed the following facts:

10% of all personal loans are in default (D), 90% of all personal loans are not
in default (D΄), 20% of those in default are homeowners (H | D), and 70% of
those not in default are homeowners (H | D΄). If a personal loan is selected at
random, P (D | H) = ___________. * (1 Point)
0.03
0.63
0.02
0.18
0.78
23
A large industrial firm allows a discount on any invoice that is paid within 30
days. Of all invoices, 10% receive the discount. In a company audit, 10
invoices are sampled at random. The probability that fewer than 3 of the 10
sampled invoices receive the discount is approximately_______________. *
(1 Point)
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
0.1937
0.057
0.001
0.3486
0.9298
24
It is known that screws produced by a certain company will be defective with

probability .01 independently of each other. The company sells the screws in
packages of 25 and offers a money-back guarantee that at most 1 of the 25
screws is defective. Using Poisson approximation for binomial distribution,
the probability that the company must replace a package is approximately
_________ * (1 Point)
0.01
0.1947
0.7788
0.0264
0.2211
25
If the probability of drawing an Ace from a deck of cards is 0.077 and the
probability of rolling a “2” using a fair die is 0.167, then the probability of
drawing an Ace and rolling a “2” is * (1 Point)
0.244
0.090
0.454
0.013
0.333
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
26
If a real estate office sells 1.6 houses on an average weekday and sales of
houses on week days are Poisson distributed. What is the probability of
selling exactly 4 houses in two days? * (1 Point)
0.0551
0.2019
0.0002
0.1781
27
In a set of 15 aluminum castings, two castings are defective (D), and the
remaining thirteen are good (G). A quality control inspector randomly selects
three of the fifteen castings without replacement, and classifies each as
defective (D) or good (G). The sample space for this experiment contains
____________ elementary events. * (1 Point)
3375
2730
455
15
28
It is known that 20% of all students in some large university are overweight,
20% exercise regularly and 2% are overweight and exercise regularly. What is
the probability that a randomly selected student is overweight given that this
student exercises regularly? * (1 Point)
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
0.40
0.38
0.20
0.42
0.10
29
Suppose you could take all samples of size 64 from a population with a
mean of 12 and a standard deviation of 3.2. What would be the standard
deviation of the sample means? * (1 Point)
3.2
0.2
0.4
0.3
1.6
30
Dorothy Little purchased a mailing list of 2,000 names and addresses for her
mail order business, but after scanning the list she doubts its authenticity of
the list. She randomly selects five names from the list for validation. If 40% of
the names on the list are non-authentic, and x is the number on non-
authentic names in her sample, the expected (average) value of x is
______________. * (1 Point)
2.50
2.00
1.50
1.25
1.35
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
31
A market research firm conducts studies regarding the success of new

products. The company is not always perfect in predicting success. Suppose
that there is a 50% chance that any new product would be successful (and a
50% chance that it would fail). In the past, for all new products that
ultimately were successful, 80% were predicted to be successful (and the
other 20% were inaccurately predicted to be failures). Also, for all new
products that were ultimately failures, 70% were predicted to be failures (and
the other 30% were inaccurately predicted to be successes). For any
randomly selected new product, what is the probability that the market
research firm would predict that it would be a success? * (1 Point)
0.80
0.50
0.45
0.55
0.95
32
Suppose that at the 95% confidence level we calculate a confidence interval

described by 43.8 < µ < 46.2. Which of the following statements can not be
made about this result. * (1 Point)
The sample mean is 45
The population mean is 45.
The margin of error is 1.2.
We are 95% confident that the population mean lies between 43.8 and 46.2.
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
33
Belinda Bose is reviewing a newly proposed advertising campaign. Based on

her 15 years experience, she believes the campaign has a 75% chance of
significantly increasing brand name recognition of the product. This is an
example of assigning probabilities using the ________________ method. *
(1 Point)
subjective probability
relative frequency
classical probability
a priori probability
a posterior probability
34
A market research firm is investigating the appeal of three package designs.

The table below gives information obtained through a sample of 200
consumers. The three package designs are labelled A, B, and C. The
consumers are classified according to age and package design
preference. Are “B” and “25 or older” independent and why or why not? *
(1 Point)
No, because P (25 or over | B) ≠ P (B)
Yes, because P (B) = P(C)
No, because P (25 or older | B) ≠ P (25 or older)
Yes, because P (25 or older ∩ B) ≠ 0
No, because age and package design are different things
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
35
In American Roulette, there are two zeroes and 36 non-zero numbers (18 red
and 18 black). If a player bets 1 unit on red, his chance of winning 1 unit is
therefore 18/38 and his chance of losing 1 unit (or winning -1) is 20/38. Let x
be the player profit per game. The mean (average) value of x is
approximately_______________. * (1 Point)
0.0526
-0.0526
-1
36
A sample was taken of the salaries of four employees from a large company.
The following are their salaries (in thousands of dollars) for this year: 33, 40,
25, and 45. The variance of their salaries is approximately * (1 Point)
56.69
75.59
227.75
35.75
8.7
37
US Air has a flight to New York for $160 and United Airlines has a flight to
New York for $200. Which
statement is true? * (1 Point)
The cost of the United flight is 25% more than US Air.
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
The cost of the US Air flight is 80% less than the United flight.
The cost of the United flight is 120% more than the US Air flight.
The cost of the US Air flight is 25% less than United.
The cost of the United flight is 20% more than US Air.
38
Suppose 5% of the population have a certain disease. A laboratory blood

test gives a positive reading for 95% of people who have the disease and
10% positive reading of people who do not have the disease. . What is the
probability that a randomly selected person has the disease given that this
person is testing positive? * (1 Point)
0.0475
0.1425
0.95
0.9
0.3333
39
Student email ID *
bd22024@astra.xlri.ac.in
40
Which of the following is NOT required of a binomial distribution * (1 Point)
Each trial has exactly two outcomes
There is a fixed number of trials.
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
The probability of success remains fixed for all trials.
There are more than 30 trials.
41
Twenty-five items are randomly selected from a batch of 1000 items. Each of
these items has the same probability of being defective. The probability that
exactly 2 of the 25 are defective could best be found by _______. * (1 Point)
using the normal distribution
using the binomial distribution
using the Poisson distribution
using the exponential distribution
using the uniform distribution
42
Let A be the event that a student is enrolled in an accounting course, and let
S be the event that a student is enrolled in a statistics course. It is known that
30% of all students are enrolled in an accounting course and 40% of all
students are enrolled in statistics. Included in these numbers are 15% who
are enrolled in both statistics and accounting. A student is randomly
selected, and it is found that the student is enrolled in accounting. What is
the probability that this student is also enrolled in statistics? * (1 Point)
0.15
0.75
0.375
0.50
0.80
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
43
In a certain communications system, there is an average of 1 transmission

error per 10 seconds. Assume that the distribution of transmission errors is
Poisson. The probability of 1 error in a period of one-half minute is
approximately ________ * (1 Point)
0.1493
0.3333
0.3678
0.1336
0.03
44
A sample of 117 records of the selling price in dollars of homes from Feb 15
to Apr 30, 1993 was taken from the files maintained by the Albuquerque
Board of Realtors. The following are summary statistics for the selling
prices. From this we can conclude that, * (1 Point)
There are no outliers
More homes were sold for greater than $121750 than for less than $77650
68% of the selling price of homes is from $77650 to $121750
25% of the selling price of homes is at least $121750
The distribution of selling price of homes is negatively skewed
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
45
You are offered an investment opportunity. Its outcomes and probabilities

are presented in the following table.
x : -$1,000, $0, +$1,000
P(x) : 0.40, 0.20, 0.40
Which of the following statements is true? * (1 Point)
This distribution is skewed to the right.
This is a binomial distribution.
This distribution is symmetric.
This distribution is skewed to the left.
This is a Poisson distribution
46
A bank has an average random arrival rate of 3.2 customers every 4 minutes.
What is the probability of getting exactly 10 customers during an 8-minute
interval? * (1 Point)
0.0528
0.0169
0.0013
0.0040
8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24
47
A market research firms conducts studies regarding the success of new

products. The company is not always perfect in predicting the success.
Suppose that there is a 50% chance that any new product would be
successful (and a 50% chance that it would fail). In the past, for all new
products that ultimately were successful, 80% were predicted to be
successful (and the other 20% were inaccurately predicted to be failures).
Also, for all new products that were ultimately failures, 70% were predicted
to be failures (and the other 30% were inaccurately predicted to be
successes). What is the a priori probability that a new product would be a
success? * (1 Point)
0.50
0.80
0.70
0.60
0.95
48
Suppose 5% of the population have a certain disease. A laboratory blood

test gives a positive reading for 95% of people who have the disease. What
is the probability of testing positive and having the disease? * (1 Point)
0.0475
0.95
0.05
0.9
0.02
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8/23/22, 10:00 AM Quiz_1 _XLRI_BMD_22-24

A market research firm conducts studies regarding the success of new

Meagan Dubean manages a portfolio of 200 common stocks. Her staff

Growth and Healthcare are complementary events.

Electronics and Growth are independent.

Electronics and Growth are mutually exclusive.

Airlines and Healthcare are collectively exhaustive.

Electronics and Healthcare are collectively exhaustive.

Pinky Bauer, Chief Financial Officer of Harrison Haulers, Inc., suspects

You are offered an investment opportunity. Its outcomes and probabilities

x : -$1,000, $0, +$1,000

P(x) : 0.40, 0.20, 0.40

The mean of this distribution is _____________. * (1 Point)

According to the U.S. Census Bureau, approximately 6% of all workers in

The table below provides summary information about students in a class.

Which of the following would indicate that a dataset is not bell-shaped? *

The range is equal to 5 standard deviations.

The range is larger than the interquartile range.

The mean is much smaller than the median.

There are no outliers.

Which of the following statements are true? * (1 Point)

Both B and C are correct.

All of these are correct.

In recent months, airline passengers have expressed much more

Which one of these statistics is unaffected by outliers? * (1 Point)

A fast food hamburger restaurant manager is interviewing high school

What is the standard deviation of a binomial distribution where n = 16 and p

Max Sandlin is exploring the characteristics of stock market investors. He

Name of the Candidate *

60 and 100 months

The table below gives the probabilities of combinations of religion and

All of these are mutually exclusive

An analysis of personal loans at a local bank revealed the following facts:

It is known that screws produced by a certain company will be defective with

A market research firm conducts studies regarding the success of new

Suppose that at the 95% confidence level we calculate a confidence interval

The sample mean is 45

The population mean is 45.

The margin of error is 1.2.

Belinda Bose is reviewing a newly proposed advertising campaign. Based on

A market research firm is investigating the appeal of three package designs.

No, because P (25 or over | B) ≠ P (B)

Yes, because P (B) = P(C)

No, because P (25 or older | B) ≠ P (25 or older)

Yes, because P (25 or older ∩ B) ≠ 0

No, because age and package design are different things

statement is true? * (1 Point)

The cost of the United flight is 25% more than US Air.

The cost of the US Air flight is 25% less than United.

The cost of the United flight is 20% more than US Air.

Suppose 5% of the population have a certain disease. A laboratory blood

Which of the following is NOT required of a binomial distribution * (1 Point)

Each trial has exactly two outcomes

There is a fixed number of trials.

The probability of success remains fixed for all trials.

There are more than 30 trials.

using the normal distribution

using the binomial distribution

using the Poisson distribution