Section ATrue/False
Indicate whether the sentence or statement is true or false.

__F__1.Two events that are independent cannot be mutually exclusive.

__F__2.A joint probability can have a value greater than 1.

__F__3.The intersection of A and Ac is the entire sample space.

__T__4.If 50 of 250 people contacted make a donation to the city symphony, then the relative frequency method assigns a probability of .2 to the outcome of making a donation.

__T__5.An automobile dealership is waiting to take delivery of nine new cars. Today, anywhere from zero to all nine cars might be delivered. It is appropriate to use the classical method to assign a probability of 1/10 to each of the possible numbers that could be delivered.

__T__6.When assigning subjective probabilities, use experience, intuition, and any available data.

__F__7.P (AxB) d P (A)

__F__8.If P (A|B) = .4 and P (B) = .6, then P (AxB) = .667.

__T__9.Bayes' theorem provides a way to transform prior probabilities into posterior probabilities.

__T__10.If P (AyB) = P (A) + P (B), then A and B are mutually exclusive.

Section BMultiple Choice
Identify the letter of the choice that best completes the statement or answers the question.

__C__11.Which of the following is not a valid representation of a probability? a.35%
b.0
c.1.04
d.3/8

__A__12.A list of all possible outcomes of an experiment is called a.the sample space.
b.the sample point.
c.the experimental outcome.
d.the likelihood set.

__B__13.Which of the following is not a proper sample space when all undergraduates at a university are considered? a.S = {in-state, out-of-state}
b.S = {freshmen, sophomores}
c.S = {age under 21, age 21 or over}
d.S = {a major within business, no business major}

__B__14.In the set of all past due accounts, let the event A mean the account is between 31 and 60 days past due and the...

...be able to ONEDefine probability. TWO Describe the classical, empirical, and subjective approaches to probability. THREEUnderstand the terms experiment, event, outcome, permutation, and combination. FOURDefine the terms conditional probability and joint probability. FIVE Calculate probabilities applying the rules of addition and multiplication. SIXUse a tree diagram to organize and compute probabilities....

...profit and unappropriated profit. what is the accumulated profit and why do accountants and bookkeepers use different names for the same thing? (6 marks)
Accumulated profits is profits that are not paid as dividend but is transfered over to the accounts for the next year. Also can be used to reinvest in the core of the business to help pay off debts or to purchase a capital asset.
The reasons why accountants and bookkeepers use different names for the same thing is because...

...I. ProbabilityTheory
* A branch of mathematics concerned with the analysis of random phenomena. The outcome of a random event cannot be determined before it occurs, but it may be any one of several possible outcomes. The actual outcome is considered to be determined by chance.
* The word probability has several meanings in ordinary conversation. Two of these are particularly important for the development and applications of the mathematical...

...solved.
C) a numerical measure of a probability experiment.. Ans = C
D) a qualitative attribute of a population.
4) Given the table of probabilities for the random variable x, does this form a probability distribution? Answer yes or no.
x 5 10 15 25
P(x) 0.1 –0.1 0.3 0.8 Ans = No
5) True or False: The expected value of a discrete random variable may be negative Ans = True
6) The table...

...P(S) The symbol for the probability of success
P(F) The symbol for the probability of failure
p The numerical probability of a success
q The numerical probability of a failure
P(S) = p and P(F) = 1 - p = q
n The number of trials
X The number of successes
The probability of a success in a binomial experiment can be computed with...

...guys, this is the probability Assignment. Last date for submission is 10 aug...
Q1. What is the probability of picking a card that was either red or black?
Q2. A problem in statistics is given to 5 students A, B, C, D, E. Their chances of solving it are ½,1/3,1/4,1/5,1/6. What is the probability that the problem will be solved?
Q3. A person is known to hit the target in 3 out of 4 shots whereas another person is known to hit the target in 2...

...never start doing business with another person or company until you have a signed contract clearly stating and agreeing to payment terms.
2. Once you begin doing business with someone, make sure you stamp your invoices with the date that payment is due to you. Don't rely on the customer to look at the invoice date and add 30 days -- or whatever your payment terms are -- to determine the pay date.
3. Offer discounts for early payment and add interest to late payments. A typical...

...ProbabilityTheory and Game of Chance
Jingjing Xu
April 24, 2012
I. INTRODUCTION
Probabilitytheory is the mathematical foundation of statistics, and it can be applied to many areas requiring large data analysis. Curiously, that the study on probabilitytheory has its root in parlor games and gambling....

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