统计学 chapter 5

Objectives

In this chapter, you learn:

 The properties of a probability distribution

 To compute the expected value and variance of a probability distribution
 To calculate the covariance and understand its use in finance
 To compute probabilities from binomial, Poisson, and hypergeometric distributions
 How to use the binomial, Poisson, and hypergeometric distributions to solve
business problems

Home Chapter 5 Self-Study Quizzes Multiple Choice

 Multiple Choice


This activity contains 15 questions.

What value is the sum of the probabilities in a binomial distribution?

It varies with the number of values in the distribution.

It varies with the number of terms in the sum.


 A particular game of chance has three possible outcomes (win, lose, and
draw) with associated probabilities and monetary payouts given in the
following table:

What is the expected value of the monetary winnings (loss) from playing
the game?
$0

$5

-$5

$25

A particular game of chance has three possible outcomes (win, lose, and
draw) with associated probabilities and monetary payouts given in the
following table:
 $2500

$5

$50

$13,000

A binomial distribution has exactly how many possible outcomes?

It depends on the problem.

6


A manufacturing process produces defective items 5% of the time. A

sample of 20 items is taken for quality control. If you wanted to

determine the probability that exactly 2 of the 20 items are

defective, which distribution should be used?

Binomial

Poisson

Continuous

Hypergeometric

0.47

0.28

0.04

0.60


The Poisson distribution is to quantify the probability associated with

a certain number of outcomes in which of the following?

some interval of time

“n” trials when sampling is done without replacement

“1-p” failures

“n” trials when sampling is done with replacement

Trains pass an intersection at the rate of 4 per day. What is the

probability that exactly 5 trains will pass the intersection tomorrow?

0.781

0.175

0.156


 The hypergeometric distribution is similar to a binomial distribution

except?

The probability of failure is 1-p.

Sampling is done with replacement in the hypergeometric.

The number of trials is larger in the hypergeometric.

There are more than two possible outcomes in the hypergeometric.

A case of 15 compact fluorescent light bulbs is known to have 2 that

are defective. If a sample of 4 light bulbs is selected, what is the

probability that exactly 1 will be defective?

0.14

0.58

0.42

0.84


 Fifty households in a particular neighborhood will file state income

tax returns, and 5 will be fraudulent. If the state revenue

commissioner selects 10 tax returns for detailed auditing, the

number of fraudulent returns detected will follow what type of

distribution?

Binomial

Hypergeometric

Poisson

Normal

Which of the following relationships regarding the expected value and

variance of random variables is incorrect?

S(X + Y) = S(X) + S(Y)

E(P) = wE(X) + (1-w)E(Y)

E(X + Y) = E(X) + E(Y)

Var(X + Y) = Var(X) + Var(Y) + 2Cov(XY)


 The number of people arriving to a movie theater in a 30-minute

time period is best modeled using which of the following

distributions?

Hypergeometric

Poisson

Binomial

Normal

A young investor has selected two mutual funds, growth and income.
The growth fund has an expected return of $4,000 and variance of
60,000 while the income fund has an expected return of $2,500 with
a variance of 45,000. If the growth fund is 70% of the portfolio,
determine the expected return of the portfolio.
$3,250

$3,000

$3,500

$3,750


 A young investor has selected two mutual funds, growth and income.
The growth fund has an expected return of $4,000 and variance of
60,000 while the income fund has an expected return of $2,500 with
a variance of 45,000. The covariance between the two mutual funds
is 20,000. If the growth fund is 70% of the portfolio, determine the
portfolio risk.
$325

$200

$250

$185

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Site Title: Basic Business Summary of Results

Statistics, 11e
33% Correct of 15 Scored items:
Book Title: Basic Business 5 Correct: 33%
Statistics, 11e
10 Incorrect: 67%

Book Berenson
Author:
More information about scoring
Location Chapter 5 > Self-Study
on Site: Quizzes > Multiple
Choice

Date/Time November 8, 2018 at

Submitted: 9:01 AM (UTC/GMT)

1. What value is the sum of the probabilities in a binomial

distribution?
 1
Your Answer:

Correct

2. A particular game of chance has three possible outcomes (win,

lose, and draw) with associated probabilities and monetary
payouts given in the following table:

What is the expected value of the monetary winnings (loss) from

playing the game?

-$5
Your Answer:

Correct

3. A particular game of chance has three possible outcomes (win,

lose, and draw) with associated probabilities and monetary
payouts given in the following table:
 What is the standard deviation of the monetary winnings (loss)
from playing the game?

$5
Your Answer:

Correct Answer: $50

Using equation (5.3), the standard deviation is approximately

$49.75.

4. A binomial distribution has exactly how many possible outcomes?

2
Your Answer:

Correct

5. A manufacturing process produces defective items 5% of the time.

A sample of 20 items is taken for quality control. If you wanted to
determine the probability that exactly 2 of the 20 items are
defective, which distribution should be used?

Hypergeometric
Your Answer:
 Correct Answer: Binomial

Because the manufacturing process has a known 5% defective

rate, each of the items has a 5% chance of being defective
regardless of how they are sampled. This is equivalent to sampling
“with replacement” or using a binomial distribution.

6. A student randomly guesses on a multiple choice exam that has

15 questions with 4 options for each question. What is the
probability that the student gets exactly 7 questions correct?

0.60
Your Answer:

Correct Answer: 0.04

Use the formula for the binomial distribution with n = 15, p =

0.25, and X = 7.

7. The Poisson distribution is to quantify the probability associated

with a certain number of outcomes in which of the following?

“n” trials when sampling is done without

Your Answer: replacement

Correct Answer: some interval of time

The Poisson Distribution is used to determine the probability

associated with the number of times a particular event occurs
throughout an area of opportunity (e.g., interval of time).

8. Trains pass an intersection at the rate of 4 per day. What is the

probability that exactly 5 trains will pass the intersection
tomorrow?
 0
Your Answer:

Correct Answer: 0.156

Apply the Poisson probability distribution formula using lambda =

4 and X = 5.

9. The hypergeometric distribution is similar to a binomial

distribution except?

There are more than two possible outcomes in

Your Answer: the hypergeometric.

Correct Answer: Sampling is done with replacement in the

hypergeometric.

The hypergeometric outcomes are classified as success or failure,

exactly the same as a binomial distribution.

10 A case of 15 compact fluorescent light bulbs is known to have 2

. that are defective. If a sample of 4 light bulbs is selected, what is
the probability that exactly 1 will be defective?

0.42
Your Answer:

Correct

11 Fifty households in a particular neighborhood will file state income

. tax returns, and 5 will be fraudulent. If the state revenue
commissioner selects 10 tax returns for detailed auditing, the
number of fraudulent returns detected will follow what type of
distribution?
 Hypergeometric
Your Answer:

Correct

12 Which of the following relationships regarding the expected value

. and variance of random variables is incorrect?

Var(X + Y) = Var(X) + Var(Y) + 2Cov(XY)

Your Answer:

Correct Answer: S(X + Y) = S(X) + S(Y)

This is the formula for the variance of a sum of random variables.

13 The number of people arriving to a movie theater in a 30-minute

. time period is best modeled using which of the following
distributions?

Hypergeometric
Your Answer:

Correct Answer: Poisson

There is a 30-minute interval of opportunity for which customers

arrive to the movie theater.

14 A young investor has selected two mutual funds, growth and

. income. The growth fund has an expected return of $4,000 and
variance of 60,000 while the income fund has an expected return
of $2,500 with a variance of 45,000. If the growth fund is 70% of
the portfolio, determine the expected return of the portfolio.

$3,000
Your Answer:

Correct Answer: $3,500

 Using the formula for portfolio expected return.

15 A young investor has selected two mutual funds, growth and

. income. The growth fund has an expected return of $4,000 and
variance of 60,000 while the income fund has an expected return
of $2,500 with a variance of 45,000. The covariance between the
two mutual funds is 20,000. If the growth fund is 70% of the
portfolio, determine the portfolio risk.

$185
Your Answer:

Correct Answer: $200

Use the formula for portfolio risk.

Home Chapter 5 Self-Study Quizzes True/False

True/False

This activity contains 15 questions.

If the covariance of two discrete variables is positive, as the value of

one variable increases, the value of the other variable decreases.

True

False
The hypergeometric distribution uses sampling “with replacement.”

True

False

The expected value of a sum of random variables is equal to the sum

of the expected values of each random variable.

True

False

Discrete variables have means that are integer values.

True

False
The probability of the success of a trial or observation for a binomial

probability distribution depends on the trial or observation that came

before it.

True

False

The mean of a Poisson distribution is always equal to its variance.

True

False

True

False
The probability of a student randomly guessing answers to a

true/false exam is best modeled with a binomial distribution.

True

False

The formula for the binomial probability distribution takes into

account both the probability of success as well as the probability of

failure.

True

False

The probability of success for each occurrence in a hypergeometric

distribution depends on the outcome of the previous trial.

True
 False

The smaller an “area of opportunity,” the smaller the probability that

an event will occur more than once in it.

True

False

A probability distribution for a discrete variable depicts all possible

mutually exclusive events, and the sum of the corresponding

probabilities must be equal to 1.0.

True

False

Formulas for both the binomial distribution and the hypergeometric

 distribution use the concept of permutations.

True

False

The number of LCD televisions sold during a day is an example of a

continuous random variable.

True

False

If the binomial probability of success is near 0.5, then the

distribution is approximately symmetric.

True

False

Print this page

Your Results for:

"True/False"

Site Title: Basic Business Summary of Results

Statistics, 11e
Book Title: Basic Business 60% Correct of 15 Scored items:
Statistics, 11e 9 Correct: 60%

Book Berenson 6 Incorrect: 40%

Author:

Location Chapter 5 > Self-Study More information about scoring

on Site: Quizzes > True/False

Date/Time November 8, 2018 at

Submitted: 9:16 AM (UTC/GMT)

1. If the covariance of two discrete variables is positive, as the

value of one variable increases, the value of the other variable
decreases.

False
Your Answer:

Correct

2. The hypergeometric distribution uses sampling “with

replacement.”

False
Your Answer:

Correct

3. The expected value of a sum of random variables is equal to

the sum of the expected values of each random variable.

False
Your Answer:

Correct Answer: True

 E(X + Y) = E(X) + E(Y)

4. Discrete variables have means that are integer values.

False
Your Answer:

Correct

5. The probability of the success of a trial or observation for a

binomial probability distribution depends on the trial or
observation that came before it.

False
Your Answer:

Correct

6. The mean of a Poisson distribution is always equal to its

variance.

False
Your Answer:

Correct Answer: True

The mean and variance of a Poisson distribution are equal to

lambda, the expected number of events per unit time, volume,
or area.

7. A magician asks you to draw 4 cards from a standard 52-card

deck of playing cards. The probability that you have exactly 1
ace in your 4-card hand is best described by a binomial
 distribution in which the probability of success (drawing an
ace) is 4/52.

False
Your Answer:

Correct

8. The probability of a student randomly guessing answers to a

true/false exam is best modeled with a binomial distribution.

False
Your Answer:

Correct Answer: True

The probability of guessing correctly is always 0.5, and the

outcomes are independent.

9. The formula for the binomial probability distribution takes into

account both the probability of success as well as the
probability of failure.

True
Your Answer:

Correct

10 The probability of success for each occurrence in a

. hypergeometric distribution depends on the outcome of the
previous trial.

False
Your Answer:

Correct Answer: True

 The probability of the success of a trial for a hypergeometric
distribution depends on the outcome of prior trials. This is part
of the nature of sampling “without replacement” that
distinguishes the hypergeometric distribution from the binomial
distribution.

11 The smaller an “area of opportunity,” the smaller the

. probability that an event will occur more than once in it.

True
Your Answer:

Correct

12 A probability distribution for a discrete variable depicts all

. possible mutually exclusive events, and the sum of the
corresponding probabilities must be equal to 1.0.

True
Your Answer:

Correct

13 Formulas for both the binomial distribution and the

. hypergeometric distribution use the concept of permutations.

True
Your Answer:

Correct Answer: False

The binomial and hypergeometric distributions rely on the

formula for combinations to describe a set of outcomes in
 which the order is not important.

14 The number of LCD televisions sold during a day is an example

. of a continuous random variable.

True
Your Answer:

Correct Answer: False

Though it may be a large number, television sales represent a

discrete number.

15 If the binomial probability of success is near 0.5, then the

. distribution is approximately symmetric.

True
Your Answer:

Correct