Asu ecn 221 exam 1 study guide| Updated New
which of the following is a measure of dispersion?
interquar le range
the sum of devia ons of the individual data elements from their mean is_____.
always equal to zero
the value of the sum of the squared devia ons form the mean, i.e., summa on(x-xbar)^2 must
always be______.
at least zero
the interquar le range is_________.
the difference between the third and first quar les
events A and B are mutually exclusive. which of the following statements is also true?
P(A ∪ B) = P(A) + P(B)
if A and B are independent events with P(A)=0.301 and P(B)=0.253, then P(A ∩ B)=_________
0.07615 (mul ply the two numbers)
revised probabili es of events based on addi onal informa on are________.
posterior probabilites
two events with nonzero probabili es_________.
cannot be both mutually exclusive and independent
Five Cs Bank issues credit cards to its customers. In the past 3.4% of the out-of-state
nonfraudulent credit card transac ons were made at gasoline sta ons and 9.2% of the out-of-
state fraudulent credit card transac ons were made at gasoline sta ons. Based on historical
transac ons 97.7% of out-of-state credit card transac ons are legi mate while the rest of its
out-of-state credit card transac ons are fraudulent. An out-of-state credit card transac on took
place at a gasoline sta on, what is the probability the transac on is fraudulent?
0.059886
What is the probability that a customer is in the 18-30 age group?
, Product Preference age 18-30 age 31-45 age 46+
Strawberry 33 36 32
Blueberry 14 23 27
0.284848
what is the probability that a customer is in tempe or prefers chocolate or both?
Product Preference Flagstaff Tempe Tucson
Vanilla 43 71 31
Chocolate 35 61 32
0.728938
what is the probability that a customer is in the 46+ age group?Product Preference age 18-30
age 31-45 age 46+
Strawberry 53 27 33
Blueberry 22 25 27
0.320856
The random variable x is the number of occurrences of an event over an interval of 10 minutes.
It can be assumed the probability of an occurrence is the same in any two me periods of an
equal length. It is known that the mean number of occurrences in 10 minutes is 5.3.
Refer to exhibit 5-11. the probability there are 8 more occurrences in 10 minutes is_________.
0.0771
What is P(YES warranty | PAID CASH)?
Warranty purchase PAID CASH STORE CREDIT ACCT CREDIT CARD
YES 2 12 53
NO 9 20 71
0.181818
the student body of a large university consists of 61% female students. a random sample of 8
students is selected. what is the random variable in this experiment?
the number of female students out of 8
the probability of no breakdowns in a month is____________.
# of breakdowns probability
0 .12
which of the following is a measure of dispersion?
interquar le range
the sum of devia ons of the individual data elements from their mean is_____.
always equal to zero
the value of the sum of the squared devia ons form the mean, i.e., summa on(x-xbar)^2 must
always be______.
at least zero
the interquar le range is_________.
the difference between the third and first quar les
events A and B are mutually exclusive. which of the following statements is also true?
P(A ∪ B) = P(A) + P(B)
if A and B are independent events with P(A)=0.301 and P(B)=0.253, then P(A ∩ B)=_________
0.07615 (mul ply the two numbers)
revised probabili es of events based on addi onal informa on are________.
posterior probabilites
two events with nonzero probabili es_________.
cannot be both mutually exclusive and independent
Five Cs Bank issues credit cards to its customers. In the past 3.4% of the out-of-state
nonfraudulent credit card transac ons were made at gasoline sta ons and 9.2% of the out-of-
state fraudulent credit card transac ons were made at gasoline sta ons. Based on historical
transac ons 97.7% of out-of-state credit card transac ons are legi mate while the rest of its
out-of-state credit card transac ons are fraudulent. An out-of-state credit card transac on took
place at a gasoline sta on, what is the probability the transac on is fraudulent?
0.059886
What is the probability that a customer is in the 18-30 age group?
, Product Preference age 18-30 age 31-45 age 46+
Strawberry 33 36 32
Blueberry 14 23 27
0.284848
what is the probability that a customer is in tempe or prefers chocolate or both?
Product Preference Flagstaff Tempe Tucson
Vanilla 43 71 31
Chocolate 35 61 32
0.728938
what is the probability that a customer is in the 46+ age group?Product Preference age 18-30
age 31-45 age 46+
Strawberry 53 27 33
Blueberry 22 25 27
0.320856
The random variable x is the number of occurrences of an event over an interval of 10 minutes.
It can be assumed the probability of an occurrence is the same in any two me periods of an
equal length. It is known that the mean number of occurrences in 10 minutes is 5.3.
Refer to exhibit 5-11. the probability there are 8 more occurrences in 10 minutes is_________.
0.0771
What is P(YES warranty | PAID CASH)?
Warranty purchase PAID CASH STORE CREDIT ACCT CREDIT CARD
YES 2 12 53
NO 9 20 71
0.181818
the student body of a large university consists of 61% female students. a random sample of 8
students is selected. what is the random variable in this experiment?
the number of female students out of 8
the probability of no breakdowns in a month is____________.
# of breakdowns probability
0 .12
