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Unit 3 Practice Milestone Exam Questions with Complete Solutions.

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UNIT 3 - MILESTONE 3 (FINAL) Exam Questions with Complete Solutions Tracie spins the four-colored spinner shown below. She records the total number of times the spinner lands on the color red and constructs a graph to visualize her results. Which of the following statements is TRUE? - Correct Answers: If Tracie spins the spinner 1,000 times, it would land on red close to 250 times. Kate was trying to decide which type of frozen pizza to restock based on popularity: pepperoni pizza or sausage pizza. After studying the data, she noticed that pepperoni flavors sold best on the weekdays and on the weekends, but not best overall. Which paradox has Kate encountered? - Correct Answers: Simpson's Paradox Using the Venn Diagram below, what is the conditional probability of event B occurring, assuming event A has happened [P(B|A)]? - Correct Answers: 0.63 Zhi and her friends moved on to the card tables at the casino. Zhi wanted to figure out the probability of drawing a face card or an Ace. Choose the correct probability of drawing a face card or an Ace. Answer choices are in the form of a percentage, rounded to the nearest whole number. - Correct Answers: 31% Which of the following situations describes a continuous distribution? - Correct Answers: A probability distribution showing the weights of newborns Patricia was having fun playing poker. She needed the next two cards dealt to be spades so she could make a flush (five cards of the same suit). There are 12 cards left in the deck, and three are spades. What is the probability that the two cards dealt to Patricia (without replacement) will both be spades? Answer choices are in percentage format, rounded to the nearest whole number. - Correct Answers: 5% Asmita went to a blackjack table at the casino. At the table, the dealer has just shuffled a standard deck of 52 cards. Asmita has had good luck at blackjack in the past, and she actually got three blackjacks with Aces in a row the last time she played. Because of this lucky run, Asmita thinks that Ace is the luckiest card. The dealer deals the first card to her. In a split second, she can see that it is a non-face card, but she is unsure if it is an Ace. What is the probability of the card being an Ace, given that it is a non-face card? Answer choices are in a percentage format, rounded to the nearest whole number. - Correct Answers: 10% What is the probability of drawing a spade or a jack from a standard deck of 52 cards? - Correct Answers: 4/13 Dan is playing a game where he selects a card from a deck of four cards, labeled 1, 2, 3, or 4. The possible cards and probabilities are shown in the probability distribution below. What is the expected value for the card that Dan selects? - Correct Answers: 2.5 A basketball player makes 60% of his free throws. We set him on the free throw line and asked him to shoot free throws until he misses. Let the random variable X be the number of free throws taken by the player until he misses. Assuming that his shots are independent, find the probability that he will miss the shot on his 6th throw. - Correct Answers: 0.03110 Mark noticed that the probability that a certain player hits a home run in a single game is 0.165. Mark is interested in the variability of the number of home runs if this player plays 150 games. If Mark uses the normal approximation of the binomial distribution to model the number of home runs, what is the variance for a total of 150 games? Answer choices are rounded to the hundredths place. - Correct Answers: 20.67 Eric is randomly drawing cards from a deck of 52. He first draws a red card, places it back in the deck, shuffles the deck, and then draws another card. What is the probability of drawing a red card, placing it back in the deck, and drawing another red card? Answer choices are in the form of a percentage, rounded to the nearest whole number. 22% - Correct Answers: 25% There is a 30% chance of rain tomorrow. What are the odds in favor of it raining? - Correct Answers: 3.7 Two sets A and B are shown in the Venn diagram below. Which statement is FALSE? - Correct Answers: There are a total of 25 elements shown in the Venn diagram. Maria flipped a coin 60 times, and the coin came up tails 32 times. What is the relative frequency of the coin turning up heads in this experiment? Answer choices are rounded to the hundredths place. - Correct Answers: 0.47 Three hundred students in a school were asked to select their favorite fruit from a choice of apples, oranges, and mangoes. This table lists the results. Boys Girls Apple 66 46 Orange 52 41 Mango 40 55 If you were to choose a boy from the group, what is the probability that mangoes are his favorite fruit? Answer choices are rounded to the hundredths place. - Correct Answers: 0.25 The average number of tunnel construction projects that take place at any one time in a certain state is 3. Find the probability of exactly five tunnel construction projects taking place in this state. - Correct Answers: 0.10 Which of the following is an example of a false negative? - Correct Answers: Test results indicate that a woman is not pregnant when she is. Sadie is selecting two pieces of paper at random from the stack of colored paper in her closet. The stack contains several sheets of each of the standard colors: red, orange, yellow, green, blue, and violet. All of the following are possible outcomes for Sadie's selection, EXCEPT: - Correct Answers: Blue, black What is the probability of NOT rolling a four when rolling a six sided die? - Correct Answers: 5/6 A bag contains 8 red marbles, 7 blue marbles, and 6 green marbles. Adam randomly picks out a marble from the bag. What is the theoretical probability that Adam will pick a blue marble from the bag? - Correct Answers: 1/3 Ryan is playing a multiplication game with a pile of 26 cards, each with a number on them. Each turn, he flips over two of the cards, and has to multiply the numbers. How many possible outcomes are there on Ryan's first turn flipping two cards? - Correct Answers: 650 A credit card company surveys 125 of its customers to ask about satisfaction with customer service. The results of the survey, divided by gender, are shown below. Males Females Extremely Satisfied 25 7 Satisfied 21 13 Neutral 13 16 Dissatisfied 9 14 Extremely Dissatisfied 2 5 If a survey is selected at random, what is the probability that the person is a female with neutral feelings about customer service? Answer choices are rounded to the hundredths place. - Correct Answers: 0.13 Using this Venn diagram, what is the probability that event A or event B occurs? - Correct Answers: 0.77 Select the following statement that describes non-overlapping events. - Correct Answers: Jon wants a face card so he can have a winning hand, and he receives the eight of clubs. Which of the following is a condition of binomial probability distributions? - Correct Answers: All observations made are independent of each other. John is playing a game with a standard deck of playing cards. He wants to draw a jack on the first try. Which of the following statements is true? - Correct Answers: The probability that John draws a jack on the first try is 1/13. If John replaces the card, re-shuffles, and draws again, the probability that he will pull another jack stays the same.

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Institution
Unit 3 Milestone.
Course
Unit 3 Milestone.

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Unit 3 Practice Milestone Exam
Questions with Complete
Solutions
Which statement is true when the Fed has either an easy money policy or a tight money policy? -
Correct Answers: The Fed uses open market operations to influence the money supply.



Which of the following is a broad goal of the Fed's monetary policy? - Correct Answers: To promote
maximum sustainable employment



The amount that the Fed charges a bank for borrowing money from the Fed to meet its reserves
requirement at the end of the day is known which of the following? - Correct Answers: Discount rate



Which of the following is NOT a reason why gold is often used as money? - Correct Answers: It is easier
to trade than paper.



Which of these situations is typical of a system with a decentralized banking system (such as the one the
United States used during the 19th century)? - Correct Answers: Currency printed by an unknown bank
has an uncertain value.



Which statement below about the Federal Reserve is false? - Correct Answers: The president is the head
of the Federal Reserve.



The term for when many bank account holders demand their money at the same time is a __________. -
Correct Answers: run



Which of the following is an example of medium of exchange? - Correct Answers: A person trades an egg
farmer four seashells for one dozen eggs.



Which of the following steps comes first in the federal funds market? - Correct Answers: The Fed sets a
reserve requirement for banks.

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Unit 3 Milestone.

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