MGT 181 - Chapters 2, 3, and 6 Exam Questions with Correct Answers Latest Update
2025/2026
Subjective probability implies that we can measure the relative frequency of the values of the
random variable. - Answers FALSE
Mutually exclusive events exist if only one of the events can occur on any one trial. - Answers
TRUE
Stating that two events are statistically independent means that the probability of one event
occurring is independent of the probability of the other event having occurred. - Answers TRUE
Saying that a set of events is collectively exhaustive implies that one of the events must occur. -
Answers TRUE
Saying that a set of events is mutually exclusive and collectively exhaustive implies that one and
only one of the events can occur on any trial. - Answers
If two events are mutually exclusive, the probability of both events occurring is simply the sum
of the individual probabilities. - Answers TRUE
Given two statistically dependent events (A, B), the conditional probability of P(A/B) =
P(B)/P(AB). - Answers FALSE
Given two statistically independent events (A, B), the joint probability of P(AB) = P(A) + P(B). -
Answers FALSE
Given two statistically independent events (A, B), the conditional probability P(A/B) = P(A). -
Answers TRUE
Assume that you have a box containing five balls: two red and three white. You draw a ball two
times, each time replacing the ball just drawn before drawing the next. The probability of
drawing only one white ball is 0.20. - Answers FALSE
Suppose that you enter a drawing by obtaining one of 20 tickets that have been distributed. By
using the, you can determine that the probability of your winning the classical method drawing
is 0.05. - Answers TRUE
If we roll a single die twice, the probability that the sum of the dots showing on the two rolls
equals four (4), is 1/6. - Answers FALSE
Consider a standard 52-card deck of cards. The probability of drawing either a seven or a black
card is 7/13. - Answers TRUE
The joint probability of two or more independent events occurring is the sum of their marginal or
simple probabilities. - Answers FALSE
, The expected value of a binomial distribution is expressed as np, where n equals the number of
trials and equals the probability of success of any individual trial. - Answers TRUE
The standard deviation equals the square of the variance. - Answers FALSE
The probability of obtaining specific outcomes in a Bernoulli process is described by the
binomial probability distribution. - Answers TRUE
The variance of a binomial distribution is expressed as np/(1-p), where n equals the number of
trials and p equals the probability of success of any individual trial. - Answers FALSE
In a normal distribution, the value represents the number of standard deviations from a Z value
to the mean. - Answers TRUE
Assume you have a normal distribution representing the likelihood of completion times. The
mean of this distribution is 10, and the standard deviation is 3. The probability of completing the
project in 8 or fewer days is the same as the probability of completing the project in 18 days or
more. - Answers FALSE
Assume you have a normal distribution representing the likelihood of completion times. The
mean of this distribution is 10, and the standard deviation is 3. The probability of completing the
project in 7 or fewer days is the same as the probability of completing the project in 13 days or
more. - Answers TRUE
Subjective probability assessments depend on
A) the total number of trials.
B) the relative frequency of occurrence.
C) the number of occurrences of the event.
D) experience and judgment. - Answers D
A conditional probability P(B/A) is equal to its marginal probability P(B) if
A) it is a joint probability.
B) statistical dependence exists.
C) statistical independence exists.
D) the events are mutually exclusive. - Answers C
Suppose that we determine the probability of a warm winter based on the number of warm
winters experienced over the past 10 years. In this case, we have used
A) relative frequency.
2025/2026
Subjective probability implies that we can measure the relative frequency of the values of the
random variable. - Answers FALSE
Mutually exclusive events exist if only one of the events can occur on any one trial. - Answers
TRUE
Stating that two events are statistically independent means that the probability of one event
occurring is independent of the probability of the other event having occurred. - Answers TRUE
Saying that a set of events is collectively exhaustive implies that one of the events must occur. -
Answers TRUE
Saying that a set of events is mutually exclusive and collectively exhaustive implies that one and
only one of the events can occur on any trial. - Answers
If two events are mutually exclusive, the probability of both events occurring is simply the sum
of the individual probabilities. - Answers TRUE
Given two statistically dependent events (A, B), the conditional probability of P(A/B) =
P(B)/P(AB). - Answers FALSE
Given two statistically independent events (A, B), the joint probability of P(AB) = P(A) + P(B). -
Answers FALSE
Given two statistically independent events (A, B), the conditional probability P(A/B) = P(A). -
Answers TRUE
Assume that you have a box containing five balls: two red and three white. You draw a ball two
times, each time replacing the ball just drawn before drawing the next. The probability of
drawing only one white ball is 0.20. - Answers FALSE
Suppose that you enter a drawing by obtaining one of 20 tickets that have been distributed. By
using the, you can determine that the probability of your winning the classical method drawing
is 0.05. - Answers TRUE
If we roll a single die twice, the probability that the sum of the dots showing on the two rolls
equals four (4), is 1/6. - Answers FALSE
Consider a standard 52-card deck of cards. The probability of drawing either a seven or a black
card is 7/13. - Answers TRUE
The joint probability of two or more independent events occurring is the sum of their marginal or
simple probabilities. - Answers FALSE
, The expected value of a binomial distribution is expressed as np, where n equals the number of
trials and equals the probability of success of any individual trial. - Answers TRUE
The standard deviation equals the square of the variance. - Answers FALSE
The probability of obtaining specific outcomes in a Bernoulli process is described by the
binomial probability distribution. - Answers TRUE
The variance of a binomial distribution is expressed as np/(1-p), where n equals the number of
trials and p equals the probability of success of any individual trial. - Answers FALSE
In a normal distribution, the value represents the number of standard deviations from a Z value
to the mean. - Answers TRUE
Assume you have a normal distribution representing the likelihood of completion times. The
mean of this distribution is 10, and the standard deviation is 3. The probability of completing the
project in 8 or fewer days is the same as the probability of completing the project in 18 days or
more. - Answers FALSE
Assume you have a normal distribution representing the likelihood of completion times. The
mean of this distribution is 10, and the standard deviation is 3. The probability of completing the
project in 7 or fewer days is the same as the probability of completing the project in 13 days or
more. - Answers TRUE
Subjective probability assessments depend on
A) the total number of trials.
B) the relative frequency of occurrence.
C) the number of occurrences of the event.
D) experience and judgment. - Answers D
A conditional probability P(B/A) is equal to its marginal probability P(B) if
A) it is a joint probability.
B) statistical dependence exists.
C) statistical independence exists.
D) the events are mutually exclusive. - Answers C
Suppose that we determine the probability of a warm winter based on the number of warm
winters experienced over the past 10 years. In this case, we have used
A) relative frequency.
