BUS Stats Quiz 4 with correct answers 100% 2026

BUS Stats Quiz 4 with correct answers 100% 2026 A study was recently done in which 500 people were asked to indicate their preferences for one of three products. The following table shows the breakdown of the responses by gender of the respondents. If the people conducting the study wish to assess the probability that product A will be preferred by members of the target population, the method of assessment to be used would most likely be: - Correct Answer relative frequency of occurrence. When a football team plays a game, there are three outcomes that can occur: they can win, they can lose, or they can tie. The events are: - Correct Answer mutually exclusive. Of the last 100 customers entering a computer shop, 25 have purchased a computer. If the classical probability assessment for computing probability is used, the probability that the next customer will purchase a computer is: - Correct Answer 0.50 When new information is obtained which causes a decision maker to revise a prior probability asessment, a useful tool for doing this is: - Correct Answer Bayes' Theorem When the salesperson makes a sale, there are three possible sales levels: large, medium, and small. The probability of a large sale is 0.20 and the chance of a medium sale is 0.60. Thus, when a sale is made, the chance of it being a small sale is 0.20. - Correct Answer True Based on weather data collected in Racine, Wisconsin, on Christmas Day, the weather had the following distribution: Event : Relative Distribution Clear & dry: 0.20 Cloudy & dry: 0.30 Rain: 0.40 Snow: 0.10 Based on these data, what is the probability that next Christmas will be dry? - Correct Answer 0.50