Essentials of Modern Business Statistics Chapter 6 Exam Bank Solution Manual Already Passed
Continuous random variable - Answers Variable that can assume any value in an interval
Probability of a random variable - Answers Probability of assuming a value within a given interval
Probability density function - Answers Function that defines the probability of a random variable
assuming a value within a given interval
Uniform probability distribution - Answers Distribution where probability is proportional to interval
length
Expected value of x - Answers Average value of a random variable
Variance of x - Answers Measure of the spread of a random variable
Normal probability distribution - Answers Most common distribution for describing a continuous
random variable
Normal probability density function - Answers Function that defines the shape of the normal distribution
Mean of a normal distribution - Answers Average value of a normal random variable
Standard deviation of a normal distribution - Answers Measure of the spread of a normal random
variable
Standard normal probability distribution - Answers Normal distribution with mean 0 and standard
deviation 1
Z-score - Answers Number of standard deviations a value is from the mean
Exponential probability distribution - Answers Distribution that describes the time it takes to complete a
task
Mean of an exponential distribution - Answers Average time to complete a task
Cumulative probability - Answers Probability of a value being less than or equal to a given value
Poisson distribution - Answers Distribution that describes the number of events occurring in a fixed
interval of time or space
Continuous random variable - Answers Variable that can assume any value in an interval
Probability of a random variable - Answers Probability of assuming a value within a given interval
Probability density function - Answers Function that defines the probability of a random variable
assuming a value within a given interval
Uniform probability distribution - Answers Distribution where probability is proportional to interval
length
Expected value of x - Answers Average value of a random variable
Variance of x - Answers Measure of the spread of a random variable
Normal probability distribution - Answers Most common distribution for describing a continuous
random variable
Normal probability density function - Answers Function that defines the shape of the normal distribution
Mean of a normal distribution - Answers Average value of a normal random variable
Standard deviation of a normal distribution - Answers Measure of the spread of a normal random
variable
Standard normal probability distribution - Answers Normal distribution with mean 0 and standard
deviation 1
Z-score - Answers Number of standard deviations a value is from the mean
Exponential probability distribution - Answers Distribution that describes the time it takes to complete a
task
Mean of an exponential distribution - Answers Average time to complete a task
Cumulative probability - Answers Probability of a value being less than or equal to a given value
Poisson distribution - Answers Distribution that describes the number of events occurring in a fixed
interval of time or space
