MGMT 421 (TAMU) - EXAM 2 (Ch 5)
QUESTIONS AND ANSWERS
probability -
correct answer ✅the numerical measure of the likelihood that an
event will occur.
random experiment -
correct answer ✅a process that generates well-defined outcomes.
Coin toss: either heads or tails
Roll a Die: either 1,2,3,4,5,6
sample space -
correct answer ✅the set of all possible outcomes
Sample space of flipping a coin: S={Head, Tail}
Sample space of flipping a coin and then rolling a dice S={H1, H2,
H3, H4, H5, H6, T1, T2, T3, T4, T5, T6}
, MGMT 421 (TAMU) - EXAM 2 (Ch 5)
QUESTIONS AND ANSWERS
probability of event -
correct answer ✅equal to the sum of the probabilities of
outcomes for the event.
Ex: Event C={8,9,10}
P(C) = P(8) + P(9) + P(10)
P(C) = .15 + .25 + .30 = .70
complement of A -
correct answer ✅The event consisting of all outcomes that are not
in A (also known as A^c or A'
P(A) + P(A^c) = 1
P(A) = 1 - P(A^c)
venn diagram -
correct answer ✅a graphical representation of the sample space
and operations involving events, in which the sample space is
represented by a rectangle and events are represented as circles
within the sample space.
QUESTIONS AND ANSWERS
probability -
correct answer ✅the numerical measure of the likelihood that an
event will occur.
random experiment -
correct answer ✅a process that generates well-defined outcomes.
Coin toss: either heads or tails
Roll a Die: either 1,2,3,4,5,6
sample space -
correct answer ✅the set of all possible outcomes
Sample space of flipping a coin: S={Head, Tail}
Sample space of flipping a coin and then rolling a dice S={H1, H2,
H3, H4, H5, H6, T1, T2, T3, T4, T5, T6}
, MGMT 421 (TAMU) - EXAM 2 (Ch 5)
QUESTIONS AND ANSWERS
probability of event -
correct answer ✅equal to the sum of the probabilities of
outcomes for the event.
Ex: Event C={8,9,10}
P(C) = P(8) + P(9) + P(10)
P(C) = .15 + .25 + .30 = .70
complement of A -
correct answer ✅The event consisting of all outcomes that are not
in A (also known as A^c or A'
P(A) + P(A^c) = 1
P(A) = 1 - P(A^c)
venn diagram -
correct answer ✅a graphical representation of the sample space
and operations involving events, in which the sample space is
represented by a rectangle and events are represented as circles
within the sample space.
