BANA 2372 Chapter 4 Midterm Exam 1 Practice with Complete Solutions

BANA 2372 Chapter 4 Midterm Exam 1 Practice with Complete Solutions The union of two events A and B can always be denoted by: events A and B can always be denoted by: - Answer-AꓴB The addition law is potentially helpful when we are interested in computing the probability of: - Answer-the union of two events. If A and B are independent and P(A) = .5 and P(B) = .5, then P(A ∪ B) is: - Answer-75 .5 + .5 - (.5 . .5) = .75 In a particular course, it was determined that only 70% of the students attend class on Fridays. From past data, it was noted that 95% of those who went to class on Fridays passed the course, while only 10% of those who did not go to class on Fridays passed the course. If a student passes the course, what is the probability that the student did not attend on Fridays? - Answer-4.3% Suppose A and B are independent events with P(A) = .35 and P(B) = .20. Calculate P(A^c∩B^c) - Answer-.52 A method of assigning probabilities based upon judgment is referred to as the: - Answer-subjective method. Which of the following graphical displays is helpful when using Bayes' theorem to calculate a probability? - Answer-A tree diagram