Statistical Techniques in Business And Economics 15th Edition By Lind – Test Bank

Statistical Techniques in Business And Economics 15th Edition By Lind – Test Bank

Chapter 05

A Survey of Probability Concepts

True / False Questions

1. The probability of rolling a 3 or 2 on a single die is an example of conditional probability.
True    False

2. The probability of rolling a 3 or 2 on a single die is an example of mutually exclusive events.
True    False

3. An individual can assign a subjective probability to an event based on the individual’s knowledge about the event.
True    False

4. To apply the special rule of addition, the events must be mutually exclusive.
True    False

5. A joint probability measures the likelihood that two or more events will happen concurrently.
True    False

6. The joint probability of two independent events, A and B, is computed as: P(A and B) = P(A) P(B).
True    False

7. The joint probability of two events, A and B, that are not independent is computed as: P(A and B) = P(A) P(B|A).
True    False

8. A coin is tossed four times. The joint probability that all four tosses will result in a head is ¼ or 0.25.
True    False