Indicate whether the sentence or statement is true or false.

T 1. Deterministic techniques assume that no uncertainty exists in model parameters.

F 2. The probabilities of mutually exclusive events sum to zero.

T 3. A joint probability is the probability that two or more events that are not mutually exclusive can occur simultaneously.

T 4. For a continuous distribution involving a continuous random variable X, P(X <= 100) = P(X < 100).

F 5. Deterministic techniques include uncertainty and assume that there can be more than one model solution.

Multiple Choice

Identify the letter of the choice that best completes the statement or answers the question.

C 6. ____________ techniques assume that no uncertainty exists in model parameters

a. Probability

b. Probabilistic

c. Deterministic

d. Distribution

A 7. The events in an experiment are _____________ if only one can occur at a time

a. mutually exclusive

b. non-mutually exclusive

c. mutually inclusive

d. independent

C 8. P(A U B) is the probability that __________ will occur

a. A

b. B

c. A and B

d. A or B or both

_____ 9. For the normal distribution, the mean plus and minus 1.96 standard deviations will include what percent of the observations?

a. 80%

b. 84%

c. 90%

d. 95%

_____ 10. A loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is more than 22.75 oz?

1. The weight of a one cubic yard bag of landscape mulch is normally distributed with a mean of 40 pounds and a standard deviation of 2 pounds.
a. What is the probability that a bag will weigh less than 40 pounds?
b. What is the probability that a bag will weigh between 38 and 40 pounds?
2. Accord

Scorecard Paper
Consider the problem of where two couples should eat dinner. Two members of the group are vegetarian, and one does not drink alcohol.
Create a 2-3 page scorecard paper including the following details:
•The range of outcomes
•Probability of each outcome
•Objectives expected
Recommend a decision b

Objective: Calculate binomial and Poisson probabilities.
1) Chapter 5: Problem 5.5 (binomial)
Solve the following problems by using the binomial formula.
a. If n = 4 and p = .10 , find P(x = 3) .
b. If n = 7 and p = .80 , find P(x = 4) .
c. If n = 10 and p = .60 , find P(x ≥ 7) .
d. If n = 12 and p = .45

According to prospect theory, which is preferred?
1. Prospect A or B
Decision (i) Choose between
A. (.80, $50, $0)
B. (.4, $100, $0)
2. Prospect C or D?
Decision (ii) Choose between:
C. (.00002, $500,000, $0) and
D. (.00001, $1,000,000, $0)
3. Are these choices consistent with expected utility

Students in a class take a quiz with eight questions. The number x of questions answered correctly can be approximated by the following probability distribution. Complete parts (a) through (e).
X 0 1 2 3 4 5 6 7 8
P(x) 0.02 0.04 0.05 0.05 0.11 0.24

Q1
In the Willow Brook National Bank waiting line system (see Problem 1), assume that the service times for the drive-up teller follow an exponential probability distribution with a service rate of 36 customers per hour or 0.6 customer per minute. Use the exponential probability distribution to answer the following questions.

A. At what point does the possibility that an event is more than coincidence become obvious? Consider this in terms of probabilitytheory and statistical significance.
We can use the probabilitytheory and statistical significance to know when the event is more than coincidental. For example, suppose the probability of dia

Means & probability
The reference desk of a university library receives requests for assistance. Assume that a Poisson probability distribution with an arrival rate of 10 requests per hour can be used to describe the arrival pattern and that service times follow an exponential probability distribution with a service rate of

Jill wants to do her MBA in Statistics at a B.C. university. She applies to two universities that offer post-graduate degrees in Statistics. Assume that the acceptance rate at University A is 25% and at University B is 35%. Further assume that acceptance at the two universities are independant events.
A) What is the probability