Question 1. 1.

A production process is known to produce a particular item in such a way that 5 percent of these are defective. If two items are randomly selected as they come off the production line, what is the probability that both are defective (assuming that they are independent)?

0.0100

0.1000

0.2000

0.0025

0.0250

Question 2. 2.

Which distribution is helpful in testing hypotheses about variances?

binomial distribution

F distribution

normal distribution

Poisson distribution

exponential distribution

Question 3. 3.

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course. Of these 200 students, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students enrolled in accounting but not enrolled in statistics. If a business student is selected at random, what is the probability that the student is enrolled in statistics?

0.05

0.20

0.25

0.30

None of the above

Question 4. 4. The number of cars passing through an intersection in the next five minutes can usually be described by the (Points : 4)

normal distribution.

uniform distribution.

exponential distribution

Poisson distribution.

None of the above

Question 5. 5.

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course. Of these 200 students, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students enrolled in accounting but not enrolled in statistics. If a business student is selected at random, what is the probability that the student is either enrolled in accounting or statistics, but not both?

0.45

0.50

0.40

0.05

Question 6. 6.

The number of phone calls coming into a switchboard in the next five minutes will either be 0, 1, 2, 3, 4, 5, or 6. The probabilities are the same for each of these (1/7). If X is the number of calls arriving in a five-minute time period, what is the mean of X?

2

3

4

5

None of the above

Question 7. 7.

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course. Of these 200, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students enrolled in accounting but not enrolled in statistics. If a business student is selected at random, what is the probability that the student is enrolled in neither accounting nor statistics?

0.45

0.50

0.55

0.05

None of the above

Question 8. 8.

Historical data indicates that only 20% of cable customers are willing to switch companies. If a binomial process is assumed, then in a sample of 20 cable customers, what is the probability that no more than 3 customers would be willing to switch their cable?

0.85

0.15

0.20

0.411

0.589

Question 9. 9.

Suppose that when the temperature is between 35 and 50 degrees, it has historically rained 40% of the time. Also, historically, the month of April has had a temperature between 35 and 50 degrees on 25 days. You have scheduled a golf tournament for April 12. What is the probability that players will experience rain and a temperature between 35 and 50 degrees?

0.333

0.400

0.833

1.000

0.480

Question 10. 10. The ability to examine the variability of a solution due to changes in the formulation of a problem is an important part of the analysis of the results. This type of analysis is called ________ analysis.

Implicit

Normal

Scale

Objective

sensitivity

Question 11. 11.

Properties of the normal distribution include

a continuous bell-shaped distribution.

a discrete probability distribution.

the number of trials is known and is either 1, 2, 3, 4, 5, etc.

the random variable can assume only a finite or limited set of values.

use in queuing.

Question 12. 12.

The number of cell phone minutes used by high school seniors follows a normal distribution with a mean of 500 and a standard deviation of 50. What is the probability that a student uses fewer than 600 minutes?

0

0.023

0.841

0.977

None of the above

Question 13. 13.

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course. Of these 200 students, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students enrolled in accounting but not enrolled in statistics. If a business student is selected at random, what is the probability that the student is enrolled in both statistics and accounting?

0.05

0.06

0.20

0.25

None of the above

Question 14. 14.

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course. Of these 200 students, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students enrolled in accounting but not enrolled in statistics. If a business student is selected at random and found to be enrolled in statistics, what is the probability that the student is also enrolled in accounting?

0.05

0.30

0.20

0.25

None of the above

Question 15. 15.

A ________ is a numerical statement about the likelihood that an event will occur.

mutually exclusive construct

collectively exhaustive construct

variance

probability

standard deviation

Question 16. 16.

The classical method of determining probability is

subjective probability.

marginal probability.

objective probability.

joint probability.

conditional probability.

Question 17. 17. Trying various approaches and picking the one that results in the best decision is called (Points : 4)

the trial-and-error method.

incomplete enumeration.

complete enumeration.

algorithmic approximation.

sensitivity analysis.

Question 18. 18. A(n) ________ is a representation of reality or a real-life situation. (Points : 4)

Objective

Model

Analysis

Algorithm

None of the above

Question 19. 19.

At a university with 1,000 business majors, there are 200 business students enrolled in an introductory statistics course. Of these 200, 50 are also enrolled in an introductory accounting course. There are an additional 250 business students enrolled in accounting but not enrolled in statistics. If a business student is selected at random, what is the probability that the student is not enrolled in statistics?

0.05

0.20

0.25

0.80

None of the above

Question 20. 20.

Drivers arrive at a toll booth at a rate of 3 per minute during peak traffic periods. The time between consecutive driver arrivals follows an exponential distribution. What is the probability that takes less than 1/2 of a minute between consecutive drivers?

0.167

0.223

0.777

0.5

Question 21. 21.

Suppose that 10 golfers enter a tournament and that their respective skill levels are approximately the same. Six of the entrants are female and two of those are older than 40 years old. Three of the men are older than 40 years old. What is the probability that the winner will be a female who is older than 40 years old?

0.000

1.100

0.198

0.200

0.900

Question 22. 22.

Postoptimality analysis is most closely associated with

collecting input data.

developing a model.

sensitivity analysis.

writing a computer program.

None of the above

Question 23. 23.

The break-even point is an example of a

postoptimality model.

quantitative analysis model.

schematic model.

sensitivity analysis model.

None of the above

Question 24. 24.

Testing the data and model should be done before the results have been analyzed.

True

False

Question 25. 25. Which of the following statement(s) are true regarding the advantages of mathematical modeling?

Models accurately represent reality.

Models can help decision makers formulate problems

Models can save time.

Models may be the only way to solve some large and complex problems in a timely manner.

All of the above