Business Statistics 6th Edition Levine Test Bank 1

Business Statistics 6th Edition
Levine
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Business Statistics: A First Course, 6e (Levine)

Chapter 5 Discrete Probability Distributions
1) Thirty-six of the staff of 80 teachers at a local intermediate school are certified in cardio-pulmonary
resuscitation (CPR). In 180 days of school, about how many days can we expect that the teacher on bus
duty will likely be certified in CPR?
A) 5 days
B) 45 days
C) 65 days
D) 81 days
Answer: D
Difficulty: Moderate
Keywords: binomial distribution, mean
2) A campus program evenly enrolls undergraduate and graduate students. If a random sample of four
students is selected from the program to be interviewed about the introduction of a new fast food outlet
on the ground floor of the campus building, what is the probability that all four students selected are
undergraduate students?
A) 0.0256
B) 0.0625
C) 0.16
D) 1.00
Answer: B
Difficulty: Difficult
5-1
Copyright © 2013 Pearson Education, inc. Publishing as Prentice Hall
Keywords: binomial distribution
3) A probability distribution is an equation that

A) associates a particular probability of occurrence with each outcome.
B) measures outcomes and assigns values of X to the simple events.
C) assigns a value to the variability of the set of events.
D) assigns a value to the center of the set of events.
Answer: A
Keywords: probability distribution
4) The connotation "expected value" or "expected gain" from playing roulette at a casino means
A) the amount you expect to "gain" on a single play.
B) the amount you expect to "gain" in the long run over many plays.
C) the amount you need to "break even" over many plays.
D) the amount you should expect to gain if you are lucky.
Answer: B
Difficulty: Easy
Keywords: expected value
5-2
5) Which of the following about the binomial distribution is NOT a true statement?
A) The probability of the event of interest must be constant from trial to trial.
B) Each outcome is independent of the other.
C) Each outcome may be classified as either "event of interest" or "not event of interest."
D) The random variable of interest is continuous.
Answer: D
Difficulty: Easy
Keywords: binomial distribution, properties
6) In a binomial distribution,
A) the random variable X is continuous.
B) the probability of event of interest π is stable from trial to trial.
C) the number of trials n must be at least 30.
D) the results of one trial are dependent on the results of the other trials.
Answer: B
Difficulty: Easy
7) Whenever π = 0.5, the binomial distribution will

A) always be symmetric.
B) be symmetric only if n is large.
C) be right-skewed.
D) be left-skewed.
Answer: A
8) Whenever π = 0.1 and n is small, the binomial distribution will be

A) symmetric.
B) right-skewed.
C) left-skewed.
D) none of the above
Answer: B
9) If n = 10 and π = 0.70, then the mean of the binomial distribution is ________.

A) 0.07
B) 1.45
C) 7.00
D) 14.29
Answer: C
Difficulty: Easy
5-3
10) If n = 10 and π = 0.70, then the standard deviation of the binomial distribution is ________.
A) 0.07
B) 1.45
C) 7.00
D) 14.29
Answer: B
Difficulty: Easy
Keywords: binomial distribution, standard deviation
11) If the outcomes of a random variable follow a Poisson distribution, then their
A) mean equals the standard deviation.
B) median equals the standard deviation.
C) mean equals the variance.
D) median equals the variance.
Answer: C
Difficulty: Easy
Keywords: Poisson distribution, mean, standard deviation, properties
12) What type of probability distribution will the consulting firm most likely employ to analyze the
insurance claims in the following problem?
An insurance company has called a consulting firm to determine if the company has an unusually
high number of false insurance claims. It is known that the industry proportion for false claims is 3%.
The consulting firm has decided to randomly and independently sample 100 of the company's insurance
claims. They believe the number of these 100 that are false will yield the information the company
desires.
A) binomial distribution
B) Poisson distribution
C) all of the above
Answer: A
13) What type of probability distribution will most likely be used to analyze warranty repair needs on
new cars in the following problem?
The service manager for a new automobile dealership reviewed dealership records of the past 20
sales of new cars to determine the number of warranty repairs he will be called on to perform in the next
90 days. Corporate reports indicate that the probability any one of their new cars needs a warranty repair
in the first 90 days is 0.05. The manager assumes that calls for warranty repair are independent of one
another and is interested in predicting the number of warranty repairs he will be called on to perform in
the next 90 days for this batch of 20 new cars sold.
C) all of the above
Answer: A
5-4
14) What type of probability distribution will most likely be used to analyze the number of blue
chocolate chips per bag in the following problem?
The quality control manager of a candy plant is inspecting a batch of chocolate chip bags. When the
production process is in control, the average number of blue chocolate chips per bag is 6.0. The manager
is interested in analyzing the probability that any particular bag being inspected has fewer than 5.0 blue
chocolate chips.
C) all of the above
Answer: B
Keywords: Poisson distribution, properties
15) A professor receives, on average, 24.7 e-mails from students the day before the midterm exam. To
compute the probability of receiving at least 10 e-mails on such a day, he will use what type of
probability distribution?
C) all of the above
Answer: B
16) A company has 125 personal computers. The probability that any one of them will require repair on
a given day is 0.025. To find the probability that exactly 20 of the computers will require repair on a
given day, one will use what type of probability distribution?
C) all of the above
Answer: A
17) On the average, 1.8 customers per minute arrive at any one of the checkout counters of a grocery
store. What type of probability distribution can be used to find out the probability that there will be no
customer arriving at a checkout counter?
C) all of the above
Answer: B
5-5
18) A multiple-choice test has 30 questions. There are 4 choices for each question. A student who has
not studied for the test decides to answer all questions randomly. What type of probability distribution
can be used to figure out his chance of getting at least 20 questions right?
C) all of the above
Answer: A
19) A lab orders 100 rats a week for each of the 52 weeks in the year for experiments that the lab
conducts. Suppose the mean cost of rats used in lab experiments turned out to be $13.00 per week.
Interpret this value.
A) Most of the weeks resulted in rat costs of $13.00.
B) The median cost for the distribution of rat costs is $13.00.
C) The expected or average cost for all weekly rat purchases is $13.00.
D) The rat cost that occurs more often than any other is $13.00.
Answer: C
Difficulty: Easy
Keywords: mean
20) A lab orders 100 rats a week for each of the 52 weeks in the year for experiments that the lab
conducts. Prices for 100 rats follow the following distribution:
Price: $10.00 $12.50 $15.00

Probability: 0.35 0.40 0.25
How much should the lab budget for next year's rat orders be, assuming this distribution does not
change?
A) $520
B) $637
C) $650
D) $780
Answer: B
Keywords: mean, probability distribution
21) The local police department must write, on average, 5 tickets a day to keep department revenues at
budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a
mean of 6.5 tickets per day. Interpret the value of the mean.
A) The number of tickets that is written most often is 6.5 tickets per day.
B) Half of the days have less than 6.5 tickets written and half of the days have more than 6.5 tickets
written.
C) If we sampled all days, the arithmetic average or expected number of tickets written would be 6.5
tickets per day.
D) The mean has no interpretation since 0.5 ticket can never be written.
Answer: C
Difficulty: Easy
Keywords: mean, Poisson distribution
5-6
22) True or False: The Poisson distribution can be used to model a continuous random variable.
Answer: FALSE
Difficulty: Easy
23) True or False: Another name for the mean of a probability distribution is its expected value.
Answer: TRUE
Difficulty: Easy
Keywords: mean
24) True or False: The number of customers arriving at a department store in a five-minute period has a
binomial distribution.
Answer: FALSE
Difficulty: Easy
25) True or False: The number of customers arriving at a department store in a five-minute period has a
Poisson distribution.
Answer: TRUE
Difficulty: Easy
26) True or False: The diameters of 10 randomly selected bolts have a binomial distribution.
Answer: FALSE
Difficulty: Easy
27) True or False: The largest value that a Poisson random variable X can have is n.
Answer: FALSE
28) True or False: In a Poisson distribution, the mean and standard deviation are equal.
Answer: FALSE
29) True or False: In a Poisson distribution, the mean and variance are equal.
Answer: TRUE
30) True or False: If π remains constant in a binomial distribution, an increase in n will increase the
variance.
Answer: TRUE
5-7
31) True or False: If π remains constant in a binomial distribution, an increase in n will not change the
mean.
Answer: FALSE
32) True or False: Suppose that a judge's decisions follow a binomial distribution and that his verdict is
incorrect 10% of the time. In his next 10 decisions, the probability that he makes fewer than 2 incorrect
verdicts is 0.736.
Answer: TRUE
Keywords: binomial distribution, probability
33) True or False: Suppose that the number of airplanes arriving at an airport per minute is a Poisson
process. The average number of airplanes arriving per minute is 3. The probability that exactly 6 planes
arrive in the next minute is 0.05041.
Answer: TRUE
Difficulty: Easy
Keywords: Poisson distribution, probability
TABLE 5-1
The probability that a particular type of smoke alarm will function properly and sound an alarm in the
presence of smoke is 0.8. You have two such alarms in your home and they operate independently.
34) Referring to Table 5-1, the probability that both sound an alarm in the presence of smoke is
________.
Answer: 0.64
35) Referring to Table 5-1, the probability that neither sound an alarm in the presence of smoke is
________.
Answer: 0.04
36) Referring to Table 5-1, the probability that at least one sounds an alarm in the presence of smoke is
________.
Answer: 0.96
5-8
TABLE 5-2
A certain type of new business succeeds 60% of the time. Suppose that three such businesses open
(where they do not compete with each other, so it is reasonable to believe that their relative successes
would be independent).
37) Referring to Table 5-2, the probability that all three businesses succeed is ________.
Answer: 0.216
38) Referring to Table 5-2, the probability that all three businesses fail is ________.
Answer: 0.064
39) Referring to Table 5-2, the probability that at least one business succeeds is ________.
Answer: 0.936
40) Referring to Table 5-2, the probability that exactly one business succeeds is ________.
Answer: 0.288
41) If X has a binomial distribution with n = 4 and p = 0.3, then P(X = 1) = ________.
Answer: 0.4116
Difficulty: Easy
42) If X has a binomial distribution with n = 4 and p = 0.3, then P(X > 1) = ________.
Answer: 0.3483
43) If X has a binomial distribution with n = 5 and p = 0.1, then P(X = 2) = ________.
Answer: 0.0729
Difficulty: Easy
44) Suppose that past history shows that 60% of college students prefer Brand C cola. A sample of 5
students is to be selected. The probability that exactly 1 prefers Brand C is ________.
Answer: 0.0768
Difficulty: Easy
5-9
students is to be selected. The probability that at least 1 prefers Brand C is ________.
Answer: 0.9898
students is to be selected. The probability that exactly 3 prefer Brand C is ________.
Answer: 0.3456
Difficulty: Easy
students is to be selected. The probability that exactly 4 prefer Brand C is ________.
Answer: 0.2592
Difficulty: Easy
students is to be selected. The probability that 2 or fewer prefer Brand C is ________.
Answer: 0.3174
students is to be selected. The probability that more than 3 prefer Brand C is ________.
Answer: 0.3370
students is to be selected. The probability that fewer than 2 prefer Brand C is ________.
Answer: 0.0870
students is to be selected. The average number that you would expect to prefer Brand C is ________.
Answer: 3
Difficulty: Easy
students is to be selected. The variance of the number that prefer Brand C is ________.
Answer: 1.2
Difficulty: Easy
Keywords: binomial distribution, variance
5-10
TABLE 5-3
The following table contains the probability distribution for X = the number of retransmissions necessary
to successfully transmit a 1024K data package through a double satellite media.
X 0 1 2 3
P(X) 0.35 0.35 0.25 0.05
53) Referring to Table 5-3, the probability of no retransmissions is ________.

Answer: 0.35
Difficulty: Easy
54) Referring to Table 5-3, the probability of at least one retransmission is ________.
Answer: 0.65
Difficulty: Easy
55) Referring to Table 5-3, the mean or expected value for the number of retransmissions is ________.
Answer: 1.0
Difficulty: Easy
Keywords: probability distribution, mean
56) Referring to Table 5-3, the variance for the number of retransmissions is ________.
Answer: 0.80
Difficulty: Easy
Keywords: probability distribution, variance
57) Referring to Table 5-3, the standard deviation of the number of retransmissions is ________.
Answer: 0.894
Difficulty: Easy
Keywords: probability distribution, standard deviation
58) In a game called Taxation and Evasion, a player rolls a pair of dice. If, on any turn, the sum is 7, 11,
or 12, the player gets audited. Otherwise, she avoids taxes. Suppose a player takes 5 turns at rolling the
dice. The probability that she does not get audited is ________.
Answer: 0.2373
59) In a game called Taxation and Evasion, a player rolls a pair of dice. If on any turn the sum is 7, 11,
dice. The probability that she gets audited once is ________.
Answer: 0.3955
5-11
dice. The probability that she gets audited at least once is ________.
Answer: 0.7627
dice. The probability that she gets audited no more than two times is ________.
Answer: 0.8965
dice. The expected number of times she will be audited is ________.
Answer: 1.25
Difficulty: Easy
dice. The variance of the number of times she will be audited is ________.
Answer: 0.9375
Keywords: binomial distribution, variance
dice. The standard deviation of the number of times she will be audited is ________.
Answer: 0.968
Keywords: binomial distribution, standard deviation
5-12
TABLE 5-4
The following table contains the probability distribution for X = the number of traffic accidents reported
in a day in Corvallis, Oregon.
X 0 1 2 3 4 5
P(X) 0.10 0.20 0.45 0.15 0.05 0.05
65) Referring to Table 5-4, the probability of three accidents is ________.

Answer: 0.15
Difficulty: Easy
66) Referring to Table 5-4, the probability of at least one accident is ________.
Answer: 0.90
Difficulty: Easy
67) Referring to Table 5-4, the mean or expected value of the number of accidents is ________.
Answer: 2.0
Difficulty: Easy
Keywords: probability distribution, mean,
68) Referring to Table 5-4, the variance of the number of accidents is ________.
Answer: 1.4
Difficulty: Easy
Keywords: probability distribution, variance
69) Referring to Table 5-4, the standard deviation of the number of accidents is ________.
Answer: 1.18
Difficulty: Easy
Keywords: probability distribution, standard deviation
70) The number of power outages at a nuclear power plant has a Poisson distribution with a mean of 6
outages per year. The probability that there will be exactly three power outages in a year is ________.
Answer: 0.0892
Difficulty: Easy
Keywords: Poisson distribution
outages per year. The probability that there will be at least threepower outages in a year is ________.
Answer: 0.9380
outages per year. The probability that there will be at least one power outage in a year is ________.
Answer: 0.9975
5-13
outages per year. The probability that there will be no more than one power outage in a year is
________.
Answer: 0.0174
outages per year. The probability that there will be between 1 and 3 inclusive power outages in a year is
________.
Answer: 0.1487
outages per year. The variance of the number of power outages is ________.
Answer: 6
Difficulty: Easy
76) The number of 911 calls in Butte, Montana, has a Poisson distribution with a mean of 10 calls a day.
The probability of seven 911 calls in a day is ________.
Answer: 0.0901
Difficulty: Easy
The probability of seven or eight 911 calls in a day is ________.
Answer: 0.2027
The probability of two or more 911 calls in a day is ________.
Answer: 0.9995
79) The number of 911 calls in Butte, Montana, has a Poisson distribution with a mean of 10.0 calls a
day. The standard deviation of the number of 911 calls in a day is ________.
Answer: 3.16
Difficulty: Easy
80) The Department of Commerce in a particular state has determined that the number of small
businesses that declare bankruptcy per month is approximately a Poisson distribution with a mean of
6.4. Find the probability that more than 3 bankruptcies occur next month.
Answer: 0.8811
5-14
81) The Department of Commerce in a particular state has determined that the number of small
businesses that declare bankruptcy per month is approximately a Poisson distribution with a mean of
6.4. Find the probability that exactly 5 bankruptcies occur next month.
Answer: 0.1487
Difficulty: Easy
82) The on-line access computer service industry is growing at an extraordinary rate. Current estimates
suggest that 75% of the home-based computers have access to on-line services. Suppose 20 people with
home-based computers were randomly and independently sampled. Find the probability that fewer than
10 of those sampled currently have access to on-line services.
Answer: 0.0039
83) The on-line access computer service industry is growing at an extraordinary rate. Current estimates
suggest that 75% of the home-based computers have access to on-line services. Suppose 20 people with
home-based computers were randomly and independently sampled. Find the probability that more than 9
of those sampled currently do NOT have access to on-line services.
Answer: 0.0139
84) A national trend predicts that women will account for half of all business travelers in the next three
years. To attract these women business travelers, hotels are providing more amenities that women
particularly like. A recent survey of American hotels found that 70% offer hairdryers in the bathrooms.
Consider a random and independent sample of 20 hotels. Find the probability all of the hotels in the
sample offered hairdryers in the bathrooms.
Answer: 0.0008
Consider a random and independent sample of 20 hotels. Find the probability that more than 7 but less
than 13 of the hotels in the sample offered hairdryers in the bathrooms.
Answer: 0.2264
Consider a random and independent sample of 20 hotels. Find the probability that at least 9 of the hotels
in the sample do NOT offer hairdryers in the bathrooms.
Answer: 0.1133
5-15
mean of 6.4 tickets per day. Find the probability that less than 6 tickets are written on a randomly
selected day from this population.
Answer: 0.3837
Difficulty: Easy
mean of 6.4 tickets per day. Find the probability that exactly 6 tickets are written on a randomly selected
day from this population.
Answer: 0.1586
Difficulty: Easy
TABLE 5-5
The quality control manager of Green Bulbs Inc. is inspecting a batch of energy saving compact
fluorescent light bulbs. When the production process is in control, the mean number of bad bulbs per
shift is 6.0.
89) Referring to Table 5-5, what is the probability that any particular shift being inspected has produced
4.0 bad bulbs.
Answer: 0.1339
Difficulty: Easy
fewer than 5.0 bad bulbs.
Answer: 0.2851
at least 6.0 bad bulbs.
Answer: 0.5543
between 5.0 and 8.0 inclusive bad bulbs.
Answer: 0.5622
5-16
93) Referring to Table 5-5, what is the probability that any particular shift being inspected has less than
5.0 or more than 8.0 bad bulbs.
Answer: 0.4378
TABLE 5-6
There are two houses with almost identical characteristics available for investment in two different
neighborhoods with drastically different demographic composition. The anticipated gain in value when
the houses are sold in 10 years has the following probability distribution:
94) Referring to Table 5-6, what is the expected value gain for the house in neighborhood A?
Answer: $ 12,550
Difficulty: Easy
Keywords: mean
95) Referring to Table 5-6, what is the expected value gain for the house in neighborhood B?
Answer: $ 21,300
Difficulty: Easy
Keywords: mean
96) Referring to Table 5-6, what is the variance of the gain in value for the house in neighborhood A?
Answer: 583,147,500 dollars2
Difficulty: Easy
Keywords: variance
97) Referring to Table 5-6, what is the variance of the gain in value for the house in neighborhood B?
Answer: 67,460,000 dollars2
Difficulty: Easy
Keywords: variance
98) Referring to Table 5-6, what is the standard deviation of the value gain for the house in
neighborhood A?
Answer: $24,148.45
Difficulty: Easy
Keywords: standard deviation
99) Referring to Table 5-6, what is the standard deviation of the value gain for the house in
neighborhood B?
Answer: $8,213.40
Difficulty: Easy
5-17
TABLE 5-7
Two different designs on a new line of winter jackets for the coming winter are available for your
manufacturing plants. Your profit (in thousands of dollars) will depend on the taste of the consumers
when winter arrives. The probability of the three possible different tastes of the consumers and the
corresponding profits are presented in the following table.
Probability Taste Design A Design B

0.2 more conservative 180 520
0.5 no change 230 310
0.3 more liberal 350 270
100) Referring to Table 5-7, the table above is called the ________ for the two designs.
Answer: probability distribution
Difficulty: Easy
101) Referring to Table 5-7, what is your expected profit when Design A is chosen?
Answer: $256 thousands or $256,000
Difficulty: Easy
Keywords: mean
102) Referring to Table 5-7, what is your expected profit when Design B is chosen?
Answer: $340 thousands or $340,000
Difficulty: Easy
Keywords: mean
103) Referring to Table 5-7, what is the variance of your profit when Design A is chosen?
Answer: 4,144 × 1,0002 or 4,144,000,000
Keywords: variance
104) Referring to Table 5-7, what is the variance of your profit when Design B is chosen?
Answer: 8,400 × 1,0002 or 8,400,000,000
Keywords: variance
105) Referring to Table 5-7, what is the standard deviation of your profit when Design A is chosen?
Answer: $64.37391 thousands or $64,373.91
Difficulty: Easy
106) Referring to Table 5-7, what is the standard deviation of your profit when Design B is chosen?
Answer: $91.65151 thousands or $91,651.51
Difficulty: Easy
5-18
TABLE 5-8
A major hotel chain keeps a record of the number of mishandled bags per 1,000 customers. In a recent
year, the hotel chain had 4.06 mishandled bags per 1,000 customers. Assume that the number of
mishandled bags has a Poisson distribution.
107) Referring to Table 5-8, what is the probability that in the next 1,000 customers, the hotel chain will
have no mishandled bags?
Answer: 0.0172
Difficulty: Easy
108) Referring to Table 5-8, what is the probability that in the next 1,000 customers, the chain will have
at least one mishandled bags?
Answer: 0.9828
Difficulty: Easy
have at least two mishandled bags?
Answer: 0.9127
Difficulty: Easy
110) Referring to Table 5-8, what is the probability that in the next 1,000 customer, the hotel chain will
have no more than three mishandled bags?
Answer: 0.4218
Difficulty: Easy
have no more than four mishandled bags?
Answer: 0.6171
Difficulty: Easy
have fewer than six mishandled bags?
Answer: 0.7757
Difficulty: Easy
have fewer than eight mishandled bags?
Answer: 0.9452
Difficulty: Easy
5-19
have more than eight mishandled bags?
Answer: 0.02320
Difficulty: Easy
have more than ten mishandled bags?
Answer: 0.003172
Difficulty: Easy
have between two and four inclusive mishandled bags?
Answer: 0.5298
have more than five but less than eight mishandled bags?
Answer: 0.1695
have less than two or more than eight mishandled bags?
Answer: 0.1105
have no more than two or at least eight mishandled bags?
Answer: 0.2842
have less than two and more than eight mishandled bags?
Answer: 0
have no more than two and at least eight mishandled bags?
Answer: 0
5-20
122) The probability that a particular brand of smoke alarm will function properly and sound an alarm in
the presence of smoke is 0.8. You have five such alarms in your home and they operate independently.
Which of the following distributions would you use to determine the probability that all of them will
function properly in case of a fire?
C) both of the above
Answer: A
Difficulty: Easy
Keywords: choice of distribution
123) A certain type of new business succeeds 60% of the time. Suppose that three such businesses open
(where they do not compete with each other, so it is reasonable to believe that their relative successes
would be independent). Which of the following distributions would you use to determine the probability
that all of them will fail?
Answer: A
Difficulty: Easy
124) Suppose that past history shows that 60% of college students prefer Coca-Cola®. A sample of 10
students is to be selected. Which of the following distributions would you use to figure out the
probability that at least half of them will prefer Coca-Cola®?
Answer: A
Difficulty: Easy
125) Suppose the probability of a power outage at a nuclear power plant on a single day is the same
every day of the year. Also the probability of having a power outage on a single day does not increase or
decrease the probability of a power outage on another day. Which of the following distributions would
you use to determine the probability that a power outage will occur next Monday?
Answer: B
Difficulty: Easy
5-21
126) The probability of receiving a 911 call on a university campus is the same every day. The
probability of having received a 911 call on a single day does not change the probability of receiving a
911 call on any other day. Which of the following distributions would you use to determine the
probability that a 911 call will be received next day?
Answer: B
Difficulty: Easy
127) It was believed that the probability of a small business that declared bankruptcy per month was the
same in any month. Also the number of small businesses that declared bankruptcy was the same every
month. Which of the following distributions would you use to determine the probability that more than
three bankruptcies will occur next month?
Answer: B
Difficulty: Easy
128) The probability that a particular brand of smoke alarm will malfunction in the presence of smoke is
0.002. A batch of 100,000 such alarms was produced by independent production lines. Which of the
following distributions would you use to figure out the probability that at most 5,000 of them will
malfunction in case of a fire?
Answer: B
129) Suppose that past history shows that 6% of college students prefer Brand A cola. A sample of
10,000 students is to be selected. Which of the following distributions would you use to figure out the
probability that at least half of them will prefer Brand A cola?
A) normal distribution
Answer: B
5-22
TABLE 5-9
Subscribers to Investment Advice White Letters perform security transactions at the rate of five trades
per month. Assume that one of the subscribers performs transactions at this rate and the probability of a
transaction for any two months is the same and the number of transactions in one month is independent
of the number of transactions in another month.
130) Referring to Table 5-9, what is the mean number of transactions per month for this subscriber?
Answer: 5
Difficulty: Easy
131) Referring to Table 5-9, what is the variance of the number of transactions per month for this
subscriber?
Answer: 5
Difficulty: Easy
132) Referring to Table 5-9, what is the probability that exactly ten security transactions will be
conducted in one month?
Answer: 0.0181
Difficulty: Easy
133) Referring to Table 5-9, what is the probability that at least five security transactions will be
Answer: 0.5595
134) Referring to Table 5-9, what is the probability that no more than five security transactions will be
Answer: 0.6160
135) Referring to Table 5-9, what is the probability that no security transaction will be conducted in one
month?
Answer: 0.0067
136) Referring to Table 5-9, what is the probability that more than two security transactions will be
Answer: 0.8753
5-23
137) Referring to Table 5-9, what is the probability that fewer than two security transactions will be
Answer: 0.0404
5-24

Business Statistics 6th Edition Levine Test Bank 1

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Business Statistics 6th Edition Levine Test Bank 1

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Business Statistics 6th Edition

Test bank: https://testbankpack.com/p/test-bank-for-business-statistics-6th-

Solution Manual: https://testbankpack.com/p/solution-manual-for-business-

Business Statistics: A First Course, 6e (Levine)

3) A probability distribution is an equation that

7) Whenever π = 0.5, the binomial distribution will

8) Whenever π = 0.1 and n is small, the binomial distribution will be

9) If n = 10 and π = 0.70, then the mean of the binomial distribution is ________.

Price: $10.00 $12.50 $15.00

53) Referring to Table 5-3, the probability of no retransmissions is ________.

65) Referring to Table 5-4, the probability of three accidents is ________.

Probability Taste Design A Design B

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