Statistics for business and Economics

First year 2023

Class (5)After midterm

Test bank continue
B 61. There are three Democrats and four Republicans in a group of seven people. If
two people are selected from the total of seven, how many ways can two people be
selected?

E A. 12
Calc B. 21
C. 14
D. 15
Sol
7C2= 21
A 62. There are three Democrats and four Republicans in a group of seven people. If
two people are selected from the total of seven, how many ways can two
Democrats be selected?

E A. 3
Calc B. 6
C. 2
D. 1
Sol
3C2 = 3
C 63. There are three Democrats and four Republicans in a group of seven people. If
three people are selected from the total of seven, how many ways can two
Democrats and one Republican be selected?

M A. 7
Calc B. 14
C. 12
D. 21
Sol
(3C2)(4C1) = 12

D 64. A baseball player has a .300 batting average (i.e. there is a 30% chance of a hit on
any at bat). What is the probability that this player gets hits on each of his next 3
at bats?

E A. 0.900
Calc B. 0.300
C. 0.333
D. 0.027

0.3*0.3*0.3= = 0.027
1 Eng: Ameer El3tma
 Statistics for business and Economics
First year 2023

A 65.A baseball player has a .300 batting average (i.e. there is a 30% chance of a hit on any at
bat). What is the probability that this player gets hits on each of his next 2 at bats and then makes
an out on the next at bat?

E A. 0.063
Calc B. 0.670
C. 0.090
D. 0.210
Sol
0.3*0.3*0.7 = 0.063

B 66- An automobile dealer wishes to investigate the relation between the gender of the
buyer and type of vehicle purchased. The following joint probability table was developed
from the dealer’s records for the previous year

66-P(Male) = _____________.

E A. 0.48
BCalc B. 0.60
C. 0.20
D. 0.02
Sol
P(Male )= 0.6

D 67.An automobile dealer wishes to investigate the relation between the gender of the buyer
and type of vehicle purchased. The following joint probability table was developed from the
dealer’s records for the previous year.

67- P(Female  SUV) = _____________.

E A. 0.30
BCalc B. 0.40
C. 0.12
D. 0.10

68-P(Female) = _____________.

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 Statistics for business and Economics
First year 2023

E A. 0.30
BCalc B. 0.40
C. 0.12
D. 0.10 Ans: B
69-P(SUV) = _____________.

E A. 0.30
BCalc B. 0.40
C. 0.12
D. 0.10 Ans:A

70-Are “Female” and “SUV” independent and why or why not?

M A. no, because P(Female  SUV) = P(Female) · P(SUV)

BCalc B. no, because P(SUV) cannot be calculated from this information
C. yes, because P(Female | SUV) = P(Female)
D. yes, because P(Female  SUV)  0 Ans: B

Sol

67-P(Female  SUV) =0.1

68-P(Female) =0.4
69-P(SUV) =0.3
70-P(F).P(SUV)= 0.4*0.3=0.12 ≠ P(Female  SUV)which is = 0.1

D 71.Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified the
portfolio stocks by 'industry sector' and 'investment objective.'

Investment Industry Sector

Objective Electronics Airlines Healthcare Total
Growth 100 10 40 150
Income 20 20 10 50
Total 120 30 50 200
If a stock is selected randomly from Meagan's portfolio, P(Growth) = _______.

E A. 0.50
BCalc B. 0.83
C. 0.67
D. 0.75 Ans: D

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 Statistics for business and Economics
First year 2023

Sol

150
P(Growth) = = 0.75
200

72-If a stock is selected randomly from Meagan's portfolio, P(Healthcare) = _______.

E A. 0.25
BCalc B. 0.80
C. 0.20
D. 0.75 Ans:A

50
P(Healthcare) = =0.25
200

73-If a stock is selected randomly from Meagan's portfolio, P(Healthcare È Electronics) =

_______.

M A. 0.25
BCalc B. 0.85
C. 0.60
D. 0.75 Ans: B
Ans

120
P(Healthcare È Electronics) = P(H)+P(E) -P(H∩ E ) = 0.25+ - 0 = 0.85
200

74-If a stock is selected randomly from Meagan's portfolio, P(Growth È Income) = _______.

M A. 1.00
BCalc B. 0.65 C. 0.25 D. 0.85 Ans: A

Sol

50
P(Growth È Income) = P(G)+P(I)-P(G∩ I) = 0.75+ 200 -0 = 1

75-If a stock is selected randomly from Meagan's portfolio, P(Airlines|Income) = _______.

H A. 0.10
BCalc B. 0.40
C. 0.25
D. 0.67 Ans: B
Sol
P ( A ∩ I ) 20/200
P(Airlines|Income) = = = 0.4
P( I ) 50/200

76-If a stock is selected randomly from Meagan's portfolio, P(Growth|Healthcare) = _____.

4 Eng: Ameer El3tma

 Statistics for business and Economics
First year 2023

H A. 0.25
BCalc B. 0.40
C. 0.20 D. 0.80 Ans: D
Sol

40 /200
P(Growth|Healthcare)= P ¿ ¿ = = 0.8
50/200

77-Which of the following is NOT true?

M A. Growth and Income are complementary events.

BApp B. Electronics and Growth are dependent.
C. Electronics and Healthcare are mutually exclusive.
D. Airlines and Healthcare are collectively exhaustive. Ans: D

B 78. Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified
the portfolio stocks by 'industry sector' and 'investment objective.'

Investment Industry Sector

Objective Electronics Airlines Healthcare Total
Growth 84 21 35 140
Income 36 9 15 60
Total 120 30 50 200
Which of the following is true?

M A. Growth and Healthcare are complementary events.

BApp B. Electronics and Growth are independent.
C. Electronics and Growth are mutually exclusive.
D. Airlines and Healthcare are collectively exhaustive. Ans:B

Sol
120 140 84
P(E)= 200 = 0.6 , P(G) = 200 =¿0.7 , P(E∩ G)= 200 =0.42
P(E) *P(G)= 0.6×0.7=0.42 = P(E∩ G)

A 79.Meagan Dubean manages a portfolio of 200 common stocks. Her staff classified
the portfolio stocks by 'industry sector' and 'investment objective.'
Investment Industry Sector
Objective Electronics Airlines Healthcare Total
Growth 84 21 35 140
Income 36 9 15 60
Total 120 30 50 200
Are “Healthcare” and “Income” independent and why or why not?

M A. yes, because P(Healthcare | Income) = P(Healthcare)

BCalc B. no, because P(Healthcare)  P(Income)
C. no, because P(Income  Healthcare) = P(Healthcare) · P(Income)
D. yes, because P(Income  Healthcare)  0
5 Eng: Ameer El3tma
 Statistics for business and Economics
First year 2023

B 80. The table below provides summary information about students in a class. The sex
of each individual and the major is given.
Male Female Total
Accounting 12 18 30
Finance 10 8 18
Other 26 26 52
Total 48 52 100
If a student is randomly selected from this group, what is the probability that the
student is male?

E A. 0.12
Calc B. 0.48
C. 0.50
D. 0.52
Sol
P(Male) = 48/100=0.48

81-If a student is randomly selected from this group, what is the probability that the student is a
female who majors in accounting?

E A. 0.18
Calc B. 0.60
C. 0.35
D. 0.40 Ans: A
Sol
P(Female ∩Aaccounting )= 18/100=0.18

82- A student is randomly selected from this group, and it is found that the student is majoring in
finance. What is the probability that the student is a male?

H A. 0.21
Calc B. 0.10
C. 0.56
D. 0.48 Ans:C
Sol
P (male ∩ finance) 10/100
P(Male/finance) = = = 0.56
p(finance) 18/100

83-A student is randomly selected from this group, and it is found that the student is a male.
What is the probability that the student is majoring in accounting?

H A. 0.30
Calc B. 0.40
C. 0.12
D. 0.25 Ans:D

6 Eng: Ameer El3tma

 Statistics for business and Economics
First year 2023

Sol

P (male ∩ accounting) 12/100

P(accounting/ male)= = = 0.25
p (male) 48 /100
84-A student is randomly selected from this group. Let A be the event that the student is an
accounting major and let F be the event that the student is female. Find P(F and A).

A. 0.18
B. 0.156
C. 0.52
D. 0.30 Ans: A

85-A student is randomly selected from this group. Let A be the event that the student is an
accounting major and let F be the event that the student is female. Are A and F independent and
why or why not?

M A.
yes, because there are some male accounting majors
App B.
no, because there are some male accounting majors
C.
no, because P(A|F) does not equal P(A)
D.
no, because P(A|F) does not equal P(F) Ans: C
Sol
30 52 18
P(A)= 100 = 0.3 , P(F) = 100 =¿0.52 , P(A∩ F)= 100 =0.18
P(A) *P(F)= 0.3×0.52=0.156 ≠ P(A∩ F) , two events are not independent

A 99.Given P(A) = 0.6, P(B) = 0.4, P(A Ç B)=0.24. Which of the following statements is true?

M A. P(A|B) = 0.60
Calc B. P(A|B) = 0.40
C. P(B|A) = 0.60
D. A and B are mutually exclusive

C 100. Given P(A) = 0.6, P(B) = 0.4, P(A|B)=0.50. Which of the following statements is true?

M A. A and B are independent

Calc B. P(A Ç B) = .30
C. P(A Ç B) = .20
D. none of the above is true
Sol

P ( A ∩B) P ( A ∩B)
P(A/B)=
P( B)
= 0.4
= 0.50

P ( A ∩B )=¿0.5*0.4=0.2

B 101. Given P(A) = 0.6, P(B) = 0.4, P(A|B)=0.50. Find P(A È B).

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 Statistics for business and Economics
First year 2023

M A. 1.00
Calc B. 0.80
C. 1.10
D. 0.1 P(A∪B)= P(A)+P(B)-p(A∩B ) = 0.6+0.4 -0.2 = 0.8

8 Eng: Ameer El3tma