YAI 20

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i70) 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 between 20.75 and 23.25 oz?

71) 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 between 21.75 and 22.25 oz?

72) 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 24 oz?

73) 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 22.25 oz?

74) A life insurance company wants to estimate their annual payouts. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 4 years. What proportion of the plan recipients would receive payments beyond age 75?

75) A life insurance company wants to estimate their annual payouts. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 4 years. What proportion of the participants die before they reach the age of 65?

76) A life insurance company wants to estimate their annual payouts. Assume that the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 4 years. By what age have 80% of the plan participants pass away?

77) For the normal distribution, the mean plus and minus 1.96 standard deviations will include what percent of the observations?

78) What is the area under the normal curve for ≥ 1.79?

79) A study of a company’s practice regarding the payment of invoices revealed that on the average an invoice was paid 20 days after it was received. The standard deviation equaled 5 days. Assuming that the distribution is normal, what percent of the invoices is paid within 15 days of receipt?

80) The owner of a seafood market determined that the average weight for a crab is 1.6 pounds with a standard deviation of 0.4 pound. Assuming the weights of the crab are normally distributed, what is the probability that a randomly selected crab will weigh more than 2 .2 pounds?
Answer: 0.0668
81) The owner of a seafood market determined that the average weight for a crab is 1.6 pounds with a standard deviation of 0.4 pound. Assuming the weights of crab are normally distributed, what is the probability that a randomly selected crab will weigh between 1 and 2 pounds?

82) The owner of a seafood market determined that the average weight for a crab is 1.6 pounds with a standard deviation of 0.4 pound. Assuming the weights of crab are normally distributed, the probability that a randomly selected crab will weigh less than 1.2 pounds is __________.

83) Assume that X is a normally distributed random variable with a mean of 50 and a standard deviation of 2. Find the probability that X is between 48 and 55.

84) A paint manufacturer’s production process is normally distributed with a mean of 100,000 gallons and a standard deviation of 10,000 gallons. Management wants to create an incentive bonus for the production crew when the daily production exceeds the 94th percentile of the distribution. At what level of production should management pay the incentive bonus?
Answer: z = 1.56, so incentive level is 115,600 gallons
An online sweepstakes has the following payoffs and probabilities. Each person is limited to one entry.

85) The probability that someone wins any money is ________.
Answer: 0.1166
86) The probability of winning at least $1,000.00 is ________.

87) __________ techniques assume that no uncertainty exists in model parameters.
A) Probability
B) Probabilistic
C) Deterministic
D) Distribution

88) __________ probability is an estimate based on personal belief, experience, or knowledge of a situation.
A) Binomial
B) Subjective
C) Marginal
D) Joint

89) Objective probabilities that can be stated prior to the occurrence of an event are
A) subjective
B) a priori
C) classical or a priori
D) none of the above

90) 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

91) In a given experiment the probabilities of mutually exclusive events sum to
A) 0
B) 0.5
C) 1
D) none of the above

92) A __________ probability is the probability of a single event occurring.
A) subjective
B) binomial
C) marginal
D) joint

93) A frequency distribution is an organization of __________ data about the events in an experiment.
A) quantitative
B) numerical
C) qualitative
D) A and B

94) P(A U B) is the probability that __________ will occur.
A) A
B) B
C) A and B
D) A or B or both

95) Jim is considering pursuing an MS in Information Systems degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 20% for University X and 45% for University Y. What is the probability that Jim will be accepted at both universities?
A) .65
B) .25
C) .20
D) 09
E) .05

96) Jim is considering pursuing an MS in Information Systems degree. He has applied to two different universities. The acceptance rate for applicants with similar qualifications is 20% for University X and 45% for University Y. What is the probability that Jim will not be accepted at either university?
A) .20
B) .30
C) .36
D) .44
E) 56

97) Employees of a local company are classified according to gender and job type. The following table summarizes the number of people in each job category.
Male (M) Female (F)
Job
Administrative (AD) 110 10
Salaried staff (SS) 30 50
Hourly staff (HS) 60 40
If an employee is selected at random, what is the probability that the employee is female or works as a member of the administration
A) .1667
B) .60
C) .67
D) .70
E) .73

98) A __________ probability distribution indicates the probability of r successes in n trials.
A) joint
B) subjective
C) marginal
D) binomial

99) The probability of independent events occurring in succession is computed by __________ the probabilities of each event.
A) multiplying
B) adding
C) subtracting
D) dividing

100) A __________ probability is the probability that an event will occur given that another event has already occurred.
A) subjective
B) objective
C) conditional
D) binomial

101) In Bayesian analysis, additional information is used to alter the __________ probability of the occurrence of an event.
A) marginal
B) conditional
C) binomial
D) revised