Heading: The Characteristics of Markov Analysis Key words: Markov analysis 9) The brand-switching problem analyzes the probability of customers’ changing brands of a product over time. Answer: TRUE Diff: 2 Main Heading: The Characteristics of Markov Analysis Key words: brand-switching problem‚ Markov analysis 10) Markov analysis provides information on the probability of customers switching from one brand to one or more other brands. Answer: TRUE Diff: 1 Main Heading: The Characteristics
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Week 1 quiz Week 1‚ Quiz 1 Points Received 40/40 (100%) 1. Total cost equal the fixed cost plus the variable cost per unit divided by volume • True • False 2. Objective probabilities that can be stated prior to the occurrence of an event are • Subjective • A priori • Classical or a priori • None of the above 3. An experiment is an activity that results in one of several possible outcomes. • True
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------------------------------------------------- Top of Form Bottom of Form Wallace State Community College Business Statistics I BUS 271‚ 3 Credit Hours Spring Semester 2013 Step One: Read the syllabus carefully. Step Two: E-mail your instructor‚ in Blackboard through the email/message area; this will be a tab on left side of your homepage in blackboard. Select create message. Browse for recipient‚ Terri McGriff-Waldrop‚ select and fill in the subject line with the topic title‚ Syllabus
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points each) T F 1. The probability that X takes on a value that is between 3 and inclusive of 4 can be written as P(3 < X ( 4). T F 2. P(X > x ) + P(X < x) + P(X = x) = 1. T F 3. If P(X > x) = 0.34 and P(X = x) = 0.10‚ then P(X ( x) = 0.56. T F 4- Using the classical viewpoint‚ the probability of an event happening is defined as the number of favorable outcomes divided by the total number of possible outcomes. T F 5- The probability assigned to an event that
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subcomponent (cm). Then if the machine is operating correctly‚ X ~ N (117‚ 2.12 ) . (i) find the probability that one randomly selected unit has a length greater than 120 cm; X −µ 120 − 117 ) = P( Z > 1.4286) ≈ P( Z > 1.43) σ 2.1 = 1 − P( Z < 1.43) = 1 − 0.9236 = 0.0764 X: P( X > 120) = P( > Alternative solution: P ( Z > 1.43) = P ( Z < −1.43) = 0.0764 (ii) Z: 117 120 0 1.43 find the probability that if three units are randomly selected‚ their mean length exceeds 120 cm; Let X = mean length
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|proficiency. | |Vocabulary: |Visuals‚ Materials & Texts: | |probability‚ event‚ outcome‚ sample space‚ tree diagram |graphing calculators‚ dice‚ coins‚ poster of tree diagram‚ index | | |cards for visual/verbal
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Answer: False Correct Answer: False Question 5 If events A and B are independent‚ then P(A|B) = P(B|A). Answer Selected Answer: False Correct Answer: False Question 6 A binomial probability distribution indicates the probability of r successes in n trials. Answer Selected Answer: True Correct Answer: True Question 7 The events in an experiment are mutually exclusive if only one can occur at a time. Answer
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|P(X = x) |X(P(X = x) | |0 |0.3 | | |1 |0.2 | | |2 | | | |3 |0.4 | | a. Find the probability that X = 2. b. Find the expected value. Exercise 2 Suppose that you are offered the following “deal.” You roll a die. If you roll a 6‚ you win $10. If you roll a 4 or 5‚ you win $5. If you roll a 1‚ 2‚ or 3‚ you pay $6. a. What
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the honor code pledge printed on your bluebook. No books‚ notes or electronic devices of any kind are allowed. Show all work‚ justify your answers. 1. (25 pts) Suppose events A‚ B and C‚ all defined on the same sample space‚ have the following probabilities: P(A) = 0.22‚ P(B) = 0.25‚ P(C) = 0.28‚ P(A ∩ B) = 0.11‚ P(A ∩ C) = 0.05‚ P(B ∩ C) = 0.07 and P(A ∩ B ∩ C) = 0.01. For each of the following parts‚ your answer should be in the form of a complete mathematical statement. (a) Let D be the event that
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UNIVERSITI TEKNOLOGI P E T RO NA S @t C OU R S E DATE TIME . GA B 2O13 B2133BUSINESS / SM STATISTTCS / QUANTITATIVE METHOD 27 MAY2008(TUESDAY) 2 .3 0PM- 5.30PM ( 3 hour s) INSTRUCTIONS CANDIDATES TO 1. 2. 3. 4. 5. Answer FIVE(5)outof SIX(6)questions theQuestion from Booklet. BeginEACHanswer a newpagein theAnswer on Booklet. lndicate clearly answers arecancelled‚any. that if Whereapplicable‚ showclearly stepstakenin arriving the solutions at and indicate ALL assumptions. Do notopenthisQuestion
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