Академический Документы
Профессиональный Документы
Культура Документы
2outof2points
Probabilitytreesareusedonlytocomputeconditionalprobabilities.
Answer
SelectedAnswer:
False
CorrectAnswer:
False
Question2
2outof2points
Iftwoeventsarenotmutuallyexclusive,thenP(AorB)=P(A)+P(B)
Answer
SelectedAnswer:
False
CorrectAnswer:
False
Question3
2outof2points
Seventytwopercentofallobservationsfallwithin1standarddeviationofthemeanifthedata
isnormallydistributed.
Answer
SelectedAnswer:
False
CorrectAnswer:
False
Question4
2outof2points
TheHurwiczcriterionisacompromisebetweenthemaximaxandmaximincriteria.
Answer
SelectedAnswer:
True
CorrectAnswer:
True
Question5
2outof2points
Themaximinapproachinvolveschoosingthealternativewiththehighestorlowestpayoff.
Answer
SelectedAnswer:
False
CorrectAnswer:
False
Question6
2outof2points
Theminimincriterionisoptimistic.
Answer
SelectedAnswer:
True
CorrectAnswer:
True
Question7
2outof2points
Bothmaximinandminimincriteriaareoptimistic.
Answer
SelectedAnswer:
False
CorrectAnswer:
False
Question8
2outof2points
Aprofessorwouldliketoutilizethenormaldistributiontoassigngradessuchthat5%of
studentsreceiveA's.Iftheexamaverageis62withastandarddeviationof13,whatgrade
shouldbethecutoffforanA?(Roundyouranswer.)
Answer
SelectedAnswer:
83
CorrectAnswer:
83
Question9
2outof2points
Themetropolitanairportcommissionisconsideringtheestablishmentoflimitationsonnoise
pollutionaroundalocalairport.Atthepresenttime,thenoiselevelperjettakeoffinone
neighborhoodneartheairportisapproximatelynormallydistributedwithameanof100
decibelsandastandarddeviationof3decibels.Whatistheprobabilitythatarandomly
selectedjetwillgenerateanoiselevelofmorethan105decibels?
Answer
SelectedAnswer:
0.0475
CorrectAnswer:
0.0475
Question10
2outof2points
Thechisquaretestisastatisticaltesttoseeifanobserveddatafita_________.
Answer
SelectedAnswer:
Alloftheabove
CorrectAnswer:
Alloftheabove
Question11
2outof2points
Themaximincriterionresultsinthe
Answer
SelectedAnswer:
maximumoftheminimumpayoffs
CorrectAnswer:
maximumoftheminimumpayoffs
Question12
2outof2points
Agroupoffriendsareplanningarecreationaloutingandhaveconstructedthefollowingpayoff
tabletohelpthemdecidewhichactivitytoengagein.Assumethatthepayoffsrepresenttheir
levelofenjoymentforeachactivityunderthevariousweatherconditions.
Weather
ColdWarmRainy
S1S2S3
Bike:A11086
Hike:A214152
Fish:A3789
Whatistheconservativedecisionforthissituation?
Answer
SelectedAnswer:
A3
CorrectAnswer:
A3
Question13
2outof2points
Abusinessowneristryingtodecidewhethertobuy,rent,orleaseofficespaceandhas
constructedthefollowingpayofftablebasedonwhetherbusinessisbriskorslow.
Themaximaxstrategyis:
Answer
SelectedAnswer:
Buy
CorrectAnswer:
Buy
Question14
2outof2points
Abusinessowneristryingtodecidewhethertobuy,rent,orleaseofficespaceandhas
constructedthefollowingpayofftablebasedonwhetherbusinessisbriskorslow.
Themaximinstrategyis:
Answer
SelectedAnswer:
Lease
CorrectAnswer:
Lease
Question15
2outof2points
Abrandoftelevisionhasalifetimethatisnormallydistributedwithameanof7yearsanda
standarddeviationof2.5years.WhatistheprobabilitythatarandomlychosenTVwilllast
morethan8years?Note:Writeyouranswerswithtwoplacesafterthedecimal,roundingoffas
appropriate.
Answer
SelectedAnswer:
0.34
CorrectAnswer:
EvaluationMethod
CorrectAnswer
ExactMatch
0.34
ExactMatch
.34
CaseSensitivity
Question16
2outof2points
Alifeinsurancecompanywantstoupdateitsactuarialtables.Assumethattheprobability
distributionofthelifetimesoftheparticipantsisapproximatelyanormaldistributionwitha
meanof71yearsandastandarddeviationof3.5years.Whatproportionoftheplan
participantsareexpectedtoseetheir75thbirthday?Note:Writeyouranswerswithtwoplaces
afterthedecimal,roundingoffasappropriate.
Answer
SelectedAnswer:
0.13
CorrectAnswer:
EvaluationMethod
CorrectAnswer
ExactMatch
0.13
ExactMatch
.13
CaseSensitivity
Question17
2outof2points
Agroupoffriendsareplanningarecreationaloutingandhaveconstructedthefollowingpayoff
tabletohelpthemdecidewhichactivitytoengagein.Assumethatthepayoffsrepresenttheir
levelofenjoymentforeachactivityunderthevariousweatherconditions.
Weather
ColdWarmRainy
S1S2S3
Bike:A11086
Hike:A214152
Fish:A3789
Iftheprobabilitiesofcoldweather(S1),warmweather(S2),andrainyweather(S3)are0.2,0.4,
and0.4,respectivelywhatistheEVPIforthissituation?
Answer
SelectedAnswer:
2.8
CorrectAnswer:
EvaluationMethod
CorrectAnswer
ExactMatch
CaseSensitivity
2.8
Question18
2outof2points
Amanagerhasdevelopedapayofftablethatindicatestheprofitsassociatedwithasetof
alternativesunder2possiblestatesofnature.
AltS1S2
1102
228
385
Whatisthehighestexpectedvalue?AssumethattheprobabilityofS2isequalto0.4.
Answer
SelectedAnswer:
6.8
CorrectAnswer:
EvaluationMethod
ExactMatch
Question19
2outof2points
CorrectAnswer
6.8
CaseSensitivity
Considerthefollowingdecisiontree.
Whatistheexpectedvalueforthebestdecision?Roundyouranswertothenearestwhole
number.
Answer
SelectedAnswer:
2100
CorrectAnswer:
EvaluationMethod
CorrectAnswer
ExactMatch
$2100
ExactMatch
$2,100
ExactMatch
2100
ExactMatch
2,100
CaseSensitivity
Question20
2outof2points
ThequalitycontrolmanagerforENTAInc.mustdecidewhethertoaccept(a1),furtheranalyze
(a2)orreject(a3)alotofincomingmaterial.Assumethefollowingpayofftableisavailable.
Historicaldataindicatesthatthereis30%chancethatthelotispoorquality(s1),50%chance
thatthelotisfairquality(s2)and20%chancethatthelotisgoodquality(s3).
Whatisthenumericalvalueoftheminimaxregret?
Answer
SelectedAnswer:
50
CorrectAnswer:
EvaluationMethod
ExactMatch
CorrectAnswer
50
CaseSensitivity