Mark the letter A for item 1 on your Scantron form. A_____is the probability tha

Question

Mark the letter A for item 1 on your Scantron form. A_____is the probability that one event will occur given that we know that another event already has occurred. a)simple probability b) joint probability c) conditional probability d) complement of events If two events are mutually exclusive, the probability of their union is equal to a) 0 b) 0.50 c) 1.00 d) cannot be determined. A letter is drawn randomly from the English alphabet of 26 letters. What is the probability that the letter drawn is a vowel (a, e, i, o, or u)? a)1/5 b) 1/26 c) 5/26 d)21/26 If the outcome of event A is not affected by event B, then events A and B are said to be a) mutually exclusive b) statistically independent c) democratic d) marginal If P(A) > 0 and P(B) > 0 and the events A and B are independent, which of the following must be true? a P(A) = P(B) b) P(A and B) = 0 c) P(A) + P(B) = P(A and B) d) P(A|B) = P(A) A business venture can result in the following outcomes (with their corresponding of occurring in chance parentheses): Highly successful (10%), Successful (25%), Even Disappointing (20%), and Highly Disappointing(?). If these are the only outcomes possible for the business venture, what is the chance that the business venture will be considered Highly Disappointing? a) 10% b) 15% c) 20% d) 25% The probability that a new advertising campaign will increase sales is assessed as being 0.80. The probability that the cost of developing the new ad campaign can be kept within the original budget allocation is 0.40. Assuming that the two are independent, the probability that the cost is kept with budget AND the campaign will increase sales is: a) 0.20 b) 0.32 c) 0.40 d) 1.00

Explanation / Answer

1.

2. Correct answer: Option (C) Conditional probabiltiy

3. Correct answer: Option (D) Cann't be determined

4. Correct answer: Option (C) 5/26

5. Correct answer: Option (B) Statistically Indepenedet

6. Correct answer: Option (D) P(A/B) = P(A)

7.  Correct answer: Option (C) 0.20 or 20%

8.  Correct answer: Option (B) 0.32 or 32%

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