Quiz 3 MAT500 (A++++++++++)

Quiz 3 MAT500 (A++++++++++)

Question 1

1. Probability trees are used only to compute conditional probabilities.

Answer

True

False

2 points

Question 2

Seventy two percent of all observations fall within 1 standard deviation of the mean if the data is normally distributed.

Answer

True

False

2 points

Question 3

If two events are not mutually exclusive, then P(A or B) = P(A) + P(B)

Answer

True

False

2 points

Question 4

The Hurwicz criterion is a compromise between the minimax and minimin criteria.

Answer

True

False

2 points

Question 5

Using the minimax regret criterion, we first construct a table of regrets. Subsequently, for each possible decision, we look across the states of nature and make a note of the maximum regret possible for that decision. We then pick the decision with the largest maximum regret.

Answer

True

False

2 points

Question 6

The equal likelihood criterion assigns a probability of 0.5 to each state of nature, regardless of how many states of nature there are.

Answer

True

False

2 points

Question 7

Both maximin and minimin criteria are optimistic.

Answer

True

False

2 points

Question 8

The chi-square test is a statistical test to see if an observed data fit a _________.

Answer

Normal probability distribution

continuous probability distribution

particular probability distribution

All of the above

2 points

Question 9

Assume that it takes a college student an average of 5 minutes to find a parking spot in the main parking lot. Assume also that this time is normally distributed with a standard deviation of 2 minutes. Find the probability that a randomly selected college student will take between 2 and 6 minutes to find a parking spot in the main parking lot.

Answer

0.1950

0.4772

0.4332

0.6247

2 points

Quiz 3 MAT500 (A++++++++++)