Data Analysis And Decision Making 4th Edition By S. Christian Albright – Test Bank
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The total area under the normal distribution curve is equal to one. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The number of loan defaults per month at a bank is Poisson distributed. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The variance of a binomial distribution is given by the formula, where n is the number of trials, and p is the probability of success in any trial. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
If the random variable X is normally distributed with mean and standard deviation , then the random variable Z defined by is also normally distributed with mean 0 and standard deviation 1. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
Much of the study of probabilistic inventory models, queuing models, and reliability models relies heavily on the Poisson and Exponential distributions. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
Using the standard normal distribution, the Z-score representing the 5th percentile is 1.645. ANS: F PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The Poisson probability distribution is one of the most commonly used continuous probability distributions. ANS: F PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
Poisson distribution is appropriate to determine the probability of a given number of defective items in a shipment. ANS: F PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The binomial distribution is a continuous distribution that is not far behind the normal distribution in order of importance. ANS: F PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The binomial distribution is a discrete distribution that deals with a sequence of identical trials, each of which has only two possible outcomes. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
A binomial distribution with n number of trials, and probability of success p can be approximated well by a normal distribution with mean np and variance if np > 5 and n(1-p) > 5. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
For a given probability of success p that is not too close to 0 or 1, the binomial distribution tends to take on more of a symmetric bell shape as the number of trials n increases. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The Poisson distribution is characterized by a single parameter, which must be positive. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
An exponential distribution with parameter = 0.2 has mean and standard deviation both equal to 5. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The binomial random variable represents the number of successes that occur in a specific period of time. ANS: F PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
A random variable X is standardized when each value of X has the mean of X subtracted from it, and the difference is divided by the standard deviation of X. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
Using the standard normal distribution, the Z– score representing the 99th percentile is 2.326. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The mean and standard deviation of a normally distributed random variable which has been “standardized” are zero and one, respectively. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
Using the standard normal curve, the Z– score representing the 75th percentile is 0.674. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
A random variable X is normally distributed with a mean of 175 and a standard deviation of 50. Given that X = 150, its corresponding Z– score is –0.50. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The binomial distribution deals with consecutive trials, each of which has two possible outcomes. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The Poisson distribution is applied to events for which the probability of occurrence over a given span of time, space, or distance is very small. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The Poisson random variable is a discrete random variable with infinitely many possible values. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
The variance of a binomial distribution for which n = 50 and p = 0.20 is 8.0. ANS: T PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
Using the standard normal curve, the Z– score representing the 10th percentile is 1.28. ANS: F PTS: 1 MSC: AACSB: Analytic | AACSB: Probability Distributions
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