BNAD 277 Ch05-Ch-07-Prep-Questions

Question # 00803844 Posted By: Ainsley Updated on: 04/25/2021 06:08 AM Due on: 05/19/2021
Subject General Questions Topic General General Questions Tutorials:
Question
Dot Image

Ch05 - Ch 7. prep questions

Analytical Methods for Business (University of Arizona)

lOMoARcPSD|3013804

ch05

Student:

1.        A random variable is a function that assigns numerical values to the outcomes of a random experiment.

True   False

2.        A discrete random variable X may assume an (infinitely) uncountable number of distinct values. True False

3.        A continuous random variable X assumes an (infinitely) uncountable number of distinct values. True False

4.        A probability distribution of a continuous random variable X gives the probability that X takes on a particular value xP(X = x).

True   False

5.        A cumulative probability distribution of a random variable X is the probability P(X = x), where X is equal to a particular value x.

True   False

6.        The expected value of a random variable X can be referred to as the population mean. True False

7.        The variance of a random variable X provides us with a measure of central location of the distribution of

X.

True   False

8.        The relationship between the variance and the standard deviation is such that the standard deviation is the positive square root of the variance.

True   False

9.        A risk-averse consumer may decline a risky prospect even if it offers a positive expected value. True False

10.    A risk averse consumer ignores risk and makes his/her decisions solely on the basis of expected value.

True   False

11.    Given two random variables X and Y, the expected value of their sum,   , is equal to the sum of

their individual expected values,  . True False

12.    A Bernoulli process consists of a series of n independent and identical trials of an experiment such that in each trial there are three possible outcomes and the probabilities of each outcome remain the same.

True   False

13.    A binomial random variable is defined as the number of successes achieved in n trials of a Bernoulli process.

True   False

14.    A Poisson random variable counts the number of successes (occurrences of a certain event) over a given interval of time or space.

Dot Image

Click chat on right side to get answer. Click on Chat
Whatsapp Lisa