Managerial Statistics Practice test


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1) If A and B are mutually exclusive events then
2) which of the following is a correct statement?
3) An experiment consists of making 80 telephone calls in order to sell a particular insurance policy. The random variable in this experiment is a
4) Which of the following is not a property of a binomial experiment?
5) If you are told a population has a mean of 25 and a variance of 0, what must you conclude?
6) If two events (both with probability greater than 0) are mutually exclusive, then
7) Suppose that a quiz consists of 20 True-False questions. A student hasn't studied for the exam and will just randomly guesses at all answers (with True and False equally likely). How would you find the probability that the student will get 8 or fewer answers correct?
8) Suppose that the probability of event A is 0.2 and the probability of event B is 0.4. Also, suppose that the two events are independent. Then P(A|B) is:
9) Which one of these variables is a continuous random variable?
10) Let A and B be events such that P (A) = 0.7 and P (B) = 0.9. Calculate the largest possible value of P (A ∪ B) − P (A ∩ B).
11) TATA Company stocks three brands: brand A; brand B and brand C. 40% are Brand A, 35% are brand B and 25% are brand C. The percentage of defective are 2% of brand A, 1% of brand B and 3% of brand C. If the company selects a product and finds it defective find the probability that it is a brand C product?
12) A Tyre Company stocks three brands of tyre: brand X; brand Y and brand Z. 40% are Brand X, 35% are brand Y and 25% are brand Z. The percentage of defective tyres are 2% of brand X, 1% of brand Y and 3% of brand Z. If a tyre is picked at random what is the probability that it is defective?
13) A randomly selected sample of 400 students at a university with 15-week semesters was asked whether or not they think the semester should be shortened to 14 weeks (with longer classes). Forty six percent (46%) of the 400 students surveyed answered "yes." Which one of the following statements about the number 46% is correct?
14) Which one of these variables is a binomial random variable?
15) Assuming that Birthdays are uniformly distributed through out the week, the probability that two strangers passing each other on the street were both born on Monday is


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