Introduction To Probability(Business Statistics ) Questions and Answers

Question 1. If a person buys a lottery, the chance of winning a Toyota car is 60%, the chance of winning Hyundai car is 70% and the chance of winning both is 40% then chance of winning Toyota or Hyundai is
  1.    0.6
  2.    0.9
  3.    0.8
  4.    0.5
Explanation:-
Answer: Option B. -> 0.9
Answer: (b).0.9
Question 2. For a random experiment, all the possible outcomes are called
  1.    numerical space
  2.    event space
  3.    sample space
  4.    both b and c
Explanation:-
Answer: Option D. -> both b and c
Answer: (d).both b and c
Question 3. According to combination rule, if the total number of outcomes are 'r' and distinct outcome collection is 'n' then combinations are calculated as
  1.    n! ⁄ r!(n - r)!
  2.    n! ⁄ r!(n + r)!
  3.    r! ⁄ n!(n - r)!
  4.    r! ⁄ n!(n + r)!
Explanation:-
Answer: Option A. -> n! ⁄ r!(n - r)!
Answer: (a).n! ⁄ r!(n - r)!
Question 4. The outcomes of an experiment are classified as
  1.    logged events
  2.    exponential results
  3.    results
  4.    events
Explanation:-
Answer: Option D. -> events
Answer: (d).events
Question 5. The types of probabilities for independent events must includes
  1.    joint events
  2.    marginal events
  3.    conditional events
  4.    all of above
Explanation:-
Answer: Option D. -> all of above
Answer: (d).all of above
Question 6. The method of counting the outcomes in which the number of outcomes are determined while considering the ordering is classified as
  1.    intersection combinations
  2.    union combinations
  3.    listed combination
  4.    permutations
Explanation:-
Answer: Option D. -> permutations
Answer: (d).permutations
Question 7. The method of counting the outcomes in which the number of outcomes are determined without taking care of the arrangement order is classified as
  1.    listed combinations
  2.    union combinations
  3.    intersection combination
  4.    unlisted combinations
Explanation:-
Answer: Option C. -> intersection combination
Answer: (c).intersection combination
Question 8. The outcome of experiment which can be broken into more convenient list of outcomes is called
  1.    alpha event
  2.    gamma event
  3.    simple event
  4.    random event
Explanation:-
Answer: Option C. -> simple event
Answer: (c).simple event
Question 9. The important rules in computation of experimental outcomes includes
  1.    multiple experiments
  2.    permutations
  3.    combinations
  4.    all of above
Explanation:-
Answer: Option D. -> all of above
Answer: (d).all of above
Question 10. For two events, the probability of occurrence of both events at same time or occurrence in series is classified as
  1.    joint probability
  2.    dependent probability
  3.    series probability
  4.    conditional probability
Explanation:-
Answer: Option A. -> joint probability
Answer: (a).joint probability
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