FAU QBM 360 – QUIZ 1.

• Question 1

On a Minnesota December day, the probability of snow is 0.30. The probability of a cold day is 0.50. The probability of snow and cold weather is 0.15. Are snow and cold weather independent events?

• Question 2

As a company manager for the Quick Money Business there is a 0.40 probability that you will be promoted this year. There is a 0.72 probability that you will get a promotion or a raise. The probability of getting a promotion and a raise is 0.25. If you get a promotion, what is the probability that you will get a raise?

• Question 3

Alison has all her money invested in two mutual funds, A and B. She knows that there is a 40% chance that fund A will rise in price.

There is a 60% chance that fund B will rise in price given that fund A rises in price.

There is also a 30% chance that fund B will rise in price.

What is the probability that at least one of the funds will rise in price?

• Question 4

If P(A) = 0.40, P(B | A) = 0.35, P(A ∪ B) = 0.69, then P(B) =

• Question 5

A recent survey shows that the probability of a college student drinking alcohol is 0.6.

Further, given that the student is over 21 years old, the probability of drinking alcohol is 0.8.

It is also known that 30% of the college students are over 21 years old.

Of the students who are not over 21, what is the probability they drink alcohol?

• Question 6

Alison has all her money invested in two mutual funds, A and B. She knows that there is a 40% chance that fund A will rise in price.

There is a 60% chance that fund B will rise in price given that fund A rises in price.

What is the probability that both fund A and fund B will rise in price?

• Question 7

Three workers at a fast food restaurant pack the take-out chicken dinners. John packs 45% of the dinners, Mary packs 25% of the dinners and Sue packs the remaining dinners. Of the dinners John packs 4% do not include a salt packet. If Mary packs the dinner 2% of the time the salt is omitted. Lastly, 3% of the dinners do not include salt if Sue does the packing. What is the probability that you will have salt packed with your dinner?

• Question 8

Use the table below which contains data on 1200 students in a law class. If a student passed the course, what is the probability that their GPA was greater than 3.0?

GPA 0.0 – 2.0 GPA 2.01 – 3.0 GPA 3.01 – 4.0 Total

Pass 100 200 540 840

Fail 200 120 40 360

Total 300 320 580 1200

• Question 9

A six-sided die is tossed. You win $10 if the tossed die shows a 5 or an even number. What is the probability that you will win the game?

• Question 10

The final exam in QMB3600 is worth what percent of your total course grade?

On a Minnesota December day, the probability of snow is 0.30. The probability of a cold day is 0.50. The probability of snow and cold weather is 0.15. Are snow and cold weather independent events?

• Question 2

As a company manager for the Quick Money Business there is a 0.40 probability that you will be promoted this year. There is a 0.72 probability that you will get a promotion or a raise. The probability of getting a promotion and a raise is 0.25. If you get a promotion, what is the probability that you will get a raise?

• Question 3

Alison has all her money invested in two mutual funds, A and B. She knows that there is a 40% chance that fund A will rise in price.

There is a 60% chance that fund B will rise in price given that fund A rises in price.

There is also a 30% chance that fund B will rise in price.

What is the probability that at least one of the funds will rise in price?

• Question 4

If P(A) = 0.40, P(B | A) = 0.35, P(A ∪ B) = 0.69, then P(B) =

• Question 5

A recent survey shows that the probability of a college student drinking alcohol is 0.6.

Further, given that the student is over 21 years old, the probability of drinking alcohol is 0.8.

It is also known that 30% of the college students are over 21 years old.

Of the students who are not over 21, what is the probability they drink alcohol?

• Question 6

Alison has all her money invested in two mutual funds, A and B. She knows that there is a 40% chance that fund A will rise in price.

There is a 60% chance that fund B will rise in price given that fund A rises in price.

What is the probability that both fund A and fund B will rise in price?

• Question 7

Three workers at a fast food restaurant pack the take-out chicken dinners. John packs 45% of the dinners, Mary packs 25% of the dinners and Sue packs the remaining dinners. Of the dinners John packs 4% do not include a salt packet. If Mary packs the dinner 2% of the time the salt is omitted. Lastly, 3% of the dinners do not include salt if Sue does the packing. What is the probability that you will have salt packed with your dinner?

• Question 8

Use the table below which contains data on 1200 students in a law class. If a student passed the course, what is the probability that their GPA was greater than 3.0?

GPA 0.0 – 2.0 GPA 2.01 – 3.0 GPA 3.01 – 4.0 Total

Pass 100 200 540 840

Fail 200 120 40 360

Total 300 320 580 1200

• Question 9

A six-sided die is tossed. You win $10 if the tossed die shows a 5 or an even number. What is the probability that you will win the game?

• Question 10

The final exam in QMB3600 is worth what percent of your total course grade?