QM 520 - Chapter 5: Discrete Distributions. Questions and Answers.

QM 520 - Chapter 5: Discrete Distributions. Questions and Answers. iscrete Distributions C 1. Variables which take on values only at certain points over a given interval are called _______. E A. point variables Term B. continuous random variables C. discrete random variables D. value variables B 2. A variable that can take on values at any point over a given interval is called _______. E A. a point variable Term B. a continuous random variable C. a discrete random variable D. a value variable 83 142 Test Bank A 3. The number of automobiles sold by a dealership in a day is an example of _______. E A. a discrete random variable Term B. a continuous random variable C. the binomial distribution D. the normal distribution D 4. The amount of time a patient waits in a doctor's office is an example of _________. E A. the normal distribution Term B. the binomial distribution C. a discrete random variable D. a continuous random variable B 5. The volume of liquid in an unopened 12-ounce bottle of beer is an example of _________. E A. a discrete random variable Term B. a continuous random variable C. the binomial distribution D. the normal distribution C 6. The volume of liquid in an unopened 1-gallon can of paint is an example of _________. E A. the binomial distribution Term B. the normal distribution C. a continuous random variable D. a discrete random variable A 7. The number of defective parts in a lot of 25 parts is an example of _______. E A. a discrete random variable Term B. a continuous random variable C. the Poisson distribution D. the normal distribution Chapter 5: Discrete Distributions 143 B 8. You are offered an investment opportunity. Its outcomes and probabilities are presented in the following table. X P(X) -$1,000 .40 $0 .20 +$1,000 .40 The mean of this distribution is _____________. E A. -$400 BCalc B. $0 C. $200 D. $400 D 9. You are offered an investment opportunity. Its outcomes and probabilities are presented in the following table. X P(X) -$1,000 .40 $0 .20 +$1,000 .40 The standard deviation of this distribution is _____________. M A. -$400 BCalc B. $663 C. $800,000 D. $894 C 10. You are offered an investment opportunity. Its outcomes and probabilities are presented in the following table. X P(X) -$1,000 .40 $0 .20 +$1,000 .40 Which of the following statements is true? E A. This distribution is skewed to the right. BApp B. This is a binomial distribution. C. This distribution is symmetric. D. This distribution is skewed to the left.