BUSI 240: QUESTIONS AND ANSWERS; LATEST UPDATED VERSION,
ALREADY GRADED A+
Suncast Cable offers high definition (HD) cable TV, Internet and phone services to its customers. For
those service issues that can be resolved by calling its technical support center, Suncast's goal is to
have the problem solved within 30 minutes. In order to determine how well it is achieving this goal,
they monitored calls to its technical support center over the last three months. The data compiled is
shown in the table below. If Suncast wished to determine probabilities using these data, what type of
probability would it be calculating?
Problem Solved : HD cable TV / Internet / Phone
Yes : / 77
No : / 63
A : Empirical
The weather reporter predicts that there is a 20% chance of snow tomorrow for a certain region.
What is meant by this phrase?
E : In circumstance "like this", snow occurs 20% of the time
As an incentive to get new customers, the local branch of a bank launched "bouncing for bucks."
During this week long event, any customer opening a new checking account with the bank would have
the opportunity to throw a bouncy rubber ball into a large box divided into squares. Each square was
labeled with a dollar amount that would be deposited into his/her new checking account. The way the
box was labeled is shown below. What is the probability that a customer does not get $50?
10 10 10 10 10
20 20 30 30 50
B : 0.90
= = 0.10
= 1 - 0.10
= 0.90
It has been reported that men are more likely than women to participate in online auctions. In a
recent survey, 65% of respondents reported that they had participated in an online auction. In this
same survey, 45% of respondents were men and 38% were men who had participated in online
auctions. Which of the following is TRUE?
D : Gender and participation in online auctions are dependent
A survey of investors finds that 60% use a full service brokerage firm to invest in stocks, 30% trade
stocks online and 24% do both. The probability that an investor selected at random uses a full service
brokerage firm or trades stocks online is _______.
A : 66%
ALREADY GRADED A+
Suncast Cable offers high definition (HD) cable TV, Internet and phone services to its customers. For
those service issues that can be resolved by calling its technical support center, Suncast's goal is to
have the problem solved within 30 minutes. In order to determine how well it is achieving this goal,
they monitored calls to its technical support center over the last three months. The data compiled is
shown in the table below. If Suncast wished to determine probabilities using these data, what type of
probability would it be calculating?
Problem Solved : HD cable TV / Internet / Phone
Yes : / 77
No : / 63
A : Empirical
The weather reporter predicts that there is a 20% chance of snow tomorrow for a certain region.
What is meant by this phrase?
E : In circumstance "like this", snow occurs 20% of the time
As an incentive to get new customers, the local branch of a bank launched "bouncing for bucks."
During this week long event, any customer opening a new checking account with the bank would have
the opportunity to throw a bouncy rubber ball into a large box divided into squares. Each square was
labeled with a dollar amount that would be deposited into his/her new checking account. The way the
box was labeled is shown below. What is the probability that a customer does not get $50?
10 10 10 10 10
20 20 30 30 50
B : 0.90
= = 0.10
= 1 - 0.10
= 0.90
It has been reported that men are more likely than women to participate in online auctions. In a
recent survey, 65% of respondents reported that they had participated in an online auction. In this
same survey, 45% of respondents were men and 38% were men who had participated in online
auctions. Which of the following is TRUE?
D : Gender and participation in online auctions are dependent
A survey of investors finds that 60% use a full service brokerage firm to invest in stocks, 30% trade
stocks online and 24% do both. The probability that an investor selected at random uses a full service
brokerage firm or trades stocks online is _______.
A : 66%
