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Test Bank for Statistics for Business and Economics 8th Edition

Test Bank for Statistics for Business and Economics 8th Edition

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8th Edition
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Test Bank for Statistics for Business and Economics 8th Edition

Chapter 5   Continuous Random Variables and Probability Distributions

1) The shape of the uniform probability distribution is:

A) negatively skewed.

B) positively skewed.

C) bell-shaped.

D) rectangular.

Answer:  D

Difficulty:  Easy

Topic:  Continuous Random Variables

AACSB:  Reflective Thinking Skills

Course LO:  Explain the characteristics and applications of continuous probability distributions

2) Sales, investment, consumption, costs, and revenues are economic and business measures which can be represented by:

A) discrete variable.

B) fixed variables.

C) continuous random variables.

D) coefficients.

Answer:  C

Difficulty:  Easy

Topic:  Continuous Random Variables

AACSB:  Reflective Thinking Skills

Course LO:  Explain the characteristics and applications of continuous probability distributions

3) Because measurements of random variables are rounded to some value, mathematical theory leads us to conclude that in reality, random variables for all applied problems are:

A) linear.

B) discrete.

C) coefficients.

D) medians.

Answer:  B

Difficulty:  Easy

Topic:  Continuous Random Variables

AACSB:  Reflective Thinking Skills

Course LO:  Explain the characteristics and applications of continuous probability distributions

4) When the distribution of a continuous random variable follows a uniform probability distribution and does not exceed a specific given value, its cumulative distribution function is graphed as a:

A) bell-shaped curve.

B) polygon.

C) rectangle.

D) straight line.

Answer:  D

Difficulty:  Moderate

Topic:  Continuous Random Variables

AACSB:  Reflective Thinking Skills

Course LO:  Explain the characteristics and applications of continuous probability distributions

5) To obtain the probability that a continuous random variable falls in a specified range, we find the difference between the cumulative probabilities at the lower and upper end of the:

A) range.

B) median.

C) mode.

D) mean.

Answer:  A

Difficulty:  Moderate

Topic:  Continuous Random Variables

AACSB:  Reflective Thinking Skills

Course LO:  Explain the characteristics and applications of continuous probability distributions

6) A function of continuous random variables which allows for graphical interpretations of their probability structure is called the:

A) cumulative distribution function.

B) probability density function.

C) uniform distribution.

D) expected value.

Answer:  B

Difficulty:  Moderate

Topic:  Continuous Random Variables

AACSB:  Reflective Thinking Skills

Course LO:  Explain the characteristics and applications of continuous probability distributions

7) The function that may be used to find the probability that the random variable falls within a specific range is called the:

A) expected value.

B) uniform distribution.

C) probability density function.

D) linear function.

Answer:  C

Difficulty:  Moderate

Topic:  Continuous Random Variables

AACSB:  Reflective Thinking Skills

Course LO:  Explain the characteristics and applications of continuous probability distributions

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