Question

(1) Suppose a population numbers in the millions. If one takes a random sample from that population of an appropriate size to meet normality assumptions, the mean of the sample will be the same as the mean of the population.

Select one:

a. always true

b. always false

c. may be true, but unlikely

d. may be false, but unlikely

(2)

The mode of a probability distribution is the least likely outcome.

Select one:

a. TRUE

b. FALSE

(3)

“I think there is an 80% chance of me passing this exam” is an example of a

Select one:

a. joint probability.

b. normal probability.

c. conditional probability.

d. none of the above

(4)

A point of uncertainty is represented by a square.

Select one:

a. TRUE

b. FALSE

(5)

Branches are connected by squares only.

Select one:

a. TRUE

b. FALSE

(6)

A decision tree is a graphic representation of a problem.

Select one:

a. TRUE

b. FALSE

(7)

Mary has 2 parcels of oil producing property. If Mary can drill on only one property, her decision tree has how many branches?

Select one:

a. 1

b. 2

c. 3

d. 4

(8)

Branches may be connected by circles and squares.

Select one:

a. TRUE

b. FALSE

(9)

Once a decision has been made and there are no additional consequences nor more decisions to be made, this is indicated by

Select one:

a. a vertical line at the end of the branch

b. a horizontal line at the end of the branch

c. a circle at the end of the branch

d. none of the above

(10 )

The events in a decision tree from the eyes of the decision maker unfold from

Select one:

a. right to left

b. left to right

c. down to up

d. up to down

Answer 1

(1)Suppose a population numbers in the millions. If one takes a random sample from that population of an appropriate size to meet normality assumptions, the mean of the sample will be the same as the mean of the population.

(c) May be true but unlikely.

(2)The mode of a probability distribution is the least likely outcome.

(a) True

(3) “I think there is an 80% chance of me passing this exam” is an example of a

(b) the normal probability

(4) A point of uncertainty is represented by a square.

(b) False

(5) Branches are connected by squares only.

(b) False

(6) A decision tree is a graphic representation of a problem.

(a) True

(7) Mary has 2 parcels of oil producing property. If Mary can drill on only one property, her decision tree has how many branches?

(b) 2

(8) Branches may be connected by circles and squares.

(b) True

(9) Once a decision has been made and there are no additional consequences nor more decisions to be made, this is indicated by

(d) None of the above

(10) The events in a decision tree from the eyes of the decision maker unfold from

(b) left to right