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Probability and Statistics for Business: Business Math Lesson Plans Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1.

Find the average of the following numbers.

8, 5, 10, 12, 20

Question 2 2. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. Calculate the median number of medals won during these Olympic Games.

Question 3 3.

Kyle works at a local music store. The store receives a shipment of new CDs in a box. In the shipment, there are 10 country CDs, 5 rock CDs, 12 hip hop CDs, and 3 jazz CDs.

What is the probability that the first CD that Kyle pulls from the box will NOT be hip hop?

Question 4 4.

Jonathan knows he scored in the 25th percentile on his psychology test. The professor gives the students the following list of grades (without names):

51, 37, 87, 95, 99, 78, 63, 96, 68, 84, 92

Assuming that there are 11 students in the class, what was Jonathan's test score?

Question 5 5. Which of these will become a weighted average?

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Question 6 6.

Kyle works at a local music store. The store receives a shipment of new CDs in a box. In the shipment, there are 10 country CDs, 5 rock CDs, 12 hip hop CDs, and 3 jazz CDs.

What is the probability that the first CD Kyle chooses from the box will be country?

Question 7 7. What percentage of the data is within two standard deviations to the left and right of the middle of a graph with a normal distribution?

Question 8 8. Which of the following p-values is NOT statistically significant?

Question 9 9.

Find the standard deviation for the following data set:

16, 20, 14, 24, 16, 19, 30, and 8

Question 10 10. In a certain game, you can win either $0, $50, or $100. The expected value of the game is -$20. If you play this game many times, how much money can you expect to make per game, on average?

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Question 11 11.

Find the range for one standard deviation in the following data set:

16, 20, 14, 24, 16, 19, 30, and 8

Question 12 12. All of the letters of MISSISSIPPI are put in a bag. What is the probability of selecting an M and then after not replacing the letter, selecting a P?

Question 13 13. All of the students in Jasmine's class have had their height measured. Jasmine is the 12th tallest person out of 560 students. What percentile is Jasmine's height in?

Question 14 14.

Find the range for one standard deviation in the following data set:

101, 106, 125, 142, 78, and 109

Question 15 15. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. If there is an outlier, identify it from the number of medals won during these Olympic Games.

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Question 16 16.

Kyle works at a local music store. The store receives a shipment of new CDs in a box. In the shipment, there are 10 country CDs, 5 rock CDs, 12 hip hop CDs, and 3 jazz CDs.

What is the probability that Kyle will select a jazz CD from the box, and then, without replacing the CD, select a country CD?

Question 17 17.

Find the variance for the following data set:

101, 106, 125, 142, 78, and 109

Question 18 18.

Select the word or phrase that best fills in the blank:

If the index is not a _____, round the number up, then count the values in the data set from least to greatest until you reach the index.

Question 19 19. Using a standard deck of 52 cards, what is the probability of selecting a 4 and then after not replacing the card, selecting another 4?

Question 20 20. What is a measure that indicates what percent of the given population scored at or below the measure?

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Question 21 21. A p-value of 0.04 means that the probability of the hypothesis or statistic being true is what?

Question 22 22. There are 30 students in Alice's math class. If the students' marks on the last test exhibit a normal distribution, and the average grade was 75%, then how many students scored within one standard deviation of 75%?

Question 23 23. Using a spinner with 12 equal sections numbered 1 through 12, what is the probability that Jim will spin a number less than 8?

Question 24 24. If you roll a die three times, what is the probability of rolling only even numbers?

Question 25 25. What is the expected value of this game?

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Question 26 26. How many green cars would you expect to see on any given day?

Question 27 27. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. Calculate the range number of medals won during these Olympic Games.

Question 28 28. During the first four Summer Olympic games attended by the United States, these medal counts were awarded. Calculate the mean number of medals won during these Olympic Games. (Round it to the nearest whole number.)

Question 29 29.

Find the variance for the following data set:

16, 20, 14, 24, 16, 19, 30, and 8

Question 30 30.

Which of the following expected values would a casino want for their games, if the expected value is being calculated in terms of the losses and gains of the player?

A) 10

B) -4

C) -2

D) 2

Probability and Statistics for Business: Business Math Lesson Plans Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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