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INSTITUTE OF ACCOUNTS, BUSINESS, AND
FINANCE
01
QUIZ
BUS STAT
Score:
BUSINESS STATISTICS
A survey carried out for a supermarket classified customers according to whether their
visits to the store are frequent or infrequent and to whether they often, sometimes, or
never purchase generic products. The accompanying table gives the proportions of people
surveyed in each of the six joint classifications.
a. What is the probability that a customer is both a frequent shopper and often purchases
generic products?
b. What is the probability that a customer who never buys generic products visits the
store frequently?
c. Are the events Never buys generic products and Visits the store frequently
independent?
d. What is the probability that a customer who infrequently visits the store often buys
generic products?
e. Are the events Often buys generic products and Visits the store infrequently
independent?
BUSINESS STATISTICS
h. What is the probability that a customer either frequently visits the store or never buys
generic products, or both?
1. Approximately 84% of persons age 70 to 84 live in their own household and are income-
qualified for home purchases. If four persons are randomly selected from this population,
the probability that exactly two of the four live in their own household and are income-
qualified is?
a. What is the probability that a randomly selected Egyptian household will have more
than 2 children?
b. What is the probability that a randomly selected Egyptian household will have
between 2 and 4 children?
c. What is the probability that a randomly selected Egyptian household will have fewer
than 4 children?
e. Find the standard deviation of the number of children in an Egyptian household. ANS:
BUSINESS STATISTICS
3. Let x be a Poisson random variable with = 6. Use the table of Poisson probabilities to
find: ANS (0.8472; 0.1033; 0.7149; 0.5117)
a. P(x 8)
b. P(x = 8)
c. P(x 5)
d. P(6 x 10)