Question

Chapter 3
7. The income distribution is skewed to the right; therefore, the Median Income must be greater than the Mean Income.

8. The sample standard deviation formula does Not make it an unbiased estimator.

9. The mean is said to be less resistant to extreme values.

Chapter 5
10. The probability of an event is a value which must be greater than 0 and less than 1.

11. Two events are independent if the probability of one event is not influenced by whether or not the other event occurs.

12. Mutually exclusive events cannot be independent.

13. A subjective probability is a probability assessment that is based on relative frequency.

14. The probability of an event is the product of the probabilities of the sample space outcomes that correspond to the event.

15. If events A and B are independent, then P(A|B) is always equal to P(A) divided by P(B) .

16. Events that have no sample space outcomes in common and, therefore cannot occur simultaneously are referred to as mutually exclusive events.

Answer 1