Q1. If two events (A and B) are equally likely to occur, and they are mutually exclusive and collectively exhaustive, what is the probability that event A occurs? a. 0. b. 0.50. c. 1.00. d. Cannot be determined from the information given.Q2. The employees of a company were surveyed on questions regarding their educational background and marital status. Of the 600 employees, 400 had college degrees, 100 were single, and 60 were single college graduates. The probability that an employee of the company has a college degree is: a. 0.10 b. 0.25 c. 0.67 d. 0.73Q3. A business venture can result in the following outcomes (with their probabilities in parentheses): Highly Successful (10%), Successful (25%), Break Even (25%), Disappointing (20%), and Highly Disappointing (unknown). If these are the only outcomes possible for the business venture, what is the chance that the business venture will be considered Highly Disappointing? a. 10% b. 15% c. 20% d. 25%Q4. If two events are independent (for example, being struck by lightening and being sued for tax evasion), what is the probability that they both occur at the same time? a. 0. b. 0.50. c. 1.00. d. Cannot be determined from the information given.Q5. A study was recently done that emphasized the problem we all face with drinking and driving. Four hundred accidents that occurred on a Saturday night were analyzed. Two items noted were the number of vehicles involved and whether alcohol played a role in the accident.Did alcohol play a role1 Vehicle Involved2 Vehicles Involved3 Vehicles InvolvedTotalsYes5010020170No2517530230Totals7527550400Referring to the TABLE, given that alcohol was not involved, what proportion of the accidents were single vehicle? a. 50/75 or 66.67% b. 25/230 or 10.87% c. 50/170 or 29.41% d. 25/75 or 33.33%Q6. The probability that a new advertising campaign will increase sales is assessed as being 0.80. The probability that the cost of developing the new ad campaign can be kept within the original budget allocation is 0.40. Assuming that the two events are independent, the probability that the cost is kept within budget and the campaign will increase sales is: a. 0.20 b. 0.32 c. 0.40 d. 0.88Q7. If two events are mutually exclusive and collectively exhaustive, what is the probability that both occur at the same time? a. 0. b. 0.50. c. 1.00. d. Cannot be determined from the information given.Q8. If two events are collectively exhaustive, what is the probability that one or the other occurs? a. 0. b. 0.50. c. 1.00. d. Cannot be determined from the information given.Q9. If n = 10 and p = 0.70, then the standard deviation of the binomial distribution is a. 0.07 b. 1.45 c. 7.00 d. 14.29Q10. Thirty-six (36) of the 81 teachers at a local school are certified in Cardio-Pulmonary Resuscitation (CPR). Given there are 180 days of school and that the teachers take turns on bus duty, about how many days can we expect that the teacher on bus duty will be certified in CPR? a. 36 days b. 45 days c. 72 days d. 80 daysQ11. The diameters of 10 randomly selected bolts have a binomial distribution. a. true b. falseQ12. If n = 10 and p = 0.70, then the mean of the binomial distribution is a. 0.07 b. 1.45. c. 7.00 d. 14.29Q13. Whenever p = 0.5, the binomial distribution will a. always be symmetric. b. be symmetric only if n is large. c. be right-skewed. d. be left-skewed.Q14. The local police department must write an average of 5 traffic tickets each day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with a mean of 6.5 tickets per day. Interpret the value of the mean. a. The number of tickets written is 6.5 each day. b. Half of the days have less than 6.5 tickets written and half of the days have more than 6.5 tickets written. c. If we sampled all days, the expected number of tickets written would be 6.5 tickets per day. d. The mean cannot be interpreted since you can write 0.5 tickets.Q15. Another name for the mean of a probability distribution is its expected value. a. true b. falseQ16. Suppose that a judge’s decisions follow a binomial distribution and that his verdict is correct 90% of the time. In his next 10 decisions, the probability that he makes fewer than 2 incorrect verdicts is 0.736. a. true b. falseQ17. In its standardized form, the normal distribution has: a. a mean of 0 and a standard deviation of 1. b. a mean of 1 and a variance of 0. c. an area equal to 0.5. d. None of the above are correct.Q18. A food processor packages orange juice in small jars. The weights of the filled jars are approximately normally distributed with a mean of 10.5 ounces and a standard deviation of 0.3 ounce. Find the proportion of all jars packaged by this process that have weights that fall below 10.875 ounces. a. 0.8944 b. 0.9845 c. 0.8456 d. 0.2346Q19. Any set of normally distributed data can be transformed to its standardized form. a. true b. falseQ20. A worker earns $15 per hour at a plant and is told that only 2.5% of all workers make a higher wage. If the wage is assumed to be normally distributed and the standard deviation of wage rates is $5 per hour, the average wage for the plant is $7.50 per hour. a. true b. falseQ21. For some positive value of X, the probability that a standard normal variable Z is between 0 and 2X is 0.1255. The value of X is a. 0.99 b. 0.40 c. 0.32 d. 0.16Q22. A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan. Suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. What proportion of the plan recipients would receive payments beyond age 75? a. .0034 b. 0.2134 c. 1.2543 d. 0.0228Q23. The owner of a fish market determined that the average weight for a catfish is 3.2 pounds with a standard deviation of 0.8 pound. Assuming the weights of catfish are normally distributed, the probability that a randomly selected catfish will weigh between 3 and 5 pounds is _______? a. 0.1246 b. 0.5546 c. 0.5865 d. 0.6548Q24. The owner of a fish market determined that the average weight for a catfish is 3.2 pounds with a standard deviation of 0.8 pound. Assuming the weights of catfish are normally distributed, the probability that a randomly selected catfish will weigh more than 4.4 pounds is _______? a. 0.0668 b. 0.0245 c. 0.1280 d. 1.2045Q25. The “middle spread,” that is the middle 50% of the normal distribution, is equal to one standard deviation. a. true b. false