________ probability represents the likelihood of a single event occurring by itself.

________ probability represents the likelihood of a single event occurring by itself.

A) Classical
B) Simple
C) Empirical
D) Subjective

Q. 2

The mean of the binomial distribution represents the long-term average number of successes to expect based on the number of trials conducted.

Indicate whether the statement is true or false

Q. 3

A data set has 60 observations with a minimum value equal to 30 and a maximum value equal to 72. The number of classes using the rule is

A) 5.
B) 6.
C) 7.
D) 8.

Q. 4

A property of ________ data is that the differences between categories are not meaningful and, therefore, cannot be measured.

A) cross-sectional
B) ordinal
C) interval
D) ratio

Q. 5

In a binomial experiment, the number of successes can never exceed the number of trials.

Indicate whether the statement is true or false

Q. 6

________ probability is used when we know the number of possible outcomes of the event of interest and the total number of possible outcomes in the sample space.

A) Empirical
B) Simple
C) Subjective
D) Classical

Q. 7

The exponential probability distribution is a discrete distribution that is often used to describe time between customer arrivals.

Indicate whether the statement is true or false

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________ probability represents the likelihood of a single event occurring by itself.

Business Statistics

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