Chapter 5

Variables which take on values only at certain points over a given interval are called continuous random variables FALSE
A variable that can take on values at any point over a given interval is called a discrete random variable FALSE
The number of visitors to a website each day is an example of a discrete random variable TRUE
The amount of time a patient waits in a doctor’s office is an example of a continuous random variable TRUE
The mean or the expected value of a discrete distribution is the long-run average of the occurrences TRUE
To compute the variance of a discrete distribution, it is not necessary to know the mean of the distribution FALSE
In a binomial experiment any single trial contains only two possible outcomes and successive trials are independent TRUE
In a binomial distribution, p, the probability of getting a successful outcome on any single trial increases proportionately with every success FALSE
The Poisson distribution is a continuous distribution which is very useful in solving waiting time problems FALSE
The Poisson distribution is best suited to describe occurrences of rare events in a situation where each occurrence is independent of the other occurrences TRUE
A binomial distribution is better than a Poisson distribution to describe the occurrence of major oil spills in the Gulf of Mexico FALSE
For the Poisson distribution the mean and the variance are the same TRUE
A Poisson distribution is characterized by one parameter TRUE
The volume of liquid in an unopened 1-gallon can of paint is an example of ____ a continuous random variable
The number of finance majors within the School of Business is an example of ___- a discrete random variable
The speed at which a jet plane can fly is an example of ____ a continuous random variable
Random Variable a variable that contains the outcome of chance experiment
Discrete random variable The set of all possible values
Continuous random variable Variable might be generated includes time, height, volume

Leave a Reply

Your email address will not be published. Required fields are marked *