Unit 4 - BUSINESS STATISTICS- BBA 2nd Sem
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1
Q1. What is the fundamental concept of probability?
Correct!
Wrong :(
Answer - A
Description: Probability is based on the occurrence of random events.
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Q2. Which of the following represents a sample space?
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Answer - A
Description: The sample space is the set of all possible outcomes of an experiment.
3
Q3. What does the Addition Law of Probability state?
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Answer - B
Description: The Addition Law states that the probability of A or B occurring is the sum of their individual probabilities.
4
Q4. If P(A) = 0.3 and P(B) = 0.5, what is P(A and B) if A and B are independent events?
Correct!
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Answer - B
Description: For independent events, the probability of both events occurring is the product of their individual probabilities.
5
Q5. What is conditional probability?
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Answer - B
Description: Conditional probability is the probability of an event A occurring given that another event B has occurred.
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Q6. Which formula represents the Multiplication Law of Probability for independent events A and B?
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Answer - A
Description: The Multiplication Law for independent events states that the probability of both events occurring is the product of their individual probabilities.
7
Q7. Bayes Theorem is used to calculate:
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Answer - D
Description: Bayes Theorem calculates the probability of an event based on prior knowledge of conditions that might be related to the event.
8
Q8. If P(A) = 0.4 and P(B | A) = 0.6, what is P(B and A)?
Correct!
Wrong :(
Answer - B
Description: P(B and A) can be found using the product of P(A) and P(B | A).
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Q9. What is the complement of an event A?
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Answer - A
Description: The complement of an event A is denoted by A and represents all outcomes not in A.
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Q10. If events A and B are mutually exclusive, what is P(A and B)?
Correct!
Wrong :(
Answer - A
Description: Mutually exclusive events cannot occur simultaneously, so their intersection (P(A and B)) is 0.
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Q11. If P(A) = 0.2 and P(A) = ?, what is the complement of event A?
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Wrong :(
Answer - C
Description: The complement of event A (A) is 1 - P(A).
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Q12. In a deck of cards, what is the probability of drawing a red card?
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Answer - C
Description: In a standard deck, there are two red suits (hearts and diamonds) out of the total of four suits.
13
Q13. If P(A ∩ B) = P(A) * P(B), events A and B are:
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Answer - A
Description: If the intersection probability equals the product of individual probabilities, the events are independent.
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Q14. The sum of probabilities of all possible outcomes in a sample space is always:
Correct!
Wrong :(
Answer - A
Description: The sum of probabilities in a sample space is always equal to 1.
15
Q15. What does the term odds refer to in probability?
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Answer - B
Description: Odds represent the ratio of the probability of an event to the probability of its complement.
16
Q16. If P(A) = 0.3 and P(B) = 0.4, what is P(A or B) for independent events A and B?
Correct!
Wrong :(
Answer - C
Description: For independent events, P(A or B) = P(A) + P(B) - P(A ∩ B). Since A and B are independent, P(A ∩ B) is 0.
17
Q17. What is the relationship between conditional probability and independence?
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Answer - D
Description: For independent events, the conditional probability is equal to their individual probabilities.
18
Q18. In Bayes Theorem, what does P(A) * P(B | A) represent?
Correct!
Wrong :(
Answer - A
Description: P(A) * P(B | A) represents the joint probability of events A and B.
19
Q19. What is the complement rule in probability?
Correct!
Wrong :(
Answer - A
Description: The complement rule states that P(A) = 1 - P(A), where A is the complement of event A.
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