Suggestions for Final Exam: 1 Define sample space, simple event, and compound event, sure and impossible

event with example? a) Suppose p(A)=0.7,P(B)=0.6, P(AB)=o.42, find P(A), p(AB),P(AuB), P(A/B) b) Are A and B independent? 2.a. Define classical probability, What are the important laws of probability? State them? b) A survey was conducted on 1300 business firms in a city.750 firms offer their employees health insurance, 640 offer dental insurance and 280 offer both the insurances. A firm is selected at random from this city, what is the probability that the selected firm offers their employees----1) health insurance, 2) only health insurance,3) only one insurance, 4) both the insurances, 5) at least one insurances? 3.a. Define random variable, What are the mathematical expectations and variance of a random variable? b) The number of tellers machine is busy at 11.am varies from day to day. X 1 2 3 4 5 P(X) .05 .15 K .25 .20 Find the mean number of teller busy with the customers, and also find the variance and standard deviation? 4. a. Define mutually exclusive events? Mutually exclusive events can never be independent explain? b) Two brands of refrigerator are available in the market. A survey was conducted on 100 people. The results were recorded as follows: 75 liked A, 60 liked B, 45 liked both. A person is selected at random. Find the probability that the selected person liked1) Only brand A, 2) Only one brand,3) At least one brand,4) It is known that the selected person liked brand A what is the probability he will liked B? C) P(A)= 3/5,P(B)=4/5, P(AB)=13/25,find only A, At least one, given that he liked A what is the probability he will liked brand A, Are A and B independent? 5.a. Define random variable? Define mean and variance of a random variable? Values Of 1 2 3 X P(X) .05 .10 K Compute---P(3<x) P(3>X) , P( 4<x<7) Compute mean variance and SD of X? 6. a. Define statistical hypothesis? 1st and 2nd kind of error? Size of a test and power of a test? 4 .30 5 .20 6 .15

b)The managing director claims that his factory produces 10% defective items.4 items are found to be defective from a sample of 50 items. Justify the claim at 5% level of significance? use Z=1.96

7.a) State the names of three important probability distributions? Write the properties of binomial and Poisson distributions? Give some practical examples of Poisson distributions? b) Write three properties of normal distributions? c) The managing director of a big firm claims that the proportion of products is defective produced by the company is 5%. 200 items are selected and 12 items found defective. Test at 5% level of significance? d) A sales clerk claims that 35% of the shoppers entering the store leave without buying. A random sample of 50 shoppers showed that 15 of them left without buying. Are these results consistent with 5% level of significance?

8.a. What is index number? What are the important weighted index numbers? Which one is the ideal index number? Why it is so called? What are the uses of index number? No. Of 2000 price 2009 price 2000 quantity commodities Rice 20 30 25 Wheat 15 20 15 Sugar 26 35 3 oil 45 55 3 Calculate all weighted index and prove fishers index is an ideal index? 2009 quantiy 30 18 2 3