Chapter 11 Study Guide Essay

Words: 6454
Pages: 26

Introduction to Management Science, 10e (Taylor)
Chapter 11 Probability and Statistics

1) Deterministic techniques assume that no uncertainty exists in model parameters.
Answer: TRUE
Diff: 1 Page Ref: 489
Main Heading: Types of Probability
Key words: deterministic techniques

2) Probabilistic techniques assume that no uncertainty exists in model parameters.
Answer: FALSE
Diff: 1 Page Ref: 489
Main Heading: Types of Probability
Key words: probabilistic techniques

3) Objective probabilities that can be stated prior to the occurrence of an event are classical or a priori.
Answer: TRUE
Diff: 2 Page Ref: 489
Main Heading: Types of Probability
Key words: objective probabilities, classical probabilities

4)
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Answer: Subjective
Diff: 1 Page Ref: 490
Main Heading: Types of Probability
Key words: subjective probability

27) The events in an experiment are __________ if only one can occur at a time.
Answer: mutually exclusive
Diff: 1 Page Ref: 491
Main Heading: Fundamentals of Probability
Key words: mutually exclusive events

28) A __________ organizes numerical data to describe the events of an experiment.
Answer: frequency distribution
Diff: 1 Page Ref: 492
Main Heading: Fundamentals of Probability
Key words: frequency distribution

29) A __________ is the probability of occurrence of a single event.
Answer: marginal probability
Diff: 1 Page Ref: 492
Main Heading: Fundamentals of Probability
Key words: marginal probability

30) __________ can enable one to improve marginal probabilities of the occurrence of an event by gathering additional information.
Answer: Bayesian analysis
Diff: 2 Page Ref: 501
Main Heading: Fundamentals of Probability
Key words: Bayesian analysis

31) A succession of events that do not affect each other are __________.
Answer: independent
Diff: 2 Page Ref: 495
Main Heading: Statistical Independence and Dependence
Key words: independence

32) A __________ probability is the probability that an event will occur given that another event has already occurred.
Answer: conditional
Diff: 2 Page Ref: 495
Main Heading: Statistical