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WorksheetsQuiz No.1_Stats and Prob_MT
Total questions: 10
Worksheet time: 10mins
In the context of probability distributions, what is another term often used for the Mean (μ)?
Median
Variance
Expected Value
Standard Deviation
Which symbol represents the Standard Deviation of a probability distribution?
μ
∑
σ
σ2
Calculate the Mean (μ) of this simple distribution: X={1,5} and P(X)={0.5,0.5}
0.5
2.5
3
6
If the Variance (σ2) of a distribution is 25, what is the Standard Deviation (σ)?
5
50
25
625
Imagine two Sari-Sari stores. Store A has a Standard Deviation of daily sales = 50. Store B has a Standard Deviation of $\sigma = 500. Which store has more unpredictable or risky sales?
Store A
Store B
Both are the same
Cannot be determined
Why is it impossible for the Variance to be a negative number (e.g., -5)?
Because the Mean is always positive
It is actually possible to have negative variance.
Because we square the devations (Χ − μ)2.
Because probabilities are always lesss than 1.
You are calculating the contribution to variance for a specific outcome. Given: X = 10, Mean μ = 6, and P(X) = 0.5. What is the value of (Χ−μ)2 ⋅ P(X) ?
8
2
4
16
If a Perya game has an Expected Value (Mean) of -5 pesos, what does this mean for the player?
The game is fair.
The player is guaranteed to win 5 pesos.
On average, the player loses 5 pesos per game in the long run.
The playe will lose exactly 5 pesos every single game.
Which of the following is the correct first step in calculating the Standard Deviation?
Take the square root of the random variable X.
Calculate the Mean (μ).
Subtract 1 from the total probability.
Square the probabilities
If the calculated probability P(X) for a value is 1.2, what can you conclude?
The variance will be very high.
This is a certain event.
The event is very likely to happen.
There is a mistake in the data or calculation.
