# Unit 4 - BUSINESS STATISTICS- BBA 2nd Sem

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1

Q1. What is the fundamental concept of probability?

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Wrong :(

Answer - A

Description: Probability is based on the occurrence of random events.

2

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?

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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.

6

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).

9

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.

10

Q10. If events A and B are mutually exclusive, what is P(A and B)?

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Wrong :(

Answer - A

Description: Mutually exclusive events cannot occur simultaneously, so their intersection (P(A and B)) is 0.

11

Q11. If P(A) = 0.2 and P(A) = ?, what is the complement of event A?

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Answer - C

Description: The complement of event A (A) is 1 - P(A).

12

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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Wrong :(

Answer - A

Description: If the intersection probability equals the product of individual probabilities, the events are independent.

14

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?

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Answer - A

Description: The complement rule states that P(A) = 1 - P(A), where A is the complement of event A.

Final Score:

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