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Words 6457

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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) Objective probabilities that are stated after the outcomes of an event have been observed are relative frequencies.

Answer: TRUE

Diff: 2 Page Ref: 489

Main Heading: Types of Probability

Key words: relative frequencies

5) Relative frequency is the more widely used definition of objective probability.

Answer: TRUE

Diff: 1 Page Ref: 490

Main Heading: Types of Probability

Key words: relative frequencies

6) Subjective probability is an estimate based on personal belief, experience, or knowledge of a situation.

Answer: TRUE

Diff: 2 Page Ref: 490

Main Heading: Types of Probability

Key words: subjective probability

7) An experiment is an activity that results in one of several possible outcomes.

Answer: TRUE

Diff: 1 Page Ref: 491

Main Heading: Fundamentals of Probability

Key words: experiment

8) The events in an experiment are mutually exclusive if only one can occur at a time.

Answer: TRUE

Diff: 1 Page Ref: 491

Main Heading: Fundamentals of Probability

Key words: mutually exclusive events

9) In a given experiment, the probabilities of all mutually exclusive events sum to one.

Answer: TRUE

Diff: 1 Page Ref: 491

Main Heading: Fundamentals of Probability

Key…...

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