Probability for Business: Master the Basics with Interactive Quizzes

Question 1

A lottery has 6 balls numbered 1 to 6. Two balls are drawn at random without replacement. What is the probability that the first ball drawn is even and the second ball drawn is odd?

Accepted Answer

1/3

Answer

1/6

Answer

2/3

Answer

5/6

Question 2

A bag contains 10 marbles. There are 4 green marbles, 3 blue marbles, and 3 red marbles. You draw one marble at random. What is the probability that the marble is red?

Accepted Answer

3/10

Answer

1/5

Answer

1/4

Answer

1/2

Question 3

In a marketing campaign, a company sends out 6,000 emails and receives 300 responses. What is the probability that a randomly selected recipient did not respond?

Accepted Answer

0.95

Answer

0.05

Answer

0.25

Answer

0.5

Question 4

A survey finds that 35% of consumers prefer brand A and 65% prefer brand B. If a consumer is randomly selected, what is the probability that they prefer brand B?

Accepted Answer

0.65

Answer

0.35

Answer

1

Answer

0.2

Question 5

In a game of Monopoly, the probability of landing on a specific property is 1/12. If a player rolls the dice 12 times, what is the expected number of times they will land on that property?

Accepted Answer

1

Answer

0.83

Answer

12

Answer

24

Question 6

Two fair dice are rolled. What is the probability of obtaining a sum of 7?

Accepted Answer

1/12

Answer

1/36

Answer

1/6

Answer

1/4

Question 7

A firm has a 70% likelihood of making a profit in a specific quarter. Assuming the events are independent, what is the probability of making a profit in two consecutive quarters?

Accepted Answer

49%

Answer

14%

Answer

70%

Answer

98%

Question 8

Which event is independent of a coin flip's outcome?

Accepted Answer

Tomorrow's weather

Answer

The outcome of a second coin flip

Answer

The number of heads in 10 coin flips

Answer

The time needed to complete a task

Question 9

What is the probability of an event that will definitely not occur?

Accepted Answer

0

Answer

Cannot be determined

Answer

0.5

Answer

1

Question 10

Which of the following is NOT a fundamental rule of probability?

Accepted Answer

The probability of an event can be negative.

Answer

The probability of an event is between 0 and 1.

Answer

The sum of probabilities of all possible outcomes is 1.

Answer

An impossible event has a probability of 0.

Question 11

A bag contains 6 red balls and 4 blue balls. You draw a ball from the bag without looking. What is the probability of drawing a blue ball?

Accepted Answer

2/5

Answer

1/2

Answer

3/4

Answer

1/3

Question 12

Two fair dice are rolled. What is the probability of getting a sum of 8?

Accepted Answer

5/36

Answer

1/2

Answer

1/3

Answer

1/6

Question 13

A survey found that 60% of customers prefer brand X. What is the probability that a randomly selected customer does NOT prefer brand X?

Accepted Answer

0.4

Answer

0.5

Answer

0.6

Answer

0.7

Question 14

A company is launching a new product. It estimates that the probability of success is 0.65. What is the probability that the product will fail?

Accepted Answer

0.35

Answer

1

Answer

0.5

Answer

0.65

Question 15

A company is evaluating two investment options. Option A has a probability of success of 0.7 and a potential return of £120,000. Option B has a probability of success of 0.6 and a potential return of £150,000. Which option should the company choose to maximize the expected return?

Accepted Answer

Option B

Answer

More information is needed

Answer

Neither option

Answer

Option A

Question 16

A bag contains 5 red balls and 3 blue balls. If one ball is randomly selected from the bag, what is the probability that the ball will be blue?

Accepted Answer

3/8

Answer

1/4

Answer

5/8

Answer

1/5

Question 17

A survey reveals that 60% of consumers prefer Brand A over Brand B. If 1000 consumers are randomly selected, how many consumers would you expect to prefer Brand A?

Accepted Answer

600

Answer

400

Answer

800

Answer

1000

Question 18

An insurance company estimates that the probability of a car accident occurring in a given year is 0.05. If a driver has 5 cars insured with the company, what is the probability that none of the cars will be involved in an accident?

Accepted Answer

0.774

Answer

0.05

Answer

0.1

Answer

0.5

Question 19

A company is launching a new product. They estimate that there is a 60% chance the product will be successful. What is the probability that the product will *not* be successful?

Accepted Answer

40%

Answer

30%

Answer

60%

Answer

50%

Question 20

A bag contains 5 red marbles, 3 blue marbles, and 2 green marbles. What is the probability of selecting a blue marble at random?

Accepted Answer

3/10

Answer

1/2

Answer

1/5

Question 21

A company has two factories producing a specific component. Factory A produces 70% of the components, while Factory B produces the remaining 30%.  It is known that 2% of the components from Factory A are defective, and 5% from Factory B are defective.  What is the probability that a randomly selected component is defective?

Accepted Answer

0.031

Answer

0.07

Answer

0.05

Answer

0.02

Question 22

A market research survey shows that 70% of customers prefer brand A, 20% prefer brand B, and 10% prefer brand C.  What is the probability that a randomly selected customer prefers either brand A or brand B?

Accepted Answer

90%

Answer

50%

Answer

20%

Answer

70%

Question 23

A machine produces 1000 items per day.  The probability of a defective item is 0.01.  What is the expected number of defective items produced per day?

Accepted Answer

10

Answer

100

Answer

5

Answer

1

Question 24

A company is considering a new marketing campaign.  They estimate that there is a 70% chance the campaign will be successful, resulting in a £100,000 profit.  If the campaign is unsuccessful, they will lose £20,000. What is the expected profit from the campaign?

Accepted Answer

£66,000

Answer

£40,000

Answer

£80,000

Answer

£100,000

Question 25

A company is conducting a quality control inspection.  They randomly select 5 items from a batch of 100.  If there are 5 defective items in the batch, what is the probability that none of the 5 selected items are defective?

Accepted Answer

0.7738

Answer

0.95

Answer

0.2262

Answer

0.05