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Free CFA-Level-I Exam Braindumps (page: 236)

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What does the complement rule state?

  1. P(A) = 1 - P(not A)
  2. None of these answers
  3. P(A) = P(A) - P(B)
  4. P(A) = P(A) x P(B)
  5. P(A) = P(A) + P(B)

Answer(s): A

Explanation:

The sum of probability must equal 1. So P(A) + P(not A) = 1.



Two events, A and B, are mutually exclusive if:

  1. P(A and B) = P(A) + P(B)
  2. P(A and B) = 0
  3. P(A and B) = P(A) P(B)
  4. P(A and B) = 1

Answer(s): B

Explanation:

By definition, if A and B are mutually exclusive, they cannot occur simultaneously. Therefore, P(A and B) = 0 for mutually exclusive events A and B. Note that P(A and B) = P(A).P(B) if and only if A and B are independent.
Clearly, if A and B are mutually exclusive, they cannot be independent unless at least one of the two has a zero probability of occurring (i.e. is an impossible event). Finally, the only way "P(A and B) = P(A) + P(B)" will be true is if P(A) = P(B) = 0. To see this, recall that P(A or B) = P(A) + P(B) - P(A and B). The only way for "P(A and B) = P(A) + P(B)" to hold would be to have P(A or B) = 0. This is possible only when P(A) = P(B) = 0.



Affirmative action commitments by industrial organizations have led to an increase in the number of women in executive positions. Satellite Office Systems has vacancies for two executives, which it will fill from among four women and six men. What is the probability that two woman are selected?

  1. 3/5
  2. 8/15
  3. 3/4
  4. 2/15
  5. None of these answers

Answer(s): D

Explanation:

Probability of both positions being filled by women = 4/10*3/9 = 12/90.



Which one of the following is referred to as the population mean?

  1. Sample
  2. X-Bar
  3. The Greek letter "Mu"
  4. Statistic
  5. None of these answers

Answer(s): C

Explanation:

The normal symbol for the population mean is the Greek letter "Mu."






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