Scribd
Upload
202 views

Stat Test

A random sample of 6 adults was taken from a population where 40% favor wage and price controls. The probability none favor controls is (0.6)^0 = 0.4096. The probability at least 3 favor is 1 - P(X<=

Uploaded by

Anilkumarsanctum
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
202 views

Stat Test

A random sample of 6 adults was taken from a population where 40% favor wage and price controls. The probability none favor controls is (0.6)^0 = 0.4096. The probability at least 3 favor is 1 - P(X<=

Uploaded by

Anilkumarsanctum
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 5

MGT

5013 Quantitative --1:.'..0 .~ ~

Methods for Business Analysis 1994 Test1

N ame: SSN:

An assembler of electric fans uses motors from two sources. Company A supplies 75% of the motors and company B supplies the other 25% of the motors. Suppose it is known that 5% of the motors supplied by company A are defective, while 3% of the motors supplied by company B are defective. An assembled fan is found to have a defective motor.
a.

What is the probability that this motor was supplied by company A? (5) 1 (A) .::::..01-5 {(3) =-..zs r(.D/A) = 105
;?-S~,oS .?-5 * 10 5 + .Z S- :)A-.o 3

-.,. "'"'

()~ p{ Blo ) "2.. ~ ) .PC Dif1.) {-Pc ~) , ~o I (3)


... ...

.2'5

~.o3
-

"Z

41Cofo t

,-?5~.05+.Zs
2.

~ oJ

Some economists have proposed mandatory wage and price controls to combat inflation, but others claim such controls are ineffective because they deal with the effects, not the cau$es, of inflation. Suppose a recent national poll indicates that 40% of all American adults favor wage and price controls. A sample of n = 6 adults is selected at random. a. What is the probability p()(.=:o) b. -::::- (~) St~ that none of the We favor controls? ~ ~ (.4) ( I (p)O = (3) ~ (5)
'-

.' 04(0

What is the probability

that at least 3 favor wage and price controls?

5( -2r ~,'-. '.1 \.,'"' -~


*3 J JO

~C'1(:?.3)-=-}P(X=-0)-r(K=I)-p<i=2) -= ..tlS5"7.What is the expected value and variance of the number of adults who favor controls?

(2)

0--

'2..

"

3.

The number of people entering intensive care unit at a particular Poisson distribution with a mean >. = 5 people. a.

hospital on anyone day follows a

What is the probability that the number 'of people entering the intensive care unit on a particular day is equal to 2? (3) f('(.:::'Z-) =. -D~lf2.(~""" fo'~So~ +~b1-)

b.

~ "'26'

A "=-5

It- =-5

4.

The weekly total long distance telephone charges for a travel agency are a normal random variable X with JJ= $2,800 and 0- = $150. a. For a randomly selected week, what is the probability (2)
~ 0 ,So -z tf-l:.I:!! \ .J
I Z9J~

that the total charge will be less than $2,950?

==
b.

,5

+,

3~/3

,J!tfI3 t~t the total charge will be at leaSt

For a randomly selected. week, \vhat is the proba~ty

s -~..selected (2)

'/oJ-2week, what "\

"3~ ,~

,0?18

-L that ' the total , ~ ~ charge will L..

,,""-'

For a randomly an~ $3,040? r

is the probability

De between 1L..\O

$2,56~ -"l.~ )

,.5(:;)

d.

2-~~O "L~ -,~oY In one week, the manager claimed that the total charge is in one of the 25% highest charged weeks. What is the minimum charge of that week? (4) "

t = D .b "1-J

.0

,1,1>

'{

L~oo~

:::-l..,O\.

lA.-

5,

Scholastic aptitude scores of college-bound high school seniors have a mean of Jl = 475 and a standard deviation of 0- = 75.
a.

What are the mean and standard deviation of the sampling distribution size n = 225? (2)

of X for a random sample of

t."I.-- -::: '/.:!f-5


0-x -~ -

-~-

'1S ---

s
what is the probability that the sample mean will be between

2, 2- :sb. For a random sample of 225 seniors,

465 and 475? (3)

(J ( '"'\6~ ~

.;:. t.t":':lS)

:: ?\

r.-~ 1-~ / (f=i=ts

l-

x-f-A
o-/~ -o=;r=-L -

c. '--1111

c.

Assume that the aptitude scores of seniors are normally distributed. For a random sample of 4 seniors, what is the probability that the sample mean score will be over 525? (3) f1~ f>( ~ "I-S """2...:5)-=. (:) .) <::> -.L-( ~ cr-/~ "2.. .-e -z- ~~ 1- ., I rr-4 .0'1 \~
L' '11-5

~l"":2:. ""L~ ,~3.

~z.s that

d,

Also assume that the aptitude scores of seniors are normally distributed, an individual score will be over 525? (2)
'52'5 -~-L-\7"5

what is. the probability

2-

-::r5
.?.SlL-I ---

6.

A computer industry publication wished to estimate the mean percentage return on equity last year for all computer software firms. A random sample of 12 firms was drawn from the many firms in the software sector. The results were as follows:

8.37 -3.15

31.38 7.20

-6.52 15.45

24.87 0.35

-8.47 11.28

24.83 21.01

Consider the returns on equity are approximately a.

normally distribute,

Compute the sample mean and standard deviation of the percentage return. (5)

b.

Construct

a 90% confidence

interval

for the population

mean percentage

return

on equity.

(10)

"=X-*~

1'--\-k-=\1.)-5J-\0"':={qb 7' h

ELlL1~
":t.77 l~.1.-\)I\

.
:: ) .lob -'t. "

:;.

\().<;-s

-\: \.1

'1'-

\1,1 ---

rm

7.

In a random sample of n = 400 persons from the population of persons older than 40 years of age, 260 were found to use some hair conditioning product regularly. It is desired to estimate the population proportion p of persons older than 40 who use some hair conditioning product regularly.
a.

What is the sample proportion

p? What is the estimated standard deviation of jJ? (5)

"'-'<::()

().0'2.)~S-

b.

Obtain a 90% confidence interval for the population proportion ~~

p. (10)

().o

1. "'Jb)

= ~\o

l ()b

~~} n

D.bS

\-

8.

A sales analyst in a firm producing auto parts laboriously determined, from the study of all sales invoices for the previous fiscal year, that the mean profit contribution per invoice was $16.50. For the current fiscal year, the analyst selected a random sample of 225 sales invoices to test ~hether the mean profit contribution this year has changed from $16.50 or not. The sample of 225 invoices yielded the following results for the invoice profit contributions: X = $17.14, s = $18.80. Use a significance interval Q = 0.010.

a.

State the null and alternative tlc:>:fA-::: \(.,.5

hypotheses. (2)

b.

Set up the decision rule with either the action limits or the critical value. (4) t-<t -::: tb.O C = L.S=t5
+"-0

Compute the test statistic and state the conclusion. I- :: x -~


-= 5/~

(4)

\ T .ll-1

-\

<...JO ,
0.'5\06.

eOi\(,\VSiC>'\

'.

f\(.(e-rt

Ha
\1. 1i)

~ "-.:j"l1 x

d. '(Y-lliu8-

What is the P-value of this test? (5) -::.1.. ~'(?LKL\ 1. tL.I

\"b. ~/

,fi7..:s'

"r:::l~
0.10\

e.

Conduct the required test using the P-value.

(5)
l-t D

~f

'(> -\,\G-\.Ue\.la

D.u\

\~O

You might also like