2024 – QUESTION 1 1 ch 2 4 The United Nations Development Programme website provides comparative data by country on key metrics
ECON 2013 Homework 2 – 2024
QUESTION 1
1. ch 2.4 The United Nations Development Programme website provides comparative data by country on key metrics, such metrics as life expectancy over time. The table below show data on life
expectancy over time in the United States
Which of the following statements are not true based on the scatterplot of U.S. Life Expectancy
over time?
The life expectancy in the U.S. is increasing over time
U.S. citizens lived fewer years in 2010 than they did in in 2008
The scatterplot shows an increasing trend in life expectancy in the U.S.
Based on the scatterplot, one can assume the life expectancy in 2014 will be higher
than 78 years
All of the above statements are true
6 points
QUESTION 2
1. An automobile dealer wishes to investigate the relation between the gender of the buyer and type of vehicle purchased. Based on the following joint probability table that was developed from the dealer’s records for the previous year, P (Male) = ________
Type of Buyer Gender
Vehicle Female Male Total
SUV
Not SUV .32 .48
Total .40 1.00
0.50
0.20
0.48
0.60
0.02
6 points
QUESTION 3
1. ch 1.2 Richard Cribb, Marketing Director of a regional restaurant chain, is directing a study to identify and assess the in-dining experience of the customers at one of the restaurants. He directs his staff to design a web-based market survey for distribution to all of the restaurant’s 1265 customers who enjoyed a meal during the past 6 months. For this study, the set of 1265 customers is __
a sample
the population
a statistic
a parameter
the frame
3 points
QUESTION 4
1. ch 1.4 A question in a survey of microcomputer users asked: “Which operating system do you use most often: a. Apple OS 7, b. MS DOS, c. MS Windows 95, d. UNIX.” The measurement level for this question is
nominal level
interval level
relative level
ordinal level
ratio level
4 points
QUESTION 5
1. ch 1.4 Thuy has been asked to rank five cars based upon their desirability. This level of measurement is
relative level
nominal level
ratio level
ordinal level
interval level
4 points
QUESTION 6
1. ch 1.4 A large manufacturing company in Indianapolis produces valves for the chemical industry. According to specifications, one particular valve is supposed to have a five-inch opening on the side. Quality control inspectors take random samples of these valves just after the hole is bored. They measure the size of the hole in an effort to determine if the machine is out of adjustment. The measurement of the diameter of the hole represents which level of data?
Ratio level
Ordinal level
Central level
Nominal level
Interval level
4 points
QUESTION 7
1. ch 2.1
An instructor made a frequency table of the scores his students got on a test
Score Frequency
30-under 40 1
40-under 50 4
50-under 60 5
60-under 70 10
70-under 80 20
80-under 90 10
90-under 100 5
Approximately what percent of students got more than 70?
36
10
20
50
64
5 points
QUESTION 8
1. ch 2.1
Consider the following frequency distribution:
Class Interval Frequency
10-under 20 15
20-under 30 25
30-under 40 10
What is the relative frequency of the first class?
0.30
0.10
0.40
0.20
0.15
5 points
QUESTION 9
1. ch 2.1
Consider the relative frequency distribution given below:
Class Interval Relative Frequency
20-under 40 0.2
40-under 60 0.3
60-under 80 0.4
80-under 100 0.1
There were 60 numbers in the data set. How many numbers were in the interval 20-under 40?
15
40
20
12
10
5 points
QUESTION 10
1. ch 2.1
The following class intervals for a frequency distribution were developed to provide information regarding the starting salaries for students graduating from a particular school:
Salary Number of Graduates
($1,000s)
28-under 31 –
31-under 35 –
34-under 37 –
39-under 340 –
Before data was collected, someone questioned the validity of this arrangement. Which of the following represents a problem with this set of intervals?
There are too many intervals
The second and the third interval overlap
The class widths are too large
There are too few intervals
The class widths are too small
6 points
QUESTION 11
1. ch 2.1
The number of phone calls arriving at a switchboard each hour has been recorded, and the following frequency distribution has been developed.
Class Interval Frequency
20-under 40 30
40-under 60 45
60-under 80 80
80-under 100 45
What is the cumulative frequency of the third class?
105
80
0.40
75
155
6 points
QUESTION 12
1. ch 2.1 An instructor made a frequency table of the scores his students got on a test
Score Frequency
30-under 40 1
40-under 50 4
50-under 60 5
60-under 70 10
70-under 80 20
80-under 90 10
90-under 100 5
The midpoint of the last class interval is _________.
100
50
90
95
5
6 points
QUESTION 13
1. ch 2.1 Mary has decided to construct a frequency distribution for a set of data containing 60 numbers. The lowest number is 23 and the highest number is 68. If 5 classes are used, the class width should be approximately
4
8
9
5
12
6 points
QUESTION 14
1. ch 2.1 The cumulative frequency for a class is 27. The cumulative frequency for the next (non-empty) class will be
next class frequency minus 27
27 minus the next class frequency
equal to 27
less than 27
27 plus the next class frequency
4 points
QUESTION 15
1. ch 2.2
Each day, the office staff at Oasis Quick Shop prepares a frequency distribution and an ogive of sales transactions by dollar value of the transactions. Saturday’s cumulative frequency ogive follows.
The percentage of sales transactions on Saturday that were under $100 each was
20
10
15
100
80
4 points
QUESTION 16
1. ch 2.2 Each day, the manager at Gyasi’s Auto Care prepares a frequency distribution and a histogram of sales transactions by dollar value of the transactions. Friday’s histogram follows.
On Friday, the approximate number of sales transactions between $150 and $175 was
300
200
400
75
500
4 points
QUESTION 17
1. ch 2.2 The following represent the ages of students in a class:
19, 23, 21, 19, 19, 20, 22, 31, 21, 20
If a stem and leaf plot were to be developed from this, how many stems would there be?
4
2
10
5
3
4 points
QUESTION 18
1. ch 2.3 The following graphic of PCB Failures is a _____________.
Cumulative Histogram Chart
Pareto Chart
Scatter Plot
Line diagram
Pie Chart
4 points
QUESTION 19
1. ch 3 Melissa made the following grades on 7 tests: 76, 82, 92, 95, 79, 86, and 92. What is the median grade?
86
76
82
95
94
6 points
QUESTION 20
1. ch 3 Anthony travels many miles to work each morning. He has timed this trip 5 times during the last month. The time (in minutes) required to make this trip was 38, 33, 36, 47, and 41. What is the standard deviation for this sample data? (Hint can use Excel function for this one, or calculate it on your own)
4.77
5.34
22.8
28.5
11
6 points
QUESTION 21
1. ch 3 Craig made the following grades on 7 tests: 76, 82, 92, 95, 79, 86, and 92. What is the mode?
76
86
79
82
92
6 points
QUESTION 22
1. ch 3 The empirical rule says that approximately what percentage of the values would be within 2 standard deviations of the mean in a bell shaped (normal curve) set of data?
100%
95%
97.7%
68%
50%
6 points
QUESTION 23
1.
ch 3 The number of standard deviations that a value (x) is above or below the mean is the
interquartile range
z score
correlation coefficient
absolute deviation
coefficient of variation
4 points
QUESTION 24
1.
ch 4 Priscilla manages a portfolio of 200 common stocks. Her staff classified the portfolio stocks by ‘industry sector’ and ‘investment objective.’
Investment Industry Sector
Objective Electronics Airlines Healthcare Total
Growth 100 10 40 150
Income 20 20 10 50
Total 120 30 50 200
2. If a stock is selected randomly from Priscilla’s portfolio, P (Growth) =
0.67
0.75
0.50
0.83
0.90
6 points
QUESTION 25
1. ch 4 Assigning probability 1/52 on drawing the ace of spade in a deck of cards is an example of assigning probabilities using the ________________ method
a posterior probability
relative frequency
a priori probability
subjective probability
classical probability
4 points
QUESTION 26
1. ch 4 Consider the following sample space, S, and several events defined on it. S = {Albert, Betty, Abel, Jack, Patty, Meagan}, and the events are: F = {Betty, Patty, Meagan}, H = {Abel, Meagan}, and P = {Betty, Abel}. F ∩ H is ______
{Meagan}
empty, since F and H are complements
empty, since F and H are mutually exclusive
{Betty, Patty, Abel, Meagan}
empty, since F and H are independent
4 points
QUESTION 27
1. ch 4 Consider the following sample space, S, and several events defined on it. S = {Albert, Betty, Abel, Jack, Patty, Meagan}, and the events are: F = {Betty, Patty, Meagan}, H = {Abel, Meagan}, and P = {Betty, Abel}. F ∪ H is
{Meagan}
empty, since F and H are complements
{Betty, Abel, Patty, Meagan}
empty, since F and H are independent
empty, since F and H are mutually exclusive
4 points
QUESTION 28
1. ch 4 If X and Y are mutually exclusive events, then if X occurs
X and Y are independent
A and Y are collectively exhaustive
X and Y are complements
Y must also occur
Y cannot occur
4 points
QUESTION 29
1. ch 4 Let F be the event that a student is enrolled in a finance course, and let S be the event that a student is enrolled in a statistics course. It is known that 40% of all students are enrolled in a finance course and 35% of all students are enrolled in statistics. Included in these numbers are 15% who are enrolled in both statistics and finance. A student is randomly selected, what is the probability that the student is enrolled in either finance or statistics or both?
0.15
0.90
0.55
0.75
0.60
4 points
QUESTION 30
1.
ch 5 (Hint: can use Excel or table on page 792) Thuy counts the number of cars arriving at a toll booth in five-minute intervals, which is Poisson distributed with a mean of 3 cars arriving in five-minute time intervals. The probability of 3 cars arriving over a five-minute interval is _______. Hint: the mean is lambda
0.0498
0.2700
0.0001
0.2240
0.0020
4 points
QUESTION 31
1. ch 5 (Hint: you can use table on p 786 or Excel) Dennis Metz, Chief Financial Officer of Harrison Haulers, Inc., suspects irregularities in the payroll system, and orders an inspection of a random sample of vouchers issued since January 1, 2006. A sample of ten vouchers is randomly selected, without replacement, from the population of 2,000 vouchers. Each voucher in the sample is examined for errors and the number of vouchers in the sample with errors is denoted by x. If 20% of the population of vouchers contain errors, P(x>0) is
0.3020
0.1074
1.0000
0.8926
0.8171
4 points
QUESTION 32
1. ch 5 (hint you can use table on p 785 or Excel) Thuy randomly guesses the answers to a five question true/false test. If there is a 50% chance of guessing correctly on each question, what is the probability that she misses no questions?
0.000
0.200
0.031
0.500
1.000
4 points
QUESTION 33
1. ch 5 (hint: you can use table on p 785 or Excel). Mary randomly guesses the answers to a five question true/false test. If there is a 50% chance of guessing correctly on each question, what is the probability that she misses exactly 1 question?
0.031
0.001
0.200
0.156
0.073
4 points
QUESTION 34
1. ch 5 (hint: you can use table on p 785 or Excel) Mary purchased a mailing list of 2,000 names and addresses for her mail order business, but after scanning the list she doubts the authenticity of the list. She randomly selects five names from the list for validation. If 40% of the names on the list are non-authentic, and x is the number of non-authentic names in her sample, P(x=0) is
0.5000
0.0467
0.0778
0.4000
0.8154
4 points
QUESTION 35
1.
ch 5 The number of finance majors within the School of Business is an example of
the normal distribution
the Poisson distribution
a constant
a discrete random variable
a continuous random variable
4 points
QUESTION 36
1.
ch 5
A recent analysis of the number of rainy days per month found the following outcomes and probabilities.
Number of Raining Days (x) P(x)
3 .40
4 .20
5 .40
The mean of this distribution is
<1
2
3
5
4
4 points
QUESTION 37
1. ch 6 Mary and Thuy opened a small dress store in a mall. During the first few weeks, business was slow, with the store averaging only 3 customers per hour in the morning (lambda). Assume that the random arrival of customers is Poisson distributed. What is the probability that at least one hour would elapse between customers? Hint: this is similar to p213 problem 6.29
.0634
.0498
.0512
.0399
8 points
QUESTION 38
1. ch 6 find the probability for the following expoential distribution: P(x > 3½ λ = 1.3):
Hint: this is similar to problem 6.29 on page 213
.0211
.0324
.0202
.0390
4 points
QUESTION 39
1. ch 6.1 If the number of parking spots at grocery stores is uniformly (hint) distributed over the interval 90 to 140, inclusively (90 ≤ x ≤ 140), inclusively (90 ≤ x ≤ 140), then the mean of this distribution is _
45
230
115
unknown
70
4 points
QUESTION 40
1. ch 6.1 If the number of parking spots at urban grocery stores is uniformly (hint) distributed over the interval 90 to 140, inclusively (90 ≤ x ≤ 140), then the standard deviation of this distribution is
4.16
7.07
50
28.2
14.4
4 points
QUESTION 41
1. ch 6.2 (hint: you can use the front cover table) Let z be a normal random variable with mean 0 and standard deviation 1. What is P(z > 2.4)?
0.0820
0.4793
0.9918
0.4918
0.0082
4 points
QUESTION 42
1. ch 6.4 During the summer at a small private airport, the unscheduled arrival of airplanes is Poisson distributed with an average arrival rate of 1.12 plane per hour. What is the average interarrival time between planes? (Hint: lambda is the average arrival rate)
.89 hr, or 53.4 minutes
.56 hr, or 32 minutes
.25 hr or 15 minutes
.83 hr, or 50 minutes
4 points
QUESTION 43
1.
ch 6.4 The exponential distribution is an example of
a symmetrical distribution
a bimodal distribution
a discrete distribution
a normal distribution
a continuous distribution
Need assignment writing services that are 100% risk-free. Our writers are capable of providing the best assignment help to students in globally at best rates.
Assignment online is a team of top-class experts whose only goal is to give you the best assignment help service. Follow the link below to order now...
#write essay #research paper
