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[answered] Bus Adm 210: Extra Credit Assignment Directions: before or


There are 18 questions here please answer them ASAP

I need 2-7 and 18 The rest is just to make sure I did them right

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Bus Adm 210: Extra Credit Assignment

 

Directions: please print out this assignment, complete all questions, and submit a hard-copy to your T.A. before or

 

during discussion on December 2nd, 2016. Only hard-copies will be accepted, and no late submissions are allowed.

 

Show all your work for each question. Credit will not be given to answers that have no work shown.

 

In total, this packet is worth 15 points. The points you earn will be added to your total Midterm exam points, which

 

can exceed 100% ! 1. A customer surveyed the prices for a certain item in five different stores and reported an average of $27. He

 

found four of the prices to be $23, $27, $32, and $25. What is the price of the item at the fifth store? For problems 2-4 use the following information. At UWM, 30% of students like Pepsi. 40% of the students like Coke, and

 

10% of students like both. 2. Draw a Venn Diagram that illustrates this situation. 3. What proportion of students like Coke only?

 

a. 10%.

 

b. 20%.

 

c. 30%.

 

d. 40%. 4. What proportion of students doesn?t like Coke or Pepsi?

 

a. 10%.

 

b. 20%.

 

c. 30%.

 

d. 40%. For problems 5 and 6 use the following information. Choose a household from Wisconsin, and let discrete random

 

variable X be the number of cars each household owns, with the following distribution:

 

x P(x)

 

0 .1

 

1 .4

 

2 .2

 

3 .1

 

4 .2 5. Is this a legitimate probability model? Why? 6. What is the Variance of X? You observe the gender of the next 5 children born at a local hospital. Let X denote the number of girls among them.

 

Using the distribution of X as shown in the chart below: P(X) 7. What is the approximate probability that there will be 3 or more girls among the 5 births?

 

0.35

 

0.30

 

0.25

 

0.20

 

0.15

 

0.10

 

0.05

 

0.00

 

0 1 2 3

 

X 4 5 Use the following information for questions 8 and 9. Suppose that according to available data, 40% of graduate students

 

are concerned about student loans. We select 10 students at random (i.e. independently) and record how many of

 

them are concerned about student loans.

 

8. What is the probability that at least one person out of the 10 graduate students is concerned about student

 

loans? 9. What is the probability that exactly one person out of the 10 graduate students is concerned about student

 

loans? Use the following information for questions 10-12. Let the random variable X be a random number with a uniform

 

density curve where X falls between 0 ? ? 3

 

10. Draw the density curve, including the height of the curve 11. What is the P(X < 1)? 12. What is Standard Deviation of X? Use the following information to answer questions 13 and 14. The distribution of heights of young men is approximately

 

Normal with mean (?) 69 inches and standard deviation (?) 2.5 inches. Use the 68-95-99.7 rule to answer the following

 

questions.

 

13. Between what heights do the middle 95% of young men fall? 14. What percent of young men are taller than 74 inches? Use the following information to answer questions 15-17. The weights of randomly selected smartphones coming off an

 

assembly line have mean (?) = 5 oz. and standard deviation (?) = 0.2 oz, following a Normal distribution.

 

15. What is the probability that the weight of a selected phone is more than 5.2? 16. What is the probability that the weight of a selected phone is equal to 5.2? 17. Find the 70th Percentile value, and explain what it means in terms of the weight of smartphones? 18. From a sample of 1601 students, it is found that the average amount paid for college is $20,902. If the

 

population standard deviation is $7,500, give the 95% confidence interval for the mean.

 


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