Preview

Chapter 9

Good Essays
Open Document
Open Document
30243 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Chapter 9
Exam 1. 1. All continuous random variables are normally distributed. False. 2. The actual weight of hamburger patties is an example of a continuous random variable. True 3. The college of business administration at acorn University offers a major in finance. Based on historical records, 30% of the college of business students major in Finance. A random sample of 20 students is selected. What is the probability that exactly 3 of the selected students are majoring in Finance? .0716 4. Assume that we have selected a random sample of 25 units from a normally distributed large population. If u = 15, and c2=4, what is the probability that we will obtain a sample mean of less than 14? .0062 5. The normal approximation of the binomial distribution is appropriate when. Np> 5 and n(1-p) >5 6. A newly married couple plans to have four children. Suppose that boys and girls are equal likely each time a child is born. What is the probability the couple will have no more than 2 boys? 62.5% 7. A random variable is said to be discrete if: Its outcome are countable 8. The mean life of pair of shoes is 40 months with a standard deviation of 8 months. If the life of the shoes is normally distributed, how many pairs of shoes out of one million will need replacement before 36 months? 308,500 9. If the sampled population has a mean of 48 and standard deviation 16, then the mean and the standard deviation for the sampling distribution x for n=16 48 and 4 10. The MPG (MILES PER GALLON) for a mid-size car is normally distributed with a mean of 32 and a standard deviation of .8. what is the probability that the MPG for a selected mid-size car would be less that 33.2? 93.32% 11. If the random variable X has a mean of u and a standard deviation g, then (X-u)/g) has a mean and standard deviation respectively. 0 and 1 12. For a binomial probability experiment, with n=150 and p=.2, it is appropriate to use the normal approximation to the binomial distribution. TRUE 13. A computer system uses 4

You May Also Find These Documents Helpful

  • Powerful Essays

    Chapter 10

    • 1332 Words
    • 6 Pages

    Chuck is currently in the 25 percent tax rate bracket. His marginal tax rate on increases in income up to $8,600 and deductions from income up to $40,500 is 25 percent.…

    • 1332 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    chapter 10

    • 4684 Words
    • 19 Pages

    The maker of Keebler Sandies cookies has added fudge drop Sandies to its cookie product line. Is this a new product?…

    • 4684 Words
    • 19 Pages
    Good Essays
  • Satisfactory Essays

    Chapter 9

    • 541 Words
    • 2 Pages

    Innovations such as defense wall and architecture is one of the Byzantine legacy. Their religions: Orthodox Christians and Roman Catholic were deprived during the Byzantine time, which continue to spread until the present day. The culture, they kept Greek’s literature from dying out and made copies of them. Since the city of Constantinople developed as one of the largest city in Europe, so therefore, some of the Byzantine’s legacies has contributed to the development of Europe.…

    • 541 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    Chapter 6

    • 1552 Words
    • 7 Pages

    The following annotated chapter outline will help you review the key points covered in this chapter.…

    • 1552 Words
    • 7 Pages
    Better Essays
  • Satisfactory Essays

    Chapter 19

    • 6942 Words
    • 24 Pages

    7) If you were to take a voyage across the Milky Way, what kind of material would you spend most of your time in?…

    • 6942 Words
    • 24 Pages
    Satisfactory Essays
  • Good Essays

    Chapter 8

    • 919 Words
    • 4 Pages

    a) The hours- worked field in a payroll transaction record contained the value 400 instead of 40. As a result, the employee received a paycheck for $6,257.24 instead of $654.32.…

    • 919 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Chapter 2

    • 402 Words
    • 2 Pages

    This is the Greek word for "city," used to designate the independent city-states of ancient Greece.…

    • 402 Words
    • 2 Pages
    Good Essays
  • Good Essays

    Chapter 8

    • 1089 Words
    • 5 Pages

    Market segmentation is to aggregate potential buyers into groups that have common needs and will respond similarly to a marketing action. Market segments are the relatively similar groups of potential buyers that result from the market segmentation process. The existence of different market segments has caused firms to use a marketing strategy of product differentiation. This strategy is related to using different marketing mix activities, such as product features and advertising, to help consumers perceive a product as being different and better than competing products. One of the marketing segments’ tools is a market-product grid, which is a framework to relate the market segments of potential buyers to products offered or potential marketing actions. A business goes to the trouble and expense of segmenting its markets when it expects that this will increase its sales, profit, and return on investment. When expenses are greater than the potentially increased sales from segmentation, a firm should not attempt to segment its market. Three specific segmentation strategies that illustrate this point are (1) one product and multiple market segments, (2) multiple products and multiple market segments, and (3) segments of one, or mass customization.…

    • 1089 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    Chapter 12

    • 373 Words
    • 2 Pages

    Leadership substitutes are variables such as individual, task, and organizational characteristics that tend to outweigh the leader's ability to affect subordinate satisfaction and performance.…

    • 373 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    chapter 9

    • 638 Words
    • 3 Pages

    The case study has given to us is regarding Quality Associates, Inc. It’s a consulting firm. Quality Associates, Inc. advises its clients about sampling and statistical procedures. In this particular case, Quality Associates, Inc. has provided samples to be analyzed, so it’s client can quickly learn whether the process is operating satisfactorily or corrective actions needs to be taken.…

    • 638 Words
    • 3 Pages
    Powerful Essays
  • Satisfactory Essays

    Chapter 9

    • 537 Words
    • 3 Pages

    * The introductory approach is the most common and the least powerful because it does little to capture the prospect’s attention and interest.…

    • 537 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    Chapter 8

    • 8341 Words
    • 34 Pages

    4. Be familiar with the history, current scope, and future prospects of the world's most important regional economic agreements.…

    • 8341 Words
    • 34 Pages
    Powerful Essays
  • Good Essays

    Chapter 6

    • 1799 Words
    • 8 Pages

    (L.O. 2) Compound interest is the process of computing interest on the principal plus any interest previously earned. Referring to the example in (3) above, if the loan was for two years with interest…

    • 1799 Words
    • 8 Pages
    Good Essays
  • Powerful Essays

    Chapter8

    • 5310 Words
    • 42 Pages

    Answer: Hedging transaction exposure by a forward contract is achieved by selling or buying foreign…

    • 5310 Words
    • 42 Pages
    Powerful Essays
  • Satisfactory Essays

    Chapter 2

    • 296 Words
    • 3 Pages

    A business needs to be managed and be organized for it to be able to compete in today’s market, our client is still manually managing and cataloging her business transactions and is likely falling short of the standards presented in today's modern trends.…

    • 296 Words
    • 3 Pages
    Satisfactory Essays