statistic
s
Name (Print):
Student ID No.:
Session Number: _______________________
The following question will appear on your final exam.
If you mark the box with either a or , your midterm score will not be used in grade calculation. If the box is left blank, midterm score will be counted.
EXAM Rules:
This is an open-book, open-notes exam.
Please leave your cell phone in your locker during the final exam on 10/10 (11am-3pm).
PART I. MULTIPLE CHOICES
1. Circle your answers on the exam.
2. Copy your answers to a SCANTRON sheet.
PART II. WORK PROBLEMS
1. Give neat, clean, and well organized answers.
2. Support your answers.
*This set of problems may take more than 4 hours to solve. The purpose is to provide you a set of problems for practice.
Part I: Multiple Choice (50 Questions)
Identify the letter of the choice that best completes the statement or answers the question.
1. A machine that produces a major part for an airplane engine is monitored closely. In the past, 15% of the parts produced would be defective. The manager wants to determine the proportion of parts currently produced that are defective. What is the minimum sample size he should take so that at 95% confidence the margin of error will not be more than 0.08?
a. 77
b. 102
c. 139
d. 185
2. A department store is considering a new credit policy to try to reduce the number of customers defaulting on payments. A suggestion is made to discontinue credit to any customer who has been late with his/her payment twice. Past records show that 3% of all customers default. Amongst the defaults 95% were late at least twice. Also, 10% of those who have not defaulted have been late twice. The department store is considering to adopt this policy if 50% or more of the people with 2 late payments default. Given a person with 2 late payments, how likely is that he/she will default.
a. 0.0285
b. 0.0970
c.
Name (Print):
Student ID No.:
Session Number: _______________________
The following question will appear on your final exam.
If you mark the box with either a or , your midterm score will not be used in grade calculation. If the box is left blank, midterm score will be counted.
EXAM Rules:
This is an open-book, open-notes exam.
Please leave your cell phone in your locker during the final exam on 10/10 (11am-3pm).
PART I. MULTIPLE CHOICES
1. Circle your answers on the exam.
2. Copy your answers to a SCANTRON sheet.
PART II. WORK PROBLEMS
1. Give neat, clean, and well organized answers.
2. Support your answers.
*This set of problems may take more than 4 hours to solve. The purpose is to provide you a set of problems for practice.
Part I: Multiple Choice (50 Questions)
Identify the letter of the choice that best completes the statement or answers the question.
1. A machine that produces a major part for an airplane engine is monitored closely. In the past, 15% of the parts produced would be defective. The manager wants to determine the proportion of parts currently produced that are defective. What is the minimum sample size he should take so that at 95% confidence the margin of error will not be more than 0.08?
a. 77
b. 102
c. 139
d. 185
2. A department store is considering a new credit policy to try to reduce the number of customers defaulting on payments. A suggestion is made to discontinue credit to any customer who has been late with his/her payment twice. Past records show that 3% of all customers default. Amongst the defaults 95% were late at least twice. Also, 10% of those who have not defaulted have been late twice. The department store is considering to adopt this policy if 50% or more of the people with 2 late payments default. Given a person with 2 late payments, how likely is that he/she will default.
a. 0.0285
b. 0.0970
c.