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Course: ORMS 3310, Fall 2008School: Texas A&M...
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3310 ORMS - Chapter 4 Practice Problems 1. Suppose that, from a population of 50 bank accounts, we want to take a random sample of 4 accounts in order to learn about the population. How many different random samples of 4 accounts are possible? ANSWER: 230,300 Fortune magazine publishes an annual issue of the Fortune 500 companies including what state the companies are headquartered in. The states and the number of...
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3310 ORMS - Chapter 4 Practice Problems 1. Suppose that, from a population of 50 bank accounts, we want to take a random sample of 4 accounts in order to learn about the population. How many different random samples of 4 accounts are possible? ANSWER: 230,300 Fortune magazine publishes an annual issue of the Fortune 500 companies including what state the companies are headquartered in. The states and the number of Fortune 500 companies headquartered in those states are listed in the table below. Not all 500 companies are listed below. State Number of Companies New York 56 California 53 Texas 43 Illinois 37 Ohio 28 Pennsylvania 28 Using only the data in the table above, find the probabilities of the following events? a.) What is the probability that a company is headquartered in New York? ANSWER: 22.86% b.) What is the probability that a company is headquartered in Texas? ANSWER: 17.55% c.) What is the probability that a company is headquartered in California or Ohio? ANSWER: 33.06% d.) What is the probability that a company is headquartered in Illinois and Pennsylvania? ANSWER: 0% 3. A university conducted a survey about what alumni think about the university. The only possible responses were no response, fell short of expectation, met expectations, or expectations. surpassed The results show that 4% of the respondents did not provide a response. 26% said that their experience fell short of expectations. And 65% said that their experience met expectations. a. If we chose an alumnus at random, what is the probability that the alumnus would say their experience surpassed expectations? ANSWER: 5% b. If we chose an alumnus at random, what is the probability that the alumnus would say their experience met or surpassed expectations? ANSWER: 70% A survey showed that 45.8 percent rented a car during the last 12 months for business reasons, 54% rented a car during the past 12 months for personal reasons, and 30% rented a car during the past 12 months for both business and personal reasons. a. What is the probab...
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Texas A&M University, Corpus Christi - ORMS - 3310
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