Midterm1_sum07-posted-solution

Midterm1_sum07-posted-solution - BUAD310 Summer 2007 NAME:...

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BUAD310 Summer 2007 NAME: _________________ Solution ______________________ BUAD 310 USC ID: ______________________________________________ Summer 07 Dr. ARIF ANSARI June 4, 2007 MIDTERM # 1 This exam is closed book. 1 Sheets (2 pages) of formula and definitions is allowed. Write your answers on the exam sheets. If you need more space, continue your answer on the back of the page. Make sure you have all 7 pages (7 pages)! The exam is 75 minutes long. Total of 100 points. They are not equally weighted, nor are they of equal difficulty. The number of points each question is worth is printed with the question. Read the questions carefully. If you are unsure of the interpretation, come ask. Unless otherwise stated in a question, you must show your work to obtain full credit. If you can't complete a problem for any reason, explain what concepts are at issue, and how you would attack the problem. It is, in any case, a good idea to explain what your reasoning is in English. If I can't tell that you understood what you were doing, I can't give you credit, particularly if you get the wrong numerical answer. GOOD LUCK! Part I MULTIPLE CHOICE [ 5 points each – 30 points ] 1
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BUAD310 Summer 2007 1. What would a z-score of 1.2 indicate regarding Florida’s unemployment rate? a) Florida’s unemployment rate was 1.2 standard deviations above the mean for all states. Answer b) Florida’s unemployment rate was 1.2 standard deviations below the mean for all states. c) Florida’s unemployment rate was 1.2 %. d) Florida’s unemployment rate was 1.2 % higher than the mean unemployment rate. 2. A random sample of 30 CEO’s is drawn from a population of 500 Technology, Telecommunication and Internet Company CEO’s. They selected 10 CEO's from each of the following categories, Technology, Telecommunication and Internet companies. This sampling plan is called: a) Stratified Sampling Answer (selecting from each category) b) Simple Random Sampling c) Cluster Sampling d) Systematic Sampling e) None of the above 3. Determine whether each boldfaced number is a parameter or a statistic. Staff from a telemarketing company dials residential phone numbers in Los Angles at Random. Of the first 120 numbers dials 30% turned out to be unlisted, it is not surprising because 38% of all the Los Angeles residential numbers are unlisted. Another trial of 120 numbers resulted in 41% unlisted numbers. The three bold numbers in order are: a) Statistic, Parameter, Statistic Answer (the first one is calculated from sample, the next from population and the last one from sample). b)
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Midterm1_sum07-posted-solution - BUAD310 Summer 2007 NAME:...

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