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Unformatted text preview: KING FAHD UNIVERSITY OF PETROLEUM & MINERALS DEPARTMENT OF MATHEMATICS AND STATISTICS DHAHRAN, SAUDI ARABIA STAT 211: BUSINESS STATISTICS I Final Exam, Semester-072 (2008) Time: 7:00 pm to 9:30 pm. Wednesday, June 11, 2008. Tick ( ) the box below corresponding to your Class Section, Time, and Instructor : Section Time Instructor 1 9.00-9.50am Dr. Mohammad H. Omar 2 10.00-10.50amDr. Mohammad H. Omar 4 1:10-2.00pm Dr. Mohammad H. Omar Student Name: ID# Serial # ______________________________________________________________________ 1) You are allowed to use any scientific/electronic calculator. 2) Mobiles are NOT allowed. And maybe considered grounds for cheating. Turn mobiles off and put under your seats. 3) Answer all questions. 4) On problem solving questions, set-up the problem and show key important steps to maximize your scores. For example, For the following data, compute the mean . 12 14 6 8 10 The following answer gives the necessary and sufficient steps to the solution. ANSWER: Mean = Total/size = (12++10)/5 = 50/5 = 10 . Notice that you can abbreviate (shorten) the steps to save time. Question No Marks Marks Obtained Comment 1-6 6 7-15 (2 points each) 18 16 5 17 7 18 3 19 13 20 8 21 13 Total 73 1 Part I. For the following questions, state either True or False. (1point each =6 points total). 1. A study of 4000 Dell PC customers listed among other variables, the age of the customer. The youngest customer was 14 years old and the oldest customer was 84 years old. If you wish to develop a frequency distribution with 7 classes, the class width should be 10 years. Answer: True 2. When cluster random sampling is employed, the population must first be divided into homogeneous subgroups. Then either a systematic or a simple random sampling is done in each group to obtain the cluster sample. Answer: True 3. The Al-Zamil Construction Company has the opportunity to enter into a contract to build a stretch of highway. The following table shows the probability distribution for the profit that could occur if they take the contract: Profit (in thousands SAR) Probability 30 0.15 50 0.20 70 0.30 100 0.35 Based on this information, the expected profit for the company if they take the contract is 70.5 thousand riyals. Answer: True 4. Hypothesis testing and estimation are two statistical tools that are used to draw inferences about a large total data set based on a subset of the data. Answer: Tru e 5. A warehouse contains five parts made by Al-Salim Company and eight parts made by the Al-Ataa Company. If an employee selects three of the parts from the warehouse at random, the probability that none of the three parts is from Al-Salem Company is best approximated by the hypergeometric distribution....
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