answer to optional problems module 1

answer to optional problems module 1 - Statistical Methods...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Statistical Methods in Business: Answer to Optional Problems – module 1 A1. The AMI Company has two assembly lines in its Kansas City plant. Line A produces an average of 325 units per day with a standard deviation equal to 10 units. Line B produces an average of 140 units per day with a standard deviation equal to 6 units. Based on this information, which line is relatively more consistent in production? CV (A) = 10/325*100 = 3.08% CV (B) = 6/140*100 = 4.29% Line A is more consistent (only slightly more) A2. Suppose annual salaries for sales associates from a particular store have a bell-shaped distribution with a mean of $32,500 and a standard deviation of $2,500. The z-score for a sales associate from this store who earns $37,500 is a. 37.5 b. 2 c. -2 d. 0.92 Z= (37,500-32,500)/(2500) = 2….answer is b A3. Outlier > mean + 3* (st. deviation) Outlier > 32,500 + 3*(2,500) > 40,000 Answer is c. A4. Fifty students are enrolled in an Economics class.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/27/2010 for the course FINANCE Ali taught by Professor Finance during the Spring '10 term at Abraham Baldwin Agricultural College.

Page1 / 2

answer to optional problems module 1 - Statistical Methods...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online