Hw3s10[1] - AEM 2100 Spring 2010 Name _ Section _ HOMEWORK...

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AEM 2100 Name _______________ Spring 2010 Section ______________ HOMEWORK #3 1.) The average 20 – 29 year old man is 69.9 inches tall, with a standard deviation of 3.0 inches, while the average 20 – 29 year old woman is 64.6 inches tall, with a standard deviation of 2.8 inches. Who is relatively taller, a 75-inch man or a 70-inch woman? 2.) When the Zagat Survey, a leading provider of leisure-based survey results, released its San Francisco Restaurants Survey, it marked the 25 th year that Zagat Survey reported on diners and the 19 th year that the company has covered San Francisco. The participants dined out an average of 3.2 times per week, with the average price per meal being $33.75. Suppose the standard deviation of the price of meals in San Francisco was $10 a.) What percentage of the prices of meals was between $13.75 and $53.75? b.) Determine the largest proportion of meal prices that could be larger than $50. c.) If the checks were paid in Chinese currency ($1 USD = 8.0916 Chinese Yuan), determine the mean and standard deviation of meal prices in San Francisco. How would this change of currency affect your answer to part a. 3.) The World Bank, through their Doing Business project ( www.doingbusiness.org ), ranks nearly 200 economies on the ease of doing business. One of their rankings measures the ease of starting a business and is made up (in part) of the following variables: number of required start-up procedures, average startup time (in days), and average start-up cost (in % of per capita income). The following table gives the mean and standard deviations of these variables for 95 economies. Procedures (#) Time (Days) Cost (%) Mean 7.9 27.9 14.2 Standard Deviation 2.9 19.6 12.9 Here are the data for three countries: Procedures Time Cost Spain 10 47 15.1 Guatemala 11 26 47.3 Fiji 8 46 25.3 a.) For each country , find the corresponding z score for each of the variables, and then add these values together to get a combined z-score. (Note: give each individual score, and the combined score for each of the 3 countries).
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b.) Which country has the best environment after combining the three measures? Be careful – a lower rank indicates a better environment for a start-up. 4.)
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This note was uploaded on 08/25/2010 for the course AEM 2100 taught by Professor Vanes,c. during the Spring '08 term at Cornell University (Engineering School).

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Hw3s10[1] - AEM 2100 Spring 2010 Name _ Section _ HOMEWORK...

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