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Homework_1 - Mgmt 305 Homework 1 Due: January 26, 2011 1....

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Mgmt 305 Homework 1 Due: January 26, 2011 1. Public transportation and the automobile are two methods an employee can use to get to work each day. Samples of times recorded for each method are shown. Times are in minutes. Public Transportation:28 29 32 37 33 25 29 32 41 34 Automobile: 29 31 33 32 34 30 31 32 35 33 a. Compute the sample mean time to get to work for each method. b. Compute the sample standard deviation for each method. c. On the basis of your results from parts (a) and (B), which method of transportation should be preferred? Explain. 2. Nine percent of undergraduate students carry credit card balances greater than $7000 ( Reader’s Digest , July 2002). Suppose 10 undergraduate students are selected randomly to be interviewed about credit card usage. a. Is the selection of 10 students a binomial experiment? Explain. b. What is the probability that two of the students will have a credit card balance greater than $7000? c.
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Homework_1 - Mgmt 305 Homework 1 Due: January 26, 2011 1....

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