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W07_2303_Exam - Qu#1 A telecommunications equipment vendor...

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Qu. #1 . A telecommunications equipment vendor produces two lines of products (i) private network equipment and (ii) public network equipment. It estimates the market size for these two product lines in one year’s time as shown in the table: Estimated Market Size: $bn Mean Standard Deviation Private Network Equipment 7.6 1.2 Public network Equipment 4.3 0.5 (3) (a) Assuming that the markets for the two lines of products are independent of each other, calculate the mean and standard deviation of the estimated total market size in one year’s time. (4) (b) In fact, the correlation between the two markets is 0.47. (I.e. correlation coefficient = 0.47). Calculate the mean and standard deviation of the estimated total market size in one year’s time. (3) (c) The Vice President of the Private Network Equipment Division wants to be at least 87.5% sure of having enough capacity to meet estimated market size next year. We do not know the shape of the distribution of market size but we do know that the distribution is symmetric. What market size figure in $bn should the Vice President plan for, so as to be at least 87.5% sure the actual market will be lower than this figure? Qu. #2 . A large survey of customers who called a customer service toll-free telephone number found that 46% of customers were satisfied with the service they received. Since the survey, the customer service agents have received additional training. After the training, interviews with 10 randomly selected customers found that 6 of them were satisfied with the service they received. (3) (a) What is the probability that 6 out of 10 randomly selected customers would have said they were satisfied with the service they received, before the training. (5) (b) What is the probability that 60 or more out of 100 randomly selected customers would have said they were satisfied with the service they received, before the training. (Hint: Use continuity correction.) (2) (c ) Do you think the training has improved customer satisfaction. State your
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