Final+Exam+Review+Sheet+SUMMER+2011

Final+Exam+Review+Sheet+SUMMER+2011 - Montgomery College...

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Montgomery College Business, Science, Mathematics and Technology Division MA116 – Final Exam Review Sheet Prof. Munther Alraban Summer II 2011 Name: _______________________ Use the following to answer questions 1-3. In a certain town 60% of the households own mutual funds, 40% own individual stocks, and 20% own both mutual funds and individual stocks. 1. The proportion of households that own mutual funds but not individual stocks is a. 20%. b. 30%. c. 40%. d. 50%. 2. The proportion of households that own neither mutual funds nor individual stocks is 3. The proportion of households that own mutual funds but not individual stocks or individual stocks but not mutual funds is Use the following to answer questions 4-5. A roulette wheel has 38 slots in which the ball can land. Two of the slots are green, 18 are red, and 18 are black. The ball is equally likely to land in any slot. The roulette wheel is going to be spun twice, and the outcomes of the two spins are independent. 4. The probability that it lands on red neither time is 5. The probability that it lands once on red and once on black is a. 0.2244. b. 0.2770. c. 0.4488. d. 0.9474.
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6. In an instant lottery, your chances of winning are 0.2. If you play the lottery five times and outcomes are independent, the probability that you win at most once is 7. In an instant lottery, your chances of winning are 0.2. If you play the lottery five times and outcomes are independent, the probability that you win all five times is Use the following to answer questions 8-10. A survey asks a random sample of 2500 adults in Ohio if they support an increase in the state sales tax from 5.25% to 5.50%, with the additional revenue going to education. Let X denote the number in the sample that say they support the increase. Suppose that 30% of all adults in Ohio support the increase. 8. The mean of X is 9. The standard deviation of X is a. 22.91. b. 27.39. c. 5255. d. 750. 10. The probability that X is at least 800 is 11. The upper 0.01 critical value of the standard normal distribution is
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Use the following to answer question 12. An agricultural researcher plants 100 plots with a new variety of corn. The average yield for these plots is 150 x = bushels per acre. Assume that the yield per acre for the new variety of corn follows a normal distribution with unknown mean μ and standard deviation 20 σ = bushels per acre. 12. A 90% confidence interval for μ is
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