291sample Test2

291sample Test2 - Name: _ Test Version ID: A MGSC 291 -...

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Test Version ID : A 1 MGSC 291 - Sample Test 2 1. Please write your name on the top of this test paper. 2. On the Bubble Answer Form, please fill in the following information: a) Your name b) Last 4 digits of your SSN in the Student ID Number section (leave the 5th column blank). c) Fill in the bubbles below your 4-digit SSN. 3. Turn in all test materials (test paper, bubble form, formula sheet, z and t tables) when you are finished. Failure to follow any of the above instructions will result in a loss of points on the exam. You may use a calculator and the provided formula sheet, z -table, and t -table. You have 75 minutes to complete the exam. Each question is worth 5 points and has a single correct answer. 1. The U.S. Bureau of Labor Statistics reports that the annual expenditure on food and drink for families is normally distributed with a mean of $6800 and standard deviation of $1500. Therefore, 46% of families annually spend less than how much on food and drink? a) 6650 b) 6316 c) 7284 d) 6950 2. A population has a mean of $500 and a standard deviation of $22. Suppose a simple random sample of 35 is selected from the population and the sample mean is computed. What is probability that the sample mean will be within $10 of the population mean? a) .3472 b) .6736 c) .9928 d) .3264 3. In an on-line auction of a Nintendo Wii system, the secret reserve price is uniformly distributed between $180 and $220. What is the standard deviation of the reserve price? a) 6.67 b) 10.0 c) 8.16 d) 11.55 4. Thirty percent of privately owned companies are owned by women. A sample of 200 companies is randomly selected and the sample proportion owned by women is computed and found to be 32%. The standard deviation of the sampling distribution of the sample proportion is 0.0324. What is the probability of selecting a sample of 200 companies and obtaining a sample proportion of less than 32% women-owned? a)
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This note was uploaded on 09/28/2011 for the course MGSC 291 taught by Professor Rollins during the Spring '09 term at South Carolina.

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291sample Test2 - Name: _ Test Version ID: A MGSC 291 -...

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