Kshirsagar, Nikhil Third exam Fall10

Kshirsagar, Nikhil Third exam Fall10 - Problem Points 1 2 3...

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Problem Points Earned 1 12 2 12 3 12 4 12 5 12 6 12 7 13 8 15 Total 100 0 1). (12 pts) A company is satisfied with the performance of the Accounts Receivable division of their company, if bills to customers are paid within 4 calendar weeks of the date of mailing (28 days). In order to measure perfomance, a random sample of 15 bills is sampled from a large number of customer billings. The time till the receipt of payment is shown below. Determine if this data indicates whether or not the Accounts Receivble division is Note: 4 calendar weeks = 28 days Days till Bill was paid. 29 33 32 30 26 25 26 28 26 29 25 30 29 29 31 Answers: mean = 28.53 Stadard Daviation= 2.5 count (n)= 15 Lets use template from the file "onesam.xls" Template for Confidence Interval Sample Sample Sample Mean SD n alpha Enter ===> 28.53 2.5 15 0.05 functioning satisfactorily. (Use α = .05).
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Confidence Interval is 27.15 to 29.92 As we can see 28 lies between the confidence interval, we accept the null hypothesis, hen
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nce accounts Receivable division is working satisfactorily.
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2. (12 pts) An auditor would like to determine the average cost per day of business trips taken by company employees to within two dollars. Based on past data, the standard deviation of the average cost per day on business trips is approximately twenty five dollars. How large a Answer: Let us take, for alpha = 0.05 we will take z= 1.96 Sample standard Daviation= 25 Desired Width= 2 n>= 600.23 Approximately 601 Therefore, approximately we will need 601 samples to get goo sample must she take is she uses α = .05 ?
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od result
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3. (12 pts) An automobile dealership knows from experience that most people will want to test drive a car before buying it. Accordingly their goal is get half of the serious sales prospects to test drive a vehicle when they visit the dealership. Last month of two hundred serious prospects, seventy test drove a vehicle during their visit to the dealership. Is the dealership Answers: Number of serious Prospects (n) = 200 Number of people who took test drive (x) = 70 Alpha 0.05 Hypothesis Definition Ho: P=Po Ha: P!=Po where, Po=0.5 Template for Confidence Interval Sample Sample Successes Size x n Alpha Enter ==> 70 200 0.05 Sample Proportion = 0.35 Confidence Interval is 0.2839 to 0.4161 Null Hypothesis is rejected, since 0.5 doesnot lie between the confidence inter Hence Delearship doesnot meet the goal. meeting its goal? Use α = .05.
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rval
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4. (12 pts) Twice a year, a regional manager of a US company tours ten cities in Canada where his company does business. He always stays at the same ten hotels when he makes these trips. At each hotel he converted a small amount of American currency into Canadian currency for tips and miscellaneous uses. Hotels are notorious for not exchanging currency at the "official" exchange rate. The manager kept a record of the exchange
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This note was uploaded on 10/02/2011 for the course MIS 6312 taught by Professor Wiorkowski during the Spring '11 term at University of Texas at Dallas, Richardson.

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Kshirsagar, Nikhil Third exam Fall10 - Problem Points 1 2 3...

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