SampleExam1

SampleExam1 - MGMT 305 SAMPLE EXAM I Fall 2011 Date:...

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MGMT 305 SAMPLE EXAM I – Fall 2011 Date: September29, 2011 Location – CL50 224, MTHW 210 8:00-9:30PM Identify the letter of the choice that best completes the statement or answers the question. ____ 1. Expected value and variance of a random variable a. both always nonnegative b. both can be negative c. can be negative and always nonnegative d. always nonnegative and can be negative ____ 2. X is a normal random variable with mean 0 and variance 1, if p{X>x}=0.6, then we can say a. x<0 b. x>0 c. x=0 d. cannot be determine ____ 3. z is a standard normal random variable, if p{z>b}=0.2. then p{|z|<=|b|}= a. 0.8 b. 0.4 c. 0.6 d. 0.2 ____ 4. Which of the following best describes the population mean and the sample mean? a. Population mean and sample mean both are random variables. b. Population mean is a random variable and sample mean is a fixed quantity c. Population mean is a fixed quantity and sample mean is a random variable. d. Population mean and sample mean both are fixed quantities. ____ 5. In estimating the population mean, it is known that the necessary sample size is 200 in order to provide a particular margin of error at 95% confidence level. With a 98% confidence level, what is the minimum sample size that needs to be taken if the desired margin of error is doubled? a. 60 b. 71 c. 119 d. 142 ____ 6. Using α = 0.05, a confidence interval for a population mean is determined to be 27.25 to 32.75. If only α is decreased, the 100(1- α )% confidence interval for the population mean a. becomes narrower. b. becomes wider. c. does not change. d. cannot be determined.
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____ 7. The sample variance of the data {2, 4, 6, 8, 10} is 10. a. The sample standard deviation of the data {1, 2, 3, 4, 5} is 5 b. The sample standard deviation of the data {2, 4, 6, 8, 10} is 5 c. The sample variance of the data {4, 8, 12, 16, 20} is 20 d. The sample variance of the data {4, 8, 12, 16, 20} is 40 ____ 8. The average price of personal computers manufactured by MNM Company is $1,200 with a standard deviation of $200. Furthermore, it is known that the computer prices manufactured by MNM are normally distributed. Computers with prices of more than $1,550 receive a discount. If 10 computers were randomly selected, what is the probability that more than 2 computers receiving discount? a. 4.00% b. 0.40% c. 1.31% d. 0.62% ____ 9. A population is normally distributed with a mean of μ and a standard deviation of 4. If a sample of size 16 is selected from this population, what is the probability that the sample mean will be within ±2 of the population mean? a.
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SampleExam1 - MGMT 305 SAMPLE EXAM I Fall 2011 Date:...

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