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Quiz 2 FA 04 KEY

# Quiz 2 FA 04 KEY - ECON 2843 Quiz 2 Fall 2004 Name ID KEY...

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ECON 2843 Name KEY Quiz 2 Fall 2004 ID # Students must show all work on problems that involve calculation. Questions 1 - 3 refer to the following table, which gives the joint probability distribution for workers and shifts at Flex Furniture Company. Shift 1 2 3 Total Worker Male .32 .27 Female .15 .25 .01 Total .25 1. What is the probability that a randomly selected worker will work on shift 1 ? a. .07 b. .15 c. .32 d. .47 * e. .681 2. If a shift 3 worker is randomly selected for drug testing, what is the probability that the worker will be a female? a. .01 b. .024 c. .0357 * d. .41 e. 1.2 3. If an employee is selected at random, what is the probability that the person will be a male working on shift 2? a. 0 * b. .12 c. .25 d. .414 e. .5 4. An investor is selecting stocks for a portfolio using a Select 5 strategy, where the 5 stocks that pay the highest dividends are selected from among the 30 stocks that make up the Dow Jones Industrial Index. How many possible orderings are possible? 17,100,720 1

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Questions 5 – 7 refer to the following. In 2003, data were collected from the population of elderly residents in an Oklahoma town. 20 percent of the elderly residents got the flu. Of those residents who did not get the flu, 53.75 percent took the flu shot. Two percent of these residents
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Quiz 2 FA 04 KEY - ECON 2843 Quiz 2 Fall 2004 Name ID KEY...

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