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If the random variable of x is normally distributed

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Unformatted text preview: on 23. The _____________ distribution would most likely be used to describe the distribution of time between arrivals of customers at the grocery store. A. Normal B. Exponential C. Poisson D. Binomial E. Uniform AACSB: Reflective Thinking Bloom's: Analysis Difficulty: Medium Topic: Exponential Distribution 1-478 Chapter 01 - An Introduction to Business Statistics 24. The area under the normal curve between z = 0 and z = 1 is ________________ the area under the normal curve between z = 1 and z = 2. A. Less than B. Greater than C. Equal to D. A, B, or C above dependent on the value of the mean E. A, B, or C above dependent on the value of the standard deviation AACSB: Reflective Thinking Bloom's: Analysis Difficulty: Medium Topic: Normal Distribution 25. Values of the standard normal random variable are measured A. With reference to specific units B. In the units in which the mean is measured C. In the number of standard deviations from the mean D. In squared units in which the mean is measured E. None of the above AACSB: Reflective Thinking Bloom's: Comprehension Difficulty: Medium Topic: Normal Distribution 26. If the random variable X has a mean of µ and a standard deviation σ then (X - µ)/σ has a mean and standard deviation respectively: A. and B. and s C. 1 and 0 D. 0 and 1 AACSB: Reflective Thinking Bloom's: Synthesis Difficulty: Medium Topic: Normal Distribution 1-479 Chapter 01 - An Introduction to Business Statistics 27. Which of the following is a continuous distribution? A. Poisson B. Hypergeometric C. Exponential D. Binomial AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Easy Topic: Exponential Distribution 28. The price-to-earning ratio for firms in a given industry is distributed according to normal distribution. In this industry, a firm with a standard normal variable value of Z = 1: A. Has an above average price-to-earning ratio. B. Has a below average price-to-earnings ratio. C. Has an average price-to-earnings ratio. D. May have an above average or below average price-to-earnings ratio. AACSB: Reflective Thinking Bloom's: Synthesis Difficulty: Medium Topic: Normal Distribution 29. The normal approximation of the binomial distribution is appropriate when: A. np ≥ 5 B. n(1 - p) ≥ 5 C. np ≤ 5 D. n(1 - p) ≤ .5 and np ≤ 5 E. np ≥ .5 and n(1 - p) ≥ 5 AACSB: Reflective Thinking Bloom's: Knowledge Difficulty: Medium Topic: Binomial - Normal Approximation 1-480 Chapter 01 - An Introduction to Business Statistics 30. If the wages of workers for a given company are normally distributed with a mean of $15 per hour, then the proportion of the workers earning more than $13 per hour: A. Is greater than the proportion earning less than $13 per hour. B. Is greater than the proportion earning less than $18 per hour. C. Is less than 50%. D. Is less than the proportion earning more than the mean wage. AACSB: Reflective Thinking Bloom's: Analysis Difficulty: Hard Topic: Normal Distribution 31. A student's grade on an examination was transformed to a z value which is negative. Therefore, we know that he scored: A. Higher than 16% of the class B. Higher than 45% of the class C. Above the first quartile D. Below the mean E. Lower than 16% of the class AACSB: Analytical Studies Bloom's: Comprehension Difficulty: Medium Topic: Normal Distribution 32. A study shows that employees that begin their work day at 9:00 a.m. vary their times of arrival uniformly from 8:40 a.m. to 9:30 a.m. The probability that a randomly chosen employee reports to work between 9:00 and 9:10 is: A. 40% B. 20% C. 10% D. 30% E. 16.7% AACSB: Analytical Studies Bloom's: Application Difficulty: Medium Topic: Uniform Distribution 1-481 Chapter 01 - An Introduction to Business Statistics 33. The relationship between the standard normal random variable Z and normal random variable X is that: A. Only the normal random variable X is continuous. B. Only the standard normal variable Z is continuous. C. The standard normal variable Z counts the number of standard deviations that the value of the normal random variable X is away from its mean. D. The values of the standard normal random variable Z cannot be negative. E. The values of the normal random variable X cannot be negative. AACSB: Reflective Thinking Bloom's: Synthesis Difficulty: Hard Topic: Normal Distribution 34. The MPG (Miles per Gallon) for a mid-size car is normally distributed with a mean of 32 and a standard deviation of .8. What is the probability that the MPG for a selected mid-size car would be: Less than 33.2? A. 43.32% B. 6.68% C. 93.32% D. 86.64% E. 13.36% AACSB: Analytical Studies Bloom's: Application Difficulty: Medium Topic: Normal Distribution 35. The MPG (Miles per Gallon) for a mid-size car is normally distributed with a mean of 32 and a standard deviation of .8. What is the probability that the MPG for a selected mid-size car would be: More than 33.2? A. 43.32% B. 6.68% C. 93.32% D. 86.64% E. 13.36% AACSB: Analytical Studies Bloom's: Application Difficulty: Medium Topic: Normal Distribution 1-482 Chapter 01 - An Introduction to...
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