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Unformatted text preview: is less than 480? .1314 1 4. One study on managers’ satisfaction with management tools reveals that 59% of all managers use selfdirected teams as a management tool. Suppose 70 managers selected randomly in the U.S. are interviewed. What is the probability that fewer than 35 use selfdirected work teams as a management tool? Full credit for either answer: .0495 using the continuity correction factor .0630 without using the continuity correction factor 5. A subdivision on the southwest side of Oklahoma City contains 900 houses. The subdivision was built in 1983. A sample of 144 houses is selected randomly and evaluated by an appraiser. If the probability that the sample mean will exceed the population mean by more than $1,500 is 2.28%, then what is the standard deviation of appraised values of all the houses in this subdivision? $9,814.35 4 for answer = $9,000 with otherwise correct work. 2...
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 Spring '08
 HUDGINS
 Standard Deviation, Probability theory, randomly selected score

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