MAT 540 Midterm.docx

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Round your answer to four places after the decimal. Selected Answer: 0.0 401 Correct Answer: Evaluation Method Correct Answer Exact Match 0.0401 Exact Match 0.0400 Exact Match 0.0402 Exact Match .0401 Exact Match .0400 Exact Match .0402 Question 27 5 out of 5 points The drying rate in an industrial process is dependent on many factors and varies according to the following distribution. Compute the mean drying time. Use two places after the decimal.

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Selected Answer: 4 .38 Correct Answer: Evaluation Method Correct Answer Exact Match 4.38 Exact Match 4.37 Exact Match 4.39 Question 28 5 out of 5 points A loaf of bread is normally distributed with a mean of 22 oz and a standard deviation of 0.5 oz. What is the probability that a loaf is larger than 21 oz? Round your answer to four places after the decimal. Selected Answer: 0.9 772 Correct Answer: Evaluation Method Correct Answer Exact Match 0.9772 Exact Match 0.9771 Exact Match 0.9773 Exact Match .9772 Exact Match .9771 Exact Match .9773 Question 29
5 out of 5 points An investor is considering 4 different opportunities, A, B, C, or D. The payoff for each opportunity will depend on the economic conditions, represented in the payoff table below. Economic Condition Poor Average Good Excellent Investment (S1) (S2) (S3) (S4) A 50 75 20 30 B 80 15 40 50 C -100 300 -50 10 D 25 25 25 25 If the probabilities of each economic condition are 0.5, 0.1, 0.35, and 0.05 respectively, what is the highest expected payoff? Selected Answer: 58 Correct Answer: Evaluation Method Correct Answer Exact Match 58 Question 30 0 out of 5 points The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code. The following payoff table is given in thousands of dollars (e.g. 50 = \$50,000).

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If he uses the maximin criterion, how many new workers will he hire? Selected Answer: 26 Correct Answer: Evaluation Method Correct Answer Exact Match 1 Question 31 0 out of 5 points Consider the following probability distribution: Demand Probability 0 0.15 1 0.30 2 0.25 3 0.15 4 0.15 Partition 100 numbers from 0 to 99 according to the probability of each demand value, starting with 0. A number from the 100 numbers is going to be selected. What is the corresponding demand value if 62 is selected? Selected Answer: [None Given] Correct Answer: Evaluation Method Correct Answer Exact Match 2
Question 32 0 out of 5 points This is the data from the last 4 weeks: Use the equation of the regression line to forecast the increased sales for when the number of ads is 10. Selected Answer: [None Given] Correct Answer: Evaluation Method Correct Answer Exact Match 230 Question 33 5 out of 5 points Daily highs in Sacramento for the past week (from least to most recent) were: 95, 102, 101, 96, 95, 90 and 92. Develop a forecast for today using a 2 day moving average. Selected Answer: 91 Correct Answer: Evaluation Method Correct Answer

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Exact Match 91 Question 34 5 out of 5 points The following sales data are available for 2003-2008.
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