A yes b no record your answers to the above multiple

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a. YES b. NO RECORD YOUR ANSWERS TO THE ABOVE MULTIPLE CHOICE/TRUE FALSE QUESTIONS ON THE ANSWER SHEET ON THE LAST PAGE. SHOW YOUR WORK PROBLEMS  SHOW ALL WORK FOR CREDIT AND PUT YOUR FINAL ANSWER IN THE BLANK. CHECK ALL CONDITIONS. ASSUME ALL CONFIDENCE INTERVALS ARE 95%. INCLUDE UNITS. WE WILL TAKE OFF 1 PT EACH TIME UNITS ARE MISSING/WRONG! Results show that 30% of all OSU students live within 3 blocks of campus. 22. You choose 8 OSU students at random. What is the chance that more than 4 of them live within 3 blocks of campus? ANS_____________ 23. You choose 100 OSU students at random. What is the chance that more than 35 of them live within 3 blocks of campus? ANS_____________ 24. A group of randomly selected 50 sales representatives from a company had average sales of $107.5 million this year. (Assume the standard deviation of sales is stable at $20.5 million.) a. You want to estimate the average sales for the entire company this year. Find a range of likely values for it using what we learned in class. 10
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b. The average sales for the entire company this year was reported to be $110 million. Based on your data do you believe this report? Explain your answer in 10 words or less. (Longer answers lose ½ the points automatically.) YES NO 25. Suppose test scores on an accounting exam have a normal distribution with mean 70 and standard deviation 10. a. You select one student at random. What is the chance that his/her score is more than 73? ANS______________ b. You select 49 students at random. What is the chance that their average score is more than 73? ANS_______________ 26. The number of miles per gallon for a 2009 Corvette has a normal distribution with mean 15 mpg and standard deviation 0.5 mpg. What is the probability that a randomly chosen corvette gets exactly 15 miles per gallon? ANS_______________ 27. Suppose 30% of OSU students are in favor of having casinos in Ohio. Two OSU students are selected at random; let X equal the number of students in the sample who are in favor of casinos in Ohio. Write down the probability distribution for X. (Remember we discussed in lecture what a probability distribution is.) 28. Suppose 85% of your employees got raises last year. You sample 100 employees at random and count the number who got a raise. What is the chance that at least 80 of the employees got a raise? ANS_______ 11
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29. Suppose a manufacturer has recorded its cost of electricity (in dollars) and the total number of hours of machine time for their factory during a certain number of weeks. Using this information, how much does the cost increase for each additional hour of machine time? (Use proper units.)
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