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Llantas Inc. developed a new tire that is expected to earn $1,000 in profit if customer demand is low, $2,000
if customer demand is moderate, and $5,000 if demand is high. The probab
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uiz Submissions - Test3
Attempt 1
Written: Feb 28, 2014 8:20 PM - Feb 28, 2014 10:29 PM
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A camera manufacturer just shipped
5.2 Consider the following discrete probability distribution:
Random Variable Probability
1
2
3
4
0.18
0.25
0.35
0.22
a) Calculate the mean of this distribution.
b) Calculate the standard deviation of
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The main drawback to using secondary data is that
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it may be expensive to obtain the data.
the subjects of interest need to be directly observed to collect
the data.
the subjects of i
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If the order of objects is not of importance, how many ways can I select 7 objects 3 at a time?
1) 21
2) 35
3) 49
4) 210
Questi
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The probability that I draw three of a
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As the size of the sample increases,
the standard error of the mean becomes smaller.
the population standard deviation increases.
the sampling
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75% of college students do exercise in a regular basis. From a sample of 10 college students, what is
the probability that 7 students do exercise in a regular basis?
1) 0.0404
2) 0.2503
3) 0
6.2 For a standard normal distribution, determine the following:
a)
b)
c)
d)
P(z > 1.35)
P(z > -0.42)
P(-1.70 z -0.65)
P(-1.69 z 0.20)
6.3 A random variable follows the normal probability distributio
9.2 Calculate the p-value for the following conditions and determine whether or not to reject
the null hypothesis:
a) one-tail test, Zx = 1.46, and a = 0.10
b) one-tail test, Zx = -2.48, and a = 0.01
7.2 Jeff Bollinger of Prudential Realtors has 20 residential listings under contract. The following table
shows the number of days each of these 20 houses has been on the market as of today.
20 21 2 1
A survey of adults who typically work full-time from home recorded their current education levels. The results are shown in the table
below.
Education Level
Bachelor's degree or higher
Some college
Hi