302 Mid Notes

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The worksheet “Insurance” in the Excel workbook MATH302_Midterm.xls, which is attached, contains data on the percentage of people without health insurance coverage.   These data are based on samples taken in 2004 for the fifty states and the District of Columbia. Use these data to answer questions 1 and 2.a.  On average, what percentage of the people in the fifty states and the District of Columbia do not have health insurance? Mean:   14.15  Round your answer to 2 decimal places as necessary.b.  What is the median percentage of people in the fifty states and District of Columbia who do not have health insurance? Median: 13.50 Round your answer to 2 decimal places as necessary.c.  What is the standard deviation of the percentage of people in the fifty states and District of Columbia who do not have health insurance?Standard deviation:  4.10   Round your answer to 2 decimal places as necessary. Answer Key: 14.15, 13.50, 3.96|4.16| Question 2 of 17| 1.0 Points|

The worksheet “Insurance” in the Excel workbook MATH302_Midterm.xls, which is attached, contains data on the percentage of people without health insurance coverage. These data are based on samples taken in 2004 for the fifty states and the District of Columbia. Use these data to answer questions 1 and 2. The distribution of the data given is: |     MATH302_Midterm.xls|     30 KB| | |

A. Normally distributed| |
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B. Positively Skewed| |
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C. Negatively Skewed| |
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D. Binomially distributed| |
Answer Key: BFeedback: When the mean is greater than the median, that can indicate that the distribution is skewed to the right. (See the discussion on page 125.) The presence of outliers will also indicate skewness. Using the procedure to identify outliers on page 160, the IQR is 4.4. There are two data values that are greater than Q3 + 1.5*IQR, indicating the distribution is positively skewed.| Question 3 of 17| 1.0 Points|

An urn contains 12 balls identical in every respect except their color. There are 3 red balls, 7 green balls, and 2 blue balls. You draw two balls from the urn, but replace the first ball before drawing the second.  Find the probability that the first ball drawn is red and the second ball drawn is green. Answer:   .1458  Round your answer to 4 decimal places as necessary. Answer Key: 0.1458| Question 4 of 17| 1.0 Points|

Anne is applying for a bank loan to open a pizza franchise. She must first complete a written application and if the written application is approved, be interviewed by bank officers. If an applicant’s written application is not approved the applicant is not granted an interview with the bank officers. Past records for this bank show that the probability of an applicant having his or her written application approved is 0.63. Records also indicate that the interviewing committee approves 85% of the individuals they interview. Find the probability that Anne’s loan request is approved. Answer:   .54  Round your answer to 2 decimal places as necessary. Answer Key: 0.54| Question 5 of 17| 1.0 Points|

A restaurant menu has a price-fixed complete dinner that consists of an appetizer, entrée, beverage, and dessert. You have a choice of 5 appetizers, 10 entrees, 3 beverages, and 6 desserts. How many possible complete dinners are possible? Answer:   900 Answer Key: 900| Question 6 of 17| 1.0 Points|

The Big Triple at the local racetrack consists of picking the correct order of finish of the first three horses in the ninth race.  If there are 12 horses entered in today’s ninth race, how many Big Triple outcomes are possible?Answer:   1320 Answer Key: 1320| Question 7 of 17| 1.0 Points|

In February 2002 the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products. According to a survey conducted by AC Nielsen in April 2002, 68% of the consumers in Argentina were buying fewer products than before...
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