EMGT 571: Statistics I Take Home Final Exam
EMGT 571
STATISTICS I
TAKE HOME FINAL EXAM
Problems – Answer the following problems…BE SURE TO SHOW ALL WORK!!!. You can use excel, SPSS or word as the medium for generating solutions to the problems. I recommend you use excel and SPSS
1. The time at which the mailman delivers the mail follows a normal distribution with a mean of 2:00PM and a standard deviation of 15 minutes (20 pts)
a) What is the probability that the mail will arrive before 1:50PM? b) What is the probability that the mail will arrive after 2:30PM? c) What is the probability that the mail will arrive between 1:40PM and 2:20PM? d) Between what two times (equally before the mean and equally after the mean) accounts for the mail being delivered 95% of the time?
2. The income of junior executives in a large corporation are normally distributed with a standard deviation of $1200. A cutback is pending, at which time those who earn less than $28,000 will be discharged. If such a cut represents 10% of the junior executives, what is the current mean (average) salary of the group of junior executives? (10 points)
3. A large industrial firm uses 3 local motels to provide overnight accommodations for its clients. From past experience it is known that 20% of the clients are assigned rooms at the …show more content…
A manufacturer of a certain type of large machine wishes to buy rivets from one of two suppliers. It is important that the breaking strength of each rivet exceed 10,000 PSI. (Below 10,000 PSI results a defective rivet). Two suppliers (A & B) offer this type of rivet. Both have rivets whose breaking strength are normally distributed. The mean breaking strength of supplier A is 14,000 PSI with a standard deviation of 2,000 PSI. The mean breaking strength of supplier B is 13,000 PSI with a standard deviation of 1,000 PSI. Which supplier should the manufacturer go with? Why? (Hint: think about the “amount of defects” that result from each supplier) (10
STATISTICS I
TAKE HOME FINAL EXAM
Problems – Answer the following problems…BE SURE TO SHOW ALL WORK!!!. You can use excel, SPSS or word as the medium for generating solutions to the problems. I recommend you use excel and SPSS
1. The time at which the mailman delivers the mail follows a normal distribution with a mean of 2:00PM and a standard deviation of 15 minutes (20 pts)
a) What is the probability that the mail will arrive before 1:50PM? b) What is the probability that the mail will arrive after 2:30PM? c) What is the probability that the mail will arrive between 1:40PM and 2:20PM? d) Between what two times (equally before the mean and equally after the mean) accounts for the mail being delivered 95% of the time?
2. The income of junior executives in a large corporation are normally distributed with a standard deviation of $1200. A cutback is pending, at which time those who earn less than $28,000 will be discharged. If such a cut represents 10% of the junior executives, what is the current mean (average) salary of the group of junior executives? (10 points)
3. A large industrial firm uses 3 local motels to provide overnight accommodations for its clients. From past experience it is known that 20% of the clients are assigned rooms at the …show more content…
A manufacturer of a certain type of large machine wishes to buy rivets from one of two suppliers. It is important that the breaking strength of each rivet exceed 10,000 PSI. (Below 10,000 PSI results a defective rivet). Two suppliers (A & B) offer this type of rivet. Both have rivets whose breaking strength are normally distributed. The mean breaking strength of supplier A is 14,000 PSI with a standard deviation of 2,000 PSI. The mean breaking strength of supplier B is 13,000 PSI with a standard deviation of 1,000 PSI. Which supplier should the manufacturer go with? Why? (Hint: think about the “amount of defects” that result from each supplier) (10