Final Exam

Pages: 10 (1601 words) Published: March 24, 2013
TCO D) PuttingPeople2Work has a growing business placing out-of-work MBAs. They claim they can place a client in a job in their field in less than 36 weeks. You are given the following data from a sample. Sample size: 100

Population standard deviation: 5
Sample mean: 34.2
Formulate a hypothesis test to evaluate the claim. (Points : 10) Ho: µ = 36; Ha: µ ≠ 36
Ho: µ ≥ 36; Ha: µ < 36
Ho: µ ≤ 34.2; Ha: µ > 34.2
Ho: µ > 36; Ha: µ ≤ 36

Ans. b.
H0 must always have equal sign, < 36 weeks

2. (TCO B) The Republican party is interested in studying the number of republicans that might vote in a particular congressional district. Assume that the number of voters is binomially distributed by party affiliation (either republican or not republican). If 10 people show up at the polls, determine the following:

Binomial distribution

10| n|
0.5| p|

X| P(X)| cumulative
probability|
0| 0.00098| 0.00098|
1| 0.00977| 0.01074|
2| 0.04395| 0.05469|
3| 0.11719| 0.17188|
4| 0.20508| 0.37695|
5| 0.24609| 0.62305|
6| 0.20508| 0.82813|
7| 0.11719| 0.94531|
8| 0.04395| 0.98926|
9| 0.00977| 0.99902|
10| 0.00098| 1.00000|

What is the probability that no more than four will be republicans? (Points : 10) 38%
12%
21%
62%

Ans. a

look at x=4, cumulative probability

3. (TCO A) Company ABC had sales per month as listed below. Using the Minitab output given, determine: (A) Range (5 points);
(B) Median (5 points); and
(C) The range of the data that would contain 68% of the results. (5 points). Raw data: sales/month (Millions of \$)
23
45
34
34
56
67
54
34
45
56
23
19

Descriptive Statistics: Sales|
Variable| Total Count| Mean| StDev| Variance| Minimum| Maximum| Range| Sales| 12| 40.83| 15.39| 236.88| 19.00| 67.00| 48.00|

Stem-and-Leaf Display: Sales
Stem-and-leaf of Sales N = 12
Leaf Unit = 1.0|
1| 1| 9|
3| 2| 33|
3| 2| |
6| 3| 444|
6| 3| |
6| 4| |
6| 4| 55|
4| 5| 4|
3| 5| 66|
1| 6| |
1| 6| 7

|
Ans.

a. Range = maximum - minimum
Maximum observation in the data = 67
Minimum observation in the data = 19
range = 67 - 19 =48 sales/ month (Millions \$)
b. Median
Arrange the data in the ascending order
That is 19, 23, 23, 34, 34, 34, 45, 45, 54, 56, 56 67
Here, sample size n = 12 (even)
So median is the average of two middle observation
Mid=(34+45)/2 = 39.5 sales/month Millions (\$)
c. From the Mega stat output we have sample standard deviation as s=15.39 Therefore, the range of the data that would contain 68% of the result That is R +- s
(48-15.39, 48+15.39)
(32.61, 63.39)

Reference:
(TCO A) Company ABC had sales per month as listed below. Using the MegaStat output given, determine: (A) Range (5 points)
(B) Median (5 points)
(C) The range of the data that would contain 68% of the results. (5 points)

Raw data: sales/month (Millions of \$)
19
34
23
34
56
45
35
36
46
47
19
23

count 12
mean 34.75
sample variance 146.20
sample standard deviation 12.09
minimum 19
maximum 56
range 37

Stem and Leaf plot for # 1
stem unit = 10
leaf unit = 1

count| 12.00000|
mean| 34.75000|
sample variance| 146.20455|
sample standard deviation| 12.09151|
minimum| 19.00000|
maximum| 56.00000|
range| 37.00000|
| |
1st quartile| 23.00000|
median| 34.50000|
3rd quartile| 45.25000|
interquartile range| 22.25000|
mode| 19.00000|

4. (TCO C, D) Tesla Motors needs to buy axles for their new car. They are considering using Chris Cross Manufacturing as a vendor. Tesla's requirement is that 95% of the axles are 100 cm ± 2 cm. The following data is from a test run from Chris Cross Manufacturing. Should Tesla select them as a vendor? Explain your answer.

Descriptive statistics

count| 16|
mean| 99.850|
sample variance| 4.627|
sample standard deviation| 2.151|
minimum|...