Mgmt 305 Question Paper
Fall 2011 - MGMT 305 - Quiz 1 Multiple Choices (1 point each)
Name: ___________________________________________ ID: _______________________
____ 1. The standard deviation of a sample of 100 observations equals 64. The variance of the sample equals
a. 8
b. 10
c. 6400
d. 4,096
____ 2. The weights (in pounds) of a sample of 36 individuals were recorded and the following statistics were calculated.
mean = 160 range = 60 mode = 165 variance = 324 median = 170
The coefficient of variation equals
a. 0.1125%
b. 11.25%
c. 203.12%
d. 0.20312%
____3. In a binomial experiment, which one(s) of the following is (are) true?
(i) The probability of success in the second trial is dependent on the outcome …show more content…
(iii) The probability of success in each trial is always equal to the probability of failure. (iv) The expected value is always greater than or equal to the variance.
a. (ii) only b. (ii) and (iv) c. (iii) and (iv) d. (i), (ii) and (iv).
____ 4. A normal distribution with a mean of 0 and a standard deviation of 1 is called
a. a probability density function
b. an ordinary normal curve
c. a standard normal distribution
d. none of these alternatives is …show more content…
Furthermore, it is known that the computer prices manufactured by MNM are normally distributed.
____6. Refer to Exhibit 2. What is the probability that a randomly selected computer will have a price of at least $1,530?
a. 0.0668
b. 0.5668
c. 0.4332
d. 1.4332
____7. Refer to Exhibit 2. Computers with prices of more than $1,750 receive a discount. What percentage of the computers will receive the discount?
a. 62%
b. 0.62%
c. 0.062%
d. 99.38%
____8. Refer to Exhibit2. What is the minimum value of the middle 95% of computer prices?
a. $1,768.80
b. $1,295.80
c. $2,400.00
d. $768.80
Exhibit 3
The price of personal computers manufactured by a company based in Dallas is normally distributed with a mean of $1,050 and a standard deviation of $200.
____9. Refer to Exhibit 3. The minimum value of the top 10% of computer prices is
a. $ 1306.00 b. $ 1450.00 c. $ 1250.00 d. $ 1050.00
____10. Refer to Exhibit 3. Computers with prices of more than $1,350 receive a discount. The percentage of the computers that will receive the discount is a. 43.32% b. 93.32% c. 6.68% d.
Name: ___________________________________________ ID: _______________________
____ 1. The standard deviation of a sample of 100 observations equals 64. The variance of the sample equals
a. 8
b. 10
c. 6400
d. 4,096
____ 2. The weights (in pounds) of a sample of 36 individuals were recorded and the following statistics were calculated.
mean = 160 range = 60 mode = 165 variance = 324 median = 170
The coefficient of variation equals
a. 0.1125%
b. 11.25%
c. 203.12%
d. 0.20312%
____3. In a binomial experiment, which one(s) of the following is (are) true?
(i) The probability of success in the second trial is dependent on the outcome …show more content…
(iii) The probability of success in each trial is always equal to the probability of failure. (iv) The expected value is always greater than or equal to the variance.
a. (ii) only b. (ii) and (iv) c. (iii) and (iv) d. (i), (ii) and (iv).
____ 4. A normal distribution with a mean of 0 and a standard deviation of 1 is called
a. a probability density function
b. an ordinary normal curve
c. a standard normal distribution
d. none of these alternatives is …show more content…
Furthermore, it is known that the computer prices manufactured by MNM are normally distributed.
____6. Refer to Exhibit 2. What is the probability that a randomly selected computer will have a price of at least $1,530?
a. 0.0668
b. 0.5668
c. 0.4332
d. 1.4332
____7. Refer to Exhibit 2. Computers with prices of more than $1,750 receive a discount. What percentage of the computers will receive the discount?
a. 62%
b. 0.62%
c. 0.062%
d. 99.38%
____8. Refer to Exhibit2. What is the minimum value of the middle 95% of computer prices?
a. $1,768.80
b. $1,295.80
c. $2,400.00
d. $768.80
Exhibit 3
The price of personal computers manufactured by a company based in Dallas is normally distributed with a mean of $1,050 and a standard deviation of $200.
____9. Refer to Exhibit 3. The minimum value of the top 10% of computer prices is
a. $ 1306.00 b. $ 1450.00 c. $ 1250.00 d. $ 1050.00
____10. Refer to Exhibit 3. Computers with prices of more than $1,350 receive a discount. The percentage of the computers that will receive the discount is a. 43.32% b. 93.32% c. 6.68% d.