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 Ramada Inn, 50% at the Sheraton, and 30% at the Holiday Inn. It is found (a given condition) that plumbing is faulty at 5% of the rooms at the Ramada Inn, 4% of the rooms at the Sheraton, and 8% of the rooms at the Holiday Inn. What is the probability that: (10 pts)

a) A client will be assigned a room with faulty plumbing
b) A person with a room having faulty plumbing was assigned accommodations at the Holiday Inn

4. Suppose that four inspectors at a film factory are suppose to stamp the expiration date on each package of film at the end of the assembly line. John, who stamps 20% of the packages, fails to stamp the expiration date once in every 200...

...How many standard deviations is my hypothesis (sample mean) is away from the actual (null hypothesis population mean)
T – statistic
Rejecting the null may be a mistake = p –value
ONE SAMPLE
3 formulas
T.Dist.rt (t, sample size - 1 “df”) -> alternative that mu is bigger than a
1 – T.Dist.rt (t, sample size – 1) -> mu is less than a
T.Dist.2t(t,samplesize - 1) -> not equal to
p < significant level reject the null
NEVER accept null
TWO SAMPLE...

...
Final Project: Nyke Shoe Company
Barbara Greczyn
STA 201 - Principles of Statistics
Instructor Alok Dihtal
April 26, 2015
Introduction
Nyke Shoe Company has been in business for over 50 years. Over the last five years, the company has been undergoing some financial hardship due to an erratic market and an inability to understand what the consumer actually needs. In a last ditch effort to avoid bankruptcy, they have adopted a new...

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Statistics
BUS308: Statistics for Mangers
Instructor:
Learning Statistics
Statistical data has become an item that we see all around us in our everyday lives, from television programs talking about selling products or politicians using data to show how they perform in their jobs, in hopes to be reelected. Throughout the course in Statistics for Managers, I have learned many things on how the use of statistical...

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HRM 595 FinalExam
1. Joe McDonald is the HR manager of ACME chemicals. His boss, Bill Jacobs, is concerned that the interactions between the various departments of the company are inconsistent and that there is too much competition between departments rather than cooperation. Bill has asked you about ways to improve the negotiations between business units. In your explanation to Bill, you need to explain the following: What are the...

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DOWNLOADACC 349 FinalExam
1) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information? 2) At the end of the year, manufacturing overhead has been over applied. What occurred to create this situation?3) Luca Company over applied manufacturing overhead during 2006. Which one of the following is part of the year end entry to dispose of the over applied amount assuming the amount is material4) Which of the...

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ECO 550 FINALEXAM
1. The Prisoner’s Dilemma involves two spies who are held in separate soundproof rooms. But even if the two spies could communicate, what makes it difficult for them to achieve the cooperative solution (both not confessing)?
2. A key to analyzing subgame perfect equilibrium strategy in sequential games is
3. In making promises that are not guaranteed by third parties and in imposing penalties that are not enforced...

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ECO 550 FINALEXAM
1). In the absence of any legally binding enforcement mechanism, individual cartel producers may find it advantageous to cheat on the agreements and engage in secret price concessions.
2). When a promisor fails to put full effort into the performance of an agreement, yet the lack of effort is not independently verifiable, this lack of effort constitutes a
3). The Herfindahl-Hirschman index is a measure of ____.
4). In...

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ECO 550 FINALExam
1). Evidence from empirical studies of short-run cost-output relationships lends support to the:
2). Break-even analysis usually assumes all of the following except:
3). In determining the shape of the cost-output relationship only ____ depreciation is relevant. Answer
4). In the linear breakeven model, the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by:
5). A...

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