Starbucks
PROBLEM-1 Prof. Hardtack gave four Friday quizzes last semester in his 10 student senior tax accounting class. Find the mean, standard deviation and coefficient of variation for each quiz. a) How do these data sets differ in terms of Central Tendency and Dispersion? b) Briefly describe and compare student performance on each quiz. Quiz 60 60 60 60 71 73 74 75 88 99 1 Quiz 65 65 65 65 70 74 79 79 79 79 2 Quiz 66 67 70 71 72 72 74 74 95 99 3 Quiz 10 49 70 80 85 88 90 93 97 98 4
PROBLEM 2
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A multinational bank issuing Master Card is monitoring the use of credit card account holders in the context of their spending habits. A market survey shows that the average monthly spending of it’s regular card users is normally distributed with mean Rs.2800 and standard deviation Rs.900. The customers are classified into four categories according to pattern of spending: a. b. c. d. Category 1 spends less than Rs.2000. Category 2 spends Rs.2000 or more but less than Rs.3000. Category 3 spends Rs.3000 or more but less than Rs.4000. Category 4 spends Rs.4000 or more. What proportion of customers would you expect to fall into each category?
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1
PROBLEM 3
The foreman of a bottling plant has observed that the amount of soda in each 32 ounce bottle is actually a normally distributed random variable with a mean of 32.2 ounce & S.D of 0.3 ounce. A) If a customer buys 1 bottle, what is the probability that the bottle will contain more than 32 ounce? B) If a customer buys a carton of 4 bottles, what is the probability that the mean amount of 4 bottles will be greater than 32 ounce?
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PROBLEM 4(A) & 4(B)
(A) A manufacturer of automobile batteries claims that the distribution of the lengths of life of its battery has a mean of 54 months & a S.D of 6 months. Suppose a consumer group decides to check the claim by purchasing a sample of 50 0f these batteries & subjecting them to tests that determine their lives. Assuming that the manufacturer’s claim is true,
PROBLEM 2
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A multinational bank issuing Master Card is monitoring the use of credit card account holders in the context of their spending habits. A market survey shows that the average monthly spending of it’s regular card users is normally distributed with mean Rs.2800 and standard deviation Rs.900. The customers are classified into four categories according to pattern of spending: a. b. c. d. Category 1 spends less than Rs.2000. Category 2 spends Rs.2000 or more but less than Rs.3000. Category 3 spends Rs.3000 or more but less than Rs.4000. Category 4 spends Rs.4000 or more. What proportion of customers would you expect to fall into each category?
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1
PROBLEM 3
The foreman of a bottling plant has observed that the amount of soda in each 32 ounce bottle is actually a normally distributed random variable with a mean of 32.2 ounce & S.D of 0.3 ounce. A) If a customer buys 1 bottle, what is the probability that the bottle will contain more than 32 ounce? B) If a customer buys a carton of 4 bottles, what is the probability that the mean amount of 4 bottles will be greater than 32 ounce?
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PROBLEM 4(A) & 4(B)
(A) A manufacturer of automobile batteries claims that the distribution of the lengths of life of its battery has a mean of 54 months & a S.D of 6 months. Suppose a consumer group decides to check the claim by purchasing a sample of 50 0f these batteries & subjecting them to tests that determine their lives. Assuming that the manufacturer’s claim is true,