Business Statistics help

Need some assistance with Businiess Statisics work.

1)

Use the following information to answer the question. The economic impact of an industry, such as sport fishing, can be measured by the retail sales it generates. In 2006, the economic impact of great lakes fishing in states bordering the great lakes had a mean of $318 and a standard deviation of $83.5. Note that all dollar amounts are in millions of dollars. Assume the distribution of retail sales is unimodal and symmetric. (Source: National Oceanic and Atmospheric Administration).

For what percentage of great lakes states would you expect the economic impact from fishing to be between $234.5 and $401.5 (in millions of dollars)?

 

Answer

 A) 95% 

 B) Nearly all 

 C) 68% 

 

D) None of these

2)  According to a snack cracker manufacturer, a batch of butter crackers has a defect rate of 6%. Suppose a quality inspector randomly inspects 400 crackers. Complete the following statement: The quality inspector should expect _______________ defective crackers, give or take ________ crackers.

Answer

A) 24; 5  

B) 45; 6 

C) 25; 12             

 

D) 48; 5

3) Use the following information to answer the question. Suppose that a recent poll of American households about pet ownership found that for households with one pet, 39% owned a dog, 33% owned a cat, and 7% owned a bird. Suppose that three households are selected randomly and with replacement. What is the probability that all three randomly selected households own a dog? (Round to the nearest hundredth)

A) 0.06

B) 0.23

C) 0.39

D) None of these

4) Which of the following is not an example of data?

 A) A list of receipt totals from one day at a national department store.

 B) A chart showing the number of goals scored per game for a NHL hockey team during one whole season.

 C) A list of the number of cars that are stopped at stop sign at a busy intersection. The number of cars waiting is recorded every 15 minutes for 8 hours.

 D) All of these are examples of data.
5) Use the following information to answer the question. Suppose that a recent poll of American households about pet ownership found that for households with one pet, 39% owned a dog, 33% owned a cat, and 7% owned a bird. Suppose that three households are selected randomly and with replacement. What is the probability that none of the three randomly selected households own a cat? (Round to the nearest hundredth.

 A) 0.70 

 B) 0.30 

 C) 0.46 

 

 D) None of these

6) Choose the best answer to complete the statement: “In a statistical context, the term variable is used. . .”

Answer

A) because there is variability in the information gathered from the members of a sample or population.

  B) because it describes a characteristic of the population which is never known. 

 C) because, like algebra, a statistical variable stands in for some unknown numerical value.

 D) because it is too difficult to get certain information from each member of a population.

7) Use the following information for the question. Male players at the high school, college and professional ranks use a regulation basketball that weighs 22.0 ounces with a standard deviation of 1.0 ounce. Assume that the weights of basketballs are approximately normally distributed.

Roughly what percentage of regulation basketballs weigh less than 20.7 ounces? Round to the nearest tenth of a percent. 

A) 9.7% of the basketballs will weigh less than 20.7 ounces.

 B) 22.3% of the basketballs will weigh less than 20.7 ounces.

 C) 40.3% of the basketballs will weigh less than 20.7 ounces.

 D) 5.7% of the basketballs will weigh less than 20.7 ounces.

8) A true/false pop quiz contains five questions. What is the probability that when guessing, a student will get at least one question correct? (Round to the nearest hundredth)  

Answer

A) 0.50 

 B) 0.97 

 C) 1.00 

 D) 0.76
 9) The worst tornado on record since 1925 is a tornado that went through Missouri, Illinois, and Indiana on March 18, 1925. It killed 689 people. Suppose that when this value was entered into a calculator or other software a mistake was made and it was entered as 1,689. Choose the statement that describes what affect this mistake will have on the mean and median. 

 
A) The median will be higher than it should be, but the mean will not be affected by the error.

 B) The median will not be affected by the error, but the mean will be higher than it should be.

 C) Both the median and the mean will be higher than they should be.

 D) The median and the mean will not be affected by the error. Both measures of center are resistant to extreme values.

10) The mean price of a pound of ground beef in 75 cities in the Midwest is $2.11 and the standard deviation is $0.56. A histogram of the data shows that the distribution is symmetrical. A local Midwest grocer is selling a pound of ground beef for $3.25. What is this price in standard units? Assuming the Empirical Rule applies, would this price be unusual or not? Round to the nearest hundredth.

Answer

D) z = -2.04; This price would not be unusual.

11) A polling agency wants to determine the size of a random sample needed to estimate the proportion of homeowners who keep a hand gun in their home for security. The estimate should have margin of error no more than 2.5 percentage points at a 95% level of confidence. Choose the most conservative answer that is closest to your calculated number, rounding to the nearest whole person. 

A) They should poll at least 1200 people.

 B) They should poll at least 1000 people.

 C) They should poll at least 400 people. 

  D) They should poll at least 1600 people.

12) Use the following information to answer the question. A pescatarian is a person who eats fish and seafood but no other animal. An event planner does some research and finds that approximately 2.75% of the people in the area where a large event is to be held are pescatarian. Treat the 250 guests expected at the event as a simple random sample from the local population of about 150,000.
On average, what proportion of the guests would be expected to be pescatarian, give or take how many? Round to the nearest whole person.

 
A) There is not enough information given to calculate expected value.

B) 8 people, give or take 4 people

C) 7 people, give or take 3 people

D) 6 people, give or take 5 people
13) Use the following information for the question. Male players at the high school, college and professional ranks use a regulation basketball that weighs 22.0 ounces with a standard deviation of 1.0 ounce. Assume that the weights of basketballs are approximately normally distributed.
If a regulation basketball is randomly selected, what is the probability that it will weigh between 20.5 and 23.5 ounces? Round to the nearest thousandth.

A) 0.704 

 B) 0.267 

C) 0.866 

 D) 0.134

14) Below is the standard deviation for extreme 10k finish times for a randomly
selected group of women and men. Chose the statement that best summarizes
the meaning of the standard deviation.
Women: s = 0.17              Men: s = 0.21

  A) On average, men’s finish times will be 0.21 hours faster than the overall average finish time.

B) The distribution of men’s finish times is less varied than the distribution of women’s finish times.

 C) The distribution of women’s finish times is less varied than the distribution of men’s finish times.

 D) On average, women’s finish times will be 0.17 hours less than men’s finish times.
15) A city planner says, “The typical commute to work for someone living in the city limits is less than the commute to work for someone living in the suburbs.” What does this statement mean?

A) The center of the distribution of commute times for a city-dweller is less than the center of the distribution for those living in the suburbs.

B) All city dwellers spend less time commuting to work than those living in the suburbs.

 
C) There is less variation in the commute time of those living in the suburbs.

 D) If you live in the city limits you will have a longer commute time.
16) Use the following information to answer the question. The mean age of lead actresses from the top ten grossing movies of 2010 was 29.6 years with a standard deviation of 6.35 years. Assume the distribution of the actresses’ ages is approximately unimodal and symmetric. 
In 2010, popular actress Jennifer Aniston was 41-years-old. What is Jennifer Aniston’s age if it is standardized? Would it be unusual for a 41-year-old actress to be in a top-grossing film of 2010? Assume the Empirical Rule applies and round to the nearest hundredth. 1

A) z = -1.80; It would be unusual.          

 B) z = 1.80; It would be unusual.

C) z = -1.80; It would not be unusual. 

 D) z = 1.80; It would not be unusual.
 
17) Use the following information to answer the question. The economic impact of an industry, such as sport fishing, can be measured by the retail sales it generates. In 2006, the economic impact of great lakes fishing in states bordering the great lakes had a mean of $318 and a standard deviation of $83.5. Note that all dollar amounts are in millions of dollars. Assume the distribution of retail sales is unimodal and symmetric. (Source: National Oceanic and Atmospheric Administration).
The economic impact of fishing for nearly all great lakes states should fall within what range (in millions of dollars)? 

A) $234.5 to $401.5 

B) $151 to $485 

C) $67.5 to $568.5 

D) $83.5 to $318
18) Which of the following statements is not true about probability? 

A) Probabilities are always numbers between 0 and 1 inclusive.

B) Probability is used to measure how often random events occur.

 C) A probability of zero means that an event will not happen, a probability of one means that an event is certain to happen.

D) All of these are true statements
19) Use the following information to answer the question. The economic impact of an industry, such as sport fishing, can be measured by the retail sales it generates. In 2006, the economic impact of great lakes fishing in states bordering the great lakes had a mean of $318 and a standard deviation of $83.5. Note that all dollar amounts are in millions of dollars. Assume the distribution of retail sales is unimodal and
symmetric. (Source: National Oceanic and Atmospheric Administration).
For what percentage of great lakes states would you expect the economic impact from fishing to be between $234.5 and $401.5 (in millions of dollars)?
Answer

 

A) 68% 

 C) Nearly all 

 D) None of these

 

A) z = 2.04; This is unusually expensive ground beef.

 B) z = -2.04; This is unusually inexpensive ground beef.

 C) z = 2.04; This price would not be unusual.

 B) 95% 

20) Suppose that Illinois lawmakers survey 130 randomly selected registered voters to see if they favor charging a deposit on aluminum cans to encourage recycling. The lawmakers believe the population proportion in favor of changing the law is 93% (based on historical data and previous votes). Which of the following conditions for the Central Limit theorem are not met?

 

A) Relative to the population, the sample is not large enough.

 B) The population proportion is too small and will not have enough expected failures.

C) The population proportion is too small and will not have enough expected successes.  

D) None of these, all the conditions of the CLT are met.

21) Suppose that in a recent poll of 1200 adults between the ages of 35 and 45, 38% surveyed said they have thought about getting elective plastic surgery. Find the 95% confidence interval for the proportion of adults ages 35 to 45 who have thought about getting elective plastic surgery then choose the correct interpretation. (Round to the nearest tenth of a percent) 

Answer

  A) The population proportion of adults ages 35 to 45 who have thought about getting elective plastic surgery is between 28.5% and 47.5%, with a confidence level of 95%.

 B) There is a 95% chance that the population of adults ages 35 to 45 who have thought about getting elective plastic surgery is between 35.2% and 40.7%.

 C) There is a 95% chance that the population of adults ages 35 to 45 who have thought about getting elective plastic surgery is between 28.5% and 47.5%.

 D) The population proportion of adults ages 35 to 45 who have thought about getting elective plastic surgery is between 35.2% and 40.7%, with a confidence level of 95%.

22) Use the following information to answer the question. The mean age of lead actresses from the top ten grossing movies of 2010 was 29.6 years with a standard deviation of 6.35 years. Assume the distribution of the actresses’ ages is approximately unimodal and symmetric.

Between what two values would you expect to find about 95% of the lead actresses ages? 

 D) None of these

A) 10.55 and 48.65 years 

 B) 23.25 and 35.95 years

 C) 16.9 and 42.3 years 

23) Use the following information to answer the question. The economic impact of an industry, such as sport fishing, can be measured by the retail sales it generates. In 2006, the economic impact of great lakes fishing in states bordering the great lakes had a mean of $318 and a standard deviation of $83.5. Note that all dollar amounts are in millions of dollars. Assume the distribution of retail sales is unimodal and symmetric. (Source: National Oceanic and Atmospheric Administration).

For what percentage of great lakes states would you expect the economic impact from fishing to be between $234.5 and $401.5 (in millions of dollars)?
Answer

 B) 95% 

  D) None of these

 
A) 68% 

  C) Nearly all 

Are you stuck with your online class?
Get help from our team of writers!