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% |
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B) Nearly all |
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C) 68% |
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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
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 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
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?
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
A) 68% |
C) Nearly all |