QNT561 QNT/561 Week 1 Practice Quiz - 22969

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Since every time you access the quiz the numbers may change; try to exit and come back until you get the same version. Otherwise, message me and I can help with particular problem. 

 

 

 

 

Grade on Business Statistics Exam

Frequency Relative Frequency
A: 90-100 0.07
B: 80-89 50
C: 65-79 76
D: 50-64 32
F: Below 50 28
Total 200 1

Question 1: Complete the table to the right:

Question 2:

 

An industrial group reports that there were approximately 152,000 industrial robots operating in a region over the last year. The graph to the right shows the percentages of industrial robots assigned to each of six task categories. Complete parts a through e. Dispensing/Coating-33%; Assembly-21%; Arc Welding-6%; Spot welding-3%; Material removal-36%; Material Handling -1%.

Question 3:

 

Use the data table to complete parts a through c:

 

 

Interview 27; Observation and Participation 30; Observation only 17,  Grounded Theory 13, Total 87.

 Question 4.

 

 

Certain measurements are summarized in the histogram to the right. What percentage of the measurements are greater than 12?

Question 5.

 

Explain how the relationship between the mean and median provides information about the symmetry or skewness  of the data’s distribution.

Question 6.

Five banks have been ranked by the amount charged to credit and debit cards issued by the banks.

Bank A  456.31 billions

Bank B  462.23 billions

Bank C  436.54 billions

Bank D  236.43 billions

 

Bank E  193.15 billions

Question 7.

Oil field pipes are internally coated in order to prevent corrosion.  Researchers investigated the influence that coating may have on the surface roughness of oil field pipes. A scanning probe instrument was used to measure the surface roughness of each in a sample of 20 sections of coated interior pipe.  The data in micrometers are below:

 

1.68; 1.98; 1.93; 2.94; 2.18; 2.36; 2.52; 1.07; 2.76; 2.99; 1.86; 1.32; 2.69; 1.64; 1.25; 2.74; 1.76; 2.86; 2.12; 1.17.

Question 8.

 

 

The salaries of superstar professional athletes receive much attention in the media. The multimillion dollar long-term contract is now commonplace among this elite group.

Question 9.

 

 

A magazine published a study on the ammonia levels near the exit ramp of a highway tunnel. Daily ammonia concentrations on eight random days: 1.54; 1.51; 1.38; 1.52; 1.63; 1.44; 1.43; 1.45.

Question 10.

 

The data on age in years and title of 12 of the most powerful women in country A:

 

Rank        Age

 

1                      50

 

2                      52

 

3                      41

 

4                      43

 

5                      53

 

6                      57

 

7                      51

 

8                      47

 

9                      52

 

10                   42

 

11                   53

 

 

12                   37

Data on annual rainfall, maximum daily temperature, percentage of plant cover, and number of ant species recorded at each of 11study sites are given in the table. Complete parts a through c.

 

Site

Annual rainfall (mm)

Max. daily temp. (°C)

Total plant cover (%)

Number of ant species

1

196

5.7

40

3

2

196

5.7

53

3

3

173

7.0

40

53

4

197

7.7

43

7

5

149

8.5

27

5

6

111

10.7

30

45

7

125

11.4

18

5

8

99

10.4

30

4

9

125

11.4

56

4

10

85

11.4

21

5

11

115

11.4

14

4

 Question 12.

 

 

Determine whether a random variable is discrete or continuous:

 

a.       The number of points scored during a basketball game 

 

b.      The height of a randomly selected giraffe

 

c.       The time it takes for a light bulb to burn out

 

d.      The exact time it takes to evaluate 27+72 

 

e.      The number of light bulbs that burn out in the next week in a room with 14 bulbs.

Question 13.

 

 

A discrete random variable x can assume 5 possible values 2, 3, 6, 8, and 10. Its probability distribution is shown here. Complete parts a through c.

 

x

p(x)

2

0.15

3

0.11

6

-

8

0.25

10

0.23

Question 14.

 

In a driver-side “star” scoring system for crash-testing new cars, each crash-tested car is given a rating ranging from one star to five stars; the better is the level of crash protection in a head-on collision. A summary of the driver-side star ratings for 98 cars is reproduced in the table:

 

Rating

Count

Percent

2

7

7.14

3

14

14.29

4

56

57.14

5

21

21.43

N=

98

 

Question 15.

 

If x is binomial random variable, compute p(x) for each of the cases below.

a.       N=4, x=2, p=0.7; a.       N=6, x=3, q=0.6;       N=5, x=1, p=0.4;      N=4, x=0, p=0.4;       N=6, x=3, q=0.4;   N=5, x=2, p=0.3.

 

Question 16. According to a consumer survey of young adults (18-24 years of age)who shop online, 18% own a mobile phone with internet access. In a random sample of 400 young adults who shop online , let x be the number who own a mobile phone with internet access.

 

 

 

 

 

Question 17.

 

Find a value of a standard normal random variable Z, call it Zo,  such that the following probabilities are satisfied (< and

a.       P(Z <Zo)=0.6704;    P(-Zo<Z<Zo)=0.8662;  P(-Zo<Z<0)=0.4522;      P(-2<Z<Zo)=0.6109.

 

Question 18.

Financial analysts who make forecasts of stock prices are categorized as either “buy-side” or “sell-side” analysts. Assume the distribution of forecast errors are approximately normally distributed.

 

 

 

Buy-Side Analysts

Sell-Side Analysts

Mean

0.82

-0.09

Standard Deviation

1.96

0.82

 

 

 

 

 

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The salaries of superstar professional ath

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