QNT561 QNT/561 Week 2 Problem Set - 23179

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Question 1: 

 

Grade on Business Statistics Exam

Frequency

Relative Frequency

A: 90-100

0.07

B: 80-89

51

C: 65-79

135

D: 50-64

54

F: Below 50

39

Total

300

1

Question 2:

 

An industrial group reports that there were approximately 160,000 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-38%; Assembly-4%; Arc Welding-19%; Spot welding-1%; Material removal-8%; Material Handling -2%.

 Question 3:

 

 

Use the data table to complete parts a through c:

 

Interview 27; Observation and Participation 28; Observation only 14,  Grounded Theory 21, Total 90.

Question 4.

The industry type of a CEO company (for example, baking and retailing) was recorded for 40 CEO’s with the highest efficiency (pay-per-performance) ratings.  Use a graphical method to describe the frequency of occurrence  of the industry types.

 

 

Choose the correct graph below.

Question 5.

 

Consider the stem-and –leaf display to the right:  Stem 3, Leaf 066; Stem 2, Leaf 6668; Stem 1, Leaf 2448; Stem 0, Leaf 067.

Question 6.

 

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

Question 7.

 

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

Question 8.

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

Bank/Card Issuer

Amount Charged ($ billions)

Bank A

468.26

Bank B

460.57

Bank C

454.27

Bank D

235.17

Bank E

184.71

 

 Question 9.

 

 

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:

 

1.83

1.72

2.49

2.55

2.99

1.15

2.03

1.17

1.56

2.43

1.12

2.61

2.16

1.36

2.77

1.13

1.45

2.49

2.05

1.52

Question 10.

 

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 11.

 

 

Answer the questions about variability of data set.

Question 12.

A magazine published a study on the ammonia levels near the exit ramp of a highway tunnel. Daily ammonia concentrations on eight random days:

 

1.55

1.52

1.37

1.53

1.59

1.41

1.40

1.47

Question 13.

 

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

 

Rank

Age

Title

1

51

CEO/chairman

2

47

CEO/chairman

3

49

CEO/president

4

45

Chairman

5

52

CEO/chairman

6

57

President

7

53

President

8

50

Chairman

9

49

Treasurer

10

38

CEO/president

11

54

Chairman

12

37

President

Question 14.

 

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.

Question 15.

 

Determine whether a random variable is discrete or continuous:

Question 16.

 

Let x be the time required to download a file from the internet.

Question 17.

 

The random variable x has the following discrete probability distribution.

 

x

p(x)

2

0.2

4

0.1

6

0.3

7

0.2

9

0.2

Question 18.

 

A discrete random variable x can assume 5 possible values 1,3,5,7, and 10. Its probability distribution is shown here. Complete parts a through c.

 

x

p(x)

1

0.14

3

0.11

5

-

7

0.25

10

0.27

Question 19.

 

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

5

5.10

3

16

16.33

4

59

60.20

5

18

18.37

N=

98

 

Question 20.

 

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

 

a.       N=5, x=3, p=0.3

 

 

 

b.      N=4, x=2, q=0.4

 

 

 

c.       N=3, x=0, p=0.7

 

 

 

d.      N=5, x=1, p=0.2

 

 

 

e.      N=4, x=2, q=0.6

 

 

 

f.        N=3, x=3, p=0.9

Question 21.

 

According to a consumer survey of young adults (18-24 years of age)who shop online, 26% own a mobile phone with internet access. In a random sample of 500 young adults who shop online , let x be the number who own a mobile phone with internet access.

Question 22.

 

A national standard requires that public bridges over 20 feet in length must be inspected and rated every 2 years. The rating scale ranges from 0-9. For the year 2020, the engineers forecast that 6% of all major bridges in that city will have ratings of 4 or below.

Question 23.

Find the following probabilities for the standard normal random variable z.

a.       P(z>1.45)

b.      P(z<-1.76)

c.       P(0.53

P(-2.46<z<1.67)

Question 24.

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)=0.6690

 

b.      P(-Zo<Z<Zo)=0.8042

 

c.       P(-Zo<Z<0)=0.4571

 

d.      P(-3<Z<Zo)=0.5992

Question 25.

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

0.85

-0.04

Standard Deviation

1.93

0.85

Question 26.

 

The mean gas mileage for a hybrid car is 56 miles per gallon. Gasoline mileage is normally distributed with a standard deviation is 3.2 miles per gallon. 

 

 

 

 

Solution Description

Question 10.

The salaries of superstar professional athletes receive much attention in

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