| Question 1. |
| There are 800 students in the School of Business Administration. There are four majors in the School: Accounting, Finance, Management, and Marketing. The following shows the number of students in each major. |
| | Major | Number of Students | Relative Frequency | Raw Cumulative Frequence | | | Bar Chart: | | | | | | | | | Pie Chart: |
| | Accounting | 240 |
| | Finance | 160 |
| | Management | 320 |
| | Marketing | 80 |
| | Total: | 800 |
| Develop a raw and percent frequency distribution and construct a bar chart for raw frequency and a pie chart for percent frequency. |
| Question 2. |
| A sample of twenty six families was taken. The data below represents the debt of each family (in US dollars). |
| | | | | | 122,231 | 125,409 | 59,025 | 116,128 | 60,370 | 69,402 | 142,762 | 131,934 | 107,320 | 68,140 | 52,055 | 72,140 | 98,786 |
| | | | | | 72,576 | 148,782 | 79,649 | 94,513 | 131,176 | 58,458 | 57,380 | 110,354 | 97,544 | 59,423 | 78,927 | 124,831 | 53,880 |
| Using this data set, compute the |
| | | Formula | Answer | | Box-Whisker Plot: |
| a. | mode |
| b. | median |
| c. | mean |
| d. | range | =MAX(D18:P19)-MIN(D18:P19) | 96,727 | (Example) |
| e. | interquartile range |
| f. | variance |
| g. | standard deviation |
| h. | coefficient of variation |
| i. | create a box-whisker plot for the data |
| Question 3. |
| The student body of a large university consists of 60% female students. A random sample of 200 students is selected. What is the probability that half of them (i.e. exactly 100) are females? |
| | | Formula | Answer |
| Question 4. |
| The time it takes a worker on an assembly line to complete a task is exponentially distributed with a mean of 50 minutes. What is the probability that he will complete it within 4 minutes 47 second? |
| | | Formula | Answer |
| Question 5. |
| The monthly earnings of computer systems analysts are normally distributed with a mean of $104,312 and standard deviation of $6,141. What is the probability that a randomly chosen computer system analyst will earn more than $111,197? |
| | | Formula | Answer |
| Question 6. |
| Consider a population of five weights identical in appearance but weighing 1, 3, 5, 7, and 9 ounces. Sampling without replacement from the above population with a sample size of 2 produces ten possible samples. |
| Using the ten sample mean values, determine the expected value of the sampling distribution of the mean and the standard error of the mean. |
| | | | | | Formula | Answer |
| | Samples |
| 1 |
| 2 |
| 3 |
| 4 |
| 5 |
| 6 |
| 7 |
| 8 |
| 9 |
| 10 |
| Question 7. |
| Consider the samples below. Test the following hypothesis at 5% level of significance and find the associated p-value with the test statistic. |
| | μ1 - μ2 = 0 |
| | μ1 - μ2 ≠ 0 |
| | | | Formula | Answer (p-value) |
| Sample 1 | Sample 2 |
| 725 | 253 |
| 892 | 665 |
| 680 | 95 |
| 127 | 725 |
| 159 | 541 |
| 480 | 522 |
| 579 | 384 |
| 774 | 670 |
| 780 | 62 |
| 517 | 328 |
| 662 | 277 |
| 288 | 492 |
| 986 | 312 |
| 706 | 80 |
| 608 | 12 |
| 867 | 14 |
| 36 | 747 |
| 68 | 976 |
| 735 | 487 |
| 577 | 30 |
| 719 | 41 |
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