Probability and Statistics for Business and Economics

27 questions.

Please read the questions and answer correctly.

I have attached The Excel files separately (Bonus).

Question 1 2 pts

Q1.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the population mean for the annual bonus?

 

Flag question: Question 2

Question 2 2 pts

Q2.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the point estimate, to the nearest whole number, of the population mean for the annual bonus?

 

Flag question: Question 3

Question 3 2 pts

Q3.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the population standard deviation for the annual bonus?

 

Flag question: Question 4

Question 4 2 pts

Q4.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the point estimate, to the nearest whole number, of the population standard deviation for the annual bonus?

 

Flag question: Question 5

Question 5 2 pts

Q5.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the population proportion, to two decimal places, of the employees with graduate degrees?

 

Flag question: Question 6

Question 6 2 pts

Q6.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the point estimate of the population proportion, to two decimal places, of the employees with graduate degrees?

 

Flag question: Question 7

Question 72 pts

Q7.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the population proportion, to two decimal places, of the employees without graduate degrees?

 

Flag question: Question 8

Question 82 pts

Q8.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the point estimate of the population proportion, to two decimal places, of the employees without graduate degrees?

 

Flag question: Question 9

Question 92 pts

Q9.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the population proportion, to two decimal places, of the employees who feel disappointed with their bonus?

 

Flag question: Question 10

Question 102 pts

Q10.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the point estimate of the population proportion, to two decimal places, of the employees who feel disappointed with their bonus?

 

Flag question: Question 11

Question 112 pts

Q11.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the population proportion, to two decimal places, of the employees who feel very satisfied with their bonus?

 

Flag question: Question 12

Question 122 pts

Q12.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the point estimate of the population proportion, to two decimal places, of the employees who feel very satisfied with their bonus?

 

Flag question: Question 13

Question 132 pts

Q13.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the expected value of x-bar for the bonus?

 

Flag question: Question 14

Question 142 pts

Q14.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the calculated finite population correction factor, to two decimal places, for the bonus?

 

Flag question: Question 15

Question 152 pts

Q15.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  Given the data and the sample, what value should be used for the finite population correction factor, for the bonus?

 

Flag question: Question 16

Question 162 pts

Q16.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  If multiple similar random samples are taken, what is the value of the standard error of the mean of the bonus, to two decimal places?

 

Flag question: Question 17

Question 172 pts

Q17.   Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the probability, to two decimal places, that the sample mean of the bonus computed from a random sample of 50 employees, will be within $100 of the population mean of the bonus?

 

Flag question: Question 18

Question 182 pts

Q18.   Open the data file Bonus.  The file includes data on all the employees in an organization.  What is the probability, to two decimal places, that the sample mean of the bonus computed from a random sample of  30  employees, will be within $100 of the population mean of the bonus?

 

Flag question: Question 19

Question 192 pts

Q19.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the expected value of p-bar, for the proportion of employees who are satisfied with their bonus, to two decimal places?

 

Flag question: Question 20

Question 202 pts

Q20.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  If multiple similar random samples are taken, what is the value of the standard error of the proportion of the employees who are satisfied with their bonus, to two decimal places?

 

Flag question: Question 21

Question 212 pts

Q21.  Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  If multiple similar random samples are taken, the sampling distribution of p-bar, the proportion of the employees who are satisfied with their bonus, can be approximated by a normal distribution.

Group of answer choices

True

False

 

Flag question: Question 22

Question 222 pts

Q22.   Open the data file Bonus.  The file includes data on all the employees in an organization.  Create a random sample consisting of the 50 employees with the 50 lowest random numbers.  What is the probability, to two decimal places, that a random sample of 50 employees, will have a sample proportion of 0.30 or less of employees who are satisfied with their bonus?

 

Flag question: Question 23

Question 232 pts

Q23.   Open the data file Bonus.  The file includes data on all the employees in an organization.  What is the probability, to two decimal places, that a random sample of  30  employees, will have a sample proportion of more than 0.30 of employees who are satisfied with their bonus?

 

Flag question: Question 24

Question 242 pts

Q24.   Open the data file Bonus.  The file includes data on all the employees in an organization.  What is the probability, to two decimal places, that a random sample of 40 employees, will have a sample proportion of more than 0.37 of employees who are disappointed with their bonus?

 

Flag question: Question 25

Question 252 pts

Q25.   Open the data file Bonus.  The file includes data on all the employees in an organization.  What is the probability, to two decimal places, that a random sample of 40 employees, will have a sample proportion of more than 0.32 but less than 0.36 of employees who are disappointed with their bonus?

 

Flag question: Question 26

Question 262 pts

Q26.   Open the data file Bonus.  The file includes data on all the employees in an organization.  What is the probability, to two decimal places, that a random sample of 40 employees, will have a sample proportion of more than 0.33 of employees who are very satisfied with their bonus?

 

Flag question: Question 27

Question 272 pts

Q27.   Open the data file Bonus.  The file includes data on all the employees in an organization.  What is the probability, to two decimal places, that a random sample of 40 employees, will have a sample proportion of more than 0.27 and less than 0.35 of employees who are very satisfied with their bonus?