Business Question Answer

1. (TCO 9) The annual Salary of an electrical engineer is given in terms of the years of experience by the table below.  Find the equation of linear regression for the above data and obtain the expected salary for an engineer with 15 years of experience. Round to the nearest $100. (Points: 6)        63,500        64,000        63,000        65,200       2. (TCO 5) A company produces window frames. Based on a statistical analysis, we found that 15% of their product is defective. They have shipped 10 windows to one of their customers. The customer is worried about the probability of having defective frames.  Choose the best answer of the following: (Points: 6)        This is an example of a Poisson probability experiment        This is an example of a Binomial probability experiment        This is neither a Poisson nor a Binomial probability experiment        Not enough information to determine the type of experiment 3. (TCO 5) A test is composed of six multiple choice questions where each question has 4 choices. If the answer choices for each question are equally likely, find the probability of answering more than 4 questions correctly. (Points: 6)        0.004639        0.004395        0.000244        0.995361 4. (TCO 5) It has been recorded that the average number of errors in a newspaper is 4 mistakes per page. What is the probability of having 1 or 2 errors per page? (Points: 6)        0.073263        0.146525        0.219788        0.439576 5. (TCO 2) The mean height of the players on a high school basketball team is 68 inches.  What does this tell you about the typical height of a player on this team? (Points: 6)        Half the players are taller than 68 inches while half are shorter        The average height of the players on the team is 68 inches        More players are 68 inches tall than any other height.        The height of all the players is not very consistent because 68 is such a large number 6. (TCO 6) Using the standard normal distribution, find the probability that z is less than -1.78 (Points: 6)        0.0375        0.9625        0.9319        0.0384 7. (TCO 8) The mean age of school bus drivers in Denver is claimed to be 56.9 years.  A hypothesis test is performed at a level of significance of 0.01 with a P-value of 0.09.  Choose the best interpretation of the hypothesis test. (Points: 6)        Reject the null hypothesis; there is enough evidence to reject the claim that the mean age of bus drivers in Denver is 56.9 years.        Reject the null hypothesis; there is enough evidence to support the claim that the mean age of bus drivers in Denver is 56.9 years.        Fail to reject the null hypothesis; there is not enough evidence to reject the claim that the mean age of bus drivers in Denver is 56.9 years.        Fail to reject the null hypothesis; there not is enough evidence to support the claim that the mean age of bus drivers in Denver is 56.9 years.             8. (TCO 8) A poll of U.S. health professionals revealed 82% would choose the same career.   In a hypothesis test conducted at a level of significance of 5%, a P-value of 0.023 was obtained.  Choose the best interpretation of the hypothesis test. (Points: 6)        Fail to reject the null hypothesis; there is not enough evidence to reject the claim that 82% of health professionals would choose the same career.        Fail to reject the null hypothesis; there is not enough evidence to support the claim that 82% of health professionals would choose the same career.        Reject the null hypothesis; there is enough evidence to reject the claim that 82% of health professionals would choose the same career.        Reject the null hypothesis; there is enough evidence to support the claim that 82% of health professionals would choose the same career. 9. (TCO 2) You are a landscape architect and must decide between two vendors for tulip bulbs.  Vendor A’s bulbs have a mean height of 30 inches with a standard deviation of 1.26 inches.  Vendor B’s bulbs also have a mean height of 30 inches, but with a standard deviation of 2.55 inches.  You want the bulbs that produce the most uniform growth, which vendor will you purchase from? (Points: 6)        Vendor A because you will more likely get tulips that are close to the same height        Vendor B because you will more likely get tulips that are close to the same height        Either one because both produce bulbs whose tulips have the same average height        Neither one because a mean height of 30 inches is too short for a tulip 10. (TCO 4) A travel agency offers 4 different vacation packages to Europe.  Their net profit for package 1 is $500, for package 2 it is $750, for package 3 it is $900, and for package 4 it is $1,500.  From past experience they know that 20% of their customers purchase package 1, 15% of their customers purchase package 2, 40% of their customers purchase package 3 and 25% of their customers purchase package 4.  Find the expected value or average profit per customer and determine how much profit they should expect if 10 people purchase one of their European vacation packages. (Points: 6)        Expected profit from 10 customers =  $3,650        Expected profit from 10 customers =  $9,475        Expected profit from 10 customers =  $9,125        Expected profit from 10 customers =  $6,250

11. (TCO 3)  The  ages of 25 employees in a company are listed below in a stem and leaf plot. What is the probability that a worker chosen at random will have an age greater than or equal to 30 and less than or equal to 39? (Points: 6)        0.89        0.32        0.36        -0.75 12. (TCO 1) An economist is interested in studying the incomes of consumers in a particular region.  The economist needs to know how large a sample should be taken so that a 90% confidence interval for their mean income with an error of $500 can be constructed.  If the population standard deviation is known to be $8,000 what sample size would the economist need to use? (Points: 6)        Sample Size = 693        Sample Size = 984        Sample Size = 112        Sample Size = 576     13. (TCO 6) Scores on an assessment exam at a private school are normally distributed, with a mean of 75 and a standard deviation of 11. Any student who scores in the top 7% is eligible for a scholarship. What is the lowest whole number score you can earn and still be eligible for a scholarship? (Points: 6)        85        92        90        93 14. (TCO 5) A shipment of 40 computers contains five that are defective. How many ways can a small business buy three of these computers and receive no defective ones? (Points: 6)        6545        658008        9880        105 15. (TCO 6) The time required to make 900 gallons of synthetic rubber at a plant in South America in a recent year was normally distributed with a mean of 15 hours and a standard deviation of 2.5 hours. What is the probability that it will take more than 17 hours to make 900 gallons of synthetic rubber? (Points: 6)        0.800        0.7881        0.2119        0.1151 16. (TCO 10) The annual rice yield (in pounds), is given by the equation  y-hat = 859 + 5.76a + 3.82b, where ‘a’ is the number of acres planted (in thousands), and ‘b’ is the number of acres harvested (in thousands). Predict the annual rice yield (in pounds) when the number of acres planted is 2550 (in thousands) and the number of acres harvested is 2245 (in thousands). (Points: 6)        868.58        24122.9        23531.2        4495 17. (TCO 9) The estimated value for the correlation coefficient for this graph might be   (Points: 6)        -0.93        0.50        0.93        -0.50