Business Stats Chapter 7 test bank Latest Update 2024/2025
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Business Stats Chapter 7
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Business Stats Chapter 7
Business Stats Chapter 7 test bank Latest
Update 2024/2025Business Stats Chapter 7 test bank Latest
Update 2024/2025Business Stats Chapter 7 test bank Latest
Update 2024/2025Business Stats Chapter 7 test bank Latest
Update 2024/2025Business Stats Chapter 7 test bank Latest
Update 2024/2025
Business Stats Chapter 7 test bank Latest
Update 2024/2025
A binomial distribution has 100 trials (n = 100) with a probability of success of 0.25 (π = 0.25). To apply
the normal distribution to approximate the binomial, what are the mean and standard deviation? -
ANSWER-µ = 25 and σ = 4.33
A binomial distribution has 100 trials (n = 100) with a probability of success of 0.25 (π = 0.25). We would
like to find the probability of 34 or more successes using the normal distribution to approximate the
binomial. Applying the continuity correction factor, what z-score should be used? - ANSWER-1.963
A binomial distribution has 100 trials (n = 100) with a probability of success of 0.25 (π = 0.25). We would
like to find the probability of 75 or more successes using the normal distribution to approximate the
binomial. Applying the continuity correction factor, what value would be used to calculate a z-score? -
ANSWER-74.5
A binomial distribution has 50 trials (n = 50) with a probability of success of 0.50 (π = 0.50). To use the
normal distribution to approximate the binomial, what are the mean and standard deviation? -
ANSWER-µ = 25 and σ = 3.5355
A binomial distribution has 50 trials (n = 50) with a probability of success of 0.50 (π = 0.50). We would
like to find the probability of 34 or more successes using the normal distribution to approximate the
binomial. Applying the continuity correction factor, what z-score should be used? - ANSWER-2.404
A cola-dispensing machine is set to dispense a mean of 2.02 liters into a container labeled 2 liters. Actual
quantities dispensed vary and the amounts are normally distributed with a standard deviation of 0.015
liters. What is the probability a container will have less than 2 liters? - ANSWER-0.0918
A college professor noted that the grades of his students in an introductory statistics class were
normally distributed with a mean of 76.5 and a standard deviation of 9. If 67.36% of his students
received grades of C or above, what is the minimum score of those students receiving a grade of at least
a C? - ANSWER-72.45
A large manufacturing firm tests job applicants. Test scores are normally distributed with a mean of 500
and a standard deviation of 50. Management is considering placing a new hire in an upper-level
management position if the person scores in the upper sixth percent of the distribution. What is the
lowest score a new hire must earn to qualify for a responsible position? - ANSWER-578
A national manufacturer of unattached garages discovered that the distribution of the time for two
construction workers to erect the Red Barn model is normally distributed with a mean of 32 hours and a
standard deviation of 2 hours. What percent of the garages take between 32 and 34 hours to erect? -
ANSWER-34.13%
A new extended-life light bulb has an average life of 750 hours, with a standard deviation of 50 hours. If
the life of these light bulbs approximates a normal distribution, about what percent of the distribution
will be between 600 hours and 900 hours? - ANSWER-99.47%
A normally distributed random variable has _________. - ANSWER-Any value between -∞ and + ∞.
, Business Stats Chapter 7 test bank Latest
Update 2024/2025
A study of a company's practice regarding the payment of invoices revealed that an invoice was paid an
average of 20 days after it was received. The standard deviation equaled five days. Assuming that the
distribution is normal, what percent of the invoices were paid within 15 days of receipt? - ANSWER-
15.87%
An accelerated life test on a large number of type-D alkaline batteries revealed that the mean life for a
particular use before they failed is 19.0 hours. The distribution of the lives approximated a normal
distribution. The standard deviation of the distribution was 1.2 hours. About 95.44% of the batteries
failed between what two values? - ANSWER-16.6 and 21.4
An analysis of the grades on the first test in History 101 revealed that they approximate a normal curve
with a mean of 75 and a standard deviation of 8. The instructor wants to award the grade of A to the
upper 10% of the test grades. To the nearest percent, what is the dividing point between an A and a B
grade? - ANSWER-85
Ball-Bearings, Inc. produces ball bearings automatically on a Kronar BBX machine. For one of the ball
bearings, the mean diameter is set at 20.00 mm (millimeters). The standard deviation of the production
over a long period of time was computed to be 0.150 mm. What percent of the ball bearings will have
diameters of 20.27 mm or more? - ANSWER-3.59%
Consider a continuous random variable x, which is uniformly distributed between 65 and 85. The
probability of x taking on a value between 75 to 90 is ________. - ANSWER-0.50
Consider a standard normal random variable z. What is the value of z if the area to the right of z is
0.2643? - ANSWER-0.63
Customers of the Key Refining Company charge an average of $70 per month. The distribution of
amounts charged is approximately normal, with a standard deviation of $10. What is the probability of
selecting a credit card customer at random and finding the customer charged between $70 and $83? -
ANSWER-0.4032
For a normal distribution, what is the likelihood (expressed as a percentage) that a random variable is
within plus and minus two standard deviations of the mean? - ANSWER-95.44%
For a standard normal distribution, what is the probability that z is greater than 1.75? - ANSWER-0.0401
For the normal distribution, the mean plus and minus two standard deviations will include about what
percent of the observations? - ANSWER-95%
If an average of 12 customers are served per hour, then one customer arrives every ________. -
ANSWER-5 minutes
If an average of 12 customers is served per hour, what is the probability that the next customer will
arrive in 3 minutes or less? - ANSWER-0.45
If an average of 12 customers is served per hour, what is the probability that the next customer will
arrive in 6 minutes or less? - ANSWER-0.70
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