QMB 3200 EXAM 2 FSU BLISS WITH CORRECT SOLUTIONS
QMB 3200 EXAM 2 FSU BLISS WITH CORRECT SOLUTIONS
QMB 3200 EXAM 2 FSU BLISS WITH CORRECT SOLUTIONS
Suppose the average driving distance for last year's Masters Golf Tournament was 282.5 yards with a standard deviation of 12.2 yards. A rando...
Suppose the average driving distance for last year's Masters Golf Tournament was
282.5 yards with a standard deviation of 12.2 yards. A random sample of 30 drives was
selected from a total of 4,144 drives that were hit during this tournament. What is the
probability that the sample average was 279 yards or less?
0.0574
0.2676
0.1611
0.0581 - ANSWER-.0581
Recently, FHA mortgages, which are insured by the federal government, accounted for
28% of all home-purchase mortgages that were approved. A random sample of 150
mortgage applications was selected. What is the probability that 48 or more from this
sample were insured by the FHA?
0.1376
0.1915
0.2291
0.3974 - ANSWER-.1376
A key metric in the cell phone industry is average revenue per user (ARPU) which
represents the average dollar amount that a customer spends per store visit. Recently,
AT&T reported their ARPU was $67.81. Suppose the standard deviation for this
population is $18.45. What is the probability that the ARPU will be between $62 and $66
from a random sample of 35 customers?
0.3553
0.2496
0.4470
0.5619 - ANSWER-.2496
The sample means for a population that follows the normal distribution will also be
normally distributed, regardless of the size of the samples. - ANSWER-true
Photo Bomb is an online company that sells packaging materials for photographers.
Suppose their average order size is $208.19 with a standard deviation of $53.44. A
random sample of 35 customer orders has been selected. The standard error of the
mean for this sample is ________.
$5.11
$7.30
$9.03
$11.35 - ANSWER-9.03
, Suppose the Starbucks at Strozier Library averages 483 customers per day entering the
facility with a standard deviation of 112 customers. A random sample of 48 business
days was selected. What is the probability that the average number of customers in the
sample is between 480 and 500?
0.1579
0.4271
0.3377
0.2521 - ANSWER-.4271
With the increased demand for Internet access, airlines have been investing in
expanding service on their flights. Recently, 79% of Delta Air Lines' planes were
equipped with Wi-Fi. Delta has a total of 727 planes (finite population) and a random
sample of 200 planes from Delta's fleet was selected. What is the probability that 164 or
fewer planes from this sample were equipped with Wi-Fi?
0.6255
0.7324
0.8512
0.8893 - ANSWER-.8893
An Epson inkjet printer ad advertises that the black ink cartridge will provide enough ink
for an average of 245 pages. Assume that this claim is accurate and that the standard
deviation for this population is 15 pages. A random sample of 33 customers was
surveyed about the number of pages they were able to print with their black ink
cartridges. What the probability that the sample mean will be 246 pages or more?
0.6491
0.8729
0.3509
0.1093 - ANSWER-.3509
The Central Limit Theorem requires
a sample size of at least 30 be used to ensure that the samples means are normally
distributed.
the population be normally distributed to ensure that the samples means are normally
distributed.
the bootstrap method to be used to select the sample.
the resampling technique to be used to select the sample. - ANSWER-a sample size of
at least 30 be used to ensure that the samples means are normally distributed.
As the size of the sample increases, the ________________________________.
standard error of the mean becomes smaller
population standard deviation increases
sampling error increases
shape of the sampling distribution becomes wider - ANSWER-standard error of the
mean becomes smaller
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