QUESTION 1
.
Using the binomial PMF, when p=.6 and n=8 what is P(X=7)?
(Answer to the third decimal place).
0.6 points 
QUESTION 2
.
The probability of a getting a new sales contract with any given
client is .44.  A sales representative works with 8 clients this week.
 What is the probability he will get exactly 3 contracts this week?
(Answer to the third decimal place.)
0.6 points 
QUESTION 3
.
The vice president of the fraud department has 21 employees that
report to her.  During a holiday period she must make work
assignments to ensure that someone is on call each day.  There are
five days that she must cover and she will assign no one to more
than one day.  How many different combinations of workers
assigned for the holiday week are possible?
0.5 points 
QUESTION 4
.
Using the Poisson PMF, when the mean is 6, what is P(X=9)?
(Answer to the third decimal place).0.7 points 
QUESTION 5
.
Suppose you have a product which you sell in two markets of
comparable size and you want to test the hypothesis that the
demand for the product is the same in the two markets.  In practice
you test that the quantity demanded is the same and find that for
sample of 17 different time periods with different prices the
average quantity demanded in the first market is 1765 and in the
second market it is 1688.  The standard deviation of the differences
is 60.5.  True or False: we reject the null hypothesis of equal means
for quantity demanded at the .05 level of significance.
True
False
0.6 points 
QUESTION 6
.
Consider the ANOVA table here.  How many observations were there
in this data set?
0.5 points  QUESTION 7
.
Consider the ANOVA table here.  What is MSTR?  Answer to two
decimal places.
0.5 points 
QUESTION 8
.
When the confidence coefficient is .6, alpha is
0.5 points 
QUESTION 9
.
When the confidence coefficient is .75, alpha is
0.5 points 
QUESTION 10
.
A 2009 sample of New York hotel room prices had an average of
$273.  Assume this was from a sample of 48 hotels with a sample
standard deviation of $72.  Construct a 99% confidence interval and
report the lower bound for the interval.  (Answer to one decimalplace and do not include a $ sign).
0.5 points 
QUESTION 11
.
For a sample of 54 discount brokers the average price of a $5,000
trade was $33.77.  Past surveys of this kind show a standard
deviation of $15 so we assume that is the known population
standard deviation.  Construct a 90% confidence interval and enter
the lower bound for the interval.  (Answer to one decimal place and
do not include a $ sign).
0.5 points 
QUESTION 12
.
You are going to test a hypothesis concerning the difference
between two population means.  One of the steps to do this is to
find the standard error.  Suppose you have two samples with 50
observations each and standard deviations of 73.1 and 66.6.  What
is the standard error?  Answer to two decimal places.
0.5 points 
QUESTION 13
.
You are going to test a hypothesis concerning the difference
between two population means.  One of the steps to do this is to
find the standard error.  Suppose you have two samples with 40
observations each and standard deviations of 74.3 and 106.5.  What
is the standard error?  Answer to two decimal places.0.5 points 
QUESTION 14
.
Suppose there are 3 numerator degrees of freedom and 15
denominator degrees of freedom.  What is the critical F value for a .
05 level of significance test?  Answer to two decimal places.
0.5 points 
QUESTION 15
.
Suppose there are 4 treatments and each one has 6 observations.
 You are using the data to conduct ANOVA.  What is the critical F
value for a .05 level of significance test?  Answer to two decimal
places.
0.5 points 
QUESTION 16
.
The distribution of a random variable X and the distribution of the
sample average of X are the same.
True
False
0.5 points  QUESTION 17
.
A joint probability table contains both joint and marginal
probabilities and can be used to calculate conditional probabilities.
True
False
0.5 points 
QUESTION 18
.
Below is a table constructed using a subset of data from an ECN221
class.  What is the probability that an observation in this data set is
from an accountancy major?  Answer to 3 decimal places.
0.5 points 
QUESTION 19
.
Below is a table constructed using a subset of data from an ECN221
class.  What is the probability that an observation in this data set is
from an “Other: business” major?  Answer to 3 decimal places.