We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

See Pricing

What's Your Topic?

Hire a Professional Writer Now

The input space is limited by 250 symbols

What's Your Deadline?

Choose 3 Hours or More.
Back
2/4 steps

How Many Pages?

Back
3/4 steps

Sign Up and See Pricing

"You must agree to out terms of services and privacy policy"
Back
Get Offer

Statistical Analysis for Managers

Hire a Professional Writer Now

The input space is limited by 250 symbols

Deadline:2 days left
"You must agree to out terms of services and privacy policy"
Write my paper

Problems Chapter 7 1. A population of 1,000 students spends an average of \$10. 50 a day on dinner. The standard deviation of the expenditure is \$3. A simple random sample of 64 students is taken. a. What are the expected value, standard deviation, and shape of the sampling distribution of the sample mean? b. What is the probability that these 64 students will spend a combined total of more than \$715. 21? c. What is the probability that these 64 students will spend a combined total between \$703. 59 and \$728. 45?

ANS: a. 10. 5 0. 363 normal b.

Don't use plagiarized sources. Get Your Custom Essay on
Statistical Analysis for Managers
Just from \$13,9/Page

0. 0314 c. 0. 0794 2. The life expectancy in the United States is 75 with a standard deviation of 7 years. A random sample of 49 individuals is selected. a. What is the probability that the sample mean will be larger than 77 years? b. What is the probability that the sample mean will be less than 72. 7 years? c. What is the probability that the sample mean will be between 73. 5 and 76 years? d. What is the probability that the sample mean will be between 72 and 74 years? e.

What is the probability that the sample mean will be larger than 73. 46 years? ANS: a. 0. 0228 b. 0. 0107 c. 0. 7745 d. 0. 1573 e. 0. 9389 3. A simple random sample of 8 employees of a corporation provided the following information. Employee12345678 Age2532264050542223 GenderMMMMFMMF a. Determine the point estimate for the average age of all employees. b. What is the point estimate for the standard deviation of the population? c. Determine a point estimate for the proportion of all employees who are female. ANS: a. 34 b. 12. 57 c. 0. 25 . MNM Corporation gives each of its employees an aptitude test. The scores on the test are normally distributed with a mean of 75 and a standard deviation of 15. A simple random sample of 25 is taken from a population of 500. a. What are the expected value, the standard deviation, and the shape of the sampling distribution of ? b. What is the probability that the average aptitude test in the sample will be between 70. 14 and 82. 14? c. What is the probability that the average aptitude test in the sample will be greater than 82. 68? d.

What is the probability that the average aptitude test in the sample will be less than 78. 69? e. Find a value, C, such that P( C) = . 015. ANS: a. 75; 3; normal b. 0. 9387 c. 0. 0052 d. 0. 8907 e. 81. 51 5. Students of a large university spend an average of \$5 a day on lunch. The standard deviation of the expenditure is \$3. A simple random sample of 36 students is taken. a. What are the expected value, standard deviation, and shape of the sampling distribution of the sample mean? b. What is the probability that the sample mean will be at least \$4? . What is the probability that the sample mean will be at least \$5. 90? ANS: a. 5. 0; 0. 5; normal b. 0. 9772 c. 0. 0359 6. The average weekly earnings of bus drivers in a city are \$950 (that is ? ) with a standard deviation of \$45 (that is ? ). Assume that we select a random sample of 81 bus drivers. a. Compute the standard error of the mean. b. What is the probability that the sample mean will be greater than \$960? c. If the population of bus drivers consisted of 400 drivers, what would be the standard error of the mean? ANS: a. 5 b. 0. 0228 c. 4. 47

Cite this Statistical Analysis for Managers

Statistical Analysis for Managers. (2018, Aug 04). Retrieved from https://graduateway.com/statistical-analysis-for-managers/

Show less
• Use multiple resourses when assembling your essay
• Get help form professional writers when not sure you can do it yourself
• Use Plagiarism Checker to double check your essay
• Do not copy and paste free to download essays
Get plagiarism free essay

Search for essay samples now

Haven't found the Essay You Want?

Get my paper now

For Only \$13.90/page