George Mason University – School of Business
BUS 310 -003 Exam #1 Administered 03/05/2018, Covering Parts of Chapter 7, 8, 9
BUS 310 –003a Exam #1 Administered 03/05/2018
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GEORGE MASON UNIVERSITY
School of Business
BUS310-003, spring 2018
Exam #1 administered 03/05/2018
Student: ____
G Number: _________________________
Instructions: Complete the following exam questions. Total points = 100. Read all information and questions
carefully. Write your answer to each question on this paper. Please write clearly, difficulty in reading solutions may
impact your grade. Make sure that your name is on this exam. The purpose of this exam is to ensure that the class has
basic fundamental skills.
This in class exam is expected to take up to 2.5 hours, you are to complete it and return it for grading.
This is an open book or open note test. Books or notes can be used. Calculations may use any means necessary except
another person. Computers or calculators may be used if desired. You may not discuss or seek assistance from anyone.
You must not discuss the exam with anyone or use any past exam data from any source. Record all your work in the space
provided or show your work not performed on the computer. If you cannot answer the problem show your approach for
partial credit.
Clarity is important and will be graded, please be sure you write clearly and legibly or points may be deducted for
readability.
YOU MUST SIGN THE FOLLOWING TO RECEIVE CREDIT FOR THIS EXAM:
I understand and pledge to comply with George Mason University’s Honor Code. I promise not to discuss this exam with
ANY student outside of this class section or any other student who has not yet completed the exam.
Signature:
George Mason University – School of Business
BUS 310 -003 Exam #1 Administered 03/05/2018, Covering Parts of Chapter 7, 8, 9
Chapter 7 (32 Points)
Chapter 7 Calculation Scenario (32 points)
(Scenario for problem #1)
A battery manufacturer wants to estimate the average number of defective (or dead) batteries contained in a
box shipped by the company. Production personnel at this company have recorded the number of defective
batteries found in each of the 2000 boxes shipped in the past week.
1. (4 Points – 2 point each answer a & b)
(A) What sample size would be required for the production personnel to be approximately 95% sure that their
estimate of the average number of defective batteries per box is within 0.3 unit of the true mean? Assume that
the best estimate of the population standard deviation ( ) is 0.9 defective batteries per box.
𝑃(𝑥̅−μ<E)≥1−∝
P(𝑥̅−𝜇
𝜎/√𝑛<− 𝐸
𝜎/√𝑛)≤∝/2
n≥(𝑧∝/2 ∗𝜎
𝐸)2
n≥ (1.96∗0.9
