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TABLE 16-15
Given below are the average prices for three types of energy products for five
consecutive years.
Referring to Table 16-15, what are the simple price indices for electricity, natural gas
and fuel oil, respectively, in year 2 using year 5 as the base year?
TABLE 6-6
According to Investment Digest, the arithmetic mean of the annual return for common
stocks over an 85-year period was 9.5%, but the value of the variance was not
mentioned. Also 25% of the annual returns were below 8%, while 65% of the annual
returns were between 8% and 11.5%. The article claimed that the distribution of annual
return for common stocks was bell-shaped and approximately symmetric. Assume that
this distribution is normal with the mean given above. Answer the following questions
without the help of a calculator, statistical software or statistical table.
Referring to Table 6-6, find the two values that will bound the middle 50% of the
annual returns.
TABLE 11-8
An important factor in selecting database software is the time required for a user to
learn how to use the system. To evaluate three potential brands (A, B and C) of database
software, a company designed a test involving five different employees. To reduce
variability due to differences among employees, each of the five employees is trained
on each of the three different brands. The amount of time (in hours) needed to learn
each of the three different brands is given below:
Below is the Excel output for the randomized block design:
Referring to Table 11-8, what is the value of the F test statistic for testing the block
effects?
TABLE 9-10
A manufacturer produces light bulbs that have a mean life of at least 500 hours when
the production process is working properly. Based on past experience, the population
standard deviation is 50 hours and the light bulb life is normally distributed. The
operations manager stops the production process if there is evidence that the population
mean light bulb life is below 500 hours.
Referring to Table 9-10, if you select a sample of 100 light bulbs and are willing to have
a level of significance of 0.01, the probability of the operations manager stopping the
process if the population mean bulb life is 490 hours is ________.
Suppose Z has a standard normal distribution with a mean of 0 and standard deviation
of 1. The probability that Z is less than -2.20 is ________.
TABLE 13-12
The manager of the purchasing department of a large saving and loan organization
would like to develop a model to predict the amount of time (measured in hours) it
takes to record a loan application. Data are collected from a sample of 30 days, and the
number of applications recorded and completion time in hours is recorded. Below is the
regression output:
Referring to Table 13-12, the p-value of the measured t test statistic to test whether the
number of loan applications recorded affects the amount of time is ________.
TABLE 11-5
A hotel chain has identically small sized resorts in 5 locations in different small islands.
The data that follow resulted from analyzing the hotel occupancies on randomly
selected days in the 5 locations.
Analysis of Variance
* or p < 0.005, tabular value
Referring to Table 11-5, the among-group variation or SSA is ________.
TABLE 5-6
The quality control manager of Green Bulbs Inc. is inspecting a batch of energy saving
compact fluorescent light bulbs. When the production process is in control, the average
number of bad bulbs per shift is 6.0.
Referring to Table 5-6, what is the probability that any particular shift being inspected
has produced at least 6.0 bad bulbs?
