MGT 729 Test | Course Paper

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TABLE 6-1

The number of column inches of classified advertisements appearing on Mondays in a

certain daily newspaper is normally distributed with a population mean of 320 and a

population standard deviation of 20 inches.

Referring to Table 6-1, for a randomly chosen Monday, what is the probability that

there will be between 280 and 360 column inches of classified advertisement?

TABLE 18-4

A factory supervisor is concerned that the time it takes workers to complete an

important production task (measured in seconds) is too erratic and adversely affects

expected profits. The supervisor proceeds by randomly sampling 5 individuals per hour

for a period of 10 hours. The sample mean and range for each hour are listed below.

She also decides that lower and upper specification limit for the critical-to-quality

variable should be 10 and 30 seconds, respectively.

Referring to Table 18-4, what is the value of the CPU index?

TABLE 19-5

The following payoff table shows profits associated with a set of 2 alternatives under 3

possible events.

Suppose that the probability of Event 1 is 0.2, Event 2 is 0.5, and Event 3 is 0.3.

Referring to Table 19-5, what is the EMV for Action A?

Referring to Table 14-15, estimate the mean percentage of students

passing the proficiency test for all the schools that have a mean

teacher salary of 40,000 dollars, and an instructional spending per

pupil of 2,000 dollars.

TABLE 14-15

The superintendent of a school district wanted to predict the

percentage of students passing a sixth-grade proficiency test. She

obtained the data on percentage of students passing the proficiency

test (% Passing), mean teacher salary in thousands of dollars

(Salaries), and instructional spending per pupil in thousands of dollars

(Spending) of 47 schools in the state.

Following is the multiple regression output with Y = % Passing as the

dependent variable, X1 = Salaries and X2 = Spending:

TABLE 3-7

In a recent academic year, many public universities in the United States raised tuition

and fees due to a decrease in state subsidies. The change in the cost of tuition, a shared

dormitory room, and the most popular meal plan from the previous academic year for a

sample of 10 public universities were as follows: $1,589, $593, $1,223, $869, $423,

$1,720, $708, $1,425, $922 and $308.

Referring to Table 3-7, is the change in the cost right- or left-skewed?

A manufacturer of power tools claims that the mean amount of time required to

assemble their top-of-the-line table saw is 80 minutes with a standard deviation of 40

minutes. Suppose a random sample of 64 purchasers of this table saw is taken. The

standard deviation of the sampling distribution of the sample mean is ________

minutes.

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 0.05, the probability of the operations manager incorrectly

stopping the process when the process is in fact working properly is ________.

TABLE 5-7

There are two houses with almost identical characteristics available for investment in

two different neighborhoods with drastically different demographic composition. The

anticipated gain in value when the houses are sold in 10 years has the following

probability distribution:

Referring to Table 5-7, what is the total standard deviation of value gain if you invest in

both houses?

TABLE 13-10

The management of a chain electronic store would like to develop a model for

predicting the weekly sales (in thousands of dollars) for individual stores based on the

number of customers who made purchases. A random sample of 12 stores yields the

following results:

Referring to Table 13-10, what is the p-value of the F test statistic when testing whether

the number of customers who make purchases is a good predictor for weekly sales?

TABLE 16-5

The number of passengers arriving at San Francisco on the Amtrak cross-country

express on 6 successive Mondays were: 60, 72, 96, 84, 36, and 48.

Referring to Table 16-5, the number of arrivals will be exponentially smoothed with a

smoothing constant of 0.1. The smoothed value for the sixth Monday will be ________.