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PS-Chapter 7
FALL 2008
1. In a recent survey of college professors, it was found that the average amount of
money spent on entertainment each week was normally distributed with a mean of
$95.25 and a standard deviation of $27.32. What is the probability that the average
spending of a sample of 25 randomly-selected professors will exceed $102.50?
A)
B)
C)
D)
0.0918
0.1064
0.3936
0.4082
ANSWER:
4. What is the probability that more than 227% of these invoices are for more than
$800?
A)
B)
C)
D)
0.1368
0.2266
0.3632
0.2734
ANSWER:
5. Suppose that 15% of all invoices are for amounts greater than $1000. A random
sample of 60 invoices is taken. What is the probability that at least 25% of these
invoices are for more than $800?
A)
B)
0.1894
0.8106
C)
D)
0.3106
0.8894
ANSWER:
6. Suppose that 15% of all invoices are for amounts greater than $1,000. A random
sample of 60 invoices is taken. What is the probability that between 17% and 23% of
these invoices are for more than $800?
A)
B)
C)
D)
0.2981
0.2019
0.0962
0.4038
ANSWER:
7. The number of students using the ATM on campus daily is normally distributed
with a mean of 237.6 and a standard deviation of 26.3. For a random sample of 55
days, what is the probability that ATM usage averaged more than 230 students per
day?
A)
B)
C)
D)
0.9756
0.9483
0.9838
0.9524
ANSWER:
-1
-0.5
0.5
P( x )
0.0625
0.25
0.375
0.25
0.0625
Hence, the standard error for the sampling distribution of sample means = X = 0.5
13. What is the probability that the mean number of points you receive on four flips is
0.5?
ANSWER:
P( X 0.5) = 0.25
14. What is the probability that the mean number of points you receive on four flips
is 0?
ANSWER:
P( X 0) = 0.375
16.
Over the course of the next year, the probability is 85% that you average less
than how many games per month?
ANSWER:
10, 2.4, n 12
P( X a) 0.85 P ( Z
a 10
2.4 / 12
) 0.85
a 10
1.04 a 10.721
0.6928
17. The number of orders that come into a mail-order sales office each month is
normally distributed with a mean of 298 and a standard deviation of 15.4. For a
particular sample size, the probability is 0.2 that the sample mean exceeds 300. How
big must the sample be?
ANSWER:
P( X 300) 0.20 P ( Z
300 298
15.4 / n
) 0.20 P( Z
2 n
2 n
) 0.20
0.84
15.4
15.4
n 41.84 42
19.
20.
21.
What is the probability that the sample proportion is greater than 0.60?
ANSWER:
ANSWER:
n 1 s 2
P( s > 0.5)= P
2
29 0.5
0.3
23. The probability is 0.10 that for a sample of 30 bottles, the sample variance is less
than what number?
ANSWER:
n 1 s 2
P( s 2 k ) 0.10 P
29k
0.10
0.3
P 2 96.67 k 0.10
96.67 k 19.768
k 0.2045
P( X < 1700) = P Z
1700 1742
= P(Z < -2.66) = 0.0039
132 / 70
25. The probability is 0.23 that the average balance for these accounts is greater than
what amount?
ANSWER:
P[ X >k) = 0.23 = P Z
K 1742
K 1742
P Z 15.777
132 / 70
K 1742
= 0.74 K = $1,753.67.
15.777
26. The time it takes to complete the assembly of an electronic component is normally
distributed with a standard deviation of 4.5 minutes. If we randomly select 20
components, what is the probability that the standard deviation for the time of
assembly of these units was 50% more than the population standard deviation?
ANSWER:
n =20 and 4.5
n 1 s 2
s2
2.25
P
19 2.25
P 2 42.75 0.005
2
2
P s 1.50 P
27. It has been estimated that 53% of all college students change their major at least
once during the course of their college career. Suppose you are told that the sample
proportion for a random sample was 0.48. Furthermore, you are told that the
probability of getting a sample proportion of this size or smaller is 14%. What must
have the sample size been?
ANSWER:
P = 0.53, P =0/48
P P 0.48 0.14 P Z
0.48 0.53
0.05
P Z
.
0.2491/ n
0.53 0.47 / n
0.05
1.08 n ; 17 .
0.2491/ n
ANSWER:
2
P( s 2 k ) 0.05 P[( n 1) s 2 / 2 (n 1) k / 2 ] 0.05 P ( 24
0.24k ) 0.05
Hence, 0.24k = 13.848 and k = 57.7. Therefore, if the sample variance is 57.7, then
5% of the sample variances would be less than this value
35. What is the value of the sample variance such that 5% of the sample variances
would be greater than this value?
ANSWER:
2
P( s 2 k ) 0.05 P[( n 1) s 2 / 2 ( n 1) k / 2 ] 0.05 P ( 24
0.24k ) 0.05
Hence, 0.24k = 36.415 and k = 151.73. Therefore, if the sample variance is 151.73,
then 5% of the sample variances would be greater than this value
QUESTIONS 36 THROUGH 38ARE BASED ON THE FOLLOWING
INFORMATION:
A random sample of 10 stock market mutual funds was taken. Suppose that rates of
returns on the population of stock market mutual funds follow a normal distribution.
36.
The probability is 0.10 that sample variance is bigger than what percentage of
the population variance?
ANSWER:
or 163.16%
37.
Find any pair of numbers, a and b, to complete the following sentence: The
probability 0.95 that the sample variance is between a% and b% of the population
variance.
ANSWER: Since P( 92 2.7) 0.025 and P( 92 19.023) 0.025 , then 2.7 = 9a and
19.023 = 9b.
Therefore, a = 0.30 and b = 2.1137, and the probability is 0.95 that the sample
variance is between 30% and 211.37% of the population variance
38. Suppose that a sample of 20 mutual funds had been taken. Without doing the
calculations, indicate how this would change your answer to question 2.
ANSWER: The interval in question 140 will be smaller