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STAT 211 Business Statistics I – Term 083, Final exam 2
1. When a manager of a certain market prepares a series of charts and graphs to all
people who invested in that market during the past five years, he is using which
general category and statistical analysis?
a. Qualitative statistics
b. Quantitative statistics
c. Inferential statistics
d. Descriptive statistics
e. None of the above.
a. Histogram
b. Scatter diagram
c. Stem – and –leaf diagram
d. Bar chart
e. Box plot
3. The advantage of using the interquartile range versus the range as a measure of
variation is
a. Cluster sampling.
b. Simple random sampling.
c. Stratified random sampling.
d. Systematic sampling
e. None of the above true.
a. The whiskers on a box and whisker plot should be about half as long as the box
is wide.
b. The width of the box in a box and whisker plot will be quite wide but the whisker
will be very short.
c. The left and right-hand box on a box and whisker plot will be approximately
equal distance from the median.
d. a and b true
e. b and c true
STAT 211 Business Statistics I – Term 083, Final exam 3
6. If a decision maker wishes to reduce the margin of error associated with a confidence
interval estimate for a population mean, she can:
a. Becomes narrower.
b. Becomes wider.
c. Remains the same.
d. Can’t be determined depend on the information given.
e. None of the above.
9. In constructing confidence interval estimate for the difference between the means of
two normally distributed populations, using two independent samples, we:
a. pool the sample variances when the unknown population variances are equal
b. pool the sample variances when the population variances are known and equal
c. pool the sample variances when the population means are equal
d. never pool the sample variances
e. Nome of the above.
10. In an effort to estimate the mean dollars spent per visit by customers of a food store,
the manager has selected a random sample of 100 cash register receipts. The mean
of these was $45.67 with a sample standard deviation equal to $12.30. Assuming
that he wants to develop a 90 percent confidence interval estimate, the upper limit
of the confidence interval estimate is
a. about $47.69.
b. About + $2.02.
c. Nearly $50.20.
d. approximately $65.90..
a. about $47.69.
STAT 211 Business Statistics I – Term 083, Final exam 4
11. If some natural relationship exists between each pair of observations that provides a
logical reason to compare the first observation of sample 1 with the first observation
of sample 2, the second observation of sample 1 with the second observation of
sample 2, and so on, the samples are referred to as:
a. matched samples
b. independent samples
c. weighted samples
d. random samples
e. Can’t be determined without knowing σ .
13. A 90% confidence interval estimate of the population mean μ can be interpreted to
mean that:
14. If A and B are mutually exclusive events with P(A) = 0.70, then P(B):
15. ( ) ( ) ( )
Suppose P A C = 0.3 , P B C / A = 0.4 , and P B C / A C = 0.5 , then P ( B or A ) =
a. 0.85
b. 0.43
c. 0.49
d. 0.58
e. None of the above
STAT 211 Business Statistics I – Term 083, Final exam 5
16. A survey of a magazine’s subscribers indicates that 50% own a home, 80% own a
car, and 90% of the homeowners who subscribe also own a car. What proportion of
subscribers own both car and a house
a. 0.9
b. 0.45
c. 0.4
d. 0.85
e. None of the above.
17. What the probability that the total of two dice will be grater than 8, given that the
first die is 6?
a. 1 2
b. 1 6
c. 1 9
d. 2 3
e. None of the above.
18. An automobile manufacturers designed a medium passenger car so that the largest
load of the vehicle's is 2550 kg and a capacity of 30 passengers, if you know that the
Weights of a group of people who use this vehicle with average of 80 kg and
standard deviation of 10 kg calculate the possibility that this car carrying more than
its capacity.
a. 0.1915.
b. 0.4968.
c. 0.0032.
d. 0.3085.
e. None of the above.
⎧a x = 2, 4, 6
f ( x) = ⎨
⎩0 otherwise
Find the probability that a random sample of size 49 selected will yield a sample
mean greater than 4.1?
a. 0.4761.
b. 0.3372.
c. 0.0239.
d. 0.1628.
e. None of the above
STAT 211 Business Statistics I – Term 083, Final exam 6
20. A popular restaurant takes a random sample n=25 customers and records how long
each occupied a table. The found a sample mean of 1.2 hours and a sample standard
deviation of 0.3 hours. Find the 95% confidence interval for the mean.
a. 1.2 ± 0.1238
b. 1.2 ± 0.1176
c. 1.2 ± 0.5874
d. 1.2 ± 0.6091
e. Can’t be determined without knowing whether the population is normally
21. A study has indicated that the sample size necessary to estimate the average
electricity use by residential customers of a large western utility company is 900
customers. Assuming that the margin of error associated with the estimate will be +
30 watts and the confidence level is stated to be 90 percent, what was the value for
the population standard deviation?
a. 265 watts.
b. Approximately 547.112 watts.
c. Approximately 459.183 watts.
d. About 490 watts.
e. Can’t be determined without knowing the size of the population.
22. A sample of 250 people resulted in a confidence interval estimate for the proportion
of people who believe that the Federal Government’s proposed tax increase is
justified is between 0.14 and 0.20. Based on this information, what was the
confidence level used in this estimation?
23. A package delivery service claims that no more than 5 percent of all packages arrive
at the address late. If a sample of size 10 packages is randomly selected and the 5
percent rate holds, what is the probability that more than 2 packages will be
delivered late?
a. 0.0115.
b. 0.0105.
c. 0.0862.
d. 0.05.
e. None of the above.
STAT 211 Business Statistics I – Term 083, Final exam 7
24. The lower limit of a confidence interval at the 95% level of confidence for the
population proportion if a sample of size 200 had 40 successes is
a. 0.1535
b. 0.2554
c. 0.2465
d. 0.1445
e. None of the above
25. In a recent report, it was stated that the proportion of employees who carpool to
their work is 0.14 and that the standard deviation of the sampling proportion is
0.0259. However, the report did not indicate what the sample size was. What was
the sample size?
a. 360
b. 100
c. 460
d. 180
e. Can’t be determined without more information
26. Phone calls arrive at the rate of 30 per hour at the reservation desk for a hotel. If no
calls are currently being processed, what is the probability that the desk employee
can take four minutes break without being interrupted?
a. 0.0183
b. 0.1353
c. 0.00033546
d. 0.1954
e. None of the above.
27. The time between calls to an emergency 911 call center is exponentially distributed
with a mean time between calls of 645 seconds. Based on this information, what is
the probability that the time between the next two calls is between 200 and 400
seconds?
a. About 0.1955
b. Approximately 0.47
c. About 0.747.
d. About 0.299
e. None of the above.
28. After calculating the sample size needed to estimate a population proportion to within
0.04, your statistics professor told you the maximum allowable error must be
reduced to just 0.01. If the original calculation led to a sample size of 800, the
sample size will now have to be:
a. 12800
b. 800
c. 12000
d. 13600
e. None of the above.
STAT 211 Business Statistics I – Term 083, Final exam 8
29. The manager of a computer help desk operation has collected enough data to
conclude that the distribution of time per call is normally distributed with a mean
equal to 8.21 minutes and a standard deviation of 2.14 minutes. The manager has
decided to have a signal system attached to the phone so that after a certain period
of time, a sound will occur on her employees’ phone if she exceeds the time limit.
The manager wants to set the time limit at a level such that it will sound on only 8
percent of all calls. The time limit should be:
The Olsen Agricultural Company has determined that the weight of hay bales is normally
distributed with a mean equal to 80 pounds and a standard deviation equal to 8 pounds.
30. What is the mean of the sampling distribution for the sample mean if the sample size
is n = 64?
a. 80
b. 1
c. 8
d. Between 72 and 88
e. None of the above
31. What is the probability that the mean weight of the bales in a sample of n = 64 bales
will be between 78 and 82 pounds?
a. 0.9544
b. 0.4772
c. 0.0228
d. 0.6346
e. 0.5000
32. The following values represent the population of home mortgage interest rates (in
percents) being charged by the banks in a particular city:
Given this information, what is the most extreme amount of sampling error possible
if a random sample of n = 4 banks is surveyed and the mean loan rate is calculated?
a. -0.55 percent
b. 0.525 percent
c. 7 percent
d. Can’t be determined without more information.
e. None of the above
STAT 211 Business Statistics I – Term 083, Final exam 9
33. A company has determined that the mean number of days it takes to collect on its
accounts receivable is 36 with a standard deviation of 11 days. The company plans
to select a random sample of n=12 accounts and compute the sample mean. Which
of the following statements holds true in this situation?
34. A major shipping company has stated that 96 percent of all parcels are delivered on
time. To check this, a random sample of n = 200 parcels were sampled. Of these,
184 arrived on time. If the company’s claim is correct, what is the probability of 184
or fewer parcels arriving on time?
a. About 0.002.
b. Nearly 0.24.
c. Just over 0.96.
d. About 0.4980
e. Can’t be determined without more information.
35. The produce manager for a large retail food chain is interested in estimating the
percentage of potatoes that arrive on a shipment with bruises. A random sample of
150 potatoes showed 14 with bruises. Based on this information, what is the margin
of error for a 95 percent confidence interval estimate?
a. 0.0465
b. 0.0933
c. 0.0006.
d. 0.05
e. Can’t be determined without knowing σ .
36. The chamber of commerce in a beach resort town wants to estimate the proportion of
visitors who are repeat visitors. From previous experience they believe the portion is
not larger than 20%. They want to estimate the proportion to within + 0.04
percentage points with 95% confidence. The sample size they should use is
a. 385
b. 601
c. 10
d. 97
e. Can’t be determined without knowing σ .
STAT 211 Business Statistics I – Term 083, Final exam 10
In a controlled laboratory environment, a random sample of 10 adults and a random
sample of 10 children were tested by psychologists to determine the room temperature
that each person finds most comfortable. Suppose that the psychologist decides to
construct a 99% confidence interval for the different in mean comfortable room
temperatures. The 99% confidence interval turns out to be (- 2.9, 3.1).
38. The point estimate for the difference between the two means.
a. 0.1
b. 3
c. 6
d. 0.2
e. Can’t be determined without more information.
a. 2.330532
b. 0.077680
c. 2.252847
d. 6.913912
e. Can’t be determined without more information.
40. Calculate a 90% confidence interval estimate for the difference between the two
means
a. (- 1.70736, 1.907358)
b. (- 1.60736, 2.007358)
c. (1.192642, 4.807358)
d. (4.192642, 7.807358)
e. Can’t be determined without more information.