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Basic Business Statistics Study Set 1
Exam 6: The Normal Distribution and Other Continuous Distributions
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Question 21
Short Answer
Suppose Z has a standard normal distribution with a mean of 0 and standard deviation of 1. -The probability that Z values are larger than _________is 0.3483.
Question 22
True/False
The probability that a standard normal random variable,Z,is between 1.00 and 3.00 is 0.1574.
Question 23
Short Answer
The amount of pyridoxine (in grams)in a multiple vitamin is normally distributed with
μ
\mu
μ
= 110 grams and
σ
\sigma
σ
25 grams. -What is the probability that a randomly selected vitamin will contain between 100 and 110 grams of pyridoxine?
Question 24
Short Answer
The amount of time necessary for assembly line workers to complete a product is a normal random variable with a mean of 15 minutes and a standard deviation of 2 minutes. -The probability is _________ that a product is assembled in more than 11 minutes.
Question 25
Short Answer
Patients arriving at an outpatient clinic follow an exponential distribution with mean 15 minutes.What is the probability that a randomly chosen arrival to be more than 18 minutes?
Question 26
Multiple Choice
A catalogue company that receives the majority of its orders by telephone conducted a study to determine how long customers were willing to wait on hold before ordering a product.The length of time was found to be a random variable best approximated by an exponential distribution with a mean equal to 3 minutes. -Find the waiting time at which only 10% of the customers will continue to hold.
Question 27
Short Answer
Instruction 6.2 John has two jobs. For daytime work at a jewellery store he is paid $15,000 per month, plus a commission. His monthly commission is normally distributed with mean $10,000 and standard deviation $2,000. At night he works as a waiter, for which his monthly income is normally distributed with mean $1,000 and standard deviation $300. John's income levels from these two sources are independent of each other. -Referring to Instruction 6.2,for a given month,what is the probability that John's income as a waiter is at least $1,400?
Question 28
Multiple Choice
The value of the cumulative standardised normal distribution at 1.5X is 0.9332.The value of X is
Question 29
True/False
As a general rule,one can use the normal distribution to approximate a binomial distribution whenever the sample size is at least 30.
Question 30
Short Answer
A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan.Suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. -Find the age at which payments have ceased for approximately 86% of the plan participants.
Question 31
Short Answer
Suppose Z has a standard normal distribution with a mean of 0 and standard deviation of 1. -The probability that Z is less than 1.15 is _________.
Question 32
Short Answer
Instruction 6.5 The city manager of a large city believes that the number of reported accidents on any weekend has a normal distribution. She takes a sample of nine weekends and determines the number of reported accidents during each. The ordered array for this data is: 15, 46, 53, 54, 55, 76, 82, 256, 407. -Referring to Instruction 6.5,the seventh standard normal quantile is _______
Question 33
Short Answer
Patients arriving at an outpatient clinic follow an exponential distribution at a rate of 1.5 patients per hour.What is the probability that a randomly chosen arrival to be less than 10 minutes?