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GM 533 Applied Managerial Statistics Finals Complete_Answer

GM 533 Applied Managerial Statistics Finals Complete_Answer

GM 533 Applied Managerial Statistics Finals Complete_Answer

GM 533 Applied Managerial Statistics Finals Complete_Answer

GM 533 Applied Managerial Statistics Finals Complete_Answer


1. (TCO D) PuttingPeople2Work has a growing business placing out-of-work MBAs. They claim they can place a client in a job in their field in less than 36 weeks. You are given the following data from a sample.
Sample size: 100
Population standard deviation: 5
Sample mean: 34.2
Formulate a hypothesis test to evaluate the claim. (Points : 10)
Ho: µ = 36; Ha: µ ≠ 36
Ho: µ ≥ 36; Ha: µ < 36 Ho: µ ≤ 34.2; Ha: µ > 34.2
Ho: µ > 36; Ha: µ ≤ 36

2. (TCO B) The Republican party is interested in studying the number of republicans that might vote in a particular congressional district. Assume that the number of voters is binomially distributed by party affiliation (either republican or not republican). If 10 people show up at the polls, determine the following:

Binomial distribution

10 n
0.5 p

X P(X) cumulative
probability
0 0.00098 0.00098
1 0.00977 0.01074
2 0.04395 0.05469
3 0.11719 0.17188
4 0.20508 0.37695
5 0.24609 0.62305
6 0.20508 0.82813
7 0.11719 0.94531
8 0.04395 0.98926
9 0.00977 0.99902
10 0.00098 1.00000

What is the probability that no more than four will be republicans? (Points : 10)
38%
12%
21%
62%

3. (TCO A) Company ABC had sales per month as listed below. Using the Minitab output given, determine:
(A) Range (5 points);
(B) Median (5 points); and
(C) The range of the data that would contain 68% of the results. (5 points).
Raw data: sales/month (Millions of $)
23
45
34
34
56
67
54
34
45
56
23
19

Descriptive Statistics: Sales
Variable Total Count Mean StDev Variance Minimum Maximum Range
Sales 12 40.83 15.39 236.88 19.00 67.00 48.00

Stem-and-Leaf Display: Sales
Stem-and-leaf of Sales N = 12
Leaf Unit = 1.0
1 1 9
3 2 33
3 2
6 3 444
6 3
6 4
6 4 55
4 5 4
3 5 66
1 6
1 6 7

Reference:
(TCO A) Company ABC had sales per month as listed below. Using the MegaStat output given, determine:
(A) Range (5 points)
(B) Median (5 points)
(C) The range of the data that would contain 68% of the results. (5 points)

Raw data: sales/month (Millions of $)
19
34
23
34
56
45
35
36
46
47
19
23

4. (TCO C, D) Tesla Motors needs to buy axles for their new car. They are considering using Chris Cross Manufacturing as a vendor. Tesla’s requirement is that 95% of the axles are 100 cm ± 2 cm. The following data is from a test run from Chris Cross Manufacturing. Should Tesla select them as a vendor? Explain your answer.

Descriptive statistics

count 16
mean 99.850
sample variance 4.627
sample standard deviation 2.151
minimum 96.9
maximum 104
range 7.1
population variance 4.338
population standard deviation 2.083
standard error of the mean 0.538
tolerance interval 95.45% lower 95.548
tolerance interval 95.45% upper 104.152
margin of error 4.302
1st quartile 98.850
median 99.200
3rd quartile 100.550
interquartile range 1.700
mode 103.000
(Points : 25)

5. (TCO D) A PC manufacturer claims that no more than 2% of their machines are defective. In a random sample of 100 machines, it is found that 4.5% are defective. The manufacturer claims this is a fluke of the sample. At a .02 level of significance, test the manufacturer’s claim, and explain your answer.

Test and CI for One Proportion
Test of p = 0.02 vs p > 0.02

Sample X N Sample p 98% Lower Bound Z-Value P-Value
1 4 100 0.040000 0.000000 1.43 0.077

Finals page 2
1. (TCO B) The following table gives the number of visits to recreational facilities by kind and geographical region.
(Points : 30)

finals 2 -2
2. (TCO B, F) The length of time Americans exercise each week is normally distributed with a mean of 15.8 minutes and a standard deviation of 2.2 minutes

X P(X≤x) P(X≥x) Mean Std dev
11 .0146 .9854 15.8 2.2
15 .3581 .6419 15.8 2.2
21 .9910 .0090 15.8 2.2
24 .9999 .0001 15.8 2.2
p(lower) p(upper)

(A) Analyze the output above to determine what percentage of Americans will exercise between 11 and 21 minutes per week. (15 points)
(B) What percentage of Americans will exercise less than 15 minutes? If 1000 Americans were evaluated, how many would you expect to have exercised less than 15 minutes? (15 points) (Points : 30)

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GM 533 Applied Managerial Statistics Finals Complete_Answer