QNT 561 Final Exam with (QUESTIONS & Answers)

1. James Desreumaux, VP of Human Resources of American First Banks (AFB), is reviewing the employee training programs of AFB banks. His staff randomly selected personnel files for 100 tellers in the Southeast Region and determined that their mean training time was 25 hours. Assume that the population standard deviation is 5 hours. The 95% confidence interval for the population mean of training times is 2. If x is a binomial random variable with n=10 and p=0.8, the mean value of x is 3. According to the central limit theorem, for samples of size 64 drawn from a population with µ =800 and σ = 56, the standard deviation of the sampling distribution of sample means would equal 4. Life tests performed on a sample of 13 batteries of a new model indicated: (1) an average life of75 months, and (2) a standard deviation of 5 months. Other battery models, produced by similar processes, have normally distributed life spans. The 98% confidence interval for the population mean life of the new model is 5. A large national company is considering negotiating cellular phone rates for its employees Human Resource department would like to estimate the proportion of its employee population who own an Apple iPhone. A random sample of size 250 is taken and 40% of the sample own and iPhone.. The 95% confidence interval to estimate the population proportion is 6. The number of bags arriving on the baggage claim conveyor belt in a 3 minute time period would best be modeled with the 7. The weight of a USB flash drive is 30 grams and is normally distributed. Periodically, quanlity control inspectors at Dallas Flash Drives randomly select a sample of 17 USB flash drive. If the mean weight of the USB flash drives is too heavy or too light the machinery is shut down for adjustment; otherwise, the production process continues. The last sample showed a mean and standard deviation of 31.9 and 1.8 grams, respectively. Using a = 0.10, the appropriate decision is 8. Elwin Osbourne, CIO at GFS, Inc., is studying employee use of GFS e-mail for non-business communications. He plans to use a 95% confidence interval estimate of the proportion of e-mail messages that are non-business; he will accept a 0.05 error. Previous studies indicate that approximately 30% of employee e-mail is not business related. Elwin should sample e-mail messages 9. The following frequency distribution was constructed for the wait times in the emergency room The frequency distribution reveals that the wait times in the emergency room are 10. The number of cars arriving at a toll booth in five-minute intervals is Poisson distributed with a mean of 3 cars arriving in five-minute time intervals. The probability of 5 cars arriving over a five-minute interval is 11. The number of finance majors within the School of Business is an example of a 12. According to the central limit theorem, for samples of size 64 drawn from a population with µ = 800 and σ = 56, the mean of the sampling distribution of sample means would equal DOWNLOAD FOR MORE ACCURATE SOLUTIONS