University of South Florida: QMB 6305 Quiz 2 Questions and Answers,100% CORRECT

University of South Florida: QMB 6305 Quiz 2 Questions and Answers Store sales of a large retail chain with thousands of stores tend to follow a normal distribution with a mean of 2.5 million and a standard deviation of 0.5. What percent of stores will have sales exceeding 3.5 million? about 4.5% about 2.275% about 22.75% about 97.725% Answer: about 2.275% Store sales of a large retail chain tend to follow a normal distribution with a mean of 2.5 million and a standard deviation of 0.5. If there are a total of 4000 stores, about how many stores will have sales below 2 million? about 91 about 635 about 3365 about 5 Answer: about 635 If z represents a standard normal random variable, what is the value of z0, such that the Probability that z is greater than z0 is 20%? 0.8416 -0.1584 0.1584 -0.8416 Answer: 0.8416 The distribution of a standard normal variable has a mean and standard deviation, respectively, of: 1 and 1 1 and 0 0 and 1 0 and 0 Answer: 0 and 1 Store sales of a large retail chain tend to follow a normal distribution with a mean of 2.5 million and a standard deviation of 0.5. If there are a total of 4000 stores, about how many stores will have sales between 1 and 3 million? about 3989 about 629 about 3360 about 3365 Answer: about 3360 Suppose I define my random variable as the number of hurricanes of category 4 or above that strike land in a given year. Suppose historically, the average number of such hurricanes striking land is 2, what is the probability that next year between 1 and 3 (including 1 and 3) number of hurricanes will strike land? 0.722 0.451 0.541 cannot be answered from the information given Answer: 0.722 Which of the following is a discrete random variable? Normal Poisson Standard Normal t-Distribution Answer: Poisson A random variable X is continuous with a normal distribution with a mean of 100 and a standard deviation of 25. What is P(X = 125)? 0 about 0.0097 about 0.8413 about 0.1587 Answer: 0 Store sales of a large retail chain tend to follow a normal distribution with a mean of 2.5 million and a standard deviation of 0.5. If a particular store's sales are at 80th percentile, what are the sales for that store? about 2.92 million cannot be answered from the information given about 2.60 million about 3.0 million Answer: about 2.92 million Suppose I define my random variable as the number of hurricanes of category 4 or above that strike land in a given year. Suppose historically, the average number of such hurricanes striking land is 2, what is the probability that next year 2 or more such hurricanes will strike land? 0.594 0.50 0.053 0.323 Answer: 0.594