A population frame for a survey contains a listing of 6,179 names. Using a table of random numbers, which of the following code numbers will appear on your list?
A) 61790 B) 06 C) 6946 D) 0694
Q. 2
A population frame for a survey contains a listing of 72,345 names. Using a table of random numbers, how many digits will the code numbers for each member of your population contain?
A) 5 B) 4 C) 3 D) 6
Q. 3
Since a ________ is not a randomly selected probability sample, there is no way to know how well it represents the overall population.
A) simple random sample B) stratified sample
C) convenience sample D) cluster sample
Q. 4
A telemarketer set the company's computerized dialing system to contact every 25th person listed in the local telephone directory. What sampling method was used?
A) simple random sample B) systematic sample
C) stratified sample D) cluster sample
Q. 5
The Dean of Students mailed a survey to a total of 400 students. The sample included 100 students randomly selected from each of the freshman, sophomore, junior, and senior classes on campus last term. What sampling method was used?
A) simple random sample B) systematic sample
C) stratified sample D) cluster sample
|
|
Which of the following statements about the median is not true?
a. It is more affected by extreme values than the mean.
b. It is a measure of central location.
c. It is equal to Q2.
d. It is equal to the mode in a bell shaped distribution.
|
|
A confidence interval was used to estimate the proportion of statistics students who are female. A random sample of 72 statistics students generated the following 90 confidence interval: (0.438, 0.642).
Based on the interval, is the population proportion of females equal to 58?
A) Yes, and we are 90 sure of it.
B) Maybe. 58 is a believable value of the population proportion based on the information above.
C) No, the proportion is 54.
D) No, and we are 90 sure of it.
Q. 2
The number of traffic accidents that occur on a particular stretch of road during a month follows a Poisson distribution with a mean of 6.5. Find the probability that fewer than two accidents will occur on this stretch of road during a month.
What will be an ideal response?
Q. 3
In an experiment with 10 treatments, how many pairs of means can be compared?
A) 45 B) 20 C) 90 D) 100
Q. 4
A confidence interval was used to estimate the proportion of statistics students who are female. A random sample of 72 statistics students generated the following 99 confidence interval: (0.438, 0.642).
State the level of reliability used to create the confidence interval.
A) between 43.8 and 64.2 B) 99
C) 64.2 D) 72
Q. 5
A certain baseball player hits a home run in 7 of his at-bats. Consider his at-bats as independent events. Find the probability that this baseball player hits at most 42 home runs in 800 at-bats?
A) 0.0307 B) 0.93 C) 0.9693 D) 0.07
Q. 6
A small life insurance company has determined that on the average it receives 4 death claims per day. Find the probability that the company receives at least seven death claims on a randomly selected day.
What will be an ideal response?
Q. 7
The number of homeruns hit during a major league baseball game follows a Poisson distribution with a mean of 3.2. Find the probability that a randomly selected game would have exactly 5 homeruns hit.
A) 0.895 B) 0.105 C) 0.114 D) 0.219
|
|
Provide an appropriate response.
A lab orders a shipment of 100 rats a week, 52 weeks a year, from a rat supplier for experiments that the lab conducts. Prices for each weekly shipment of rats follow the distribution below:
Suppose the mean cost of the rats turned out to be $13.38 per week. Interpret this value.
▸ Most of the weeks resulted in rat costs of $13.38.
▸ The rat cost that occurs more often than any other is $13.38.
▸ The average cost for all weekly rat purchases is $13.38.
▸ The median cost for the distribution of rat costs is $13.38.
|
|
You believe in the power of compounding and decide to save $1 per day by avoiding the purchase of a soda. You deposit the $1 at the end of each day in a bank account that pays 8% interest compounded daily. You are going to take a trip in 20 years with the money you have accumulated. How much money will you have in 20 years, assuming 365 days per year?
A) $7,500
B) $12,438
C) $18,032
D) $22,456
|
|
If a shareholder cannot attend the corporation's annual meeting, the shares may still be voted using
A) the preemptive right.
B) a proxy.
C) majority voting rules.
D) the cumulative voting right.
|
|
Preferred stock valuation usually treats the preferred stock as a
A) capital asset.
B) perpetuity.
C) common stock.
D) long-term bond.
|
|
PBJ Corporation issued bonds on January 1, 2006. The bonds had a coupon rate of 5.5%, with interest paid semiannually. The face value of the bonds is $1,000 and the bonds mature on January 1, 2021. What is the yield to maturity for a PBJ Corporation bond on January 1, 2012 if the market price of the bond on that date is $950?
A) 5.50%
B) 6.23%
C) 8.43%
D) 10.50%
|
|
If a bond sells for its par value, the coupon interest rate and yield to maturity are equal.
[True or False]
|
|
You have the choice of two equally risk annuities, each paying $5,000 per year for 8 years. One is an annuity due and the other is an ordinary annuity. If you are going to be receiving the annuity payments, which annuity would you choose to maximize your wealth?
A) the annuity due
B) the ordinary annuity
C) Since we don't know the interest rate, we can't find the value of the annuities and hence we cannot tell which one is better.
D) either one because they have the same present value
|
|
