The Cromwell Construction Company has the opportunity to enter into a contract to build a mountain road. The following table shows the probability distribution for the profit that could occur if it takes the contract:
Profit Probability
30,000 0.15
50,000 0.20
70,000 0.30
100,000 0.35
Based on this information, the probability of profit being at least 70,000 is 0.65.
Indicate whether the statement is true or false
Q. 2A national car rental agency is interested in determining whether the mean days that customers rent cars is the same between three of its major cities.
The following data reflect the number of days people rented a car for a sample of people in each of three cities. Assuming that a one-way analysis of variance is to be performed, the value of the test statistic is approximately F = 3.4.Boston Dallas Seattle5 7 73 7 57 11 81 5 112 7 3 Indicate whether the statement is true or false
Q. 3In conducting a hypothesis test where the conclusion is to reject the null hypothesis, then either a correct decision has been made or else a Type I error.
Indicate whether the statement is true or false
Q. 4The Canyon Water Company collects data on the number of gallons of water consumed during a month for each customer. The production manager has divided the usage into 6 classes.
To display these data effectively, she could use which of the following types of graphs to convey information about the water usage?A) A stem and leaf diagram
B) A bar chart
C) A histogram
D) Either a histogram or a pie chart
Q. 5A bar chart possesses which of the following?
A) Capability of displaying the distribution for a quantitative variable
B) The option of displaying the data in scatter diagram form
C) The option for displaying two or more variables on the same chart
D) An easy method for displaying the general shape of a continuous variable
Q. 6The Adams Shoe Company believes that the mean size for men's shoes is now more than 10 inches.
To test this, it has selected a random sample of n = 100 men. Assuming that the test is to be conducted using a .05 level of significance, a p-value of .07 would lead the company to conclude that its belief is correct.
Indicate whether the statement is true or false
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