The National Association of Realtors reported that 26 of home buyers in the state of Florida are foreigners.
When testing the validity of this report, a Type I error would occur if it was concluded that the proportion of foreign buyers was _____________________________
_.A) more than 26 when, in reality, the proportion was 26 or less
B) not equal to 26 when, in reality, the proportion was equal to 26
C) 26 or less when, in reality, the proportion was more than 26
D) equal to 26 when, in reality, the proportion was not equal to 26
Q. 2There are 23 golfers participating in a weekend tournament. Prizes are awarded to the first, second, third, and fourth place finishers. The number of different ways these four places can be filled by those playing over the weekend is ________.
A) 3,450
B) 8,855
C) 70,256
D) 212,520
Q. 3The MCAT is the admission exam that medical schools use as one of the criteria for accepting students. The exam is based on a scale of 0-45. The following data shows the MCAT scores for nine students.
32 36 29 31 30 35 34 26 30The 35th percentile of this data set is ________.A) 30
B) 31
C) 31.5
D) 32
Q. 4Travelocity would like to test if the average roundtrip airfare between New York and London is less than 1,400. A Type II error would occur if Travelocity concludes that the average airfare is _____________________________
__________________.
A) equal to 1,400 when, in reality, the average airfare is not equal 1,400 or more
B) not equal to 1,400 when, in reality, the average airfare is equal to 1,400
C) 1,400 or more when, in reality, the average airfare is less than 1,400
D) less than 1,400 when, in reality, the average airfare is 1,400 or more
Q. 5Two real estate companies, Century 21 and RE/MAX, compete with one another in a local market.
The manager of the Century 21 office would like to advertise that homes listed with RE/MAX average more than 10 days on the market when compared to homes listed with his company. The following data shows the sample size and average number of days on the market for the two companies along with the population standard deviations. Century 21 RE/MAXSample mean 122 days 144 daysSample size 36 30Population standard deviation 32 days 35 daysIf Population 1 is defined as RE/MAX and Population 2 is defined as Century 21, and using = 0.10, the critical value for this hypothesis test would be ________.A) 1.28
B) 1.645
C) 1.96
D) 2.33
Q. 6Alison is the chair of a business department that consists of nine full-time faculty. She needs to schedule a meeting with each faculty to review their performance over the past year.
The number of different ways these nine faculty can be scheduled is ________.A) 40,320
B) 162,500
C) 362,880
D) 3,628,880
Q. 7According to the Deloitte EV Survey, 5 of respondents indicated that they would be willing to pay an extra 500 or more for an electric vehicle versus one with a gasoline engine. A random sample of 25 adults has been selected.
Use the Poisson distribution to approximate the binomial distribution to determine the probability that three or four adults from this sample would be willing to pay an extra 500 or more for an electric vehicle versus one with a gasoline engine.A) 0.0775
B) 0.1224
C) 0.2965
D) 0.3452
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