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Parice Problem

Decent Essays

BMA 140 WINTER 2011
PRACTICE (Midterm)

1. Monthly rent data in dollars for a sample of 10 one-bedroom apartments in a small town in Iowa are given below: 220 216 220 205 210 240 195 235 204 250

a. Compute the sample monthly average rent b. Compute the sample median c. What is the mode? d. Describe briefly what each statistic in parts a. to c. tells you about the data. 2. Suppose that a firm’s sales were $2,500,000 four years ago, and sales have grown annually by 25%, 15%, -5%, and 10% since that time. What was the geometric mean growth rate in sales over the past four years?

3. Suppose that a firm’s sales were $3,750,000 five years ago and are $5,250,000 today. What …show more content…

The newsletter has predicted a rise for 80% of the years when the market actually rose, and has predicted a rise for 40% of the years when the market fell. Find the probability that the newsletter’s prediction for next year will be correct. 12. Suppose P() = 0.30, P() = 0.40, and P() = 0.50. a. Find P(A and B). b. Find P() c. Find P(A or B). 13. A standard admissions test was given at three locations. One thousand students took the test at location A, 600 students at location B, and 400 students at location C. The percentages of students from locations A, B, and C, who passed the test were 70%, 68%, and 77%, respectively. One student is selected at random from among those who took the test. a. What is the probability that the selected student passed the test? b. If the selected student passed the test, what is the probability that the student took the test at location B? c. What is the probability that the selected student took the test at location C and failed?

14. Sales records of an appliance store showed the following number of dishwashers sold weekly for each of the last 50 weeks. Number of Dishwashers Sold | Number of Weeks | 0 | 20 | 1 | 15 | 2 | 10 | 3 | 4 | 4 | 1 |

a. Define the random experiment of interest to the store. b. List the outcomes in the sample space c. Assign

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