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
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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
(2) Give that a sample of 25 had x = 75, and (x-x)² = 48 the mean and standard
Find P(12 < x < 23) when mu = 19 and sigma = 6. Write your steps in probability notation.
B. High stake testing determines if a student will move forward a grade or not.
1. The table below presents data for a sample of people who completed a religious survey.
year 2 is $23.64 or $33.64. In each case the market expects the firm to earn 10%
they will pass the course. The probability of not passing if the student does not do the
like this: Narragansett maintains data on the average annual usage and cost of each item. Based on
The approx. growth rate g is 0.30 (1+g)31 = 1.40 g ≈ 0.0509 ≈ 5.09%
From 1976 to 1982 the compound annual growth in net sales was 18.5% and the compound annual growth of after tax profit was 25.9%. Therefore, a 10% net sales growth shown in the proforma financial data seems reasonable.
9. Flip a coin 25 times and keep track of the results. What is the experimental probability of landing on tails? What is the theoretical probability of landing on heads or tails?
1. In the last five years the growth in sales for the company has been around 10% per annum, except for the 1997, the growth was 18.78%. In the case, nothing is mentioned that company has made any drastic changes in its strategy to grow faster. In such a scenario, projected a consistent growth of 20% per annum for the next 5 years is too optimistic.
years, sales had increased at a 7% compound rate, while earnings, benefiting from substantial cost
Females: 41.7 / 73.6 = 0.566576 = 56.7 %. The pass score of 56.7% shows that there is evidence of adverse impact: 62.5 / 77.7 = 0.8043758 = 80.4%. The pass rate which is 80.4% indicates that there is no evidence of adverse impact.
2) Given that BT Yellow Pages accounted for 85% of the U.K. classified directories advertising revenues, we assume it would keep the market growth rate of 5.5%, above 2001 yoy data 4.9% in 2001 but below the 1996-1999 industry data