MATH 533 Final Exm
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1. (TCO A)Consider the following sample data on the age of the 30 employees that were laid off recently from DVC Inc.
21 38 20 26 37 52 37 24 45 20
50 49 44 30 29 42 56 46 60 30
32 25 47 55 38 25 20 29 32 30 a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, and Max for the above sample data on age of employees being laid off.
b. In the context of this situation, interpret…show more content… b. Find the probability that the monthly customer expenditure is between $300 and $600 for a randomly selected customer.
c. The management of a supermarket wants to adopt a new promotional policy giving a free gift to every customer who spends more than a certain amount per month at this supermarket. Management plans to give free gifts to the top 8% of its customers (in terms of their expenditures). How much must a customer spend in a month to qualify for the free gift? (Points : 18)
5. (TCO C) A tool manufacturing company wants to estimate the mean number of bolts produced per hour by a specific machine. A simple random sample of 9 hours of performance by this machine is selected and the number of bolts produced each hour is noted. This leads to the following results. Sample Size = 9
Sample Mean = 62.3 bolts/hr
Sample Standard Deviation = 6.3 bolts/hr
a. Compute the 90% confidence interval for the average number bolts produced per hour.
b. Interpret this interval.
c. How many hours of performance by this machine should be selected in order to be 90% confident of being within 1 bolt/hr of the population mean number of bolts per hour by this specific machine? (Points : 18)
6. (TCO C) A clock company is concerned about errors in assembly in their custom made clocks. A simple random sample of 120 clocks yields nine clocks with errors in assembly. a. Compute the 99% confidence interval for the proportion of clocks with errors in assembly.