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##### State State State Alabama 13.5 Kentucky 14....

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State State State Alabama 13.5 Kentucky 14.6 North Dakota 8.3 Alaska 12.5 Louisiana 20.5 Ohio 11.9 Arizona 20.4 Maine 13.5 Oklahoma 19.2 Arkansas 17.9 Maryland 15.3 Oregon 12.5 California 20.6 Massachusetts 11.1 Pennsylvania 9.9 Colorado 14.8 Michigan 9.7 Rhode Island 12.9 Connecticut 8.8 Minnesota 8.0 South Carolina 14.6 Delaware 15.7 Mississippi 19.7 South Dakota 9.4 District of Columbia 17.3 Missouri 14.6 Tennessee 14.8 Florida 18.3 Montana 12.7 Texas 24.5 Georgia 17.9 Nebraska 9.0 Utah 11.7 Hawaii 8.9 Nevada 18.7 Vermont 13.2 Idaho 14.0 New Hampshire 10.0 Virginia 13.5 Illinois 11.0 New Jersey 14.2 Washington 12.4 Indiana 12.6 New Mexico 25.6 West Virginia 15.3 Iowa 11.3 New York 15.2 Wisconsin 7.3 Kansas 12.4 North Carolina 14.3 Wyoming 15.9 1. On average, what percentage of the people in the fifty states and the District of Columbia does not have health insurance? Place your answer, rounded to 2 decimal places, in the blank. _____________ 2. Based on the data above, what is the median percentage of people who do not have health insurance in the fifty states and the District of Columbia? Place your answer, rounded to 2 decimal places, in the blank. ____________ 3. Find the standard deviation of the percentage of people in the fifty states and the District of Columbia who do not have health insurance. Place your answer, rounded to 2 decimal places, in the blank. ____________ 4. The distribution of the data given in the table above is A. Normally distributed B. Positively Skewed C. Negatively Skewed D. Binomially distributed 5. An urn contains 12 balls identical in every respect except their color. There are 3 red balls, 7 green balls, and 2 blue balls. You draw two balls from the urn, but replace the first ball before drawing the second. Find the probability that the first ball drawn is red and the second ball drawn is green. Place your answer, rounded to 4 decimal places, in the blank. ________ 6. Ann is applying for a bank loan to open a pizza franchise. She must first complete a written application and then, if the written application is approved, be interviewed by bank officers. If an applicant?s written application is not approved the applicant is not granted an interview with the bank officers. Past records for this bank show that the probability of an applicant having his or her written application approved is 0.63. Records also indicate that the interviewing committee of bank officers approves 85% of the individuals they interview. Find the probability that Ann?s loan request is approved. Place your answer, rounded to 2 decimal places, in the blank. ________ 7. A restaurant menu has a price-fixed complete dinner that consists of an appetizer, entr?e, beverage, and dessert. You have a choice of five appetizers, ten entrees, three beverages, and six desserts. How many possible complete dinners are possible? Place your answer, as whole number?no decimal places?in the blank. _________ 8. The Big Triple at the local racetrack consists of picking the correct order of finish of the first three horses in the ninth race. If there are 12 horses entered in today?s ninth race, how many Big Triple outcomes are possible? Place your answer, as whole number?no decimal places?in the blank. _________ In February 2002 the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products. According to a survey conducted by AC Nielsen in April 2002, 68% of the consumers in Argentina were buying fewer products than before the devaluation, 24% were buying the same number of products, and 8% were buying more products. Furthermore, in a trend toward purchasing less-expensive brands, 88% indicated that they had changed the brands they purchased. Suppose the following complete set of results were reported. Use the following data to answer questions 9 through 12. Number of Products Purchased Brands Purchased Fewer Same More Total Same 10 14 24 48 Changed 262 82 8 352 Total 272 96 32 400 9. What is the probability that a consumer selected at random purchased fewer products than before? Place your answer, rounded to 4 decimal places, in the blank. ________ 10. What is the probability that a consumer selected at random purchased the same number or more products than before? Place your answer, rounded to 4 decimal places, in the blank. ________ 11. What is the probability that a consumer selected at random purchased fewer products than before and changed brands? Place your answer, rounded to 4 decimal places, in the blank. ________ 12. Given that a consumer changed the brands, what then is the probability that the consumer purchased fewer products than before? Place your answer, rounded to 4 decimal places, in the blank. ________ 13. Suppose that the probability that a new medication will cause a bad side effect is 0.03. If this medication is given to 150 people, what is the probability that exactly three of them will experience a bad side effect? Place your answer, rounded to 4 decimal places, in the blank. _______ 14. Suppose that the probability that a new medication will cause a bad side effect is 0.03. If this medication is given to 150 people, what is the probability that more than three of them will experience a bad side effect? Place your answer, rounded to 4 decimal places, in the blank. _______ 15. The average hourly wage of workers at a fast food restaurant is $6.50/hr with a standard deviation of $0.45. Assume that the distribution is normally distributed. If a worker at this fast food restaurant is selected at random, what is the probability that the worker earns more than $6.75? Place your answer, rounded to 4 decimal places, in the blank. ________ 16. It has been observed that electrical connectors manufactured by Jolt Electrical Supply Company last an average of 18.2 months and follow a normal distribution with a standard deviation of 1.7 months. Jolt agrees to replace any connector that fails within 19 months. Out of 500 connectors sold, how many does Jolt expect to replace, on average? Place your answer, rounded to the nearest whole number, in the blank. ______ 17. The length of time to complete a door assembly on an automobile factory assembly line is normally distributed with mean 6.7 minutes and standard deviation 2.2 minutes. For a door selected at random, what is the probability the assembly line time will be between 5 and 10 minutes? Place your answer, rounded to 4 decimal places, in the blank. _______ 18. The manufacturer of a new compact car claims the miles per gallon (mpg) for the gasoline consumption is mound shaped and symmetric with a mean of 25.9 mpg and a standard deviation of 9.5 mpg. If 30 such cars are tested, what is the probability the average mpg achieved by these 30 cars will be greater than 28? Place your answer, rounded to 4 decimal places, in the blank. _______ The annual returns, in percentages, on stocks A and B for three possible states of the economy are given in the table below. Economy State Probability StockA StockB Good 0.5 40 20 Average 0.3 20 40 Bad 0.2 10 8 19. If one invested in StockA, what would be the expected annual percentage return? Place your answer, in percent, in the blank. For example, an expected 10 percent return would be recorded as 10. Do not use a percent sign. _______ 20. If one invested in StockA, what would be the standard deviation of the percentage return? Place your answer, in percent rounded to 1 decimal place, in the blank. For example, a standard deviation of 10.39 percent would be reported as 10.4. Do not use a percent sign. _________

Paper#11429 | Written in 18-Jul-2015

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