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##### 3. (Points: 10) In a given week, a lawyer spe...

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3. (Points: 10) In a given week, a lawyer spends 24 hours preparing for a case, 7 hours actually in court, and 3 hours consulting the client, and 6 hours in depositions. She gets paid $200 per hour for preparation, $240 per hour for hours spent in court, $150 per hour for consultations, and $210 per hour for depositions. What is her average $?s per hour for this week? (please round your answer to 1 decimal place) Answer Save Answer 4. (Points: 10) Suppose the following distribution describes the possible returns from a portfolio in 1 year: there is a 32% chance of the portfolio return being -8%, a 13% chance the portfolio return is 3%, a 15% chance the portfolio return is 9%, and otherwise, the portfolio return will be 16%. What is the expected return on the portfolio? (please express your answer as a percentage and use 2 decimal places) Answer Save Answer 5. (Points: 10) The number of customers at a local Lowe?s store during a given weekend is normally distributed with a mean of 5000 with a standard deviation of 1500. What is the probability that a particular store has at least 7000 customers this weekend? (please round your answer to 4 decimal places) Answer Save Answer 6. (Points: 10) Suppose that an individual stock?s return is normally distributed with a mean of 11.6% and a standard deviation of 3.8%. Suppose that all stocks had the same distribution of returns. What return must a stock have such that it is higher than 90% of all other stocks? (please round your answer to 2 decimal places and express your answer as a percentage) Answer Save Answer 7. (Points: 10) A stock investor would like to have an idea concerning the average return of stocks that are traded on a certain exchange. In a sample of 85 stocks, the average return was 11 percent with a standard deviation of 12 percent. What is the upper bound of the 99% confidence interval? (please express your answer as a PERCENT using 2 decimal places) Answer Save Answer 8. (Points: 10) Historically, the proportion of people who trade in their old car to a car dealer when purchasing a new car is 48%. Over the previous 6 months, in a sample of 115 new-car buyers, 46 have traded in their old car. To determine whether the proportion of new-car buyers that trade in their old car has statistically significantly decreased, what is the null and alternative hypothesis? a. b. c. d. e. f. g. h. i. j. k. l. Save Answer 9. (Points: 10) Historically, the proportion of students entering a university who finished in 4 years or less was 63%. To test whether this proportion has decreased, 122 students were examined and 47% had finished in 4 years or less. To determine whether the proportion of students who finish in 4 year or less has statistically significantly decreased (at the 5% level of signficance), what is the test statistic? (please round your answer to 2 decimal places) Answer Save Answer 10. (Points: 10) In an effort to reduce energy costs, a major university has installed more efficient lights as well as automatic sensors that turn the lights off when no movement is present in a room. Historically, the cost of lighting an average classroom for 1 week has been $265. To determine whether the changes have signficantly reduced costs, the university takes a sample of 95 classrooms. They find that the average cost for 1 week is $246 with a standard deviation of $67. When testing the hypothesis (at the 1% level of significance) that the average energy use has decreased from the past, what is the critical value? (please round your answer to 2 decimal places) Answer Save Answer 11. (Points: 10) Historically, the proportion of students entering a university who finished in 4 years or less was 63%. To test whether this proportion has decreased, 120 students were examined and 52% had finished in 4 years or less. To determine whether the proportion of students who finish in 4 year or less has statistically significantly decreased (at the 5% level of signficance), what is the p-value? (please round your answer to 4 decimal places) Answer Save Answer 12. (Points: 10) In a sample of 90 people who have had strokes, the average cholesterol level was 250 with a standard deviation of 70. In order to test the hypothesis (at the 5% level of significance) that the average cholesterol level of people who have had strokes was at least 240, the p-value is 0.0869. What is your conclusion concerning the null hypothesis? a. Reject the null hypothesis b. Fail to reject the null hypothesis Save Answer 13. (Points: 5) What is the t-value associated with 16 degrees of freedom and 1% in the tail? (please round your answer to 3 decimal places) Answer Save Answer 14. (Points: 10) The number of gallons of paint that Home Depot sells in a given day is normally distributed with a mean of 185 gallons and a standard deviation of 55 gallons (I realize that the distribution is probably different for weekends compared to weekdays, but just assume everyday has the distribution). In a sample of 120 days, what is the probability that the average number of gallons sold will be 193 or less? (please round your answer to 4 decimal places) Answer,Thank you!! I have 13 minutes left on my assignment.,8 minutes!!! Please help!!!!!!!

Paper#11450 | Written in 18-Jul-2015

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