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MATH 533 Applied Managerial Statistics Final Exam Set 3

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Question;MATH 533 Applied Managerial StatisticsFinal Exam Set 3The length of time to do a cable installation by Multi-Cable Inc. is normally distributed with a mean of 42.8 minutes and a standard deviation of 6.2 minutes. What percentage of installations take less than 30 minutes?Accident claims are checked for completeness by branch offices of Fortune Insurance before they are sent to a regional office for payment. Historically 80% of the claims are complete when they reach the regional office. You select a random sample of 20 claims that have arrived at the regional office. Find the probability that:........Until this year the mean braking distance of a Nikton automobile moving at 60 miles per hour was 175 feet. Nikton engineers have developed what they consider a better braking system. They test the new brake system on a random sample of 81 cars and determine the sample mean braking distance. The results are:.......The manager at Trion Electric Co-op is concerned about the rise in the number of late payments. If more than 10% of the accounts are behind in their payments, the manager will initiate a costly monitoring program. A random sample of 75 accounts shows that 9 were behind in their payments.A manufacturer of athletic footwear claims that the mean life of his product will exceed 50 hours. A random sample of 36 pairs of shoes leads to the following results in terms of useful life:......AJ AUCTION sells art drawings of little known artist at auction. The dealer is interested in the relationship between the final sale price ($) (Y) and the number of persons bidding on the drawing (X). A random sample of 20 drawing is selected.......The personnel department of a large industrial corporation would like to develop a model to predict the weekly salary based upon the length of employment and age of its managerial employees. Salary is modeled as a linear function of length of employment and age........

 

Paper#60236 | Written in 18-Jul-2015

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