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Statistics and Probability
A bakery has 3 special cakes at the beginning of the day. The daily demand for this type
of cake is
0 with probability 0.10
1 with probability 0.25
2 with probability 0.30
3 with probability 0.20
4 with probability 0.10
5 or more with a probability of 0.05
Let X denotes the number of cakes that remain unsold at the end of the day. Determine
the probability distribution of X.
of cake is
0 with probability 0.10
1 with probability 0.25
2 with probability 0.30
3 with probability 0.20
4 with probability 0.10
5 or more with a probability of 0.05
Let X denotes the number of cakes that remain unsold at the end of the day. Determine
the probability distribution of X.
Statistics and Probability
TRUE OR FALSE
6. The z test formula uses the sample standard deviation while the
t test formula uses the population standard deviation.
7. The critical t value(s) does not depend on the degrees of freedom
associated with the t test value.
8. A type I error occurs when a researcher unknowingly obtains an
extreme non-representative example.
9. The null hypothesis should be rejected if the critical value is – 2.4,
α = 0.01, and the test is left-tailed.
10.Given (101, 120) as the confidence interval for the population mean
μ with a confidence level of 95% indicates that there is a 95% chance
that the population mean lies between 101 and 120.
6. The z test formula uses the sample standard deviation while the
t test formula uses the population standard deviation.
7. The critical t value(s) does not depend on the degrees of freedom
associated with the t test value.
8. A type I error occurs when a researcher unknowingly obtains an
extreme non-representative example.
9. The null hypothesis should be rejected if the critical value is – 2.4,
α = 0.01, and the test is left-tailed.
10.Given (101, 120) as the confidence interval for the population mean
μ with a confidence level of 95% indicates that there is a 95% chance
that the population mean lies between 101 and 120.
Statistics and Probability
TRUE OR FALSE
1.The researcher can only make one claim on either the null hypothesis
or the alternative hypothesis in the traditional method of hypothesis
testing.
2. If the sample value fall in the critical region, the null hypothesis is
rejected.
3. A confidence interval is a range of values used to estimate the true
value of a population parameter.
4. If a sample mean is in the critical region with α = 0.05, it would
still be in the critical region even if the alpha was changed to
α = 0.01.
5. If a researcher obtains a test score of z = 2.43 for a hypothesis test
using α = 0.01, then the researcher should reject the null hypothesis
for a right-tailed test, however, the researcher should not reject the
null hypothesis for a two-tailed test.
1.The researcher can only make one claim on either the null hypothesis
or the alternative hypothesis in the traditional method of hypothesis
testing.
2. If the sample value fall in the critical region, the null hypothesis is
rejected.
3. A confidence interval is a range of values used to estimate the true
value of a population parameter.
4. If a sample mean is in the critical region with α = 0.05, it would
still be in the critical region even if the alpha was changed to
α = 0.01.
5. If a researcher obtains a test score of z = 2.43 for a hypothesis test
using α = 0.01, then the researcher should reject the null hypothesis
for a right-tailed test, however, the researcher should not reject the
null hypothesis for a two-tailed test.
Statistics and Probability
Business Condition Probability Investment
X Fund Y Fund
Recession 0.50 120 200
Stable 0.30 100 150
Depression 0.20 250 100
1. Find out the expected value, standard deviation and coefficient variation of each investment.
2. Compute correlation between the two investments.
3. Give some managerial implications of this problem.
X Fund Y Fund
Recession 0.50 120 200
Stable 0.30 100 150
Depression 0.20 250 100
1. Find out the expected value, standard deviation and coefficient variation of each investment.
2. Compute correlation between the two investments.
3. Give some managerial implications of this problem.
Statistics and Probability
“Chief Grill” is a local restaurant, its annual data shows that the average sale of chicken steaks is 1200 serving per month with a standard deviation of 102. If the data is normally distributed; calculate the probability of sale of chicken steaks in the next month will be:
1) less than 1000 but not less than 1350
1) less than 1000 but not less than 1350
Statistics and Probability
A number is selected randomly from a container containing all the integers from 5 to 35. find P(odd | greater than 20)
Statistics and Probability
On the basis of the previous record, an average of 4 accidents in one day occur on the superhighway during peak rush timings. Calculate the following if possible. If any part of question (you feel) is not possible to calculate give reason:
a. Evaluate the probability that on any Particular day there will be fewer than 3 accidents on this superhighway during the peak rush timings.
b. Compute the probability that on any Particular day there will be more than 6 accidents on this Super highway during the peak rush timings.
c. Find the Expected number of accidents per day and variance.
a. Evaluate the probability that on any Particular day there will be fewer than 3 accidents on this superhighway during the peak rush timings.
b. Compute the probability that on any Particular day there will be more than 6 accidents on this Super highway during the peak rush timings.
c. Find the Expected number of accidents per day and variance.
Statistics and Probability
Assume that a real estate manager has 5 contacts per week, and she believes that for each contact the probability of making a sale is 0.30. Calculate the following if possible. If any part of question (you feel) is not possible to calculate give reason:
a. Develop the probability distribution table for sale
b. Calculate the expected number of sales per week and variance of sale
c. Find the probability that she makes at most 2 sales.
d. Find the probability that she makes between 3 and 6 sales (both inclusive).
a. Develop the probability distribution table for sale
b. Calculate the expected number of sales per week and variance of sale
c. Find the probability that she makes at most 2 sales.
d. Find the probability that she makes between 3 and 6 sales (both inclusive).
Statistics and Probability
What type of measure scale is being used? Nominal, Ordinal, Interval or Ratio.
Karachi daily temperature in Fahrenheit for past seven days: 60, 80, 75, 79, 82,90,65.
College hockey team players categorized by their physical capability: Exceptional, Normal, Weak.
The years 2052, 1381, 1604, 1832, 1403.
National ID card numbers.
Revenue recorded in rupees.
A questionnaire to assess customer experience of XYZ.com by number: 1 Extremely Satisfied, 2 Neither Satisfied nor Dissatisfied, 3 Extremely Dissatisfied.
Time on a wall clock.
The width of a picture frame in inches.
The 12 colors of pencils in a color pencil box
Karachi daily temperature in Fahrenheit for past seven days: 60, 80, 75, 79, 82,90,65.
College hockey team players categorized by their physical capability: Exceptional, Normal, Weak.
The years 2052, 1381, 1604, 1832, 1403.
National ID card numbers.
Revenue recorded in rupees.
A questionnaire to assess customer experience of XYZ.com by number: 1 Extremely Satisfied, 2 Neither Satisfied nor Dissatisfied, 3 Extremely Dissatisfied.
Time on a wall clock.
The width of a picture frame in inches.
The 12 colors of pencils in a color pencil box
Statistics and Probability
Compute the average for the observations 7, 5, 8, 10, 11, 6, 3, 10, 9, 13
a.8.199999999999999
b.8.699999999999999
c.8
d.8.5
a.8.199999999999999
b.8.699999999999999
c.8
d.8.5
