Study Guides (248,418)
Canada (121,550)
QMS 102 (91)
Midterm

REVIEW-TEST 2(ANS).doc

7 Pages
190 Views
Unlock Document

Department
Quantitative Methods
Course
QMS 102
Professor
Changping Wang
Semester
Winter

Description
Business Statistics I QMS102 - Test 2 REVIEW PROBLEMS Question 1 Table 2- Household expenditures, by selected metropolitan area (Halifax, Saint John) 2007 Halifax Saint John Expenditures per household Expenditures per household $ $ Food 7,198 7,073 Shelter 13,337 11,745 Household Operation 3,547 3,138 Household furnishing and 2,055 1,541 equipment Clothing 2,936 2,717 Transportation 9,357 10,745 Health care 1,903 2,044 Personal care 1,232 1,011 Recreation 3,989 3,458 Reading materials and other 277 224 printed matter Education 1,605 981 Tobacco products and 1,692 1,471 alcoholic beverages Games of chance (net 232 157 amount) Miscellaneous 1,071 1,007 Personal income taxes 13,848 14,198 Personal insurance 4,236 4,351 payments and pension contributions Gifts of money and 2,446 1,388 contributions Source:Statistics Canada, CANSIM, table (for fee) 203-0001 and Cataogue no. 62F0026MIE Last modified: 2008-12-22 Refer to Table 2 which contains the “Household expenditures, by selected metropolitan area: (Halifax, Saint John)” data that was published by Statistics Canada. Part (I) Assist the statistician to construct a box whisker plot for the data on ``Expenditures per household living in Halifax’’ by computing the following: 1) The mean is 4174.18 . 2) The median is 2446 . 3) The first quartile is 1418.5 . 4) The third quartile is 5717 . 5) The IQR (interquartile range) is 4298.5 . 6) The right inner fence (RIF) is 12164.75 . 7) The right outer fence (ROF) is 18612.5 . 8) The left inner fence (LIF) is -5029.25 . 9) The left outer fence (LOF) is -11477 . 10) The right whisker ends at 9357 . 11) State the value of each outlier: (If there is no outlier, say “none”) 13,337, 13,848 ____________________ . 12) State the value of each extreme: (If there is no extreme, say “none”) None ____________________ . Part (II) a) Based on your answer in part a), would you say that the distribution of the data on the “expenditures per household living in Saint John’’ is skewed left, symmetric, or skewed right? Show all work that leads to your answer. Questions 2 - 5 will be based on the following information. During a normal weekday, customers arrive randomly at a local branch of ScotiaBank in the downtown Toronto at an average rate of 5 per 3 minutes. Question 2 What is the probability that there are 10 customers arriving at this branch during the next 3 minutes? Ans: 0.0181 Question 3 What’s the probability that at least 10 customers arriving at this branch during the next 6 minutes? Ans: 0.5421 Question 4 What’s the probability that no more than 10 customers arriving at this branch during the next 12 minutes? Ans: 0.0108 Question 5 How many customers would you expect during the next hour? Ans: 100 Questions 6 – 9 will be based on the following information. A telephone company has recently performed a detailed analysis of its customers. Some of the results are mentioned below. Thirty (30) percent of the customers prefer to pay their bills by using credit cards. Forty-five (45) percent prefer to pay by cash/debit cards through a local bank, while the remainders prefer to pay by sending a personal cheque. Suppose that at the end of a day, 200 payments have been received. Question 6 What is the probability that more than 50 customers would pay by credit cards? Ans: 0.9305 Question 7 What is the probability that less than 100 customers would pay by cash/debit cards? Ans: 0.9113 Question 8 What is the probability that 60 customers would pay by sending cheques? Ans: 0.017 Question 9 How many customers would you expect that they would pay by cash/debit cards? Ans: 90 Questions 10 - 16 will be based on the following information. A local Wears store has recently performed a detailed analysis of its customers. Some of the results are mentioned below. Of the customers that go shopping in the local Wears store, the average time spent in minutes was 45 for men and 120 for women. The amounts were normally distributed with a standard deviation of 10 and 12 for men and women, respectively. Question 10 What is the probability that a man will spend at most an hour? Ans: 0.9332 Question 11 What is the probability that a woman will spend at least 2 and half hours? Ans: 0.0062 Question 12 What is the probability that a woman will spend less than half an hour? Ans: 0 Question 13 What is the minimum amount (in minutes, rounded to a whole number) of the highest 65% spent by women? Ans: 115 Question 14 What is the maximum amount (in minutes, rounded to a whole number) of the lowest 15% spent by men? Ans: 35 Question 15 Suppose that 20 men have gone shopping in this store. What’s the probability that more than 4 men spent at least 60 minutes? Ans: 0.009 Question 16 Sup
More Less

Related notes for QMS 102

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit