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BUAL 2650 FINAL EXAM AUBURN JEONG QUESTIONS AND CORRECT ANSWERS

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BUAL 2650 FINAL EXAM AUBURN JEONG QUESTIONS AND CORRECT ANSWERS

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BUAL 2650
Course
BUAL 2650

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What is the probability that a standard normal random variable will be between −2
and 2?


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.9544




Neter, Kutner, Nachtsheim, and Waswwerman (1996) relate the speed, 𝑦, with which
aparticular insurance innovation is adopted to the size of the insurance firm, 𝑥, and the
type offirm. The dependent variable 𝑦 is measured by the number of months elapsed
between the timethe first firm adopted the innovation and the time the firm being
considered adopted theinnovation. The size of the firm, 𝑥, is measured by the total
assets of the firm, and the type offirm (a dummy variable), 𝐷, is either a mutual
company (𝐷 = 1) or a stock company (𝐷 = 0).Given the model below, interpret the
practical meaning of 𝛽2.𝑦 = 𝛽0 + 𝛽1𝑥 + 𝛽2𝐷 + 𝑒


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, 𝛽2 shows the average difference in the speed between mutual and stock
companies.




The flying time of a drone airplane has a normal distribution with mean 4.76 hours
andstandard deviation of .04 hours. What is the probability that the drone will fly more
than 4.80hours?


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.1587




When a confidence interval for a population proportion is constructed for a sample
size n= 30 and the value of 𝑝 = 0.4, the interval is based on


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the z distribution.




If the random variable x is normally distributed, ______ percent of all possible observed
values of x will be within three standard deviations of the mean


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99.73




When sample size is 20, find t.001.

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3.579df = 20 − 1 = 19. Read off the t table.




In testing the difference between the means of two independent populations, the
variances of the two samples can be pooled if the population variances are assumed
to ________.


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be equal




A random sample of size 36 is taken from a population with a mean of 50 and a
standard deviation of 5. The sampling distribution of 𝑥 ________.


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is approximately normal




Using the p-value rule, if a null hypothesis is not rejected at a significance level of .05,
it will ________ be rejected at a significance level of .01.


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never

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