QMB 3200 EXAM 2 FSU BLISS

QMB 3200 EXAM 2 FSU BLISS

➢ Suppose the average driving distance for last year's Masters Golf
Tournament was 282.5 yards with a standard deviation of 12.2 yards. A
random sample of 30 drives was selected from a total of 4,144 drives
that were hit during this tournament. What is the probability that the
sample average was 279 yards or less?
➢ 0.0574
➢ 0.2676
➢ 0.1611

➢ 0.0581 - CORRECT REPLY>>> -.0581

➢ Recently, FHA mortgages, which are insured by the federal government,
accounted for 28% of all home-purchase mortgages that were approved.
A random sample of 150 mortgage applications was selected. What is
the probability that 48 or more from this sample were insured by the
FHA?
➢ 0.1376
➢ 0.1915
➢ 0.2291

➢ 0.3974 - CORRECT REPLY>>> -.1376

➢ A key metric in the cell phone industry is average revenue per user
(ARPU) which represents the average dollar amount that a customer
spends per store visit. Recently, AT&T reported their ARPU was $67.81.
Suppose the standard deviation for this population is $18.45. What is the
probability that the ARPU will be between $62 and $66 from a random
sample of 35 customers?
➢ 0.3553

,➢ 0.2496
➢ 0.4470

➢ 0.5619 - CORRECT REPLY>>> -.2496

➢ The sample means for a population that follows the normal distribution
will also be normally distributed, regardless of the size of the samples. -

CORRECT REPLY>>> -true

➢ Photo Bomb is an online company that sells packaging materials for
photographers. Suppose their average order size is $208.19 with a
standard deviation of $53.44. A random sample of 35 customer orders
has been selected. The standard error of the mean for this sample is
________.
➢ $5.11
➢ $7.30
➢ $9.03

➢ $11.35 - CORRECT REPLY>>> -9.03

➢ An Epson inkjet printer ad advertises that the black ink cartridge will
provide enough ink for an average of 245 pages. Assume that this claim
is accurate and that the standard deviation for this population is 15
pages. A random sample of 33 customers was surveyed about the
number of pages they were able to print with their black ink cartridges.
What the probability that the sample mean will be 246 pages or more?
➢ 0.6491
➢ 0.8729
➢ 0.3509

➢ 0.1093 - CORRECT REPLY>>> -.3509

, ➢ The Central Limit Theorem requires
➢ a sample size of at least 30 be used to ensure that the samples means
are normally distributed.
➢ the population be normally distributed to ensure that the samples
means are normally distributed.
➢ the bootstrap method to be used to select the sample.
➢ the resampling technique to be used to select the sample. -

CORRECT REPLY>>> -a sample size of at least 30 be used to
ensure that the samples means are normally distributed.



➢ As the size of the sample increases, the
________________________________.
➢ standard error of the mean becomes smaller
➢ population standard deviation increases
➢ sampling error increases

➢ shape of the sampling distribution becomes wider - CORRECT
REPLY>>> -standard error of the mean becomes smaller

➢ A ________ sample is a sample in which each member of the population
has a known, nonzero, chance of being selected for the sample.
➢ systematic
➢ simple random
➢ probability

➢ convenience - CORRECT REPLY>>> -probability

➢ The Central Limit Theorem (CLT) states that the sample means