MBA 613 Business Principles II Week 7 Final Exam Questions and Answers
The incubation time for Rhode Island Red chicks is normally distributed with mean of 22days
and standard deviation of approximately 3 days. If 1000 eggs are being incubated, how many
chicks do we expect will hatch in 19 to 28 days? - Answers 819 chicks
Find the area under the standard normal curve over the interval specified below.Between z = -2
and z = 1.2 - Answers 0.862
Suppose that more than a decade ago high levels of lead in the blood put 82% of children at risk.
A concerted effort was made to remove lead from the environment. Suppose, according to a
survey, only 9% of children in the United States are at risk of high blood-lead levels. In a random
sample of 100 children taken more than a decade ago, what is the probability that 70 or more
had high blood-lead levels? - Answers 1.000
John runs a computer software store. He counted 120 people who walked by his store in aday,
50 of whom came into the store. Of the 50, only 21 bought something in the store.Estimate the
probability that a person who walks by the store will come in and buysomething. Round your
answer to the nearest hundredth. - Answers 0.18
Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable
representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a
random variable representing annual return for the Vanguard Balanced Index (60% stock and
40% bond). For the past several years, assume the following data. Compute .
x:
15
0
38
24
31
26
27
-15
-15
-24
y:
, 10
-3
27
18
25
18
18
-3
-4
-10 - Answers 2,560
Seven wires (all with different colors) need to be attached to a circuit board. A robotic device
will attach the wires. The wires can be attached in any order, and the production manager
wishes to determine which order would be fastest for the robot to use. Use the multiplication
rule of counting to determine the number of possible sequences of assembly that must be
tested. - Answers 5,040
Assuming the outcomes are all equally likely, what is the probability that you will get exactly two
heads when you toss a coin three times? - Answers 0.38
Identify the sampling technique used in the following information.An important part of
employee compensation is a benefits package that might include health insurance, life
insurance, child care, vacation days, retirement plan, parental leave, bonuses,etc. Suppose you
want to conduct a survey of benefits packages available in private businesses in Hawaii. You
want a sample size of 100. Sampling technique used to get the sample size of 100 is described
below.Assign each business in the Island Business Directory a number, and then use a random-
number table to select the business to be included in the sample. - Answers Simple random
sample
Suppose that x has a distribution with μ = 23 and σ = 7. If a random sample is taken of size n =
39, find . - Answers 1.12
Identify the implied population in the information below.Government agencies carefully monitor
water quality and its effect on wetlands (Reference: Environment Protection Agency Wetland
Report EPA 832-R-93-005). Of particular concern is the concentration of nitrogen in water
draining from fertilized lands. Too much nitrogen can kill fish and wildlife. Twenty-eight samples
of water were taken at random from a lake. The nitrogen concentration(milligrams of nitrogen
per liter of water) was determined for each sample. The variable in this information is nitrogen
The incubation time for Rhode Island Red chicks is normally distributed with mean of 22days
and standard deviation of approximately 3 days. If 1000 eggs are being incubated, how many
chicks do we expect will hatch in 19 to 28 days? - Answers 819 chicks
Find the area under the standard normal curve over the interval specified below.Between z = -2
and z = 1.2 - Answers 0.862
Suppose that more than a decade ago high levels of lead in the blood put 82% of children at risk.
A concerted effort was made to remove lead from the environment. Suppose, according to a
survey, only 9% of children in the United States are at risk of high blood-lead levels. In a random
sample of 100 children taken more than a decade ago, what is the probability that 70 or more
had high blood-lead levels? - Answers 1.000
John runs a computer software store. He counted 120 people who walked by his store in aday,
50 of whom came into the store. Of the 50, only 21 bought something in the store.Estimate the
probability that a person who walks by the store will come in and buysomething. Round your
answer to the nearest hundredth. - Answers 0.18
Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable
representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a
random variable representing annual return for the Vanguard Balanced Index (60% stock and
40% bond). For the past several years, assume the following data. Compute .
x:
15
0
38
24
31
26
27
-15
-15
-24
y:
, 10
-3
27
18
25
18
18
-3
-4
-10 - Answers 2,560
Seven wires (all with different colors) need to be attached to a circuit board. A robotic device
will attach the wires. The wires can be attached in any order, and the production manager
wishes to determine which order would be fastest for the robot to use. Use the multiplication
rule of counting to determine the number of possible sequences of assembly that must be
tested. - Answers 5,040
Assuming the outcomes are all equally likely, what is the probability that you will get exactly two
heads when you toss a coin three times? - Answers 0.38
Identify the sampling technique used in the following information.An important part of
employee compensation is a benefits package that might include health insurance, life
insurance, child care, vacation days, retirement plan, parental leave, bonuses,etc. Suppose you
want to conduct a survey of benefits packages available in private businesses in Hawaii. You
want a sample size of 100. Sampling technique used to get the sample size of 100 is described
below.Assign each business in the Island Business Directory a number, and then use a random-
number table to select the business to be included in the sample. - Answers Simple random
sample
Suppose that x has a distribution with μ = 23 and σ = 7. If a random sample is taken of size n =
39, find . - Answers 1.12
Identify the implied population in the information below.Government agencies carefully monitor
water quality and its effect on wetlands (Reference: Environment Protection Agency Wetland
Report EPA 832-R-93-005). Of particular concern is the concentration of nitrogen in water
draining from fertilized lands. Too much nitrogen can kill fish and wildlife. Twenty-eight samples
of water were taken at random from a lake. The nitrogen concentration(milligrams of nitrogen
per liter of water) was determined for each sample. The variable in this information is nitrogen
