Math 533 Final Exam (Set 2)

MATH 533 Final Exam (Set 2)

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1. (TCO A)Seventeen salespeople reported the following number of sales calls completed last month

a. Compute the mean, median, mode, and standard deviation, Q1, Q3, Min, and Max for the above sample data on number of sales calls per month

b. In the context of this situation, interpret the Median, Q1, and Q3

2. (TCO B) Cedar Home Furnishings has collected data on their customers in terms of whether they reside in an urban location or a suburban location, as well as rating the customers as either “good,” “borderline,” or “poor.” The data is below.

If you choose a customer at random, then find the probability that the customer

a. is considered “borderline.”

b. is considered “good” and resides in an urban location

c. is suburban, given that customer is considered “poor.”

3. (TCO B)Historically, 70% of your customers at Rodale Emporium pay for their purchases using credit cards. In a sample of 20 customers, find the probability that

a. exactly 14 customers will pay for their purchases using credit cards

b. at least 10 customers will pay for their purchases using credit cards

c. at most 12 customers will pay for their purchases using credit cards

4. (TCO B) The demand for gasoline at a local service station is normally distributed with a mean of 27,009 gallons per day and a standard deviation of 4,530 gallons per day.

a. Find the probability that the demand for gasoline exceeds 22,000 gallons for a given day

b. Find the probability that the demand for gasoline falls between 20,000 and 23,000 gallons for a given day

c. How many gallons of gasoline should be on hand at the beginning of each day so that we can meet the demand 90% of the time (i.e., the station stands a 10% chance of running out of gasoline for that day)?

5. (TCO C) An operations analyst from an airline company has been asked to develop a fairly accurate estimate of

the mean...