Azerbaijan State Oil and Industry University

Program ZU Final/Midterm : Final

(MBA/ BBA/ ZU) :
Course name : Introduction to Instructor’s name : Assoc.prof.Zulfugarova R.Kh.
statistics for business
Student’s name : Group number (BBA ZU-030
/ZU) :
Term (fall, spring): Spring Date of exam :
V1
1. (5 points) A sample of size 5 from a normal population consists of the numbers
1, 2, 3, 4, 5. Construct a 95% symmetric confidence interval for the mean of the population.
2. (6 points) ATMs must be stocked with enough cash to satisfy customers making
withdrawals over an entire weekend. On the other hand, is too much cash is unnecessarily kept in
the ATMs, the bank is forgoing the opportunity of investing the money and earning interest.
Suppose that at a particular branch the expected (i.e., population) average amount of money
withdrawn from ATM machines per customer transaction over the weekend is 160$ with an
expected (i.e., population) standard deviation of 30$. Suppose that a random sample of 36
customer transactions is examined and it is observed that the sample mean withdrawal is $172,
level of significance 0.05.
a) State hypothesis
b) Compute the value of the test statistic.

3. (4 points) For following data

10 3 15 3 9 11 15 8 12 7

a) Find five-number summary b) Create box-plot

4. (6 points) Suppose that we know about a population of a particular breed of cats

having weights that are normally distributed. Furthermore, suppose we know that the mean of the
distribution is 10 pounds and the standard deviation is 2 pounds. Consider the following
questions:
a) Determine what percentage is less than 13 pounds?
b) Determine what percentage is between 6 and 13 pounds?
c) Determine what percentage is more than 6?

5. (4 points) There are 800 students in the School of Business Administration. There
are four majors in the School: Accounting, Finance, Management, and Marketing. The following
shows the number of students in each major.

Major Number of Students

Accounting 240
Finance 160
Management 320
Marketing   80
Develop a percent frequency distribution and construct a bar chart and a pie chart