4th tutorial test - sample

 
Exercise 1. The annual salaries of employees in a large company are approximatly normally distributed with a
mean of $50000 and a standard deviation of $20000.
a) What percent of people earn less than $40000?
b) What percent of people earn between $45,000 and $65,000?
c) How much would you have to earn to be among 10% of emplyees with the highest salary?

Exercise 2. A manufacturer claims that the thickness of the spearmint gum it produces is 7.5. A quality control
specialist regularly checks this claim. On one production run, he took a random sample of n = 10 pieces of gum
and measured their thickness. He obtained:

7.65 7.60 7.65 7.70 7.55

7.55 7.40 7.40 7.50 7.50
Is there statistical evidence that the thickness of the spearmint gum it produces is different from 7.5? Set 0.05
significance level.

Exercise 3. The deals cracked by an agent per day is a random Poisson variable with mean 2. Given that each
day is independent of other day, find the probability of

a) getting 2 deals cracked in a day

b) getting 10 deals cracked over the period of 5 days
c) getting at least 2 deals cracked in a day

Exercise 4. The proportions of blood types O, A, B and AB in the general population of a particular country are
known to be in the ratio 49:38:9:4, respectively. A research team, investigating a small isolated community in
the country, obtained the following frequencies of blood type.

Blood type 0 A B AB

Frequency 87 59 20 4

Test at the 5% significance level the hypothesis that the proportions in this community do not differ from those
in the general population.

Exercise 5. The ABC Company is planning to market a new product. According to the analysis made by the
financial department, it will earn an annual profit of $4 million if this product has high sales, it will earn an
annual profit of $1 million if the sales are mediocre, and it will lose $2 million a year if the sales are low. The
probabilities of these three scenarios are 0.32, 0.51, and 0.17, respectively.

Let the random variable X denote the early profit earned from this product

a) Determine the probability mass function of X.

b) Calculate the mean and standard deviation of X.
c) Find and sketch the graph of the cumulative distribution function of X.