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Final Exam Practice 1 - đề thi thực môn XSTK

xác suất thống kê (Trường Đại học Ngoại thương)

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Final Exam Practice

The following applies to the next two questions:

As risk management officer at your firm, you are in charge of analyzing the data on
personal injury claims filed against your firm. Some summary statistics for a random
sample of the costs of 100 claims filed in the recent past are below.

Mean = $1,040.47 1st Quartile = $989.72

Median = $1,039.71 3rd Quartile = $1,088.18
Standard deviation = $89.50

1. Which statement is correct?

E a) Half of the costs are less the $1,040.47.

b) The middle 50% of the costs are between $989.72 and $1,088.18.
c) One-quarter of the costs are greater than $1,040.47.
d) At least 89% of the costs are between $771.97 and $1,308.97.
e) Both (b) and (d).

2. Outliers in this data set, if they exist, would be outside which of the following
intervals?

a) $842.03 to $1,235.87
b) $843.95 to $1,201.02
c) $891.26 to $1,186.64
d) $977.33 to $1,189.99
e) $989.72 to $1,088.18

3. A fast food restaurant sells three types of hamburgers. The plain burger costs
$0.79; the deluxe burger sells for $1.59 and the super-deluxe sells for $2.25.
Studies have shown that 10% of sales are plain burgers; 60% of sales are deluxe
burgers; and 30% are super-deluxe burgers. Let X represent the amount paid for a
randomly selected burger. The expected value of X is closest to?

a) $1.34.
b) $1.60.
c) $1.64.
d) $1.71.
e) $1.99.

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4. Barings bank has recently begun a much publicized credit card program where
customers who meet certain credit requirements can obtain their new gold card.
Past numbers show that 35% of all applicants for this card are rejected. Out of 10
applicants, what is the probability that exactly 4 will be rejected, assuming that
rejections for the card are independent?

a) 0.2377
b) 0.1757
c) 0.2438
d) 0.3141
e) 0.2522

5. The standardized z value:

a) measures distance from the mean in units of the standard deviation.

b) applies to any binomial distribution.
c) may not have negative values.
d) Both (a) and (c) are correct.
e) None of the above is correct.

The following applies to the next two questions:

Air Weego is a commuter airline that serves the West Coast. The time interval from
the time their planes begin to load passengers to the time of takeoff has been found to
be normally distributed with a mean of 22 minutes and a standard deviation of 5
minutes.

6. What is the probability that a plane will take off in less than 15 minutes from the
time it starts loading passengers?

a) 0.0548
b) 0.4452
c) 0.4192
d) 0.0808
e) 0.9192

7. After how long from the time the plane starts loading passengers would we expect
90% of the planes to have taken off?

a) 27.20 minutes
b) 15.60 minutes
c) 25.35 minutes
d) 28.40 minutes
e) 30.23 minutes

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8. Two events, A and B, are such that P(A) = 0.3 and P(AB) = 0.7. Given that A
and B are mutually exclusive, what is P(B)?

a) 0.20
b) 0.25
c) 0.30
d) 0.40
e) 0.50

The following applies to the next two questions:

A large Russian airport hired a statistician to research various problems that the airport
had been having. His studies revealed that, given that a flight was late, the probability
of some luggage going missing from that flight is 0.4. Also, given that a flight was
not late, the probability of some luggage going missing from that flight is 0.2. He also
found out that the probability of a flight being late is 0.6.

9. What is the probability that some luggage will go missing on any randomly chosen
flight?

a) 0.24
b) 0.32
c) 0.40
d) 0.68
e) 0.75

10. Given that some of luggage has gone missing, what is the probability that the
luggage was on a late flight?

a) 0.24
b) 0.32
c) 0.40
d) 0.68
e) 0.75

11. For events A and B, P(A) = 0.35, P(B) = 0.80 and P(AB) = 0.87. Events A and
B are:

a) independent.
b) mutually exclusive.
c) complementary.
d) All of the above.
e) None of the above.

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The following refers to the next two questions:

The number of TV viewing hours per household per week in the US is known to have a
mean of 33 hours and a standard deviation of 15 hours. A sample of size 100 is taken
from this population.

12. What is the standard error of the mean?

a) 1.5
b) 3.3
c) 15
d) 29.4
e) 33

13. What is the probability that the sample mean will be greater than 36 hours?

a) 0.0228
b) 0.0359
c) 0.4641
d) 0.4772
e) 0.9772

14. A type I error is always made when:

a) the null hypothesis is rejected when it is true.

b) the null hypothesis is not rejected when it is true.
c) the alternative hypothesis is not rejected when it is false.

15. Suppose you knew the true mean sale price of all homes in the neighborhood to be
$65,700 with a standard deviation of $13,250. Suppose also that you draw a random
sample of n = 45 homes and construct a 92% confidence interval. Suppose you
repeat this process a total of 50 times (draw a random sample of 45 homes and
construct a 92% confidence interval each time). How many of the intervals would
you expect to contain the true mean sale price of $65,700?

a) approximately half
b) 92
c) 41.4
d) 46
e) cannot not be determined from the information given

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The following refers to the next three questions:

A sample of size n = 80 was taken from a population to test the following hypotheses:
H0:  = 50 vs. H1:   50. The mean of the sample was 54 and the standard deviation
was 20.

16. What is the value of the test statistic?

a) 1.358
b) 1.645
c) 1.789
d) 1.840
e) 1.96

17. What is the p-value?

a) 0.0329
b) 0.0367
c) 0.0500
d) 0.0658
e) 0.0734

18. If we use a significance level of 5%, what is our conclusion?

a) Reject H0. There is sufficient evidence to conclude that the mean is different from
50.
b) Do not reject H0. There is sufficient evidence to conclude that the mean is
different from 50.
c) Reject H0. There is insufficient evidence to conclude that the mean is different
from 50.
d) Do not reject H0. There is insufficient evidence to conclude that the mean is
different from 50.

19. The standard error of the mean for a sample size of two or more is:

a) always greater than the standard deviation of the population.

b) usually greater than the standard deviation of the population.
c) usually less than the standard deviation of the population.
d) always less than the standard deviation of the population.

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The following refers to the next three questions:

The National Association of Left Handed Persons (NALHP) believes that left handed
people tend to be smarter than the general population. To test this they give the SAT to a
random sample of 10 left handed people and find the mean score of these 10 left handed
people was 1120 with a standard deviation of 125. They want to know if left handed
people will score higher than the general population (whose average score is 1000). The
scores on the SAT are normally distributed.

20. The value of the standardized test statistic is closest to:

a) 3.04.
b) 0.96.
c) 3.84.
d) 3.16.
e) 2.87.

21. The p-value is closest to:

a) 0.0012.
b) 0.0024.
c) 0.005 < p-value < 0.010.
d) 0.010 < p-value < 0.020.
e) 0.001 < p-value < 0.005.

22. For which of the following levels of significance can you reject the null hypothesis?

(i)  = 0.001 (ii)  = 0.010 (iii)  = 0.020 (iv)  = 0.005

a) iii. only
b) i. only
c) ii, iii and iv only
d) ii and iii only
e) all values listed

23. A research firm has been asked to determine the proportion of all restaurants in the
state of Ohio that serve alcoholic beverages. The firm wants to be 98% confidence of
its results but has no idea of what the actual proportion is. The firm would like to
report an error of no more than .05. How large a sample should it take?

a) 6
b) 20
c) 24
d) 385
e) 543

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The following refers to the next three questions:

In 1996, it was estimated that about 72 percent of all US households were cable TV
subscribers. Newstime magazine’s editors were sure that their readers subscribed to cable
TV at a higher rate than the general population and wanted to use this fact to sell
advertising space for premium cable channels. To verify this, they sampled 250 of
Newstime’s subscribers and found that 194 subscribed to cable TV. Test the editor’s
claim at a significance level of 2%.

24. The null and alternative hypothesis are best given by:

a) H0: p ≤ .72 vs H1: p > .72.

b) H0: p̂ ≤ .72 vs H1: p̂ > .72.
c) H0: p ≤ .776 vs H1: p > .776.
d) H0: p̂ ≤ .776 vs H1: p̂ > .776.
e) H0: p̂ ≥ .776 vs H1: p̂ < .776.

25. What is the test statistic?

a) 1.972
b) 2.643
c) -1.972
d) -2.643
e) 2.127

26. The appropriate conclusion is best given by which of the following?

a) There is sufficient evidence to conclude that the actual proportion of Newsletter

readers that subscribe to cable TV is higher than that in the general population.
b) There is sufficient evidence to conclude that the actual proportion of Newstime
readers that subscribe to cable TV is lower than that in the general proportion.
c) There is insufficient evidence to conclude that the actual proportion of Newstime
readers that subscribe to cable TV is lower than that in the general population.
d) There is insufficient evidence to conclude that the actual proportion of Newstime
readers that subscribe to cable TV is higher than that in the general population.

27. Assume the standard deviation of the heights of all five-year-old boys is 3.5 inches.
How many five-year-old boys need to be sampled if we want to be 90% sure that the
population mean height is estimated correctly to within 0.5 inches?

a) 12
b) 111
c) 127
d) 133
e) 144

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28. 87 people out of a random sample of 300 people who listen to the radio in your city
during rush hour said that they listen to KSTT during rush hour. Find a 90%
confidence interval for the proportion of the city’s rush hour listeners that listen to
KSTT.

a) (0.26, 0.32)
b) (0.27, 0.31)
c) (0.25, 0.33)
d) This sample cannot be considered large, so procedures discussed in class do not
apply.

The following refers to the next two questions:

A real estate agent would like to predict the selling price of single-family homes. After
careful consideration, he concludes that the variable likely to be most closely related to
the selling price is the size of the house. As an experiment, he takes a random sample of
15 recently sold houses and records the selling price (y, in thousands of dollars) and the
size (x, in 100ft2) of each. The results obtained are summarized below. (The x variable
ranges from 12 to 28.)

∑x = 272.6, ∑y = 1332.6, Sxx=268.19, Syy = 6230.24, Sxy = 1040.18

29. What is the equation of the least squares line?

a) ŷ = 11.49 + 4.55x
b) ŷ = 14.82 + 4.26x
c) ŷ = 17.20 + 3.98x
d) ŷ = 18.35 + 3.88x
e) ŷ = 20.12 + 3.65x

30. What is the point estimate of the selling price (in thousands of dollars) when x is 23?

a) 104.07
b) 107.59
c) 108.74
d) 112.80
e) 116.14

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