Reference no: EM13937976
Question 1: According to the latest census, 40% of working women held full time jo.
In a sample 10 working women,
(a) What is the expected number of working women held full time jobs?
(b) What is the probability that none of them held full time job?
(c) What is the probability of more than half of them are not working or working part time?
(d) What assumptions do you need to make to find the probability?
In a sample of 100 working women,
(e) What is the probability that more than half of them held full time job? [Hint: use normal approximate and continuity correction]
Question 2: The Australian Bureau of Statistics (ABS) has collected data on the part-time employment patterns of full-time students in Australia and has found the hours worked to be well approximated by a normal distribution with a mean of 15 hours.
(a) If 10% of students work more than 25 hours per week, what is the standard deviation of the number of hours worked by students?
(b) What is the probability that a student chosen at random works between 5 and 25 hours per week?
(c) What is the number of hours worked per week in order to be in the top 20 percentile?
(d) Suppose that student asks all the members of his/her tutorial group how many hours they work and that there are 36 students in the group. What is the probability that the average number of hours worked is between 5 and 25? State clearly any assumptions you make.
(e) Explain whether it is necessary to assume that the distribution of hours worked is normal when calculating part (d)? If the population standard deviation as determined in (a) is not known, what would be the best estimate.
Question 3: The auditor needs to provide a confidence interval for the mean outstanding balance for a company's clients. From past experience, the distribution of outstanding balances is known to have a variance of 25. Assuming the population distribution of outstanding balances is normal,
(a) Find the 95% confidence interval for the mean outstanding balance if the auditor's sample of 65 accounts produced a sample mean of $140? Do you need to assume normality for the population distribution to answer the question? Explain.
(b) Suppose that before the survey is undertaken, the auditor wants to ensure that the 95% confidence interval for the mean outstanding balance that ends up with a total width of no more than 0.5. How many people should the auditor has sought to survey?
|
Either replace or refurbish the elevator system
: You want to either replace or refurbish the elevator system in an office. Referbishing: Refurbishing the elevators will cost $55,000 and extend the life of the elevators another 20 years. Replacing the elevator system will cost $140,000, with an expe..
|
|
Identify plant and animal cell structure and functions
: Cellular Respiration and Photosynthesis co-exist as paired processes. Photosynthesis converts light energy into organic molecules such as carbohydrates. These molecules are picked up and utilized as fuel sources in organisms that employ Cellular R..
|
|
Gradients to determine the position of camera
: Use gradients to determine the position of camera, Report follows correct structure and order: Title, Abstract, Introduction, Results and Discussion, Conclusion, References, Appendix.References correctly used
|
|
Evaluate the risk of excessive use of leverage
: As an investor, how would you use accounting information to evaluate the risk of excessive use of leverage? What additional information would be useful? Explain.
|
|
What is the probability that none of them held full time job
: According to the latest census, 40% of working women held full time jo. In a sample 10 working women, What is the expected number of working women held full time jobs? What is the probability that none of them held full time job
|
|
Expect your portfolio to be worth in total
: Your portfolio is 100 shares of Sunny Morning, Inc. The stock currently sells for $63.69 per share. The company has announced a dividend of $1.35 per share with an ex-dividend date of April 19. Assuming no taxes and no news or other surprises, how mu..
|
|
Why are there so many different colors
: Plants absorb light energy using special molecules called photosynthetic pigments (predominantly chlorophylls). These pigments absorb most of the visible light except for wavelengths in the green part of the spectrum. Consequently, plants appear g..
|
|
Final shares and net asset value
: The Aqua Liquid Assets Money Market Mutual Fund has a NAV of $1 per share. During the year, the assets held by this fund appreciated by 1.2 percent. If you had invested $20,000 in this fund at the start of the year, how many shares would you own at t..
|
|
Rest with constant acceleration
: The truck shown in Figure P-1 moves from rest with constant acceleration ~a up an incline of angle θ. Find the greatest speed v that the truck can acquire in a distance d, if the crate C is not to slip on the truck bed. The coefficient of static f..
|