Choose the correct statement with regard to the given distributions: a. Poisson: If mean is u, standard deviation will beu b. Exponential: If mean is u, standard deviation will be c. Standard Normal distribution: If mean is 0, standard deviation will be All of the above Answer A B C D
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- Use Excels functions (not @RISK) to generate 1000 random numbers from a normal distribution with mean 100 and standard deviation 10. Then freeze these random numbers. a. Calculate the mean and standard deviation of these random numbers. Are they approximately what you would expect? b. What fraction of these random numbers are within k standard deviations of the mean? Answer for k = 1; for k = 2; for k = 3. Are the answers close to what they should be (about 68% for k = 1, about 95% for k = 2, and over 99% for k = 3)? c. Create a histogram of the random numbers using about 10 bins of your choice. Does this histogram have approximately the shape you would expect?What is the meaning of x ~ N (50, 20)? 1. Sampling distribution of x is distributed with a mean of 20 and a standard deviation of 50 2. x-bar is normally distributed with a mean of 20 and a standard deviation of 50 3. x is normally distributed with a mean of 50 and a standard deviation of 20 4. Sampling distribution of x is distributed with a mean of 50 and a standard deviation of 20What is the meaning of x ̅ ~ N (50, 2)? 1. The Sampling distribution is distributed normally with a mean of 50 and a standard deviation of 2 2. Sampling distribution of x is distributed normally with a mean of 2 and a standard deviation of 50 3. x is normally distributed with a mean of 50 and a standard deviation of 2 4. x-bar is normally distributed with a mean of 2 and a standard deviation of 50
- 4.1 TYPES OF RANDOM VARIABLES. Which of the following describe continuous random variables? Which describe discrete random variables? The number of newspapers sold by the New York Times each month The amount of ink used in printing a Sunday edition of the New York Times The actual number of ounces in a 1-gallon bottle of laundry detergent The number of defective parts in a shipment of nuts and bolts The number of people collecting unemployment insurance each monthFrom several years’ records, a fish market manager has determined that the weight of deep sea bream sold in the market (X), is approximately normally distributed with a mean of 500 grams and a standard deviation of 100 grams. Assuming this distribution will remain unchanged in the future, the expected proportions of deep sea bream sold over the next year weighing .(i) Between 300 grams and 400 grams is A. 0.1359 B. 0.4681 C. 0.5319 D. None of the options aboveIf n is large and the population standard deviation is unknown, the standard error of the sampling distribution of the sample mean is equal to: the sample standard deviation divided by the sample size. the population standard deviation multiplied by the sample size. the sample standard deviation divided by the square root of the sample size.
- In the context of data patterns in a time series, ___________ is the unexplained deviation of a time series from a predictable pattern: Select one: a. inexplicable variation b. regular variation c. random variation d. seasonal variation e. irregular variationBill Kime's bowling ball factory makes bowling balls of adult size and weight only. The standard deviation in the weight of a bowling ball produced at the factory is known to be 0.39 pounds. Each day for 24 days, the average weight, in pounds, of 9 of the bowling balls produced that day has been assessed as follows Day 1 2 3 4 5 6 Average (lb) 9.9 9.9 10.1 10.1 99 99 Day 7 8 9 10 11 12 Average (lb) Day Average (b) 13 14 15 16 17 18 10.1 10.0 10.0 10.1 10.1 10.0 9.9 10.1 10.1 10.0 10.1 10.1 Day 19 20 21 22 23 24 Average (lb) 99 10.0 10.1 9.9 10.0 10.0 a) Establish a control chart for monitoring the average weights of the bowling balls in which the upper and lower control limits are each two standard deviations from the mean What are the values of the control limits? Upper Control Limit (UCL)=b (Round your response to two decimal places)(29) Please calculate the standard deviation for the following. Please round to 2 decimals (if answer is 10% please answer 10.00) State of nature Eret A B C D 5.50% 8% -2% 3.60% Probability 14% ? 31% 48%
- Which of the following is a probability sampling method? a.Cluster sampling b.Quota sampling c.Snowball sampling d.Convenience sampling e.Judgement samplingElon Corporation manufactures parts for an aircraft company. It uses a computerized numerical controlled (CNC) machining center to produce a specific part that has a design (nominal) target of 1.275 inches with tolerances of ±0.024 inch. The CNC process that manufactures these parts has a mean of 1.281 inches and a standard deviation of 0.008 inch. Which of the following statements is true concerning the process capability ratio and process capability index? O The process is off center and incapable. O The process is centered, but incapable. The process is capable and centered. O The process is capable, but off center.Emenyi Company Limited is considering using Markov analysis to analyze brand switching between three different brands of its Detox medicated soap; Detox White, Detox Green and Detox Orange. The company’s marketing specialist conducted a survey and gathered data which she utilized to estimate the following transition matrix. The matrix shows the probability of moving between brands each month: From White Green OrangeWhite 0.78 0.11 0.11 Green 0.04 0.94 0.02 Orange 0.20 0.04 0.76 The current (month 1) market shares are 50%, 20% and 30% for Detox White, Detox Green and Detox Orange respectively. Required (i) What will be the expected market shares for each of the three brands after two months have elapsed (that is, in month 3)?(ii) What is the long-run prediction for the expected market share for each of the three brands?