Statistics

1. For each one of the following null hypothesis, determine if it is a left-tailed, a right-
tailed, or a two-tailed test. [10 Marks}

a. μ ≥ 10
right tailed
b. P ≤ 0.5
Left tailed
c. μ is at least 100.
Right tailed
d. μ ≤ -20
Left tailed
e. p is exactly 0.22

Two sided

2 Suppose you are sampling from a population with mean μ= 1,065 and standard
deviation σ = 500. The sample size is n=100. What are the expected value and the
variance of a sample mean ̅ ? [ 10 Marks]
μ= 1,065
σ = 500
n=100

variance = σ^2/Sqrt(n) = 5000

3. The time it takes an international telephone operator to place an overseas phone call
is normally distributed with mean 45 seconds and standard deviation 10 seconds. [10
Marks]
a) What is the probability that my call will go through in less than 1 minute?

Z = (xbar - µ)/σ

Xbar = 60
Mean = 45
Stdev = 10

(xbar -
Mu)/std
z= ev
1.5
0.933193
So the probability is 93.3193%
b) What is the probability that I will get through in less than 40 seconds?

Xbar = 40
Mean = 45
Stdev = 10

Z=
-0.5
0.30853
8
So the probability is 30.85%
4. The following data are the number of tons shipped weekly across the pacific by a
shipping company. [10 marks]

398, 412, 560, 476, 544, 690, 587, 600, 613, 457, 504, 477, 530, 641, 359, 566, 452,
633, 474, 499, 580, 606, 344, 455, 505, 396, 347, 441, 390, 632, 400, 582
Assume these data represent an entire population. Find the population mean and the
population standard deviation.

x x-xbar (x-xbar)^2
-
398 106.69 11,382.22
-
412 92.69 8,590.97

560 55.31 3,059.47

-
476 28.69 822.97

544 39.31 1,545.47

690 185.31 34,340.72

587 82.31 6,775.35

600 95.31 9,084.47

613 108.31 11,731.60

-
457 47.69 2,274.10
-
504 0.69 0.47
-
477 27.69 766.60

530 25.31 640.72

641 136.31 18,581.10

-
359 145.69 21,224.85

566 61.31 3,759.22

-
452 52.69 2,775.97
 633 128.31 16,464.10
-
474 30.69 941.72
-
499 5.69 32.35

580 75.31 5,671.97

606 101.31 10,264.22

-
344 160.69 25,820.47
-
455 49.69 2,468.85

505 0.31 0.10

-
396 108.69 11,812.97
-
347 157.69 24,865.35
-
441 63.69 4,056.10
-
390 114.69 13,153.22

632 127.31 16,208.47

-
400 104.69 10,959.47

582 77.31 5,977.22

n 32

average 504.69
sum 286052.88
Varianc
e 9227.5121
standard dev 96.05994

Financial Management:

Q1 A change in credit policy has caused an increase in sales, an increase in discounts

taken, a decrease in the amount of bad debts, and a decrease in investment in accounts
receivable. Based upon this information, the company’s (select the best one and give
reason)
1) Average collection period has decreased
2) Percentage discount offered has decreased
3) Accounts receivable turnover has decreased
4) Working Capital has increased.