Exhibit 2-2 Information on the type of industry is provided for a sample of 50 Fortune 500 companies.

Industry Type Banking Consumer Products Electronics Retail Frequency 7 15 10 18

1. Refer to Exhibit 2-2. The number of industries that are classified as retail is Answer: 18 2. Refer to Exhibit 2-2. The relative frequency of industries that are classified as banking is Answer: 0.14 3. Refer to Exhibit 2-2. The percent frequency of industries that are classified as electronics is Answer: 20 Exhibit 5-1 The following represents the probability distribution for the daily demand of microcomputers at a local store. Demand 0 2 4 6 8 Probability 0.1 0.2 0.3 0.2 0.2

4. Refer to Exhibit 5-1. The expected daily demand is Answer: 4.4 5. Refer to Exhibit 5-1. The probability of having a demand for at least two microcomputers is Answer: 0.9 Exhibit 6-1 Consider the continuous random variable x, which has a uniform distribution over the interval from 20 to 32. 6. Refer to Exhibit 6-1. The probability that x will take on a value between 21 and 27 is Answer: 0.500 7. Refer to Exhibit 6-1. The probability density function has what value in the interval between 22 and 30? Answer: 0.667

8. Refer to Exhibit 6-1. The probability that x will take on a value of at most 23 is Answer: 0.250 9. Refer to Exhibit 6-1. The variance of x is approximately Answer: 12 10. Refer to Exhibit 6-1. The mean of x is Answer: 26 Exhibit 3-1 A researcher has collected the following sample data. 30 40 40 70 50 60 70 50 20 40 11. Refer to Exhibit 3-1. The median is Answer: 45 12. Refer to Exhibit 3-1. The mean is Answer: 47 13. Refer to Exhibit 3-1. The mode is Answer: 40 Exhibit 6-4 The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation of $5,000. 14. Refer to Exhibit 6-4. What is the probability that a randomly selected individual with an MBA degree will get a starting salary of at most $30,000? Answer: 0.0228 15. Refer to Exhibit 6-4. What is the random variable in this experiment? Answer: the starting salaries 16. Refer to Exhibit 6-4. What is the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $47,500? Answer: Exhibit 1-1 In a recent study based upon an inspection of 200 homes in Daisy City, 120 were found to violate one or more city codes. 17. Refer to Exhibit 1-1. The city manger released a statement that 60% of Daisy Citys 3,000 homes are in violation of city codes. The managers statement is an example of Answer: statistical inference 18. Refer to Exhibit 1-1. The Daisy City study described above is an example of the use of a Answer: sample

19. Refer to Exhibit 1-1. The managers statement that 60% of Daisy Citys 3,000 homes are in violation of city codes is Answer: only an approximation, since it is based upon sample information Exhibit 5-8 The student body of a large university consists of 60% female students. A random sample of 8 students is selected. 20. Refer to Exhibit 5-8. What is the probability that among the students in the sample exactly five are female? Answer: 0.2787 Exhibit 5-6 Probability Distribution X f(x) 5 .2 10 .3 15 .4 20 .1 21. Refer to Exhibit 5-6. The variance of x equals Answer: 21 22. Refer to Exhibit 5-6. The expected value of x equals Answer: 12 Exhibit 8-1 In order to estimate the average time spent on the computer terminals per student at a local university, data were collected from a sample of 81 business students over a one-week period. Assume the population standard deviation is 1.2 hours. 23. Refer to Exhibit 8-1. The standard error of the mean is Answer: 0.133 24. Refer to Exhibit 8-1. If the sample mean is 9 hours, then the 95% confidence interval is approximately Answer: 8.74 to 9.26 hours 25. Refer to Exhibit 8-1. With a 0.95 probability, the margin of error is approximately Answer: 0.26 Exhibit 7-5 Random samples of size 17 are taken from a population that has 200 elements, a mean of 36, and a standard deviation of 8.

26. Refer to Exhibit 7-5. The mean and the standard deviation of the sampling distribution of the sample means are Answer; 36 to 1.86 Exhibit 1-2 In a sample of 3,200 registered voters, 1,440, or 45%, approve of the way the President is doing his job. 27. Refer to Exhibit 1-2. A political pollster states, Forty five percent of all voters approve of the President. This statement is an example of Answer: statistical inference 28. Refer to Exhibit 1-2. The 45% approval is an example of Answer: descriptive statistics Exhibit 14-2 You are given the following information about y and x. Y Dependent Variable 5 10 15 20 X Independent Variable 8 6 4 2

29. Refer to Exhibit 14-2. The coefficient of determination equals Answer: 1 30. Refer to Exhibit 14-2. The sample correlation coefficient equals Answer: -1.0 Exhibit 14-10 You are given the following information about y and x. Dependent Variable 5 7 9 11 Independent Variable 12 14 18 20

31. Refer to Exhibit 14-10. What is the LR equation. Is this model significant at alpha 2%? Answer: Y=-3.2 + 0.7X, which is significant 32. Refer to Exhibit 14-10. What is the P-Value of the independent variable X. Is it significant at alpha 5%. Answer: 0.01, which is significant or 0.0550, which is significant

Exhibit 14-9 You are given the following information about y and x. Dependent Variable 5 7 9 11 Independent Variable 12 14 18 20

33. Refer to Exhibit 14-9. The least squares estimate of b1 equals Answer: 0.70 34. The sum of frequencies for all classes will always equal Answer: the number of elements in a data set 35. U is an example of a Answer: population parameter 36. An experiment consists of three steps. There are five possible results on the first step, three possible results on the second step, and two possible results on the third step. The total number of experimental outcomes is Answer: 30 37. A numerical measure computed from a sample, such as sample mean, is known as a Answer: sample statistic 38. A lottery is conducted using three urns. Each urn contains chips numbered from 0 to 9. One chip is selected at random from each urn. The total number of sample points in the sample space is Answer: 1,000 39. It is known that the population variance equals 484. With a 0.95 probability, the sample size that needs to be taken to estimate the population mean if the desired margin of error is 5 or less is Answer: 75 40. Which of the following is a measure of dispersion? Answer: interquartile range 41. Since the sun must rise tomorrow, then the probability of the sun rising tomorrow is Answer: none of the other answers are correct 42. In an application for a credit card, potential customers are asked for their social security numbers. A social security number is an example of a Answer: qualitative variable 43. A common graphical presentation of quantitative data is a Answer: histogram

44. Three applications for admissions to a local university are checked to determine whether each applicant is male or female. The number of sample points in this experiment is Answer: 8 45. In a questionnaire, respondents are asked to record their age in years. Age is an example of a Answer: quantitative variable