1. The array below shows the number of days required for approval for a random selection of small business loan applications:
56 21 38 17 15 67 45 48 60 56 22 53 37 17
50 92 39 16 59 73 17 31 28 51 74 42 31
What is the arithmetic mean for these observations? (Round the calculation to two decimal places.)
a. 42.00
b. 42.78
c. 41.25
d. None of the above
2. Using the array in #1 above, calculate the median of the distribution, rounding to two decimal places.
a. 42.00
b. 42.78
c. 41.25
d. None of the above
3. Using the array in question 1 above, calculate the arithmetic mean with the single most extreme outlier removed. Round the
calculation to two decimal places.
a. 40.50
b. 40.89
c. 41.92
d. 43.85
4. The following is a five-number summary calculated from observations of the percentage of calories that come from fat in 23 items advertised as "reduced" fat from a sample of fast food chain restaurants. Form the box-and-whisker plot, select the phrase below which bests describes the shape of the distribution.
__________________________________
| 15 | 20 | 22 | 26 | 30 |
|____ |______ |______ |_______|_______|
a. Skewed slightly to the left
b. Skewed slightly to the right
c. Symmetrical distribution
d. There is not enough information given to determine the shape
5. The following data represents the processing times required to pack 20 randomly selected computer hardware orders for mailing:
5.62 16.25 11.46 8.45 5.41 11.62 7.5 4.42 7.58 7.54
5.29 10.92 21.62 8.58 11.42 7.29 7.96 10.5 9.29 8.92
What is the third quartile?
a. 10.92
b. 11.05
c. 11.42
d. 11.46
6. What is the standard deviation of the distribution of the observations in the array shown in question 11 above?
a. 0.894
b. 3.998
c. 4.199
d. 15.981
7. What is the coefficient of variation for the observations in the array shown in question 11 above?
a. 39.97 %
b. 44.15%
c. 42.61%
d. 46.94 %
8. The employees of a company were surveyed on questions regarding their educational background and marital status. Of the 600 employees, 400 had college degrees, 100 were single, and 60 were single college graduates. The probability that an employee of the company is married and has a college degree is:
a. 40/600
b. 340/600
c. 400/600
d. 500/600
9. An advertising executive is studying TV viewing habits of married men and women during prime time hours. On the basis of past viewing records, the executive has determined that during prime time, husbands are watching TV 60% of the time that their wives are also watching TV. When the husband is not watching TV, 30% of the time his wife is watching TV. What is the probability that, if the wife is watching TV, her husband is also watching TV?
a. 0.12
b. 0.24
c. 0.36
d. 0.67
10. Mothers Against Drunk Driving is a very visible group whose main focus is to educate the public about the harm caused by drunk drivers. A study was recently done that emphasized the problem we all face with drinking and driving. Four hundred accidents that occurred on a Saturday night were analyzed. Two items noted were the number of vehicles involved and whether alcohol played a role in the accident. The numbers are shown below:
Number of vehicles Involved
Did alcohol play a role? 1 2 3 Totals
Yes 50 100 20 170
No 25 175 30 230
Totals 75 275 50 400
Referring to the table above, what proportion of accidents involved more than one vehicle?
a. 50/400
b. 75/400
c. 275/400
d. 325/400
11. Referring to the table in question 20 above, what proportion of the non-alcohol related accidents were multiple vehicle accidents?
a. 50/170
b. 120/170
c. 205/230
d. 25/230
12. A company has 2 machines that produce widgets. An older machine produces 23% defective widgets, while the new machine produces only 8% defective widgets. In addition, the new machine produces 3 times as many widgets as the older machine does. What is the probability that a randomly chosen widget produced by the company is defective?
a. .055
b. .0775
c. .1175
d. .256
13. A survey is taken among customers of a fast-food restaurant to determine preference for hamburger or chicken. Of 200 respondents selected, 75 were children and 125 were adults. 120 preferred hamburger and 80 preferred chicken. 55 of the children preferred hamburger. What is the probability that a randomly selected individual is an adult?
a. 0.50
b. 0.625
c. 0.75
d. None of the above