Question

**BINOMIAL PROBABILITIES**

**Big Box Store (BBS) has an annual rate of 4% of all
sales being returned. In a recent sample of thirty randomly
selected sales the number of returns was five. BBS is concerned
about the event, and your advice is solicited.**

**(1) (5 points) How many returns are expected in a random
sample of 30 sales? What is the standard deviation for this sample?
How would you explain the number of expected**

**returns to BBS and not use a decimal? Show any work and
type your answer below.**

**(3) (5 points) How many ways can there be 5 returns in a
sample of 30 sales?**

**Type the answer and any work below.**

**FOR 4 – 9, OPEN THE EXCEL EXAM TWO FILE. THE SPREADSHEET
FOR THIS PROBLEM IS FOUND ON SHEET TWO. COMPLETE AND SAVE YOUR WORK
IN EXCEL AND ENTER THE SOLUTIONS BELOW.**

**(4) (2.5 points) What is the probability that a random
sample of 30 sales has 5 returns?**

**Type the answer and any work below.**

**(5) (2.5 points) What is the probability that a random
sample of 30 sales has at least 5 returns?**

**Type the answer and any work below.**

**(6) (2.5points) What is the probability that a random
sample of 30 sales has 5 or fewer**

**returns? Type the answer and any work
below.**

**(7) (2.5 points) What is the probability that a random
sample of 30 sales has less than four**

**returns? Type the answer and any work
below.**

**(8) (2.5 points) What is the probability that the number
of returns is not equal to 4 in a random**

**sample of 30 sales? Type the answer and any work
below.**

**(9) (2.5 points) What is the probability that a random
sample of 30 sales has more than three**

**returns? Type the answer and any work
below.**

Answer #1

BINOMIAL PROBABILITIES Big Box Store (BBS) has an annual rate of
4% of all sales being returned. In a recent sample of thirty
randomly selected sales the number of returns was five. BBS is
concerned about the event, and your advice is solicited. FOR 4 – 9,
OPEN THE EXCEL EXAM TWO FILE. THE SPREADSHEET FOR THIS PROBLEM IS
FOUND ON SHEET TWO. COMPLETE AND SAVE YOUR WORK IN EXCEL AND ENTER
THE SOLUTIONS BELOW. (4) (2.5 points) What is...

BINOMIAL PROBABILITIES Big Box Store (BBS) has an annual rate of
4% of all sales being returned. In a recent sample of thirty
randomly selected sales the number of returns was five. BBS is
concerned about the event, and your advice is solicited. FOR 4 – 9,
OPEN THE EXCEL EXAM TWO FILE. THE SPREADSHEET FOR THIS PROBLEM IS
FOUND ON SHEET TWO. COMPLETE AND SAVE YOUR WORK IN EXCEL AND ENTER
THE SOLUTIONS BELOW. ((5) (2.5 points) What is...

Big Box Store (BBS) has an annual rate of 4% of all sales being
returned. In a recent sample of thirty randomly selected sales the
number of returns was five. BBS is concerned about the event, and
your advice is solicited.
(1) (5 points) How many returns are expected in a random sample
of 30 sales? What is the standard deviation for this sample? How
would you explain the number of expected
returns to BBS and not use a decimal?...

A sample of people were asked what was the usual way that they
paid for alternative modes of public transportation Their responses
are recorded in the following table:
Taxi
Bus
Rail
Uber
TOTAL
Cash
25
25
12
15
Credit
20
10
47
67
City Pass
15
32
33
0
TOTAL
(1) (5 points) Complete the contingency table, filling in the
column and row totals.
(2) (5 points) What is the probability that a randomly selected
respondent usually pays with
credit...

The Appliance Centre has six sales representatives at its store.
Listed below are the numbers of refrigerators sold by the
representatives last month:
Sales Representative
Number Sold
Zina Craft
58
Woon Junge
52
Ernie DeBrul
54
Jan Niles
54
Molly Camp
52
Rachel Myak
54
a. How many samples of size 2 are possible?
c. Organize the sample means into a frequency
distribution. (Round the Probability to 4 decimal
places.)
Sample
Means
Frequency
Probability
52
53
54
55
56...

A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Salesperson
Years of Experience
Annual Sales ($1000s)
1
1
84
2
4
93...

Part A: Answer all the questions below. You are required to
number all your answers correctly and write all the necessary
solutions in your answer sheets.
1. If you would win $25 if you pulled a heart from a standard
deck of 52 cards, the Expected Monetary Value would be? Write the
implications if this bet is repeated a large number of times. [3
Marks]
2.
Ifan8-characterPINisselectedfrom0,1,2,3,4,5,6,7,8,9,X,P,Rwhatisthetotal
possible number of PINs without repetitions? [2 Marks]
3. How many total number...

A sales manager collected data on annual sales for new customer
accounts and the number of years of experience for a sample of 10
salespersons. In the Microsoft Excel Online file below you will
find a sample of data on years of experience of the salesperson and
annual sales. Conduct a regression analysis to explore the
relationship between these two variables and then answer the
following questions.
Open spreadsheet
Compute b1 and b0 (to 1
decimal).
b1 =
b0 =...

AMC Inc. evaluates divisional managers in part by the
number of consumer complaints senior management receives every
month. The expectation is that no more than 20 complaints per
division per month should be flagged for corporate attention. A
sample of divisional data for the last five years or 60 months was
collected. AMC defined X to be a random variable counting the
number of complaints when twenty or more complaints in any division
required senior management attention in a month;...

4. Your science group has 9 boys and 12 girls in it. You want
them to work on a project together. (9 points)
a. How many
different groups of 3 can you create?
b. How many
different groups of 6 can you create if you want 3 boys and 3 girls
in the group?
c. What is the
probability that a four person social committee will consists of
all girls?

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