QMB 3200 GOOD COMPILATION OF EXAM QUESTIONS AND THEIR CORRECT ANSWERS
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Course
QMB 3200
Institution
QMB 3200
Recently, FHA mortgages, which are insured by the federal government, accounted for 28% of all home-purchase mortgages that were approved. A random sample of 150 mortgage applications was selected. What is the probability that 48 or more from this sample were insured by the FHA?
0.1376
Soffritto ...
QMB 3200 GOOD COMPILATION
OF EXAM QUESTIONS AND THEIR
CORRECT ANSWERS
Recently, FHA mortgages, which are insured by the federal
government, accounted for 28% of all home-purchase
mortgages that were approved. A random sample of 150
mortgage applications was selected. What is the probability
that 48 or more from this sample were insured by the FHA?
0.1376
Soffritto Italian Grill served 220 dinners last Saturday night.
The Chef's Special was ordered by 15% of the customers. A
random sample of 50 customer orders from that evening was
selected. What is the probability that between 8 and 12 of
these orders were the Chef's Special?
0.3895
According to Experian, the average FICO credit score for
residents of Tallahassee, FL, is 701. Suppose the standard
deviation for this population is 36.1. A random sample of 120
Tallahassee residents has been selected. The standard error of
the mean for this sample is ________.
3.30
The Central Limit Theorem (CLT) states that the sample means
,of large-sized samples will be normally distributed regardless of
the shape of their population distributions.
A recent study reported that 73% of Americans could only
converse in one language. A random sample of 130 Americans
was randomly selected. What is the probability that 100 or
fewer of these Americans could only converse in one
language?
0.8432
Recently, 18.3% of visitors to the Travelocity website hailed
from the Google search engine. A random sample of 130
visitors on the Travelocity website was selected. The standard
error of the proportion is ________.
0.0339
An Epson inkjet printer ad advertises that the black ink
cartridge will provide enough ink for an average of 245 pages.
Assume that this claim is accurate and that the standard
deviation for this population is 15 pages. A random sample of
33 customers was surveyed about the number of pages they
were able to print with their black ink cartridges. What the
probability that the sample mean will be 246 pages or more?
0.3509
A recent study reported that 28% of shoppers only review one
page when searching online for product information. A
random sample of 100 shoppers was randomly selected. What
,is the probability that between 20 and 30 of these shoppers
only review one page when searching online?
0.6346
According to Eurostat, 55.2% of households in Italy have one
child, the highest percentage in the Euro zone. A random
sample of 160 Italian households was selected. The standard
error of the proportion is ________.
0.0393
According to Net Market Share, Microsoft's Internet Explorer
browser has 53.4% of the global market. A random sample of
70 users was selected. What is the probability that 32 or more
from this sample used Internet Explorer as their browser?
0.9013
An NCAA study reported that the average salary of the 300
major college football coaches is $1.47 million. Using a
random sample of 30 coaches and a population standard
deviation of $300,000, what is the probability that the sample
mean is between $1.4 million and $1.5 million per year?
0.6285
Turkey Town Surfing is an online company that sells surfing
materials for avid surfers. Suppose their average order size is
$218.19 with a standard deviation of $35.44. A random
sample of 35 customer orders has been selected. The standard
error of the mean for this sample is ________.
, $5.99
The MBA program at Florida State University has an
enrollment of 160 students with an average age of 34.7 years
old and a standard deviation 5.2 years. A random sample of 40
MBA students was selected. What is the probability that the
average age of the sample is less than 34 years old?
0.1635
A recent study reported that 22% of adults in France admitted
to texting or e-mailing while driving. A random sample of 110
French adults was randomly selected. What is the probability
that 26 or more of these adults admitted to admitted to
texting or e-mailing while driving?
0.3393
The Fortune 500 is comprised of Fortune magazine's annual
list of the finite population of the top 500 companies in the
U.S. ranked by revenues. According to Catalyst, 16% of
positions on corporate boards at Fortune 500 companies were
held by women in 2018. A random sample of 100 Fortune 500
companies was selected. The standard error of the proportion
is ________.
0.0328
NOT 0.0367
The sample means for a population that follows the normal
distribution will also be normally distributed, regardless of the
size of the samples.
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