28 Jun MANAGERIAL STATISTICS
1.Suppose that we have a sample space S= E1,E2,E3,E4,E5,E6,E7,, where E1,E2,.,E7 denote the sample points. The following probability assignments apply: P(E1) =.05, P(E2)= .20, P(E5) =.10, AND P(E7)=.05. Let A = E1,E4,E6 LET B = E2,E4,E7 C = E2,E3,E5,E7 A. find P(A),P(b), and P(C) B. find A U B and P(A U B). C. find AB and P (AB). D. are events A and C mutually exclusive? E. Find Bc and P (Bc).
Clarkson University surveyed alumni to learn more about what they think of Clarkson. One part of the survey asked respondents to indicate whether their overall experience at Clarkson fell short of expectations, met expectations, or surpassed expectations, and 65% of the respondents said that their experience met expectations.
a.If we chose an alumnus at random, what is the probability that the alumnus would say their experience surpassed expectations?
b.Of we chose an alumnus at random, what is the probability that the alumnus would say their experience met or surpassed expectations?
2.Car rental rates per day for a sample of seven Eastern U.S. cities are as follows (the wall street journal, January 16,2004).
City Daily Rate
Boston $43
Atlanta 35
Miami 34
New York 58
Orlando 30
Pittsburgh 30
Washington, D.C. 36
a.Compute the mean, variance, standard deviation for the car rental
b.A similar sample of seven Western U.S. cities showed a sample n rate of $38 per day. The variance and standard deviation were 12.3 actively. Discuss any difference between the car rental rates in Eastern U.S. cities.
3.Five observations taken for two variables follow.
Xi 6 11 15 21 27
Yi 6 9 6 17 12
a.Develop a scatter diagram for these data.
b.What does the scatter diagram indicate about a relationship between x and y
c.Compute and interpret the sample covariance.
d.Compute and interpret the sample correlation coefficient.
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