Question 1127267: I saw the below questions but cannot see the answers
A company reports 12% of its accounts receivables are overdue. If an auditor takes a random sample of 8 accounts, what is the probability that no more than two account in the sample will be overdue? (Use Binomial Distribution with cumulative probability)
The time required to complete a routine quality check process is known to be normally distributed with a standard deviation of 4.0 minutes.
If a sample of 100 quality check records yields a mean of 14.5 minutes, then
• Construct a 95% confidence interval
• Construct a 90% confidence interval
If a sample of 200 quality check records yields a mean of 14.5 minutes, then
• Construct a 95% confidence interval
• Construct a 90% confidence interval
Exercise
A marketing firm has implemented a customer satisfaction survey that it sends out to 500 customers each year. Over time the company has learned that there is about a 6% probability that a given prospect will complete the survey.
• What is the probability that when the survey is given exactly 20 customers will respond?
(hint use Binomial Distribution without cumulative probability)
• What is the probability that at least 20 prospects will respond, i.e. 20 or more responses?
(hint use Binomial Distribution with cumulative probability)
Exercise
A normal distributed population of measurements has a population mean of 140 and a standard deviation of 8.
• What is the probability that a measurement taken at random in the population will be less than 160?
• What is the probability that a measurement taken at random in the population will be greater than 150?
• What is the probability that a measurement taken at random in the population will be between 150 and 160?
An auditor claims that the average A/R balance is $775. A random sample of 49 accounts is examined and found to have a mean of $794 and a standard deviation of $56. Should the auditors claim be accepted or rejected?
• At the 5% significance level?
• At the 1% significance level?
Answer by ikleyn(52805)   (Show Source):
You can put this solution on YOUR website! .
The golden rule of this forum is
ONE and ONLY ONE problem per post.
It is the rule, the requirement and the policy of this forum.
With it, welcome to the forum !
Have a nice day !
|
|
|
