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Question 1

Fifty chief executive officers of small to medium-sized companies were classified according to their gender and functional background as shown in the table below:

Functional Background

Male

Female

Total

Marketing

4

10

14

Finance

11

5

16

Operations

17

3

20

Total

32

page2image7077888

18

50

  1. If a chief executive is randomly selected from this group what is the probability that the executive is a Male?
  2. What is the probability that a randomly selected executive from this group is a male whose functional background is Finance?
  3. Assume that an executive is selected and you are told that the executive’s functional background was in operations. What is the probability that his executive is a male?
  4. Assume that an executive is selected and you are told that the executive is female. What is the probability the executive’s functional area is marketing?
  5. Are gender and functional background independent for this set of executives?

Question 2

A manufacturing firm has two suppliers for an electrical component used in its process: one in Mexico and one in China. The supplier in Mexico ships 82% of all the electrical components used by the firm and has a defect rate of 6%. The Chinese supplier ships 18% of the electrical components used by the firm and has a defect rate of 4%.

a. Draw a tree diagram for this question.

b. Calculate the probability that an electrical component is defective.

c. Suppose an electrical component is defective. What is the probability that component was shipped from Mexico?

Question 3
Given the following discrete probability distribution.

X

P(x)

50

0.2

65

0.15

70

0.25

75

0.05

90

?

  1. Calculate the expected value of x.
  2. Calculate the variance of x
  3. Calculate the standard deviation of x.

Question 4

A survey by KRC Research for US News reported that 30% of people plan to spend more on eating out after they retire. If ten people are randomly selected, then determine the

  1. Expected number of people who plan to spend more on eating out after they retire.
  2. Standard deviation of the individuals who plan to spend more on eating out after they retire.

c. Probability that two or fewer in the sample indicate that they actually plan to spend more on eating out after retirement.

Question 5

A global financial institution transfers a large data file every evening from offices around the world to its London headquarters. Once the file is received, it must be cleaned and partitioned before being stored in the company’s data warehouse. Each file is the same size and the time required to transfer, clean, and partition a file is normally distributed, with mean of 1.5 hours and a standard deviation of 15 minutes.

a. If one file is selected at random, what is the probability that it will take longer than 1 hour and 45 minutes to transfer, clean, and partition the file?

b. If a manager must be present until 90% of the files are transferred, cleaned, and partitioned, how long will the manager need to be there?

c. What percentage of the data files will take between 70 minutes and 110 minutes to be transferred, cleaned, and partitioned?

Question 6

When only the value-added time is considered, the time it takes to build a laser printer is thought to be uniformly distributed between 8 and 15 hours.

  1. What are the chances that it will take more than 10 value-added hours to build a printer?
  2. How likely is it that a printer will require less than 9 value-added hours?

c. Suppose a single customer orders two printers. Determine the probability that the first and second printer each will require less than 9 value-added hours to complete.

Unformatted Attachment Preview

Dalhousie University MGMT 1501 – Statistics for Managers Assignment # Student Name Student # Due Date 2 Feb 8th , 2018 Note: 1. 2. 3. 4. Cover sheets must be completed and attached to assignment. Staple together all sheets of the assignment. Assignments are to be submitted on the due date, in class, at the beginning of class. Late assignments will not be marked. Question 1 Fifty chief executive officers of small to medium-sized companies were classified according to their gender and functional background as shown in the table below: Functional Background Marketing Finance Operations Total Male Female Total 4 11 17 32 10 5 3 18 14 16 20 50 a. If a chief executive is randomly selected from this group what is the probability that the executive is a Male? b. What is the probability that a randomly selected executive from this group is a male whose functional background is Finance? c. Assume that an executive is selected and you are told that the executive’s functional background was in operations. What is the probability that his executive is a male? d. Assume that an executive is selected and you are told that the executive is female. What is the probability the executive’s functional area is marketing? e. Are gender and functional background independent for this set of executives? Question 2 A manufacturing firm has two suppliers for an electrical component used in its process: one in Mexico and one in China. The supplier in Mexico ships 82% of all the electrical components used by the firm and has a defect rate of 6%. The Chinese supplier ships 18% of the electrical components used by the firm and has a defect rate of 4%. a. Draw a tree diagram for this question. b. Calculate the probability that an electrical component is defective. c. Suppose an electrical component is defective. What is the probability that component was shipped from Mexico? Question 3 Given the following discrete probability distribution. X 50 65 70 75 90 P(x) 0.2 0.15 0.25 0.05 ? a. Calculate the expected value of x. b. Calculate the variance of x c. Calculate the standard deviation of x. Question 4 A survey by KRC Research for US News reported that 30% of people plan to spend more on eating out after they retire. If ten people are randomly selected, then determine the a. Expected number of people who plan to spend more on eating out after they retire. b. Standard deviation of the individuals who plan to spend more on eating out after they retire. c. Probability that two or fewer in the sample indicate that they actually plan to spend more on eating out after retirement. Question 5 A global financial institution transfers a large data file every evening from offices around the world to its London headquarters. Once the file is received, it must be cleaned and partitioned before being stored in the company’s data warehouse. Each file is the same size and the time required to transfer, clean, and partition a file is normally distributed, with mean of 1.5 hours and a standard deviation of 15 minutes. a. If one file is selected at random, what is the probability that it will take longer than 1 hour and 45 minutes to transfer, clean, and partition the file? b. If a manager must be present until 90% of the files are transferred, cleaned, and partitioned, how long will the manager need to be there? c. What percentage of the data files will take between 70 minutes and 110 minutes to be transferred, cleaned, and partitioned? Question 6 When only the value-added time is considered, the time it takes to build a laser printer is thought to be uniformly distributed between 8 and 15 hours. a. What are the chances that it will take more than 10 value-added hours to build a printer? b. How likely is it that a printer will require less than 9 value-added hours? c. Suppose a single customer orders two printers. Determine the probability that the first and second printer each will require less than 9 value-added hours to complete.
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Explanation & Answer

Attached.

Dalhousie University
MGMT 1501 – Statistics for Managers

Assignment #

2

Student Name
Student #
Due Date

Feb 8th , 2018

Note:
1.
2.
3.
4.

Cover sheets must be completed and attached to assignment.
Staple together all sheets of the assignment.
Assignments are to be submitted on the due date, in class, at the beginning of class.
Late assignments will not be marked.

Question 1
Fifty chief executive officers of small to medium-sized companies were classified according to
their gender and functional background as shown in the table below:
Functional
Background
Marketing
Finance
Operations
Total

Male

Female

Total

4
11
17
32

10
5
3
18

14
16
20
50

a. If a chief executive is randomly selected from this group what is the probability that the
executive is a Male?
First step; find the total number of male executives
Total number of male executives= 32
Second step; find the total number of executive officers
Total number of executive officers= 50
Probability = total number of male executives/ total number of executives
P (E) = 32/ 50
= 0.64
Hence, the probability that the executive selected is a male is 0.64

b. What is the probability that a randomly selected executive from this group is a
male whose functional background is Finance?
First step; the total number of male executives with functional background in finance is 11
Second step; the total number of executive officers is 50
To find the probability, P (E) = total number of male executives in finance/ total number of
executive officers...


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