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Mba510 Problem Set 1

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Week 3 Problem Set 1:

Chapter 3: 62, 72

62) The Citizens Banking Company is studying the number of times the ATM located in a Lob laws Supermarket at the foot of Market Street is used per day. Following are the numbers of times the machine was used over each of the last 30 days. Determine the mean number of times the machine was used per day.
83 64 84 76 84 54 75 59 70 6163 80 84 73 68 52 65 90 52 7795 36 78 61 59 84 95 47 87 60
Answer: The ATM machine was used a mean number of times 70. 53.
72.) The weights (in pounds) of a sample of five boxes being sent by UPS are: 12, 6, 7, 3, and 10. 1. Compute the range. 3-12 2. Compute the mean deviation. 7.6 3. Compute the standard deviation.
Chapter 5, 66 66) A survey of undergraduate students in the School of Business at Northern University
Revealed the following regarding the gender and majors of the students:
Major Gender Accounting Management Finance Total
|Gender |Accounting |Major/management |Finance |Total |
|Male |100 |150 |50 |300 |
|Female |100 |50 |50 |200 |
|Total |200 |200 |100 |500 |

What is the probability of selecting a female student?
What is the probability of selecting a finance or accounting major?
What is the probability of selecting a female or an accounting major? Which rule of addition did you apply?
Are gender and major independent? Why?
What is the probability of selecting an accounting major, given that the person selected is a male?
Suppose two students...

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