All MBA students have to take entry test for admission to AUAF. Scores are normally distributed with a mean of 230 and standard deviation of 40. What fraction of applicants would you expect to have scores of 300 or above? A- 0.0401 B- 0.4599 C- 0.5401 D- 0.0325
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- The game of Chuck-a-Luck is played as follows: You pick a number between 1 and 6 and toss three dice. If your number does not appear, you lose 1. If your number appears x times, you win x. On the average, use simulation to find the average amount of money you will win or lose on each play of the game.4. A credit rating company recommends granting of credit cards based on several criteria. One is annual income. If the annual income of applicants is normally dis- tributed with mean $22,000 and standard deviation $4,800 and the company recommends no applicant unless his or her income exceeds $15,000, what fraction of the applicants are denied on this basis?Markov process models can be used to describe the probability that a consumer purchasing brand A in one time period 1.will sell brand A in the next period 2. all of the answers are correct. 3.will sell brand A after three time periods 4. will not purchase brand A in the next period
- Discuss how likely it is that 70% of students will pass a college course with a B or an A. Then, consider the following questions: Would you look at data showing the success rate of previous courses? Would you check whether the current GPA of students in your class is high or low? What other data would you like to have before you determine the probability of 70% of students passing this course with a B or an A?Which of the following statements is correct regarding the EMH form? Select one: None of the answers are correct If the market is weak-form efficient, then it is also semistrong and strong-form efficient. If the market is semistrong form efficient, then it is also strong form efficient If a market is strong-form efficient, it is also semistrong and weak form efficient If the market is strong-form efficient, it is also semistrong but not weak-form efficientA careful analysis of the cost of operating an automobile was conducted by accounting manager Dia Bandaly. The following model was developed: y = 3,600+ 0.16x, where y is the annual cost and x is the miles driven. a) If the car is driven 15,000 miles this year, the forecasted cost of operating this automobile = $ b) If the car is driven 26,000 miles this year, the forecasted cost of operating this automobile = $ (enter your response as a whole number). (enter your response as a whole number).
- Suppose that you want to study the effect of occupational licensing on quality of care received at nursing homes. Suppose further that you come across a policy which states that facilities with fewer than 100 beds are not required to hire licensed workers, while those with over 100 beds are required to hire licensed workers. Suppose further you assume that facilities with fewer than 100 beds are similar to facilities with just over 100 beds (as if it is random which facilities fall on which side of the threshold). Given this description, the most straightforward method you can use to identify the causal effect of licensing requirement on quality of care is: Difference-in-differences (diff-in-diff) Instrumental variables (IV) Regression discontinuity design (RDD)A person must score in the upper 2% of the population on an IQ test to qualify for membership in Mensa. If IQ scores are normally distributed with a mean of 100 and a standard deviation of 15, what score must a person have to qualify for Mensa?Which of the following types of mortgage loans is presumed to feature points or fees not excending 3%, a maximum term not to exceed 30 years, and no risky features (such as negative amortization, interest-only, or balloon loans)? A) A qualified mortgage B) A conventional mortgage C) A non-qualified mortgage D) A home equity line of credit (HELOC) mortgage
- List down the most important types of probability distributions used in quality management?Suppose that you work at a local food manufacturer and are given the task of investigating your company's seasonal sales patterns over the past 10 years (2011 to 2020). After adjusting your sales values for inflation, you calculate the following seasonal sales averages (in millions): Spring: 39 Summer: 46 Fall: 32 Winter: 23 Use this information to seasonally adjust your 2021 Winter sales total of 29 million. Round your answer to two decimal points and omit any units (1.23 NOT $1.23 million).What price do farmers get for their watermelon crops? In the third week of July, a random sample of 42 farming regions gave a sample mean of = $6.88 per 100 pounds of watermelon. Assume that σ is known to be $1.92 per 100 pounds. (a) Find a 90% confidence interval for the population mean price (per 100 pounds) that farmers in this region get for their watermelon crop (in dollars). What is the margin of error (in dollars)? (For each answer, enter a number. Round your answers to two decimal places.)lower limit $ upper limit $ margin of error $ (b) Find the sample size necessary for a 90% confidence level with maximal error of estimate E = 0.27 for the mean price per 100 pounds of watermelon. (Enter a number. Round up to the nearest whole number.) farming regions (c) A farm brings 15 tons of watermelon to market. Find a 90% confidence interval for the population mean cash value of this crop (in dollars). What is the margin of error (in dollars)? Hint: 1 ton is 2000…