## Transcribed Text

Questions 1 through 4 refer to the following. The manager of the KCPA takes a random sample
of the ages of those attending the Great Hall series at regular ticket rates. The data is shown in
the table below.
Age frequency
25 up to 35 4
35 up to 45 8
45 up to 55 12
55 up to 65
1. What is the med an class? (6 points)
2. Calculate the standard deviation for this sample. (7 points)
3. What is the coefficient of variation for this sample? (6 points)
4. What is the cumulative frequency of the class 35 up to 45? (6 points)
Questions 5 through 8 refer to the following. A New York bank frequently hires consultants for
quick reports on the stock market. They have found that the probability distribution for X, the
number of weeks it takes to finish these reports, is as follows:
Number of weeks (X): 1
Probabillty: .2
2
.4
3
.25
4
.15
Questions 5 through 8 refer to the following. A New York bank frequently hires consultants for
quick reports on the stock market. They have found that the probability distribution for X, the
number of weeks it takes to finish these reports, is as follows:
Number of weeks (X): 1
Probability: .2
2
.4
3
.25
4
.15
5. Calculate the expected value for the number of weeks it takes the consultants to f nish
their reports. (6 points)
6. What is the variance for the number of weeks it takes to finish the reports? (6 points)
7.
8.
If we randomly selected 5 of these reports, what is the probability 1 or 2 of them took
three weeks to finish. (6 points)
The bank pays the consultants a fee which declines with the time it takes to finish the
report: F = 10,000 - 2,021.80 X, where F is the fee and X is the number of weeks to
finish. What is the standard deviation of this fee for these consultants? (7 points)
Questions 9 through 12 refer to the following. Applicants to enter a university are classified by
home residence and level of ACT score. Thirty percent are from Oklahoma. Forty percent have
top ACT scores. Of those with top ACT scores. 25% are from Oklahoma.
9. What is the probability that a randomly selected applicant is from Oklahoma and has a
top ACT score? (7 points)
10. What is the probability that a randomly selected applicant is either from out-of-state or
does not have a top ACT score? (6 points)
11. Show whether being from Oklahoma and having a top ACT score are independent
events. (6 points)
12. Of those witll top ACT soores, 70% are admitted. Of those withou1 top ACT scores, 25%
are admitted. If a randomly selec1ed applicant is found lo have been admitted, whal is
the probability he or she had a lop ACT score? (6 points)
Questions 13 - 16 refer to the following:
The ages of a sample of eigh1 commercial planes which an airline uses at O'Hare Field are:
15, 18, 22, 3, 15, 21 , 12, 14
13. What is the Interquartile range? (6 points)
14. If one of lhe planes from 1he sample is selec1ecl at random, what is the probability that i1s
age will be less than 1he mode? (6 poin1s)
15. The shift changes after 5 more of these planes listed depart. How many different
departure orderings are possible among these plane-s before the shift changes? (7
points)
16. The average cost to service a plane yearly is equal to $5,000'T + $60,000, where T is the
age of the plane. What is the average cost per year to service a plane in this fleet? (6
points)

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