MATH 1280 Final Exam, Exams of Business Finance

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Typology: Exams

2025/2026

Available from 08/08/2022

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Question text
You are interested in the number of English-speaking people on the
planet who want to play a new kind of online video game. You
asked 300 college students if they were interested in playing video
games, 100 said yes, and of them 20 preferred your game to an
existing game that is widely used.
How many people were in the sample?
Select one:
a. The number of English-speaking people on the planet who want
to play a new kind of online video game.
b. 300
c. 200
d. 100
e. 20
Question 2
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Not yet answered Marked out of 1. Flag question Question text You are interested in the number of English-speaking people on the planet who want to play a new kind of online video game. You asked 300 college students if they were interested in playing video games, 100 said yes, and of them 20 preferred your game to an existing game that is widely used. How many people were in the sample? Select one: a. The number of English-speaking people on the planet who want to play a new kind of online video game. b. 300 c. 200 d. 100 e. 20

Question 2

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Flag question Question text What is the mean of x? x <- c(12, 14, 11, 14, 13, 15, 12, 16, 10) Select one: a. 12 b. 13 c. 14 d. 15 e. 16

Question 3

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A random variable called L is defined by the following table, but one of the relative frequencies is missing: value: -5 0 1 3 8 relative frequency: .17 .11 .23.

Question 5

Not yet answered Marked out of 1. Flag question Question text What is the missing value in the list of relative frequencies for random variable L? Select one: a.. b.. c.. d.. e..

Question 6

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Flag question Question text What is the probability that a randomly selected item from random variable L will be greater than 0 and less than or equal to 3? Select one: a.. b.. c.. d.. e. 1

Question 7

Not yet answered Marked out of 1. Flag question Question text What is the expectation of random variable L?

Flag question Question text Which distributions are discrete? Select one: a. the normal distribution and the Poisson distribution. b. the Poisson distribution, the binomial distribution, and the uniform distribution. c. the binomial distribution and the exponential distribution. d. the Poisson distribution, the binomial distribution, and the normal distribution. e. none of the answers above are accurate There are 20 items on this exam. You are at the half-way point. Use this information for the next three questions. You operate a game at an amusement park where people throw darts at balloons and try to win prizes. Players get to throw 5 darts. From prior experience, you know that the probability of success (popping a balloon) for each dart is .15.

Question 10

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Flag question Question text What is the expected number of successes (balloons popped) when throwing 5 darts (rounded to two decimal places)? Select one: a. 1. b. 1. c. 2. d. 0. e. 0.

Question 11

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Flag question Question text At a small store, a customer enters the front door on average every 8 minutes. A prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. What is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? Select one: a.. b.. c. 1/ d. 7/ e..

Question 14

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Question text You read a research paper that applies to your industry, and it says that when people are given a list of facts about your product, they are more likely to buy your product and that the difference between the regular amount of sales and the sales when people read the list of facts is 3 standard deviations. How would you describe the difference of 3 standard deviations (select the best answer)? Select one: a. Can not tell because the units are not specified. b. It is a small difference because 3 is a small number. c. It is an important difference because a 3 standard deviation difference would be expected due to random chance in less than 1% of the cases. d. It is NOT an important difference because with each sample there is variation and the difference could be due to chance. e. Can not tell because the sample size is not given. Use the following information for the next three questions. At a medium sized airport, mechanics need to replace tires on some of the airplanes each week because the tread on the tires is below the safe limit. You collected 36 weeks of data and observed that the numbers followed a Poisson distribution and that there was an average of 2 tires replaced per week.

Question 15

Not yet answered Marked out of 1. Flag question Question text What is the lambda value for the Poisson distribution? Select one: a. 0

Flag question Question text Traffic at the airport changed recently, and you collected 36 weeks of data in an effort to estimate the new rate of tire replacements. You found that the average tire replacements per week was 2 and the numbers followed a Poisson distribution, but you realize that your sample might not be 100% accurate. What is the 99th percentile of sampling distribution of the mean of tires replaced per week (based on the observed mean of 2 and the sample size of 36)? Select one: a. qnorm(.99, mean=2, sd=sqrt(1/2)) b. pnorm(.99, mean=2, sd=2) c. pnorm(.99, mean=2, sd=1/sqrt(2)) d. qnorm(.99, mean=2, sd=sqrt(2)/6) e. qnorm(.99, mean=2, sd=1/

Question 18

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Flag question Question text The mean weekly sales per employee at a nationwide store is normally distributed with a mean of $7,300 per week and a standard deviation of $700. What is the probability that a randomly selected employee will have sales less than $6,500? Select one: a.. b.. c.. d.. e..

Question 19

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