Practice Exam Chapter 6 Solution
Practice Exam Chapter 6 Solution
a. – 0.81
b. – 0.31
c. 0.31
d. 1.96
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4. For some positive value of X, the probability that a standard
normal variable is between 0 and +2X is 0.1255. The value of X is
a. 0.99
b. 0.40
c. 0.32
d. 0.16
i. 0.0919
ii. 0.2255
iii. 0.4938
iv. 0.7745
a. 1.56 pounds
b. 4.84 pounds
c. 5.2 pounds
d. 7.36 pounds
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Section II: TRUE Or FALSE
True
False
False
4. A worker earns $15 per hour at a plant and is told that only 2.5%
of all workers make a higher wage. If the wage is assumed to be
normally distributed and the standard deviation of wage rates is $5
per hour, the average wage for the plant is $7.50 per hour.
False
True
False
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7. If a data batch is approximately normally distributed, its normal
probability plot would be S-shaped.
False
1. A company that sells annuities must base the annual payout on the
probability distribution of the length of life of the participants in the
plan. Suppose the probability distribution of the lifetimes of the
participants is approximately a normal distribution with a mean of
68 years and a standard deviation of 3.5 years.
0.0228
0.8944
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3. The owner of a fish market determined that the average weight for
a catfish is 3.2 pounds with a standard deviation of 0.8 pound.
Assuming the weights of catfish are normally distributed, the
probability that a randomly selected catfish will weigh less than 2.2
pounds is _______?
0.1056
5. You were told that the amount of time lapsed between consecutive
trades on the New York Stock Exchange followed a normal
distribution with a mean of 15 seconds. You were also told that the
probability that the time lapsed between two consecutive trades to
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fall between 16 to 17 seconds was 13%. The probability that the time
lapsed between two consecutive trades would fall below 13 seconds
was 7%.
h. The probability is 20% that the time lapsed will be shorter how
many seconds?14 seconds
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i. The probability is 80% that the time lapsed will be longer than
how many seconds? 14 seconds
j. The middle 60% of the time lapsed will fall between which two
numbers?14 seconds and 16 seconds
k. The middle 86% of the time lapsed will fall between which two
numbers? 13 seconds and 17 seconds
i. The probability that Z values are larger than ______ is 0.3483. 0.39
j. The probability that Z values are larger than ___ is 0.6985. -0.52
c. The middle 40% of the catfish will weigh between ______ pounds
and ______ pounds.2.8 and 3.6
TABLE (A)
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d. Referring to Table (A), the fourteenth standard normal quantile is
________.+1.1503
Table (B)
i. 300 --320