Qmb3600 cumulative final exam | Business & Finance homework help

This problem is in reference to students who may or may not take advantage of the            opportunities provided in QMB such as homework.  Some of the students pass the      course, and some of them do not pass. Research indicates that 40% of the students do            the assigned homework. Of the students who do homework, there is an 80% chance     they will pass the course. The probability of not passing if the student does not do the       home             work is 90%.  What is the probability of a student not doing homework or passing?

 

A.        .32

B.        .52

C.        .94

D.        .92

E.         .38

 

2.         Suppose that for a certain football game the probability that the home team will be            ahead at half-time is 0.60 and the probability that the home team will be ahead at half-            time as well as at the final gun is 0.45.  What is the probability that the home team will         win this game given that it is ahead at the half?

 

A.        .45

B.        .75

C.        .15

D.        .27

E.         None of the above.

 

3.         A company markets two products (Product A and Product B) through mail order.  The     company will market them in sequence with the first mail order offer for product A.  It f feels that there is a 30% chance that any customer will purchase product A. Product B is        offered some months later.  It is felt, for product B, that there is a 30% chance of selling          product B to a customer if the customer purchased product A and a 5% chance of             selling product B to a customer who did not purchase product A.

 

            What is the probability of not selling product B to a particular customer?

 

A.        .875

B.        .665

C.        .125

D.        .210

E.         None of the above

 

 

4.         A quality control department finds that it accepted only 5% of all bad items and it            rejected only 1% of good items. A supplier has just delivered a shipment of a certain             item. Past records show that only 90% of the parts of that supplier are good. If the       department accepts an item, what is the probability that the item is bad?  Round your     answer to five decimal places.

 

A.        0.05000

B.        0.00558

C.        0.35714

D.        0.09635

E.         None of the above

 

5.         The probability that house sales will increase over the next six months is estimated at         0.25. It is also estimated that the probability is 0.74 that 30 year fixed-loan mortgage        rates will increase over this period. Economists estimate that the probability is 0.89 that             either housing sales or interest rates will increase.

 

      The probability that both house sales and interest rates will increase is estimated at:

      A.        .100  

      B.        .185 

      C.        .705 

      D.        .900

      E.         .500

 

6.         Over the last 100 business days, Harry had 20 customers on 30 of those days, 25   customers on 20 days, 35 customers on 30 days, 40 customers on 10 days, and 45       customers on 10 days. What is the variance of the number of Harry’s customers?

 

A.        30

B.        38

C.        59

D.        75

E.         83

 

7.         What is the probability that exactly 1 out of 10 cars experience a breakdown if the probability of a breakdown is 30%?

A.        .5121

B.        .1211

C.        .0282

D.        .3828

E.         .4276

 

8.         An accounts receivable auditor is examining accounts for a client. The accounts     receivable balance can be considered as a continuous random variable that       exhibits normal distribution characteristics. The mean amount due per account is       $5000. The standard deviation is $1000. The auditor selects an account at random.

 

            The probability that the account selected by the Auditor has a balance which is outside     of the range between $6500 and $7000 is:

 

A.        .05

B.        .10

C.        1.20

D.        .96

E.         .00

 

9.         Suppose the length of time (in days) between sales for an automobile salesperson   is          modeled as an exponential distribution with a mean of 2 days. What is the             probability       the salesperson goes more than 5 days without a sale? 

 

A.        .75

B.        .92

C.        .08

D.        .40

E.         None of the above.

 

10.       During lunch time, customers arrive at Joe’s Lunch counter according to a Poisson             distribution with an average of 2 per 30 second period. What is the probability of having      more than two arrivals in a two-minute period?

 

A.        .9863

B.        .9970

C.        .0027

D         .7619

E.         None of the above

 

Use the following to answer questions 11-12

 

The new owner of a beauty shop is trying to decide whether to hire one, two, or three beauticians. She estimates that profits next year (in thousands of dollars) will vary with demand for her services and has estimated demand in three categories low, medium and high.

 

 

11.   If she uses the optimistic criterion, how many beauticians will she decide to hire?

 

A.        one

B.        two

C.        three

D.        either one or two

E.        either two or three 







Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more