Question

A report announced that the mean sales price of all new houses sold one year was $272,000. Assume that the population standard deviation of the prices is $100,000. If you select a random sample of 100 new houses, what is the probability that the sample mean sales price will be between $250,000 and $285,000?

Select one:

a. 0.1388

b. 0.8034

c. 0.2956

d. 0.8893

Jurgen is taking ISOM2002 in the current semester and he suspects that there are not too many students in the course have submitted all the assigned work (online exercises and assignments). He claims that there is no more than 70% of the students have done it. He asked around 20 friends who are also studying ISOM2002 in the current semester, and 15 of them said they had submitted all the assigned work. Suppose Jurgen would like to use hypothesis testing to support his claim, what would be the type II error in his test?

Select one:

a. He concluded that there were less than 70% of all the students who had submitted all the assigned work but in fact the percentage was no less than 70%.

b. He concluded that there were no less than 70% of all the students who had submitted all the assigned work but in fact the percentage was less than 70%.

c. He concluded that there were no more than 70% of all the students who had submitted all the assigned work but in fact the percentage was more than 70%.

d. He concluded that there were more than 70% of all the students who had submitted all the assigned work but in fact the percentage was no more than 70%.

Which of the following is not a characteristic of a normal variable?

Select one:

a. It is a continuous random variable.

b. The probability of each individual value is virtually 0.

c. The mean and the median are always the same.

d. It assumes a countable number of values.

Answer 1

Let X denote the sale price of all new houses sold