In: Operations Management
1. Nineteenth century liberalism included the idea of all of the following except
a. property qualifications for voting.
b. women's suffrage.
c. a government of limited powers.
d. protection of basic civil rights.
e. a constitutional state or government.
2. The so-called "scramble" for Africa occurred
a. between 1815 and 1850.
b. during the French Revolution.
c. between the 1880s and 1900.
d. in the 1500s.
e. in the 1600s.
3. Woodrow Wilson's peace goals included all of the following except
a. punishment of Germany for starting the war.
b. open covenants of peace instead of secret diplomacy.
c. reduction of national armaments.
d. self-determination.
e. a general association of nation to guarantee territorial integrity.
4. The Suez Canal is in what nation?
a. Panama.
b. Italy.
c. Germany.
d. Egypt.
e. Great Britain.
5. Economically, colonies were important in
a. providing markets for manufacturing items produced in the mother
country.
b. producing manufactured goods to be sold in the mother country.
c. providing soldiers for the colonial armies.
d. purchasing raw materials from the mother country.
e. investing financial resources in the mother country.
In: Economics
1. The length of human pregnancies from conception to birth varies according to a distribution that is approximately Normal with mean 266 days and standard deviation 16 days. About 68% of all pregnancies last between
a. 250 and 282 days b. 234 and 298 days c. 218 and 314 days d. 250 and 266 days
2. The distribution of actual weights of chocolate bars produced by a certain machine is approximately Normal with mean 8.2 ounces and standard deviation of 0.1 ounces. What proportion of chocolate bars weigh under 8 ounces?
a. 13.5% b. 34% c. 16% d. 2.5%
3. Sixteen weighings of a small object on a sensitive scale result in 5.15 grams 4 times, 5.35 grams 4 times, 5.20 grams, 4 times and 5.30 grams 4 times, 16 total. If the standard deviation σ of weighings on this scale is .8 grams, what is an approximate 95% confidence interval for the true weight of the object?
4. A survey of 900 gun-owners who frequent a popular shooting range in Texas had a nearly 100% response rate. If only 18% of the respondents thought more laws on gun control should be enacted, the conclusion that less than 20% of people in the region support more gun laws would certainly be dubious due to which of the following?
a. large standard deviation of samples of size 900 b. nonresponse from the sample
c. sampling bias of respondents d. small sample size
5. Scores on a test for 8th graders range from 0 to 500. In a SRS of 400 students, the mean score is 335 and the standard deviation is 70. The standard deviation of the sampling distribution of x̅400 is what?
6.The weights of a sample of 400 2-year-olds in Kentucky yields
x̅400 is 21.2 pounds with a standard deviation of σ = 3
pounds. What is a 95% confidence interval for the weight of all
two-year-olds in Kentucky?
a. 18.2-21.5 pounds b. 15.2-27.2
pounds c. 21.185-22.015
pounds d. 20.9-21.5 pounds
7.When finding confidence intervals, the interval is smaller if
a.sample size and standard deviation are bigger b.sample size and standard deviation are smaller
c.sample size is bigger, but the standard deviation is smaller d.sample size is smaller, but standard deviation is bigger.
8. If the birth weights of the babies born annually in a hospital is Normal with a mean of 5 pounds 10 ounces and a standard deviation of 5 ounces, what percentage of babies are born weighing less than 5 pounds? (No table needed.)
a. 13.5% b. 2.5% c. 16% d. .3%
9. What percent of the babies born weigh between 5 pounds and 5 pound 5 ounces? (Again no table.)
a. 13.5% b. 47.5% c. 16% d. 34%
10. Of the 40 babies born during the first weeks of next month, how many are likely to be under five pounds?
a. 4 b. 2 c. 6 d. 1
11.) A random sample of 1,600 adults in a certain country shows that 72% have smart phones. What is a 80% confidence interval for the percentage of adults having smart phones in this country?
12.If 48% of the 400 voters sampled voted for candidate A over candidate B, what is a 95% confidence for p hat, the estimate for the percentage candidate p that A would receive?
13.Twenty-five randomly selected students are asked how many times a month they eat pizza. The average for this sample is x̅25= 11.75 times,but the population mean of all college students is claimed to be μ = 10.60 times. If the null hypothesis is H0 is μ = 10.60 times and the standard deviation σ = 5 times, should the null hypothesis be rejected at the 5% level of significance? (No table needed)
14. Is the distribution of incomes in the US described by a normal distribution with μ equal to the mean income?
15. The weights of baby orangutans has standard deviation 4 pounds. How large a sample of baby orangutans is necessary for the 95% margin of error to be .5 pounds?
a. 144 b. 324 c. 256 d. 900
16. A car manufacturer says their cars average 26 miles per gallon of gas at 65 miles per hour a standard deviation of σ = 2 miles per gallon.. A Consumer group tested 100 such cars and found the average x̅100 to be 25.4 miles per gallon. Is this sufficiently small to reject the null hypothesis H0: μ = 26 miles per gallon? (No table needed.)
a. Yes b. No c. Not enough information.
17. What is the probability that z, the standard normal distribution, is less than 1.75 standard deviations below the mean of zero?
a. 5% b. 4% c. 6% d. 7.4%
18. If two random samples of the heights of adult males in New York are taken, one of 400, the other of 900 people, which one would likely have the larger range from shortest to tallest?
a. the 400 person sample b. the 900 person sample c. they’d be equal
19. The p-value of a test of the null hypothesis is 3.5%. This means
a. the hypothesis is true with probability 3.5% or possibly less than 3.5% b. the alternative hypothesis is true with probability 3.5% or possibly less c. 3.5% is the probability of finding the observed or more extreme results when the null hypothesis (H 0) is true d. None of the above
20. One of the main reasons to be interested in the regression line of y on x is that
a. one can use it to predict y-values from different x-values b. one can determine the standard deviation of y
c. one can determine from it the values of the quartiles of x and y.
In: Statistics and Probability
Exercise 1: Tariffs and Elasticity
A country imports 5 billion tonnes of coal per year and domestically produces another 4.5 billion tonnes of coal per year. The world price of coal is $50 per tonne. Assuming linear schedules, economists estimate the price elasticity of domestic supply to be 0.3 and the price elasticity of domestic demand to be 0.2 at the current equilibrium. Consider the changes in social surplus that would result from imposition of a $20 per tonne import fee on coal that would involve annual administrative costs of $125 million. Assume that the world price will not change as a result of the country imposing the import fee, but that the domestic price will increase by $20 per tonne. Assume national standing. Calculate the following:
(a) Quantity consumed after the imposition of the import fee.
(b) Quantity produced after the imposition of the import fee.
(c) Quantity imported after the imposition of the import fee.
(d) Estimate the annual social net benefits of the import fee.
In: Economics
Magana, a private limited company in tourism industry, in order to improve customer services and provide management with timely and quality information, the company is contemplating purchasing 6 microcomputers at sh 112000 each. Installation cost for all of them will amount sh 60,000.It is estimated that once installed the company will increase pre-tax operating benefit from sh 11, 769,000 to sh 11,995,000 annually. Computers are expected to last for 8 years after which this will be obsolete with no residue value. The operations manager argues the company needs will have to grow the computers in only 5 years. The computers will be salvaged for 32,000 each after 5 years 30% tax bracket. The cost of capital is 16% and straight line method of depreciation is used to depreciate all fixed assets.
Required.
a] Suppose the probability useful life of these computers is determined as follows;
Probability useful life
0.3 5 years
0.5 8 years
0.2 10 years
Determine whether Magana should purchase the computers.
In: Finance
Problem 1
The manager of a construction company must decide whether to build single family homes, apartments, or condominiums. Profits (in thousands of dollars) are given in the following table and depend on various possible population trends. The probability of a declining population is 0.3, the probability for a stable population is 0.5 and the probability of a growing population is 0.2
Payoff table (in thousands of dollars):
|
Population |
|||
|
Declining |
Stable |
Growing |
|
|
Single Family Homes |
220 |
80 |
75 |
|
Apartments |
85 |
175 |
100 |
|
Condominiums |
30 |
90 |
240 |
a) If the manager is an extreme optimist, which alternative would she choose?
b) If the manager is an extreme pessimist, which alternative would she choose?
c) If the manager wants to minimize maximum regret, which alternative should she choose?
d) If the manager wants to maximize expected values, which alternative should she choose?
e) What is the most amount of money that she should be willing to spend to get more information about the possible population trends?
In: Statistics and Probability
use python.
Consider 4 blocks with different masses mi connected by ropes of negligible mass. Three of the blocks lie on an inclined plane and the fourth lies in the direction of the gravity vector. The coefficients of friction between the blocks and the inclined plane are µi. The equations of motion governing these four blocks are described by the following system of equations:
T1 + m1a = m1g(sin(theta) - µ1*cos(theta))
-T1 + T2 +m2a = m2g(sin(theta) - µ2*cos(theta))
-T2 + T3 + m3a = m3g(sin(theta) - µ3*cos(theta))
-T3 + m4a = -m4g
Where the Ti denote the tensile forces in the ropes and a is the acceleration of the system. Determine a and the three Ti for θ = 45°, g = 9.82 m/s2 , {mi} = [10, 4, 5, 6]^T kg, and {µi} = [0.25, 0.3, 0.2]^T
The output to the command terminal prompt within Spyder should read:
T1 =
T2 =
T3 =
a =
All values should be printed out to 4 significant digits of accuracy and units must be assigned.
In: Mechanical Engineering
An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities:
P(high-quality oil) = .3
P(medium-quality oil) =.5
P(no oil) = .2
a. What is the probability of finding oil (to 1 decimal)? ______
b. After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular type of soil identified by the test are given below:
P(soil/high-quality oil) = 0.3
P(soil/medium-quality oil) = 0.5
P(soil/no oil) = 0.2
Given the soil found in the test, use Bayes' theorem to compute the following revised probabilities (to 4 decimals).
P(high-quality oil/soil) = _____
P(medium-quality oil/soil) = _____
P(no oil/soil) = ______
What is the new probability of finding oil (to 4 decimals)? _____
According to the revised probabilities, what is the quality of oil that is most likely to be found?
^High quality, medium quality, or no oil?
In: Statistics and Probability
A facility has a waste storage tank with a capacity of 40 cubic feet. Each week the tank produces either 0, 10, 20, or 30 cubic feet of waste with respective probabilities of 0.1, 0.4, 0.3, and 0.2. If the amount of waste produced in a week creates a situation where the tank would overflow, the amount exceeding the tank’s capacity can be removed at a cost of $3 per cubic foot. At the end of each week, a contracted service is available to remove waste. The service costs $40 for each visit plus $1 per cubic foot of waste removed. The facility manager decides to adopt a policy where, if the tank contains more than 20 cubic feet of waste, the contract service comes at the end of the week and removes all of the waste in the tank. Otherwise, the service does not come, and no waste is removed. Model the amount of waste in the tank as a Markov chain. Pay particular attention to when (at what point in the week) the amount of waste is measured or recorded
In: Math
1) The daily demand, D, of sodas in the break room is:
| D | 0 | 1 | 2 | 3 |
| P=(D=d) | 0.1 | 0.2 | 0.4 | 0.3 |
i) Find the probability that the demand is at
most 2.
ii) Compute the average demand of sodas.
iii) Compute SD of daily demand of sodas.
2) From experience you know that 83% of the
desks in the schools have gum stuck
beneath them. In a random sample of 14 desks.
a) Compute the probability that all of them have
gum underneath.
b) Compute the probability that 10 or less desks
have gum.
c) What is the probability that more than 10 have
gum?
d) What is the expected number of desks in the
sample have gum?
e) What is the SD of the number of desks with
gum?
3) The number of customers, X, arriving in a
ATM in the afternoon can be modeled
using a Poisson distribution with mean 6.5.
a) Compute P(X<3).
b) Compute P(X>4).
c) SD of X.
In: Math