1. What do we mean by the direction of the linear relationship between two variables?

Group of answer choices

Direction is used to describe possible directions when arrows are placed on the points

Direction is used to describe if the points are pointing North or South

Direction is used to describe if the points are pointing east or west

Direction describes if the points are rising or falling as you go from left to right

2. Describe the strength and direction of the linear relationship between two variables in which the value of r is between 0.7 and 1

Group of answer choices

strong and moderate

strong and positive

strong and negative

weak and positive

3. True or False: when two variables are strongly correlated, the independent variable causes the dependent variable to behave as observed

Group of answer choices

true

false

4. The regression line can be used to predict the value of the independent variable (x).

Group of answer choices

False

True

The grade point averages (GPAs) of a large population of college students are approximately normally distributed with mean 2.5 and standard deviation 0.7. If students possessing a GPA less than 1.75 are dropped from college, what percentage of the students will be dropped? (Round your answer to two decimal places.)

?? %

The width of bolts of fabric is normally distributed with mean 950 mm (millimeters) and standard deviation 10 mm.

(a) What is the probability that a randomly chosen bolt has a width between 943 and 959 mm? (Round your answer to four decimal places.)

What is the probability that a randomly chosen bolt has a width between 943 and 959 mm? (Round your answer to four decimal places.)

(b)

What is the appropriate value for C such that a randomly chosen bolt has a width less than C with probability 0.8749? (Round your answer to two decimal places.)

C =

Statistic

Q3(a) To estimate the mean amount of time children spend in physical activities daily, a researcher randomly selects 8 children and records the number of hours they spend in physical activities in one day. The numbers of hours are: 4.1, 1.2, 4.6, 2.4, 3.2, 1.8, 2.4, and 0.7. Obtain a 95% confidence interval of the mean number of hours that children spend in physical activities.

Q3(b) It is found that the average lifespan of 100 smart phones is 23.5 months with a standard deviation of 10.2 months. Construct the 99% confidence interval for the mean lifespan of all smart phones. State the assumption(s) made.

Q3(c) A machine produces DVD discs. The diameters of these DVD discs vary, and the standard deviation is 0.01 centimeter. How large a sample should be taken if we wish to have 95% confidence that our sample mean will not differ from the true mean by more than 0.001 centimeter?

Disadvantage groups, notably Blacks and Hispanics. Have had smaller high school graduation rates and so less access to college than Whites. Among those with college degrees is an educational success beyond college similarly affected? To address this question use the data below. sample of 30-year-old Americans with college degrees.

Highest Degree. Whites Black Hispanic Row Totals

College 5030 549 412 5991

Advanced 1324    117 99 1540

Columm totals 6354 668 511 7634 (grand)

a) state appropriate hypotheses

b) Find the degree of freedom

Compute the expected values for the entries for Hispanics. Compute the corresponding contributions to x^2. To save time here are the contributions of x² from the cells of white and blacks: 0.12, 0.7, 0.47, and 2.70.

d) conduct the appropriate test and give (an estimate of) p-value.

e) give an appropriate conclusion in statistical and everyday language.

Today, the waves are crashing onto the beach every 5.8 seconds. The times from when a person arrives at the shoreline until a crashing wave is observed follows a Uniform distribution from 0 to 5.8 seconds. Round to 4 decimal places where possible.

1)The probability that wave will crash onto the beach exactly 1.5 seconds after the person arrives is P(x = 1.5) = The probability that it will take longer than 4.06 seconds for the wave to crash onto the beach after the person arrives is P(x > 4.06) =

2)Suppose that the person has already been standing at the shoreline for 0.7 seconds without a wave crashing in. Find the probability that it will take between 2.9 and 5.4 seconds for the wave to crash onto the shoreline.  ________

3)62% of the time a person will wait at least how long before the wave crashes in? ___________seconds.

4)Find the minimum for the lower quartile. _____________ seconds.

A farmer in Addison County has 600 acres of land that can be used to grow corn

and/or soybeans. The net profit per acre is $60 for soybeans and $55 for corn. In addition to   

the land constraint, the farmer has limited labor resources: 200 hours of labor available for

planting, and 300 hours of labor available for cultivation. Labor required for planting is 0.6

hour per acre for corn and 0.7 hour per acre for soybeans. Cultivation is only necessary for

corn production which requires 0.5 hour per acre. Also, corn yield is known to be 70

bushels per acre and the farmer does not want to produce more than 21,000 bushels of corn

due to the limited storage space. Develop a linear programming (LP) model for the farmer  

to maximize the total profit (you do not need to solve your LP model) in three steps

(1)

(2)

(3)

A farmer in Addison County has 600 acres of land that can be used to grow corn

and/or soybeans. The net profit per acre is $60 for soybeans and $55 for corn. In addition to   

the land constraint, the farmer has limited labor resources: 200 hours of labor available for

planting, and 300 hours of labor available for cultivation. Labor required for planting is 0.6

hour per acre for corn and 0.7 hour per acre for soybeans. Cultivation is only necessary for

corn production which requires 0.5 hour per acre. Also, corn yield is known to be 70

bushels per acre and the farmer does not want to produce more than 21,000 bushels of corn

due to the limited storage space. Develop a linear programming (LP) model for the farmer  

to maximize the total profit (you do not need to solve your LP model) in three steps

(1)

(2)

(3)

The table below shows a ratio of 4 companies.
retail jewelry, advertising agency, heavy equipment manufacturer and bank.

(a)

i) Interpret the table and briefly discuss why company (1) is a bank?

ii) Interpret the ratios in the table shown in part (a) to identify the remaining (3) company and briefly discuss the reason?

iii) Morgan and Miller Proposition I with taxes suggest that optimal capital structure should be close to 100% debt. Yet the companies (with the exception of Company 1) in the table have debt level very much less than 100% as shown by debt-equity ratio. Briefly explain why?

1. President Roosevelt believed that the loss of the NRA would be temporary as pressure would be exerted by ____ for a newer version.

a. businessmen

b. bureaucrats

c. politicians

d. voters

e. foreign tourists

2. The tax bill of 1935 is generally referred to as the:

a. “soak the rich” tax increase.

b. “soak the monopolies” tax increase.

c. “soak the speculator” tax increase.

d. “lesser burden on the middle class” tax decrease.

e. “lesser burden on the poor” tax decrease.

3. What changes did the Fed make in 1936 and 1937 that caused/contributed

to the depression of 1937?

a. They engaged in the open market sale of bonds.

b. They engaged in the open market purchase of bonds.

c. They raised the required reserve ratio on banks.

d. Both A and C of the above.

e. Both B and C of the above.

4. FDR’s acceptance speech for his party’s nomination to run for a second terms has been characterized as:

a. an attack on socialism.

b. an endorsement of socialism.

c. an endorsement of communism.

d. an endorsement of free enterprise.

e. an attack on free enterprise.

5. According to Smiley, which of the following is true about U.S. economic performance during World War II?

a. Unemployment fell and leveled off at about 5%.

b. Measured inflation was low, in part because of price controls and rationing.

c. The money supply grew by about 1% per year, keeping inflation low.

d. While the official data shows that consumption fell, Smiley calls that “suspect” and argues that in fact it rose significantly.

e. All of the above.

6. What does Smiley argue about World War II that helped the U.S. become prosperous in the 1940s?

a. More women entered, and stayed, in the labor force.

b. Military spending helped spur technological change.

c. Americans shifted from being pessimistic about the future to being optimistic.

d. The war helped promote increased world trade.

e. All of the above.

7. Which of the following does Smiley argue was not an outgrowth of the Great Depression?

a. The rise in the welfare state.

b. The growth in the regulatory state.

c. Increased federalism.

d. An end to the gold standard.

e. Increased power to individual states rather than the federal government.

A new publicly financed bridge is expected to reduce the cost of auto travel between two areas by Php1 per trip. This cost reduction to motorists consists of a reduction in travel time, auto depreciation and petrol expenses totaling Php1.50 per trip, less the Php0.50 bridge toll which the government will collect. Before the bridge was built there were 1 million trips per year between the two areas. Once the bridge is in operation, it is estimated that there will be 1.5 million trips per year between the two areas. In terms of areas under the demand curve, what is the annual benefit of the bridge:

To motorists?

To the government?

What other referent group benefits would need to be considered in a social benefit/cost analysis?