QNT 275 Week 3 :My StatLab Solution Guid

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Solution is in the PDF Formate and it is solved Sample and Guide you How to Answer the Questions. 

  1. The clothing buyer for a chain of department stores wants to be sure the store orders the right mix of sizes. As part of a​ survey, she measured the height​ (in inches) of men who bought suits at this store. Her software reported the confidence interval shown below. Complete parts a through d. With 90​.00% ​confidence, 70.4701< μ <74.4953
  2. The following formula expresses the expected amount lost when a borrower defaults on a​ loan, where PD is the probability of default on the​ loan, EAD is the exposure at default​ (the face value of the​ loan), and LGD is the loss given default​ (expressed as a​ decimal). For a certain class of​ mortgages, 77​% of the borrowers are expected to default. The face value of these mortgages averages ​$170 comma 000170,000. On​ average, the bank recovers 8080​% of the mortgaged amount if the borrower defaults by selling the property. Complete a through c below. Expected Loss equals PD times EAD times LGDExpected Loss=PD×EAD×LGD
  3. A sample of 300300 orders for​ take-out food at a local pizzeria found that the average cost of an order was ​$2424 with sequals=​$1616.
    1. Find the margin of​ error, if we use a​ 95% confidence​ interval, for the average cost of an order.
    2. Interpret for management the margin of error.
    3. If wenbsp need to be 9999​% ​confident, does the confidence interval become wider or​ narrower?
    4. Find the 9999​% confidence interval.
  4. An accounting firm is considering offering investment advice in addition to its current focus on tax planning. Its analysis of the costs and benefits of adding this service indicate that it will be profitable if​ 40% or more of its current customer base use it. The firm plans to survey its customers. Let p denote the proportion of its customers who will use this service if​ offered, and let ModifyingAbove p with caretp denote the proportion who say in a survey that they will use this service. The firm does not want to invest in this expansion unless data show that it will be profitable. Determine whether the following statement is true or false. If the statement is​ false, explain why it is false.

    If ModifyingAbove p with caretp is larger than​ 0.4, a test will reject the appropriate null hypothesis for this context.

  5. Consider the following test of whether a coin is fair.
    Toss the coin fivefive times. If the coin lands either all heads or all​ tails, reject
    H0: p=1/2. ​(The p denotes the chance for the coin to land on​ heads.)
    Complete parts a and b.
  6. A company that stocks shelves in supermarkets is considering expanding the supply that it delivers. Items that are not sold must be discarded at the end of the​ day, so it only wants to schedule additional deliveries if stores regularly sell out. A​ break-even analysis indicates that an additional delivery cycle will be profitable if items are selling out in more than 6262​% of markets. A survey during the last week in 4040 markets found the shelves bare in 3232. Complete parts​ a-c.
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