Project #158992 - Quantitative Analysis

Business Tutors

Subject Business
Due By (Pacific Time) 12/06/2016 05:30 pm

Question 1

a) The following data represent the number of years patients survived after being diagnosed with terminal cancer: 0.4, 0.5, 0.6, 0.6, 0.6, 0.8, 0.8, 0.9, 0.9, 0.9, 1.2, 1.2, 1.3, 1.4, 2.1, 2.4, 2.5, 4.0, 4.5, 4.6

(i) Construct a stem-and-leaf display (6 marks)

(ii) Supposedly you are inserting the above stem-and-leaf display in a report to be submitted to management, write a short comment on the diagram. (4 marks)

b) The following data shows the weight (in kg) of 13 crabs found in a restaurant on a particular evening: 3.4 1.2 1.7 2.4 2.4 1.1 0.9 0.8 1.2 1.6 0.7 1.2 1.3

(i) Compute the mean and median. (3 marks)

(ii) Determine the shape of the distribution based on the sample data. Explain your conclusion. (2 marks)

Question 2

(a) It is noted that 8% of Kaplan students are left handed. If 20 (TWENTY) students are randomly selected, calculate the

i. probability that none of them are left-handed, (2 marks)

ii. probability that at most 2 are left-handed, (3 marks)

iii. standard deviation for the number of left-handed students (2 marks)

(b) If 50 (FIFTY) classes of 20 (TWENTY) students are randomly selected, what is the probability that 10 (TEN) classes have no left-handed students? (3 marks)

 

Question 3

(a) Superior Construction Pte Ltd is a successful company dealing with many major projects in Singapore. Recently, it has submitted its biddings for two major Government projects. Project A worth about $120 million and the company believes it has 40% chance of securing the project. Project B worth $1.8 billion and there is 30% chance the company can win the project. Both projects are independent of each other. What is the probability that the company:

i. will secure Project A or B but not both (3 marks)

ii. will not secure Project A or will not secure Project B (3 marks)

(b) Do you agree that “if two events are mutually exclusive then these two events will be independentâ€Â? Why? (5 marks)

(c) Provide one business-related example each, with explanation, for mutually exclusive and independent events. (4 marks)

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