Most of these problems are done using excel. 1. Expense ratios for 20 mutual fun
ID: 3057440 • Letter: M
Question
Most of these problems are done using excel.
1.Expense ratios for 20 mutual funds are given below.
Expense Ratios:
Calculate thelements of a box plot for the data. Determine if there are any outliers.
2. An aircraft wing seam requires 30 rivets. The seam will have to be reworked if any of the rivets is defective.Rivets are defective independently of one another with equal probability of 0.05. What is the probabilit that a seam will need reoworking?
3. At a certain gas sation 40% of the customers use regular gas (A1), 35% of the customers use plus gas (A2), and 25% use premium gas (A3). Of those fill regular gas only 30% fill their tanks. Of those using plus gas, 60% fill their tanks, whereas those using premium, 50% fill their tanks.
(Call event B = that one fills her tank; Hint: given above that P(B | A2) = .6)
(i) What is the probability that a customer l use regular gas and fill the tank? i.e. (P B)
(ii) What is the probability tht a customer fills tank (P(B))?
(iii) If a customer fills her tank, what is the probability she has selected premium gas i.e., P(A3|B)?
Please explain how you got each answer please!
0.09 0.25 0.64 0.78 0.79 0.84 0.93 0.94 1.03 1.05 1.05 1.23 1.25 1.26 1.27 1.3 1.61 1.64 2.86 5.5Explanation / Answer
1)
The elements of box plot and their formulas are as shown below: -
Expense Ratios 0.09 0.25 0.64 0.78 0.79 0.84 0.93 0.94 1.03 1.05 1.05 1.23 1.25 1.26 1.27 1.3 1.61 1.64 2.86 5.5 0.09 Min 0.8025 Q1 (n+1)/4 1.05 Median (n+1)/2 1.2925 Q3 3(n+1)/4 5.5 MaxRelated Questions
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