assignment 1 133
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Instructions
Assignments must be completed on MindTap AND a completed workbook with your full completed solutions must be submitted via Sakai. You must submit both in order to receive any credit.
Hardcopies or copies emailed will not be graded.
There is no option for late submissions in MindTap. Failure to submit your submit your assignment on MindTap before the due date will result in zero credit.
Submit your worked data in one single MS Excel Workbook. Start your solution set by using the assignment shell provided on Sakai. Use appropriately labeled worksheets for each problem/section of a problem.
Pay very close attention to the final presentation of your work and make sure it is printready. Prepare all spreadsheets so that they are clear, attractive and easy for the untrained eye to follow and understand. While accurate content and precise execution of the techniques is critical, formatting, typographical and grammatical acuteness is also very important. General sloppiness and inconsistent formatting will lower your grade.
Note: Ignore MindTap warning about textbased answers. All open ended questions will be graded as well. In fact, your grade will depend equally on the accuracy of your analytical techniques and your interpretation of the results.
Assignment files should be named as follows:
 Asg#_FirstInitialLastname
 e.g. Assignment 1 for Michael Phelps would be named Asg1_MPhelps.xlsx
Question 1. 20 points
Suppose that 18% of the employees of a given corporation engage in physical exercise activities during the lunch hour.
Moreover, assume that 57% of all employees are male, and 12% of all employees are males who engage in physical exercise activities during the lunch hour.
A.If you choose an employee at random from this corporation, what is the probability that this person is a female who engages in physical exercise activities during the lunch hour? 
B.If you choose an employee at random from this corporation, what is the probability that this person is a female who does not engage in physical exercise activities during the lunch hour? 
Question 2. 30 points
Suppose it is known that the distribution of purchase amounts by customers entering a popular retail store is approximately normal with mean $75 and standard deviation $20.
A. What is the probability that a randomly selected customer spends less than $85 at this store? 
B.What is the probability that a randomly selected customer spends between $65 and $85 at this store? 
C.What is the probability that a randomly selected customer spends more than $45 at this store? 
D.Find the dollar amount such that 75% of all customers spend no more than this amount. 
E.Find the dollar amount such that 80% of all customers spend at least this amount. 
F.Find two dollar amounts, equidistant from the mean, such that 90% of all customer purchases are between these values. 
Question 3. 50 points
The worksheet named Q3 contains data on the 1995 students who have gone through the MBA program at State University. You can consider this the population of State Universityâ€™s MBA students.
A.Find the mean and standard deviation for each of the numerical variables in this population Find the following proportions:

B.Using the random number method (not StatTools), generate a simple random sample of 100 students from this population, and find the mean and standard deviation of studentsâ€™ age. Is there any way to know (without the information in Part A) whether your summary measures for the sample are lower or higher than the (supposedly unknown) population summary measures? 
C.Use StatTools to generate 10 simple random samples of size 100. What is the average of these 10 deviations? What would you expect it to be? 
D.We want random samples to be representative of the population in terms of various demographics. 
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