BUSN222 REVIEW FOR TEST #1 Quiz 2 1. At BEST BAKERY, the average weight of a sample of 100 loaves of bread was 10.21 ounces. If the population standard deviation for loaves of bread is known to be 2.2...

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BUSN222 REVIEW FOR TEST #1 Quiz 2 1. At BEST BAKERY, the average weight of a sample of 100 loaves of bread was 10.21 ounces. If the population standard deviation for loaves of bread is known to be 2.2 ounces, construct a 99% confidence interval for the population average weight of a loaf of bread. 2. The lengths of widgets at ACME WIDGET are normally distributed with a mean of 15 inches and a standard deviation of 4.34 inches. Provide diagrams. a) What is the probability that a widget selected at random will be less than 17.66 inches? b) If a random sample of 10 students is selected, what is the probability that the sample mean will be less than 17.66 inches? 3. 20% of ACME’s employees are senior citizens. What is the probability that in a random sample of 100 employees, that the sample proportion of senior citizens will be less than 15%? Provide a diagram. 4. ROYAL FINANCE takes a sample of 5 employees and finds that the sample mean hourly rate was $175 with a sample standard deviation of $30. Construct a 90% confidence interval for the population average hourly rate of all Royal Finance employees. 5. From a sample of 400 of its customers, DELITE DONUTS finds that 17% prefer chocolate donuts. Using a 95% level of confidence, estimate the proportion of all customers who prefer chocolate donuts. 6. FORTUNE FINANCING wants to estimate the average account balances of its customers to within $50 with 99% confidence. The population standard deviation is $250. How many accounts should be included in the sample? 7. How many students should be sampled to determine the percentage of female students to within a 3% error at a 95% level of confidence?