1In standard normal distribution the means is always (Points : 3) |

2. The area under the standard normal curve is (Points : 3) |

3. 3.If Larry gets a 70 on a physics test where the mean is 65 and the standard deviation is 5.5.8, where does he stand in relation to his classmates? (Points : 3) |

4. In a normal distribution with mu = 25 and sigma = 3, what number corresponds to z = -3? (Points : 3) |

5. Let s assume you have taken 100 samples of size 49 each from a normally distributed population. Calculate the standard deviation of the sample means if the population s variance is 16. (Points : 3) |

6. The area to the left of z is 0.9976. What z-score corresponds to this area? (Points : 3) |

7. Find P(9 |

8. What is the critical z-value that corresponds to a confidence level of 88%? (Points : 3) |

9. Compute the population mean margin of error for a 95% confidence interval when sigma is 4 and the sample size is 36. (Points : 3) |

10. A standard IQ test has a mean of 98 and a standard deviation of 16. We want to be 90% certain that we are within 8 IQ points of the true mean. Determine the sample size. (Points : 3) |

11. A private medical clinic wants to estimate the true mean annual income of its patients. The clinic needs to be within $200 of the true mean. The clinic estimates that the true population standard deviation is around $1,300. If the confidence level is 95%, find the required sample size in order to meet the desired accuracy. (Points : 6) |

112. An auditor wants to estimate what proportion of a bank s commercial loan files are incomplete. The auditor wants to be within 7% of the true proportion when using a 95% confidence level. How many files must the auditor sample? No estimate of the proportion is available, so use 0.5 for the population proportion. (Points : 6)QuestionsIInterpret a 90% confidence interval of (4.355, 4.445) for a population mean. |

A nursing school wants to estimate the true mean annual income of its alumni. It randomly samples 200 of its alumni. The mean annual income was $55,200 with a standard deviation of $1,500. Find a 95% confidence interval for the true mean annual income of the nursing school alumni. Write a statement about the confidence level and the interval you find

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## MARKETING MANAGEMENT:MARKETING ANALYSIS

MAY 11, 2014 NO COMMENTS

1) Explain the following concepts :

– Market potential

– Market demand

– Company or brand demand

Discuss how each of the concepts could be usedin the marketing management of the following:

(a) MP3 players for automobiles

(b) Global positioning systems(GPS) for combination cell phone/personal computer products

(c) Long-term care insurance (nursing home cost coverage) for the elderly

(d) Diet centers for women

Instruction:

There is no word limit.