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Question 1 (2.5 points)During its grand opening week, Stickler’s bicycle shop offers a “wheel of discount savings.” After customers select the items they wish to purchase, they spin the wheel to determine the discount they will receive. The wheel is divided into 12 slices. Six slices are red and award a 10% discount, three slices are white and award a 20% discount, and two slices are blue and award a 40% discount. The remaining slice is gold and awards a 100% discount! What is the probability that a customer does NOT get at least a 40% discount?

Question 1 options:

.25

.35

.50

.75

Question 2 (2.5 points)During its grand opening week, Stickler’s bicycle shop offers a “wheel of discount savings.” After customers select the items they wish to purchase, they spin the wheel to determine the discount they will receive. The wheel is divided into 12 slices. Six slices are red and award a 10% discount, three slices are white and award a 20% discount, and two slices are blue and award a 40% discount. The remaining slice is gold and awards a 100% discount! What is the probability that two customers in a row will get a 20% discount?

Question 2 options:

.0250

.0625

.2500

.6250

Question 3 (2.5 points)A fast food restaurant just leased a new freezer and food fryer for three years. The service contract for the freezer offers unlimited repairs for a fee of $125 a year plus, a $35 service charge for each repair needed. The restaurant’s research indicates that during a given year 80% of these freezers need no repairs, 11% needed to be serviced once, 5% twice, 4% three times, and none required more than three repairs. What are the mean and standard deviation of the restaurant’s annual expense with the service contract for the freezer?

Question 3 options:

$128.65; $25.20

$128.65; $35.60

$136.55; $25.20

$136.55; $35.60

Question 4 (2.5 points)A small business just leased a new computer and color laser printer for three years. The service contract for the computer offers unlimited repairs for a fee of $100 a year, plus a $25 service charge for each repair needed. The company’s research indicates that during a given year 86% of these computers need no repairs, 9% need to be repaired once, 4% twice, 1% three times, and none required more than three repairs. Find the expected number of repairs for this kind of computer per year.

Question 4 options:

.20 repairs

.26 repairs

.30 repairs

.34 repairs

Question 5 (2.5 points)Suppose that incoming calls per hour to a customer service center of a small credit union are uniformly distributed between 0 and 6 calls. What is the probability that fewer than 3 calls are received per hour?

Question 5 options:

2/7

3/7

4/7

0

Question 6 (2.5 points)Internet service providers (ISP) need to resolve customer problems as quickly as possible. For one ISP, past data indicates that the likelihood is .80 that customer calls regarding Internet service interruptions are resolved within one hour. Out of the next 10 customer calls about interrupted service, answer the following question. What is the probability that exactly 7 will be resolved within one hour?

Question 6 options:

.2003

.2013

.2103

.2413

Question 7 (2.5 points)A small business just leased a new computer and color laser printer for three years. The service contract for the computer offers unlimited repairs for a fee of $100 a year, plus a $25 service charge for each repair needed. The company’s research indicates that during a given year 86% of these computers need no repairs, 9% need to be repaired once, 4% twice, 1% three times, and none required more than three repairs. What are the mean and standard deviation of the company’s annual expense with the service contract for the computer?

Question 7 options:

$110; $13.69

$105; $13.69

$110; $13.75

$105; $13.75

Question 8 (2.5 points)One explanation put forth for the dearth of women CEOs in the high tech industry is that there is a lack of mentoring opportunities for women. A recent survey of CEOs in that industry found that 80% were men. Moreover, 75% had been mentored while only 15% were women and had been mentored.

Men Women

Mentored .60 .75

Not Mentored .20 .05 .25

.80 .20 1.00

What percentage of women are mentored?

Question 8 options:

10%

15%

20%

25%

Question 9 (2.5 points)A service station stocks a specific automotive part in its inventory that has an 8% chance of being defective. Suppose many cars come into the service station needing this part each week. What is the expected number of parts retrieved until the first defective part?

Question 9 options:

9.5 parts

11.0 parts

12.0 parts

12.5 parts

Question 10 (2.5 points)During its grand opening week, Stickler’s bicycle shop offers a “wheel of discount savings.” After customers select the items they wish to purchase, they spin the wheel to determine the discount they will receive.