A. Tick the answer to both questions

1) Basic financial maths question what is 2.5% of $89000 2) Suppose 89000 students did a test and Mr student gets a mark of 10 which is the 2.5th percentile, in other words P(X<10) =0.025 if X is the quantitative variable test mark. How many students get a mark below 10?

CHOOSE THE ANSWER:

a.242 students got a mark below 10

b.2225 students got a mark below 10

c.2.5% of $8900.00 is $242.50

d.2.5% of $89000.00 is $2225.00

B. suppose in a sample of 100 customer the average waiting time is 22.57 minutes with a standard deviation of 10 minutes

Calculate the t test stat for testing the claim the average waiting time is more than 20 minutes also find the pvalue for testing the claim by entering probability t distribution df=99>test stat

into wolframalpha.com for example if your t test stat is 1.2 enter probability t distribution df=99>1.2 into wolframalpha.com

Note that in question you use wolframalpha.com , You might not have access to wolframalpha,com in the exam but you do have access to the t table, using the t table t,0.05,99 =1.66

so you know the Pvalue will be less than 0.05 if the test stat is more than 1.66

CHOOSE THE ANSWER:

a.the test stat is 2.67

b.the Pvalue is 0.11

c.the Pvalue is 0.01

d.the test stat is 2.57