Question

164 employees of your firm were asked about their job satisfaction. Out of the 164, 47 said they were unsatisfied. What is the estimate of the population proportion? What is the standard error of this estimate?

Question 1 options:

	1) Estimate of proportion: 0.713, Standard error: 0.0028.
	2) Estimate of proportion: 0.287, Standard error: 0.0353.
	3) The true population proportion is needed to calculate this.
	4) Estimate of proportion: 0.713, Standard error: 0.0353.
	5) Estimate of proportion: 0.287, Standard error: 0.0028.

As a result of the subprime mortgage crisis of 2008, approximately 17.73% of new mortgage originations went into foreclosure by 2009. Suppose in the Kalamazoo area there were 1,465 homes in which the mortgage originated during this period. What is the probability that greater than 18.27% of the homes would be foreclosed on?

Question 2 options:

	1) -33.5349
	2) 0.2942
	3) 0.5000
	4) <0.0001
	5) 0.7058

You are contacted by a phone-in technical support business that is interested in some information about the amount of time their customers spend on hold. You find out that on average, each caller spends 13.7 minutes on hold with a standard deviation of 1.33 minutes. If you were to take a random sample of 48 callers, you would expect 48% of the time the average hold time would be greater than how many minutes?

Question 3 options:

	1) 13.77
	2) 13.69
	3) 13.63
	4) There is not enough information to determine this.
	5) 13.71

Answer 1