Q1. One hundred policyholders file claims with StressFree Insurance. Ten of these claims are fraudulent. Claims manager Emma Ropati randomly selects four of the ten claims for thorough investigation. If X represents the number of fraudulent claims in Emma's sample, X has a ___________.
A. normal distribution
B. hypergeometric distribution, but may be approximated by a binomial
C. binomial distribution, but may be approximated by a normal
D. binomial distribution, but may be approximated by a Poisson
Q2. On Saturdays, cars arrive at Sandy Schmidt's Scrub and Shine Car Wash at the rate of 6 cars per fifteen minute intervals. Using the Poisson distribution, the probability that five cars will arrive during the next five minute interval is _____________.
A. 0.1008
B. 0.0361
C. 0.1339
D. 0.1606
Q3. Suppose you are working with a data set that is normally distributed with a mean of 400 and a standard deviation of 20. Determine the value of x such that only 1% of the values are greater than x.
A. 446.6
B. 353.4
C. 400.039
D. 405
Q4. According to the Australian Department of Industry, Tourism and Resources (DITR), 8.6% of the total employment in NSW is related to manufactured exports. A sample of 200 employees in NSW is randomly selected. If X is the number of employees in the sample with jobs related to manufactured exports, then the standard deviation of X is _______________.
A. 8.60
B. 17.20
C. 15.72
D. 3.96
Q5. Financial analyst Ben Taimana needs a sample of securities listed on the New Zealand Stock Exchange. He decides to select the sample from the NZ Investing Journal's Composite Transactions, an alphabetical listing of all securities traded on the previous business day. The NZ Investing Journal's Composite Transactions is _____________.
A. a poll
B. a frame
C. Ben's sampling distribution
D. Ben's target population