BCO127 Applied Management Statistics Task brief & rubrics

Task: Midterm Assignment

· individual

· file format: .doc or .pdf.

Formalities:

· Wordcount: No more than 1000 words. All questions should be answered.

· Cover, Table of Contents, References and Appendix are excluded of the total wordcount.

· Font: Arial 12,5 pts.

· Text alignment: Justified.

· The in-text References and the Bibliography have to be in Harvard’s citation style.

Submission: Sunday, 14th of March, Time: 23:55.

Weight: This task is a 40% of your total grade for this subject.

It assesses the following learning outcomes:

· Ability to make conclusions from the data given

· Ability to compute probabilities of interest for Standard Normal random variable

· Ability to compute and interpret probabilities for any normally distributed random variable

Question 1 (40 points):

The waiting time is a time client needs to spend in a given bank office to solve the issue needed.

Below you have two bank branches samples of waiting time data in minutes:

Branch 1:

Branch 2:

Question 2 (40 points):

Random variable Z follows the standard normal distribution (with mean = 0 , and standard deviation =1), compute the following probabilities:

Question 3 (20 points):

Random variable X follows the normal distribution (mean=50, standard deviation=4). Compute the following probabilites: