Nationwide Mutual Insurance, based in Columbus, Ohio, is one of the largest diversified insurance and financial services organizations in the world, with more than 157 billion in assets. Nationwide ranked 108th on the Fortune 100 list in 2008.
The company provides a full range of insurance and financial services. In a recent news release Nationwide reported the results of a new survey of 1,097 identity theft victims. The survey shows victims spend an average of 81 hours trying to resolve their cases. If the true average time spent was 81 hours, determine the probability that a test of hypothesis designed to test that the average was less than 85 hours would reject the research hypothesis. Use = 0.05 and a standard deviation of 50.A) 0.0123
B) 0.5182
C) 0.1241
D) 0.1587
Question 2
Dell Computers receives large shipments of microprocessors from Intel Corp It must try to ensure the proportion of microprocessors that are defective is small.
Suppose Dell decides to test five microprocessors out of a shipment of thousands of these microprocessors. Suppose that if at least one of the microprocessors is defective, the shipment is returned.If Intel and Dell agree that Intel will not provide more than 5 defective chips, calculate the probability that the entire shipment will be returned even though only 5 are defective.A) 0.2262
B) 0.3478
C) 0.4564
D) 0.1812
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