The final exam for this class is open book/open note. You may use a calculator, ruler, pencil, pen and graph paper on the final. You may not use a cell phone calculator, computer, or any other device with the ability to communicate outside the classroom.
How is this sample final related to the actual final exam? Before the last week of class I created a list of final exam questions. Four of those questions are on the sample final and four are on the final exam. Some questions on the final exam will be related to questions on the sample final (e.g. the same question appears on the final with some numbers changed or some information appears on both exams). The average question on the final exam is likely to be easier than the average question on the sample final. Do not expect the questions on the final exam to be of the same type or to cover exactly the same topics as the questions on the sample final.
a) Binomial Probability Distribution
b) Poisson Probability Distribution
c) Uniform Probability Distribution
d) Normal Probability Distribution
e) Standard Normal Probability Distribution
f) Exponential Probability Distribution
_____ The Merry Melodies MusicMaker computer program "sleeps" for a randomly generated amount of time between each musical note played. What's the average sleep time between notes?
_____ This probability distribution is used only when calcluating probabilities for continuous random variables whose probability density functions are shaped like "bell curves".
_____ What is the probability that five people will call the Merry Melodies customer help line in the next 30 minutes?
_____ The Merry Melodies Senior Service Rep. takes a 5 minute coffee break. What is the probability of a call coming in while she's away from her phone?
_____ MusicMaker and Computer Cacaphony are the leading competitors in the computer music market. What is the probability that the next five customers to buy software will choose MusicMaker over Computer Cacaphony?
_____ What is the probability that a customer will use MusicMaker for less than two months before deleting the game from their computer?
a) Create a joint probability table for programmer bonuses.
b) If a programmer got bonus pay, what is the probability that that programmer was female?
c) Is your answer to part (a) evidence that Merry Melodies discriminates against its female programmers? Justify your answer.
a) What is the optimal decision strategy for Dante?
b) Develop a risk profile for this decision strategy.
c) If Dante wins the contract but does no market research, does the MiniMax Regret approach recommend building or selling?