Exercise 1: The following list shows the 15 largest banks in the world by assets according to Standard and Poor's. Bank Assets (US$ millions) Industrial & Commercial Bank of China (ICBC) 4,009 China Construction Bank Corp. 3,400 Agricultural Bank of China 3,236 Bank of China 2,992 Mitsubishi UFJ Financial Group 2,785 JPMorgan Chase & Co. 2,534 HSBC Holdings 2,522 BNP Paribas 2,357 Bank of America 2,281 Credit Agricole 2,117 Wells Fargo & Co. 1,952 Japan Post Bank 1,874 Citigroup Inc. 1,842 Sumitomo Mitsui Financial Group 1,175 Deutsche Bank 1,166 1. Compute the median and the mean assets from this group. Which of these two measures do you think is most appropriate for summarizing these data, and why? 2. What is the sample variance for this data set? 3. Find the first and third quartiles for the data.4. Determine the 63rd percentile for the data. item Find the 29th percentile for the data. How could such information on percentiles potentially help banking decisionmakers? Exercise 2: Statistics Canada reports that of people who usually work full-time, the average number of hours worked per week is 42.2. Assume that the number of hours worked per week for those who usually work full-time is normally distributed. Suppose 12% of these workers work more than 48 hours. Based on this per centage, what is the standard deviation of number of hours worked per week for these workers? Exercise 3: A study about strategies for competing in the global marketplace states that 52% of the respondents agreed that companies need to make direct investments in foreign countries. It also states that about 70% of those responding agree that it is attractive to have a joint venture to increase global competitiveness. Suppose CEOS of 95 manufacturing companies are randomly contacted about global strategies. 1. What is the probability that between 44 and 52 (inclusive) CEOs agree that companies should make direct investments in foreign countries? 2. What is the probability that more than 56 CEOS agree with that assertion? 3. What is the probability that fewer than 60 CEOs agree that it is attractive to have a joint venture to increase global competitiveness? 4. What is the probability that between 55 and 62 (non inclusive) CEOs agree with that assertion? Exercise 4: Suppose the average checkout tab at a large supermarket is $65.12, with a standard deviation of $21.45. Twenty-three percent of the time when a random sample of 45 customer tabs is examined, the sample average should exceed what value