Q1: A simple random sample of 5 months of sales data provided the following information: Month: 1 ,2 ,3 ,4 ,5 Units Sold: 94 ,100 ,85 ,94 ,92 a. Develop a point estimate of the population mean number of units sold per month. b. Develop a point estimate of the population standard deviation.

Q2: BusinessWeek published information on 283 equity mutual funds (BusinessWeek, January 26, 2004). A sample of 40 of those funds is contained in the data set Mutual Fund. Use the data set to answer the following questions. a. Develop a point estimate of the proportion of the BusinessWeek equity funds that are load funds. b. Develop a point estimate of the proportion of funds that are classified as high risk. c. Develop a point estimate of the proportion of funds that have a below-average risk rating.

Q3: Many drugs used to treat cancer are expensive. BusinessWeek reported on the cost per treatment of Herceptin, a drug used to treat breast cancer (BusinessWeek, January 30, 2006). Typical treatment costs (in dollars) for Herceptin are provided by a simple random sample of 10 patients. 4376, 5578, 2717, 4920, 4495, 4798, 6446, 4119, 4237, 3814

a. Develop a point estimate of the mean cost per treatment with Herceptin. b. Develop a point estimate of the standard deviation of the cost per treatment with Herceptin.

Q4: A sample of 50 Fortune 500 companies (Fortune, April 14, 2003) showed 5 were based in New York, 6 in California, 2 in Minnesota, and 1 in Wisconsin.

a. Develop an estimate of the proportion of Fortune 500 companies based in New York.

b. Develop an estimate of the number of Fortune 500 companies based in Minnesota.

c. Develop an estimate of the proportion of Fortune 500 companies that are not based in these four states.

Q5: The American Association of Individual Investors (AAII) polls its subscribers on a weekly basis to determine the number who are bullish, bearish, or neutral on the short-term prospects for the stock market. Their findings for the week ending March 2, 2006, are consistent with the following sample results (AAII website, March 7, 2006). Bullish 409 Neutral 299 Bearish 291 Develop a point estimate of the following population parameters.

a. The proportion of all AAII subscribers who are bullish on the stock market.

b. The proportion of all AAII subscribers who are neutral on the stock market.

c. The proportion of all AAII subscribers who are bearish on the stock market.