A marketing solutions poll of mutual funds and fund owners asked fund owners what action they
Took after the September 11th 2001 market drop. Sixteen percent of respondents said they bought
More funds. If 600 fund owners were polled, calculate the mean and standard deviation of the
Number of respondents who bought more funds. Considering as unusual a result that differs from
The mean by more than two standard deviations, it (___ (is/is not) ___) unusual that in one of these
Polls of 600 fund owners, 100 respondents bought more mutual funds.
A)96, 9, is not
B)96, 8, is
C)96, 9, is
D)95, 8, is not
E)95, 8, is

Question

Quizplus · Accepted Answer

The mean is 96 (0.16 * 600) and the standard deviation is 9 (sqrt(0.16 * 0.84 * 600)). 100 is within two standard deviations of the mean (96 +/- 18).

A Marketing Solutions Poll of Mutual Funds and Fund Owners