Risk analysis and Montecarlo simulation

BU513 Workshop 6.   Participation discussion

Risk analysis and Monte Carlo simulation.

Name: ______________________________  Date: _____________________

1. Given the following data:

Determine if there is a signficant difference between the different types of restaurant foods. 

2. Given the following production data by plants and by supervisors when they were supervising the respective plants. :

Determine if there is a signficant difference between Plant performance and whether there is a signifcant difference between supervisors.

3. The following information shows the number of employees absent by day of the week at a large a manufacturing plant.  At the .05 level of significance, is there a difference in the absence rate by day of the week?

Day                                            Frequency

Monday                                             120

Tuesday                                               45

Wednesday                                      60

Thursday                                           90

Friday                                                 130

      Total                                           445

4. The U.S. Bureau of the Census indicated that 63.9% of the population is married, 7.7% widowed, 6.9% divorced (and not re-married), and 21.5% single (never been married).  A sample of 500 adults from the Philadelphia area showed that 310 were married, 40 widowed, 30 divorced, and 120 single.  At the .05 significance level can we conclude that the Philadelphia area is different from the U.S. as a whole?

5. Is there a relationship between the location of an accident and the gender of the person involved in the accident?  A sample of 150 accidents reported to the police were classified by type and gender.  At the .05 level of significance, can we conclude that gender and the location of the accident are related?