Question: Does the kid factor make a difference? If you are talking photography, the answer may be yes! The following table is based on information from

Does the kid factor make a difference? If you are talking photography, the answer may be yes! The following table is based on information from American Demographics.

Let us say you are a market researcher who interviews a random sample of 10 households.
(a) Suppose you interview 10 households with children under the age of 2 years. Let r represent the number of such households that buy photo gear. Make a histogram showing the probability distribution of r for r = 0 through r = 10. Find the mean and standard deviation of this probability distribution.
(b) Suppose that the 10 households are chosen with no children under 21 years old. Let r represent the number of such households that buy photo gear. Make a histogram showing the probability distribution of r for r = 0 through r = 10. Find the mean and standard deviation of this probability distribution.
(c) Interpretation Compare the distributions in parts (a) and (b). You are designing TV ads to sell photo gear. Could you justify featuring ads of parents taking pictures of toddlers? Explain your answer.

Ages of children in household, years Percentage of US. households that buy photo gear Under 2 None under 21 80% 50%

Step by Step Solution

★★★★★

3.60 Rating (172 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a n 10 p 080 np 1008 8 b n 10 p 05 np 1005 5 c Yes since the graph in part a is ske... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

785-S-J-P-D (1083).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

Are customers more loyal in the East or in the West? The following table is based on information from Trends in the United States, published by the Food Marketing Institute, Washington, D.C. The...

What is the age distribution of patients who make office visits to a doctor or nurse? The following table is based on information taken from the Medical Practice Characteristics section of the...

The following table gives information on the incomes (in thousands of dollars) and charitable contributions (in hundreds of dollars) for the last year for a random sample of 10 households. a. With...

Marketing: Photography Does the kid factor make a difference? If you are talking photography, the answer may be yes! The following table is based on information from American Demographics (Vol. 19,...

Business Event Analysis: Complete the following table based on the specified NBD event. Receive Shipment (From Supplier) Trigger(s) (also indicate type) Collected Data (originates as input for event)...

I need the following homework exercise completed. All of the information is within the attached files. I require no explanations, just the answers. Part 1: Finding information: Each of the following...

The New World Reality of Benefits Communication Alexander, Sheri. Employee Benefit Plan Review 68.11 (May 2014): 13-14. One of the biggest challenges of modern benefits is explaining them to...

I'm working on a team case study project for my business finance class where our team is reporting on Kimberly Clark. I have been assigned the following section and I'm struggling. I have attached...

I need help figuring this ratio ASAP. The 10K I am using is attached. I would like an explanation if possible, not just an answer. I need to figure out where this information is even at. Thank you so...

Learning Outcomes define the valuation and reporting of current liabilities, estimated liabilities, and other contingencies. interpret company solvency through selection and application of...

At a point on the surface of a machine the material is in biaxial stress with (x = 3600 psi, and (y = - 1600 psi, as shown in the first part of the figure. The second part of the figure shows an...

An amusement park studied methods for decreasing the waiting time (minutes) for rides by loading and unloading riders more efficiently. Two alternative loading/unloading methods have been proposed....

What does the " 2 0 / 1 0 rule" recommend for personal finance management? Group of answer choices Allocating 2 0 % of income to entertainment expenses and keeping credit card balances below 1 0 % ....

Does child care help recruit employees? Will providing child care for employees make a company more attractive to women, even those who are unmarried? You are designing an experiment to answer this...

Control Charts: Yellowstone National Park Yellowstone Park Medical Services (YPMS) provides emergency health care for park visitors. Such health care includes treatment for everything from...

Control Charts: Bank Loans Tri-County Bank is a small independent bank in central Wyoming. This is a rural bank that makes loans on items as small as horses and pickup trucks to items as large as...

Control Charts: Motel Rooms The manager of Motel 11 has 316 rooms in Palo Alto, California. From observation over a long period of time, she knows that on an average night, 268 rooms will be rented....

You have the following data on Bravo, plc for the year 2018: Income Statement for the year to 31/12/2018 '000 Revenue (all credit sales) 1,850 Cost of Sales (Purchases) (1,350) Gross Profit 500...

Discuss and give a detailed explanation about the company's cash flow from 2019 to 2021. 12 months ended: Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Consolidated net income 13,706 15,201 7,179...

e question will save this response Question 1 of 27 Question 1 2 points Suppose you invest in a municipal bond that pays a yield of 5%. If your marginal tax is 23%, what is the equivalent yield on...