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Statistics For Business And Economics 8th Edition Paul Newbold, William Carlson, Betty Thorne - Solutions

The data file Grade Point Averages contains a random sample of 156 grade point averages for students at one university. Construct a stem-and-leaf display of the data.
A corporation administers an aptitude test to all new sales representatives. Management is interested in the extent to which this test is able to predict weekly sales of new representatives. Aptitude test scores range from 0 to 30 with greater scores indicating a higher aptitude. Weekly sales are
The U.S. Department of Agriculture (USDA) Center for Nutrition Policy and Promotion (CNPP) developed and administered the Healthy Eating Index-2005 to measure how well the population follows the recommendations of the 2005 Dietary Guidelines for Americans. The data are contained in the data file
A university administrator requested a breakdown of travel expenses for faculty to attend various professional meetings. It was found that 31% of the travel expenses was spent for transportation costs, 25% was spent for lodging, 17% was spent for food, and 20% was spent for conference registration
A random sample of 5 weeks showed that a cruise agency received the following number of weekly specials to the Caribbean: 20 73 75 80 82 a. Compute the mean, median, and mode. b. Which measure of central tendency best describes the data?
A sample of 33 accounting students recorded the number of hours spent studying the course material during the week before the final exam. The data are stored in the data file Study.a. Compute the sample mean.b. Compute the sample median.c. Comment on symmetry or skewness.d. Find the five-number
The data file Sun contains the volumes for a random sample of 100 bottles (237 mL) of a new suntan lotion.a. Find and interpret the mean volume.b. Determine the median volume.c. Are the data symmetric or skewed? Explain.d. Find the five-number summary for this data.
Compute the variance and standard deviation of the following sample data:6 8 7 10 3 5 9 8
Compute the variance and standard deviation of the following sample data:3 0 -2 -1 5 10
Calculate the coefficient of variation for the following sample data:10 8 11 7 9
The ages of a random sample of people who attended a recent soccer match are as follows:a. Find the mean age. b. Find the standard deviation. c. Find the coefficient of variation.
Construct a stem-and-leaf display of the ages of a random sample of people who attended a recent soccer match given in Exercise 2.15. Then find the interquartile range.
A random sample of data has a mean of 75 and a variance of 25.a. Use Chebyshev's theorem to determine the percent of observations between 65 and 85.b. If the data are mounded, use the empirical rule to find the approximate percent of observations between 65 and 85.
If the mean of a population is 250 and its standard deviation is 20, approximately what proportion of observations is in the interval between each pair of values?a. 190 and 310b. 210 and 290
A set of data is mounded, with a mean of 450 and a variance of 625. Approximately what proportion of the observations is? a. Greater than 425? b. Less than 500? c. Greater than 525?
A department-store manager is interested in the number of complaints received by the customer-service department about the quality of electrical products sold by the store. Records over a 5-week period show the following number of complaints for each week:13 15 8 16 8a. Compute the mean number of
The annual percentage returns on common stocks over a 7-year period were as follows:4.0% 14.3% 19.0% -14.7% -26.5% 37.2% 23.8%Over the same period the annual percentage returns on U.S. Treasury Bills were as follows:6.5% 4.4% 3.8% 6.9% 8.0% 5.8% 5.1%a. Compare the means of these two population
How much time do corporate executives exercise daily? Training programs exist to help executives improve their health so that they can think more clearly and make better business decisions. Suppose that we randomly sample ten executives and obtain the following daily exercise times (in minutes):20
The operations manager at a plant that bottles natural spring water wants to be sure that the filling process for 1-gallon bottles (1 gallon is approximately 3.785 liters) is operating properly. A random sample of 75 bottles is selected and the contents are measured. The volume of each bottle is
In Chapter 1 we described graphically, with a frequency distribution and histogram, the time (in seconds) for a random sample of n = 110 employees to complete a particular task. Describe the data in Table 1.6 numerically. The data are stored in the data file Completion Times.a. Find the mean
The assessment rates (in percentages) assigned to a random sample of 40 commercially zoned parcels of land in the year 2012 are stored in the data file Rates. a. What is the standard deviation in the assessment rates? b. Approximately what proportion of the rates will be within ± 2 standard
Calculate the mean dollar amount and the standard deviation for the dollar amounts charged to a Visa account at Florin's Flower Shop. Data are stored in the data file Florin.
Consider the following sample of five values and corresponding weights:xi wi4.6 ..........83.2 ..........35.4 ..........62.6 ..........25.2 ..........5a. Calculate the arithmetic mean of the xi values without weights.b. Calculate the weighted mean of the xi values.
Consider the following frequency distribution for a sample of 40 observations:Class Frequency0–4 .............55–9 .............810–14 ........... 1115–19 ...........920–24 ...........7a. Calculate the sample mean.b. Calculate the sample variance and sample standard deviation.
An online pharmaceutical company obtained the following frequency distribution of shipping times (number of hours between the time an order is placed and the time the order is shipped) for a random sample of 40 orders. (Be sure to complete all appropriate columns and show your work). Number of
A manufacturer of portable radios obtained a sample of 50 radios from a week€™s output. The radios were checked and the numbers of defects were recorded as follows.Calculate the standard deviation.
Ten economists were asked to predict the percentage growth in the Consumer Price Index over the next year. Their forecasts were as follows:3.6 3.1 3.9 3.7 3.5 3.7 3.4 3.0 3.7 3.4a. Compute the sample mean.b. Compute the sample median.c. Find the mode.
A random sample of 50 personal property insurance policies showed the following number of claims over the past 2 years.a. Find the mean number of claims per policy.b. Find the sample variance and standard deviation.
For a random sample of 25 students from a very large university, the accompanying table shows the amount of time (in hours) spent studying for final exams.a. Estimate the sample mean study time.b. Estimate the sample standard deviation.
A sample of 20 financial analysts was asked to provide forecasts of earnings per share of a corporation for next year. The results are summarized in the following table:Forecast ($ per share) Number of Analysts$9.95 to under $10.45 ..........2$10.45 to under $10.95 .........8$10.95 to under $11.45
A publisher receives a copy of a 500-page textbook from a printer. The page proofs are carefully read and the number of errors on each page is recorded, producing the data in the following table:Find the mean and standard deviation in number of errors per page.
In Chapter 1, we described graphically using a frequency distribution table and a histogram the time (in seconds) for a random sample of n = 110 employees to complete a particular task. Describe the data numerically based on the frequency distribution given in Table 1.7. The data is stored in the
Following is a random sample of seven (x, y) pairs of data points:11, 52 13, 72 14, 62 15, 82 17, 92 13, 62 15, 72a. Compute the covariance.b. Compute the correlation coefficient.
Following is a random sample of five (x, y) pairs of data points:112, 2002 130, 6002 115, 2702 124, 5002 114, 2102a. Compute the covariance.b. Compute the correlation coefficient.
Following is a random sample of price per piece of plywood, X, and quantity sold, Y (in thousands): Price per Piece (x) Thousands of Pieces Sold (y)$6 ...............807 ...............608 ...............709 ...............4010 ............... 0a. Compute the covariance.b. Compute the
River Hills Hospital is interested in determining the effectiveness of a new drug for reducing the time required for complete recovery from knee surgery. Complete recovery is measured by a series of strength tests that compare the treated knee with the untreated knee. The drug was given in varying
Acme Delivery offers three different shipping rates for packages fewer than 5 pounds delivered from Maine to the West Coast: regular, $3; fast, $5; and lightning, $10. To test the quality of these services, a major mailorder retailer shipped 15 packages at randomly selected times from Maine to
A department-store chain randomly sampled 10 stores in a state. After a review of sales records, it was found that, compared with the same period last year, the following percentage increases in dollar sales had been achieved over the Christmas period this year: 10.2 3.1 5.9 7.0 3.7 2.9 6.8 7.3 8.2
The following data give X, the price charged for a particular item, and Y, the quantity of that item sold (in thousands):Price per Piece (X) Hundreds of Pieces Sold (Y)$5 ……………………………………… 556
Snappy Lawn Care, a growing business in central Florida, keeps records of the temperature (in degrees Fahrenheit) and the time (in hours) required to complete a contract. A random sample of temperatures and time for n = 11 contracts is stored in the data file Snappy Lawn Care.a. Compute the
A consumer goods company has been studying the effect of advertising on total profits. As part of this study, data on advertising expenditures (in thousands of dollars) and total sales (in thousands of dollars) were collected for a 5-month period and are as follows:110, 1002 115, 2002 17, 802 112,
The president of Floor Coverings Unlimited wants information concerning the relationship between retail experience (years) and weekly sales (in hundreds of dollars). He obtained the following random sample on experience and weekly sales:12, 52 14, 102 13, 82 16, 182 13, 62 15, 152 16, 202 12, 42The
A major airport recently hired consultant John Cadariu to study the problem of air traffic delays. He recorded the number of minutes planes were late for a sample of flights in the following table:a. Estimate the mean number of minutes late.b. Estimate the sample variance and standard deviation.
Snappy Lawn Care, a growing business in central Florida, keeps records of charges for its professional lawn care services. A random sample of n = 50 charges is stored in the data file Snappy Lawn Care. Describe the data numerically.a. Compute the mean charge.b. Compute the standard deviation.c.
In Example 2.9 we calculated the variance and standard deviation for Location 1 of Gilotti's Pizzeria restaurants. Use the data in the data file Gilotti's Pizzeria to find the variance and the standard deviation for Location 2, Location 3, and Location 4.
Describe the following data numerically: 14, 532 110, 652 115, 482 110, 662 18, 462 15, 562 17, 602 111, 572 112, 492 114, 702 110, 542 17, 562 19, 502 18, 522 111, 592 110, 662 18, 492 15, 502
Only 67 students in the data file Student GPA have SAT verbal scores. a. Construct the scatter plot of GPAs and SAT scores for these 67 students. b. Calculate the correlation between GPAs and SAT scores for these 67 students.
Consider the following four populations:• 1, 2, 3, 4, 5, 6, 7, 8• 1, 1, 1, 1, 8, 8, 8, 8• 1, 1, 4, 4, 5, 5, 8, 8,• -6, -3, 0, 3, 6, 9, 12, 15All these populations have the same mean. Without doing the calculations, arrange the populations according to the magnitudes of their variances, from
A sample of 12 senior executives found the following results for percentage of total compensation derived from bonus payments:15.8 17.3 28.4 18.2 15.0 24.7 13.1 10.2 29.3 34.7 16.9 25.3a. Compute the sample median.b. Compute the sample mean.
An auditor finds that the values of a corporation's accounts receivable have a mean of $295 and a standard deviation of $63.a. It can be guaranteed that 60% of these values will be in what interval?b. It can be guaranteed that 84% of these values will be in what interval?
In one year, earnings growth of the 500 largest U.S. corporations averaged 9.2%; the standard deviation was 3.5%. a. It can be guaranteed that 84% of these earnings growth figures will be in what interval? b. Using the empirical rule, it can be estimated that approximately 68% of these earnings
Tires of a particular brand have a lifetime mean of 29,000 miles and a standard deviation of 3,000 miles. a. It can be guaranteed that 75% of the lifetimes of tires of this brand will be in what interval? b. Using the empirical rule, it can be estimated that approximately 95% of the lifetimes of
The supervisor of a very large plant obtained the time (in seconds) for a random sample of n = 110 employees to complete a particular task. The data is stored in the data file Completion Times.a. Find and interpret the IQR.b. Find the five-number summary.
How much time (in minutes) do people spend on a typical visit to a local mall? A random sample of n = 104 shoppers was timed and the results (in minutes) are stored in the data file Shopping Times.You were asked to describe graphically the shape of the distribution of shopping times in Exercise.
A random sample for five exam scores produced the following (hours of study, grade) data values:Hours Studied (x) Test Grade (y)3.5 ...............882.4 ...............764 ...............925 ...............851.1 ...............60a. Compute the covariance.b. Compute the correlation
A corporation administers an aptitude test to all new sales representatives. Management is interested in the extent to which this test is able to predict weekly sales of new representatives. Aptitude test scores range from 0 to 30 with greater scores indicating a higher aptitude. Weekly sales are
During the last 3 years Consolidated Oil Company expanded its gasoline stations into convenience food stores (CFSs) in an attempt to increase total sales revenue. The daily sales (in hundreds of dollars) from a random sample of 10 weekdays from one of its stores are:6 8 10 12 14 9 11 7 13 11a. Find
A textile manufacturer obtained a sample of 50 bolts of cloth from a day's output. Each bolt is carefully inspected and the number of imperfections is recorded as follows:Find the mean, median, and mode for these sample data.
The ages of a sample of 12 students enrolled in an online macroeconomics course are as follows:21 22 27 36 18 19 22 23 22 28 36 33a. What is the mean age for this sample?b. Find the median age.c. What is the value of the modal age?
A random sample of 156 grade point averages for students at one university is stored in the data file Grade Point Averages.a. Compute the first and third quartiles.b. Calculate the 30th percentile.c. Calculate the 80th percentile.
Given A = [E1, E3, E6, E9], define A.
The sample space contains 10 As and 6 Bs. What is the probability that a randomly selected set of 4 will include 2 As and 2 Bs?
It is known that 20% of all farms in a state exceed 160 acres and that 60% of all farms in that state are owned by persons over 50 years old. Of all farms in the state exceeding 160 acres, 55% are owned by persons over 50 years old.a. What is the probability that a randomly chosen farm in this
In a large corporation, 80% of the employees are men and 20% are women. The highest levels of education obtained by the employees are graduate training for 10% of the men, undergraduate training for 30% of the men, and high school training for 60% of the men. The highest levels of education
A large corporation organized a ballot for all its workers on a new bonus plan. It was found that 65% of all night-shift workers favored the plan and that 40% of all female workers favored the plan. Also, 50% of all employees are night-shift workers and 30% of all employees are women. Finally, 20%
A jury of 12 members is to be selected from a panel consisting of 8 men and 8 women.a. How many different jury selections are possible?b. If the choice is made randomly, what is the probability that a majority of the jury members will be men?
A consignment of 12 electronic components contains 1 component that is faulty. Two components are chosen randomly from this consignment for testing.a. How many different combinations of 2 components could be chosen?b. What is the probability that the faulty component will be chosen for testing?
Tiger Funds Ltd. operates a number of mutual funds in high technology and in financial sectors. Hussein Roberts is a fund manager who runs a major fund that includes a wide variety of technology stocks. As fund manager he decides which stocks should be purchased for the mutual fund. The
Of 100 patients with a certain disease, 10 were chosen at random to undergo a drug treatment that increases the cure rate from 50% for those not given the treatment to 75% for those given the drug treatment.a. What is the probability that a randomly chosen patient both was cured and was given the
Subscriptions to a particular magazine are classified as gift, previous renewal, direct mail, and subscription service. In January 8% of expiring subscriptions were gifts; 41%, previous renewal; 6%, direct mail; and 45%, subscription service. The percentages of renewals in these four categories
The Customs Inspection agency at international airports has developed a traveler profiling system (TPS) to detect passengers who are trying to bring more liquor into the country than is allowed by present regulations. Long-term studies indicate that 20% of the passengers are carrying more liquor
In a large city, 8% of the inhabitants have contracted a particular disease. A test for this disease is positive in 80% of people who have the disease and is negative in 80% of people who do not have the disease. What is the probability that a person for whom the test result is positive has the
A life insurance salesman finds that, of all the sales he makes, 70% are to people who already own policies. He also finds that, of all contacts for which no sale is made, 50% already own life insurance policies. Furthermore, 40% of all contacts result in sales. What is the probability that a sale
A professor finds that she awards a final grade of A to 20% of her students. Of those who obtain a final grade of A, 70% obtained an A on the midterm examination.Also, 10% of the students who failed to obtain a final grade of A earned an A on the midterm exam. What is the probability that a student
The accompanying table shows, for 1,000 forecasts of earnings per share made by financial analysts, the numbers of forecasts and outcomes in particular categories (compared with the previous year).a. Find the probability that if the forecast is for a worse performance in earnings, this outcome will
A dean has found that 62% of entering freshmen and 78% of community college transfers eventually graduate. Of all entering students, 73% are entering freshmen and the remainder are community college transfers.a. What is the probability that a randomly chosen entering student is an entering freshman
A market-research group specializes in providing assessments of the prospects of sites for new children's toy stores in shopping centers. The group assesses prospects as good, fair, or poor. The records of assessments made by this group were examined, and it was found that for all stores that had
A restaurant manager classifies customers as regular, occasional, or new, and finds that of all customers 50%, 40%, and 10%, respectively, fall into these categories. The manager found that wine was ordered by 70% of the regular customers, by 50% of the occasional customers, and by 30% of the new
A record-store owner assesses customers entering the store as high school age, college age, or older, and finds that of all customers 30%, 50%, and 20%, respectively, fall into these categories. The owner also found that purchases were made by 20% of high school age customers, by 60% of college age
Note that this exercise represents a completely imaginary situation. Suppose that a statistics class contained exactly 8 men and 8 women. You have discovered that the teacher decided to assign 5 Fs on an exam by randomly selecting names from a hat. He concluded that this would be easier than
A robbery has been committed and McGuff, the crime-fighting dog, has been called in to investigate. He discovers that Sally Coldhands was seen wearing gloves in the neighborhood shortly after the crime, and, thus, he concludes that she should be arrested. From past experience you know that 50% of
You are responsible for detecting the source of the error when a computer system fails. From your analysis you know that the source of error is the disk drive, the computer memory, or the operating system. You know that 50% of the errors are disk drive errors, 30% are computer memory errors, and
In a city of 180,000 people there are 20,000 legal immigrants from Latin America. What is the probability that a random sample of two people from the city will contain two legal immigrants from Latin America?
After meeting with the regional sales managers, Lauretta Anderson, president of Cowpie Computers, Inc., you find that she believes that the probability that sales will grow by 10% in the next year is 0.70. After coming to this conclusion, she receives a report that John Cadariu of Minihard
Sally Firefly purchases hardwood lumber for a custom furniture-building shop. She uses three suppliers, Northern Hardwoods, Mountain Top, and Spring Valley. Lumber is classified as either clear or has defects, which includes 20% of the pile. A recent analysis of the defect lumber pile showed that
Robert Smith uses either regular plowing or minimal plowing to prepare the cornfields on his Minnesota farm. Regular plowing was used for 40% of the field acreage. Analysis after the crop was harvested showed that 50% of the high-yield acres were from minimal plowing fields and 40% of the low yield
A corporation has just received new machinery that must be installed and checked before it becomes operational. The accompanying table shows a manager€™s probability assessment for the number of days required before the machinery becomes operational.Let A be the event €œit will be more than
A fund manager is considering investing in a new software firm based in India. The manager€™s assessment of probabilities for rates of return on this stock over the next year is summarized in the accompanying table. Let A be the event €œrate of return will be at least 10%€ and B be the
A manager has available a pool of 8 employees who could be assigned to a project-monitoring task. 4 of the employees are women and 4 are men. 2 of the men are brothers. The manager is to make the assignment at random so that each of the 8 employees is equally likely to be chosen. Let A be the event
If two events are mutually exclusive, we know that the probability of their union is the sum of their individual probabilities. However, this is not the case for events that are not mutually exclusive. Verify this assertion by considering the events A and B of Exercise 3.2.
A department store manager has monitored the number of complaints received per week about poor service. The probabilities for numbers of complaints in a week, established by this review, are shown in the following table. Let A be the event €œthere will be at least one complaint in a week€
A corporation receives a particular part in shipments of 100. Research indicated the probabilities shown in the accompanying table for numbers of defective parts in a shipment.a. What is the probability that there will be fewer than three defective parts in a shipment? b. What is the probability
The probability of A is 0.60, the probability of B is 0.45, and the probability of either is 0.80. What is the probability of both A and B?
Given A = [E1, E3, E7, E9] and B = [E2, E3, E8, E9]. a. What is A intersection B? b. What is the union of A and B? c. Is the union of A and B collectively exhaustive?
The probability of A is 0.40, the probability of B is 0.45, and the probability of either is 0.85. What is the probability of both A and B?
The probability of A is 0.60, the probability of B is 0.40, and the probability of either is 0.76. What is the probability of both A and B?
The probability of A is 0.60, the probability of B is 0.45, and the probability of both is 0.30. What is the probability of either A and B?
The probability of A is 0.60, the probability of B is 0.45, and the probability of both is 0.30. What is the conditional probability of A, given B? Are A and B independent in a probability sense?
The probability of A is 0.80, the probability of B is 0.10, and the probability of both is 0.08. What is the conditional probability of A, given B? Are A and B independent in a probability sense?
The probability of A is 0.30, the probability of B is 0.40 and the probability of both is 0.30. What is the conditional probability of A given B? Are A and B independent in a probability sense?

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