New Semester Started Get 50% OFF Study Help! --h --m --s Claim Now

Question Answers

Textbooks

Find textbooks, questions and answers

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Study Help
Tutors
AI Study Planner NEW
Sell Books

Search
Sign In
Register

study help
mathematics
statistics

Essentials Of Statistics For Business And Economics 7th Edition David Anderson, Thomas Williams, Dennis Sweeney, Jeffrey Cam - Solutions

Morningstar publishes ratings data on 1208 company stocks (Morningstar website, October 24, 2012). A sample of 40 of these stocks is contained in the data set Morningstar. Use the data set to answer the following questions.a. Develop a point estimate of the proportion of the stocks that receive
The National Football League (NFL) polls fans to develop a rating for each football game (NFL website, October 24, 2012). Each game is rated on a scale from 0 (forgettable) to100 (memorable). The fan ratings for a random sample of 12 games are shown.a. Develop a point estimate of mean fan rating
One of the questions in the Pew Internet & American Life Project asked adults if they used the Internet, at least occasionally (Pew website, October 23, 2012). The results showed that 454 out of 478 adults aged 18–29 answered yes; 741 out of 833 adults aged 30–49 answered yes; and 1058 out
A population has a mean of 200 and a standard deviation of 50. A sample of size 100 will be taken and the sample means x will be used to estimate the population mean.a. What is the expected value of x?b. What is the standard deviation of x?c. Show the sampling distribution of x.d. What does the
A sample of size 100 is selected from a population with p = .40.a. What is the expected value of ṕ?b. What is the standard error of ṕ?c. Show the sampling distribution of ṕ.d. What does the sampling distribution of ṕ show?
A market research firm conducts telephone surveys with a 40% historical response rate. What is the probability that in a new sample of 400 telephone numbers, at least 150 individuals will cooperate and respond to the questions? In other words, what is the probability that the sample proportion will
Indicate which of the following situations involve sampling from a finite population and which involve sampling from an infinite population. In cases where the sampled population is finite, describe how you would construct a frame.a. Obtain a sample of licensed drivers in the state of New York.b.
A sample of 426 U.S. adults age 50 and older were asked how important a variety of issues were in choosing for whom to vote in the 2012 presidential election (AARP B, March 2012). a. What is the sampled population for this study? b. Social Security and Medicare was cited as “very important” by
Assume the population standard deviation is σ = 25. Compute the standard error of the mean, σx, for sample sizes of 50, 100, 150, and 200. What can you say about the size of the standard error of the mean as the sample size is increased?
Suppose a random sample of size 50 is selected from a population with σ = 10. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor if appropriate).a. The population size is infinite.b. The population size is n = 50,000.c. The
Refer to the EAI sampling problem. Suppose a simple random sample of 60 employees is used.a. Sketch the sampling distribution of x when simple random samples of size 60 are used.b. What happens to the sampling distribution of x if simple random samples of size 120 are used?c. What general statement
Barron’s reported that the average number of weeks an individual is unemployed is 17.5 weeks (Barron’s, February 18, 2008). Assume that for the population of all unemployed individuals the population mean length of unemployment is 17.5 weeks and that the population standard deviation is 4
The College Board reported the following mean scores for the three parts of the SAT (The World Almanac, 2009):Critical Reading ........502Mathematics ..........515Writing ............494Assume that the population standard deviation on each part of the test is σ 5 100.a. What is the probability a
For the year 2010, 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return (The Wall Street Journal, October 25, 2012). The mean amount of deductions for this population of taxpayers was $16,642. Assume the standard deviation
The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011 (Economic Policy Institute website, March 30, 2012).
The state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches (Current Results website, October 27, 2012). Assume that the standard deviation for both states is 4 inches. A sample of 30 years of rainfall for California and a
The mean preparation fee H&R Block charged retail customers last year was $183 (The Wall Street Journal, March 7, 2012). Use this price as the population mean and assume the population standard deviation of preparation fees is $50.a. What is the probability that the mean price for a sample of
To estimate the mean age for a population of 4000 employees, a simple random sample of 40 employees is selected.a. Would you use the finite population correction factor in calculating the standard error of the mean? Explain.b. If the population standard deviation is σ = 8.2 years, compute the
Assume that the population proportion is .55. Compute the standard error of the proportion, σṕ, for sample sizes of 100, 200, 500, and 1000. What can you say about the size of the standard error of the proportion as the sample size is increased?
The population proportion is .30. What is the probability that a sample proportion will be within ± .04 of the population proportion for each of the following sample sizes?a. n = 100b. n = 200c. n = 500d. n = 1000e. What is the advantage of a larger sample size?
The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29 years of age or less and the age at first startup for 45% of entrepreneurs was 30 years of age or more (The Wall Street Journal, March 19, 2012).a. Suppose a sample of 200 entrepreneurs will be taken to
People end up tossing 12% of what they buy at the grocery store (Reader’s Digest. March 2009). Assume this is the true population proportion and that you plan to take a sample survey of 540 grocery shoppers to further investigate their behavior.a. Show the sampling distribution of ṕ, the
Forty-two percent of primary care doctors think their patients receive unnecessary medical care (Reader’s Digest, December 2011/January 2012).a. Suppose a sample of 300 primary care doctors were taken. Show the sampling distribution of the proportion of the doctors who think their patients
In 2008 the Better Business Bureau settled 75% of complaints they received (USA Today, March 2, 2009). Suppose you have been hired by the Better Business Bureau to investigate the complaints they received this year involving new car dealers. You plan to select a sample of new car dealer complaints
The Grocery Manufacturers of America reported that 76% of consumers read the ingredients listed on a product’s label. Assume the population proportion is p = .76 and a sample of 400 consumers is selected from the population.a. Show the sampling distribution of the sample proportion ṕ where ṕ
The Food Marketing Institute shows that 17% of households spend more than $100 per week on groceries. Assume the population proportion is p = .17 and a sample of 800 households will be selected from the population.a. Show the sampling distribution of ṕ, the sample proportion of households
U.S. News & World Report publishes comprehensive information on America’s best colleges (America’s Best Colleges, 2009 ed.). Among other things, they provide a listing of their 133 best national universities. You would like to take a sample of these universities for a follow-up study on their
The latest available data showed health expenditures were $8,086 per person in the United States or 17.6% of gross domestic product (Centers for Medicare & Medicaid Services website, April 1, 2012). Use $8,086 as the population mean and suppose a survey research firm will take a sample of 100
Foot Locker uses sales per square foot as a measure of store productivity. Sales are currently running at an annual rate of $406 per square foot (The Wall Street Journal, March 7, 2012). You have been asked by management to conduct a study of a sample of 64 Foot Locker stores. Assume the standard
Allegiant Airlines charges a mean base fare of $89. In addition, the airline charges for making a reservation on its website, checking bags, and in-flight beverages. These additional charges average $39 per passenger (Bloomberg Businessweek, October 8–14, 2012). Suppose a random sample of 60
After deducting grants based on need, the average cost to attend the University Of Southern California (USC) is $27,175 (U.S. News & World Report, America’s Best Colleges, 2009 ed.). Assume the population standard deviation is $7,400. Suppose that a random sample of 60 USC students will be
Three firms carry inventories that differ in size. Firm A’s inventory contains 2000 items, firm B’s inventory contains 5000 items, and firm C’s inventory contains 10,000 items. The population standard deviation for the cost of the items in each firm’s inventory is σ = 144. A statistical
A researcher reports survey results by stating that the standard error of the mean is 20. The population standard deviation is 500.a. How large was the sample used in this survey?b. What is the probability that the point estimate was within ± 25 of the population mean?
A production process is checked periodically by a quality control inspector. The inspector selects simple random samples of 30 finished products and computes the sample mean product weights x. If test results over a long period of time show that 5% of the x values are over 2.1 pounds and 5% are
Fifteen percent of Australians smoke. By introducing tough laws banning brand labels on cigarette packages, Australia hopes to reduce the percentage of people smoking to 10% by 2018 (Reuters website, October 23, 2012). Answer the following questions based on a sample of 240 Australians.a. Show the
Advertisers contract with Internet service providers and search engines to place ads on websites. They pay a fee based on the number of potential customers who click on their ad. Unfortunately, click fraud—the practice of someone clicking on an ad solely for the purpose of driving up advertising
The proportion of individuals insured by the All-Driver Automobile Insurance Company who received at least one traffic ticket during a five-year period is .15.a. Show the sampling distribution of ṕ if a random sample of 150 insured individuals is used to estimate the proportion having received at
Lori Jeffrey is a successful sales representative for a major publisher of college textbooks. Historically, Lori obtains a book adoption on 25% of her sales calls. Viewing her sales calls for one month as a sample of all possible sales calls, assume that a statistical analysis of the data yields a
A simple random sample of 40 items resulted in a sample mean of 25. The population standard deviation is σ = 5.a. What is the standard error of the mean, σx?b. At 95% confidence, what is the margin of error?
A simple random sample of 60 items resulted in a sample mean of 80. The population standard deviation is σ = 15.a. Compute the 95% confidence interval for the population mean.b. Assume that the same sample mean was obtained from a sample of 120 items. Provide a 95% confidence interval for the
A 95% confidence interval for a population mean was reported to be 152 to 160. If σ = 15, what sample size was used in this study?
Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These data are contained in the file named Houston. Based on past studies the population standard deviation is known with σ = $6.a. At 99% confidence, what is the margin of error?b. Develop a 99%
In an attempt to assess total daily travel taxes in various cities, the Global Business Travel Association conducted a study of daily travel taxes on lodging, rental cars, and meals (GBTA Foundation website, October 30, 2012). The data in the file named TravelTax are consistent with the findings of
Studies show that massage therapy has a variety of health benefits and it is not too expensive (The Wall Street Journal, March 13, 2012). A sample of 10 typical one-hour massage therapy sessions showed an average charge of $59. The population standard deviation for a one-hour session is σ =
AARP reported on a study conducted to learn how long it takes individuals to prepare their federal income tax return (AARP Bulletin, April 2008). The data contained in the file named TaxReturn are consistent with the study results. These data provide the time in hours required for 40 individuals to
For a t distribution with 16 degrees of freedom, find the area, or probability, in each region.a. To the right of 2.120b. To the left of 1.337c. To the left of – 1.746d. To the right of 2.583e. Between – 2.120 and 2.120f. Between –1.746 and 1.746
The International Air Transport Association surveys business travelers to develop quality ratings for transatlantic gateway airports. The maximum possible rating is 10. Suppose a simple random sample of 50 business travelers is selected and each traveler is asked to provide a rating for the Miami
Older people often have a hard time finding work. AARP reported on the number of weeks it takes a worker aged 55 plus to find a job. The data on number of weeks spent searching for a job contained in the file JobSearch are consistent with the AARP findings (AARP Bulletin, April 2008).a. Provide a
Is your favorite TV program often interrupted by advertising? CNBC presented statistics on the average number of programming minutes in a half-hour sitcom (CNBC, February 23, 2006). The following data (in minutes) are representative of their findings.Assume the population is approximately normal.
Consumption of alcoholic beverages by young women of drinking age in the United Kingdom, the United States, and Europe was reported (The Wall Street Journal, February 15, 2006). Data (annual consumption in liters) consistent with the findings reported in The Wall Street Journal article are shown
How large a sample should be selected to provide a 95% confidence interval with a margin of error of 10? Assume that the population standard deviation is 40.
Customers arrive at a movie theater at the advertised movie time only to find that they have to sit through several previews and prepreview ads before the movie starts. Many complain that the time devoted to previews is too long (The Wall Street Journal, October 12, 2012). A preliminary sample
There has been a trend toward less driving in the last few years, especially by young people. From 2001 to 2009 the annual vehicle miles traveled by people from 16 to 34 years of age decreased from 10,300 to 7900 miles per person (U.S. PIRG and Education Fund website, April 6, 2012). Assume the
A simple random sample of 800 elements generates a sample proportion ṕ = .70.a. Provide a 90% confidence interval for the population proportion.b. Provide a 95% confidence interval for the population proportion.
In a survey, the planning value for the population proportion is p* = .35. How large a sample should be taken to provide a 95% confidence interval with a margin of error of .05?
At 95% confidence, how large a sample should be taken to obtain a margin of error of .03 for the estimation of a population proportion? Assume that past data are not available for developing a planning value for p*.
According to statistics reported on CNBC, a surprising number of motor vehicles are not covered by insurance (CNBC, February 23, 2006). Sample results, consistent with the CNBC reports showed 46 of 200 vehicles were not covered by insurance.a. What is the point estimate of the proportion of
For many years businesses have struggled with the rising cost of health care. But recently, the increases have slowed due to less inflation in health care prices and employees paying for a larger portion of health care benefits. A recent Mercer survey showed that 52% of U.S. employers were likely
A sample survey of 54 discount brokers showed that the mean price charged for a trade of100 shares at $50 per share was $33.77 (AAII Journal, February 2006). The survey is conducted annually. With the historical data available, assume a known population standard deviation of $15.a. Using the sample
A survey conducted by the American Automobile Association showed that a family of four spends an average of $215.60 per day while on vacation. Suppose a sample of 64 families of four vacationing at Niagara Falls resulted in a sample mean of $252.45 per day and a sample standard deviation of
In developing patient appointment schedules, a medical center wants to estimate the mean time that a staff member spends with each patient. How large a sample should be taken if the desired margin of error is two minutes at a 95% level of confidence? How large a sample should be taken for a 99%
The National Center for Education Statistics reported that 47% of college students work to pay for tuition and living expenses. Assume that a sample of 450 college students was used in the study.a. Provide a 95% confidence interval for the population proportion of college students who work to pay
A USA Today/CNN/Gallup survey of 369 working parents found 200 who said they spend too little time with their children because of work commitments.a. What is the point estimate of the proportion of the population of working parents who feel they spend too little time with their children because of
The 2003 Statistical Abstract of the United States reported the percentage of people 18 years of age and older who smoke. Suppose that a study designed to collect new data on smokers and nonsmokers uses a preliminary estimate of the proportion who smoke of .30.a. How large a sample should be taken
A well-known bank credit card firm wishes to estimate the proportion of credit card holders who carry a nonzero balance at the end of the month and incur an interest charge. Assume that the desired margin of error is .03 at 98% confidence.a. How large a sample should be selected if it is
The Wall Street Journal reported that automobile crashes cost the United States $162 billion annually (The Wall Street Journal, March 5, 2008). The average cost per person for crashes in the Tampa, Florida, area was reported to be $1,599. Suppose this average cost was based on a sample of 50
Costs are rising for all kinds of medical care. The mean monthly rent at assisted-living facilities was reported to have increased 17% over the last five years to $3,486 (The Wall Street Journal October 27, 2012). Assume this cost estimate is based on a sample of 120 facilities. From past studies,
The following sample data are from a normal population: 10, 8, 12, 15, 13, 11, 6, 5.a. What is the point estimate of the population mean?b. What is the point estimate of the population standard deviation?c. With 95% confidence, what is the margin of error for the estimation of the population
A simple random sample with n = 54 provided a sample mean of 22.5 and a sample standard deviation of 4.4.a. Develop a 90% confidence interval for the population mean.b. Develop a 95% confidence interval for the population mean.c. Develop a 99% confidence interval for the population mean.d.
A sample containing years to maturity and yield for 40 corporate bonds is contained in the data file named CorporateBonds (Barron’s, April 2, 2012).a. What is the sample mean years to maturity for corporate bonds and what is the sample standard deviation?b. Develop a 95% confidence interval for
The average cost per night of a hotel room in New York City is $273 (Smart Money, March 2009). Assume this estimate is based on a sample of 45 hotels and that the sample standard deviation is $65.a. With 95% confidence, what is the margin of error?b. What is the 95% confidence interval estimate of
Disney's Hannah Montana: The Movie opened on Easter weekend in April 2009. Over the three-day weekend, the movie became the number-one box office attraction (The Wall Street Journal, April 13, 2009). The ticket sales revenue in dollars for a sample of 25 theaters is as follows.a. What is the 95%
The U.S. Energy Information Administration (US EIA) reported that the average price for a gallon of regular gasoline is $3.94 (US EIA website, April 6, 2012). The US EIA updates its estimates of average gas prices on a weekly basis. Assume the standard deviation is $.25 for the price of a gallon of
Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $30,000 and $45,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. What is the planning value for the population
An online survey by ShareBuilder, a retirement plan provider, and Harris Interactive reported that 60% of female business owners are not confident they are saving enough for retirement (SmallBiz, winter 2006). Suppose we would like to do a follow-up study to determine how much female business
One of the questions on a survey of 1000 adults asked if today’s children will be better off than their parents (Rasmussen Reports website October 26, 2012). Representative data are shown in the file ChildOutlook. A response of Yes indicates that the adult surveyed did think today’s children
According to Thomson Financial, through January 25, 2006, the majority of companies reported profits had beaten estimates (BusinessWeek, February 6, 2006). A sample of 162 companies showed 104 beat estimates, 29 matched estimates, and 29 fell short.a. What is the point estimate of the proportion
Fewer young people are driving. In 1983, 87% of 19-year-olds had a driver’s license. Twenty-five years later that percentage had dropped to 75% (University of Michigan Transportation Research Institute website, April 7, 2012). Suppose these results are based on a random sample of 1200
A poll for the presidential campaign sampled 491 potential voters in June. A primary purpose of the poll was to obtain an estimate of the proportion of potential voters who favored each candidate. Assume a planning value of p* = .50 and a 95% confidence level.a. For p* = .50, what was the planned
A Phoenix Wealth Management/Harris Interactive survey of 1500 individuals with net worth of $1 million or more provided a variety of statistics on wealthy people (BusinessWeek, September 22, 2003). The previous three-year period had been bad for the stock market, which motivated some of the
The 92 million Americans of age 50 and over control 50 percent of all discretionary income (AARP Bulletin, March 2008). AARP estimated that the average annual expenditure on restaurants and carryout food was $1,873 for individuals in this age group. Suppose this estimate is based on a sample of 80
Russia has recently started a push for stronger smoking regulations, much like those in Western countries, concerning cigarette advertising, smoking in public places, and so on. The webfile named Russia contains sample data that are consistent with those reported by The Wall Street Journal (The
The Health Care Cost Institute tracks health care expenditures for beneficiaries under the age of 65 who are covered by employer-sponsored private health insurance (Health Care Cost Institute website, November 4, 2012). The data contained in the file named DrugCost are consistent with the
A recent article reported that there are approximately 11 minutes of actual playing time in a typical National Football League (NFL) game (The Wall Street Journal, January 15, 2010). The article included information about the amount of time devoted to replays, the amount of time devoted to
The Pew Research Center has conducted extensive research on the young adult population (Pew research website, November 6, 2012). One finding was that 93% of adults aged 18 to 29 use the Internet. Another finding was that 21% of those aged 18 to 28 are married. Assume the sample size associated with
A survey of 750 likely voters in Ohio was conducted by the Rasmussen Poll just prior to the general election (Rasmussen Reports website November 4, 2012). The state of the economy was thought to be an important determinant of how people would vote. Among other things, the survey found that 165 of
Workers in several industries were surveyed to determine the proportion of workers who feel their industry is understaffed. In the government sector, 37% of the respondents said they were understaffed, in the health care sector 33% said they were understaffed, and in the education sector 28% said
Although airline schedules and cost are important factors for business travelers when choosing an airline carrier, a USA today survey found that business travelers list an air-line’s frequent flyer program as the most important factor. From a sample of n 5 1993 business travelers who
1. Develop appropriate descriptive statistics to summarize the data.2. Develop 95% confidence intervals for the mean age and household income of subscribers.3. Develop 95% confidence intervals for the proportion of subscribers who have broadband access at home and the proportion of subscribers who
1. Use appropriate descriptive statistics to summarize each of the three variables for the 40 Gulf View condominiums.2. Use appropriate descriptive statistics to summarize each of the three variables for the 18 No Gulf View condominiums. The data are shown in Table 8.7.3. Compare your summary
1. Use appropriate descriptive statistics to summarize the transmission failure data.2. Develop a 95% confidence interval for the mean number of miles driven until transmission failure for the population of automobiles with transmission failure. Provide a managerial interpretation of the interval
The manager of the Danvers-Hilton Resort Hotel stated that the mean guest bill for a week end is $600 or less. A member of the hotel's accounting staff noticed that the total charges for guest bills have been increasing in recent months. The accountant will use a sample of future weekend guest
The manager of an automobile dealership is considering a new bonus plan designed to increase sales volume. Currently, the mean sales volume is 14 automobiles per month. The manager wants to conduct a research study to see whether the new bonus plan increases sales volume. To collect data on the
A production line operation is designed to fill cartons with laundry detergent to a mean weight of 32 ounces. A sample of cartons is periodically selected and weighed to determine whether underfilling or overfilling is occurring. If the sample data lead to a conclusion of underfilling or
Because of high production-changeover time and costs, a director of manufacturing must convince management that a proposed manufacturing method reduces costs before the new method can be implemented. The current production method operates with a mean cost of $220 per hour. A research study will
The label on a 3-quart container of orange juice states that the orange juice contains an average of 1 gram of fat or less. Answer the following questions for a hypothesis test that could be used to test the claim on the label.a. Develop the appropriate null and alternative hypotheses.b. What is
Carpetland salespersons average $8,000 per week in sales. Steve Contois, the firm’s vice president, proposes a compensation plan with new selling incentives. Steve hopes that the results of a trial selling period will enable him to conclude that the compensation plan increases the average sales
Suppose a new production method will be implemented if a hypothesis test supports the conclusion that the new method reduces the mean operating cost per hour.a. State the appropriate null and alternative hypotheses if the mean cost for the current production method is $220 per hour.b. What is the
Consider the following hypothesis test:H0: μ ≥ 20Ha: μ < 20A sample of 50 provided a sample mean of 19.4. The population standard deviation is 2.a. Compute the value of the test statistic.b. What is the p-value?c. Using α = .05, what is your conclusion?d. What is the rejection rule using
The Internal Revenue Service (IRS) provides a toll-free help line for taxpayers to call in and get answers to questions as they prepare their tax returns. In recent years, the IRS has been inundated with taxpayer calls and has redesigned its phone service as well as posted answers to frequently

Showing 9100 - 9200 of 88243

First
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
Last

Step by Step Answers

Services

Sitemap
Fun
Definitions
Become Tutor
Used Textbooks
Study Help Categories
Recent Questions
Expert Questions
Campus Wear
Sell Your Books

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship
Online Quiz
Give Feedback, Get Rewards

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Student Discount
Campus Ambassador

Secure Payment

Download Our App

© 2026 SolutionInn. All Rights Reserved