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
S
Books
FREE
Study Help
Expert Questions
Accounting
General Management
Mathematics
Finance
Organizational Behaviour
Law
Physics
Operating System
Management Leadership
Sociology
Programming
Marketing
Database
Computer Network
Economics
Textbooks Solutions
Accounting
Managerial Accounting
Management Leadership
Cost Accounting
Statistics
Business Law
Corporate Finance
Finance
Economics
Auditing
Tutors
Online Tutors
Find a Tutor
Hire a Tutor
Become a Tutor
AI Tutor
AI Study Planner
NEW
Sell Books
Search
Search
Sign In
Register
study help
business
business statistics using excel
Basic Business Statistics Concepts And Applications 5th Edition L. Berenson Mark, David Levine, Kathryn Szabat, Judith Watson, Nicola Jayne, Martin O'brien - Solutions
The lifespan of a certain car battery is normally distributed with a mean of 5 years and a standard deviation of 9 months.a. What is the probability that a battery lasts more than 7 years?b. What proportion of batteries fail within the warranty period of 3 years?c. What warranty period, in months,
Suppose there is a free bus, with no timetable, which circles the city centre every 20 minutes. You arrive at a bus stop unaware of when the bus last arrived at this stop. What is the probability that you will wait for the bus:a. less than 5 minutes?b. between 10 and 15 minutes?c. more than 12
Water_Wise (see problem 3.53) is analysing water usage for a block of one-bedroom flats. It collects data on total daily water consumption in kilolitres (kL) for 133 consecutive days. < WATER >.a. Decide whether total daily water usage in this block of flats is approximately normal by:i. evaluating
From the Household Expenditure Statistics: Year Ended 30 June 2016 (Statistics New Zealand, ), the average weekly household expenditure in New Zealand was $1,300.Assuming that weekly household expenditure is approximately normal with a standard deviation of $350:
has shown that the length of time on hold before a customer hangs up follows an approximate exponential distribution, with an average time of 15 minutes on hold before a customer hangs up.a. What percentage of customers will hang up during the first 20 minutes on hold?b. What is the probability
A study by the ISP provider in problem
The time customers are on hold when ringing the IT help line for a certain ISP provider is normally distributed with a mean of 20 minutes and a standard deviation of 10 minutes.a. What proportion of customers are on hold for more than 40 minutes?b. What is the probability that a customer is on hold
From past data, Safe-As-Houses Real Estate concludes that the age of houses in the suburb of NewAcres is uniformly distributed between 20 and 40 years.What is the probability that the age of a randomly chosen house in NewAcres is:a. more than 30 years?b. between 25 and 35 years?c. less than 35
According to Burton G. Malkiel, the daily changes in the closing price of shares follow a random walk – that is, these daily events are independent of each other and move upwards or downwards in a random manner – and can be approximated by a normal distribution.a. To test this theory, use the
An examination consists of 40 multiple-choice questions, with each question having four options. Suppose you randomly select the answer to each question – that is, you guess. What is the probability of obtaining at least 50% in the examination?
Geoscientists estimate that, on average, a given region has a major earthquake every 250 years.Assuming that the time between major earthquakes in this region is exponentially distributed, what is the probability that a major earthquake:a. will not occur between 2020 and 2030?b. will occur between
The hotels from the chain in problem 6.16 frequently offer discounted ‘hot deal’ rates online. The table below gives the‘hot deal’ rates available recently on a selected Sunday, in Australian dollars. < HOTEL_RATE >
An orange juice producer buys all his oranges from a large orange grove. The amount of juice squeezed from each orange is approximately normally distributed with a mean of 135 mL and a standard deviation of 12 mL.a. What is the probability that a randomly selected orange will contain between 135 mL
Aircraft arrive at a regional airport at a rate of 30 per hour.a. If the interarrival time follows an exponential distribution:i. What is the probability that air traffic control will have a break of at least 2 minutes between arrivals?ii. What is the probability that there is less than 30 seconds
Based on past experience, it is assumed that the number of flaws per metre in rolls of grade 2 paper follow a Poisson distribution with a mean of one flaw per 5 metres of paper.A flaw has just been found.a. What is the probability that:i. there is not another flaw in the remaining 10 metres of the
When can you use the normal distribution to approximate the binomial distribution?
Why is a continuity correction needed when approximating a binomial probability with normal distribution?
How can you use the normal probability plot to evaluate whether a set of data is normally distributed?
What are some of the properties of a normal distribution?
How do you find the X value that corresponds to a given percentile of the normal distribution?
How do you find the area between two values under the normal curve?
For overseas flights, an airline has three different choices on its dessert menu: ice cream, apple pie and chocolate cake. Based on past experience, the airline feels that each dessert is equally likely to be chosen. If a random sample of 90 passengers is selected, what is the approximate
Consider an experiment in which a fair coin is tossed 10 times.a. Use Equation 5.11, Table E.6 or Microsoft Excel to determine the probability of getting:i. four heads ii. at least four heads iii. four to seven headsb. Use the normal approximation to the binomial distribution to approximate the
For overseas flights, an airline has three different choices on its dessert menu: ice cream, apple pie and chocolate cake. Based on past experience, the airline feels that each dessert is equally likely to be chosen. If a random sample of 90 passengers is selected, what is the approximate
Consider an experiment in which a fair coin is tossed 10 times.a. Use Equation 5.11, Table E.6 or Microsoft Excel to determine the probability of getting:i. four heads ii. at least four heads iii. four to seven headsb. Use the normal approximation to the binomial distribution to approximate the
For n 5 100 and p 5 0.4, use the normal distribution to approximate the probability that:a. X 5 40b. X 7 40c. X 8 40d. X , 40
For n 5 100 and p 5 0.2, use the normal distribution to approximate the probability that:a. X 5 25b. X 7 25c. X 8 25d. X , 25
The number of floods in a certain region is approximately Poisson distributed with an average of three floods every 10 years. A flood has just occurred.a. What is the probability that:i. a flood occurs in the next year?ii. there isn’t a flood in the next two years?iii. a flood occurs in the next
Golfers arrive at the starter’s booth of a public golf course at an average of eight per hour during the Monday-to-Thursday midweek period.a. If a golfer has just arrived:i. what is the probability that the next golfer arrives within 15 minutes (0.25 hour)?ii. what is the probability that the
The time between unplanned shutdowns of a power plant has an exponential distribution with a mean of 20 days. Find the probability that the time between two unplanned shutdowns is:a. less than 14 daysb. more than 21 daysc. less than 7 days
Customers arrive at the drive-through window of a fast-food restaurant at an average of two per minute during the lunch hour.a. What is the probability that the next customer will arrive within 1 minute?b. What is the probability that the next customer will arrive within 5 minutes?c. During the
Vehicles arrive, randomly and independently, at a toll booth located at the entrance to a bridge at the rate of 240 per hour between 1 am and 2 am. Suppose a vehicle has just arrived.a. What is the probability that the next vehicle arrives within the next minute?b. What is the probability that no
Given an exponential distribution with l 5 20, what is the probability that X is:a. less than 4?b. greater than 0.4?c. between 0.4 and 0.5?d. less than 0.4 or greater than 0.5?
Given an exponential distribution with l 5 30, what is the probability that X is:a. less than 0.1?b. greater than 0.1?c. between 0.1 and 0.2?d. less than 0.1 or greater than 0.2?
Given an exponential distribution with l 5 10, what is the probability that X is:a. less than 0.1?b. greater than 0.1?c. between 0.1 and 0.2?d. less than 0.1 or greater than 0.2?
In an apartment building the waiting time for a lift is found to be uniformly distributed between 0 and 3 minutes.a. What is the probability of waiting:i. no more than a minute?ii. between 1 and 2 minutes?iii. more than 2 minutes?b. What is the mean and standard deviation of waiting time?
The time of failure for a continuous operation monitoring device of air quality has a uniform distribution over a 24-hour day.a. If a failure occurs on a day when it is daylight between 5.55 am and 7.38 pm, what is the probability that the failure will occur during daylight hours?b. If the device
The time between arrivals of customers at a bank between noon and 1 pm has a uniform distribution over an interval from 0 to 120 seconds.a. What is the probability that the time between the arrival of two customers will be:i. less than 20 seconds?ii. between 10 and 30 seconds?iii. more than 35
Suppose you sample one value from a uniform distribution with a 5 0 and b 5 10.a. What is the probability of getting a value:i. between 5 and 7?ii. between 2 and 3?b. What is the mean?c. What is the standard deviation?
For the data from problem 6.19, < GRADES >, decide whether or not the ‘Exam Mark’ data appear to be approximately normally distributed by:a. evaluating the actual versus theoretical propertiesb. constructing a normal probability plot
The data file < GRADES > contains a sample of student marks and grades from a population of students enrolled in a statistics unit. Decide whether or not the ‘Total Mark’ data appear to be approximately normal by:a. evaluating the actual versus theoretical propertiesb. constructing a normal
Many manufacturing processes use the term work-in-progress(often abbreviated to WIP). In a book-manufacturing plant, the WIP represents the time it takes for sheets from a press to be folded, gathered, sewn, tipped on end sheets and bound. The following data represent samples of 20 books at each of
A problem with a telephone line that prevents a customer from receiving or making calls is disconcerting to both the customer and the telephone company. The following data represent two samples of 20 problems reported to two different offices of a telephone company. The time to clear these problems
The full daily rates in Australian dollars for a random sample of 19 Australian and New Zealand hotels from a certain chain are as follows: < HOTEL_RATE >
For a sample of n 5 6, list the six Z values.
When evaluating normality, show that, for a sample of n 5 39, the smallest and largest Z values are 21.96 and 11.96, and the middle (i.e. 20th) Z value is 0.00.
Many manufacturing problems involve the accurate matching of machine parts, such as shafts, that fit into a valve hole. A particular design requires a shaft with a diameter of 22.000 mm, but shafts with diameters between 21.900 mm and 22.010 mm are acceptable. Suppose that the manufacturing process
The number of shares traded daily is referred to as the volume of trade. During 2008 the average volume traded daily for the ASX All Ordinaries was 992 million with a standard deviation of 252 million (Sydney Morning Herald, , October 2008 and January 2009).Assume that the number of All Ordinaries
A statistical analysis of 1,000 long-distance telephone calls made from the headquarters of the Bricks and Clicks Computer Corporation indicates that the length of these calls is normal with m 5 240 seconds and s 5 40 seconds.a. What is the probability that a call lasted less than 180 seconds?b.
A set of final examination marks in an introductory statistics unit is normally distributed with a mean of 73 and a standard deviation of 8.a. What is the probability of getting a mark of 91 or less?b. What is the probability that a student obtains a mark between 65 and 89?c. If the lecturer gives
The breaking strength of plastic bags used for packaging produce is normally distributed with a mean of 35 kPa(kilopascals) and a standard deviation of 10 kPa.a. What proportion of the bags have a breaking strength of:i. less than 20 kPa?ii. at least 30 kPa?iii. between 25 and 45 kPa?b. Between
Toby’s Trucking Company determined that, on an annual basis, the distance travelled per truck is normally distributed with a mean of 100,000 kilometres and a standard deviation of 20,000 kilometres.a. What proportion of trucks can be expected to travel between 80,000 and 120,000 kilometres in the
The records of Check$mart Bank show that the average credit card balance of its customers is $3,325 with a standard deviation of $1,500. Assume that the distribution of these credit card balances is approximately normal.a. Find the probability that an account balance is less than $2,500.b. Find the
Given a normal distribution with m 5 50 and s 5 4, what is the probability that:a. X 7 43?b. X , 42?c. 5% of the values are less than which X value?d. 60% of the values are between which two X values(symmetrically distributed around the mean)?
Given a normal distribution with m 5 100 and s 5 10, what is the probability that:a. X 7 75?b. X , 70?c. X , 80 or X 7 110?d. 80% of the values are between which two X values(symmetrically distributed around the mean)?
a. Given the standard normal distribution, determine the following probabilities:i. P (Z 7 1.08)ii. P (Z , 20.21)iii. P (2 1.96 , Z , 20.21)b. What is the value of Z if only 15.87% of all possible Z values are larger?
Given the standard normal distribution, what is the probability that:a. Z is less than 1.08?b. Z is greater than 20.21?c. Z is less than 20.21 or greater than the mean?d. Z is less than 20.21 or greater than 1.08?
a. Given the standard normal distribution, what is the probability that:i. Z is between 21.57 and 1.84?ii. Z is less than 21.57 or greater than 1.84?b. What is the value of Z if only 2.5% of all possible Z values are larger?c. Between which two values of Z (symmetrically distributed around the
Given the standard normal distribution (with a mean of 0 and a standard deviation of 1, as in Table E.2), what is the probability that:a. Z is less than 1.57?b. Z is greater than 1.84?c. Z is between 1.57 and 1.84?d. Z is less than 1.57 or greater than 1.84?
The Ashland MultiComm Services (AMS) marketing department wants to increase subscriptions for a combined telephone, pay TV and Internet bundle called 3-For-All. AMS marketing has been conducting an aggressive directmarketing campaign that includes postal and electronic mailings and telephone
Pat’s Used Cars sells on average 3.6 used cars in a normal trading day. Assume the number of used cars sold follows a Poisson distribution.Determine:a. the probability that five used cars are sold in a dayb. the probability that no more than two used cars are sold in a day
A hand of five cards is dealt from a shuffled standard pack of 52 cards.Find the probability that:a. all the cards are redb. exactly two of the cards are redc. at least one card is redd. the hand contains four kingse. the hand has at least one kingf. all the cards are hearts g. the cards are all
In a regional city, on average 2.6 traffic accidents are reported an hour from 7 am to 7 pm.On a given day, what is the probability that:a. four accidents are reported from 9 am to 9.30 am?b. five accidents are reported from 2 pm to 4 pm?c. three or four accidents are reported from 2 pm to 3 pm?d.
Past data indicate that 6% of all students enrolled in a firstyear statistics unit at Tasman University obtain a High Distinction (HD). Assume that students are allocated randomly to a tutorial group.a. What is the probability that in a tutorial group of 30 students:i. none receive an HD?ii. at
The breakdown by home address of the previous year’s 993 drink-driving offences in Problem 2.67 is:
You are trying to develop a strategy for investing in two different shares. The anticipated annual return for a $1,000 investment in each share has the following probability distribution:
The following table gives the grade distribution at a certain university.
In an online test, 10 multiple-choice questions are randomly selected from a test bank of 100 questions.Supposing that each student has two attempts at the online test, what is the probability that in the second test a student attempts there are:
A study of various news home pages reports that the mean number of bad links per home page is 0.4 and the mean number of spelling errors per home page is 0.16. Use the Poisson distribution to find the probability that a randomly selected home page will contain:a. no bad linksb. five or more bad
Suppose the average number of students who log on to a university’s computer system is 4.45 in each 5-minute interval.a. What is the probability that six students will log on in the next minute?b. What is the probability that fewer than six students will log on during the next two minutes?
A customer service manager of Check$mart bank is monitoring one of its phone banking call centres servicing a rural region.Suppose that on average the call centre receives 180 calls an hour during its operating hours of 8 am to 6 pm.a. Can the Poisson distribution be used to model the number of
In 2016, the New Zealand general marriage rate was 10.95 marriages and civil unions per 1,000 population 16 years and over who are not married or in a civil union. The corresponding divorce rate was 8.7 per 1,000 existing marriages and civil unions (data obtained from Marriage, Civil Unions and
Check$mart’s records show that 58% of its customers pay only the minimum repayment on their credit card each month.a. If a random sample of 20 credit-card holders is selected, what is the probability that:i. none pays the minimum amount?ii. no more than five pay the minimum amount?iii. more than
The emergency facility at a small country hospital has been in operation for 60 weeks and has been used 120 times. The weekly pattern of demand for this facility has a Poisson distribution. Find the:a. mean demand per weekb. probability the emergency facility is not used in a given weekc.
When calculating premiums on life insurance products, insurance companies often use life tables that enable the probability of a person dying in any age interval to be calculated.The following data obtained from the ‘New Zealand Abridged Period Life Table: 2014-16’ gives the number out of
At a recent election, 12% of the voters in a certain electorate gave their first preference to the Greens candidate. If 10 people on the electoral roll for that electorate were randomly selected, find the probability that:a. exactly four gave their first preference to the Greens candidateb. at most
From September 1984 to July 2017 the ASX All Ordinaries Index has opened higher than the previous month for 233 of the 395 months – that is, approximately 59.0% of months(Data from YAHOO!7FINANCE accessed July 2017).a. Assuming a binomial distribution, estimate the probability that the ASX All
When is the hypergeometric distribution used instead of the binomial distribution?
What are the three properties of a Poisson distribution?
What are the four properties of a binomial distribution?
What is the meaning of the expected value of a probability distribution?
In a certain game of Lotto six numbers are selected from 1 to 45. Six winning numbers are chosen at random plus two supplementary numbers. Use the formula in problem 5.38 or Equation 5.15 to calculate the following probabilities.a. To win Division 1, the six winning numbers must be selected. In any
In each game of OZ Lotto seven numbers are selected, from 1 to 45. Seven winning numbers are chosen at random plus two supplementary numbers. An extension of the hypergeometric distribution to calculate probabilities of selecting combinations of winning and supplementary numbers is:
In a shipment of 15 hard disks, five are defective. If four of the disks are inspected,a. What is the probability that:i. exactly one is defective?ii. at least one is defective?iii. no more than two are defective?b. What is the mean number of defective hard disks that you would expect to find in
The dean of a business faculty wishes to form an executive committee of five from among the 40 tenured faculty members.The selection is to be random, and there are eight tenured faculty members in accounting.a. What is the probability that the committee will contain:i. none of them?ii. at least one
An auditor for the Australian Taxation Office is selecting a sample of six tax returns from a batch of 100 for an audit. If two or more of these returns contain errors, the entire batch of 100 tax returns will be audited.
Referring to problem 5.33, calculate the mean and the standard deviation for the hypergeometric distributions described in (a) to (d)
Determine the following:a. If n = 4, N = 10 and A = 5, find P(X = 3).b. If n = 4, N = 6 and A = 3, find P(X = 1).c. If n = 5, N = 12 and A = 3, find P(X = 0).d. If n = 3, N = 10 and A = 3, find P(X = 3).
calls are received per minute.a. What properties must be true about the situation described above in order to use the Poisson distribution to calculate probabilities concerning the number of phone calls received in a 1-minute period?b. Assuming that this situation matches the properties you discuss
A toll-free phone number is available from 9 am to 9 pm for customers to register a complaint about a product purchased from a large company. Past history indicates that an average of
Based on past experience, it is assumed that the number of flaws per metre in rolls of grade 2 paper follow a Poisson distribution with a mean of one flaw per 5 metres of paper.What is the probability that in a:a. 1-metre roll there will be at least two flaws?b. 10-metre roll there will be at least
The number of floods in a certain region is approximately Poisson distributed with an average of three floods every 10 years.a. Find the probability that a family living in the area for one year will experience:i. exactly one flood ii. at least one floodb. Find the probability that a student who
Refer to problem 5.28. How many biscuits in a batch of 100 should the manager expect to discard if company policy requires that all chocolate-chip biscuits sold must have at least four chocolate-chip parts?
The quality control manager of Marilyn’s Bakery is inspecting a batch of chocolate-chip biscuits that has just been baked. If the production process is in control, the mean number of chip parts per biscuit is 6.0. What is the probability that, in any particular biscuit being inspected:a. fewer
Assume a Poisson distribution with λ = 5. Find the probability that:a. X = 1b. X 6 1c. X > 1d. X ⩽ 1
Assume a Poisson distribution.a. If λ = 2, find P(X 9 2).b. If λ = 8, find P(X 9 3).c. If λ = 0.5, find P(X ⩽ 1).d. If λ = 4, find P(X 9 1).e. If λ = 5, find P(X ⩽ 3).
Assume a Poisson distribution.a. If λ = 2.5, find P(X = 2).b. If λ = 8, find P(X = 8).c. If λ = 0.5, find P(X = 1).d. If λ = 3.7, find P(X = 0).
A new drug is found to be effective on 90% of the patients tested.a. Is the 90% effective rate best classified as a priori classical probability, empirical classical probability or subjective probability?b. If the drug is administered to 20 randomly chosen patients at a large hospital, find the
When a customer places an order with Rudy’s On-Line Office Supplies, a computerised accounting information system (AIS)automatically checks to see whether the customer has exceeded their credit limit. Past records indicate that the probability of customers exceeding their credit limit is
In a certain weekday television show, the winning contestant has to choose randomly from 20 boxes, one of which contains a major prize of $100,000.a. What is the probability that, during a week:i. no contestant wins the major prize?ii. exactly one contestant wins the major prize?iii. no more than
Showing 900 - 1000
of 2900
First
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Last
Step by Step Answers
Get 50% OFF
Claim Now
