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mathematics
business statistics

Questions and Answers of Business Statistics

A card is randomly drawn from a deck of cards and then replaced. The process continues until 3 clubs are obtained. Find the average number of trials needed to get 3 clubs.Another type of problem that
An 8-sided die is rolled. The sides are numbered 1 through 8. Find the average number of rolls it takes to get two 5s.Another type of problem that can be solved uses what is called the negative
Cards are drawn at random from a deck and replaced after each draw. Find the average number of cards that would be drawn to get 4 face cards.Another type of problem that can be solved uses what is
About 4% of the citizens of the United States have type AB blood. If an agency needed type AB blood and donors came in at random, find the average number of donors that would be needed to get a
It is estimated that 4 out of 5 men prefer showers to baths. Find the mean and standard deviation for the distribution of men who prefer showers to baths.The mean of a geometric distribution is μ =
About 2 out of every 3 children take some kind of lessons outside of school. These lessons include music, art, and sports. Find the mean and standard deviation of the distribution of the number of
One in five teachers stated that he or she became a teacher because of the long summer vacations. Find the mean and standard deviation for the distribution of teachers who say they became teachers
One worker in four in America admits that she or he has to do some things at work that go against her or his consciences. Find the mean and standard deviation for the distribution of workers who
Determine whether the distribution represents a probability distribution. If it does not, state why. 15 10 0.1 10 х 0.3 0.4 P(X)
Determine whether the distribution represents a probability distribution. If it does not, state why. P(X) 10 10 10 |-12 2.
Determine whether the distribution represents a probability distribution. If it does not, state why. 16 9. 4 9. |х 1 P(X)
At Shoe World, the manager finds the probability that a woman will buy 1, 2, 3, or 4 pairs of shoes is shown. Construct a graph for the distribution. Number X 1 3 0.08 4 0.02 Probability P(X) 0.63
A bank has a drive-through service. The number of customers arriving during a 15-minute period is distributed as shown. Find the mean, variance, and standard deviation for the distribution. Number of
A phone service center keeps track of the number of customers it services for a random 1-hour period during the day. The distribution is shown.Find the mean, variance, and standard deviation for the
A producer plans an outdoor regatta for May 3. The cost of the regatta is $8000. This includes advertising, security, printing tickets, entertainment, etc. The producer plans to make $15,000 profit
In a retirement community, 14% of cell phone users use their cell phones to access the Internet. In a random sample of 10 cell phone users, what is the probability that exactly 2 have used their
Fifty-eight percent of people surveyed said that they would take a ride in a fully self-driving automobile. Find the mean, variance, and standard deviation of the number of people who would agree to
American Energy Review reported that 27% of American households burn wood. If a random sample of 500 American households is selected, find the mean, variance, and standard deviation of the number of
Three out of four American adults under age 35 have eaten pizza for breakfast. If a random sample of 20 adults under age 35 is selected, find the probability that exactly 16 have eaten pizza for
According to survey records, 75.4% of women aged 20–24 have never been married. In a random sample of 250 young women aged 20–24, find the mean, variance, and standard deviation for the number
After a recent national election, voters were asked how confident they were that votes in their state would be counted accurately. The results are shown below.46% Very confident...........41%
Before a DVD leaves the factory, it is given a quality control check. The probabilities that a DVD contains 0, 1, or 2 defects are 0.90, 0.06, and 0.04, respectively. In a sample of 12 DVDs, find the
The probability that an accounting company will make 0, 1, 2, or 3 errors in preparing a yearly budget for a small company is 0.50, 0.28, 0.15, and 0.07 respectively. If 20 companies have the firm
Transportation officials reported that 8.25 out of every 1000 airline passengers lost luggage during their travels last year. If we randomly select 400 airline passengers, what is the probability
The number of boating accidents on Lake Emilie follows a Poisson distribution. The probability of an accident is 0.003. If there are 1000 boats on the lake during a summer month, find the probability
If 5 cards are drawn from a deck, find the probability that 2 will be hearts.
Of the 50 automobiles in a used-car lot, 10 are white. If 5 automobiles are selected to be sold at an auction, find the probability that exactly 2 will be white.
At a food bank a case of donated items contains 10 cans of soup, 8 cans of vegetables, and 8 cans of fruit. If 3 cans are selected at random to distribute, find the probability of getting 1 can of
A die is rolled until a 3 is obtained. Find the probability that the first 3 will be obtained on the fourth roll.
A card is selected at random from an ordinary deck and replaced. Find the probability that the first face card will be selected on the fourth draw.
Cyber Communications, Inc., has a new cell phone product under development in the research and development (R&D) lab. It will increase the megapixel capability of cell phone cameras to the 12+
In a large metropolitan area, 65% of commuters ride the train only, 18% ride the bus only, and 6% ride both the train and the bus to get to the central business district.a. What is the probability
In a large shipment of electronic parts, 0.015 are bad. The parts are tested using a machine that correctly identifies bad parts as defective with a probability of 0.98, and correctly identifies good
A large coffeehouse has found that 50% of all customers order food, 80% order coffee, and 40% order both. What is the probability that a customer at the coffeehousea. Orders food but no coffee?b.
After spending some time studying company e-mail accounts, the manager of computer security for a large insurance company has determined that 25% of all e-mail messages sent to employee computers are
Based on a survey conducted by students in the Recreational Management degree program, 65% of students at the university own a mountain bike, 25% own a road bike, and 6% own both a mountain bike and
Thirty-five percent of all customers of a large, national financial institution manage their accounts online. What is the probability that in a random sample of three customers from the financial
Five hundred smartphone owners were asked if they use their phones to download sports scores. The responses are summarized in the following table:a. What is the probability that a randomly sampled
An April 14, 2015, article by Kara Brandeisky on Money magazine’s website states that overall the chance of being audited by the IRS in 2014 was 0.86%. If a person’s adjusted gross income was
When customers call into a bank’s customer service phone line, they are asked to complete a survey on service quality at the end of the call. Six out of ten customers agree to do the survey. Of
The loan manager for High Desert Bank selected a sample of the loans her bank has made in the past year. The file High Desert Banking contains information on the loan amount, the type of loan, and
ECCO is a company that makes backup alarms for commercial vehicles and heavy-duty equipment like forklifts. The data file ECCO contains warranty claim data as well as the associated manufacturing
Trucks that travel on U.S. highways have to stop at various locations to be weighed and inspected for safe brakes and light systems. Of these trucks, 77% are on interstate commerce business while 23%
A Bipartisan Policy Center article indicated that 57.5% of the voting-age voters cast ballots in the 2012 presidential election. It also indicated that 70% of registered voters voted in the election.
Online marketplaces such as Craigslist have become a popular way for individuals to buy and sell miscellaneous items. The table below shows the numbers of days products stayed active (not sold) on
A hair salon caters to both men and women. In addition to hairstyles, the salon provides back and shoulder massages. In the past, 42% of men have requested a massage and 61% of women have requested a
Based on a USA Today online article by Kevin McCoy (“IRS audit rate for individuals drops,” www.usatoday.com, Feb. 24, 2015), an individual taxpayer’s chance of being audited in 2014 was
A survey of 490 workers included the question €œIn your opinion, is it OK for a company to monitor its employees€™ Internet use?€ The possible responses were:(1) Only
Use a tree diagram to list the sample space for the number of movies rented by three customers at a Red Box video kiosk where customers are allowed to rent one, two, or three movies (assuming that
A manufacturing company operates three shifts daily. Each shift produces two models: A and B. A random sample of daily production has been taken, and the results are in the file Shift Production.a.
A coffee shop would like to compare the dollar purchases of customers who use the drive-thru and those who come inside. A random sample of inside and drivethru purchases is taken, and the results are
The AJ Fitness Club is a full-service fitness center that offers its members the latest in weight machines, cardio equipment, and exercise classes. The company has surveyed its members to learn how
A company in Silicon Valley periodically offers its employees a full health screen in which data are collected on several characteristics including percent body fat. Data for a sample of employees
The Jones and McFarlin Company provides call center support for a number of electronics manufacturers. Customers call in to receive assistance from a live technician for the products they have
Efficient Hiring, Inc., assists companies in hiring people to fill jobs. The file called Hired contains data on a sample of the placements made by the company. The two variables in the file are the
For the following situation, indicate whether the statistical application is primarily descriptive or inferential.“The manager of Anna’s Fabric Shop has collected data for 10 years on the
Locate one of the online job websites and pick several job listings. For each job type, discuss one or more situations in which statistical analyses would be used. Base your answer on research
If a pet store wishes to determine the level of customer satisfaction with its services, would it be appropriate to conduct an experiment? Explain.
According to a December 2004 report in AgResearch Magazine titled “Putting out the fire” issued by the U.S. Department of Agriculture (USDA), the agency estimates that about 40% of all people who
As part of a consulting project for a local ABC television affiliate, a survey was conducted with 744 respondents. Of those responding, 32% indicated that they prefer to watch local news on this
If the manager at First City Bank surveys a sample of 100 customers to determine how many miles they live from the bank, is the mean travel distance for this sample a parameter or a statistic?
During the 2016 presidential campaign, an NBC News/Wall Street Journal poll conducted between December, 16, 2015, and January 13, 2016, showed that Marco Rubio would beat Hillary Clinton in the
To evaluate the quality of its airline service, airline managers want to randomly sample passengers traveling between two large airports. On a particular day, all 578 passengers flying between the
Consumer Reports, in its rating of cars, indicates repair history with circles. The circles are either white, black, or half and half. To which level of data does this correspond? Discuss.
With what level of data is a bar chart most appropriately used?
With what level of data is a histogram most appropriately used?
You want to sample 40 NBA players. Your friend who is a big NBA fan has offered to give you a list of his 40 favorite players.a. Discuss why your friend’s list is not a random sample and is
The 21st annual J.D. Power and Associates’ customer satisfaction survey, the Automotive Performance, Execution and Layout (APEAL) StudySM, measures owners’ satisfaction with the design, content,
A marketing research firm was hired to conduct a study aimed at determining the number of alcoholic drinks individuals consumed during a week’s time in the Seattle, Washington, area. The firm
Boston Properties is a real estate investment trust (REIT) that owns first class office properties in selected markets. According to its website (www .bostonproperties.com), the 2014 occupancy rates
National Football League (NFL) football continues to be arguably the most popular professional sport in the United States. The following data reflect the 2015 attendance at the eight regular-season
The following data show the July 2011–June 2012 U.S. sales of antidepressant drugs by major brand:Antidepressant Drug .....................................Sales (in Billions)Cymbalta
The 2014 Annual Report for Murphy Oil Corporation (see www.murphyoilcorp.com) shows the following numbers of barrels of crude oil produced per day in the United States annually from 2008 through
The 2014 Annual Report of the Procter & Gamble Company (see www.pginvestor.com) reported the following percentages for its five global business segments:Global Segment
The following data represent the seat capacity for major airlines on an annual basis:a. Construct a bar graph representing the seat capacity of the major airlines for the five airlines indicated.b.
A survey conducted at a state university that asked students what brand of digital music device they owned yielded the following data:a. Generate a bar chart to display these data.b. Generate a pie
The year-end net income (in millions) for a company for the years 2004 2015 are shown below:Develop a chart that effectively displays the income data over time. 2006 2004 25.9 2010 64 2007 31.7 31.7
Amazon.com celebrated its 20th anniversary in July 2014. Its growth can be seen by examining its increasing sales volume (in $billions):2008 ................................. 19.172009
The following data show worldwide computer/video game sales:Year Sales ....................(billions)2000 ................................. $48.22001 ................................. $45.42002
The recent performance of U.S. equity markets has increased the popularity of dividend-paying stocks for some investors. Shown below are the diluted net earnings per common share and the dividends
On July 31, 2015, usatoday.com reported on big oil profits. The file BIGOIL contains the quarterly combined net incomes of the oil companies that are part of the S&P 500 Index for 2006 through
Wilson Green started a lawn service business in 1997 with 15 customers. By 2015 his customer list had grown to 6,530 customers across three cities. The file WilsonGreen contains data showing the
The data in the file called Gasoline Prices reflect the average price of regular unleaded gasoline in the state of California for 36 consecutive years. The first price column is the actual average
The G.H. Hillman Company sells designer clothes under various brand names. The data file called Hillman contains the unit sales (in thousands) for their swimsuit line in both the east and west
A current emphasis in U.S. education is on the STEM disciplines (science, technology, engineering, and mathematics). The following data represent the percentages by gender of bachelor and doctorate
The file titled Diesel$ contains the average on-highway diesel prices for the last Friday of the month in the years 2013–2015. Develop a line chart that shows the trend in diesel prices, and write
The file titled Diesel$ contains the average nationwide diesel price on the last Friday of the month for the years 2013–2015.a. Construct a histogram with 11 classes.b. What are the possible
The following data reflect the tips received by a random sample of 20 restaurant servers in Denver, Colorado, during a 4-hour breakfast shift:a. Compute the mean tips received by the servers in the
The La Costa Corporation operates five manufacturing plants in South America. The company tracks the medical costs that are directly attributed to accidents that occur at the plants each year. The
According to the website www.fdic.gov, the Federal Deposit Insurance Corporation (FDIC) insures deposits in banks and thrift institutions for up to $250,000. In 2015, the FDIC insured 5,410
The placement center at a southern university tracks starting salaries. The data file called BI SALARIES lists the starting salaries for the 25 graduates in Information Technology who completed one
The College Board website (www.collegeboard.org) reported that the average cost of textbooks and supplies for students attending four-year public colleges and universities in the 2015€“16
The Bureau of Labor Statistics website (www.bls.gov) provides data on month-to-month changes in the U.S. export index for agricultural commodities during 2015. These data are reproduced here:Month
What is a frequency distribution of qualitative data and why is it useful?
Explain the meaning ofa. Distribution of a data set.b. Sample data.c. Population data.d. Census data.e. Sample distribution.f. Population distribution.g. Distribution of a variable.
A certain state’s license plate has 3 letters followed by 4 numbers. Repeats are not allowed for the letters, but they are for the numbers. How many such license plates are possible? If they are
There are 6 Republican, 5 Democrat, and 4 Independent candidates. How many different ways can a committee of 3 Republicans, 2 Democrats, and 1 Independent be selected?
In a meeting room in a dormitory there are 8 bags of potato chips, 5 bags of popcorn, 2 bags of pretzels, and 1 bag of cheese puffs. If a student selects 1 bag at random, find the probability that it
A flight from Pittsburgh to Charlotte has a 90% on-time record. From Charlotte to Jacksonville, North Carolina, the flight is on time 80% of the time. The return flight from Jacksonville to Charlotte
How many different ways can 6 identical hardback books, 3 identical paperback books, and 3 identical boxed books be arranged on a shelf in a bookstore?

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