All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Ask a Question

Search
Sign In
Register

study help
mathematics
business statistics

Questions and Answers of Business Statistics

A study by the ASX reveals that 39% of the Australian adult population are shareholders. In addition, the study determines that 7.1% of all Australian adult shareholders have postgraduate education.
Determine the mean, variance and standard deviation of the following discrete distribution. Explain the results.x ........................... P(x)0 ...........................0.0911
Solve the following problems by using the binomial formula.(a) If n = 5 and p = 0.10, find P(x = 2).(b) If n = 8 and p = 0.80, find P(x = 5).(c) If n = 10 and p = 0.70, find P(x ≥ 6).(d) If n = 13
Solve the following problems by using the binomial tables (table A.1 in the appendix).(a) If n = 20 and p = 0.50, find P(x = 12).(b) If n = 20 and p = 0.30, find P(x > 8).(c) If n = 20 and p =
Find the mean and standard deviation of the following binomial distributions.(a) n = 20 and p = 0.70(b) n = 70 and p = 0.35(c) n = 100 and p = 0.50
A survey of holiday accommodation in New Zealand shows that in Auckland, excluding caravan parks and camping grounds, 42% were full (i.e. had no vacancies). A random sample of 25 holiday
A survey conducted by Certified Practising Accountants Australia to investigate the reaction to new audit standards issued by the Auditing and Assurance Standards Board finds that only 53% of
The normal distribution can model many real-world characteristics that can be measured. Explain why the height of 18-year-old boys, the volume contained in 2-litre bottles of a particular brand of
Free-range eggs are produced on a farm. The weight of these eggs is found to be normally distributed with a mean of 55 g and standard deviation of 1 g. Using the empirical rule and no calculations,
Using σ = 25 and σ = 3, calculate the corresponding z-scores for each of the following values of x.(a) 16(b) 20(c) 24(d) 28
Using σ = 100 and σ2 = 25, calculate the corresponding z-scores for each of the following values of x.(a) 85(b) 92(c) 103(d) 113
Determine the probability for the following intervals of the standard normal distribution.(a) z ≥ 1.96(b) z < 0.73(c) –1.46 < z ≤ 2.84(d) –2.67 ≤ z ≤ 1.08(e) –2.05 < z ≤
A survey shows that one in five people aged 16 years or older do some volunteer work. If this figure holds for the entire population and if a random sample of 150 people aged 16 years or older is
Truck freight delivery times between Brisbane and Sydney have been found to be approximately normally distributed. If the average freight delivery time is 12.5 hours with a standard deviation of 0.45
The values of investment properties in Brisbane are normally distributed with mean $360 000 and standard deviation $60 000. An investment property is randomly selected.(a) What is the probability
The age of real estate investors is found to be normally distributed with a mean of 40 years and a standard deviation of 10 years. What proportion of investors are below the age of 25?
According to the Department of Building and Housing, the average rent for a one-bedroom Auckland City apartment is NZ$314 with a standard deviation of $88. Given that rents are normally distributed,
Consider the average home loan in New Zealand of $283 000, where the standard deviation is $50 000 and home loans are normally distributed.(a) What proportion of home loans are more than $250 000?(b)
The weights of a medium-sized loaf of homemade bread in Australia, using high-grade baking flour and a bread-making machine, have been found to be normally distributed with an average weight of 750 g
It is estimated that the cost of running a small car is $150 per week, based on driving 15 000km per year. Taking the cost to be normally distributed with a standard deviation of $10 per week, answer
The average speeds of passenger trains travelling from Kyoto to Tokyo have been found to be normally distributed with a mean of 250 km per hour and standard deviation of 30 km per hour. What is the
Solve the following problems, assuming that the data are normally distributed.(a) The standard deviation of the distribution is 12.56, and 71.97% of the values are greater than 56. What is the value
Determine whether the following binomial distributions can be adequately approximated by a normal distribution.(a) p = 0.1, n = 10(b) p = 0.2, n = 30(c) p = 0.6, n = 15(d) p = 0.8, n = 15(e) p = 0.9,
If each of the following binomial distributions can be approximated by a normal distribution, what are the values of the mean and standard deviation?(a) p = 0.2, n = 25(b) p = 0.5, n = 25(c) p = 0.7,
In the TV game show The Price is Right, two contestants spin a wheel that is divided into 100 equal segments numbered 1 to 100. After each contestant spins the wheel and it stops, the one who lands
In the TV game show Temptation, one of the temptations is the ‘temptation vault’, in which the leading contestant presses a buzzer to win a dollar amount from $1 up to $10000. What is the
ABS data show that young full-time students work an average of 15 hours per week. If the number of hours worked is normally distributed with this mean and 10% of students work more than 25 hours a
Let x follow an exponential distribution. Determine the following probabilities.(a) P(x ≥ 5 | ???? = 1.35)(b) P(x < 3 | ???? = 0.68)(c) P(x > 4 | ???? = 1.7)(d) P(x < 6 | ???? = 0.80)
During the dry month of December, Perth has measurable rain on average for only 2 days of the month. If the arrival of rainy days is Poisson distributed in Perth during the month of December, what is
(a) A study is to be conducted to look at consumer gambling habits in the horseracing industry.(b) A local government wants to understand the attitudes of its ratepayers. A representative community
The mean of a population is 54 and the standard deviation is 10. The shape of the population is unknown. Determine the probability of each of the following occurring for this population.(a) A random
List some strata into which each of the following variables can be divided.(a) Employee qualification(b) Company value(c) Car park size(d) Degree program studied by university students(e) Job
Forty-six per cent of a population possesses a particular characteristic. Random samples are taken from this population. Determine the probability of each of the following occurrences.(a) The sample
Suppose the age distribution in a city is as follows.Age ......................... PercentageUnder 18 .................... 16%18–25 .......................... 19%26–50 ..........................
If a university employed 3500 academic staff and a random sample of 175 academic staff was selected using systematic sampling, what value of k was used? Between what two values would the sampling
For each of the following research projects, list at least one area or cluster that could be used in obtaining the sample.(a) A study of road conditions in the North Island of New Zealand(b) A study
A population is normally distributed with a mean of 14 and a standard deviation of 1.2. What is the probability of each of the following?(a) Taking a sample of 26 and obtaining a sample mean of 13.7
Give an example of how convenience sampling could be used in a study of Australian Financial Review Top 1000 CEOs to measure corporate attitudes towards paternity leave for employees.
A population has a mean of 150 and a standard deviation of 21. If a random sample of 49 is taken, what is the probability that the sample mean is:(a) Greater than 154(b) Less than 153(c) Less than
The Department of Housing can provide apartment accommodation in a particular city. The average cost of renting a two-bedroom apartment in this city is $800 per month. What is the probability of
According to the ABS, the average length of stay by tourists in Queensland’s hotels, motels and serviced apartments is 2.2 days with a standard deviation of 1.2 days. A sample of 65 randomly
According to ABS figures, average weekly total earnings of all employees in Australia is $1179 per week. Take this population standard deviation to be $45 per week. If a representative random sample
A new housing estate contains 1500 houses. A sample of 100 houses is selected randomly and evaluated by a real estate agent. If the mean appraised value of a house for all houses in this area is
The monthly mobile phone bill for all customers at a large telecommunications company is found to be normally distributed with a mean of $145.55 per month and standard deviation of $15.22 per month.
It is estimated that 80% of occupants use electricity as their main source of heating during winter in newly constructed apartments in Auckland. A random sample of 100 apartments is selected to
A recent survey of Australians found that mean sleep time was 8 hours with a standard deviation of 3 hours. Assume sleep time is normally distributed. What is the probability that:(a) A randomly
For a population with p = 0.6, find the probability for each sample proportion and given sample size.(a) n = 12 and p̂ < 0.77(b) n = 30 and p̂ > 0.56(c) n = 65 and 0.54 < p̂ < 0.56(d)
A population proportion is 0.32. Suppose a random sample of 40 items is sampled randomly from this population. What is the probability that the sample proportion is:(a) Greater than 0.42(b) Between
According to a study undertaken in a large rural town, 15% of children aged from 10 to 16 years were found to exercise less than one hour per day. If a random sample of 35 children in this age group
Use these data to construct 90%, 95% and 99% confidence intervals to estimate ?. Assume ? is 4.9. State the point estimate.
Use the following information to construct the confidence intervals specified to estimate µ.(a) 99% confidence for X̅ = 35, σ = 5.2 and n = 55(b) 95% confidence for X̅ = 85, σ = 6.3 and n =
A company sells 25 g boxes of sultanas that are promoted as a healthy snack food option for children. The company wants to estimate the number of sultanas packed into a box. To do so, a random sample
In planning both market opportunity and production levels, being able to estimate the size of a market can be important. Suppose a nappy manufacturer wants to know how many nappies a 1-month-old baby
A toothbrush company sells a particular model of toothbrush nationally. The company is interested in knowing the average retail price across the country. A researcher employed by the company randomly
A book publisher wishes to estimate the average number of printed pages in textbooks used by university students. A random sample of 65 university textbooks is selected. The average number of printed
The following data are selected randomly from a population of normally distributed values. Construct a 90% confidence interval to estimate the population mean. 27.8 20.5 20.5 19.7 24.8 21.0 22.3
In light of your results in problem 14.27, experiment with various combinations of all of the variables in an attempt to better predict mass. Comment on your preferred model. If you are a male aged
Use computer software to develop the equation of the regression model for the following data. Comment on the regression coefficients. Determine the predicted value of y for x1 =200 and x2 =7. X2 У
You are the manager of a removal company and want to develop a more accurate way of predicting the labour requirements for moving jobs. You decide to use the volume of goods (in cubic metres) that is
MyBank regularly conducts job advertisement surveys in Australia. The average numbers of MyBank?s online newspaper job advertisements per week in Australian states and territories in July 2019 and
A retail store manager knows the average weekly sales revenue for last year was $42 000. The store manager also knows that weekly sales are subject to many factors and show a large amount of
A production process is known to produce output with a variance of 4 units 2. Management is concerned that the variance in the production process has changed. Data collected from a random sample of
Suppose a null hypothesis is that the population mean is greater than or equal to 40. Suppose further that a random sample of 52 items is taken and the population standard deviation is 8. For each of
A national study recently reported that the average age of a female shareholder is 44 years. A broker in Adelaide wants to know whether this figure is accurate for the female shareholders in
A boutique confectioner wants to estimate the difference between the average weights of its handmade chocolates sold in Sydney and Melbourne. According to the confectioner’s researcher, a random
An investor on the Australian Securities Exchange (ASX) wants to check if there is a significant difference in dividend yields between stocks which have market capitals of over one billion dollars
A medical association monitoring two groups of physicians who agreed to participate in a study over a 7-year period found that, of 3420 physicians who took aspirin daily, 147 died from a stroke or
Based on an indication that mean daily car-rental rates may be higher in Melbourne than in Sydney, a survey of eight car-rental companies in Melbourne is taken and the sample mean car-rental rate is
G Jones et al. studied the effect of feed withdrawal on the live weight of pigs during the weaning phase. They weighed the pigs in the evening and the following morning after a time lapse of 11 hours
A market research firm is analysing the profits of its five largest clients in NSW, Queensland and Victoria to decide where it should prioritise its market. Use a one-way ANOVA to analyse the
Road safety is a high priority for all levels of government. Suppose a survey was conducted by the automobile associations in four Australian states to determine motorists? views of the condition of
A social scientist wants to investigate whether having a university degree and staying in university longer means that having children is postponed. The researcher obtains the following
People involved in the tourism industry are interested in many aspects of tourist behaviour. An aspect that may be of interest is whether there is a relationship between demand for tourists, as
A real estate agent researches the factors that influence house prices in Brisbane. She collects data on recent sales and notes the size of each house in square metres. Suppose the house prices (and
A student researcher, Michel Larner, obtained the weight, height and various other physical measurements of 22 male subjects aged 16 to 30 years. Subjects were randomly chosen volunteers, all in
Use the data file Combaro.xls to complete the following exercises. Determine whether the relationship between productivity (Prdtvty) and days absent (DysAbsnt) is linear. Develop a regression model
Before heading to the beach in the afternoon in mid-winter, hardy Sydney surfers are interested in what the temperature is likely to be given the temperature at breakfast time. Afternoon
The table shows annual time-series data for New Zealand exports taken from the World Bank’s World Development Indicators. Use these data to develop an autoregressive forecasting model with a
The banking industry claimed that 80% of its customers aged over 65 used computers at home to make regular bill payments online for such things as electricity, gas and telephone. An independent
You are interested in testing H0: p ≥ 0.63 versus Ha: p < 0.63. From a random sample of 100 people, there are 55 people with a particular characteristic of interest that you are testing. Use a
You are testing H0: p ≥ 0.25 versus Ha: p < 0.25. A random sample of 146 people gives a value of p̂ = 0.21. Using α = 0.10, test this hypothesis.
Suppose you want to determine whether the average values for populations 1 and 2 are different, and you randomly gather the following data. (a) Test your conjecture, using a probability of 0.01 of
In previous years, the average market price of warehouses in a particular city equated to $322.80 per m2 of usable floor space. An investor wants to determine whether this figure has changed. A
Across the country, families of two adults and two children currently have an average weekly shopping bill at a large supermarket chain of $255. However, you believe the weekly bill for this type of
The following data represent the recorded weights (g) of a randomly selected sample of a particular car component. The manufacturing specifications require this car component to have an average
Use the sample information provided to construct the required confidence interval for the difference between the two population means. (a) a 90% confidence interval (b) a 95% confidence
A company’s auditor believes the per diem cost in Darwin rose significantly between 2013 and 2020. To test this belief, the auditor samples 51 business trips from the company’s records for 2013;
A survey shows that the average insurance cost to a company per employee per hour is $1.84 for managers and $1.99 for professional specialty workers. Suppose these figures were obtained from 35
The website www.domain.com.au lists houses for sale in Australia. The asking prices of established houses with 4 bedrooms, 2 bathrooms and 2 car spaces for sale in August 2009 in Bundaberg (central
A report indicated the many health benefits of consuming cheese as part of a healthy diet. It also claimed that the average sodium content in cheese is 1000mg per 100 g. Thinking this figure seemed
Changes in lifestyles over the years are believed to see families now eating more takeaway food at home for dinner than previously. It is claimed the proportion of families who now eat at least one
A manufacturing company has been averaging 18.2 orders per week for several years. However, during a recession weekly orders have appeared to slow. Suppose the company’s production manager randomly
According to a recent survey, the average urban person consumes 1.5 kg of food per day. Is this figure also true for rural people? Suppose 64 rural people are identified by a random procedure and
Amanufacturing company makes steel wire. One particular steel wire is very thin and has a designed breaking load of 5 kg. The company tests a random sample of 42 lengths of wire and finds the mean
A property developer proposed to construct a new shopping centre in an environmentally sensitive area. It was believed 80% of residents in the community were opposed to the development. The developer
The average annual income for Australian childcareworkers five years agowas $38100. It is believed this average annual income has essentially remained the same since then. To test this hypothesis, a
Research has found that the average number of suspended particles of air in a particular city is currently 80 micrograms per cubic metre. Suppose city officials work with businesses, commuters and
(a) Use the data given to test the following hypotheses.H0: μ = 18; Ha: μ ≠ 18x̅ = 16.7; n = 31; σ = 4.2; α = 0.05(b) Use the p-value to reach a statistical conclusion.(c) Using the critical
From the information given, indicate if a correct decision, a Type I error or a Type II error was made.(a) H0: μ = 1.5 litres. The decision was to not reject H0 and μ is actually 1.5 litres.(b) H0:
The critical value for a specific left-tailed hypothesis test is given as −1.645. Depending on the sample selected for the hypothesis test, the calculated test statistic can vary. For each of the

Showing 600 - 700 of 3972

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Last

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Company Info

Security
Copyrights
Privacy Policy
Terms & Condition
SolutionInn Fee
Scholarship

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Copyright © 2024 SolutionInn All Rights Reserved.

Get the SolutionInn - Study Help App