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mathematics
essential statistics business
Essential Statistics In Business And Economics 3rd Edition David Doane, Lori Seward - Solutions
The average number of orders called into a Noodles & Company restaurant over the lunch period is 2.3 orders per minute.(a) What assumption is necessary to use the Poisson model to describe customer orders?(b) What is the probability that there will be exactly 3 orders called in one minute?(c)
Write the probability of each italicized event in symbols (e.g., P(X ≥ 5).a. At least 7 correct answers on a 10-question quiz (X = number of correct answers).b. Fewer than 4 “phishing” e-mails out of 20 e-mails (X = number of phishing e-mails).c. At most 2 no-shows at a party where 15 guests
The number of tickets purchased by an individual for Beckham College’s holiday music festival is a uniformly distributed random variable ranging from 2 to 8. Find the mean and standard deviation of this random variable.
On the midnight shift, the number of patients with head trauma in an emergency room has the probability distribution shown below. (a) Find P(X ? 3). (b) Find P(X ? 2). (c) Find P(X (d) Find P(X = 1). (e) Which of the probability expressions in parts (a)?(d) is a value of the CDF? 3 Total 1.00 .05
On hot, sunny, summer days, Jane rents inner tubes by the river that runs through her town. Based on her past experience, she has assigned the following probability distribution to the number of tubes she will rent on a randomly selected day. (a) Find P(X = 75). (b) Find P(X ? 75). (c) Find P(X
Fifty-six percent of American adults eat at a table-service restaurant at least once a week. Suppose that four American adults are asked if they ate at table-service restaurants last week. What is the probability that all of them say yes?
In child-custody cases, about 70 percent of the fathers win the case if they contest it. In the next three custody cases, what is the probability that all three win? What assumption(s) are you making?
There is a 30 percent chance that a bidding firm will get contract A and a 40 percent chance it will get contract B. There is a 5 percent chance that it will get both. Are the events independent?
The probability that an international flight leaving the United States is delayed in departing (event D) is .25. The probability that an international flight leaving the United States is a transpacific flight (event P) is .57. The probability that an international flight leaving the U.S. is a
The probability that a customer at a grocery store pays for their items with a credit or debit card (event C) is .78. The probability that the grocery bill for a customer is greater than $100 (event H) is .37. The probability that a customer pays with a credit or debit card given that his or her
Prior to the start of the 2016 NCAA Men’s Basketball playoffs, the reported odds that Butler University would not make it to the final game were 125 to 1. What was the implied probability that Butler would make it to the finals in 2016?
The probability that a 2011 Audi A8 will be stolen is .0048. Find the odds against the theft of a 2011 Audi A8. Round your answer to the nearest whole number.
On Los Angeles freeways during the rush hour, there is an 18 percent probability that a driver is using a handheld cell phone. Which type of probability (classical, empirical, subjective) do you think this is?
A recent article states that there is a 2 percent chance that an asteroid 100 meters or more in diameter will strike the Earth before 2100. Which type of probability (classical, empirical, subjective) do you think this is?
The reported U.S. cesarean section delivery rate is 32.7 percent. Which type of probability (classical, empirical, subjective) do you think this is?
In the first year after its release, 83 percent of emergency room doctors were estimated to have tried Dermabond glue (an alternative to sutures in some situations). Which type of probability (classical, empirical, subjective) do you think this is?
The new marketing director says we have a 75 percent chance that our online sales will increase significantly by offering free shipping. Which type of probability (classical, empirical, subjective) do you think this is?
A survey showed that 44 percent of online internet shoppers experience some kind of technical failure at checkout (e.g., when submitting a credit card) after loading their shopping cart. Which type of probability (classical, empirical, subjective) do you think this is?
A judge concludes that there is a 20 percent chance that a certain defendant will fail to appear in court if he is released after paying a full cash bail deposit. Which type of probability (classical, empirical, subjective) do you think this is?
For male high school athletes, a news article reported that the probability of receiving a college scholarship is .0139 for basketball players, .0324 for swimmers/divers, and .0489 for lacrosse players. Which type of probabilities (classical, empirical, subjective) do you think these are?
(a) In how many ways could you arrange seven books on a shelf?(b) Would it be feasible to list the possible arrangements?
Let C be the event that a randomly chosen adult has some college education. Let M be the event that a randomly chosen adult is married. Given P(C) = .4, P(M) = .5 and P(C ∩ M) = .24, find each probability.a. P(C′).b. P(C ∪ M).c. P(M ∣ C).d. P(C ∣ M).
Currently Samsung ships 21.7 percent of the organic light-emitting diode (OLED) displays in the world. Let S be the event that a randomly selected OLED display was made by Samsung. Find(a) P(S),(b) P(S′),(c) The odds in favor of event S,(d) The odds against event S.
Given P(A) = .70, P(B) = .30, and P(A ∩ B) = .00, find(a) P(A ∪ B),(b) P(A ∣ B),(c) P(B ∣ A).
An entrepreneur who plans to open a Cuban restaurant in Nashville has a 20 percent chance of success.
There is a 20 percent chance that a new stock offered in an initial public offering (IPO) will reach or exceed its target price on the first day.
(a) Make an Excel scatter plot of X = weekly closing price of Dolana stock and Y = weekly closing price of ZalParm stock over 52 consecutive weeks.(b) Describe the scatter plot.(c) Calculate the sample correlation using the Excel function =CORREL. What does it tell you?(d) Select both data columns
(a) Make an Excel scatter plot of X = percent change in U.S. real GDP and Y = percent change in U.S. personal consumption expenditures 2000–2015.(b) Describe the relationship (if any). Weak? Strong? Negative? Positive?(c) Why might a relationship exist?(d) Calculate the sample correlation using
This table shows the distribution of winning times in the Kentucky Derby (a horse race) over 87 years. (a) From the grouped data, calculate the mean. Show your calculations clearly in a worksheet. (b) What additional information would you have gained by having the raw data? (c) Do you think it
The median waiting time for a liver transplant in the United States is 321 days. Would you expect the mean to be higher or lower than 321 days? Explain.
A sample of size n = 200 showed a skewness coefficient of –0.35 and a kurtosis coefficient of +0.75. What is the distribution’s shape?
A sample of size n = 100 showed a skewness coefficient of –0.35 and a kurtosis coefficient of +0.75. What is the distribution’s shape?
At Chipotle Mexican Grill, the number of calories in an order of chips and salsa is normally distributed with a mean of 620 and a standard deviation of 12. Bob’s order had only 580 calories. Was this an outlier? Explain.
During a rock concert, the noise level (in decibels) in front row seats has a mean of 95 dB with a standard deviation of 8 dB. Without assuming a normal distribution, find the minimum percentage of noise level readings within 3 standard deviations of the mean.
If the mean asset turnover for retail firms is 2.02 with a standard deviation of 0.22, without assuming a normal distribution, within what range will at least 75 percent of retail firms’ asset turnover fall?
Closing prices of two stocks are recorded for 50 trading days. The sample standard deviation of stock X is 4.638, and the sample standard deviation of stock Y is 9.084. The sample covariance is −36.111.(a) Calculate the sample correlation coefficient.(b) Describe the relationship between prices
The asset turnover ratio (ATR) is the ratio of a company?s revenues to the value of its assets (indicating its efficiency in deploying its assets). We should not use the standard deviation to compare ATR variation among industrial sectors because firms with large asset bases (e.g., utilities,
(a) Use Excel to prepare a Pareto chart of the following data. (b) In your own words, what does this chart say? Cell Phone Service Provider n = 158 CellPhone Service Provider Cumulative Percent Percent Verizon 37.3 37.3 67.1 AT &T 29.7 T-Mobile 80.4 13.3 Sprint 8.9 89.2 Other 4.4 93.7 Nextel 3.2
Download the full data set from the McGraw-Hill Connect? website (only six data values are shown). (a) Use Excel to make a scatter plot, placing Dolona on the X-axis and ZalParm on the Y-axis. Add titles and modify the default colors, fonts, etc., as you judge appropriate to make the scatter plot
(a) Use Excel to prepare a 2-D pie chart for the following data. Modify the default colors, fonts, etc., as you judge appropriate to make the display effective.(b) Right-click the chart area, select Chart Type, and change to a 3-D pie chart.(c) Right-click the chart area, select Chart Type, and
The table shows the number of TVs sold by a major retailer in California for three years. (a) Use Excel to prepare a 2-D side-byside column chart with screen size on the horizontal axis. (b) Change your graph to a 3-D side-by-side column chart. Is 3-D better than 2-D? Explain. (c) Change the chart
Below are 64 names of employees at NilCo. Colors denote different departments (finance, marketing, purchasing, engineering). Sample eight names from the display shown by using (a) simple random sampling, (b) systematic sampling, (c) cluster sampling. Try to ensure that every name has an equal
Insurance companies are rated by several rating agencies. The Fitch 20-point scale is AAA, AA+, AA, AA−, A+, A, A−, BBB+, BBB, BBB−, BB+, BB, BB−, B+, B, B−, CCC+, CCC, CCC−, DD.(a) What level of measurement does this scale use?(b) To assume that the scale uses interval measurements,
What level of measurement (nominal, ordinal, interval, ratio) is appropriate for the movie rating system that you see in TV Guide (⋆,⋆⋆,⋆⋆⋆,⋆⋆⋆⋆)? Explain your reasoning.
A marketing research group wanted to collect information from existing and potential customers on the appeal of a new product. They sent out surveys to a random sample of 1,200 people from their database of over 25,000 current and potential customers. Would you consider this population to be
The U.S. Fisheries and Wildlife Service requires that scallops harvested from the ocean must weigh at least 1/36 pound. The harbormaster at a Massachusetts port randomly selected 18 bags of scallops from 11,000 bags on an arriving vessel. The average scallop weight from the 18 bags was 1/39
A university wanted to survey alumni about their interest in lifelong learning classes. They mailed questionnaires to a random sample of 600 alumni from their database of over 30,000 recent graduates. Would you consider this population to be effectively infinite?
Prior to starting a recycling program, a city decides to measure the quantity of garbage produced by single-family homes in various neighborhoods. This experiment will require weighing garbage on the day it is set out.(a) What sampling method would you recommend, and why?(b) What would be a
Examine each of the following statistics. Which sampling method was most likely to have been used (simple random, systematic, stratified, cluster)?a. A survey showed that 30 percent of U.S. businesses have fired an employee for inappropriate web surfing, such as gambling, watching porn, or
The General Accounting Office conducted random testing of retail gasoline pumps in Michigan, Missouri, Oregon, and Tennessee. The study concluded that 49 percent of gasoline pumps nationwide are mislabeled by more than one-half of an octane point. What kind of sampling technique was most likely to
The IRS estimates that the average taxpayer spent 3.7 hours preparing Form 1040 to file a tax return. Could a census be used to update this estimate for the most recent tax year? Why or why not?
There are 327 official ports of entry in the United States. The Department of Homeland Security selects 15 ports of entry at random to be audited for compliance with screening procedures of incoming travelers through the primary and secondary vehicle and pedestrian lanes. What kind of sample is
Recently, researchers estimated that 76.8 percent of global e-mail traffic was spam. Could a census be used to update this estimate? Why or why not?
Identify the following data as either time series or cross-sectional.a. The number of rooms booked each night for the month of January 2017 at a Vail Resorts hotel.b. The amount spent on books at the start of this semester by each student in your statistics class.c. The number of Caesar salads sold
Identify the following data as either time series or cross-sectional.a. The 2017 CEO compensation of the 500 largest U.S. companies.b. The annual compensation for the CEO of Coca-Cola Enterprises from 2010 to 2017.c. The weekly revenue for a Noodles & Company restaurant for the 52 weeks in
What would be the difference in student responses to the two questions shown?Version 1: I would prefer that tuition be reduced.Version 2: Cuts in tuition are a good idea even if some classes are canceled.
In the previous population, what was the proportion of all 48 moviegoers who were under age 30?
Suppose you want to study the number of e-mail accounts owned by students in your statistics class. What kind of sample is it if you(a) Survey each student who has a student ID number ending in an odd number,(b) Survey all the students sitting in the front row,(c) Survey every fifth student who
Suppose you want to know the ages of moviegoers who attend the latest X-Men movie. What kind of sample is it if you(a) Survey the first 20 persons to emerge from the theater,(b) Survey every 10th person to emerge from the theater,(c) Survey everyone who looks under age 12?
Ergonomics is the science of making sure that human surroundings are adapted to human needs. How could statistics play a role in the following:a. Choosing the height of an office chair so that 95 percent of the employees (male and female) will feel it is the “right height” for their legs to
Here is a question from a ski resort guest satisfaction survey that uses a five-point scale. (a) Would the measurement level for the data collected from this question be nominal, ordinal, interval, or ratio? (b) Would it be appropriate to calculate an average rating for the various items?
What type of data (categorical, discrete numerical, or continuous numerical) is each of the following variables? If there is any ambiguity about the data type, explain why the answer is unclear.a. The manufacturer of your car.b. Your college major.c. The number of college credits you are taking.
The Graduate Management Admission Test (GMAT) is used by many graduate schools of business as one of their admission criteria. Using your own reasoning and concepts in this chapter, criticize each of the following conclusions.a. “Last year, 7,573 computer science majors took the GMAT, compared
Under a recent U.S. Food and Drug Administration (FDA) standard for food contaminants, 3.5 ounces of tomato sauce can have up to 30 fly eggs, and 11 ounces of wheat flour can contain 450 insect fragments. How could statistical sampling be used to see that these standards of food hygiene are being
A recent study of 231,164 New Jersey heart attack patients showed that those admitted on a weekday had a 12.0 percent death rate in the next three years, compared with 12.9 percent for those admitted on a weekend. This difference was statistically significant. “That’s too small to have any
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