Statistics For Management And Economics 11th Edition Gerald Keller - Solutions

Refer to Exercise 16.49. The temperature is 80 degrees. Predict with 95% confidence how far the golfer’s next drive will travel.
Refer to Exercise 16.47. Estimate with 90% confidence the mean number of days watching the national news on television for the population of 70-year-olds.In exercise 16.47National news on television features commercials describing pharmaceutical drugs that treat ailments that plague older people.
Refer to Exercise 16.48. Predict with 90% confidence how definite is the intention to vote for one 50-year-old.In exercise 16.48In most presidential elections in the United States, the voter turnout is quite low, often in the neighborhood of 50%. Political workers would like to be able to predict
Refer to Exercise 17.14.a. Predict with 95% confidence the MBA program GPA of a BEng whose undergraduate GPA was 9.0, whose GMAT score as 700, and who has had 10 years of work experience.b. Repeat part (a) for a BA student.In exercise 17.14The MBA program at a large university is facing a pleasant
In a study of computer applications, a survey asked which microcomputer a number of companies used.The following indicator variables were created.Which computer is being referred to by each of the following pairs of values?a. I1 = 0; I2 = 1b. I1 = 1; I2 = 0c. I1 = 0; I2 = 0 S1 (if IBM) l0 (if not)
Create and identify indicator variables to represent the following nominal variables.a. Religious affiliation (Catholic, Protestant, and others)b. Working shift (8 a.m. to 4 p.m., 4 p.m. to 12 midnight, and 12 midnight to 8 a.m.)c. Supervisor (Jack Jones, Mary Brown, George Fosse, and Elaine Smith)
How many indicator variables must be created to represent a nominal independent variable that has five categories?
The production manager of a chemical plant wants to determine the roles that temperature and pressure play in the yield of a particular chemical produced at the plant. From past experience, she believes that when pressure is held constant, lower and higher temperatures tend to reduce the yield.
The coach and the general manager of a team in the National Hockey League are trying to decide what kinds of players to draft. To help in making their decision, they need to know which variables are most closely related to the goals differential—the difference between the number of goals their
The manager of a large hotel on the Riviera in southern France wanted to forecast the monthly vacancy rate (as a percentage) during the peak season. After considering a long list of potential variables, she identified two variables that she believed were most closely related to the vacancy rate:
Should government improve standard of living of poor people? (1 = Government act; 2, 3, 4, 5 = People should help themselves.)The question of what should governments do and not do. For each question determine whether there is enough evidence to infer that individuals on the liberal end of the
There is no single definition of the middle class in the United States. For the purposes of analyzing the data from the Survey of Consumer Finances we have defined middle class on the basis of net worth. However, many economists define middle class on the basis of income. Analyze middleclass income
Each year the Internal Revenue Service of the United States issues a migration report that shows how many tax filers moved from one state to another. In an effort to answer the question of why so many people are moving from states that usually vote for Democrats (so-called blue states) to states
Does income affect the way Americans choose which party to support? Conduct a statistical procedure to determine whether there are differences in income (RINCOME) between some or all of the eight political groups.
The survey asked the question, “Should government reduce income differences between rich and poor (EQWLTH: 1 = Government should reduce differences; 2, 3, 4, 5, 6, 7 = No government action)? Is there enough evidence to infer that there are differences among some or all of the eight political
Is there enough statistical evidence to conclude that the eight political categories differ in their responses to this question, “Should government improve standard of living of poor people (HELPPOOR: 1 = Government act; 2, 3, 4, 5 = People should help themselves)?
The question that the survey asked is, “Should government do more or less to solve country’s problems (HELP NOT: 1 = Government should do more; 2, 3, 4, 5 = Government does too much)? Can we infer from the data that there are differences among some or all of the eight political categories in
With government-funded health insurance in the air the next question may be particularly relevant. Is it government’s responsibility to help pay for doctor and hospital bills HELPSICK: 1 = Government should help; 2, 3, 4, 5 = People should help themselves)? Is there enough evidence to conclude
What happens to Americans’ political philosophies as they grow richer? If they change we would expect differences in income (RINCOME) between the seven groups. Is there enough evidence to conclude that such differences exist?
Is it government’s responsibility to help pay for doctor and hospital bills (HELPSICK: 1 = Government should help; 2, 3, 4, 5 = People should help themselves)?The four classes (CLASS: 1 = Lower class, 2 = Working class, 3 = Middle class, 4 = Upper class) with respect to the role of government.
How does age and education affect income among middle-class households? To answer the question, conduct a regression analysis of the dependent variable INCOME using the independent variables AGE and years of education (EDUC).a. Estimate the regression coefficients.b. Test the model’s validity.c.
Summarize what you have discovered about the relationship between political philosophy and preference for government action in Exercises 16.146–16.149. In particular, discuss the coefficients of determination.
To help make a decision about how to advertise for a particular product, a marketing manager hypothesized that the average American had completed high school (To complete high school, one needs to complete grade 12).a. Conduct an appropriate test on years of education (EDUC).b. Is the required
The survey asked respondents to report the number of persons in the household who are related to the respondent and who earned any money from any job or employment (EARNRS).a. Estimate the mean number of earners per household in the United States.b. What is the required condition for your answer to
Last year 24 million Canadians made donations to charitable or nonprofit organizations. A random sample of donors was drawn and the amount of each respondent’s donation was recorded. Estimate with 95% confidence the total donated by all Canadian donors.
In the United States as well as most other countries, the income tax is progressive in that richer people pay not only more in absolute terms but more in percentage as well. Other taxes are regressive. One such tax is the tax on beer, wine, and liquor. To examine this issue, the National Center for
It is a long-running joke that Britons have bad and missing teeth. However, Americans’ dental problems may be worse. In a study reported in the British Medical Journal a random sample of Americans was drawn and the number of missing teeth was recorded. Estimate with 95% confidence the mean number
In the next 10 years, there will be the largest intergenerational wealth transfer in Canadian history, and the amount will likely grow over the next decade. There are 2.5 million Canadians 75 and older and when they pass on their sons, daughters, and grandchildren will inherit. To determine the
A tax preparation company compiled the taxable income of a random sample of waiters and waitresses. The taxable income was based on their pay stubs from the restaurant where each worked. a. Estimate with 95% confidence the mean taxable income of waiters and waitresses. b. If we assume
In another study on student loan indebtedness, a random sample of graduates 20–30 years old were asked the amount they paid monthly on their loans. Estimate with 99% confidence the mean monthly payment.
Approximately 70% of students graduating from a 4-year program have student loan debt. To examine the problem, a random sample of graduates of 4-year colleges was taken and the amount of indebtedness was recorded. There are 43.3 million Americans with student loans. Estimate with 95% confidence the
A survey of 25- to 35-year-old Americans with professional or Ph.D. degrees was asked to report their monthly incomes. Can we conclude at the 10% significance level that the mean income exceeds $7,500 assuming that the incomes are normally distributed with a standard deviation of $1,200?
Many Americans contributed to their 401k investment accounts. An economist wanted to determine how well these investments performed. A random sample of Americans with 401k investments were surveyed and asked to report the total amount invested. Can we infer at the 5% significance level that the
A survey of American consumers asked respondents to report the amount of money they spend on bakery products in a typical month. If we assume that the population standard deviation is $5, can we conclude at the 10% significance level that the mean monthly expenditures on bakery products for all
An economist surveyed homeowners in a large city to determine the percentage increase in their heating bills over the last 5 years. The economist particularly wanted to know if there was enough evidence to infer that heating cost increases were greater than the rate of inflation, which was 10%.
Refer to Exercise 8.85. In order to improve the time spent by trucks waiting, both countries should improve the service rate by customs agents. Suppose that the governments decided that the probability that a truck spends more than 30 minutes being checked should be less than 1%. Find the service
Refer to Exercise 7.70. Find the quartiles of the time to complete the research project.In exercise 7.70The demand for a daily newspaper at a newsstand at a busy intersection is known to be normally distributed with a mean of 150 and a standard deviation of 25. How many newspapers should the
Refer to Exercise 7.69. Find the probability of the following events.a. The launch of the new product takes more than 105 days.b. The launch of the new product takes more than 92 days.c. The launch of the new product takes between 95 and 112 days.
In a survey of consumer finances, it was determined that the average household debt is $250,000. If household debt is normally distributed with a standard deviation of $30,000 determine the quintiles.
The daily withdrawals from an ATM located at a service station is normally distributed with a mean of $50,000 and a standard deviation of $8,000. The operator of the ATM puts $64,000 in cash at the beginning of the day. What is the probability that the ATM will run out of money?
A golfer playing a new course encounters a hole that requires a drive of 145 yards to successfully clear a pond. She knows that her drives are normally distributed with a mean of 155 yards and a standard deviation of 9 yards. What is the probability that after her drive her golf ball will be at the
The mean monthly income of graduates of professional and Ph.D. degrees is $6,000 according to a recent PEW Research Center survey. If these incomes are normally distributed with a standard deviation of $1,200,a. What proportion of incomes is greater than $4,900?b. Calculate the proportion of
Refer to Exercise 8.54. Find the amount of sleep that is exceeded by only 25% of students.In exercise 8.54University and college students average 7.2 hours of sleep per night, with a standard deviation of 40 minutes. If the amount of sleep is normally distributed, what proportion of university and
The Tesla Model S 85D is an electric car that the manufacturer claims can travel 270 miles on a single charge. However, the actual distance depends on a number of factors including speed and whether the car is driven in the city or on highways. Suppose that the distance is a normally distributed
Here is another function.f(x) = .2x 0 < x < 2 = .4 2 < x < 3.5a. Determine the probability that X is less than 2.b. Find the probability that X is less than 3.c. What is the probability that X lies between 1 and 2.5?
Refer to Exercise 7.63.a. Determine the probability distribution of the total scores for both teams.b. Calculate the mean, variance, and standard deviation of the total scores for both teams.c. Calculate the covariance and coefficient of correlation of the two variables.In exercise 7.63After
Refer to Exercise 7.45. Compute the covariance and the coefficient of correlation.In exercise 7.45The following table lists the bivariate distribution of X and Y . х 2 .5 .1 .1 .3 2.
The following table lists the bivariate distribution of X and Y .a. Find the marginal probability distribution of X.b. Find the marginal probability distribution of Y.c. Compute the mean and variance of X.d. Compute the mean and variance of Y. х 2 .5 .1 .1 .3 2.
At a private golf course known for its excellent golfers a statistician quizzed the members to determine how many holes in one each made in their lifetime. From his work the following probability distribution of the number of career holes in one.One member was selected at random. Find the following
Refer to Exercise 7.42. Compute the mean, variance, and standard deviation of the population.In exercise 7.42An expensive restaurant conducted an analysis of the number of people at tables from which the probability distribution was developed. x 1 2 3 .05 P(x) .03 32 4 5 6 7 8 .28 .04 .15 .03 .10
An expensive restaurant conducted an analysis of the number of people at tables from which the probability distribution was developed.If one table is selected at random determine the probability of the following events.a. Table has more than 4 peopleb. Table has fewer than 5 peoplec. Table has
Determine whether each of the following is a valid probability distribution.a.b.c. 2 3 .1 .4 х .1 .3 P(x) 5 -6 0 P(x) .01 .01 .01 .97
Pew Research Center conducted a survey of countries around the world and asked respondents whether they were having a typical day, a good day, or a bad day. The results and the number of respondents in Europe, Asia, and the United States are listed next.One respondent is selected at random.a. Find
Refer to Exercise 6.86. The professor meets a student who has just graduated in less than five year. Determine the probability that he graduated with B.B.A. degree. In exercise 6.86A statistics professor was in the process of comparing the pass rates (the percentage of entering students who
Refer to Exercise 6.85. An American under 40 tells you that he has student debt. What is the probability that he is managerial or professional? In exercise 6.85How many Americans under the age of 40 have student debts? A Pew Research Center attempted to answer the question by asking whether
Refer to Exercise 8.52. Find the probability of these events.a. A 2-year-old child is taller than 36 inches.b. A 2-year-old child is shorter than 34 inches.c. A 2-year-old child is between 30 and 33 inches tall.
Refer to Exercise 6.84.In exercise 6.84Refer to Exercise 6.83. Respondents in Greece, Hungary, and Poland were asked whether they approved or disapproved of the way the EU was dealing with the refugee issue. The number of respondents and the percentage opting for disapprove are listed here.What is
Refer to Exercise 6.83.In exercise 6.83In June 2016, Britons were heading to the polls to vote in a referendum to decide whether the United Kingdom would leave the European Union. Pew Research Center conducted surveys in European countries to determine opinions about the possible
Refer to Exercise 6.76.In exercise 6.76Researchers at the University of Pennsylvania School Of Medicine have determined that children under 2 years old who sleep with the lights on have a 36% chance of becoming myopic before they are 16 Children who sleep in darkness have a 21% of becoming myopic.
Refer to Exercise 6.60.In exercise 6.60Determine all joint probabilities from the following.P(A) = .8P(Ac) = .2P(B\A) = .4P(B\Ac) = .7Find the following.a. P(A | B)b. P(AC | B)c. P(A | BC )d. P(AC | BC )
Refer to Exercise 6.59.In exercise 6.59Given the following probabilities, compute all joint probabilities.P(A) = .9P(Ac) = .1P(B/A) = .4P(B/Ac)Determine P(A / B).
A statistics professor was in the process of comparing the pass rates (the percentage of entering students who graduate in 5 years or less) for B.A.€™s, B.B.A.€™s, B.Sc.€™s, and B.Eng.€™s. Delving into the record he finds the following probabilities.What is
How many Americans under the age of 40 have student debts? A Pew Research Center attempted to answer the question by asking whether respondents had student debt and in what was their occupation. The following probabilities were determined.Calculate the probability that a randomly selected
After tabulating the results for NBC news the table of joint probabilities was created.a. Find the probability that one respondent selected at random would trust NBC News.b. What is the probability that a consistent Conservative would distrust NBC News?c. What is the probability that a consistent
Economists frequently make use of quintiles (i.e., the 20th, 40th, 60th, and 80th percentiles) particularly when discussing incomes. Suppose that in a large city household incomes are normally distributed with a mean of $50,000 and a standard deviation of $10,000. An economist wishes to identify
Exercise 4.67 addressed the problem of setting an appropriate speed limit on highways. Automotive experts believe that the “correct” speed is the 85th percentile. Suppose that the speeds on a highway are normally distributed with a mean of 68 and a standard deviation of 5. Find the
According to a PEW Research Center survey, the mean student loan at graduation is $25,000. Suppose that student loans are normally distributed with a standard deviation of $5,000. A graduate with a student loan is selected at random. Find the following probabilities.a. The loan is greater than
SAT scores are normally distributed with a mean of 1,000 and a standard deviation of 300. Find the quartiles.
Find the probabilities.1. P(Z < 1.60)2. P(Z < 1.61)3. P(Z < 1.65)4. P(Z < −1.39)5. P(Z < −1.80)6. P(Z < −2.16)7. P(−1.30 < Z < .70)8. P(Z > −1.24)9. P(Z < 2.23)10. P(Z > 1.87)11. P(Z < 2.57)12. P(1.04 < Z < 2.03)13. P1−0.71 < Z <
The following density function describes the random variable X.f(x) = .40 − .10x 0 < x < 4 = .10x − .40 4 < x < 6a. What is the probability that X is less than 2?b. Find the probability that X is greater than 5.c. Find the probability that X lies between 2.5 and 5.5.
The following density function describes the random variable X.F(x) = .10 0 < x < 2 = .20 2 < x < 5 = .15 5 < x < 6 = .05 6 < x < 7a. Calculate the probability that X is less than 5.5.b. Calculate the probability that X is greater than 3.5.c. What is the
Here is another density function.F(x) = .40 0 < x < 1 = .05 1 < x < 13a. Determine the probability that X is less than 8.b. What is the probability that X lies between .4 and 10?
A random variable is uniformly distributed between 100 and 150.a. Draw the density function.b. Find P(X > 110).c. Find P(120 < X < 135).d. Find P(X < 122).
Hikers and other outdoor enthusiasts have a new concern, the Zika virus. Physicians are recommending that people use a mosquito repellant while in areas where mosquitoes are present. A statistician estimated that 80% of hikers would be spraying themselves with mosquito repellant. Suppose that a
Americans are getting married (if at all) at a higher age than in the past. A marketing manager for a baby food maker wanted an estimate of how old are Americans when they have their first child (AGEKDBRN). Estimate the mean and describe whether the required condition is satisfied.
When the economy is healthy many firms ask their employees to put in overtime, which usually means working more than 40 hours per week. Is the average working American working for more than 40 hours per week (HRS1)?a. Conduct a test to answer the question.b. What is the required condition for the
How well were American families doing in 2014? One very good guide is total family income (INCOME). Estimate the income for the average American family.
A large number of American families are invested in the stock market. Many have various pension plans that use contributed funds to buy stocks. Many others have directly held shares in the stock market.a. Estimate the mean total value of stocks held directly by the household (STOCKS).b. What is the
In 2013, the housing market started picking up. Were people getting themselves too much into debt and hoping that the price of their homes would increase? One way to judge is to determine the size of mortgages (NH_MORT). Estimate the amount owed on mortgages in middle-class households.
In the United States, there is no capital gains on houses until the last one is sold. Up to that point any gains are considered unrealized capital gains or losses on primary residence. Estimate the capital gains on the primary residence for middle class households (KGHOUSE).
According to the United Census the average expenditure for food away from home was $2625. Is there enough evidence to infer that the average middle-class households spends less (FOODAWAY)?
The interest rates charged by credit card companies is so high that consumers are advised to pay off their credit card debt as quickly as possible. To see if people are following this advice, estimate the credit card balance held by middle-class households (CCBAL).
Suppose that you used the sample size calculated in Exercise 12.86 and found p^ = .5.a. Estimate the population proportion with 90% confidence.b. Is this the result you expected? Explain.
Refer to Exercise 12.105. If the number of professors between the ages of 55 and 64 is 75,000, estimate the total number of such professors who plan to retire early.
The proportion of Americans living in homes that they owned in 2010 was 65.8%. Is there sufficient evidence to infer that that figure increased by 2013? (HOUSECL: 1 = Owns)
In the 2010 census, 16.8% of American adults entered college but did not finish. Using the data from the Survey of Consumer Finances of 2013 test, determine whether that figure increased (EDCL: 3 = Some college).
The proportion of women who did not finish high school was 12.4% according to the census in 2010. Is there enough statistical evidence to conclude that the proportion has decreased in 2013 (HHSEX: 2 = Female; EDCL: 1 = No high school diploma)?
The 2010 census showed that the percentage of Black Americans who did not finish high school was 15.8%. Did this figure decrease by 2013? Conduct a test to determine whether there is enough evidence to infer that the proportion of Black Americans who did not finish high school had decreased (RACE:
The 2010 Census showed that the percentage of American adults who had an advanced degree (Read: graduate) was 10.5%. Is there sufficient evidence to infer that by 2013 that figure had been increased (EDUC: 17 = Graduate school)?
Among Democratic and Republicans only is there enough evidence to infer that there are more Democrats than Republicans (PARTYID3: 1 = Democrat, 3 = Republican)? (Caution: Tricky question)
Among Liberals and Conservatives only is there enough evidence to infer that there are more Conservatives than Liberals (POLVIEWS3: 1 = Liberal, 3 = Conservative)?
Is there a contradiction between the results in Exercises 12.175 and 12.176? Explain.
The birth rate in many countries is falling. This will create problems in the future because there will be less people contributing taxes and more retired people receiving government pensions. The birth rate needed to maintain current population levels is 2.08 children per woman. The General Social
If there was gender equality in the head of household designation the number of households with males head of households would equal the number of households with females as heads of households. Conduct a test to determine that there is no gender equality (HHSEX: 1 = Male, 2 = female).
SCF2013:\All* How many American adults (18 and over) are working in some way? Estimate the number (LF: 1 = Working in some way).
Government debt and personal debt are a growing concern. Estimate the number of households that have debts (HDEBT: 1 = Yes).
Another sign of financial problems is when a household is late with at least one payment. Estimate with 90% confidence the number of households that had a least one late payment in the preceding 12 months (LATE: 1 = Yes).
Another sign of financial difficulties is when a household finds that overall expenses are unusually high. Estimate with 99% confidence the number of households whose expenses are unusually high (EXPENSHILO: 1 = Unusually high). Exercises 12.184–12.190 deal with the wealthy category defined in
Is a graduate degree a pathway to a wealthy household? Estimate the proportion of wealthy households whose heads have graduate degrees (EDUC: 17 = Graduate school).
How long does it take to become wealthy? One way to answer the question is to examine the age of the head of an average wealthy household.a. Conduct a test to determine whether there is enough evidence to conclude that the mean age is greater than 60 (AGE).b. What is the required condition for the

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Statistics For Management And Economics 11th Edition Gerald Keller - Solutions

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