DATAfiles: tomlinsonprices.xlsx and tomlinsonunits2.xlsx Tomlinson's Lumens, Inc. (TLI) is a large manufacturer of lighting fixtures and...

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DATAfiles: tomlinsonprices.xlsx and tomlinsonunits2.xlsx Tomlinson's Lumens, Inc. (TLI) is a large manufacturer of lighting fixtures and parts. TLA's Accounting department receives files tomlinsonprices.xlsx and tomlinsonunits2.xlsx that summarize the price and units sold, respectively, for each product it produces on a quarterly basis. Use this information to calculate the company's most recent quarterly total sales for TLI's Accounting department. What are the quarterly total sales (in $) for the first five products in tomlinsonunits2.xlsx? Product Code Total Sales L590AX8 $ Q760CE5 $ Z155L04 $ Y2170S5 $ Z143KH3 $ What is the quarterly total sales (in $) across all products? $ Need Help? Read It DATAfiles: primoappts4.xlsx and primolenses4.xlsx A local PrimoVision Eyewear store maintains a file named primoappts4.xlsx that contains the customer ID number and date of most recent appointment for each of its customers. The store also maintains a file named primolenses4.xlsx that contains the customer ID number and type of corrective lenses each customer currently uses. The types of corrective lenses includes: monofocal lenses bifocal lenses trifocal lenses progressive lenses disposable contact lenses daily wear contact lenses extended wear contact lenses bifocal contact lenses rigid gas permeable contact lenses toric contact lenses The office manager of the PrimoVision Eyewear store needs a file that contains the fields customer ID number, date of most recent visit for each of its customers, and type of corrective lenses the customer currently uses. The manager is also concerned that information on the most recent visit or type of corrective lenses the customer currently uses are missing for some records, and they suspect that these data also include some duplicate records. (a) Append the appropriate value for the field Lens Type in the file primolenses4.xlsx to each record in the file primoappts4.xlsx. Save your results as a file under the name primodata.xlsx. What are the lens types for the first five customers in primodata.xlsx? (a) Append the appropriate value for the field Lens Type in the file primolenses4.xlsx to each record in the file primoappts4.xlsx. Save your results as a file under the name primodata.xlsx. What are the lens types for the first five customers in primodata.xlsx? Customer Number Lens Type 822567 trifocal lenses 770614 trifocal lenses 84155 extended wear contact lenses 741715 rigid gas permeable contact lenses 418547 extended wear contact lenses (b) Search the file primodata.xlsx that you created in part (a) for missing values for the Lens Type field. Provide a list of the ID numbers of the customers for whom the value of the field Lens Type is missing. (Enter your answers as a comma-separated list. If an answer does not exist, enter DNE.) (c) Search the file primodata.xlsx that you created in part (a) for duplicate records. Provide a list of the customer ID numbers for the duplicate records you find. (Enter your answers as a comma-separated list. If an answer does not exist, enter DNE.) A realtor who flips houses (purchases and remodels them with the goal of reselling them for profit) has collected data on a variety of house characteristics and selling prices for a sample of 1,193 recent house sales in Iowa. For each house sold, the following data are provided in the file iowahouses1.xlsx. LotArea = Lot size in square feet CentralAir = 1 has central air-conditioning, 0 does not have central air-conditioning GrLivArea = Above grade (ground) living area in square feet FullBath = Full bathrooms above ground HalfBath = Half bathrooms above ground BedroomAbvGr = Bedrooms above ground GarageCars = Size of the garage in car capacity Age = Age of the house when sold (in years) SalePrice = Selling price of the house (in dollars) The realtor would like to add a field called PricePerSQFT that contains the sales price per square foot (the value of the field SalePrice divided by the value of the field GrLivArea for each record) and a field called Old OrNew that has a value of Old if the age of the home is at least 20 years and has a value of New otherwise for each record. Create a new field named PricePerSQFT in the file iowahouses1.xlsx. Define the value of this field for each record to equal the record's SalePrice divided by the record's GrLivArea. Add a new field named OldOrNew to your results. Define the value of this field for each record to equal Old if the age of the home is at least 20 years, and New otherwise. Save your results as a file under the name iowahousesrevised.xlsx. What are the values of the PricePerSQFT (in $) and OldOrNew fields for the first five records? (Round your answers to two decimal places.) C H J K 1 GrLivArea Age SalePrice PricePerSQFT OldOrNew 2 1,694 3 307,000 $ New 3 2,090 36 200,000 $ Old 45 1,077 69 118,000 $ Old 1,040 43 129,500 $ Old 6 912 46 144,000 Old What is the average sales price per square foot (in $) of the entire data set? (Round your answer to two decimal places.) $ For the entire data set, how many houses are classified as New and how many are classified as Old? houses classified as New and There are Need Help? Read It houses classified as Old. Suppose that for a recent admissions class, an Ivy League college received 2,856 applications for early admission. Of this group, it admitted 1,036 students early, rejected 853 outright, and deferred 967 to the regular admission pool for further consideration. In the past, this school has admitted 18% of the deferred early admission applicants during the regular admission process. Counting the students admitted early and the students admitted during the regular admission process, the total class size was 2,378. Let E, R, and D represent the events that a student who applies for early admission is admitted early, rejected outright, or deferred to the regular admissions pool. (a) Use the data to estimate P(E), P(R), and P(D). (Round your answers to four decimal places.) P(E) P(R) = P(D) = (b) Are events E and D mutually exclusive? They ---Select-- mutually exclusive. Find P(END). P(END) = (c) For the 2,378 students who were admitted, what is the probability that a randomly selected student was accepted during early admission? (Round your answer to four decimal places.) (d) Suppose a student applies for early admission. What is the probability that the student will be admitted for early admission or be deferred and later admitted during the regular admission process? (Round your answer to four decimal places.) Students taking a test were asked about their undergraduate major and intent to pursue their MBA as a full-time or part-time student. A summary of their responses is as follows. Business Undergraduate Major Engineering Other Totals Intended Enrollment Status Full-Time 351 196 252 799 Part-Time 151 162 193 506 Totals 502 358 445 1,305 (a) Develop a joint probability table for these data. (Round your answers to three decimal places.) Undergraduate Major Business Intended Enrollment Status Full-Time Part-Time Totals Engineering Enter a number. Other Totals 1.000 (b) Use the marginal probabilities of undergraduate major (business, engineering, or other) to comment on which undergraduate major produces the most potential MBA students. From the marginal probabilities, we can tell that ---Select--- majors produce the most potential MBA students. (c) If a student intends to attend classes full-time in pursuit of an MBA degree, what is the probability that the student was an undergraduate engineering major? (Round your answer to three decimal places.) (d) If a student was an undergraduate business major, what is the probability that the student intends to attend classes full-time in pursuit of an MBA degree? (Round your answer to three decimal places.) (e) Let F denote the event that the student intends to attend classes full-time in pursuit of an MBA degree, and let B denote the event that the student was an undergraduate business major. Are events F and B independent? Justify your answer. (Round your answers to three decimal places.) P(F) = and P(F B) = Need Help? Read It Watch It Master It so the events ---Select-- independent. An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil) = 0.40 P(medium-quality oil) = 0.10 P(no oil) = 0.50 (a) What is the probability of finding oil? (b) After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular type of soil identified by the test follow. P(soil | high-quality oil) = 0.30 P(soil | medium-quality oil) = 0.70 P(soil | no oil) = 0.10 How should the firm interpret the soil test? Calculate the revised probabilities by completing the table below. (Round your answers to two decimal places. Let S denote the event that the particular type of soil is found.) Events P(A;) P(S|A;) High Quality (A1) 0.40 0.30 Medium Quality (A2) 0.10 0.70 No Oil (A3) 0.50 0.10 Total 1.00 P(S) = P(A; NS) P(A|S) 1.00 What is the new probability for finding oil after finding this particular type of soil? (Round your answer to two decimal places.) P(oil | S) = Internal auditors are often used to review an organization's financial statements such as balance sheets, income statements, and cash flow statements prior to public filings. Auditors seek to verify that the financial statements accurately represent the financial position of the organization and that the statements follow accepted accounting principles. Many errors that are discovered by auditors are minor errors that are easily corrected. However, some errors are serious and require substantial time to rectify. Suppose that the financial statements of 567 public companies are audited. The file internalaudit2.xlsx contains the number of errors discovered during the internal audit of each of these 567 public companies that were classified as "serious errors." Use the data in the file internalaudit2.xlsx to answer the following. (a) Construct an empirical discrete probability distribution for the number of serious errors discovered during the internal audits of these 567 public companies. (Round your answers to five decimal places.) Number of Serious Errors Probability f(x) 0 1 2 3 4 5 6 (b) What is the probability that a company has no serious errors in its financial statements? (Round your answer to five decimal places.) (c) What is the probability that a company has four or more serious errors in its financial statements? (Round your answer to five decimal places.) (d) What is the expected number of serious errors in a company's financial statements? (Round your answer to four decimal places.) (e) What is the variance of the number of serious errors in a company's financial statements? (Round your answer to four decimal places.) (f) What is the standard deviation of the number of serious errors in a company's financial statements? (Round your answer to four decimal places.) (b) Compute P(x < 15). (c) Compute P(13 x 16). (d) Compute E(x). (e) Compute Var(x). (Round your answer to two decimal places.) The Siler Construction Company is about to bid on a new industrial construction project. To formulate their bid, the company needs to estimate the time required for the project. Based on past experience, management expects that the project will require at least 24 months, and could take as long as 44 months if there are complications. The most likely scenario is that the project will require 38 months. Assume that the actual time for the project can be approximated using a triangular probability distribution. (a) What is the probability that the project will take less than 38 months? (b) What is the probability that the project will take between 36 and 40 months? (Round your answer to four decimal places.) A person must score in the upper 2% of the population on an admissions test to qualify for membership in society catering to highly intelligent individuals. If test scores are normally distributed with a mean of 100 and a standard deviation of 15, what is the minimum score a person must have to qualify for the society? (Round your answer to the nearest integer.) You may need to use the appropriate technology to answer this question. Assume that the traffic to the web site of Smiley's People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.54 million visitors per day and a standard deviation of 890,000 visitors per day. (a) What is the probability that the web site has fewer than 5 million visitors in a single day? (Round your answer to four decimal places.) (b) What is the probability that the web site has 3 million or more visitors in a single day? (Round your answer to four decimal places.) (c) What is the probability that the web site has between 3 million and 4 million visitors in a single day? (Round your answer to four decimal places.) (d) Assume that 85% of the time, the Smiley's People web servers can handle the daily web traffic volume without purchasing additional server capacity. What is the minimum amount of web traffic (in millions of visitors per day) that will require Smiley's People to purchase additional server capacity? (Round your answer to two decimal places.) million visitors per day DATAfiles: tomlinsonprices.xlsx and tomlinsonunits2.xlsx Tomlinson's Lumens, Inc. (TLI) is a large manufacturer of lighting fixtures and parts. TLA's Accounting department receives files tomlinsonprices.xlsx and tomlinsonunits2.xlsx that summarize the price and units sold, respectively, for each product it produces on a quarterly basis. Use this information to calculate the company's most recent quarterly total sales for TLI's Accounting department. What are the quarterly total sales (in $) for the first five products in tomlinsonunits2.xlsx? Product Code Total Sales L590AX8 $ Q760CE5 $ Z155L04 $ Y2170S5 $ Z143KH3 $ What is the quarterly total sales (in $) across all products? $ Need Help? Read It DATAfiles: primoappts4.xlsx and primolenses4.xlsx A local PrimoVision Eyewear store maintains a file named primoappts4.xlsx that contains the customer ID number and date of most recent appointment for each of its customers. The store also maintains a file named primolenses4.xlsx that contains the customer ID number and type of corrective lenses each customer currently uses. The types of corrective lenses includes: monofocal lenses bifocal lenses trifocal lenses progressive lenses disposable contact lenses daily wear contact lenses extended wear contact lenses bifocal contact lenses rigid gas permeable contact lenses toric contact lenses The office manager of the PrimoVision Eyewear store needs a file that contains the fields customer ID number, date of most recent visit for each of its customers, and type of corrective lenses the customer currently uses. The manager is also concerned that information on the most recent visit or type of corrective lenses the customer currently uses are missing for some records, and they suspect that these data also include some duplicate records. (a) Append the appropriate value for the field Lens Type in the file primolenses4.xlsx to each record in the file primoappts4.xlsx. Save your results as a file under the name primodata.xlsx. What are the lens types for the first five customers in primodata.xlsx? (a) Append the appropriate value for the field Lens Type in the file primolenses4.xlsx to each record in the file primoappts4.xlsx. Save your results as a file under the name primodata.xlsx. What are the lens types for the first five customers in primodata.xlsx? Customer Number Lens Type 822567 trifocal lenses 770614 trifocal lenses 84155 extended wear contact lenses 741715 rigid gas permeable contact lenses 418547 extended wear contact lenses (b) Search the file primodata.xlsx that you created in part (a) for missing values for the Lens Type field. Provide a list of the ID numbers of the customers for whom the value of the field Lens Type is missing. (Enter your answers as a comma-separated list. If an answer does not exist, enter DNE.) (c) Search the file primodata.xlsx that you created in part (a) for duplicate records. Provide a list of the customer ID numbers for the duplicate records you find. (Enter your answers as a comma-separated list. If an answer does not exist, enter DNE.) A realtor who flips houses (purchases and remodels them with the goal of reselling them for profit) has collected data on a variety of house characteristics and selling prices for a sample of 1,193 recent house sales in Iowa. For each house sold, the following data are provided in the file iowahouses1.xlsx. LotArea = Lot size in square feet CentralAir = 1 has central air-conditioning, 0 does not have central air-conditioning GrLivArea = Above grade (ground) living area in square feet FullBath = Full bathrooms above ground HalfBath = Half bathrooms above ground BedroomAbvGr = Bedrooms above ground GarageCars = Size of the garage in car capacity Age = Age of the house when sold (in years) SalePrice = Selling price of the house (in dollars) The realtor would like to add a field called PricePerSQFT that contains the sales price per square foot (the value of the field SalePrice divided by the value of the field GrLivArea for each record) and a field called Old OrNew that has a value of Old if the age of the home is at least 20 years and has a value of New otherwise for each record. Create a new field named PricePerSQFT in the file iowahouses1.xlsx. Define the value of this field for each record to equal the record's SalePrice divided by the record's GrLivArea. Add a new field named OldOrNew to your results. Define the value of this field for each record to equal Old if the age of the home is at least 20 years, and New otherwise. Save your results as a file under the name iowahousesrevised.xlsx. What are the values of the PricePerSQFT (in $) and OldOrNew fields for the first five records? (Round your answers to two decimal places.) C H J K 1 GrLivArea Age SalePrice PricePerSQFT OldOrNew 2 1,694 3 307,000 $ New 3 2,090 36 200,000 $ Old 45 1,077 69 118,000 $ Old 1,040 43 129,500 $ Old 6 912 46 144,000 Old What is the average sales price per square foot (in $) of the entire data set? (Round your answer to two decimal places.) $ For the entire data set, how many houses are classified as New and how many are classified as Old? houses classified as New and There are Need Help? Read It houses classified as Old. Suppose that for a recent admissions class, an Ivy League college received 2,856 applications for early admission. Of this group, it admitted 1,036 students early, rejected 853 outright, and deferred 967 to the regular admission pool for further consideration. In the past, this school has admitted 18% of the deferred early admission applicants during the regular admission process. Counting the students admitted early and the students admitted during the regular admission process, the total class size was 2,378. Let E, R, and D represent the events that a student who applies for early admission is admitted early, rejected outright, or deferred to the regular admissions pool. (a) Use the data to estimate P(E), P(R), and P(D). (Round your answers to four decimal places.) P(E) P(R) = P(D) = (b) Are events E and D mutually exclusive? They ---Select-- mutually exclusive. Find P(END). P(END) = (c) For the 2,378 students who were admitted, what is the probability that a randomly selected student was accepted during early admission? (Round your answer to four decimal places.) (d) Suppose a student applies for early admission. What is the probability that the student will be admitted for early admission or be deferred and later admitted during the regular admission process? (Round your answer to four decimal places.) Students taking a test were asked about their undergraduate major and intent to pursue their MBA as a full-time or part-time student. A summary of their responses is as follows. Business Undergraduate Major Engineering Other Totals Intended Enrollment Status Full-Time 351 196 252 799 Part-Time 151 162 193 506 Totals 502 358 445 1,305 (a) Develop a joint probability table for these data. (Round your answers to three decimal places.) Undergraduate Major Business Intended Enrollment Status Full-Time Part-Time Totals Engineering Enter a number. Other Totals 1.000 (b) Use the marginal probabilities of undergraduate major (business, engineering, or other) to comment on which undergraduate major produces the most potential MBA students. From the marginal probabilities, we can tell that ---Select--- majors produce the most potential MBA students. (c) If a student intends to attend classes full-time in pursuit of an MBA degree, what is the probability that the student was an undergraduate engineering major? (Round your answer to three decimal places.) (d) If a student was an undergraduate business major, what is the probability that the student intends to attend classes full-time in pursuit of an MBA degree? (Round your answer to three decimal places.) (e) Let F denote the event that the student intends to attend classes full-time in pursuit of an MBA degree, and let B denote the event that the student was an undergraduate business major. Are events F and B independent? Justify your answer. (Round your answers to three decimal places.) P(F) = and P(F B) = Need Help? Read It Watch It Master It so the events ---Select-- independent. An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil) = 0.40 P(medium-quality oil) = 0.10 P(no oil) = 0.50 (a) What is the probability of finding oil? (b) After 200 feet of drilling on the first well, a soil test is taken. The probabilities of finding the particular type of soil identified by the test follow. P(soil | high-quality oil) = 0.30 P(soil | medium-quality oil) = 0.70 P(soil | no oil) = 0.10 How should the firm interpret the soil test? Calculate the revised probabilities by completing the table below. (Round your answers to two decimal places. Let S denote the event that the particular type of soil is found.) Events P(A;) P(S|A;) High Quality (A1) 0.40 0.30 Medium Quality (A2) 0.10 0.70 No Oil (A3) 0.50 0.10 Total 1.00 P(S) = P(A; NS) P(A|S) 1.00 What is the new probability for finding oil after finding this particular type of soil? (Round your answer to two decimal places.) P(oil | S) = Internal auditors are often used to review an organization's financial statements such as balance sheets, income statements, and cash flow statements prior to public filings. Auditors seek to verify that the financial statements accurately represent the financial position of the organization and that the statements follow accepted accounting principles. Many errors that are discovered by auditors are minor errors that are easily corrected. However, some errors are serious and require substantial time to rectify. Suppose that the financial statements of 567 public companies are audited. The file internalaudit2.xlsx contains the number of errors discovered during the internal audit of each of these 567 public companies that were classified as "serious errors." Use the data in the file internalaudit2.xlsx to answer the following. (a) Construct an empirical discrete probability distribution for the number of serious errors discovered during the internal audits of these 567 public companies. (Round your answers to five decimal places.) Number of Serious Errors Probability f(x) 0 1 2 3 4 5 6 (b) What is the probability that a company has no serious errors in its financial statements? (Round your answer to five decimal places.) (c) What is the probability that a company has four or more serious errors in its financial statements? (Round your answer to five decimal places.) (d) What is the expected number of serious errors in a company's financial statements? (Round your answer to four decimal places.) (e) What is the variance of the number of serious errors in a company's financial statements? (Round your answer to four decimal places.) (f) What is the standard deviation of the number of serious errors in a company's financial statements? (Round your answer to four decimal places.) (b) Compute P(x < 15). (c) Compute P(13 x 16). (d) Compute E(x). (e) Compute Var(x). (Round your answer to two decimal places.) The Siler Construction Company is about to bid on a new industrial construction project. To formulate their bid, the company needs to estimate the time required for the project. Based on past experience, management expects that the project will require at least 24 months, and could take as long as 44 months if there are complications. The most likely scenario is that the project will require 38 months. Assume that the actual time for the project can be approximated using a triangular probability distribution. (a) What is the probability that the project will take less than 38 months? (b) What is the probability that the project will take between 36 and 40 months? (Round your answer to four decimal places.) A person must score in the upper 2% of the population on an admissions test to qualify for membership in society catering to highly intelligent individuals. If test scores are normally distributed with a mean of 100 and a standard deviation of 15, what is the minimum score a person must have to qualify for the society? (Round your answer to the nearest integer.) You may need to use the appropriate technology to answer this question. Assume that the traffic to the web site of Smiley's People, Inc., which sells customized T-shirts, follows a normal distribution, with a mean of 4.54 million visitors per day and a standard deviation of 890,000 visitors per day. (a) What is the probability that the web site has fewer than 5 million visitors in a single day? (Round your answer to four decimal places.) (b) What is the probability that the web site has 3 million or more visitors in a single day? (Round your answer to four decimal places.) (c) What is the probability that the web site has between 3 million and 4 million visitors in a single day? (Round your answer to four decimal places.) (d) Assume that 85% of the time, the Smiley's People web servers can handle the daily web traffic volume without purchasing additional server capacity. What is the minimum amount of web traffic (in millions of visitors per day) that will require Smiley's People to purchase additional server capacity? (Round your answer to two decimal places.) million visitors per day