Each of a sample of 176 residents selected from a small town is asked how much money he or she spent last week on state lottery tickets. 130 of the residents responded with $0. The mean expenditure for the remaining residents was $21. The largest expenditure was $210. Step 5 of 5: What proportion of the sample did not purchase any lottery tickets? Express your answer as a simplified fraction or as a value rounded to one decimal place.
Each of a sample of 176 residents selected from a small town is asked how much money he or she spent last week on state lottery tickets. 130 of the residents responded with $0. The mean expenditure for the remaining residents was $21. The largest expenditure was $210. Step 5 of 5: What proportion of the sample did not purchase any lottery tickets? Express your answer as a simplified fraction or as a value rounded to one decimal place.
Chapter19: Externalities And Public Goods
Section: Chapter Questions
Problem 19.12P
Related questions
Question

Transcribed Image Text:Each of a sample of 176 residents selected from a small town is asked how much money he or she spent last week on state lottery tickets. 130 of the residents
responded with $0. The mean expenditure for the remaining residents was $21. The largest expenditure was $210.
Step 5 of 5: What proportion of the sample did not purchase any lottery tickets? Express your answer as a simplified fraction or as a value rounded to one decimal
place.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps

Recommended textbooks for you

Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning

Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning

Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning

Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning


