In a survey conducted by a business-advisory firm of 4980 adults 18 years old and older in June 2009, during the "GreatRecession," the following question was asked: How long do you think it will take to recover your personal net worth? Theresults of the survey follow. (Round your answers to three decimal places.)Answer (years)5-103-41-2210Respondents100413072112557(a) Determine the empirical probability distribution associated with these data.Answer (years)1-23-45-10210Probability(b) If a person who participated in the survey is selected at random, what is the probability that he or she expectsthat it will take 5 or more years to recover his or her personal net worth?

(a)The total number of adults or person in a survey conducted by a business-advisory firm is…

Answered: In a survey conducted by a…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A survey asked teens in the seventh through twelfth grade to estimate the likelihood that they would be married within ten years. The responses are tabulated below. Female Male Total Less than 50% 502 522 1024 At least 50% 2154 1699 3853 Total 2656 2221 4877 What is the probability that a randomly selected study participant believes that the probability that he or she will be married within ten years is less than 50%? Round your answer to four decimal places.
Media experts claim that daily print newspapers are declining because of Internet access. Listed below, from left to right and then top to bottom, are the numbers of daily print newspapers in a large region for a recent sequence of years. First find the median, then test for randomness of the numbers above and below the median using a = 0.05. What do the results suggest? 1620 1593 1570 1554 1547 1539 1524 1513 1488 1485 1477 1467 1455 1454 1455 1446 1433 1428 1408 1391 1380 The median is (Type an integer or a decimal. Do not round.) ~
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hwm7 17 The table summarizes results from 980 pedestrian deaths that were caused by automobile accidents. DriverIntoxicated? Pedestrian Intoxicated? Yes No Yes 50 80 No 219 631 If two different pedestrian deaths are randomly selected, find the probability that they both involved drivers that were intoxicated.Report the answer as a percent rounded to one decimal place accuracy.
The price of a share of stock divided by the company's estimated future earnings per share is called the P/E ratio. High P/E ratios usually indicate "growth" stocks, or maybe stocks that are simply overpriced. Low P/E ratios indicate "value" stocks or bargain stocks. A random sample of 51 of the largest companies in the United States gave the following P/E ratiost. 9 20 11 35 19 13 15 21 29 53 16 26 21 14 21 27 10 12 47 14 40 18 60 72 33 14 8 49 5 16 8 19 12 31 67 51 26 18 17 20 19 13 25 23 27 44 20 27 19 18 32 (a) Use a calculator with mean and sample standard deviation keys to find the sample mean x and sample standard deviation s. (Round your answers to one decimal place.) (b) Find a 90% confidence interval for the P/E population mean u of all large U.S. companies. (Round your answers to one decimal place.) lower limit upper limit (c) Find a 99% confidence interval for the P/E population mean u of all large U.S. companies. (Round your answers to one decimal place.) lower limit upper…
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A random survey asked respondents about their current annual salaries. The results are given in the table below. Salary Range Below $18,000 $18,000-$27,999 Number of Respondents 25 43 $28,000-$35,999 51 $36,000-$45,999 57 $46,000-$59,999 41 $60,000-$79,999 38 $80,000-$99,999 23 $100,000 or more 13 If a respondent from the survey is selected at random, compute the probability of the following. (Enter your probability as a fraction.) The respondent earns less than $36,000 annually.

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