Suppose that 2% of transactions in a region are fraudulent. Transactions are assumed to be independent of each other. Calculate with the help of the normal approximation that between 1000 More than 20 transactions are fraudulent. Show your work.
Q: There is some evidence that, in the years −198185 , a simple name change resulted in a short-term…
A: μ±2σGiven , μ=0.89 , σ=0.16∴ μ-2σ,μ+2σ=0.57,1.21
Q: In 2020, Arizona's second wave of Covid-19 infec- ions grew at 3% a day; that is, the number of…
A:
Q: 1. Suppose an electronics store offers an extended warranty on a cell phone that covers screenrepair…
A: 1) Given Extended warranty cost per month = $9.99 chance of needing a screen repair in the next…
Q: Suppose that the sale of particular items is poison with mean 5. Generate 20 days of sales by the…
A: Monte -Carlo Method is used to generate random numbers. This method provides an estimate of the…
Q: The owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects…
A: Given: probability(p)=0.073 (7.3%)sample size(n)=13number of success (x)=2 x follows…
Q: Since the discovery of the tiger gar population in Lake Richmond, the population of bluegill fish…
A: Since the discovery of the tiger gar population in Lake Richmond, the population of bluegill fish…
Q: What is the correct interpretation of the intercept? Select the correct choice below and fill in the…
A: Given Information: Profit from sales ($) = 6861.48 + 538.24* Number of accounts Regression…
Q: the owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects…
A:
Q: The owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects…
A:
Q: The Majoring in Money study by Sallie Mae from December 2015 showed that most college students…
A: According to the given information in this question Population proportion= 0.23 sample size = 380…
Q: For many years, businesses have struggled with the rising cost of health care. But recently, the…
A: sample size (n) = 900p^ = 0.5895% ci p.
Q: able to easily calculate the actual percent of dropped calls directly from the entire database of…
A: Given data sample size, n =2500 population proportion,p= 0.01 Significance level, α=…
Q: Each year, more than 2 million people in the United States become infected with bacteria that are…
A: Solution : Given information n1= 174 Sample size of state one n2=375 Sample size of sate two X1=11…
Q: Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good…
A: Given : Sample size : n=76 Number of successes : x=21 We are conducting a study if the proportion of…
Q: Suppose that in a family savings equation, for the years 1990, 1991, and 1992, we let kidsit denote…
A: Introduction: The unobserved effects model for the ith observation for a time series data with k…
Q: Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good…
A: From the provided information, The hypotheses can be constructed as: H0: p = 0.30 H1: p > 0.30…
Q: The Capital Asset Pricing Model (CAPM) is a financial model that assumes returns on a portfolio are…
A: Given that. X~N( μ , ?) μ=14.7 , ?=33 Z-score =( x - μ )/?
Q: Financial analysts have developed models based on financial ratios that predict whether or not a…
A: Given Model correctly predicted the bankruptcy of 88 %of firms that in fact did fail 82% non…
Q: For many years, businesses have struggled with the rising cost of health care. But recently, the…
A: sample size(n)=900 sample proportion(p^)=52%=0.52 confidence level=95%
Q: Data on the 4000 largest mutual funds shows which funds provided a high 5-year return and a high…
A: Consider an event A that defines the number of mutual funds with high 5-year return, and another…
Q: Here are annual revenue data in billions of dollars for the 10-year period 2008-2017 for two…
A: A regression is a technique in statistics that relates a dependent and independent variable. In this…
Q: Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good…
A: Given information
Q: suppose that from a sample of 200,000 new york workers, 32,400 reported traveling more than an hour…
A: About 16.2% of the workers in the state traveled more than an hour to work every day in 2011. That…
Q: Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good…
A: Given Null Hypothesis Ho : p = 0.30Alternate Hypothesis Ha : p < 0.30Sample size n = 78Number of…
Q: A study identified top accounting firms across the United States. The Southeast and Gulf Coast…
A:
Q: 3) The soccer team has won 4 out of its last 7 games. Assuming there are no ties and this rate…
A: Here the given information is : Total games , n = 35 Won 4 games out of 7 games we have to find the…
Q: Which answer is the closest value to the rate of return on a price-weighted index of the three…
A: It is an important part of statistics . It is widely used .
Q: What is the expected profit for this bid (to 2 decimals)? %24
A: It is given that someone is willing to pay you is $16,000 for the property.
Q: An electronics retailer is developing a model for insurance policies on new cell phone purchases. It…
A:
Q: Many investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good…
A: The test statistic for this sample is, Thus, the test statistic is 1.022.
Q: Rainie owns a $200,000 house and has a 5% chance of experiencing a fire in any given year. Assume…
A:
Q: 9. Suppose an electronics store offers an extended warranty on a cell phone that covers screenrepair…
A: Given Information: Warranty premium = $ 9.99 There is a 14% chance of needing a screen repair in…
Q: There is some evidence that, in the years −198185 , a simple name change resulted in a short-term…
A: Note: Hi there! Thank you for posting the question. As there are multiple sub parts, according to…
Q: (a) At the 0.05 level of significance, is there evidence of a difference in the variability in…
A: From the given data: Let X denote growth in Southeast region and Y denote growth in Gulf Coast.…
Q: The following is true about descriptive analysis except: Descriptive analysis describes what have…
A: By definition, descriptive analysis is defined as the process of quantitative summarization of the…
Q: The owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects…
A:
Q: Regardless of age, about 20% of American adults participate in fitness activities at least twice a…
A: The provided information is n=100x=15α=0.05The proportion is p^=xn=15100=0.15a.The null and…
Q: According to scientists, the cockroach has had 300 million years to develop a resistance to…
A: Solution:-Given thatSample size: n = 5,000Sample mean: x̄ = 13,857Standard deviation of the sample:…
Q: uppose 58.8% of small businesses experience cash flow problems in their first 5 years. A consultant…
A: Answer Sample size [n] = 557 P = 58.8% =58.8/100 = 0.588 the probability that greater than 55.85%…
Q: A stock index consists of businesses in both Europe and the United States. Assume that each business…
A: From the given information we make a table: Number of business 840 720 probability 60%=0.60…
Suppose that 2% of transactions in a region are fraudulent. Transactions are assumed to be independent of each other. Calculate with the help of the normal approximation that between 1000 More than 20 transactions are fraudulent. Show your work.
![](/static/compass_v2/shared-icons/check-mark.png)
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
- 4. Along with interest rates, life expectancy is a component in pricing financial annuities. Suppose that you know that last year average life expectancy was 77 years for your annuity holders. Now you want to know if your clients this year have a longer life expectancy, on average, so you randomly sample n=20 of your recently deceased annuity holders to see actual age at death. Using a 5% level of significance, test whether or not the new data shows evidence of your annuity holders now live longer than 77 years, on average. The data below are the sample data (in years of life): (78,75,83,81,81,77,78,79,79,81,76,79,77,76,79,81,73,74,78,79) a) Does this sample indicate that life expectancy has increased? Test an appropriate hypothesis and state your conclusion (use a 5% level of significance). Be sure to check the necessary assumptions and conditions before conducting your test. b) Construct A 90% confidence interval for the true average age of death for the population of your annuity…The owner of a small deli is trying to decide whether to discontinue selling magazines. He suspects that only 9.7% of his customers buy a magazine and he thinks that he might be able to use the display space to sell something more profitable. Before making a final decision, he decides that for one day he will keep track of the number of customers that buy a magazine. Assuming his suspicion that 9.7% of his customers buy a magazine is correct, what is the probability that exactly 6 out of the first 13 customers buy a magazine? 0.000305894 0.00100664 0.000699781 0.000778757 0.000204114 0.000326183To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with larg given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow. Adjusted Gross Income Itemized Deductions ($1,000s) 22 ($1,000) 9.6 27 9.6 32 10.1 48 11.1 65 13.5 85 120 15.7 25.5 (a) Develop a scatter diagram for these data with adjusted gross income as the independent variable. 30 25 20 15 10 5 30 25 20 15 10 5+ 30 25- 20- 15- 10- .. 5- 0 20 40 60 80 100 120 140 Adjusted Gross Income ($1,000s) 0 20 40 60 80 100 120 140 0 Adjusted Gross Income ($1,000s) 20 40 60 80 100 120 140 Adjusted Gross Income ($1,000s) 30 25 20 15 10 5- 0 20 40 60 80 100 Adjusted Gross Income ($1,000s) 120 140 G (b) Use the least squares method to…
- To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger th average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow. Adjusted Gross Income ($1,000s) 22 Itemized Deductions ($1,000s) 9.6 27 9.6 32 10.1 48 11.1 65 11.5 85 120 19.7 23.5 (a) Develop a scatter diagram for these data with adjusted gross income as the independent variable. 30 25 20 15 • 10 5 Itemized Deductions ($1,000s) 0 20 40 60 80 100 120 Adjusted Gross Income ($1,000s) 140 30 25 20 15 10 5. Itemized Deductions ($1,000s) 30 25 20 15 10 • 15 • 10 5- 0 20 40 60 80 100 120 140 0 Adjusted Gross Income ($1,000s) 20 40 60 80 100…Total DVD and Blu-ray disc sales in 2009 were $8.72 billion. For the purposes of this problem, you will combine DVD and Blue-ray disk sales into one category of DVD sales. A study by In-Stat predicted that "physical disc sales will decline by $4.7 billion by 2014," and that "streaming, on the other hand, should grow from its current $2.2 billion to $6.3 billion over the same time period (2009–2014). d. Write an equation that represents the linear model for streaming videos. Let S = the total sales of streaming videos in billions of dollars, and t = the number of years after 2009. e. In what year do the models predict streaming video sales to exceed DVD sales?It is known that in any given year, • 90% of the people in a city move to the suburbs; • 80% of the people in the suburbs do not move to the city. Given an initial city population of 55,000 and an initial suburb population of 77,000, what are the long-term population levels of the city and the suburb?
- Suppose the following table was generated from a sample of 20 CEOs relating annual salary to years of experience and the industry in which they are employed. Indicator (dummy) variables were created for each Industry (1 if the CEO works in that industry, 0 otherwise). The Health Care Industry is considered the base-level industry. Intercept Experience Service Manufacturing Financial Coefficients 140037.615086 3292.653840 5938.697230 -14364.236092 17037.306498 Standard Error 4147.421168 231.558624 5270.795161 5408.963617 5303.248604 3.212617 t Stat 33.764985 14.219526 1.126718 0.277565 -2.655636 0.017988 0.005812 P-Value 0.000000 0.000000 Copy Data According to the results, if a CEO in the Health Care industry and a CEO in the Financial industry both have 24 years of experience, what is the estimated difference in annual salary between the two CEOs? Enter your answer below, rounded to two decimal places.An insurance company offers its policyholders a number of different premium payment options. For a randomly selected policyholder, let X = the number of months between successive payments.Total DVD and Blu-ray disc sales in 2009 were $8.72 billion. For the purposes of this problem, you will combine DVD and Blue-ray disk sales into one category of DVD sales. A study by In-Stat predicted that "physical disc sales will decline by $4.7 billion by 2014," and that "streaming, on the other hand, should grow from its current $2.2 billion to $6.3 billion over the same time period (2009–2014) a. What is the slope, including units, of the model for DVD sales? Write a statement interpreting the meaning of the slope in the context of the problem. b. Write an equation that represents the linear model for DVD sales. Let D = the sales of DVDs in billions of dollars, and t = the number of years after 2009. c. What is the slope, including units, of the model for streaming videos?
![A First Course in Probability (10th Edition)](https://www.bartleby.com/isbn_cover_images/9780134753119/9780134753119_smallCoverImage.gif)
![A First Course in Probability](https://www.bartleby.com/isbn_cover_images/9780321794772/9780321794772_smallCoverImage.gif)
![A First Course in Probability (10th Edition)](https://www.bartleby.com/isbn_cover_images/9780134753119/9780134753119_smallCoverImage.gif)
![A First Course in Probability](https://www.bartleby.com/isbn_cover_images/9780321794772/9780321794772_smallCoverImage.gif)