Answered: The Wall Street Journal reported that…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

The Wall Street Journal reported that approximately 25% of the people who are told a product is improved will believe that it is, in fact, improved. The remaining 75% believe that this is just hype (the same old thing with no real improvement). Suppose a marketing study consists of a random sample of ten people who are given a sales talk about a new, improved product.

(a) Make a histogram showing the probability that r = 0 to 10 people believe the product is, in fact, improved.

(b) Compute the mean and standard deviation of this probability distribution. (Round your standard deviation to two decimal places.)

? = people

(c) What is the smallest number of people needed in the marketing study to be at least 99% sure that at least one person believes the product to be improved? (Hint: Note that P(r ≥ 1) = 0.99 is equivalent to 1 − P(0) = 0.99, or P(0) = 0.01.)
people

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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