Pearson eText Business Statistics: First Course -- Instant Access (Pearson+)
8th Edition
ISBN: 9780136880974
Author: David Levine, David Stephan
Publisher: PEARSON+
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 1, Problem 1.52CRP
(a)
To determine
To find: The population of interest.
(b)
To determine
To describe: the sample that was collected.
(c)
To determine
To find: Whether each of the demographic variables mentioned is categorical or numerical.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage their credit cards in a reasonable way. It showed that almost two-thirds of students pay their credit card balance in full every month and
25%
of students who own credit cards make partial payments that exceed the minimum amount due. You are curious to find out if credit card payment behavior of students has changed since 2015 and collect data from a random sample of
370
students. You find that
71
students are making partial payments on their credit cards that exceed the minimum amount due. Using
α=0.01,
complete parts a and b below.
The report “Undergraduate Students and Credit Cards in 2004: An Analysis of Usage Rates and Trends” (Nellie Mae, May 2005) estimated that 21% of undergraduates with credit cards pay them off each month and that the average outstanding balance on undergraduates’ credit cards is $2169. These estimates were based on an online survey that was sent to 1260 students. Responses were received from 132 of these students. Is it reasonable to generalize the reported estimates to the population of all undergraduate students? Address two possible sources of bias, and name the bias in your answer.
Walmart predicted the following end-of-year earnings from 2003 - 2012 in billions of
dollars (9.5, 9.8, 10.2, 10.7, 10.5, 11.0, 12.1, 14.7, 16.3, 18.7). Their actual end-of-
year earnings for the same years are as follows: 9.1, 9.2, 10.6, 10.3, 9.9, 10.4, 11.6,
11.8, 13.1, 22.7). In testing the claim that the mean predicted value is the same as
the mean actual value, which p-value is correct?
0.228
0.456
0.779
0.05
4
Chapter 1 Solutions
Pearson eText Business Statistics: First Course -- Instant Access (Pearson+)
Ch. 1 - Four different beverages are sold at a fast-food...Ch. 1 - U.S. businesses are listed by size: small, medium,...Ch. 1 - Prob. 1.3LBCh. 1 - Prob. 1.4ACCh. 1 - Prob. 1.5ACCh. 1 - Prob. 1.6ACCh. 1 - For each of the following variables, determine...Ch. 1 - Prob. 1.8ACCh. 1 - Prob. 1.9ACCh. 1 - Prob. 1.10AC
Ch. 1 - The director of market research at a large...Ch. 1 - Prob. 1.15ACCh. 1 - Prob. 1.17LBCh. 1 - Fora population of N = 902, verify that by...Ch. 1 - Given a population of N = 93, starting in row 29,...Ch. 1 - Prob. 1.20ACCh. 1 - You want to select a random sample of n = 1 from a...Ch. 1 - Prob. 1.22ACCh. 1 - Prob. 1.23ACCh. 1 - Prob. 1.24ACCh. 1 - Prob. 1.25ACCh. 1 - Prob. 1.26ACCh. 1 - Prob. 1.27ACCh. 1 - Prob. 1.28ACCh. 1 - Prob. 1.29ACCh. 1 - Prob. 1.30ACCh. 1 - Prob. 1.34ACCh. 1 - Prob. 1.35CYUCh. 1 - Prob. 1.36CYUCh. 1 - Prob. 1.37CYUCh. 1 - Prob. 1.38CYUCh. 1 - Prob. 1.39CYUCh. 1 - What is the difference between an interval scaled...Ch. 1 - What is the difference between probability...Ch. 1 - Prob. 1.42CYUCh. 1 - Prob. 1.43CYUCh. 1 - Prob. 1.45CYUCh. 1 - Prob. 1.48CRPCh. 1 - Prob. 1.51CRPCh. 1 - Prob. 1.52CRPCh. 1 - Social media provides an enormous amount of data...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- 6. The Computer Security Institute (CSI) conducts an annual survey of computer crime at U.S. businesses. CSI sends survey questionnaires to computer security personnel at all U.S. corporations and government agencies. The 2010 CSI survey was sent and 351 organizations responded. One of the survey questions asked respondents to indicate the percentage of monetary losses attributable to malicious actions by individuals within the organization (i.e., malicious insider actions). The following table summarizes the data for the 144 firms who experienced some monetary loss due to malicious insider actions. Lower Bound 0 10 20 30 40 50 60 70 80 90 Sum Upper Bound 10 20 30 40 50 60 70 80 90 100 Cell Midpoint 5 15 25 35 45 55 65 75 85 95 Frequency 43 55 16 3 2 1 9 4 5 6 144 a. Find the mean percentage loss for the sample of firms who reported some loss. b. Find the median, upper and lower quartiles. c. Draw the box plot. d. Would you describe this distribution as symmetric or skewed? Justify. e.…arrow_forwardThe following table shows a data set containing information for 45 mutual funds that are part of the Morningstar Funds 500 for 2008. . The data set includes the following five variables: Use Excel to answer the following question: a. Prepare a crosstabulation of the data on Fund Type (row variable) and the average annual return over the past 5 years (column variable). Use classes of 0–10, 10–20, 20–30, 30–40, 40–50, and 50–60 for the 5-Year Average Return (%) (Class width is 10). B. Construct frequency distributions for Fund Type and 5-Year Average Return (%) respectively. Based on the frequency distributions of the two variables, which of the following answers is wrong? Group of answer choices Out of the 45 mutual funds, there are 2 funds with 5-year average return of 30 - 40 (%). Out of the 45 mutual funds, there are 28 funds with 5-year average return of 10 - 20 (%). Out of the 45 mutual funds, there are 28 DE type of funds. Out of the 45 mutual funds, there are 10…arrow_forward(c) A company studied the number of lost-time accidents occurring at its Nairobi Industrial Area, plant. Historical records show that 6% of the employees suffered lost-time accidents last year. Management believes that a special safety program will reduce such accidents to 5% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost time accident during the current year. What percentage of the employees will suffer either of the lost-time accident over the two-year period? hp 近arrow_forward
- The Boston public school district has had difficulty maintaining on-time bus service for its students ("A Year Later, School Buses Still Late," Boston Globe, October 5, 2011). Suppose the district develops a new bus schedule to help combat chronic lateness on a particularly woeful route. Historically, the bus service on the route has been, on average, 12 minutes late. After the schedule adjustment, the first 36 runs were an average of 8 minutes late. As a result, the Boston public school district claimed that the schedule adjustment was an improvement-students were not as late. Assume a population standard deviation for bus arrival time of 12 minutes. Develop the null and alternative hypotheses to determine whether the schedule adjustment reduced the average lateness time of 12 minutes. H:µ=8 and H:µ#8 H:µ²12 and H:µ8 and H¸:X <8 Aarrow_forwardThe Boston public school district has had difficulty maintaining on-time bus service for its students ("A Year Later, School Buses Still Late," Boston Globe, October 5, 2011). Suppose the district develops a new bus schedule to help combat chronic lateness on a particularly woeful route. Historically, the bus service on the route has been, on average, 12 minutes late. After the schedule adjustment, the first 36 runs were an average of 8 minutes late. As a result, the Boston public school district claimed that the schedule adjustment was an improvement-students were not as late. Assume a population standard deviation for bus arrival time of 12 minutes. Develop the null and alternative hypotheses to determine whether the schedule adjustment reduced the average lateness time of 12 minutes. H, :µ<12 and H:µ212 H, :µ=8 and Hu#8 A H, :µ212 and H:µ<12 H:X 28 and H: X <8arrow_forwardThe Boston public school district has had difficulty maintaining on-time bus service for its students ("A Year Later, School Buses Still Late," Boston Globe, October 5, 2011). Suppose the district develops a new bus schedule to help combat chronic lateness on a particularly woeful route. Historically, the bus service on the route has been, on average, 12 minutes late. After the schedule adjustment, the first 36 runs were an average of 8 minutes late. As a result, the Boston public school district claimed that the schedule adjustment was an improvement-students were not as late. Assume a population standard deviation for bus arrival time of 12 minutes. Develop the null and alternative hypotheses to determine whether the schedule adjustment reduced the average lateness time of 12 minutes. H,:µ=8 and H:µ#8 A H,:X 28 and H¸:X<8 H: u<12 and H:µ212 A H, :µ212 and H :µ<12arrow_forward
- The Boston public school district has had difficulty maintaining on-time bus service for its students ("A Year Later, School Buses Still Late," Boston Globe, October 5, 2011). Suppose the district develops a new bus schedule to help combat chronic lateness on a particularly woeful route. Historically, the bus service on the route has been, on average, 12 minutes late. After the schedule adjustment, the first 36 runs were an average of 8 minutes late. As a result, the Boston public school district claimed that the schedule adjustment was an improvement-students were not as late. Assume a population standard deviation for bus arrival time of 12 minutes. At the 5% significance level, does the evidence support the Boston public school district's claim? No, since the p-value is less than alpha O No, since the value of the test statistic is greater than the critical value Yes, since the p-value is less than alpha Yes, since the value of the test statistic is greater than the critical valuearrow_forwardPayments In a May 2007 Experian/Gallup PersonalCredit Index poll of 1008 U.S. adults aged 18 and over,8% of respondents said they were very uncomfortablewith their ability to make their monthly payments ontheir current debt during the next three months. A moredetailed poll surveyed 1288 adults, reporting similaroverall results and also noting differences among fourage groups: 18–29, 30–49, 50–64, and 65+.a) Do you expect the 95% confidence interval for the true proportion of all 18- to 29-year-olds who are wor-ried to be wider or narrower than the 95% confidence interval for the true proportion of all U.S. consumers?Explain.b) Do you expect this second poll’s overall margin oferror to be larger or smaller than the Experian/Galluppoll’s? Explain.arrow_forwardAutoWrecks, Inc. sells auto insurance. AutoWrecks keeps close tabs on its customers' driving records, updating its rates according to the trends indicated by these records. AutoWrecks' records indicate that, ina "typical" year, roughly 70% of the company's customers do not commit a moving violation, 10% commit exactly one moving violation, 15% commit exactly two moving violations, and 5% commit three or moremoving violations.This past year's driving records for a random sample of 100 AutoWrecks customers are summarized by the first row of numbers in the table below. That row gives this year's observed frequency for each moving violation category for the sample of 100 AutoWrecks customers. The second row of numbers gives thefrequencies expected for a sample of 100 AutoWrecks customers if the moving violations distribution for this year is the same as the distribution for a "typical" year. The bottom row of numbers contains thefollowing value for each of the moving violation categories.…arrow_forward
- You may need to use the appropriate appendix table or technology to answer this question. Sparr Investments, Inc., specializes in tax-deferred investment opportunities for its clients. Recently Sparr offered a payroll deduction investment program for the employees of a particular company. Sparr estimates that the employees are currently averaging $100 or less per month in tax-deferred investments. A sample of 39 employees will be used to test Sparr's hypothesis about the current level of investment activity among the population of employees. Assume the employee monthly tax-deferred investment amounts have a population standard deviation of $75 and that a 0.05 level of significance will be used in the hypothesis test. (a) What is the type II error in this situation? O Reject Sparr Investments' claim that the employees are currently averaging $100 or less per month in tax-deferred investments when it is true. O Reject Sparr Investments' claim that the employees are currently averaging…arrow_forwardV. Kindly answer as soon as possible. Thank you!arrow_forwardA cell phone service provider claims that only 1% of their calls get "dropped" (i.e., neither party hangs up, but the connection is lost). You work for the Consumer Protection Agency, and believe that the percent of dropped calls from this provider is higher than 1%. Your agency has been granted access to this company's detailed call records. It takes careful examination of each call transaction to determine if the call can be considered a "dropped call", so you are not able to easily calculate the actual percent of dropped calls directly from the entire database of millions of calls. So, you decide to take a random sample of 2500 calls, and each call is classified as "dropped" or "not dropped". Of the 2500 calls examined, 1.462% of them were classified as "dropped". Calculate the appropriate test statistic. Enter with 2 decimals (eg. 1.96).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License