Practical Business Math Procedures with Business Math Handbook
12th Edition
ISBN: 9781259725067
Author: Jeffrey Slater, Sharon M. Wittry
Publisher: McGraw-Hill Education
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Chapter 1, Problem 5ECP
To determine
The sum of the numbers 6,251 and 7,329.
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2. [20] Let {X1,..., Xn} be a random sample from Ber(p), where p = (0, 1). Consider two
estimators of the parameter p:
1
p=X_and_p=
n+2
(x+1).
For each of p and p, find the bias and MSE.
1. [20] The joint PDF of RVs X and Y is given by
xe-(z+y), r>0, y > 0,
fx,y(x, y) =
0,
otherwise.
(a) Find P(0X≤1, 1
4. [20] Let {X1,..., X} be a random sample from a continuous distribution with PDF
f(x; 0) =
{ Axe 5
0,
x > 0,
otherwise.
where > 0 is an unknown parameter. Let {x1,...,xn} be an observed sample.
(a) Find the value of c in the PDF.
(b) Find the likelihood function of 0.
(c) Find the MLE, Ô, of 0.
(d) Find the bias and MSE of 0.
Chapter 1 Solutions
Practical Business Math Procedures with Business Math Handbook
Ch. 1.1 - Write in verbal form:
7,948
...Ch. 1.1 - Prob. 2PQCh. 1.1 - Kellogg’s reported its sales as five million, one...Ch. 1.1 - Write in verbal form:
8,682
...Ch. 1.1 - Prob. 2EPQCh. 1.1 - Kellogg’s reported its sales as three million, two...Ch. 1.1 - Express the following numbers in verbal...Ch. 1.1 - Write in numeric form:
Eighty thousand, two...Ch. 1.1 - Round the following numbers:
To the nearest...Ch. 1.1 - Round off each number to the nearest ten, nearest...
Ch. 1.1 - Name the place position (place value) of the...Ch. 1.1 - Gim Smith was shopping for an Apple computer. He...Ch. 1.1 - Amy Parker had to write a check at the bookstore...Ch. 1.1 - Matt Schaeffer was listening to the news and heard...Ch. 1.1 - Jackie Martin is the city clerk and must go to the...Ch. 1.1 - A government survey revealed that 25,963,400...Ch. 1.1 - Bob Donaldson wished to present his top student...Ch. 1.1 - Nancy Morrissey has a problem reading large...Ch. 1.2 - Add by totaling each separate column:
Ch. 1.2 - Estimate by rounding all the way (do not round the...Ch. 1.2 - Subtract and check your answer:
Ch. 1.2 - Jackson Manufacturing Company projected its year...Ch. 1.2 - Add by totaling each separate column:
Ch. 1.2 - Estimate by rounding all the way (do not round the...Ch. 1.2 - Subtract and check your answer:
Ch. 1.2 - Jackson Manufacturing Company projected its year...Ch. 1.2 - Add by totaling each separate column:
Ch. 1.2 - Prob. 2AHCh. 1.2 - Prob. 3AHCh. 1.2 - Subtract and check:
Ch. 1.2 - Prob. 5AHCh. 1.2 - Prob. 6AHCh. 1.2 - Prob. 7AHCh. 1.2 - Prob. 8AHCh. 1.2 - Prob. 9AHCh. 1.2 - Prob. 10AHCh. 1.2 - Prob. 11AHCh. 1.2 - Prob. 12AHCh. 1.2 - Prob. 13AHCh. 1.3 - Estimate the actual problem by rounding all the...Ch. 1.3 - Prob. 2PQCh. 1.3 - Prob. 3PQCh. 1.3 - Prob. 4PQCh. 1.3 - Prob. 5PQCh. 1.3 - Prob. 6PQCh. 1.3 - Prob. 1EPQCh. 1.3 - Prob. 2EPQCh. 1.3 - Prob. 3EPQCh. 1.3 - Prob. 4EPQCh. 1.3 - Prob. 5EPQCh. 1.3 - Prob. 6EPQCh. 1.3 - Prob. 1AHCh. 1.3 - Prob. 2AHCh. 1.3 - Prob. 3AHCh. 1.3 - Prob. 4AHCh. 1.3 - Prob. 5AHCh. 1.3 - Prob. 6AHCh. 1.3 - Prob. 7AHCh. 1.3 - Prob. 8AHCh. 1.3 - Prob. 9AHCh. 1.3 - Prob. 10AHCh. 1.3 - Prob. 11AHCh. 1.3 - Prob. 12AHCh. 1.3 - Ben Krenshaw’s supervisor at the construction site...Ch. 1 - Prob. 1ECPCh. 1 - Prob. 2ECPCh. 1 - Prob. 3ECPCh. 1 - Prob. 4ECPCh. 1 - Prob. 5ECPCh. 1 - Add the following: LU 1-2(1)
Ch. 1 - Prob. 7ECPCh. 1 - Prob. 8ECPCh. 1 - Prob. 9ECPCh. 1 - Prob. 10ECPCh. 1 - Prob. 11ECPCh. 1 - Prob. 12ECPCh. 1 - Prob. 13ECPCh. 1 - Multiply the following: LU 1-3(1)
Ch. 1 - Prob. 15ECPCh. 1 - Multiply the following: LU 1-3(1)
Ch. 1 - Multiply the following: LU 1-3(1)
Ch. 1 - Prob. 18ECPCh. 1 - Prob. 19ECPCh. 1 - Prob. 20ECPCh. 1 - Prob. 21ECPCh. 1 - Prob. 22ECPCh. 1 - Prob. 23ECPCh. 1 - Prob. 24ECPCh. 1 - Prob. 25ECPCh. 1 - Prob. 26ECPCh. 1 - Prob. 27ECPCh. 1 - Prob. 28ECPCh. 1 - Add the following and check by totaling each...Ch. 1 - Prob. 30ECPCh. 1 - Prob. 31ECPCh. 1 - Prob. 32ECPCh. 1 - Prob. 33ECPCh. 1 - Prob. 34ECPCh. 1 - Prob. 35ECPCh. 1 - Prob. 36ECPCh. 1 - Prob. 37ECPCh. 1 - Prob. 38ECPCh. 1 - Prob. 39ECPCh. 1 - Prob. 40ECPCh. 1 - Prob. 41ECPCh. 1 - Prob. 42ECPCh. 1 - Prob. 43ECPCh. 1 - Prob. 44ECPCh. 1 - Prob. 45ECPCh. 1 - Prob. 46ECPCh. 1 - Prob. 47ECPCh. 1 - Prob. 48ECPCh. 1 - Prob. 49ECPCh. 1 - Prob. 50ECPCh. 1 - Prob. 51ECPCh. 1 - Prob. 52ECPCh. 1 - Prob. 53ECPCh. 1 - Yahoo! Health reported in November 2014 that 6 out...Ch. 1 - Prob. 55ECPCh. 1 - Prob. 56ECPCh. 1 - Prob. 57ECPCh. 1 - Ron Alf, owner of Alf’s Moving Company, bought a...Ch. 1 - Prob. 59ECPCh. 1 - Prob. 60ECPCh. 1 - Prob. 61ECPCh. 1 - Prob. 62ECPCh. 1 - Prob. 63ECPCh. 1 - Prob. 64ECPCh. 1 - Prob. 65ECPCh. 1 - Prob. 66ECPCh. 1 - Roger Company produces beach balls and operates...Ch. 1 - Prob. 68ECPCh. 1 - Prob. 69ECPCh. 1 - Prob. 70ECPCh. 1 - Prob. 71ECPCh. 1 - Prob. 72ECPCh. 1 - Prob. 73ECPCh. 1 - Prob. 74ECPCh. 1 - Prob. 75ECPCh. 1 - Paula Sanchez is trying to determine her 2015...Ch. 1 - Prob. 1PTCh. 1 - Express the following number in verbal...Ch. 1 - Round the following numbers. LU 1-1(2)
Ch. 1 - Prob. 4PTCh. 1 - Prob. 5PTCh. 1 - Prob. 6PTCh. 1 - Prob. 7PTCh. 1 - Divide the following by the shortcut method. LU...Ch. 1 - Prob. 9PTCh. 1 - Sam Song plans to buy a $16,000 Ford Focus with an...Ch. 1 - Lester Hal has the oil tank at his business filled...
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- 3. [20] Let {X1,..., Xn} be a random sample from a binomial distribution Bin(30, p), where p (0, 1) is unknown. Let {x1,...,xn} be an observed sample. (a) Find the likelihood function of p. (b) Find the MLE, p, of p. (c) Find the bias and MSE of p.arrow_forwardGiven the sample space: ΩΞ = {a,b,c,d,e,f} and events: {a,b,e,f} A = {a, b, c, d}, B = {c, d, e, f}, and C = {a, b, e, f} For parts a-c: determine the outcomes in each of the provided sets. Use proper set notation. a. (ACB) C (AN (BUC) C) U (AN (BUC)) AC UBC UCC b. C. d. If the outcomes in 2 are equally likely, calculate P(AN BNC).arrow_forwardH-/ test the Series 1.12 7√2 by ratio best 2n 2-12- nz by vitio test enarrow_forward
- In Exercises 1-14, state whether each statement is true or false. If false, give a reason. 1. The set of stores located in the state of Wyoming is a well- defined set. 2. The set of the three best songs is a well-defined set. 3. maple = {oak, elm, maple, sycamore} 4{} cơ 5. {3, 6, 9, 12,...} and {2, 4, 6, 8, ...} are disjoint sets. 6. {Mercury, Venus, Earth, Mars} is an example of a set in roster form. 7. {candle, picture, lamp} = {picture, chair, lamp } 8. {apple, orange, banana, pear} is equivalent to {tomato, corn, spinach, radish}.arrow_forwardConsider a single-server queueing system that can hold a maximum of two customers excluding those being served. The server serves customers only in batches of two, and the service time (for a batch) has an exponential distribution with a mean of 1 unit of time. Thus if the server is idle and there is only one customer in the system, then the server must wait for another arrival before beginning service. The customers arrive according to a Poisson process at a mean rate of 1 per unit of time. (1). Draw the rate diagram. (Hint: think about how the state will change after one service completion.) (2). Set up the rate balance equations. (Hint: use the rate balance equations 1.) (3). Compute pn and L. (4). Compute the actual mean arrival rate Ā.arrow_forwardSuppose a sample of O-rings was obtained and the wall thickness (in inches) of each was recorded. Use a normal probability plot to assess whether the sample data could have come from a population that is normally distributed. Click here to view the table of critical values for normal probability plots. Click here to view page 1 of the standard normal distribution table. Click here to view page 2 of the standard normal distribution table. 0.191 0.186 0.201 0.2005 0.203 0.210 0.234 0.248 0.260 0.273 0.281 0.290 0.305 0.310 0.308 0.311 Using the correlation coefficient of the normal probability plot, is it reasonable to conclude that the population is normally distributed? Select the correct choice below and fill in the answer boxes within your choice. (Round to three decimal places as needed.) ○ A. Yes. The correlation between the expected z-scores and the observed data, , exceeds the critical value, . Therefore, it is reasonable to conclude that the data come from a normal population. ○…arrow_forward
- Hale / test the Series 1.12 7√2 2n by ratio best 2-12- nz by vico tio test en - プ n2 rook 31() by mood fest 4- E (^)" by root test Inn 5-E 3' b. E n n³ 2n by ratio test ٤ by Comera beon Test (n+2)!arrow_forwardding question ypothesis at a=0.01 and at a = 37. Consider the following hypotheses: 20 Ho: μ=12 HA: μ12 Find the p-value for this hypothesis test based on the following sample information. a. x=11; s= 3.2; n = 36 b. x = 13; s=3.2; n = 36 C. c. d. x = 11; s= 2.8; n=36 x = 11; s= 2.8; n = 49arrow_forward13. A pharmaceutical company has developed a new drug for depression. There is a concern, however, that the drug also raises the blood pressure of its users. A researcher wants to conduct a test to validate this claim. Would the manager of the pharmaceutical company be more concerned about a Type I error or a Type II error? Explain.arrow_forward
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