Concept explainers
One of the variables most often included in surveys is income. Sometimes the question is phrased “what is your income (in thousands of dollars)?� in other surveys the respondent is asked to “Select the circle corresponding to your income level� and is given a number of income
a. In the first format, explain why income might be considered either discrete or continuous.
b. Which of these two formats would you prefer to use if you were conducting a survey? Why?
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Basic Business Statistics, Student Value Edition (13th Edition)
Additional Math Textbook Solutions
Statistics for Business and Economics (13th Edition)
Elementary Statistics
Statistics: Informed Decisions Using Data (5th Edition)
Statistics: The Art and Science of Learning from Data (4th Edition)
Elementary Statistics Using The Ti-83/84 Plus Calculator, Books A La Carte Edition (5th Edition)
- Mortgage Rates The following table is taken from the website of Freddie Mac. It shows rates for 30-year fixed-rate mortgages since 1970. y=Year r=Mortgagerate 1975 9.05 1980 13.74 1985 12.43 1990 10.13 1995 7.93 2000 8.05 2005 5.87 2010 4.69 2015 3.84 a. Explain in practical terms the meaning of r(2003). b. Use the table to estimate the value of r(2003).arrow_forwardPlEase don't do handwritten and explain the concept please, i will definitely like... if you cant do all parts skip please.arrow_forwardusing the picture included to answer Besides a bar chart, what would be another appropriate graph to display this data set?arrow_forward
- The director of an alumni association for a small college wants to determine whether there is any type of relationship between the amount of an alumnus’s contribution (in dollars) and the years the alumnus has been out of school. The data follow. What is the value of r? Years x 1 5 3 10 7 6 Contribution y 500 100 300 50 75 80arrow_forwardEthan and Drew went on a 10-day fishing trip. The number of smallmouth bass caught and released by the two boys each day is shown in the accompanying data table. Find the population mean and the range for the number of smallmouth bass caught per day by each fisherman. Do these values indicate any differences between the two fishermen's catches per day? Question 1 The range for the number of smallmouth bass caught per day by Ethan is? (Type an integer or a decimal. Do not round.) The population mean for the number of smallmouth bass caught per day by Ethan is (Simplify your answer.) The range for the number of smallmouth bass caught per day by Drew is? The population mean for the number of smallmouth bass caught per day by Drew is (Simplify your answer.) Do these values indicate any differences between the two fishermen's catches per day? Question 2 Draw a dot plot for Ethan. Draw a dot plot for Drew. Which fisherman seems more consistent? Question 3…arrow_forwardCreate a line graph of the data using Excel. For how many of the years was the deficit greater than or equal to $320 million?arrow_forward
- How to interpret scatterplots Positive, Negative, or little or No Relationship?arrow_forwardWhich of the following statements accurately describes the relationship shown in the scatterplot? One statistic used to measure a country's wealth is its gross domestic product (GDP). A higher GDP indicates greater wealth in the country. A researcher There is little relationship between GDP and life compared the GDP per person for 12 countries with the life expectancy of that country. The data for the 12 countries are shown in the scatterplot. The value of r for the scatterplot is 0.608. expectancy. O Countries with lower GDPS tend to have higher life expectancies. O Countries with higher GDPS tend to have lower life expectancies. Country Wealth O Countries with higher GDPS tend to have higher 90 life expectancies. 80 70 60 50 40 10 20 30 40 50 Save and Exit Next Submit Mark this and return rch hp ... Life Expectancy (Years)arrow_forwardCould you show me how to work this problem: The no plot shows salaries for construction workers and teachers. If a person is making the median salary for a construction worker, they are making more than what percentage of teachers?arrow_forward
- What would be a suitable chart type to show the proportions of the sales by products?arrow_forwardA+ F3 # F a. What are the relative and absolute changes in the Charlie Card bus fare? You don't have to do this in your head, without a calculator, but you should be able to. b. Create a spreadsheet for these data, with eight rows (one for each of the eight categories) and three columns, for the category name, the existing fare and the proposed fare. Create a properly labeled bar graph to display the data. c. Label the next two columns appropriately to hold the relative and absolute changes. Fill those columns with Excel formulas to compute the correct values. Do not compute the values elsewhere and enter them in the spreadsheet as numbers. [See the back of the book for a hint.] F4 4 d. Imagine that you are addressing a public meeting about these fare increases. How would you argue that an unfair burden is being placed on people who pay using a Charlie Ticket? How would you argue that senior citizens are most hard hit? 2 (6 14 13) 3 nts - The table below shows the salarestructure of…arrow_forwardHelp me fast so that I will give Upvote.arrow_forward
- Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALFunctions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningBig Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt