Introduction to Statistics and Data Analysis
5th Edition
ISBN: 9781305115347
Author: Roxy Peck; Chris Olsen; Jay L. Devore
Publisher: Brooks Cole
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 10, Problem 75CR
To determine
Check whether there is sufficient evidence to conclude that less than 40% of adults in Country U are aware that such an investment would result in a sum of over $100,000.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
3. What would be the yearly premium for a
$50,000 insurance policy against accidental
household
flood if the likelihood of an accidental household
flood is estimated to be 0.005 and the
company wishes to have a yearly expected gain of
$2000?
a. $2, 250.
b. $2,550.
c. $2,500.
d. $2,520.
4. A manufacturer of electronic equipment buys
spare parts for replacement and repairs in lots of
one-thousand from the supplier. The
manufacturer uses these spare parts to fix items
under
warrantee. Past historical records show that the
probability of any one spare part being
defective is unlikely and assumed to be one in
one-thousand. In a shipment of one-thousand
spare parts the probability of two defectives is
a. 0.148.
b. 0.184.
c. 0.366.
d. 0.386.
5. What is the probability of getting exactly three
heads in five flips of a balance coin?
a. 5/16
b. 3/16
c. 7/16
d. 9/16
According to a regional association of medical colleges, only
41%
of medical school applicants were admitted to a medical school in the fall of 2011. Upon hearing this, the trustees of Striving College expressed concern that only
88
of the
230
students in their class of 2011 who applied to medical school were admitted. The college president assured the trustees that this was just the kind of year-to-year fluctuation in fortunes that is to be expected and that, in fact, the school's success rate was consistent with the regional average. Complete parts a through c.
a) What are the hypotheses?
H0:
p
▼
greater than>
not equals≠
equals=
less than<
nothing
HA:
p
▼
equals=
not equals≠
less than<
greater than>
nothing
(Type integers or decimals.)
b) Check the conditions and find the P-value.
Which assumptions and conditions below are met? Select all that apply.
A.
The 10% condition is met.
B.
The randomization condition is…
According to a regional association of medical colleges, only 47% of medical school applicants were admitted to a medical school in the fall of 2011. Upon hearing this, the trustees of Striving College expressed concern that only 118 of the 260 students in their class of 2011 who applied to medical school were admitted. The college president assured the trustees that this was just the kind of year-to-year fluctuation in fortunes that is to be expected and that, in fact, the school's success rate was consistent with the regional average. Complete parts a through c.
a) What are the hypotheses?
H0: p
a. not equals≠
b. equals=
c. greater than>
d. less than<
HA: p
a. less than<
b. not equals≠
c. equals=
d. greater than>
b) Check the conditions and find the P-value.
Which assumptions and conditions below are met? Select all that apply.
A. The 10% condition is met.
B. The independence assumption is met.
C. The randomization condition is met.…
Chapter 10 Solutions
Introduction to Statistics and Data Analysis
Ch. 10.1 - Explain why the statement x=50 is not a legitimate...Ch. 10.1 - For the following pairs, indicate which do not...Ch. 10.1 - To determine whether the pipe welds in a nuclear...Ch. 10.1 - Prob. 4ECh. 10.1 - Prob. 5ECh. 10.1 - Prob. 6ECh. 10.1 - Prob. 7ECh. 10.1 - A researcher speculates that because of...Ch. 10.1 - A county commissioner must vote on a resolution...Ch. 10.1 - A cruise ship charges passengers 3 for a can of...
Ch. 10.1 - Prob. 11ECh. 10.2 - Prob. 12ECh. 10.2 - Prob. 13ECh. 10.2 - Medical personnel are required to report suspected...Ch. 10.2 - Prob. 15ECh. 10.2 - A television manufacturer claims that (at least)...Ch. 10.2 - A manufacturer of hand-held calculators receives...Ch. 10.2 - Water specimens are taken from water used for...Ch. 10.2 - Suppose that for a particular hypothesis test, the...Ch. 10.2 - Suppose that you arc an inspector for the Fish and...Ch. 10.2 - Prob. 21ECh. 10.2 - An automobile manufacturer is considering using...Ch. 10.3 - Use the definition of the P-value to explain the...Ch. 10.3 - For which of the following P-values will the null...Ch. 10.3 - Prob. 25ECh. 10.3 - Let p denote the proportion of students at a...Ch. 10.3 - Assuming a random sample from a large population,...Ch. 10.3 - Prob. 28ECh. 10.3 - In a survey of 1000 women age 22 to 35 who work...Ch. 10.3 - The paper Debt Literacy, Financial Experiences and...Ch. 10.3 - "Most Like it Hot" is the title of a press release...Ch. 10.3 - In a survey of 1005 adult Americans, 46% indicated...Ch. 10.3 - Prob. 33ECh. 10.3 - Prob. 34ECh. 10.3 - Prob. 35ECh. 10.3 - Prob. 36ECh. 10.3 - Prob. 37ECh. 10.3 - The article Cops Get Screened for Digital Dirt...Ch. 10.3 - Refer back to the previous exercise. The actual...Ch. 10.3 - The report 2007 Electronic Monitoring ...Ch. 10.3 - Prob. 41ECh. 10.4 - Prob. 42ECh. 10.4 - Give as much information as you can about the...Ch. 10.4 - Paint used to paint lines on roads must reflect...Ch. 10.4 - A certain pen has been designed so that actual...Ch. 10.4 - Prob. 46ECh. 10.4 - The paper Playing Active Video Games Increases...Ch. 10.4 - Prob. 48ECh. 10.4 - Prob. 49ECh. 10.4 - Prob. 50ECh. 10.4 - Prob. 51ECh. 10.4 - Medical research has shown that repeated wrist...Ch. 10.4 - Prob. 53ECh. 10.4 - A comprehensive study conducted by the National...Ch. 10.4 - Prob. 55ECh. 10.4 - The paper titled Music for Pain Relief (The...Ch. 10.4 - Many consumers pay careful attention to stated...Ch. 10.4 - Much concern has been expressed regarding the...Ch. 10.5 - The power of a test is influenced by the sample...Ch. 10.5 - Prob. 60ECh. 10.5 - Let denote the mean lifetime (in hours) for a...Ch. 10.5 - The city council in a large city has become...Ch. 10.5 - The amount of shaft wear after a fixed mileage was...Ch. 10.5 - Optical fibers are used in telecommunications to...Ch. 10.5 - Prob. 65ECh. 10.6 - In 2006, Boston Scientific sought approval for a...Ch. 10.6 - The article Boy or Girl: Which Gender Baby Would...Ch. 10 - Prob. 68CRCh. 10 - In a national survey of 2013 adults, 1590...Ch. 10 - Students at the Akademia Podlaka conducted an...Ch. 10 - Prob. 71CRCh. 10 - Prob. 72CRCh. 10 - A number of initiatives on the topic of legalized...Ch. 10 - Prob. 74CRCh. 10 - Prob. 75CRCh. 10 - Prob. 76CRCh. 10 - Prob. 77CRCh. 10 - Duck hunting in populated areas faces opposition...Ch. 10 - Past experience has indicated that the response...Ch. 10 - An automobile manufacturer who wishes to advertise...Ch. 10 - A student organization uses the proceeds from a...Ch. 10 - A hot tub manufacturer advertises that with its...Ch. 10 - Prob. 1CRECh. 10 - Prob. 2CRECh. 10 - Prob. 3CRECh. 10 - Prob. 4CRECh. 10 - Prob. 5CRECh. 10 - The article Should Canada Allow Direct-to-Consumer...Ch. 10 - Prob. 7CRECh. 10 - It probably wouldnt surprise you to know that...Ch. 10 - The article Doctors Cite Burnout in Mistakes (San...Ch. 10 - The National Geographic Society conducted a study...Ch. 10 - Heinz Plays Catch-up After Under-Filling Ketchup...Ch. 10 - In a survey conducted by Yahoo Small Business,...Ch. 10 - In an AP-AOL sports poll (Associated Press,...Ch. 10 - Prob. 14CRECh. 10 - A survey of teenagers and parents in Canada...Ch. 10 - The same survey referenced in the previous...
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
- The ABC Company is involved in the production and selling of consumer goods, particularly beauty products such as bath soap and shampoo and had registered a positive profit growth for the last 10 years. However, the current year seems to be different from those years as the company is expecting a decline in profit; which is estimated to be about 70% below the target. The manager now is in a dilemma … asking himself/herself “What happened, why this decline in profit?” The Manager then asked the company Accountant to give him/her the data on sales and advertising cost for the last 10 years – he/she wants these data to determine whether the company can live without advertising, as advertising cost happens to be substantial. Justify your answer by doing as step-by-step procedure in Correlation Analysis using a 0.05 level of significance. The data are as follows –arrow_forwardA sample of 20 financial analysts was asked to provide forecasts of earnings per share of a corporation for next year. The results are summarized in the following table:Forecast ($ per share) Number of Analysts$9.95 to under $10.45 2$10.45 to under $10.95 8$10.95 to under $11.45 6$11.45 to under $11.95 3$11.95 to under $12.45 1a. Estimate the sample mean forecast.b. Estimate the sample standard deviation.arrow_forwardYou decide to invest in stock in a particular type of company and set the guideline that you will only buy stock in companies that are ranked in the 80th percentile or above in terms of dividends paid in the previous year. You are looking at a company that ranked 7 out of 450 companies that paid dividends in 2019. a.Will this company qualifies for your portfolio? b.If you had the data on the total dividends paid by each of the 450 companies, which measure of average would be the most meaningful – mean, median, midrange, or mode? Explainarrow_forward
- The Springfield Daily Gazette has reported that the average salary for City of Springfield employees is $81,500. The Gazette is claiming that city employees’ salaries are too high, and many of the citizens (who pay the taxes to support the city) are upset. The city council has called a special meeting to discuss whether employee salaries should be cut by 10–15%. You have collected data on employee incomes for the city, as shown below. In a paragraph of at least five or six sentences, explain what the measures of central tendency and standard deviation tell about the income of city employees. Using this information, respond to city council members. Should employee salaries be reduced? Why or why not?City of Springfield Employee Income DataMean = $81,500Median = $35,000Mode = $35,000Standard Deviation = $147,367arrow_forwardThe 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.arrow_forward2. An article in Fortune (September 21, 1992) claimed that nearly one-half of all engineers continue academic studies beyond the B.S. degree, ultimately receiving either an M.S. or a Ph.D. degree. Data from an article in Engineering Horizons (Spring 1990) indicated that 117 of 484 new engineering graduates were planning graduate study. 2.1. Are the data from Engineering Horizons consistent with the claim reported by Fortune? Use a=0.05 in reaching your conclusions. Find the P-value for this test. 2.2. Discuss how you could have answered the question by constructing a two-sided confidence interval on p. Find the confidence interval.arrow_forward
- A FiveThirtyEight.com article reports that “Horror movies get nowhere near as much draw at the box office as the big-time summer blockbusters or action/adventure movies ... but there’s a huge incentive for studios to continue pushing them out. The return-on-investment potential for horror movies is absurd.” To investigate how the return-on-investment compares between genres and how this relationship has changed over time, an introductory statistics student fit a model predicting the ratio of gross revenue of movies from genre and release year for 1,070 movies released between 2000 and 2018. Using the plots given below, determine if this regression model is appropriate for these dataarrow_forwardAccording to the IRS, individuals filing federal income tax returns prior to March 31 received an average refund of $1056 in 2018. Consider the population of “last-minute” filers who mail their tax return during the last five days of the income tax period (typically April 10 to April 15). A researcher suggests that a reason individuals wait until the last five days is that on average these individuals receive lower refunds than do early filers. For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $910. Based on prior experience, a population standard deviation of σ = $1,600 may be assumed. Test the researcher's assertion using the critical value approach. Use α = 0.05 (Please include all the 7 steps in hypothesis testing) Steps in hypothesis testing p-value Approach Develop the null and alternative hypothesis Specify the level of significance, α Choose the test statistic (z or t) Calculate the test statistic Use the value of the…arrow_forwardBased on a USA Today poll, 10% of the population believes that college is no longer a good investment. Would it be unusual if 100 of the chosen people beleive that college is no longer a good investment? What does this result suggest?arrow_forward
- A newspaper headline claims: "Apple spends far less on Research & Development than any of its " Further into the story, the reporter writes that Apple spends a paltry 2% of revenues compared with 14% at Google and Microsoft. What is the mistaken assumption here? Why is that assumption incorrect? Is there a situation where the headline is still correct?arrow_forwardAre the following answers correct? Question: The American Association of Individual Investors (AAII) On-Line Discount Broker Survey polls members on their experiences with electronic trades handled by discount brokers. As part of the survey, members were asked to rate their satisfaction with the trade price and the speed of execution, as well as provide an overall satisfaction rating. Possible responses (scores) were no opinion (0), unsatisfied (1), somewhat satisfied (2), satisfied (3), and very satisfied (4). For each broker, summary scores were computed by computing a weighted average of the scores provided by each respondent. A portion the survey results follow (AAII web site, February 7, 2012). Brokerage Satisfaction withTrade Price Satisfaction withSpeed of Execution Overall Satisfaction withElectronic Trades Scottrade, Inc. 3.4 3.4 3.5 Charles Schwab 3.2 3.3 3.4 Fidelity Brokerage Services 3.1 3.4 3.9 TD Ameritrade 2.9 3.6 3.7 E*Trade Financial 2.9 3.2 2.9 (Not…arrow_forwardYou decide to invest in stock in a particular type of company and set the guideline thatyou will only buy stock in companies that are ranked in the 80th percentile or above interms of dividends paid in the previous year. You are looking at a company that ranked7 out of 450 companies that paid dividends in 2019. a. Will this company qualify for your portfolio? b. If you had the data on the total dividends paid by each of the 450 companies,what would the mean and the median each tell you and how would you computeeach measure?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 IncProbability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage LearningStatistics 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:PEARSONThe Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. FreemanIntroduction 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
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY