Fundamentals of Statistics (5th Edition)

5th Edition

ISBN: 9780134508306

Author: Michael Sullivan III

Publisher: PEARSON

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Textbook Question

Chapter 10.3, Problem 25AYU

Starbucks Stock The volume of a stock is the number of shares traded for a given day. In 2011, Starbucks stock had a mean daily volume of 7.52 million shares according to Yahoo!Finance. A random sample of 40 trading days in 2014 was obtained and the volume of shares traded on those days was recorded. Go to www.pearsonhighered.com/sullivanstats to obtain the data file 10_3_25 using the file format of your choice for the version of the text you are using.

a. Draw a histogram of the data. Describe the shape of the distribution.
b. Draw a boxplot of the data. Are there any outliers?
c. Based on the shape of the histogram and boxplot, explain why a large sample size is necessary to perform inference on the mean using the normal model.
d. Does the evidence suggest that the volume of Starbucks stock has changed since 2014? Use an α = 0.05 level of significance.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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Chapter 10.3, Problem 24AYU

Chapter 10.3, Problem 26AYU

Chapter 10 Solutions

Fundamentals of Statistics (5th Edition)

Ch. 10.1 - A _____ is a statement regarding a characteristic...Ch. 10.1 - _____ _____ is a procedure, based on sample...Ch. 10.1 - The _____ _____ is a statement of no change, no...Ch. 10.1 - The _____ _____ is a statement we are trying to...Ch. 10.1 - If we reject the null hypothesis when the...Ch. 10.1 - If we do not reject the null hypothesis when the...Ch. 10.1 - The _____ _____ _____ is the probability of making...Ch. 10.1 - True or False: Sample evidence can prove a null...Ch. 10.1 - In Problems 914, the null and alternative...Ch. 10.1 - In Problems 914, the null and alternative...

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Solution Summary: The author explains that the relative frequency histogram for the volume of Starbucks stocks is unimodel and right skewed.

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Chapter 10 Solutions