Marketing claims. A company claims that 60 % of the households in a given community use its product. A competitor surveys the community, using a random sample of 40 households, and finds only 15 households out of the 40 in the sample use the product. If the company’s claim is correct, what is the probability of 15 or fewer households using the product in a sample of 40 ? Conclusion? Approximate a binomial distribution with a normal distribution
Marketing claims. A company claims that 60 % of the households in a given community use its product. A competitor surveys the community, using a random sample of 40 households, and finds only 15 households out of the 40 in the sample use the product. If the company’s claim is correct, what is the probability of 15 or fewer households using the product in a sample of 40 ? Conclusion? Approximate a binomial distribution with a normal distribution
Solution Summary: The author calculates the probability that 15 or fewer households use the product in a sample of 40 households.
Marketing claims. A company claims that
60
%
of the households in a given community use its product. A competitor surveys the community, using a random sample of
40
households, and finds only
15
households out of the 40 in the sample use the product. If the company’s claim is correct, what is the probability of
15
or fewer households using the product in a sample of
40
? Conclusion? Approximate a binomial distribution with a normal distribution
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.
Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the range, interquartile range, variance, and standard deviation (to a maximum of 2 decimals, if decimals are necessary).
Range
Interquartile range
Variance
Standard deviation
Could you explain this using the formula I attached and polar coorindates
1: Stanley Smothers receives tips from customers as a standard component of his weekly pay. He was paid $5.10/hour by his employer and received $305 in tips during the
most recent 41-hour workweek.
Gross Pay = $
2: Arnold Weiner receives tips from customers as a standard component of his weekly pay. He was paid $4.40/hour by his employer and received $188 in tips during the
most recent 47-hour workweek.
Gross Pay = $
3: Katherine Shaw receives tips from customers as a standard component of her weekly pay. She was paid $2.20/hour by her employer and received $553 in tips during the
most recent 56-hour workweek.
Gross Pay = $
4: Tracey Houseman receives tips from customers as a standard component of her weekly pay. She was paid $3.90/hour by her employer and received $472 in tips during
the most recent 45-hour workweek.
Gross Pay = $
Chapter 10 Solutions
Finite Mathematics for Business, Economics, Life Sciences and Social Sciences
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