MATH IN OUR WORLD (LL) W/18 WEEKS ALEKS
4th Edition
ISBN: 9781266240829
Author: sobecki
Publisher: MCG CUSTOM
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Chapter 11.5, Problem 6E
What is meant by the term “outlier”? How can you decide if a data set has any outliers?
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Consider the grades for the math and history exams for 10 students on a scale from 0 to 12 in the following table.
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1
4
8
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9
3
7
9
4
12
10
5
10
8
6
8
5
7
9
6
8
9
6
9
11
9
10
7
10
Compute the Spearman correlation coefficient. Round your answer to three decimal places.
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1
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2
3 7
5 11
Give one nontrivial solution X of the homogeneous system Ax = 0. (Your
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To compare two elementary schools regarding teaching of reading skills, 12 sets of identical twins were used. In each case, one child was selected at random and sent to school A, and his or her twin was sent to school B. Near the end of fifth grade, an achievement test was given to each child. The results follow:
Twin Pair
1
2
3
4
5
6
School A
169
157
115
99
119
113
School B
123
157
112
99
121
122
Twin Pair
7
8
9
10
11
12
School A
120
121
124
145
138
117
School B
153
90
124
140
142
102
Suppose a sign test for matched pairs with a 1% level of significance is used to test the hypothesis that the schools have the same effectiveness in teaching reading skills against the alternate hypothesis that the schools have different levels of effectiveness in teaching reading skills. Let p denote portion of positive signs when the scores of school B are subtracted from the corresponding scores of school…
Chapter 11 Solutions
MATH IN OUR WORLD (LL) W/18 WEEKS ALEKS
Ch. 11.1 - A marketing firm is hired to study the occupants...Ch. 11.1 - A health-food store recorded the type of vitamin...Ch. 11.1 - In one math class, the data below represent the...Ch. 11.1 - Prob. 4TTOCh. 11.1 - Prob. 5TTOCh. 11.1 - What are data?Ch. 11.1 - Define statistics.Ch. 11.1 - Explain the difference between a population and a...Ch. 11.1 - How is a random sample selected?Ch. 11.1 - How is a systematic sample selected?
Ch. 11.1 - How is a stratified sample selected?Ch. 11.1 - How is a cluster sample selected?Ch. 11.1 - Prob. 8ECh. 11.1 - Describe the difference between descriptive and...Ch. 11.1 - How do inductive and deductive reasoning play a...Ch. 11.1 - For Exercises 1116, classify each sample as...Ch. 11.1 - For Exercises 1116, classify each sample as...Ch. 11.1 - For Exercises 1116, classify each sample as...Ch. 11.1 - For Exercises 1116, classify each sample as...Ch. 11.1 - For Exercises 1116, classify each sample as...Ch. 11.1 - For Exercises 1116, classify each sample as...Ch. 11.1 - In Exercises 1722, decide if you think the method...Ch. 11.1 - In Exercises 172, decide if you think the method...Ch. 11.1 - In Exercises 1722, decide if you think the method...Ch. 11.1 - In Exercises 1722, decide if you think the method...Ch. 11.1 - In Exercises 1722, decide if you think the method...Ch. 11.1 - In Exercises 1722, decide if you think the method...Ch. 11.1 - At a college financial aid office students who...Ch. 11.1 - A questionnaire about how students primarily get...Ch. 11.1 - Twenty-five fans of reality TV were asked to rate...Ch. 11.1 - A small independent developer of apps for...Ch. 11.1 - The ages of the signers of the Declaration of...Ch. 11.1 - The percentage of traffic fatalities in which at...Ch. 11.1 - Prob. 29ECh. 11.1 - The acreage (in thousands of acres) of the 39 U.S....Ch. 11.1 - Prob. 31ECh. 11.1 - 32. During the 1998 baseball season, Mark McGwire...Ch. 11.1 - Prob. 33ECh. 11.1 - Twenty-nine executives reported the number of...Ch. 11.1 - The National Insurance Crime Bureau reported that...Ch. 11.1 - Prob. 36ECh. 11.1 - The data shown represent the percentage of...Ch. 11.1 - Prob. 38ECh. 11.1 - Prob. 39ECh. 11.1 - Prob. 40ECh. 11.1 - For Exercises 3944, decide whether descriptive or...Ch. 11.1 - For Exercises 3944, decide whether descriptive or...Ch. 11.1 - For Exercises 3944, decide whether descriptive or...Ch. 11.1 - For Exercises 3944, decide whether descriptive or...Ch. 11.1 - For Exercises 3944, decide whether descriptive or...Ch. 11.1 - Prob. 46ECh. 11.1 - In addition to the four basic sampling methods,...Ch. 11.1 - Prob. 52ECh. 11.1 - Prob. 53ECh. 11.1 - Prob. 54ECh. 11.2 - Prob. 1TTOCh. 11.2 - Prob. 2TTOCh. 11.2 - Prob. 3TTOCh. 11.2 - Prob. 4TTOCh. 11.2 - Prob. 5TTOCh. 11.2 - Prob. 6TTOCh. 11.2 - Describe how to draw a bar graph and a pie chart...Ch. 11.2 - Explain why bar graphs and pie charts are...Ch. 11.2 - Prob. 3ECh. 11.2 - Prob. 4ECh. 11.2 - Prob. 5ECh. 11.2 - How are histograms and frequency polygons similar?...Ch. 11.2 - Prob. 7ECh. 11.2 - Describe the purpose of a time series graph.Ch. 11.2 - Prob. 9ECh. 11.2 - The data below show the number of students...Ch. 11.2 - 11. Draw a bar graph for the number of registered...Ch. 11.2 - Prob. 12ECh. 11.2 - The number of students at one campus who had a 4.0...Ch. 11.2 - In an insurance company study of the causes of...Ch. 11.2 - In a survey of 100 college students, the numbers...Ch. 11.2 - Prob. 16ECh. 11.2 - For 108 randomly selected college applicants, the...Ch. 11.2 - Prob. 18ECh. 11.2 - Prob. 19ECh. 11.2 - Prob. 20ECh. 11.2 - Prob. 21ECh. 11.2 - Prob. 22ECh. 11.2 - Prob. 23ECh. 11.2 - Prob. 24ECh. 11.2 - Prob. 25ECh. 11.2 - Prob. 26ECh. 11.2 - The number of employed registered nurses tin...Ch. 11.2 - Prob. 28ECh. 11.2 - Prob. 29ECh. 11.2 - Prob. 30ECh. 11.2 - Prob. 31ECh. 11.2 - Prob. 32ECh. 11.2 - Prob. 33ECh. 11.2 - Prob. 34ECh. 11.2 - Prob. 35ECh. 11.2 - Prob. 36ECh. 11.2 - Prob. 37ECh. 11.2 - Prob. 38ECh. 11.2 - Prob. 39ECh. 11.2 - Prob. 40ECh. 11.2 - Prob. 41ECh. 11.2 - 42. If you’re going to compare data sets by...Ch. 11.2 - Prob. 43ECh. 11.2 - Prob. 44ECh. 11.2 - Prob. 45ECh. 11.2 - Make up your own frequency polygon problem: using...Ch. 11.3 - Try This One 1
The total areas, in thousands of...Ch. 11.3 - Prob. 2TTOCh. 11.3 - Prob. 3TTOCh. 11.3 - Prob. 4TTOCh. 11.3 - Prob. 5TTOCh. 11.3 - Prob. 6TTOCh. 11.3 - Prob. 7TTOCh. 11.3 - Try This One 8
For the land area of the top 15...Ch. 11.3 - Prob. 1ECh. 11.3 - Prob. 2ECh. 11.3 - Prob. 3ECh. 11.3 - Prob. 4ECh. 11.3 - Prob. 5ECh. 11.3 - Which of the measures of average can be used to...Ch. 11.3 - In Questions 710, describe some strengths and...Ch. 11.3 - In Questions 710, describe some strengths and...Ch. 11.3 - In Questions 710, describe some strengths and...Ch. 11.3 - In Questions 710, describe some strengths and...Ch. 11.3 - Prob. 11ECh. 11.3 - For Exercises 1122, find the mean, median, mode,...Ch. 11.3 - For Exercises 1122, find the mean, median, mode,...Ch. 11.3 - For Exercises 11–22, find the mean, median, mode,...Ch. 11.3 - For Exercises 1122, find the mean, median, mode,...Ch. 11.3 - Prob. 16ECh. 11.3 - For Exercises 1122, find the mean, median, mode,...Ch. 11.3 - Prob. 18ECh. 11.3 - Prob. 19ECh. 11.3 - Prob. 20ECh. 11.3 - Prob. 21ECh. 11.3 - Prob. 22ECh. 11.3 - For Exercises 2330, find the mean of the data set....Ch. 11.3 - For Exercises 2330, find the mean of the data set....Ch. 11.3 - For Exercises 2330, find the mean of the data set....Ch. 11.3 - Prob. 26ECh. 11.3 - For Exercises 2330, find the mean of the data set....Ch. 11.3 - Prob. 28ECh. 11.3 - For Exercises 2330, find the mean of the data set....Ch. 11.3 - For Exercises 2330, find the mean of the data set....Ch. 11.3 - Prob. 31ECh. 11.3 - Prob. 32ECh. 11.3 - For Exercises 3338, describe which measure of...Ch. 11.3 - For Exercises 3338, describe which measure of...Ch. 11.3 - For Exercises 3338, describe which measure of...Ch. 11.3 - For Exercises 3338, describe which measure of...Ch. 11.3 - For Exercises 3338, describe which measure of...Ch. 11.3 - For Exercises 3338, describe which measure of...Ch. 11.3 - Prob. 39ECh. 11.3 - Exercises 39 and 40 refer back to Exercise 24. The...Ch. 11.3 - Prob. 41ECh. 11.3 - Prob. 42ECh. 11.3 - 43. In Exercise 26, we calculated the mean life...Ch. 11.3 - Prob. 44ECh. 11.3 - Prob. 45ECh. 11.3 - Prob. 46ECh. 11.3 - Prob. 47ECh. 11.3 - Prob. 48ECh. 11.3 - Prob. 49ECh. 11.4 - Prob. 1TTOCh. 11.4 - Prob. 2TTOCh. 11.4 - Prob. 3TTOCh. 11.4 - Prob. 4TTOCh. 11.4 - Name three measures of variation.Ch. 11.4 - What is the range?Ch. 11.4 - Why is the range not usually the best measure...Ch. 11.4 - Prob. 4ECh. 11.4 - Prob. 5ECh. 11.4 - Prob. 6ECh. 11.4 - For Exercises 710, discuss the relative sizes of...Ch. 11.4 - Prob. 8ECh. 11.4 - For Exercises 710, discuss the relative sizes of...Ch. 11.4 - Prob. 10ECh. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - Prob. 19ECh. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - Prob. 21ECh. 11.4 - For Exercises 1126, find the range, variance, and...Ch. 11.4 - Prob. 23ECh. 11.4 - Prob. 24ECh. 11.4 - Prob. 25ECh. 11.4 - Prob. 26ECh. 11.4 - The three data sets have the same mean and range,...Ch. 11.4 - Prob. 28ECh. 11.4 - Prob. 33ECh. 11.4 - Prob. 34ECh. 11.4 - Prob. 35ECh. 11.5 - The weights in pounds for the 12 members of a...Ch. 11.5 - Prob. 2TTOCh. 11.5 - Prob. 3TTOCh. 11.5 - Prob. 4TTOCh. 11.5 - Prob. 5TTOCh. 11.5 - If your score in your math class puts you in the...Ch. 11.5 - Does a score in the 90th percentile mean that you...Ch. 11.5 - Explain what quartiles are.Ch. 11.5 - Prob. 4ECh. 11.5 - What does the portion inside the box in a box plot...Ch. 11.5 - What is meant by the term outlier? How can you...Ch. 11.5 - The scores for 20 students on a 50-point math test...Ch. 11.5 - The heights (in inches) of the 12 students in a...Ch. 11.5 - In a class of 500 students, Carvetas rank was 125....Ch. 11.5 - In a class of 400 students, Johns rank was 80....Ch. 11.5 - In a charity marathon to raise money for AIDS...Ch. 11.5 - Prob. 12ECh. 11.5 - On an exam, Angela scored in the 20th percentile....Ch. 11.5 - Out of 600 applicants to a graduate program at an...Ch. 11.5 - Eldrick finished at the 77th percentile of a mens...Ch. 11.5 - Tinas application for a nursing position is ranked...Ch. 11.5 - Leas percentile rank on an exam in a class of 600...Ch. 11.5 - In an English class of 30 students, Audrelias...Ch. 11.5 - The Bowling Green State University mens basketball...Ch. 11.5 - Prob. 20ECh. 11.5 - In an evening statistics class, the ages of 20...Ch. 11.5 - Twenty subjects in a psychology class experiment...Ch. 11.5 - For Exercises 2328, find the values for Q1, Q2,...Ch. 11.5 - For Exercises 2328, find the values for Q1, Q2,...Ch. 11.5 - For Exercises 2328, find the values for Q1, Q2,...Ch. 11.5 - Prob. 26ECh. 11.5 - For Exercises 2328, find the values for Q1, Q2,...Ch. 11.5 - Prob. 28ECh. 11.5 - Prob. 29ECh. 11.5 - Prob. 30ECh. 11.5 - In Problems 2932, draw a box plot for the data,...Ch. 11.5 - Prob. 32ECh. 11.5 - Is it possible to score 90% on a test and have a...Ch. 11.5 - Prob. 34ECh. 11.5 - Prob. 35ECh. 11.5 - Prob. 36ECh. 11.5 - Prob. 37ECh. 11.5 - Prob. 38ECh. 11.5 - Prob. 39ECh. 11.5 - 40. What is unusual about the score at the 80th...Ch. 11.5 - 41. How many scores are lower than the score you...Ch. 11.5 - Prob. 43ECh. 11.6 - Prob. 1TTOCh. 11.6 - A standard test of intelligence is scaled so that...Ch. 11.6 - Prob. 3TTOCh. 11.6 - Prob. 4TTOCh. 11.6 - Find the area under the standard normal...Ch. 11.6 - Find the area under the standard normal...Ch. 11.6 - Prob. 7TTOCh. 11.6 - What is the distinguishing characteristic of a...Ch. 11.6 - Prob. 2ECh. 11.6 - What does the area under a portion of a normal...Ch. 11.6 - Explain what the empirical rule says.Ch. 11.6 - What percentage of the area under a normal curve...Ch. 11.6 - Why does it make sense that the total area under a...Ch. 11.6 - Prob. 7ECh. 11.6 - Prob. 8ECh. 11.6 - Prob. 9ECh. 11.6 - Prob. 10ECh. 11.6 - Prob. 11ECh. 11.6 - Prob. 12ECh. 11.6 - For Exercises 1116, the data set described is...Ch. 11.6 - Prob. 14ECh. 11.6 - For Exercises 1116, the data set described is...Ch. 11.6 - Prob. 16ECh. 11.6 - For Exercises 1116, the data set described is...Ch. 11.6 - Prob. 18ECh. 11.6 - Prob. 19ECh. 11.6 - For Exercises 19–24, find the z score for the...Ch. 11.6 - Prob. 21ECh. 11.6 - Prob. 22ECh. 11.6 - Prob. 23ECh. 11.6 - Prob. 24ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 26ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 28ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 30ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 32ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 34ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 36ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 38ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 40ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 42ECh. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - For Exercises 1738, find the area under the...Ch. 11.6 - Prob. 46ECh. 11.6 - As we know from Chapter 11, the probability of an...Ch. 11.6 - As we know from Chapter 11, the probability of an...Ch. 11.6 - As we know from Chapter 11, the probability of an...Ch. 11.6 - As we know from Chapter 11, the probability of an...Ch. 11.6 - Prob. 51ECh. 11.6 - Prob. 52ECh. 11.6 - Prob. 53ECh. 11.6 - Prob. 54ECh. 11.6 - Prob. 55ECh. 11.6 - Prob. 56ECh. 11.6 - Find two z values, one positive and one negative...Ch. 11.7 - Based on data compiled by the World Health...Ch. 11.7 - Prob. 2TTOCh. 11.7 - The mean for a reading test given nationwide is...Ch. 11.7 - The ages of 33 randomly selected inmates at a...Ch. 11.7 - Explain why the normal distribution can be used to...Ch. 11.7 - Given a data set, how could you decide if the...Ch. 11.7 - Describe the connection between area under a...Ch. 11.7 - Prob. 4ECh. 11.7 - Prob. 5ECh. 11.7 - Prob. 6ECh. 11.7 - Prob. 7ECh. 11.7 - Average sales for an online textbook distributor...Ch. 11.7 - A survey found that people keep their televisions...Ch. 11.7 - The average age of CEOs is 56 years. Assume the...Ch. 11.7 - Prob. 11ECh. 11.7 - Prob. 12ECh. 11.7 - The average amount of snow per season in Trafford...Ch. 11.7 - The average waiting time for a drive-in window at...Ch. 11.7 - The average time it takes college freshmen to...Ch. 11.7 - A brisk walk at 4 miles per hour burns an average...Ch. 11.7 - During September, the average temperature of...Ch. 11.7 - If the systolic blood pressure for a certain group...Ch. 11.7 - An IQ test has a mean of 100 and a standard...Ch. 11.7 - Prob. 20ECh. 11.7 - Prob. 21ECh. 11.7 - The average price of Stephen King paperbacks sold...Ch. 11.7 - Refer to Exercise 5. If your buddy Earl gets a job...Ch. 11.7 - Refer to Exercise 9. If you buy a TV for your dorm...Ch. 11.7 - Prob. 25ECh. 11.7 - Prob. 26ECh. 11.7 - In Problems 2730, (a) construct a histogram for...Ch. 11.7 - In Problems 2730, (a) construct a histogram for...Ch. 11.7 - In Problems 2730, (a) construct a histogram for...Ch. 11.7 - In Problems 2730, (a) construct a histogram for...Ch. 11.7 - Discuss whether or not you think each of the given...Ch. 11.7 - The number of incoming students at two campuses of...Ch. 11.7 - If a distribution of raw scores were plotted and...Ch. 11.7 - A researcher who is in charge of an educational...Ch. 11.7 - Prob. 37ECh. 11.7 - Prob. 38ECh. 11.7 - Prob. 39ECh. 11.7 - Prob. 40ECh. 11.8 - Try This One 1
Do you think there should be a...Ch. 11.8 - Prob. 2TTOCh. 11.8 - Prob. 3TTOCh. 11.8 - Prob. 4TTOCh. 11.8 - Prob. 5TTOCh. 11.8 - Prob. 6TTOCh. 11.8 - Describe what a scatter plot is and how one is...Ch. 11.8 - Explain what is meant when two variables are...Ch. 11.8 - Explain what is meant when two variables are...Ch. 11.8 - Prob. 4ECh. 11.8 - Prob. 5ECh. 11.8 - Prob. 6ECh. 11.8 - Describe the key difference between correlation...Ch. 11.8 - Prob. 8ECh. 11.8 - Prob. 9ECh. 11.8 - Prob. 10ECh. 11.8 - For the data sets in Exercises 1118, (a)Draw a...Ch. 11.8 - Prob. 12ECh. 11.8 - For the data sets in Exercises 1118, (a)Draw a...Ch. 11.8 - Prob. 14ECh. 11.8 - For the data sets in Exercises 1118, (a)Draw a...Ch. 11.8 - Prob. 16ECh. 11.8 - Prob. 17ECh. 11.8 - Prob. 18ECh. 11.8 - For the data sets in Exercises 1926, (a) Draw a...Ch. 11.8 - Prob. 20ECh. 11.8 - For the data sets in Exercises 1926, (a)Draw a...Ch. 11.8 - For the data sets in Exercises 1926, (a)Draw a...Ch. 11.8 - For the data sets in Exercises 1926, (a)Draw a...Ch. 11.8 - Prob. 24ECh. 11.8 - Prob. 25ECh. 11.8 - For the data sets in Exercises 1926, (a)Draw a...Ch. 11.8 - Prob. 27ECh. 11.8 - Prob. 28ECh. 11.8 - Prob. 29ECh. 11.8 - Design your own correlation problem. Think of two...Ch. 11.8 - Prob. 31ECh. 11.8 - Prob. 32ECh. 11.8 - Prob. 33ECh. 11.8 - Prob. 34ECh. 11.8 - Prob. 35ECh. 11.8 - Prob. 36ECh. 11.8 - Prob. 37ECh. 11.8 - Prob. 38ECh. 11.8 - Prob. 39ECh. 11.8 - Prob. 40ECh. 11 - A sporting goods store kept a record of sales of...Ch. 11 - The data set shown below represents the time in...Ch. 11 - During June, a local theater company recorded the...Ch. 11 - Construct a bar graph for the number of homicides...Ch. 11 - Draw a pie chart for the data in Exercies 4....Ch. 11 - Draw a histogram and frequency polygon for the...Ch. 11 - Prob. 7RECh. 11 - The data below are the number of U.S. citizens (in...Ch. 11 - Twelve batteries were tested to see how many hours...Ch. 11 - In your own words, explain the difference between...Ch. 11 - The data below are the number of beds at the eight...Ch. 11 - Which data set do you think would have a greater...Ch. 11 - For the census data in Problem 8, (a)Find the...Ch. 11 - Find the quartiles for the data in Problem 8, then...Ch. 11 - Find the area under the standard normal...Ch. 11 - A doctor has treated 45 male patients this week....Ch. 11 - For a data set with 90 values that is normally...Ch. 11 - Prob. 18RECh. 11 - Prob. 19RECh. 11 - Prob. 20RECh. 11 - Prob. 21RECh. 11 - The average weight of an airline passengers...Ch. 11 - The average cost of Cheetah brand running shoes is...Ch. 11 - Prob. 24RECh. 11 - A study is done to see whether there is a...Ch. 11 - Prob. 26RECh. 11 - Prob. 1CTCh. 11 - Prob. 2CTCh. 11 - Prob. 3CTCh. 11 - Prob. 4CTCh. 11 - Prob. 5CTCh. 11 - Prob. 6CTCh. 11 - These temperatures were recorded in Pasadena for a...Ch. 11 - Prob. 8CTCh. 11 - Prob. 9CTCh. 11 - Prob. 10CTCh. 11 - A major brand of potato chips sells its product in...Ch. 11 - A study is conducted to determine the relationship...
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- Sand and clay studies were conducted at a site in California. Twelve consecutive depths, each about 15 cm deep, were studied and the following percentages of sand in the soil were recorded. 34.4 27.1 30.8 28.0 32.2 27.6 32.8 25.2 31.4 33.5 24.7 28.4 Converting this sequence of numbers to a sequence of symbols A and B, where A indicates a value above the median and B denotes a value below the median gives ABABABABAABB. Test the sequence for randomness about the median with a 5% level of significance. Verify that the number of runs is 10. What is the upper critical value c2?arrow_forward29% of all college students major in STEM (Science, Technology, Engineering, and Math). If 46 college students are randomly selected, find the probability thata. Exactly 11 of them major in STEM. b. At most 12 of them major in STEM. c. At least 11 of them major in STEM. d. Between 11 and 15 (including 11 and 15) of them major in STEM.arrow_forwardSand and clay studies were conducted at a site in California. Twelve consecutive depths, each about 15 cm deep, were studied and the following percentages of sand in the soil were recorded. 27.3 34.6 30.6 27.8 33.4 31.5 27.3 31.2 32.0 24.7 24.4 28.2 Test this sequence for randomness about the median. Converting this sequence of numbers to a sequence of symbols A and B, where A indicates a value above the median and B denotes a value below the median gives BAABAABAABBB. Verify that the number of runs is 7, the lower critical number is 3, and the upper critical number is 11. Use a 5% level of significance. State the conclusion of the test and interpret your results.arrow_forward
- 29% of all college students major in STEM (Science, Technology, Engineering, and Math). If 46 college students are randomly selected, find the probability thata. Exactly 11 of them major in STEM. b. At most 12 of them major in STEM. c. At least 11 of them major in STEM. d. Between 11 and 15 (including 11 and 15) of them major in STEM.arrow_forward4. Assume that a risk-free money market account is added to the market described in Q3. The continuously compounded rate of return on the money market account is log (1.1). (i) For each given μ, use Lagrange multipliers to determine the proportions (as a function of μ) of wealth invested in the three assets available for the minimum variance portfolio with expected return μ. (ii) Determine the market portfolio in this market and calculate its Sharp ratio.arrow_forward3. A market consists of two risky assets with rates of return R₁ and R2 and no risk-free asset. From market data the following have been estimated: ER₁ = 0.25, ER2 = 0.05, Var R₁ = 0.01, Var R2 = 0.04 and the correlation between R1 and R2 is p = -0.75. (i) Given that an investor is targeting a total expected return of μ = 0.2. What portfolio weights should they choose to meet this goal with minimum portfolio variance? Correct all your calculations up to 4 decimal points. (ii) Determine the global minimum-variance portfolio and the expected return and variance of return of this portfolio (4 d.p.). (iii) Sketch the minimum-variance frontier in the μ-σ² plane and indicate the efficient frontier. (iv) Without further calculation, explain how the minimum variance of the investor's portfolio return will change if the two risky assets were independent.arrow_forward
- 2. A landlord is about to write a rental contract for a tenant which lasts T months. The landlord first decides the length T > 0 (need not be an integer) of the contract, the tenant then signs it and pays an initial handling fee of £100 before moving in. The landlord collects the total amount of rent erT at the end of the contract at a continuously compounded rate r> 0, but the contract stipulates that the tenant may leave before T, in which case the landlord only collects the total rent up until the tenant's departure time 7. Assume that 7 is exponentially distributed with rate > 0, λ‡r. (i) Calculate the expected total payment EW the landlord will receive in terms of T. (ii) Assume that the landlord has logarithmic utility U(w) = log(w - 100) and decides that the rental rate r should depend on the contract length T by r(T) = λ √T 1 For each given λ, what T (as a function of X) should the landlord choose so as to maximise their expected utility? Justify your answer. Hint. It might be…arrow_forwardPlease solving problem2 Problem1 We consider a two-period binomial model with the following properties: each period lastsone (1) year and the current stock price is S0 = 4. On each period, the stock price doubleswhen it moves up and is reduced by half when it moves down. The annual interest rateon the money market is 25%. (This model is the same as in Prob. 1 of HW#2).We consider four options on this market: A European call option with maturity T = 2 years and strike price K = 5; A European put option with maturity T = 2 years and strike price K = 5; An American call option with maturity T = 2 years and strike price K = 5; An American put option with maturity T = 2 years and strike price K = 5.(a) Find the price at time 0 of both European options.(b) Find the price at time 0 of both American options. Compare your results with (a)and comment.(c) For each of the American options, describe the optimal exercising strategy.arrow_forwardPlease ensure that all parts of the question are answered thoroughly and clearly. Include a diagram to help explain answers. Make sure the explanation is easy to follow. Would appreciate work done written on paper. Thank you.arrow_forward
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