Introductory Statistics
3rd Edition
ISBN: 9780135188927
Author: Gould, Robert, Ryan, Colleen N. (colleen Nooter)
Publisher: Pearson,
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Chapter 14, Problem 26SE
Used BMWs A used-car dealer is purchasing 50 used BMWs from one dealer in order to sell them for a profit. Working with collected data, the dealer has found a regression model to predict the selling price on the basis of the car’s age. He wants to predict the total amount he will get for these 50 cars in order to make sure he does not lose money. All 50 cars are three years old (they were turned in after their leases expired). Should he use a confidence interval or a prediction interval for the
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Students have asked these similar questions
A well-known company predominantly makes flat pack furniture for students. Variability with the automated machinery means the wood components are cut with a standard deviation in length of 0.45 mm. After they are cut the components are measured. If their length is more than 1.2 mm from the required length, the components are rejected.
a) Calculate the percentage of components that get rejected.
b) In a manufacturing run of 1000 units, how many are expected to be rejected?
c) The company wishes to install more accurate equipment in order to reduce the rejection rate by one-half, using the same ±1.2mm rejection criterion. Calculate the maximum acceptable standard deviation of the new process.
5. Let X and Y be independent random variables and let the superscripts denote
symmetrization (recall Sect. 3.6). Show that
(X + Y) X+ys.
8. Suppose that the moments of the random variable X are constant, that is, suppose
that EX" =c for all n ≥ 1, for some constant c. Find the distribution of X.
Chapter 14 Solutions
Introductory Statistics
Ch. 14 - Predicting Test Scores A professor tells his class...Ch. 14 - Used-Car Values A student wishes to buy a used...Ch. 14 - Height and Age (Example 1) A doctor says he can...Ch. 14 - Units and Semesters The registrar at a small...Ch. 14 - Prob. 5SECh. 14 - Prob. 6SECh. 14 - Prob. 7SECh. 14 - Prob. 8SECh. 14 - Semesters and Credits (Example 4) Figure A shows a...Ch. 14 - Prob. 10SE
Ch. 14 - Salaries Figure A shows a scatterplot of the...Ch. 14 - Prob. 12SECh. 14 - Wages of Twins Figure A shows a scatterplot of...Ch. 14 - Simulated Data Figure A shows a scatterplot of...Ch. 14 - Prob. 15SECh. 14 - Movie Budgets Do movies with bigger budgets tend...Ch. 14 - Education of Parents (Example 7) Each of 29...Ch. 14 - Education of Parents Refer to exercise 14.17 and...Ch. 14 - Student and Parent Heights A random sample of 29...Ch. 14 - Trash The weight of trash (in pounds) produced by...Ch. 14 - Prob. 21SECh. 14 - Prob. 22SECh. 14 - Trash and Confidence Intervals The output provided...Ch. 14 - Movie Budgets In exercise 14.16 you examined the...Ch. 14 - Predicted GPA A student who has been accepted by...Ch. 14 - Used BMWs A used-car dealer is purchasing 50 used...Ch. 14 - Predicted Height (Example 9) A mother wants to...Ch. 14 - Predicted GPA A dean of students at a college...Ch. 14 - Loggers A logging company has the diameter of each...Ch. 14 - Prob. 30SECh. 14 - House Prices (Example 10) Figure A contains the...Ch. 14 - Math SAT Score and GPA Figure A shows information...Ch. 14 - Height and Weight A scatterplot of the heights and...Ch. 14 - Waist Size and Weight A scatterplot of the waist...Ch. 14 - GPA and SAT The figure shows 95#37; prediction...Ch. 14 - Shoes and Heights The scatterplot shows shoe size...Ch. 14 - Height and Weight A scatterplot of the heights and...Ch. 14 - Waist Size and Weight A scatterplot of the waist...Ch. 14 - Baseball Players Figure A shows a scatterplot with...Ch. 14 - Predicting Education Figure A shows a scatterplot...Ch. 14 - Life Expectancy and Gestation Periods for Animals...Ch. 14 - Prob. 42CRE
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