Explain the reason of large standard deviation.

Question

Want to see the full answer?

Answer 1

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 14, Problem 49E

a.

To determine

Explain the reason of large standard deviation.

b.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

c.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

d.

To determine

Explain whether the company is profitable or not.

e.

To determine

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Homework Let X1, X2, Xn be a random sample from f(x;0) where f(x; 0) = (-), 0 < x < ∞,0 € R Using Basu's theorem, show that Y = min{X} and Z =Σ(XY) are indep. -

Homework Let X1, X2, Xn be a random sample from f(x; 0) where f(x; 0) = e−(2-0), 0 < x < ∞,0 € R Using Basu's theorem, show that Y = min{X} and Z =Σ(XY) are indep.

An Arts group holds a raffle. Each raffle ticket costs $2 and the raffle consists of 2500 tickets. The prize is a vacation worth $3,000. a. Determine your expected value if you buy one ticket. b. Determine your expected value if you buy five tickets. How much will the Arts group gain or lose if they sell all the tickets?

Answer 2

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 14, Problem 49E

a.

To determine

Explain the reason of large standard deviation.

b.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

c.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

d.

To determine

Explain whether the company is profitable or not.

e.

To determine

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 14, Problem 49E

a.

To determine

Explain the reason of large standard deviation.

b.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

c.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

d.

To determine

Explain whether the company is profitable or not.

e.

To determine

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

Chapter 14, Problem 49E

a.

To determine

Explain the reason of large standard deviation.

b.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

c.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

d.

To determine

Explain whether the company is profitable or not.

e.

To determine

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 14, Problem 49E

a.

To determine

Explain the reason of large standard deviation.

b.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

c.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

d.

To determine

Explain whether the company is profitable or not.

e.

To determine

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Answer 6

Chapter 14, Problem 49E

a.

To determine

Explain the reason of large standard deviation.

Answer 7

Chapter 14, Problem 49E

a.

To determine

Explain the reason of large standard deviation.

Answer 8

b.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

Answer 9

b.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

Answer 10

c.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

Answer 11

c.

To determine

Find the mean and the standard deviation of the annual profit for the given condition.

Answer 12

d.

To determine

Explain whether the company is profitable or not.

Answer 13

d.

To determine

Explain whether the company is profitable or not.

Answer 14

e.

To determine

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Answer 15

e.

To determine

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 19

Ch. 14.1 - Prob. 1JC Ch. 14.3 - Prob. 2JC Ch. 14.6 - Prob. 3JC Ch. 14.6 - Prob. 4JC Ch. 14.6 - Prob. 5JC Ch. 14 - Prob. 1E Ch. 14 - Prob. 2E Ch. 14 - Prob. 3E Ch. 14 - Prob. 4E Ch. 14 - Prob. 5E

Explain the reason of large standard deviation.

Concept explainers

Videos

Explain the reason of large standard deviation.

Find the mean and the standard deviation of the annual profit for the given condition.

Find the mean and the standard deviation of the annual profit for the given condition.

Explain whether the company is profitable or not.

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.

Want to see the full answer?

Chapter 14 Solutions

Explain the reason of large standard deviation.

Concept explainers

Videos

Explain the reason of large standard deviation.

Find the mean and the standard deviation of the annual profit for the given condition.

Find the mean and the standard deviation of the annual profit for the given condition.

Explain whether the company is profitable or not.

Find the assumptions for the analysis. Explain the situation when the assumptions may be violated.

Want to see the full answer?

Chapter 14 Solutions

Find the assumptions for the analysis.

Explain the situation when the assumptions may be violated.