Elementary Statistics
12th Edition
ISBN: 9780321836960
Author: Mario F. Triola
Publisher: PEARSON
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Chapter 14.3, Problem 9BSC
To determine
To construct: The control chart for p.
Whether the process is within statistical control or not.
To identify: The requirement which is satisfied, if the process is in out-of-control state.
To comment: The voting behavior of the population.
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Suppose you are gambling on a roulette wheel. Each time the wheel is spun, the result is one of the outcomes 0, 1, and so on through 36. Of these outcomes, 18 are red, 18 are black, and 1 is green. On each spin you bet $5 that a red outcome will occur and $1 that the green outcome will occur. If red occurs, you win a net $4. (You win $10 from red and nothing from green.) If green occurs, you win a net $24. (You win $30 from green and nothing from red.) If black occurs, you lose everything you bet for a loss of $6.
a. Use simulation to generate 1,000 plays from this strategy. Each play should indicate the net amount won or lost. Then, based on these outcomes, calculate a 95% confidence interval for the total net amount won or lost from 1,000 plays of the game. (Round your answers to two decimal places and if your answer is negative value, enter "minus" sign.) I worked out the Upper Limit, but I can't seem to arrive at the correct answer for the Lower Limit. What is the Lower Limit?…
Chapter 14 Solutions
Elementary Statistics
Ch. 14.2 - Product Specs Table 14-1 lists process data...Ch. 14.2 - Prob. 2BSCCh. 14.2 - Prob. 3BSCCh. 14.2 - Prob. 4BSCCh. 14.2 - Prob. 5BSCCh. 14.2 - Prob. 6BSCCh. 14.2 - Prob. 7BSCCh. 14.2 - Prob. 8BSCCh. 14.2 - Prob. 9BSCCh. 14.2 - Prob. 10BSC
Ch. 14.2 - Prob. 11BSCCh. 14.2 - Prob. 12BSCCh. 14.2 - Prob. 13BBCh. 14.2 - Prob. 14BBCh. 14.3 - Prob. 1BSCCh. 14.3 - Prob. 2BSCCh. 14.3 - Prob. 3BSCCh. 14.3 - Interpreting a Control Chart After constructing a...Ch. 14.3 - Prob. 5BSCCh. 14.3 - Prob. 6BSCCh. 14.3 - Prob. 7BSCCh. 14.3 - Prob. 8BSCCh. 14.3 - Prob. 9BSCCh. 14.3 - Prob. 10BSCCh. 14.3 - Control Charts for p. In Exercises 512, use the...Ch. 14.3 - Prob. 12BSCCh. 14.3 - Prob. 13BBCh. 14 - Prob. 1CQQCh. 14 - Prob. 2CQQCh. 14 - Prob. 3CQQCh. 14 - Prob. 4CQQCh. 14 - Prob. 5CQQCh. 14 - Prob. 6CQQCh. 14 - Prob. 7CQQCh. 14 - Prob. 8CQQCh. 14 - Prob. 9CQQCh. 14 - Examine the following p chart for defective...Ch. 14 - Prob. 1RECh. 14 - Prob. 2RECh. 14 - Prob. 3RECh. 14 - Energy Consumption. Exercises 15 refer to the...Ch. 14 - Prob. 5RECh. 14 - Prob. 1CRECh. 14 - Prob. 2CRECh. 14 - Prob. 3CRECh. 14 - Prob. 4CRECh. 14 - Prob. 5CRECh. 14 - Prob. 6CRECh. 14 - Prob. 7CRECh. 14 - Prob. 8CRECh. 14 - Prob. 9CRECh. 14 - Prob. 10CRECh. 14 - FROM DATA TO DECISION Critical Thinking: Are the...
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