Business Statistics: A First Course (8th Edition)
8th Edition
ISBN: 9780135177785
Author: David M. Levine, Kathryn A. Szabat, David F. Stephan
Publisher: PEARSON
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A mining company finds that daily lost-work injuries averages to 1.2. If the local union contract has a clause requiring that the mine be shut down as soon as three workers incur lost-work injuries, on what percentage of the days will the mine be operational throughout the day?
The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, 5 years ago and now. The information is reported below. Is it reasonable to conclude the percent is less now than 5 years ago?
Homeowner
Five Years Ago
Now
Homeowner
Five Years Ago
Now
1
17
%
10
%
11
35
%
32
%
2
20
39
12
16
32
3
29
37
13
23
21
4
43
27
14
33
12
5
36
12
15
44
40
6
43
41
16
44
42
7
45
24
17
28
22
8
19
26
18
29
19
9
49
28
19
39
35
10
49…
Example 5
The highlights of the Railway budget for 1983-84 are as follows. The actual
gross traffic receipts for 1981-82 was Rs. 3,538.24 crores. The Budget Estimates for
1982-83 in regard to Gross traffic receipts was Rs. 4,171.8 crores and the revised
Budget Estimate for 1982-83 for the above item is Rs. 4,375.79 crores respectively.
Whereas the budget estimates for 1983-84 for Gross traffic receipts is Rs. 5,343.63
crores, the actual total working expenses and the net railway revenue for 1981-82
were Rs. 3,182.05 crores and Rs. 403.1 crores respectively. The Budget Estimates
and Revised Budget Estimates for 1982-83 in respect of total working expenses are
Rs. 3,700.90 crores and Rs. 3,892.28 crores respectively. Whereas the corresponding
estimates for 1982-83 in respect of net-railway revenue are Rs. 510.91 crores and
Rs. 533.4 crores respectively, the estimated budget on total working expenses and
net railway revenue for 1983-84 exceed the actuals for 1981-82 by Rs. 1,338.72
crores…
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