Loose Leaf for Statistical Techniques in Business and Economics
Loose Leaf for Statistical Techniques in Business and Economics
17th Edition
ISBN: 9781260152647
Author: Douglas A. Lind
Publisher: McGraw-Hill Education
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Chapter 16, Problem 17E
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As part of their efforts, the executives also surveyed managers across the country to determinestaffing shortages. Managers were encouraged, but not required, to submit the survey. From theresponses they received, 45 out of 52 managers said they were either “severely understaffed” or“understaffed.” Looking at the numbers, one of the executives is outraged. “How can we expect ourstores to be successful if almost 87% are understaffed?” Give a statistical response tothe executive to assure them that the staffing problem is probably not as bad as it seemsin the preliminary numbers.
Rocky Mountain National Park is a popular park for outdoor recreation activities in Colorado. According to U.S. National Park Service statistics, 46.7% of visitors to Rocky Mountain National Park in 2018 entered through the Beaver Meadows park entrance, 24.3% of visitors entered through the Fall River park entrance, 6.3% of visitors entered through the Grand Lake park entrance, and 22.7% of visitors had no recorded point of entry to the park (U.S. National Park Service website). Consider a random sample of 175 Rocky Mountain National Park visitors. Use the normal approximation of the binomial distribution to answer the following questions. What is the probability that at least 75 visitors had a recorded entry through the Beaver Meadows park entrance? What is the probability that at least 70 but less than 80 visitors had a recorded entry through the Beaver Meadows park entrance? What is the probability that fewer than 10 visitors had a recorded entry through the Grand Lake park…
Organizations such as J.D. Power and Associates use the proportion of owners likely to repurchase a particular automobile as an indication of customer loyalty for the automobile. An automobile with a greater proportion of owners likely to repurchase is concluded to have greater customer loyalty. A study was conducted to compare the customer loyalty for three automobiles: Chevrolet Impala, Ford Fusion, and Honda Accord. The study contained 500 respondents and the data is summarized in the Microsoft Excel Online file below. Use the spreadsheet to perform the required calculations and hypothesis test.

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Loose Leaf for Statistical Techniques in Business and Economics

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