Basic Business Statistics
14th Edition
ISBN: 9780134684840
Author: BERENSON, Mark L., Levine, David M., Szabat, Kathryn A.
Publisher: Pearson,
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Chapter 17, Problem 20PS
a.
To determine
Conduct a multi-dimensional scaling analysis based on GDP per capita and Social Media Usage.
b.
To determine
Write a conclusion on nations that are similar.
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Question 2: When John started his first job, his first end-of-year salary was $82,500. In the following years, he received salary raises as shown in the following table.
Fill the Table: Fill the following table showing his end-of-year salary for each year. I have already provided the end-of-year salaries for the first three years. Calculate the end-of-year salaries for the remaining years using Excel. (If you Excel answer for the top 3 cells is not the same as the one in the following table, your formula / approach is incorrect) (2 points)
Geometric Mean of Salary Raises: Calculate the geometric mean of the salary raises using the percentage figures provided in the second column named “% Raise”. (The geometric mean for this calculation should be nearly identical to the arithmetic mean. If your answer deviates significantly from the mean, it's likely incorrect. 2 points)
Starting salary
% Raise
Raise
Salary after raise
75000
10%
7500
82500
82500
4%
3300…
I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)
I need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)
Chapter 17 Solutions
Basic Business Statistics
Ch. 17 - The business problem facing a consumer products...Ch. 17 - Prob. 2PSCh. 17 - Prob. 3PSCh. 17 - The owner of a moving company typically has his...Ch. 17 - A hotel has designed a new system for room service...Ch. 17 - A marketing manager wants to predict customers...Ch. 17 - An automotive insurance company wants to predict...Ch. 17 - Undergraduate students at Miami University in...Ch. 17 - Prob. 9PSCh. 17 - The file Cereals contains the calories,...
Ch. 17 - The file Protein contain calorie and cholesterol...Ch. 17 - Prob. 12PSCh. 17 - The file MobileSpeed contains the overall download...Ch. 17 - Prob. 14PSCh. 17 - Prob. 15PSCh. 17 - Prob. 16PSCh. 17 - Prob. 17PSCh. 17 - Prob. 18PSCh. 17 - Prob. 19PSCh. 17 - Prob. 20PSCh. 17 - Prob. 21PSCh. 17 - Prob. 22PSCh. 17 - What is the difference between supervised and...Ch. 17 - Prob. 24PSCh. 17 - Prob. 25PSCh. 17 - How does cluster analysis differ from...Ch. 17 - Prob. 27PSCh. 17 - Prob. 28PSCh. 17 - The file FTMBA contains a sample of top-ranked...Ch. 17 - Prob. 30PSCh. 17 - Prob. 31PSCh. 17 - Prob. 32PSCh. 17 - Prob. 33PSCh. 17 - Prob. 34PSCh. 17 - Prob. 35PSCh. 17 - In recent years, the share of Greek yogurts in the...
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- 310015 K Question 9, 5.2.28-T Part 1 of 4 HW Score: 85.96%, 49 of 57 points Points: 1 Save of 6 Based on a poll, among adults who regret getting tattoos, 28% say that they were too young when they got their tattoos. Assume that six adults who regret getting tattoos are randomly selected, and find the indicated probability. Complete parts (a) through (d) below. a. Find the probability that none of the selected adults say that they were too young to get tattoos. 0.0520 (Round to four decimal places as needed.) Clear all Final check Feb 7 12:47 US Oarrow_forwardhow could the bar graph have been organized differently to make it easier to compare opinion changes within political partiesarrow_forwardDraw a picture of a normal distribution with mean 70 and standard deviation 5.arrow_forward
- What do you guess are the standard deviations of the two distributions in the previous example problem?arrow_forwardPlease answer the questionsarrow_forward30. An individual who has automobile insurance from a certain company is randomly selected. Let Y be the num- ber of moving violations for which the individual was cited during the last 3 years. The pmf of Y isy | 1 2 4 8 16p(y) | .05 .10 .35 .40 .10 a.Compute E(Y).b. Suppose an individual with Y violations incurs a surcharge of $100Y^2. Calculate the expected amount of the surcharge.arrow_forward
- 24. An insurance company offers its policyholders a num- ber of different premium payment options. For a ran- domly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows: F(x)=0.00 : x < 10.30 : 1≤x<30.40 : 3≤ x < 40.45 : 4≤ x <60.60 : 6≤ x < 121.00 : 12≤ x a. What is the pmf of X?b. Using just the cdf, compute P(3≤ X ≤6) and P(4≤ X).arrow_forward59. At a certain gas station, 40% of the customers use regular gas (A1), 35% use plus gas (A2), and 25% use premium (A3). Of those customers using regular gas, only 30% fill their tanks (event B). Of those customers using plus, 60% fill their tanks, whereas of those using premium, 50% fill their tanks.a. What is the probability that the next customer will request plus gas and fill the tank (A2 B)?b. What is the probability that the next customer fills the tank?c. If the next customer fills the tank, what is the probability that regular gas is requested? Plus? Premium?arrow_forward38. Possible values of X, the number of components in a system submitted for repair that must be replaced, are 1, 2, 3, and 4 with corresponding probabilities .15, .35, .35, and .15, respectively. a. Calculate E(X) and then E(5 - X).b. Would the repair facility be better off charging a flat fee of $75 or else the amount $[150/(5 - X)]? [Note: It is not generally true that E(c/Y) = c/E(Y).]arrow_forward
- 74. The proportions of blood phenotypes in the U.S. popula- tion are as follows:A B AB O .40 .11 .04 .45 Assuming that the phenotypes of two randomly selected individuals are independent of one another, what is the probability that both phenotypes are O? What is the probability that the phenotypes of two randomly selected individuals match?arrow_forward53. A certain shop repairs both audio and video compo- nents. Let A denote the event that the next component brought in for repair is an audio component, and let B be the event that the next component is a compact disc player (so the event B is contained in A). Suppose that P(A) = .6 and P(B) = .05. What is P(BA)?arrow_forward26. A certain system can experience three different types of defects. Let A;(i = 1,2,3) denote the event that the sys- tem has a defect of type i. Suppose thatP(A1) = .12 P(A) = .07 P(A) = .05P(A, U A2) = .13P(A, U A3) = .14P(A2 U A3) = .10P(A, A2 A3) = .011Rshelfa. What is the probability that the system does not havea type 1 defect?b. What is the probability that the system has both type 1 and type 2 defects?c. What is the probability that the system has both type 1 and type 2 defects but not a type 3 defect? d. What is the probability that the system has at most two of these defects?arrow_forward
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