EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 8220100460463
Author: Anderson
Publisher: CENGAGE L
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 17.6, Problem 40E
Electric power consumption is measured in kilowatt-hours (kWh). The local utility company offers an interrupt program whereby commercial customers that participate receive favorable rates but must agree to cut back consumption if the utility requests them to do so. Timko Products cut back consumption at 12:00 noon Thursday. To assess the savings, the utility must estimate Timko’s usage without the interrupt. The period of interrupted service was from noon to 8:00 p.m. Data on electric power consumption for the previous 72 hours are available.
- a. Is there a seasonal effect over the 24-hour period?
- b. Compute seasonal indexes for the six 4-hour periods.
- c. Use trend adjusted for seasonal indexes to estimate Timko’s normal usage over the period of interrupted service.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
(b) Compute seasonal indexes for the six 4-hour periods. (Round your answers to four decimal places.)
Time Period
12-4 a.m.
4-8 a.m.
8-12 noon
12-4 p.m.
4-8 p.m.
Seasonal
Index
0.8109
1.0715
3.9631
4.3318
3.8187
8-12 midnight 1.7310
X
X
X
X
X
Adjusted
Seasonal
Index
-19.9100
7.1480
X
X
293.6110 X
333.1820 X
281.8670 X
X 73.1000 X
(c) Use trend adjusted for seasonal indexes to estimate the company's normal usage (in kWh) over the period of interrupted service. (Round your answer to the nearest integer.)
1437012 X kWh
A hospital is using X bar and R charts to record the time it takes to process patient account information. A sample of five applications is taken each day. The first four weeks’ (20 days’) data give the following values:
=16 min =7 min
If the upper and lower specifications are 21 minutes and 13 minutes respectively, calculate , Cp and Cpk. Interpret the indices.
Average adult Americans are about one inch taller, but nearly a whopping 25 pounds heavier than they were in 1960, according to a new report from the Centers for Disease Control and Prevention (CDC). The bad news, says CDC is that average BMI (body mass index, a weight-for-height formula used to measure obesity) has increased among adults...” Boston is considered one of America’s healthiest cities – is the weight gain since 1960 similar in Boston? A sample of n=28 adults suggested a mean increase of 19.5 pounds over the mean recorded in 1960 with a standard deviation of 8.6 pounds. Is Boston statistically significantly different in terms of weight gain from the national mean since 1960? Run the appropriate test at a 5% level of significance. Please use the five steps to demonstrate proper hypothesis testing and explain your results.
Please do not use any software calculations.
Chapter 17 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
Ch. 17.2 - Consider the following time series data. Week 1 2...Ch. 17.2 - Refer to the time series data in exercise 1. Using...Ch. 17.2 - Exercises 1 and 2 used different forecasting...Ch. 17.2 - Consider the following time series data. Month 1 2...Ch. 17.3 - Consider the following time series data. Week 1 2...Ch. 17.3 - Consider the following time series data. Month 1 2...Ch. 17.3 - Refer to the gasoline sales time series data in...Ch. 17.3 - Refer again to the gasoline sales time series data...Ch. 17.3 - With the gasoline time series data from Table...Ch. 17.3 - With a smoothing constant of = .2, equation...
Ch. 17.3 - For the Hawkins Company, the monthly percentages...Ch. 17.3 - Corporate triple-A bond interest rates for 12...Ch. 17.3 - The values of Alabama building contracts (in ...Ch. 17.3 - The following time series shows the sales of a...Ch. 17.3 - Ten weeks of data on the Commodity Futures Index...Ch. 17.3 - The U.S. Census Bureau tracks the median price for...Ch. 17.4 - Consider the following time series data. a....Ch. 17.4 - Prob. 18ECh. 17.4 - Consider the following time series. a. Construct a...Ch. 17.4 - Prob. 20ECh. 17.4 - Prob. 21ECh. 17.4 - Prob. 22ECh. 17.4 - The president of a small manufacturing firm is...Ch. 17.4 - FRED (Federal Reserve Economic Data), a database...Ch. 17.4 - Automobile unit sales at B. J. Scott Motors, Inc.,...Ch. 17.4 - Giovanni Food Products produces and sells frozen...Ch. 17.4 - Prob. 27ECh. 17.5 - Consider the following time series. a. Construct a...Ch. 17.5 - Consider the following time series data. a....Ch. 17.5 - The quarterly sales data (number of copies sold)...Ch. 17.5 - Air pollution control specialists in southern...Ch. 17.5 - South Shore Construction builds permanent docks...Ch. 17.5 - Prob. 33ECh. 17.5 - Three years of monthly lawn-maintenance expenses...Ch. 17.6 - Consider the following time series data. a....Ch. 17.6 - Refer to exercise 35. a. Deseasonalize the time...Ch. 17.6 - The quarterly sales data (number of copies sold)...Ch. 17.6 - Three years of monthly lawn-maintenance expenses...Ch. 17.6 - Air pollution control specialists in southern...Ch. 17.6 - Electric power consumption is measured in...Ch. 17 - The weekly demand (in cases) for a particular...Ch. 17 - The following table reports the percentage of...Ch. 17 - United Dairies. Inc., supplies milk to several...Ch. 17 - Prob. 44SECh. 17 - Prob. 45SECh. 17 - The Mayfair Department Store in Davenport, Iowa,...Ch. 17 - Canton Supplies, Inc., is a service firm that...Ch. 17 - The Costello Music Company has been in business...Ch. 17 - Consider the Costello Music Company problem in...Ch. 17 - Refer to the Costello Music Company problem in...Ch. 17 - Refer to the Costello Music Company time series in...Ch. 17 - Hudson Marine has been an authorized dealer for CD...Ch. 17 - Refer to the Hudson Marine problem in exercise 52....Ch. 17 - Refer to the Hudson Marine problem in exercise 53....Ch. 17 - Refer to the Hudson Marine data in exercise 53. a....Ch. 17 - Forecasting Food and Beverage Sales The Vintage...Ch. 17 - Forecasting Lost Sales The Carlson Department...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- An earthquake in Mexico in 1985 had and intensity level about 125, 000, 000 times the reference intensity. Find the Richter number for that earthquake.arrow_forwardIn 1906, San Francisco experienced an intense earthquake with a magnitude of 7.8 on the Richter scale. In 1989, the Loma Prieta earthquake also affected the San Francisco area, and measured 6.9 on the Richter scale. Compare the intensities of the two earthquakes.arrow_forwardDoes a linear, exponential, or logarithmic model best fit the data in Table 2? Find the model.arrow_forward
- Estimate the age of a newly discovered fossil for which the ratio of carbon-14 to carbon-12 is R=1/1014.arrow_forwardEnter the data from Table 2 into a graphing calculator and graph the ranking scatter plot. Determine whetherthe data from the table would likely represent a function that is linear, exponential, or logarithmic.arrow_forwardThe astronauts of Expedition 28 on the International Space Station spend 15 weeks in space. Convert the time to minutes.arrow_forward
- Most analysts focus on the cost of tuition as the way to measure the cost of a college education. But incidentals, such as textbook costs, are rarely considered. A researcher at Drummand University wishes to estimate the textbook costs of first-year students at Drummand. To do so, she monitored the textbook cost of 250 first-year students and found that their average textbook cost was $300 per semester. Identify the variable of interest to the researcher. Select one: a. The age of Drummand University students. b. The textbook cost of first-year Drummand University students. c. The year in school of Drummand University students. d. The cost of incidental expenses of Drummand University students.arrow_forwardIn a survey of consumers, approximately 43% said they would be willing to pay $1500 more for a new car if the car had an EPA rating of 83 miles per gallon. If your car currently gets 21 miles per gallon and you drive approximately 10,000 miles per year, in how many months would your savings on gasoline pay for the increased cost of such a car? Assume that the average cost of gasoline is $2.00 per gallon. Round to the nearest whole number.arrow_forwardTurnover is planned at 2.5 for the six-month peris starting February 1 through July 31. Average weekly sales for that period are $75,000. What average stock should be carried in this situation? $800,000 $900,000 O $720,000 $780,000arrow_forward
- A test for bladder cancer costs $100. If given to 1,000 individuals, it will reduce medical costs by $80,000 and increase average life expectancy from 15.0 to 15.1. What is the cost per life year? Should you screen this population?arrow_forwardPeter Thompson, in charge of office supplies at Top Hill Estates., would like to predict the quantity of paper used in the office photocopying machines per month. He believes that the number of clients seen in a month influences the volume of photocopying performed. He has compiled the following recent monthly data: (You are to use Excel for this problem) Number of clients in a Month Sheets of Photocopy Paper Used (1000's) 40 26 50 54 40 23 34 52 24 12 25 26 22 15 22 26 a. Develop the least squares estimated regression equation that relates sheets of photocopy paper used to the number of clients. b. Use the regression equation developed in part (a) to forecast the amount of paper used in a month when 36 clients are expected. c. Compute SSE, SST, and SSR.arrow_forwardTo test a newly formulated protein bar designed to improve running performance, 10 distance runners performed two trials. All the participants ate the new protein formula bar on the first trial. In the second trial, the same participants ate the regular (old) protein bar. Thirty minutes after consuming the bar the participant ran for 2 hours on a treadmill. At the end of the two trials, performed on consecutive days for each participant, the distance each participant ran (in km) was recorded. The data is below. Runner New formula Old formula 1 10.6 10.5 2 11.2 10.9 3 10.3 10.2 4 11.9 11.6 5 9.8 9.7 6 11.1 10.8 7 12.1 11.9 8 10.9 10.8 9 9.7 9.8 10 10.3 10.3 a) Calculate a 99% confidence interval for the population mean difference in run distance after eating the newly formulated protein bar compared to the old protein bar. b) Carry out the appropriate hypothesis test using a two-sided…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
Algebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage Learning
Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
Elementary AlgebraAlgebraISBN:9780998625713Author:Lynn Marecek, MaryAnne Anthony-SmithPublisher:OpenStax - Rice University
Algebra: Structure And Method, Book 1
Algebra
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:McDougal Littell
Algebra for College Students
Algebra
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Elementary Algebra
Algebra
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:OpenStax - Rice University
The Shape of Data: Distributions: Crash Course Statistics #7; Author: CrashCourse;https://www.youtube.com/watch?v=bPFNxD3Yg6U;License: Standard YouTube License, CC-BY
Shape, Center, and Spread - Module 20.2 (Part 1); Author: Mrmathblog;https://www.youtube.com/watch?v=COaid7O_Gag;License: Standard YouTube License, CC-BY
Shape, Center and Spread; Author: Emily Murdock;https://www.youtube.com/watch?v=_YyW0DSCzpM;License: Standard Youtube License