STATISTICAL TECHNIQUES FOR BUSINESS AND
17th Edition
ISBN: 9781307261158
Author: Lind
Publisher: MCG/CREATE
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Chapter 19, Problem 29CE
An investor believes there is a 50–50 chance that a stock will increase on a particular day. To investigate this idea, for 30 consecutive trading days the investor selects a random sample of 50 stocks and counts the number that increase. The number of stocks in the sample that increased is reported below.
Develop p-chart and write a brief report summarizing your findings. Based on these sample results, is it reasonable that the odds are 50–50 that a stock will increase? What percent of the stocks would need to increase in a day for the process to be “out of control”?
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A common way for two people to settle a frivolous dispute is to play a game of rock-paper-scissors. In this game, each person simultaneously displays a hand signal to indicate a rock, a piece of paper, or a pair of scissors. Rock beats scissors, scissors beats paper, and paper beats rock. If both players select the same hand signal, the game results in a tie.
Two roommates, roommate A and roommate B, are expecting company and are arguing over who should have to wash the dishes before the company arrives. Roommate A suggests a game of rock-paper-scissors to settle the dispute.
Consider the game of rock-paper-scissors to be an experiment. In the long run, roommate A chooses rock 21% of the time, and roommate B chooses rock 61% of the time; roommate A selects paper 39% of the time, and roommate B selects paper 21% of the time; roommate A chooses scissors 40% of the time, and roommate B chooses scissors 18% of the time. (These choices are made randomly and independently of each…
Chapter 19 Solutions
STATISTICAL TECHNIQUES FOR BUSINESS AND
Ch. 19 - The Rouse Home, located on the south side of...Ch. 19 - Tom Sharkey is the owner of Sharkey Chevy, Buick,...Ch. 19 - Out of 110 diesel engines tested, a rework and...Ch. 19 - The manager of River City McDonalds randomly...Ch. 19 - Describe the difference between assignable...Ch. 19 - Describe the difference between an attribute...Ch. 19 - Samples of size n = 4 are selected from a...Ch. 19 - Samples of size 5 are selected from a...Ch. 19 - A new industrial oven has just been installed at...Ch. 19 - Refer to Exercise 7. a. On the basis of this...
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