Intro Stats
4th Edition
ISBN: 9780321825278
Author: Richard D. De Veaux, Paul F. Velleman, David E. Bock
Publisher: PEARSON
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Textbook Question
Chapter 19, Problem 34E
Quality control Production managers on an assembly line must monitor the output to be sure that the level of defective products remains small. They periodically inspect a random sample of the items produced. If they find a significant increase in the proportion of items that must be rejected, they will halt the assembly process until the problem can be identified and repaired.
- a) In this context, what is a Type I error?
- b) In this context, what is a Type II error?
- c) Which type of error would the factory owner consider more serious?
- d) Which type of error might customers consider more serious?
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The following table shows a data set containing information for 25 of the shadow stocks tracked by the American Association of Individual Investors (aaii.com, February 2002). Shadow stocks are common stocks of smaller companies that are not closely followed by Wall Street analysts.
Click on the datafile logo to reference the data.
DATA file
Company
DeWolfe Companies
Exchange
Ticker
Symbol
Market
Cap
($ millions)
Price/
Gross
Profit
Earnings
Ratio
Margin
(%)
AMEX
DWL
36.4
8.4
36.7
North Coast Energy
OTC
NCEB
52.5
6.2
59.3
Hansen Natural Corp.
OTC
HANS
41.1
14.6
44.8
MarineMax, Inc.
NYSE
HZO
111.5
7.2
23.8
Nanometrics Incorporated
OTC
NANO
228.6
38.0
53.3
TeamStaff, Inc.
OTC
TSTF
92.1
33.5
4.1
Environmental Tectonics
AMEX
ETC
51.1
35.8
35.9
Measurement Specialties
AMEX
MSS
101.8
26.8
37.6
SEMCO Energy, Inc.
NYSE
SEN
193.4
18.7
23.6
Party City Corporation
OTC
PCTY
97.2
15.9
36.4
Embrex, Inc.
OTC
EMBX
136.5
18.9
59.5
Tech/Ops Sevcon, Inc.
AMEX
ΤΟ
23.2
20.7
35.7
ARCADIS NV
OTC
ARCAF
173.4…
The following table shows a data set containing information for 25 of the shadow stocks tracked by the American Association of Individual Investors (aaii.com, February 2002). Shadow stocks are common stocks of smaller companies that are not closely followed by Wall Street analysts.
Click on the datafile logo to reference the data.
DATA file
Company
DeWolfe Companies
Exchange
AMEX
Ticker
Symbol
Market
Cap
Price/
Gross
Profit
Earnings Margin
($ millions)
Ratio
(%)
DWL
36.4
8.4
36.7
North Coast Energy
OTC
NCEB
52.5
6.2
59.3
Hansen Natural Corp.
OTC
HANS
41.1
14.6
44.8
MarineMax, Inc.
NYSE
HZO
111.5
7.2
23.8
Nanometrics Incorporated
OTC
NANO
228.6
38.0
53.3
TeamStaff, Inc.
OTC
TSTF
92.1
33.5
4.1
Environmental Tectonics
AMEX
ETC
51.1
35.8
35.9
Measurement Specialties
AMEX
MSS
101.8
26.8
37.6
SEMCO Energy, Inc.
NYSE
SEN
193.4
18.7
23.6
Party City Corporation
OTC
PCTY
97.2
15.9
36.4
Embrex, Inc.
OTC
EMBX
136.5
18.9
59.5
Tech/Ops Sevcon, Inc.
AMEX
ΤΟ
23.2
20.7
35.7
ARCADIS NV
OTC
ARCAF
173.4…
The following data show the year to date percent change (YTD % Change) for 30 stock-market indexes from around the word (The Wall Street Journal, August 26, 2013).
a. What index has the largest positive YTD % Change? Round your answer to once decimal place. index with a YTD % Change of %
b. Using a class width of 5 beginning with -20 and going to 40, develop a frequency distribution for the data.
YTD % Change
Frequency
-20 - -15
-15 - -10
-10 - -5
-5 - 0
0 - 5
5 - 10
10 - 15
15 - 20
20 - 25
30 - 35
c.
1.
2.
3.
4.
Chapter 19 Solutions
Intro Stats
Ch. 19.4 - 1. An experiment to test the fairness of a...Ch. 19.4 - Prob. 2JCCh. 19.4 - Prob. 3JCCh. 19.5 - Remember the bank thats sending out DVDs to try to...Ch. 19.5 - Prob. 5JCCh. 19.5 - For the bank, which situation has higher power: a...Ch. 19 - Parameters and hypotheses For each of the...Ch. 19 - Prob. 2ECh. 19 - P-values Which of the following are true? If...Ch. 19 - Prob. 4E
Ch. 19 - Prob. 5ECh. 19 - Prob. 6ECh. 19 - Prob. 7ECh. 19 - Prob. 8ECh. 19 - Prob. 9ECh. 19 - More critical values For each of the following...Ch. 19 - SECTION 16.4 11. Errors For each of the following...Ch. 19 - More errors For each of the following situations,...Ch. 19 - Prob. 13ECh. 19 - 14. Which alternative? In each of the following...Ch. 19 - CHAPTER EXERCISES 13. P-value A medical researcher...Ch. 19 - Prob. 16ECh. 19 - Alpha A researcher developing scanners to search...Ch. 19 - Prob. 18ECh. 19 - Prob. 19ECh. 19 - Significant again? A new reading program may...Ch. 19 - Prob. 21ECh. 19 - Is the Euro fair? Soon after the Euro was...Ch. 19 - 23. Approval 2011 In November 2011, Barack Obama’s...Ch. 19 - Prob. 24ECh. 19 - Prob. 25ECh. 19 - Prob. 26ECh. 19 - Prob. 27ECh. 19 - Prob. 28ECh. 19 - Prob. 29ECh. 19 - Prob. 30ECh. 19 - 31. Homeowners 2009 In 2009, the U.S. Census...Ch. 19 - Alzheimers Testing for Alzheimers disease can be a...Ch. 19 - Prob. 33ECh. 19 - Quality control Production managers on an assembly...Ch. 19 - Prob. 35ECh. 19 - 36. Production Consider again the task of the...Ch. 19 - Equal opportunity? A company is sued for job...Ch. 19 - Stop signs Highway safety engineers test new road...Ch. 19 - Prob. 39ECh. 19 - Ads A company is willing to renew its advertising...Ch. 19 - 41. Software, part II 203 students signed up for...Ch. 19 - Prob. 42ECh. 19 - Prob. 43ECh. 19 - Catheters During an angiogram, heart problems can...Ch. 19 - Prob. 45ECh. 19 - Prob. 46ECh. 19 - Prob. 47ECh. 19 - Faulty or not? You are in charge of shipping...Ch. 19 - Prob. 49ECh. 19 - Prob. 50E
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