EBK STATISTICAL TECHNIQUES IN BUSINESS
17th Edition
ISBN: 9781259924163
Author: Lind
Publisher: MCGRAW HILL BOOK COMPANY
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Chapter 2, Problem 2SR
In the first quarter of last year, the 11 members of the sales staff at Master Chemical Company earned the following commissions:
$1,650 $1,475 $1,510 $1,670 $1,595 $1,760 $1,540 $1,495 $1,590 $1,625 $1,510
- (a) What are the values such as $1,650 and $1,475 called?
- (b) Using $1,400 up to $1,500 as the first class, $1,500 up to $1,600 as the second class, and so forth, organize the quarterly commissions into a frequency distribution.
- (c) What are the numbers in the right column of your frequency distribution called?
- (d) Describe the distribution of quarterly commissions, based on the frequency distribution. What is the largest concentration of commissions earned? What is the smallest, and the largest? What is the typical amount earned?
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Pam, Rob and Sam get a cake that is one-third chocolate, one-third vanilla, and one-third strawberry as shown below. They wish to fairly divide the cake using the lone chooser method. Pam likes strawberry twice as much as chocolate or vanilla. Rob only likes chocolate. Sam, the chooser, likes vanilla and strawberry twice as much as chocolate. In the first division, Pam cuts the strawberry piece off and lets Rob choose his favorite piece. Based on that, Rob chooses the chocolate and vanilla parts. Note: All cuts made to the cake shown below are vertical.Which is a second division that Rob would make of his share of the cake?
Three players (one divider and two choosers) are going to divide a cake fairly using the lone divider method. The divider cuts the cake into three slices (s1, s2, and s3).
If the choosers' declarations are Chooser 1: {s1 , s2} and Chooser 2: {s2 , s3}.
Using the lone-divider method, how many different fair divisions of this cake are possible?
Theorem 2.6 (The Minkowski inequality)
Let p≥1. Suppose that X and Y are random variables, such that E|X|P <∞ and
E|Y P <00. Then
X+YpX+Yp
Chapter 2 Solutions
EBK STATISTICAL TECHNIQUES IN BUSINESS
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