Loose Leaf for Statistical Techniques in Business and Economics
17th Edition
ISBN: 9781260152647
Author: Douglas A. Lind
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 2, Problem 37CE
A chain of sport shops catering to beginning skiers, headquartered in Aspen, Colorado, plans to conduct a study of how much a beginning skier spends on his or her initial purchase of equipment and supplies. Based on these figures, it wants to explore the possibility of offering combinations, such as a pair of boots and a pair of skis, to induce customers to buy more. A sample of 44 cash register receipts revealed these initial purchases:
- a. Arrive at a suggested class interval.
- b. Organize the data into a frequency distribution using a lower limit of $70.
- c. Interpret your findings.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 9% of the employees suffered lost-time
accidents last year. Management believes that a special safety program will reduce such accidents to 4% during the current year: In addition, it estimates that 15% of
employees who had lost-time accidents last year will experience a lost-time accident during the current year.
a. What percentage of the employees will experience last-time accidents in both years (to 2 decimals)?
1.05
464
b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 2 decimals)?
12.65
A company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 10% of the employees suffered lost-time accidents last year. Management believes that a
special safety program will reduce such accidents to 7% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost-time accident during the
current year.
a. What percentage of the employees will experience lost-time accidents in both years (to 2 decimals)?
%
b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 2 decimals)?
Check My Work (2 remaining)
%
Based on market sales figures, approximately 7.9% of car owners in California own an electric or plug-in hybrid vehicle (EV). A marketing director at a local car dealership
would like to know if their sales of EV's is any greater than what the state's sales proportions are. To examine this, they look over the last 500 sales (which they consider to be
a representative sample of all car sales) and determine that 10.4% of those were EV sales. Is this statistically significant evidence that the dealership sells a higher proportion
of EV's than the overall state's proportion?
Which of the following are the correct null and alternative hypotheses for the hypothesis test used to determine significance?
Ho:p = 0.079
Haip > 0.079
%3D
O Ho:p = 0.079
Hai p > 0.104
O Ho:p 0.079
O Ho:p 0.104
Chapter 2 Solutions
Loose Leaf for Statistical Techniques in Business and Economics
Ch. 2 - DeCenzo Specialty Food and Beverage Company has...Ch. 2 - A pie chart shows the relative market share of...Ch. 2 - In a marketing study, 100 consumers were asked to...Ch. 2 - A total of 1,000 residents in Minnesota were asked...Ch. 2 - Two thousand frequent business travelers are asked...Ch. 2 - Wellstone Inc. produces and markets replacement...Ch. 2 - A small business consultant is investigating the...Ch. 2 - In the first quarter of last year, the 11 members...Ch. 2 - Prob. 3SRCh. 2 - A set of data consists of 38 observations. How...
Ch. 2 - A set of data consists of 45 observations between...Ch. 2 - A set of data consists of 230 observations between...Ch. 2 - A set of data contains 53 observations. The...Ch. 2 - Wachesaw Manufacturing Inc. produced the following...Ch. 2 - The Quick Change Oil Company has a number of...Ch. 2 - The manager of the BiLo Supermarket in Mt....Ch. 2 - The food services division of Cedar River...Ch. 2 - The annual imports of a selected group of...Ch. 2 - Mollys Candle Shop has several retail stores in...Ch. 2 - The following chart shows the number of patients...Ch. 2 - The following frequency distribution reports the...Ch. 2 - Prob. 18ECh. 2 - A sample of the hourly wages of 15 employees at...Ch. 2 - The following cumulative frequency and the...Ch. 2 - The cumulative frequency and the cumulative...Ch. 2 - The frequency distribution representing the number...Ch. 2 - Prob. 22ECh. 2 - Describe the similarities and differences of...Ch. 2 - Describe the similarities and differences between...Ch. 2 - Alexandra Damonte will be building a new resort in...Ch. 2 - Prob. 26CECh. 2 - A data set consists of 83 observations. How many...Ch. 2 - A data set consists of 145 observations that range...Ch. 2 - The following is the number of minutes to commute...Ch. 2 - The following data give the weekly amounts spent...Ch. 2 - A social scientist is studying the use of iPods by...Ch. 2 - David Wise handles his own investment portfolio,...Ch. 2 - You are exploring the music in your iTunes...Ch. 2 - The monthly issues of the Journal of Finance are...Ch. 2 - The following histogram shows the scores on the...Ch. 2 - The following chart summarizes the selling price...Ch. 2 - A chain of sport shops catering to beginning...Ch. 2 - The numbers of outstanding shares for 24 publicly...Ch. 2 - A recent survey showed that the typical American...Ch. 2 - Midland National Bank selected a sample of 40...Ch. 2 - Residents of the state of South Carolina earned a...Ch. 2 - A recent study of home technologies reported the...Ch. 2 - Merrill Lynch recently completed a study regarding...Ch. 2 - A total of 5.9% of the prime-time viewing audience...Ch. 2 - Refer to the following chart: a. What is the name...Ch. 2 - The following chart depicts the annual revenues,...Ch. 2 - Prob. 47CECh. 2 - Prob. 48CECh. 2 - One of the most popular candies in the United...Ch. 2 - The number of families who used the Minneapolis...Ch. 2 - Refer to the North Valley Real Estate data that...Ch. 2 - Prob. 52DACh. 2 - Refer to the Lincolnville School District bus...
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
- A company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 7% of the employees suffered lost- time accidents last year. Management believes that a special safety program will reduce such accidents to 5% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost-time accident during the current year. a. What percentage of the employees will experience lost-time accidents in both years (to 2 decimals)? % b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 2 decimals)? %arrow_forwardA company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 9% of the employees suffered lost-time accidents last year. Management believes that a special safety program will reduce such accidents to 6% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost-time accident during the current year. a. What percentage of the employees will experience lost-time accidents in both years (to 2 decimals)? % b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 2 decimals)? %arrow_forwardA company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 9% of the employees suffered lost-time accidents last year. Management believes that a special safety program will reduce such accidents to 8% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost-time accident during the current year. a. What percentage of the employees will experience lost-time accident in both years (to 1 decimal)? b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 1 decimal)? %arrow_forward
- Need help with last part in the box.arrow_forwardMr. Juan Rafael, the manager of JJ Computer Tech is conducting a study on the number of customers who pay by personal check, by credit card and by debit card. During the course of five days, he records the following number of purchases made by each method. What should be the conclusion as a result of the analysis? A. The number of customers who pay by personal check, by credit card, and by debit card at JJ Computer Tech are the same.B. At least two of the methods of payment in purchasing at JJ Computer Tech are significantly different.C. There is a significant difference in the number of customers who pay by personal check, by credit card, and by debit card at JJ Computer Tech.D. There is no significant difference in the number of customers who pay by personal check, by credit card, and by debit card at JJ Computer Techarrow_forwardAccording to the February 2008 Federal Trade Commission report on consumer fraud and identity theft, 23% of all complaints in 2007 were for identity theft. In that year, Alaska had 321 complaints of identity theft out of 1,432 consumer complaints ("Consumer fraud and," 2008). Does this data provide enough evidence to show that Alaska had a different proportion of identity theft than 23%? Test at the 5% level. a. Name of Test:arrow_forward
- A multinational corporation employing several thousand workers at its campus in a large city would like to estimate the proportion of its employees who commute to work by any means other than automobile. The company hopes to use the information to develop a proposal to encourage more employees to forgo their automobiles as a part of their commute. A pilot study of 50 randomly sampled employees found that 22 commute to work by means other than an automobile. Complete parts a and b below. a. How many more employees must the company randomly sample to be able to estimate the true population of employees who commute to work by means other than an automobile with a margin of error of 0.04 and a level of confidence of 95%? The company must sample______more employees.arrow_forwardpleasn answer all:arrow_forwardIn the United States, 50% of workers classified as “private industry workers,” those working for non-government businesses, earn an hourly wage of $22.27 or more (SOURCE: National Compensation Survey: Occupational Earnings in the United States, 2010, Bulletin 2753, http://www.stats.bls.gov/ncs/ebs/). Suppose a particular family has a history of working for the government. The family has two parents and four adult-age kids. a. What is the probability that both parents and half of the kids are in the higher earning bracket of government workers? b. What is the probability that only one parent and one child fall into the higher earning bracket of government workers? c. Why is it not possible to group the entire family together as a unit of six individuals and “select two” to calculate the answer to Part b)? Calculate the answer to verify that you do not obtain the same probability by finding it this way.arrow_forward
- A school psychologist wants to test the effectiveness of a new method of teaching art. She recnuits 700 sixth-grade students and randomly divides them into two groups. Group 1 is taught by means of the new method, while grouD 2 is taught by traditional methods. The same teacher is assigned to teach both groups. At the end of the year, an achievement test is administered and the results of the two groups are compared. Complete parts (a) through (h) below. (a) What is the response variable in this experiment? O A. The score of group 2 on the achievement test O B. The scores on the achievement tests of both group 1 and group 2 O C. The score of group 1 on the achievement test O D. The students' ability in art (b) Is the response variable qualitative or quantitative? O A. The response variable is qualitative because it is a characteristic. O B. The response variable is quantitative because it is a measurement. O C. The response variable is quantitative because it is a characteristic. The…arrow_forward2. Experiment or observational study ? a. According to insurance records, people who drive red cars are more likely to get into accidents than people who drive white cars. b. Emily has decided to collect data on ballet dancers and their grades in school. Emily will collect data by conducting a survey, asking each dancer his or her level of ability, number of hours spent training per week, GPA in school and averages in each class. Once Emily collects this data, she can use the data to develop a conclusion. C. Does the color of a basketball influence the number of times a shooter sinks a basket? A random group of students is chosen and asked to shoot a series of baskets using a regulation normal-colored basketball. The data is recorded. The same group is then given a blue colored basketball and the same number of shots is repeated. The data is again recorded. A statistical analysis is performed.arrow_forwardA certain company will purchase the house of any employee who is transferred out of state and will handle all details of reselling the house. The purchase price is based on two assessments, one assessor being chosen by the employee and one by the company. Based on the sample of eight assessments shown, do the two assessors agree? Use the .01 level of significance. Assessments of Eight Homes ($ thousands) Assessed by Home 1 Home 2 Home 3 Home 4 Home 5 Home 6 Home 7 Home 8 Company 328 350 455 278 290 285 535 745 Employee 318 345 470 285 310 280 525 765 a) Choose the appropriate hypotheses. Assume d = company assessed value – employee assessed value. H0: μd = 0 versus H1: μd ≠ 0. H0: μd ≠ 0 versus H1: μd = 0. (b) State the decision rule for .01 level of significance. (Round your answers to 2 decimal places. A negative value should be indicated by a minus sign.) Reject the null hypothesis if tcalc < or tcalc > . (c-1) Find the test statistic tcalc.…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Hypothesis Testing using Confidence Interval Approach; Author: BUM2413 Applied Statistics UMP;https://www.youtube.com/watch?v=Hq1l3e9pLyY;License: Standard YouTube License, CC-BY
Hypothesis Testing - Difference of Two Means - Student's -Distribution & Normal Distribution; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=UcZwyzwWU7o;License: Standard Youtube License