Basic Business Statistics, Student Value Edition (13th Edition)
13th Edition
ISBN: 9780321946393
Author: Mark L. Berenson, David M. Levine, Kathryn A. Szabat
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 2, Problem 42PS
How do the average credit scores of people living in various cities differ? The file Credit Scores contain an ordered array of the average credit scores of 143 American cities. (Data extracted from usat.ly/17a1FA6.)
a. Construct a percentage histogram.
b. Construct a cumulative percentage
c. What conclusions can you reach concerning the avenge credit scores of people living in different American cities?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
One bulb manufacturer claims an average bulb life of 1,600 hours. It is suspected that the actual average is significantly lower. To verify this, a sample of 49 bulbs is selected and the life of each bulb is measured. A sample mean of 1,500 hours and a standard deviation of 120 hours were obtained from them.
Can you be sure, at 5% significance, that the mean life is less than what the manufacturer claims?
The specification calls for the dimension of a certain mechanical part to be 0.55 inches. A random sample of 35 parts taken from a large batch showed a mean 0.54 in. with a deviation of 0.05 in.
Can it be concluded, at 1% significance, that the batch of parts meets the required specification?
A manufacturer produces a wire rope of a certain type, which has a breaking strength of not more than 300 kg. A new and cheaper process is discovered which is desired to be employed, provided that the wire rope thus produced has an average breaking strength greater than 300 kg. If a random sample of 26 wires produced with the new process has given a mean of 304.5 kg and a standard deviation of 15 kg, should the manufacturer adopt the new process?
Chapter 2 Solutions
Basic Business Statistics, Student Value Edition (13th Edition)
Ch. 2 - A categorical variable has three categories, with...Ch. 2 - The following data represent the responses to two...Ch. 2 - The following table, stored in smartphone sales,...Ch. 2 - The Edmunds.com NHTSA Complaints Activity Report...Ch. 2 - The 2013 Mortimer Spinks and Computer Weekly...Ch. 2 - The following table represents world oil...Ch. 2 - Visier’s Survey of Employers explores how North...Ch. 2 - A survey of 1,085 adults asked “Do you enjoy...Ch. 2 - Prob. 9PSCh. 2 - Do special recommendations increase ad...
Ch. 2 - Construct an ordered array, given the following...Ch. 2 - Construct an ordered array, given the following...Ch. 2 - Prob. 13PSCh. 2 - Prob. 14PSCh. 2 - Prob. 15PSCh. 2 - The file Utility contains the following data about...Ch. 2 - How much time do commuters living in or near...Ch. 2 - How do the average credit scores of people living...Ch. 2 - One operation of a mill is to cut pieces of steel...Ch. 2 - Prob. 20PSCh. 2 - Prob. 21PSCh. 2 - Prob. 22PSCh. 2 - The file Drink Contains the following data for the...Ch. 2 - Prob. 24PSCh. 2 - Prob. 25PSCh. 2 - Prob. 26PSCh. 2 - Prob. 27PSCh. 2 - Prob. 28PSCh. 2 - Prob. 29PSCh. 2 - Prob. 30PSCh. 2 - Prob. 31PSCh. 2 - Do special recommendations increase ad...Ch. 2 - Construct a stern-and-leaf display, given the...Ch. 2 - Construct an ordered array, given the following...Ch. 2 - The following is a stern-and0-leaf display...Ch. 2 - Prob. 36PSCh. 2 - The file MobileSpeed contains the overall download...Ch. 2 - The file Utility contains the following data about...Ch. 2 - Prob. 39PSCh. 2 - Prob. 40PSCh. 2 - How much time do Americans living in or near...Ch. 2 - How do the average credit scores of people living...Ch. 2 - One operation of a mill is to cut pieces of steel...Ch. 2 - Prob. 44PSCh. 2 - Prob. 45PSCh. 2 - Prob. 46PSCh. 2 - The data stored in Drink represents the amount of...Ch. 2 - The following is a set of data from a sample of...Ch. 2 - Prob. 49PSCh. 2 - Movie companies need to predict the gross receipts...Ch. 2 - Data were collected on the typical cost of dining...Ch. 2 - Prob. 52PSCh. 2 - Prob. 53PSCh. 2 - How have stocks performed in the past? The...Ch. 2 - Prob. 55PSCh. 2 - Prob. 56PSCh. 2 - The file Audits contains the number of audits of...Ch. 2 - Prob. 58PSCh. 2 - Prob. 59PSCh. 2 - Prob. 60PSCh. 2 - Using the sample of retirement funds stored in...Ch. 2 - Prob. 65PSCh. 2 - Prob. 66PSCh. 2 - Examine the following visualization, adapted from...Ch. 2 - Prob. 69PSCh. 2 - Prob. 70PSCh. 2 - How do histograms and polygons differ in...Ch. 2 - Why would you construct a summary table?Ch. 2 - What are the advantages and disadvantage of using...Ch. 2 - Compare and contrast the bar chart for categorical...Ch. 2 - What is the difference between a time-series plot...Ch. 2 - Why is it said that the main feature of a Pareto...Ch. 2 - What are the three different ways to break down...Ch. 2 - How can a multidimensional table differ from a...Ch. 2 - What type of insights can you gain from a...Ch. 2 - The following summary, table, presents the...Ch. 2 - The following table represents the market share...Ch. 2 - Prob. 82PSCh. 2 - The owner of a restaurant that services...Ch. 2 - Prob. 84PSCh. 2 - The following data represents the pounds per...Ch. 2 - Prob. 86PSCh. 2 - One of the major measures of the quality of...Ch. 2 - Prob. 88PSCh. 2 - Prob. 89PSCh. 2 - Prob. 90PSCh. 2 - Prob. 91PSCh. 2 - Prob. 92PSCh. 2 - What was the average price of a room at two-star,...Ch. 2 - The file Protein contains calorie and cholesterol...Ch. 2 - The file Natural Gas contains the U.S. monthly...Ch. 2 - Prob. 96PSCh. 2 - Prob. 97PSCh. 2 - A/B testing allows business to test a new design...
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
- We are interested in whether the proportions of female suicide victims for ages 15 to 24 are the same between the white and the black races in the United States. We randomly pick one year to compare the races. The number of suicides estimated in the United States in that year for white females is 4,930. Five hundred eighty-three were aged 15 to 24. The estimate for black females is 330. Forty-one were aged 15 to 24. We will let female suicide victims be our population. (Use α = 0.05.) NOTE: If you are using a Student's t-distribution for the problem, including for paired data, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption, though.) Part (a) State the null hypothesis. ○ Ho: PW> PB O Ho: PW + PB Ho: Pw≤ PB Ho: PW-PB ○ Ho: Pw PB Part (c) In words, state what your random variable P'w-P'B represents. P'w-P'B represents the average difference of white and black female suicide victims, aged 15 to 24. ○ P'w-P'B…arrow_forwardplease solve this problem step by step and make it quick pleasearrow_forwardplease solve this problem step by step and make it quick pleasearrow_forward
- 8.67 Free recall memory strategy. Psychologists who study ①memory often use a measure of "free recall" (e.g., the RECALL number of correctly recalled items in a list of to-be- remembered items). The strategy used to memorize the list-for example, category clustering-is often just as important. Researchers at Central Michigan University developed an algorithm for computing measures of cat- egory clustering in Advances in Cognitive Psychology (Oct. 2012). One measure, called ratio of repetition, was recorded for a sample of 8 participants in a memory study. These ratios are listed in the table. Test the theory that the average ratio of repetition for all participants in a similar memory study differs from .5. Select an appropriate Type I error rate for your test. .25 .43 .57 .38 .38 .60 .47 .30 Source: Senkova, O., & Otani, H. "Category clustering calculator for free recall." Advances in Cognitive Psychology, Vol. 8, No. 4, Oct. 2012 (Table 3).arrow_forward8.64 Radon exposure in Egyptian tombs. Refer to the D Radiation Protection Dosimetry (Dec. 2010) study TOMBS of radon exposure in Egyptian tombs, Exercise 7.39 (p. 334). The radon levels-measured in becquerels per cubic meter (Bq/m³)-in the inner chambers of a sam- ple of 12 tombs are listed in the table. For the safety of the guards and visitors, the Egypt Tourism Authority (ETA) will temporarily close the tombs if the true mean level of radon exposure in the tombs rises to 6,000 Bq/m³. Consequently, the ETA wants to conduct a test to deter- mine if the true mean level of radon exposure in the tombs is less than 6,000 Bq/m³, using a Type I error probabil- ity of .10. A SAS analysis of the data is shown on p. 399. Specify all the elements of the test: Ho, Ha, test statistic, p-value, a, and your conclusion. 50 390 910 12100 180 580 7800 4000 3400 1300 11900 1100 N Mean Std Dev Std Err Minimum Maximum 12 3642.5 4486.9 1295.3 50.0000 12100.0arrow_forwardHow does probability help businesses make informed decisions under uncertainty? Provide an example of how businesses use probability in marketing to predict customer behavior. Why is probability considered essential in financial decision-making, particularly in portfolio management? Discuss how the use of probability in inventory management can improve customer satisfaction. Compare the role of probability in marketing and financial decision-making. How do the applications differ in their objectives?arrow_forward
- 55 5.5 A glass bottle manufacturing company has recorded data on the average number of defects per 10,000 bottles due to stones (small pieces of rock embedded in the bottle wall) and the number of weeks since the last furnace overhaul. The data are shown below. Defects per 10,000 Weeks 13.0 4 16.1 5 14.5 6 17.8 7 22.0 8 27.4 9 16.8 10 65.6 ☐☐ Defects per 10,000 Weeks 34.2 11 12 49.2 13 66.2 81.2 87.4 14 15 16 114.5 17 a. Fit a straight-line regression model to the data and perform the standard tests for model adequacy. b. Suggest an appropriate transformation to eliminate the problems encoun- tered in part a. Fit the transformed model and check for adequacy.arrow_forwardOne estimate of the proportion of children with autism in the United States is 1 in 100 (Source: http://www.cbsnews.com/stories/2009/10/05/health/main5363192.shtml). Suppose you are interested in the rate of autism among current school-aged children in Utah. You collect a sample of 400 children between the ages of 5 and 18 and find that three have had a previous diagnosis of an autism disorder. You plan to calculate a 95% confidence interval estimator of the proportion of school-aged children in Utah who have ever had a diagnosis of an autism disorder. Which of the following is the most likely reason you would use a Wilson estimator to calculate the confidence interval estimator? It is uncomfortable to define having been diagnosed with autism as a success. It is possible that if even the actual proportion in Utah is 1%, your sample may only have very few children who have had a previous diagnosis of an autism disorder. It is an easier way to calculate the confidence…arrow_forwardProblem 2-6. Need help on why its 1.22arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
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...
Algebra
ISBN:9780079039897
Author:Carter
Publisher: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
what is Research Design, Research Design Types, and Research Design Methods; Author: Educational Hub;https://www.youtube.com/watch?v=LpmGSioXxdo;License: Standard YouTube License, CC-BY