APPLIED STAT.IN BUS.+ECONOMICS
6th Edition
ISBN: 9781259957598
Author: DOANE
Publisher: RENT MCG
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 2, Problem 71CE
You can test Excel’s algorithm for selecting random integers with a simple experiment. Enter =RANDBETWEEN(1,2) into cell A1 and then copy it to cells A1:E20. This creates a data block of 100 cells containing either a one or a two. In cell G1 type =COUNTIF(A1:E20,“=1”) and in cell G2 type =COUNTIF(A1:E20,“=2”). Highlight cells G1 and G2 and create a column chart. Click on the vertical axis scale and set the lower limit to 0 and upper limit to 100. Then hold down the F9 key and observe the chart. Are you convinced that, on average, you are getting about 50 ones and 50 twos? Ambitious Students: Generalize this experiment to integers 1 through 5.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
A smallish urn contains 25 small plastic bunnies – 7 of which are pink and 18 of which are white. 10 bunnies are drawn from the urn at random with replacement, and X is the number of pink bunnies that are drawn.
(a) P(X = 5) ≈
(b) P(X<6) ≈
The Whoville small urn contains 100 marbles – 60 blue and 40 orange. The Grinch sneaks in one night and grabs a simple random sample (without replacement) of 15 marbles.
(a) The probability that the Grinch gets exactly 6 blue marbles is [ Select ] ["≈ 0.054", "≈ 0.043", "≈ 0.061"] .
(b) The probability that the Grinch gets at least 7 blue marbles is [ Select ] ["≈ 0.922", "≈ 0.905", "≈ 0.893"] .
(c) The probability that the Grinch gets between 8 and 12 blue marbles (inclusive) is [ Select ] ["≈ 0.801", "≈ 0.760", "≈ 0.786"] . The Whoville small urn contains 100 marbles – 60 blue and 40 orange. The Grinch sneaks in one night and grabs a simple random sample (without replacement) of 15 marbles.
(a)…
Suppose an experiment was conducted to compare the mileage(km) per litre
obtained by competing brands of petrol I,II,III. Three new Mazda, three new
Toyota and three new Nissan cars were available for experimentation. During the
experiment the cars would operate under same conditions in order to eliminate
the effect of external variables on the distance travelled per litre on the assigned
brand of petrol. The data is given as below:
Brands of Petrol Mazda Toyota Nissan
I 10.6 12.0 11.0
II 9.0 15.0 12.0
III 12.0 17.4 13.0
(a) Test at the 5% level of significance whether there are signi
cant differences among the brands of fuels and also among the cars. [10]
(b) Compute the standard error for comparing any two fuel brands means. Hence
compare, at the 5% level of significance, each of fuel brands II, and III with
the standard fuel brand I. [10]
Business discuss
Chapter 2 Solutions
APPLIED STAT.IN BUS.+ECONOMICS
Ch. 2.1 - What type of data (categorical, discrete...Ch. 2.1 - What type of data (categorical, discrete...Ch. 2.1 - What type of data (categorical, discrete...Ch. 2.1 - (a) Give three original examples of discrete data,...Ch. 2.1 - Which type of data (cross-sectional or time...Ch. 2.1 - Which type of data (cross-sectional or time...Ch. 2.1 - Prob. 7SECh. 2.1 - Give an original example of a time series variable...Ch. 2.2 - Which measurement level (nominal, ordinal,...Ch. 2.2 - Which measurement level (nominal, ordinal,...
Ch. 2.2 - Which measurement level (nominal, ordinal,...Ch. 2.2 - Prob. 12SECh. 2.2 - Prob. 13SECh. 2.2 - (a) Would the measurement level for the data...Ch. 2.3 - Would you use a sample or a census to measure each...Ch. 2.3 - Would you use a sample or a census to measure each...Ch. 2.3 - The target population is all stocks in the SP 500...Ch. 2.4 - The target population is all students in your...Ch. 2.4 - Suppose you want to know the ages of moviegoers...Ch. 2.4 - Suppose you want to study the number of e-mail...Ch. 2.4 - In Excel, type a list containing names for 10 of...Ch. 2.6 - What sources of error might you encounter if you...Ch. 2.6 - What kind of survey (mail, telephone, interview,...Ch. 2.6 - What kind of survey (mail, telephone, interview,...Ch. 2.6 - Prob. 27SECh. 2.6 - What problems are evident in the wording of these...Ch. 2 - Define (a) data, (b) data set (c) observation, and...Ch. 2 - How do business data differ from scientific...Ch. 2 - Distinguish (a) univariate, bivariate, and...Ch. 2 - Define the four measurement levels and give an...Ch. 2 - Prob. 5CRCh. 2 - (a) List three reasons why a census might be...Ch. 2 - Prob. 7CRCh. 2 - (a) List four methods of random sampling. (b) List...Ch. 2 - List five (a) steps in a survey, (b) issues in...Ch. 2 - Prob. 10CRCh. 2 - Prob. 29CECh. 2 - Prob. 30CECh. 2 - Prob. 31CECh. 2 - Which measurement level (nominal, ordinal,...Ch. 2 - Below are five questions from a survey of MBA...Ch. 2 - Below are five questions from a survey of MBA...Ch. 2 - Below are five questions from a survey of MBA...Ch. 2 - Prob. 36CECh. 2 - Identify the following data as either time series...Ch. 2 - Would you use a sample or a census to measure each...Ch. 2 - Would you use a sample or census to measure each...Ch. 2 - Is each of the following a parameter or a...Ch. 2 - Prob. 41CECh. 2 - Prob. 42CECh. 2 - Prob. 43CECh. 2 - Prob. 44CECh. 2 - The IRS estimates that the average taxpayer spent...Ch. 2 - The General Accounting Office conducted random...Ch. 2 - Arsenic (a naturally occurring, poisonous metal)...Ch. 2 - Prob. 48CECh. 2 - Would you expect Noodles Company to use a sample...Ch. 2 - A financial magazine publishes an annual list of...Ch. 2 - Examine each of the following statistics. Which...Ch. 2 - The National Claims History (NCH) contains records...Ch. 2 - Prior to starting a recycling program, a city...Ch. 2 - A university wanted to survey alumni about their...Ch. 2 - The U.S. Fisheries and Wildlife Service requires...Ch. 2 - Prob. 56CECh. 2 - Households can sign up for a telemarketing no-call...Ch. 2 - What level of measurement (nominal, ordinal,...Ch. 2 - Insurance companies are rated by several rating...Ch. 2 - A tabletop survey by a restaurant asked the...Ch. 2 - Give two original examples of (a) discrete data...Ch. 2 - Prob. 64CECh. 2 - Below are 64 names of employees at NilCo. Colors...Ch. 2 - From the display below, pick five cards (without...Ch. 2 - You can test Excels algorithm for selecting random...
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
- What would you say about a set of quantitative bivariate data whose linear correlation is -1? What would a scatter diagram of the data look like? (5 points)arrow_forwardBusiness discussarrow_forwardAnalyze the residuals of a linear regression model and select the best response. yes, the residual plot does not show a curve no, the residual plot shows a curve yes, the residual plot shows a curve no, the residual plot does not show a curve I answered, "No, the residual plot shows a curve." (and this was incorrect). I am not sure why I keep getting these wrong when the answer seems obvious. Please help me understand what the yes and no references in the answer.arrow_forward
- a. Find the value of A.b. Find pX(x) and py(y).c. Find pX|y(x|y) and py|X(y|x)d. Are x and y independent? Why or why not?arrow_forwardAnalyze the residuals of a linear regression model and select the best response.Criteria is simple evaluation of possible indications of an exponential model vs. linear model) no, the residual plot does not show a curve yes, the residual plot does not show a curve yes, the residual plot shows a curve no, the residual plot shows a curve I selected: yes, the residual plot shows a curve and it is INCORRECT. Can u help me understand why?arrow_forwardYou have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. please do it step by step on excel Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship. Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship. Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size). Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple…arrow_forward
- Here is data with as the response variable. x y54.4 19.124.9 99.334.5 9.476.6 0.359.4 4.554.4 0.139.2 56.354 15.773.8 9-156.1 319.2Make a scatter plot of this data. Which point is an outlier? Enter as an ordered pair, e.g., (x,y). (x,y)= Find the regression equation for the data set without the outlier. Enter the equation of the form mx+b rounded to three decimal places. y_wo= Find the regression equation for the data set with the outlier. Enter the equation of the form mx+b rounded to three decimal places. y_w=arrow_forwardYou have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. please do it step by step Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship. Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship. Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size). Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple linear…arrow_forwardExercises: Find all the whole number solutions of the congruence equation. 1. 3x 8 mod 11 2. 2x+3= 8 mod 12 3. 3x+12= 7 mod 10 4. 4x+6= 5 mod 8 5. 5x+3= 8 mod 12arrow_forward
- Scenario Sales of products by color follow a peculiar, but predictable, pattern that determines how many units will sell in any given year. This pattern is shown below Product Color 1995 1996 1997 Red 28 42 21 1998 23 1999 29 2000 2001 2002 Unit Sales 2003 2004 15 8 4 2 1 2005 2006 discontinued Green 26 39 20 22 28 14 7 4 2 White 43 65 33 36 45 23 12 Brown 58 87 44 48 60 Yellow 37 56 28 31 Black 28 42 21 Orange 19 29 Purple Total 28 42 21 49 68 78 95 123 176 181 164 127 24 179 Questions A) Which color will sell the most units in 2007? B) Which color will sell the most units combined in the 2007 to 2009 period? Please show all your analysis, leave formulas in cells, and specify any assumptions you make.arrow_forwardOne hundred students were surveyed about their preference between dogs and cats. The following two-way table displays data for the sample of students who responded to the survey. Preference Male Female TOTAL Prefers dogs \[36\] \[20\] \[56\] Prefers cats \[10\] \[26\] \[36\] No preference \[2\] \[6\] \[8\] TOTAL \[48\] \[52\] \[100\] problem 1 Find the probability that a randomly selected student prefers dogs.Enter your answer as a fraction or decimal. \[P\left(\text{prefers dogs}\right)=\] Incorrect Check Hide explanation Preference Male Female TOTAL Prefers dogs \[\blueD{36}\] \[\blueD{20}\] \[\blueE{56}\] Prefers cats \[10\] \[26\] \[36\] No preference \[2\] \[6\] \[8\] TOTAL \[48\] \[52\] \[100\] There were \[\blueE{56}\] students in the sample who preferred dogs out of \[100\] total students.arrow_forwardBusiness discussarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Mathematics For Machine TechnologyAdvanced MathISBN:9781337798310Author:Peterson, John.Publisher:Cengage Learning,
Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
Mathematics For Machine Technology
Advanced Math
ISBN:9781337798310
Author:Peterson, John.
Publisher:Cengage Learning,
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Graph Theory: Euler Paths and Euler Circuits; Author: Mathispower4u;https://www.youtube.com/watch?v=5M-m62qTR-s;License: Standard YouTube License, CC-BY
WALK,TRIAL,CIRCUIT,PATH,CYCLE IN GRAPH THEORY; Author: DIVVELA SRINIVASA RAO;https://www.youtube.com/watch?v=iYVltZtnAik;License: Standard YouTube License, CC-BY