
Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 3, Problem 43PS
Thirty companies comprise the DJIA Just how big are these companies? One common method for measuring the size of a company is to use its market capitalization. which is computed by multiply:1g the number of stock shares by the price of a share of stock. On January 10, 2017. the market capitalization of these companies
billion to Apple's
a. Compute the
b. Interpret the parameters computed in (a).
Expert Solution & Answer

Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
The average miles per gallon for a sample of 40 cars of model SX last year was 32.1, with a population standard deviation of 3.8. A sample of 40 cars from this year’s model SX has an average of 35.2 mpg, with a population standard deviation of 5.4.
Find a 99 percent confidence interval for the difference in average mpg for this car brand (this year’s model minus last year’s).Find a 99 percent confidence interval for the difference in average mpg for last year’s model minus this year’s. What does the negative difference mean?
A special interest group reports a tiny margin of error (plus or minus 0.04 percent) for its online survey based on 50,000 responses. Is the margin of error legitimate? (Assume that the group’s math is correct.)
Suppose that 73 percent of a sample of 1,000 U.S. college students drive a used car as opposed to a new car or no car at all.
Find an 80 percent confidence interval for the percentage of all U.S. college students who drive a used car.What sample size would cut this margin of error in half?
Chapter 3 Solutions
Basic Business Statistics, Student Value Edition
Ch. 3 - The following set of data is from sample of n=5:...Ch. 3 - The following set of data is from sample of n=6:...Ch. 3 - The following set of data is from sample of n=7:...Ch. 3 - The following set of data is from sample of n=5:...Ch. 3 - Suppose that the rate of return for a particular...Ch. 3 - Suppose that the rate of return for a particular...Ch. 3 - Wired a magazine that delivers a glimpse into the...Ch. 3 - The operation manager of a plant that manufactures...Ch. 3 - Accounting to the U.S Census Bureau (census....Ch. 3 - The files Mobile Speed contain the overall...
Ch. 3 - The file Airport Rating contains the rating of...Ch. 3 - The annual NFL Super Bowl is the most widely...Ch. 3 - The AccountingPartners contains the number of...Ch. 3 - The file MobileCommerce contain the following...Ch. 3 - Prob. 15PSCh. 3 - Prob. 16PSCh. 3 - A bank branch located in a commercial district of...Ch. 3 - Suppose that another bank branch, location in a...Ch. 3 - Prob. 19PSCh. 3 - Prob. 20PSCh. 3 - The file Indices contains the total rate of return...Ch. 3 - In 2013 through 2016, the value of precious metals...Ch. 3 - Using the three-year return percentage variable in...Ch. 3 - Prob. 24PSCh. 3 - Using the three-year return percentage variable in...Ch. 3 - Prob. 26PSCh. 3 - The following is a set of data from a sample of...Ch. 3 - The following is a set of data from a sample of...Ch. 3 - The following is a set of data from a sample of...Ch. 3 - The following is a set of data from a sample of...Ch. 3 - Prob. 31PSCh. 3 - The file MobileCommerce contains the following...Ch. 3 - Prob. 33PSCh. 3 - Prob. 34PSCh. 3 - The file CD Rate contains the yields for one-year...Ch. 3 - A bark branch located in a commercial district of...Ch. 3 - The following is a set of data for a population...Ch. 3 - The following is a set of data for a population...Ch. 3 - The file McDonaldsStores contains the number of...Ch. 3 - Consider a population of 1.024 mutual funds that...Ch. 3 - Prob. 41PSCh. 3 - Prob. 42PSCh. 3 - Thirty companies comprise the DJIA Just how big...Ch. 3 - The following is a set of data from sample of n=11...Ch. 3 - A study of 267 college students investigated the...Ch. 3 - The file Cereals lists the calories and sugar. in...Ch. 3 - Movie companies need to predict the gross receipts...Ch. 3 - The fie Mobile Speed contains the overall download...Ch. 3 - A Pew Research Center survey found a noticeable...Ch. 3 - What are the properties of a set of numerical...Ch. 3 - What is meant by the property of central tendency?Ch. 3 - What are the differences among the mean, median,...Ch. 3 - How do you interpret the first quartile, median,...Ch. 3 - What is meant by the property of variation?Ch. 3 - What does the Z score measure?Ch. 3 - What are the differences among the various...Ch. 3 - How does the empirical rule help explain the ways...Ch. 3 - How do the empirical rule and the Chebyshev rule...Ch. 3 - What is meant by the property of shape?Ch. 3 - What is the difference between skewness and...Ch. 3 - What is the difference between the arithmetic mean...Ch. 3 - How do the covariance and the coefficient of...Ch. 3 - The American Society for Quality (ASQ) conducted a...Ch. 3 - Prob. 64PSCh. 3 - One of the 111801 measures of the quality of...Ch. 3 - Call centers today play an important role in...Ch. 3 - The financial services call center also monitors...Ch. 3 - Prob. 68PSCh. 3 - A quality characteristic of interest for a...Ch. 3 - The manufacturer of Boston and Vermont asphalt...Ch. 3 - Prob. 71PSCh. 3 - The file Protein contains calories. protein. and...Ch. 3 - What was the mean price of a room at two-star,...Ch. 3 - The file Property Taxes contains the property...Ch. 3 - Have you wondered how Internet connection speed...Ch. 3 - Prob. 76PSCh. 3 - Prob. 77PSCh. 3 - Prob. 78PSCh. 3 - You are planning to study for your statistics...Ch. 3 - The file DomesticBeer contains the percentage...
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
- You want to compare the average number of tines on the antlers of male deer in two nearby metro parks. A sample of 30 deer from the first park shows an average of 5 tines with a population standard deviation of 3. A sample of 35 deer from the second park shows an average of 6 tines with a population standard deviation of 3.2. Find a 95 percent confidence interval for the difference in average number of tines for all male deer in the two metro parks (second park minus first park).Do the parks’ deer populations differ in average size of deer antlers?arrow_forwardSuppose that you want to increase the confidence level of a particular confidence interval from 80 percent to 95 percent without changing the width of the confidence interval. Can you do it?arrow_forwardA random sample of 1,117 U.S. college students finds that 729 go home at least once each term. Find a 98 percent confidence interval for the proportion of all U.S. college students who go home at least once each term.arrow_forward
- Suppose that you make two confidence intervals with the same data set — one with a 95 percent confidence level and the other with a 99.7 percent confidence level. Which interval is wider?Is a wide confidence interval a good thing?arrow_forwardIs it true that a 95 percent confidence interval means you’re 95 percent confident that the sample statistic is in the interval?arrow_forwardTines can range from 2 to upwards of 50 or more on a male deer. You want to estimate the average number of tines on the antlers of male deer in a nearby metro park. A sample of 30 deer has an average of 5 tines, with a population standard deviation of 3. Find a 95 percent confidence interval for the average number of tines for all male deer in this metro park.Find a 98 percent confidence interval for the average number of tines for all male deer in this metro park.arrow_forward
- Based on a sample of 100 participants, the average weight loss the first month under a new (competing) weight-loss plan is 11.4 pounds with a population standard deviation of 5.1 pounds. The average weight loss for the first month for 100 people on the old (standard) weight-loss plan is 12.8 pounds, with population standard deviation of 4.8 pounds. Find a 90 percent confidence interval for the difference in weight loss for the two plans( old minus new) Whats the margin of error for your calculated confidence interval?arrow_forwardA 95 percent confidence interval for the average miles per gallon for all cars of a certain type is 32.1, plus or minus 1.8. The interval is based on a sample of 40 randomly selected cars. What units represent the margin of error?Suppose that you want to decrease the margin of error, but you want to keep 95 percent confidence. What should you do?arrow_forward3. (i) Below is the R code for performing a X2 test on a 2×3 matrix of categorical variables called TestMatrix: chisq.test(Test Matrix) (a) Assuming we have a significant result for this procedure, provide the R code (including any required packages) for an appropriate post hoc test. (b) If we were to apply this technique to a 2 × 2 case, how would we adapt the code in order to perform the correct test? (ii) What procedure can we use if we want to test for association when we have ordinal variables? What code do we use in R to do this? What package does this command belong to? (iii) The following code contains the initial steps for a scenario where we are looking to investigate the relationship between age and whether someone owns a car by using frequencies. There are two issues with the code - please state these. Row3<-c(75,15) Row4<-c(50,-10) MortgageMatrix<-matrix(c(Row1, Row4), byrow=T, nrow=2, MortgageMatrix dimnames=list(c("Yes", "No"), c("40 or older","<40")))…arrow_forward
- Describe the situation in which Fisher’s exact test would be used?(ii) When do we use Yates’ continuity correction (with respect to contingencytables)?[2 Marks] 2. Investigate, checking the relevant assumptions, whether there is an associationbetween age group and home ownership based on the sample dataset for atown below:Home Owner: Yes NoUnder 40 39 12140 and over 181 59Calculate and evaluate the effect size.arrow_forwardNot use ai pleasearrow_forwardNeed help with the following statistic problems.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal LittellHolt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillAlgebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningElementary AlgebraAlgebraISBN:9780998625713Author:Lynn Marecek, MaryAnne Anthony-SmithPublisher:OpenStax - Rice University

Algebra: Structure And Method, Book 1
Algebra
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:McDougal Littell

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

Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning

Elementary Algebra
Algebra
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:OpenStax - Rice University
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License