Statistical Reasoning for Everyday Life (5th Edition)
5th Edition
ISBN: 9780134494043
Author: Jeff Bennett, William L. Briggs, Mario F. Triola
Publisher: PEARSON
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Textbook Question
Chapter 3.4, Problem 1E
Perceptual Distortion. Use a ruler to measure the lengths of the two dollar bills in Figure 3.29. Do the lengths accurately reflect the change in value? In what way is the graphic potentially misleading?
Figure 3.29 The lengths of the dollars are proportional to their spending power, but our eyes are drawn to the areas, which decline more than the lengths.
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The average number of minutes Americans commute to work is 27.7 minutes (Sterling's Best Places, April 13, 2012). The average commute time in minutes for 48 cities are as follows:
Click on the datafile logo to reference the data.
DATA file
Albuquerque
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Jacksonville
26.2
Phoenix
28.3
Atlanta
28.3
Kansas City
23.4
Pittsburgh
25.0
Austin
24.6
Las Vegas
28.4
Portland
26.4
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32.1
Little Rock
20.1
Providence
23.6
Boston
31.7
Los Angeles
32.2
Richmond
23.4
Charlotte
25.8
Louisville
21.4
Sacramento
25.8
Chicago
38.1
Memphis
23.8
Salt Lake City
20.2
Cincinnati
24.9
Miami
30.7
San Antonio
26.1
Cleveland
26.8
Milwaukee
24.8
San Diego
24.8
Columbus
23.4
Minneapolis
23.6
San Francisco
32.6
Dallas
28.5
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25.3
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28.5
Denver
28.1
New Orleans
31.7
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27.3
Detroit
29.3
New York
43.8
St. Louis
26.8
El Paso
24.4
Oklahoma City
22.0
Tucson
24.0
Fresno
23.0
Orlando
27.1
Tulsa
20.1
Indianapolis
24.8
Philadelphia
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Washington, D.C.
32.8
a. What is the mean commute time for…
Morningstar tracks the total return for a large number of mutual funds. The following table shows the total return and the number of funds for four categories of mutual funds.
Click on the datafile logo to reference the data.
DATA file
Type of Fund
Domestic Equity
Number of Funds
Total Return (%)
9191
4.65
International Equity
2621
18.15
Hybrid
1419
2900
11.36
6.75
Specialty Stock
a. Using the number of funds as weights, compute the weighted average total return for these mutual funds. (to 2 decimals)
%
b. Is there any difficulty associated with using the "number of funds" as the weights in computing the weighted average total return in part (a)? Discuss. What else might be used for weights?
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
c. Suppose you invested $10,000 in this group of mutual funds and diversified the investment by placing $2000 in Domestic Equity funds, $4000 in International Equity funds, $3000 in Specialty Stock…
The days to maturity for a sample of five money market funds are shown here. The dollar amounts invested in the funds are provided.
Days to
Maturity
20
Dollar Value
($ millions)
20
12
30
7
10
5
6
15
10
Use the weighted mean to determine the mean number of days to maturity for dollars invested in these five money market funds (to 1 decimal).
days
Chapter 3 Solutions
Statistical Reasoning for Everyday Life (5th Edition)
Ch. 3.1 - Frequency Table. What is a frequency table? How...Ch. 3.1 - Relative Frequency. What do we mean by relative...Ch. 3.1 - Cumulative Frequency. What do we mean by...Ch. 3.1 - Binning. What is the purpose of binning? Give an...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Does It Make Sense? For Exercises 58, determine...Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...
Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...Ch. 3.1 - Pulse Rates of Females. In Exercises 912, refer to...Ch. 3.1 - Birth Days. Births at a hospital in New York State...Ch. 3.1 - Clinical Trial. As part of a clinical trial, the...Ch. 3.1 - Train Derailments. An analysis of 50 train...Ch. 3.1 - Analysis of Last Digits. Weights of respondents...Ch. 3.1 - Academy Award-Winning Male Actors. The following...Ch. 3.1 - Body Temperatures. The following data show the...Ch. 3.1 - Loaded Die. An experiment was conducted in which a...Ch. 3.1 - Interpreting Family Data. Consider the following...Ch. 3.1 - Computer Keyboards. The traditional keyboard...Ch. 3.1 - Double Binning. The students in a statistics class...Ch. 3.2 - Distribution Graph. What is a distribution of...Ch. 3.2 - Qualitative Data. Which types of graph described...Ch. 3.2 - Yearly Data. Which type of graph described in this...Ch. 3.2 - Histogram and Stemplot. Assume that a data set is...Ch. 3.2 - Prob. 5ECh. 3.2 - Does It Make Sense? For Exercises 58, determine...Ch. 3.2 - Does It Make Sense? For Exercises 58, determine...Ch. 3.2 - Does It Make Sense? For Exercises 58, determine...Ch. 3.2 - Histogram. Children living near a smelter in Texas...Ch. 3.2 - Understanding Data. Suppose you have a list of...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Most Appropriate Display. Exercises 1114 describe...Ch. 3.2 - Academy Award-Winning Male Actors. Exercise 17 in...Ch. 3.2 - Body Temperatures. Exercise 18 in Section 3.1...Ch. 3.2 - Job Hunting. A survey was conducted to determine...Ch. 3.2 - Job Hunting. Refer to the data given in Exercise...Ch. 3.2 - Prob. 19ECh. 3.2 - Job Application Mistakes Construct a Pareto chart...Ch. 3.2 - Dotplot. Refer to the QWERTY data in Exercise 21...Ch. 3.2 - Dotplot. Refer to the Dvorak data in Exercise 21...Ch. 3.2 - Stemplot. Construct a stemplot of these test...Ch. 3.2 - Stemplot. Listed below are the lengths (in...Ch. 3.2 - DJIA. Listed below (in order by row) are annual...Ch. 3.2 - Home Runs. Listed below (in order by row) are the...Ch. 3.3 - Multiple Data. Briefly describe how each of the...Ch. 3.3 - Prob. 2ECh. 3.3 - Prob. 3ECh. 3.3 - Prob. 4ECh. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Does It Make Sense? For Exercises 58, determine...Ch. 3.3 - Public and Private Colleges. The stack plot in...Ch. 3.3 - Home Prices by Region. The graph in Figure 3.21...Ch. 3.3 - Gender and Salary. Consider the display in Figure...Ch. 3.3 - Marriage and Divorce Rates. The graph in Figure...Ch. 3.3 - Prob. 13ECh. 3.3 - College Degrees. The stack plot in Figure 3.25...Ch. 3.3 - Contour Map. For Exercises 17 and 18, refer to the...Ch. 3.3 - Prob. 18ECh. 3.3 - Prob. 19ECh. 3.3 - Prob. 20ECh. 3.3 - Infographic. For Exercises 21 and 22, refer to...Ch. 3.3 - Infographic. For Exercises 21 and 22, refer to...Ch. 3.3 - Creating Graphics. Exercises 2326 give tables of...Ch. 3.3 - Creating Graphics. Exercises 2326 give tables of...Ch. 3.3 - Firearms Fatalities. The following table...Ch. 3.3 - Prob. 26ECh. 3.4 - Perceptual Distortion. Use a ruler to measure the...Ch. 3.4 - Prob. 2ECh. 3.4 - Prob. 3ECh. 3.4 - Prob. 4ECh. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Does It Make Sense? For Exercises 58, determine...Ch. 3.4 - Exaggerating a Difference. Weekly instruction time...Ch. 3.4 - Graph of Sounds. In a survey conducted by Kelton...Ch. 3.4 - Graph Dimensions. A newspaper used images of...Ch. 3.4 - Prob. 12ECh. 3.4 - Prob. 13ECh. 3.4 - DJIA. Figure 3.36 on the next page depicts the...Ch. 3.4 - Prob. 15ECh. 3.4 - Prob. 16ECh. 3.4 - Prob. 17ECh. 3.4 - Moores Law. In 1965, Intel cofounder Gordon Moore...Ch. 3.4 - Prob. 19ECh. 3.4 - Prob. 20ECh. 3.4 - Constant Dollars. The graph in Figure 3.41 shows...Ch. 3.4 - Prob. 22ECh. 3 - Listed below are measured weights (in pounds) of...Ch. 3 - Listed below are measured weights (in pounds) of...Ch. 3 - Listed below are measured weights (in pounds) of...Ch. 3 - Pie Chart for Sports Equipment. USA Today reported...Ch. 3 - Pareto Chart for Sports Equipment. Construct a...Ch. 3 - Bar Chart. Figure 3.43 shows the numbers of U.S....Ch. 3 - As a quality control manager at Ford Motor...Ch. 3 - As a quality control manager at Ford, you monitor...Ch. 3 - A stemplot is created with the braking distances...Ch. 3 - A dotplot of braking distances (in feet) of cars...Ch. 3 - The first category in a frequency table is 90100,...Ch. 3 - The first category in a relative frequency table...Ch. 3 - The third category in a frequency table has a...Ch. 3 - Prob. 8CQCh. 3 - When constructing a graph of the same categorical...Ch. 3 - Body Temperatures Listed below are body...Ch. 3 - Why are pictographs generally poor for depicting...Ch. 3 - Note that this graph plots six variables: two...Ch. 3 - Prob. 2.2FCh. 3 - Prob. 2.3F
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