Sampling Problems. Sampling techniques can be used to estimate physical quantities. To estimate a large quantity, you might measure a representative small sample and find the total quantity by “scaling up.” To estimate a small quantity, you might measure several of the small quantities together and “scale down.” In each of the following, describe your estimation technique and answer the questions.
Example: How thick is a sheet of a paper?
Solution: One way to estimate the thickness of a sheet of paper is to measure the thickness of a ream (500 sheets) of paper. A particular ream was 7.5 centimeters thick. Thus, a sheet of paper from this ream was 7.5 cm / 500 = 0.015 cm, or 0.15 millimeter, thick.
75. How many stars are visible in the sky on the clearest, darkest nights in your home town?
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EBK USING AND UNDERSTANDING MATHEMATICS
- Wing Foot is a shoe franchise commonly found in shopping centers across the United States. Wing Foot knows that its stores will not show a profit unless they gross over $940,000 per year. Let A be the event that a new Wing Foot store grosses over $940,000 its first year. Let B be the event that a store grosses over $940,000 its second year. Wing Foot has an administrative policy of closing a new store if it does not show a profit in either of the first two years. Assume that the accounting office at Wing Foot provided the following information: 58% of all Wing Foot stores show a profit the first year; 72% of all Wing Foot store show a profit the second year (this includes stores that did not show a profit the first year); however, 86% of Wing Foot stores that showed a profit the first year also showed a profit the second year. Compute P(B|Ac). Round your answer to the nearest hundredth.arrow_forward4. Use the properties of limits to help decide whether each limit exists. If a limit exists, fi lim (2x²-4x+5) a) x-4 b) lim 2 x²-16 x-4x+2x-8arrow_forwardYou draw two cards from a standard deck of 52 cards, but before you draw the second card, you put the first one back and reshuffle the deck. If you get a3on the first card, find the probability of drawing a 3 for the second card.arrow_forward
- Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a random variable representing annual return for the Vanguard Balanced Index (60% stock and 40% bond). For the past several years, assume the following data. Compute the coefficient of variation for each fund. Round your answers to the nearest tenth. x: 14 0 37 21 35 23 24 -14 -14 -17 y: 8 -2 29 17 22 17 17 -2 -3 -8arrow_forward7. The concentration of a drug in a patient's bloodstream h hours after it was injected is given by 0.17 h Ah= h²+2' Find and interpret lim A(h). Remember, the answers to word problems should always be given in a complete h→00 sentence, with proper units, in the context of the problem.arrow_forwardWhat percentage of the general U.S. population have bachelor's degrees? Suppose that the Statistical Abstract of the United States, 120th Edition, gives the following percentage of bachelor’s degrees by state. For convenience, the data are sorted in increasing order. 17 18 18 18 19 20 20 20 21 21 21 21 21 22 22 22 22 22 23 23 24 24 24 24 24 25 25 25 25 26 26 26 26 26 26 27 27 27 28 28 28 29 29 31 31 32 32 34 35 38 Illinois has a bachelor's degree percentage rate of about 18%. Into what quartile does this rate fall?arrow_forward
- What percentage of the general U.S. population have bachelor's degrees? Suppose that the Statistical Abstract of the United States, 120th Edition, gives the following percentage of bachelor’s degrees by state. For convenience, the data are sorted in increasing order. 17 18 18 18 19 20 20 20 21 21 21 21 21 22 22 22 22 22 23 23 24 24 24 24 24 25 25 25 25 26 26 26 26 26 26 27 27 27 28 28 28 29 29 31 31 32 32 34 35 38 Illinois has a bachelor's degree percentage rate of about 18%. Into what quartile does this rate fall?arrow_forwardFind the range for the following sample data. x 23 17 11 30 27arrow_forwardDo bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a random variable representing annual return for the Vanguard Balanced Index (60% stock and 40% bond). For the past several years, assume the following data. Compute the sample mean for x and for y. Round your answer to the nearest tenth. x: 11 0 36 22 34 24 25 -11 -11 -22 y: 9 -3 28 14 23 16 14 -3 -4 -9arrow_forward
- Do bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a random variable representing annual return for the Vanguard Balanced Index (60% stock and 40% bond). For the past several years, assume the following data. Compute the range for variable y. X 12 0 36 21 35 23 24 -12 -12 -21 Y 10 -2 26 15 22 18 15 -2 -3 -10arrow_forwardDo bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a random variable representing annual return for the Vanguard Balanced Index (60% stock and 40% bond). For the past several years, assume the following data. Compute the range for variable y. X 12 0 36 21 35 23 24 -12 -12 -21 Y 10 -2 26 15 22 18 15 -2 -3 -10arrow_forwardDo bonds reduce the overall risk of an investment portfolio? Let x be a random variable representing annual percent return for the Vanguard Total Stock Index (all Stocks). Let y be a random variable representing annual return for the Vanguard Balanced Index (60% stock and 40% bond). For the past several years, assume the following data. Compute the range for variable x. X 15 0 37 23 33 25 26 -15 -15 -23 Y 6 -1 28 18 24 17 18 -1 -2 -6arrow_forward
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