EBK STATISTICS FOR MANAGEMENT AND ECONO
11th Edition
ISBN: 9781337516723
Author: KELLER
Publisher: YUZU
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Question
Chapter 4, Problem 139CE
(a)
To determine
Mean and median.
(a)
Expert Solution
Explanation of Solution
The mean and median of a woman’s bone density loss is calculated using statistical software and Spreadsheet. The values of mean and median are shown below.
Mean value: 35.01
Median value: 36
Economics Concept Introduction
Mean: Mean is the average value of the data recorded. That is, it is the sum of the terms (given data) divided by the number of terms.
Median: Median is the mid value of the recorded data.
(b)
To determine
Standard deviation.
(b)
Expert Solution
Explanation of Solution
Standard deviation of the bone density losses is 7.68. Spreadsheet is shown in part (a).
Economics Concept Introduction
Standard deviation: Standard deviation can be defined as the amount of variation of a set of data or values.
(b)
To determine
Interpretation of the data.
(b)
Expert Solution
Explanation of Solution
The values in the spreadsheet show that born density losses lie below 36.
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Students have asked these similar questions
Tasks
Exercise 1
Assess the following functions:
1. f(x)= x2+6x+2
2.f '(x)=10x-2x2+5
a. Find the stationary points. (5 marks)
b. Determine whether the stationary point is a maximum or minimum. (5 marks)
c. Draw the corresponding curves (5 marks)
Problem 2:
The sales data over the last 10 years for the Acme Hardware Store are as follows:
2003
$230,000
2008
$526,000
2004
276,000
2009
605,000
2005
328,000
2010
690,000
2006
388,000
2011
779,000
2007
453,000
2012
873,000
1. Calculate the compound growth rate for the period of 2003 to 2012.
2. Based on your answer to part a, forecast sales for both 2013 and 2014.
3. Now calculate the compound growth rate for the period of 2007 to 2012.
1. Based on your answer to part e, forecast sales for both 2013 and 2014.
5. What is the major reason for the differences in your answers to parts b and d? If you were to
make your own projections, what would you forecast? (Drawing a graph is very helpful.)
Exercise 4A firm has the following average cost: AC = 200 + 2Q – 36
Q
Find the stationary point and determine if it is a maximum or a minimum.b. Find the marginal cost function.
Chapter 4 Solutions
EBK STATISTICS FOR MANAGEMENT AND ECONO
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