Business Analytics (2nd Edition)
2nd Edition
ISBN: 9780321997821
Author: James R. Evans
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 4, Problem 18PE
Using PivotTables, find the average and standard deviation of sales in the Sales Transactions database. Also, find the average sales by source (Web or e-mail). Do you think this information could be useful in advertising? Explain how and why or why not.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
5. Let X be a positive random variable with finite variance, and let A = (0, 1).
Prove that
P(X AEX) 2 (1-A)² (EX)²
EX2
6. Let, for p = (0, 1), and xe R. X be a random variable defined as follows:
P(X=-x) = P(X = x)=p. P(X=0)= 1-2p.
Show that there is equality in Chebyshev's inequality for X.
This means that Chebyshev's inequality, in spite of being rather crude, cannot be
improved without additional assumptions.
4. Prove that, for any random variable X, the minimum of EIX-al is attained for
a = med (X).
Chapter 4 Solutions
Business Analytics (2nd Edition)
Ch. 4 - Data obtained from a county auditor in the Excel...Ch. 4 - In the Excel file Facebook Survey, find the...Ch. 4 - For the Excel file Tablet Computer Sales, find the...Ch. 4 - Prob. 4PECh. 4 - Prob. 5PECh. 4 - Prob. 6PECh. 4 - Prob. 7PECh. 4 - Prob. 8PECh. 4 - Prob. 9PECh. 4 - Prob. 10PE
Ch. 4 - A marketing study of 800 adults in the 18—34 age...Ch. 4 - The Excel file EEO Employment Report shows the...Ch. 4 - In the Excell file Bicycle Inventory, find the...Ch. 4 - In the Sales Transactions database, find the...Ch. 4 - In the Excel file Economic Poll, find the...Ch. 4 - In the Excel file Facebook Survey, use a...Ch. 4 - In the Excel file Cell Phone Suivey, use...Ch. 4 - Using PivotTables, find the average and standard...Ch. 4 - Prob. 19PECh. 4 - Prob. 20PECh. 4 - Prob. 21PECh. 4 - Prob. 22PECh. 4 - Call centers have high turnover rates because of...Ch. 4 - In the Excel file Weddings, determine the...Ch. 4 - Prob. 25PECh. 4 - Prob. 26PECh. 4 - Prob. 27PECh. 4 - Prob. 28PECh. 4 - Prob. 29PECh. 4 - Prob. 30PECh. 4 - Prob. 31PECh. 4 - Compute the z-scores for the data in the Excel...Ch. 4 - Prob. 33PECh. 4 - Prob. 34PECh. 4 - Prob. 35PECh. 4 - Prob. 36PECh. 4 - Prob. 37PECh. 4 - Prob. 38PE
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
- 8. Recall, from Sect. 2.16.4, the likelihood ratio statistic, Ln, which was defined as a product of independent, identically distributed random variables with mean 1 (under the so-called null hypothesis), and the, sometimes more convenient, log-likelihood, log L, which was a sum of independent, identically distributed random variables, which, however, do not have mean log 1 = 0. (a) Verify that the last claim is correct, by proving the more general statement, namely that, if Y is a non-negative random variable with finite mean, then E(log Y) log(EY). (b) Prove that, in fact, there is strict inequality: E(log Y) < log(EY), unless Y is degenerate. (c) Review the proof of Jensen's inequality, Theorem 5.1. Generalize with a glimpse on (b).arrow_forward3. Prove that, for any random variable X, the minimum of E(X - a)² is attained for a = EX. Provedarrow_forward7. Cantelli's inequality. Let X be a random variable with finite variance, o². (a) Prove that, for x ≥ 0, P(X EX2x)≤ 02 x² +0² 202 P(|X - EX2x)<≤ (b) Find X assuming two values where there is equality. (c) When is Cantelli's inequality better than Chebyshev's inequality? (d) Use Cantelli's inequality to show that med (X) - EX ≤ o√√3; recall, from Proposition 6.1, that an application of Chebyshev's inequality yields the bound o√√2. (e) Generalize Cantelli's inequality to moments of order r 1.arrow_forward
- The college hiking club is having a fundraiser to buy new equipment for fall and winter outings. The club is selling Chinese fortune cookies at a price of $2 per cookie. Each cookie contains a piece of paper with a different number written on it. A random drawing will determine which number is the winner of a dinner for two at a local Chinese restaurant. The dinner is valued at $32. Since fortune cookies are donated to the club, we can ignore the cost of the cookies. The club sold 718 cookies before the drawing. Lisa bought 13 cookies. Lisa's expected earnings can be found by multiplying the value of the dinner by the probability that she will win. What are Lisa's expected earnings? Round your answer to the nearest cent.arrow_forwardThe Honolulu Advertiser stated that in Honolulu there was an average of 659 burglaries per 400,000 households in a given year. In the Kohola Drive neighborhood there are 321 homes. Let r be the number of homes that will be burglarized in a year. Use the formula for Poisson distribution. What is the value of p, the probability of success, to four decimal places?arrow_forwardThe college hiking club is having a fundraiser to buy new equipment for fall and winter outings. The club is selling Chinese fortune cookies at a price of $2 per cookie. Each cookie contains a piece of paper with a different number written on it. A random drawing will determine which number is the winner of a dinner for two at a local Chinese restaurant. The dinner is valued at $32. Since fortune cookies are donated to the club, we can ignore the cost of the cookies. The club sold 718 cookies before the drawing. Lisa bought 13 cookies. Lisa's expected earnings can be found by multiplying the value of the dinner by the probability that she will win. What are Lisa's expected earnings? Round your answer to the nearest cent.arrow_forward
- What was the age distribution of nurses in Great Britain at the time of Florence Nightingale? Thanks to Florence Nightingale and the British census of 1851, we have the following information (based on data from the classic text Notes on Nursing, by Florence Nightingale). Note: In 1851 there were 25,466 nurses in Great Britain. Furthermore, Nightingale made a strict distinction between nurses and domestic servants. Use a histogram and graph the probability distribution. Using the graph of the probability distribution determine the probability that a British nurse selected at random in 1851 would be 40 years of age or older. Round your answer to nearest thousandth. Age range (yr) 20–29 30–39 40–49 50–59 60–69 70–79 80+ Midpoint (x) 24.5 34.5 44.5 54.5 64.5 74.5 84.5 Percent of nurses 5.7% 9.7% 19.5% 29.2% 25.0% 9.1% 1.8%arrow_forwardWhat was the age distribution of nurses in Great Britain at the time of Florence Nightingale? Thanks to Florence Nightingale and the British census of 1851, we have the following information (based on data from the classic text Notes on Nursing, by Florence Nightingale). Note: In 1851 there were 25,466 nurses in Great Britain. Furthermore, Nightingale made a strict distinction between nurses and domestic servants. Use a histogram and graph the probability distribution. Using the graph of the probability distribution determine the probability that a British nurse selected at random in 1851 would be 40 years of age or older. Round your answer to nearest thousandth. Age range (yr) 20–29 30–39 40–49 50–59 60–69 70–79 80+ Midpoint (x) 24.5 34.5 44.5 54.5 64.5 74.5 84.5 Percent of nurses 5.7% 9.7% 19.5% 29.2% 25.0% 9.1% 1.8%arrow_forwardThere are 4 radar stations and the probability of a single radar station detecting an enemy plane is 0.55. Make a histogram for the probability distribution.arrow_forward
- show all stepsarrow_forwardMost people know that the probability of getting a head when you flip a fair coin is . You want to use the relative frequency of the event to show that the probability is . How many times should you simulate flipping the coin in the experiment? Would it be better to use 300 trials or 3000 trials? Explain.arrow_forwardThe qualified applicant pool for eight management trainee positions consists of ten women and six men. How many different groups of applicants can be selected for the positionsarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
Elementary AlgebraAlgebraISBN:9780998625713Author:Lynn Marecek, MaryAnne Anthony-SmithPublisher:OpenStax - Rice University
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
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
Elementary Algebra
Algebra
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:OpenStax - Rice University
The Shape of Data: Distributions: Crash Course Statistics #7; Author: CrashCourse;https://www.youtube.com/watch?v=bPFNxD3Yg6U;License: Standard YouTube License, CC-BY
Shape, Center, and Spread - Module 20.2 (Part 1); Author: Mrmathblog;https://www.youtube.com/watch?v=COaid7O_Gag;License: Standard YouTube License, CC-BY
Shape, Center and Spread; Author: Emily Murdock;https://www.youtube.com/watch?v=_YyW0DSCzpM;License: Standard Youtube License