EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780136880844
Author: Evans
Publisher: PEARSON
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Textbook Question
Chapter 4, Problem 2PE
Classify each of the data elements in the Sales Transactions database as categorical, ordinal, interval, or ratio data and explain why.
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30. An individual who has automobile insurance from a certain company is randomly selected. Let Y be the num- ber of moving violations for which the individual was cited during the last 3 years. The pmf of Y isy | 1 2 4 8 16p(y) | .05 .10 .35 .40 .10
a.Compute E(Y).b. Suppose an individual with Y violations incurs a surcharge of $100Y^2. Calculate the expected amount of the surcharge.
24. An insurance company offers its policyholders a num- ber of different premium payment options. For a ran- domly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows:
F(x)=0.00 : x < 10.30 : 1≤x<30.40 : 3≤ x < 40.45 : 4≤ x <60.60 : 6≤ x < 121.00 : 12≤ x
a. What is the pmf of X?b. Using just the cdf, compute P(3≤ X ≤6) and P(4≤ X).
Chapter 4 Solutions
EBK BUSINESS ANALYTICS
Ch. 4 - Prob. 1PECh. 4 - Classify each of the data elements in the Sales...Ch. 4 - Identify each of the variables in the Excel file...Ch. 4 - Classify each of the variables in the Excel file...Ch. 4 - Use the COUNTIF function to construct a frequency...Ch. 4 - A community health status survey obtained the...Ch. 4 - Construct frequency distributions and histograms...Ch. 4 - Use the Histogram tool to develop a frequency...Ch. 4 - Prob. 12PECh. 4 - Use a PivotTable to construct a frequency...
Ch. 4 - Prob. 14PECh. 4 - Find the 20thand80th percentiles of home prices in...Ch. 4 - Find the 10thand90th percentiles and the first and...Ch. 4 - Prob. 18PECh. 4 - Find the first, second, and third quartiles for...Ch. 4 - Prob. 20PECh. 4 - Prob. 21PECh. 4 - Find the mean, median, and midrange for the data...Ch. 4 - In the Excel file Facebook Survey, find the mean,...Ch. 4 - Considering the data in the Excel file Home Market...Ch. 4 - Considering the data in the Excel file Home Market...Ch. 4 - In the Excel file Facebook Survey, find the range,...Ch. 4 - For the Excel file Tablet Computer Sales, find the...Ch. 4 - The Excel file Atlanta Airline Data provides...Ch. 4 - Compute the coefficient of variation for each...Ch. 4 - Find 30 days of stock prices for three companies...Ch. 4 - Apply the Descriptive Statistics tool for subsets...Ch. 4 - Use the Descriptive Statistics tool to summarize...Ch. 4 - Prob. 39PECh. 4 - Prob. 42PECh. 4 - Prob. 43PECh. 4 - Prob. 44PECh. 4 - Prob. 45PECh. 4 - In the Excel file Bicycle Inventory, find the...Ch. 4 - Prob. 48PECh. 4 - Prob. 49PECh. 4 - Prob. 50PECh. 4 - Prob. 51PECh. 4 - Prob. 52PECh. 4 - Prob. 55PECh. 4 - Prob. 56PECh. 4 - Prob. 57PECh. 4 - Prob. 58PECh. 4 - Prob. 59PECh. 4 - In the Excel file Weddings, determine the...Ch. 4 - Prob. 61PECh. 4 - Prob. 62PECh. 4 - For the Presidents Inn Guest Database, find the...Ch. 4 - For the Excel file Credit Risk Data, compute the...Ch. 4 - Compute the z-scores for the data in the Excel...Ch. 4 - Prob. 67PECh. 4 - Prob. 68PECh. 4 - Prob. 70PECh. 4 - Prob. 71PECh. 4 - Prob. 73PECh. 4 - Prob. 74PECh. 4 - Prob. 75PE
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