EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780136880844
Author: Evans
Publisher: PEARSON
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Chapter 4, Problem 51PE
To determine
To analyse: average wedding cost by type of payor and value rating using pivot table,
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1. Differentiate between discrete and continuous random variables,
providing examples for each type.
2. Consider a discrete random variable representing the number of
patients visiting a clinic each day. The probabilities for the
number of visits are as follows:
0 visits: P(0) = 0.2
1 visit: P(1) = 0.3
2 visits: P(2) = 0.5
Using this information, calculate the expected value (mean) of
the number of patient visits per day. Show all your workings
clearly.
Rubric to follow
Definition of Random variables ( clearly and accurately differentiate between discrete and continuous random variables with appropriate examples for each)
Identification of discrete random variable (correctly identifies "number of patient visits" as a discrete random variable and explains reasoning clearly.)
Calculation of probabilities (uses the probabilities correctly in the calculation, showing all steps clearly and logically)
Expected value calculation (calculate the expected value (mean)…
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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