Basic Business Statistics, Student Value Edition (13th Edition)
13th Edition
ISBN: 9780321946393
Author: Mark L. Berenson, David M. Levine, Kathryn A. Szabat
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Question
Chapter 4, Problem 65PS
a.
To determine
Determine the
b.
To determine
Compare the probability obtained in part (a) to the probability that a small business owner uses accounting software and comment on the statement.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
In addition to the in-school milk supplement program, the nurse would like to increase the use of daily vitamin supplements for the children by visiting homes and educating about the merits of vitamins. She believes that currently, about 50% of families with school-age children give the children a daily megavitamin. She would like to increase this to 70%. She plans a two-group study, where one group serves as a control and the other group receives her visits. How many families should she expect to visit to have 80% power of detecting this difference? Assume that drop-out rate is 5%.
A recent survey of 400 americans asked whether or not parents do too much for their young adult children. The results of the survey are shown in the data file. a) Construct the frequency and relative frequency distributions. How many respondents felt that parents do too much for their adult children? What proportion of respondents felt that parents do too little for their adult children? b) Construct a pie chart. Summarize the findings
The average number of minutes Americans commute to work is 27.7 minutes (Sterling's Best Places, April 13, 2012). The average commute time in minutes for 48 cities are as follows:
Click on the datafile logo to reference the data.
DATA file
Albuquerque
23.3
Jacksonville
26.2
Phoenix
28.3
Atlanta
28.3
Kansas City
23.4
Pittsburgh
25.0
Austin
24.6
Las Vegas
28.4
Portland
26.4
Baltimore
32.1
Little Rock
20.1
Providence
23.6
Boston
31.7
Los Angeles
32.2
Richmond
23.4
Charlotte
25.8
Louisville
21.4
Sacramento
25.8
Chicago
38.1
Memphis
23.8
Salt Lake City
20.2
Cincinnati
24.9
Miami
30.7
San Antonio
26.1
Cleveland
26.8
Milwaukee
24.8
San Diego
24.8
Columbus
23.4
Minneapolis
23.6
San Francisco
32.6
Dallas
28.5
Nashville
25.3
San Jose
28.5
Denver
28.1
New Orleans
31.7
Seattle
27.3
Detroit
29.3
New York
43.8
St. Louis
26.8
El Paso
24.4
Oklahoma City
22.0
Tucson
24.0
Fresno
23.0
Orlando
27.1
Tulsa
20.1
Indianapolis
24.8
Philadelphia
34.2
Washington, D.C.
32.8
a. What is the mean commute time for…
Chapter 4 Solutions
Basic Business Statistics, Student Value Edition (13th Edition)
Ch. 4 - Three coins are tossed. a. Give an example of a...Ch. 4 - An urn contain 12 red balls and 8 white balls. One...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - For each of the following, indicate whether the...Ch. 4 - For each of the following, state whether the...Ch. 4 - Prob. 7PSCh. 4 - Do males or females feel more tense or stressed...Ch. 4 - Prob. 9PSCh. 4 - How will marketers change their social media use...
Ch. 4 - Referring to the contingency table in Problem...Ch. 4 - Prob. 12PSCh. 4 - Prob. 13PSCh. 4 - Prob. 14PSCh. 4 - Each year ratings are compiled concerning the...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - If P(AandB)=0.4andP(B)=0.8,findP(AB).Ch. 4 - Prob. 19PSCh. 4 - ...Ch. 4 - Do males or females feel more tense or stressed...Ch. 4 - Prob. 22PSCh. 4 - Prob. 23PSCh. 4 - Prob. 24PSCh. 4 - Prob. 25PSCh. 4 - Each year, rating are compiled concerning the...Ch. 4 - Prob. 27PSCh. 4 - A standard deck of cards is being used to play a...Ch. 4 - Prob. 29PSCh. 4 - ...Ch. 4 - ...Ch. 4 - In Example 4.10 to suppose that the probability...Ch. 4 - Prob. 33PSCh. 4 - Olive Construction Company is determining whether...Ch. 4 - Prob. 35PSCh. 4 - The editor of a textbook published company is...Ch. 4 - A municipal bond service has three rating...Ch. 4 - If there are 10 multiple-choice question on an...Ch. 4 - A lock on a bank vault consists of three dials,...Ch. 4 - a. If a coin is tossed seven times, how many...Ch. 4 - A particular brand of women’s jeans is available...Ch. 4 - Prob. 42PSCh. 4 - Prob. 43PSCh. 4 - Prob. 44PSCh. 4 - Referring to Problem 4.44 how many different...Ch. 4 - A gardener has six rows available in his vegetable...Ch. 4 - Prob. 47PSCh. 4 - Four member of a group of 10 people are to be...Ch. 4 - A student has seven books that she would like to...Ch. 4 - A daily lottery is conducted in which 2 winning...Ch. 4 - Prob. 51PSCh. 4 - What are the differences between a priori...Ch. 4 - What is the difference between a simple event and...Ch. 4 - How can you use the general addition rule to find...Ch. 4 - What is the difference between mutually exclusive...Ch. 4 - How does conditional probability relate to the...Ch. 4 - How does the multiplication rule differ for events...Ch. 4 - How can you use Bayes theorem in light of new...Ch. 4 - In Bayes’ theorem, how does the prior...Ch. 4 - A survey by the Health Research Institute at...Ch. 4 - SHL Americas provides a unique, global perspective...Ch. 4 - Prob. 62PSCh. 4 - Prob. 63PSCh. 4 - Prob. 64PSCh. 4 - Prob. 65PS
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
- Morningstar tracks the total return for a large number of mutual funds. The following table shows the total return and the number of funds for four categories of mutual funds. Click on the datafile logo to reference the data. DATA file Type of Fund Domestic Equity Number of Funds Total Return (%) 9191 4.65 International Equity 2621 18.15 Hybrid 1419 2900 11.36 6.75 Specialty Stock a. Using the number of funds as weights, compute the weighted average total return for these mutual funds. (to 2 decimals) % b. Is there any difficulty associated with using the "number of funds" as the weights in computing the weighted average total return in part (a)? Discuss. What else might be used for weights? The input in the box below will not be graded, but may be reviewed and considered by your instructor. c. Suppose you invested $10,000 in this group of mutual funds and diversified the investment by placing $2000 in Domestic Equity funds, $4000 in International Equity funds, $3000 in Specialty Stock…arrow_forwardThe days to maturity for a sample of five money market funds are shown here. The dollar amounts invested in the funds are provided. Days to Maturity 20 Dollar Value ($ millions) 20 12 30 7 10 5 6 15 10 Use the weighted mean to determine the mean number of days to maturity for dollars invested in these five money market funds (to 1 decimal). daysarrow_forwardc. What are the first and third quartiles? First Quartiles (to 1 decimals) Third Quartiles (to 4 decimals) × ☑ Which companies spend the most money on advertising? Business Insider maintains a list of the top-spending companies. In 2014, Procter & Gamble spent more than any other company, a whopping $5 billion. In second place was Comcast, which spent $3.08 billion (Business Insider website, December 2014). The top 12 companies and the amount each spent on advertising in billions of dollars are as follows. Click on the datafile logo to reference the data. DATA file Company Procter & Gamble Comcast Advertising ($billions) $5.00 3.08 2.91 Company American Express General Motors Advertising ($billions) $2.19 2.15 ETET AT&T Ford Verizon L'Oreal 2.56 2.44 2.34 Toyota Fiat Chrysler Walt Disney Company J.P Morgan a. What is the mean amount spent on advertising? (to 2 decimals) 2.55 b. What is the median amount spent on advertising? (to 3 decimals) 2.09 1.97 1.96 1.88arrow_forward
- Martinez Auto Supplies has retail stores located in eight cities in California. The price they charge for a particular product in each city are vary because of differing competitive conditions. For instance, the price they charge for a case of a popular brand of motor oil in each city follows. Also shown are the number of cases that Martinez Auto sold last quarter in each city. City Price ($) Sales (cases) Bakersfield 34.99 501 Los Angeles 38.99 1425 Modesto 36.00 294 Oakland 33.59 882 Sacramento 40.99 715 San Diego 38.59 1088 San Francisco 39.59 1644 San Jose 37.99 819 Compute the average sales price per case for this product during the last quarter? Round your answer to two decimal places.arrow_forwardConsider the following data and corresponding weights. xi Weight(wi) 3.2 6 2.0 3 2.5 2 5.0 8 a. Compute the weighted mean (to 2 decimals). b. Compute the sample mean of the four data values without weighting. Note the difference in the results provided by the two computations (to 3 decimals).arrow_forwardExpert only,if you don't know it don't attempt it, no Artificial intelligence or screen shot it solvingarrow_forward
- For context, the image provided below is a quesion from a Sepetember, 2024 past paper in statistical modelingarrow_forwardFor context, the images attached below (the question and the related figure) is from a january 2024 past paperarrow_forwardFor context, the image attached below is a question from a June 2024 past paper in statisical modelingarrow_forward
- For context, the images attached below are a question from a June, 2024 past paper in statistical modelingarrow_forwardFor context, the images attached below (question and related graph) are from a February 2024 past paper in statistical modelingarrow_forwardFor context, the images attached below are from a February 2024 past paper in statistical modelingarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Hypothesis Testing - Solving Problems With Proportions; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=76VruarGn2Q;License: Standard YouTube License, CC-BY
Hypothesis Testing and Confidence Intervals (FRM Part 1 – Book 2 – Chapter 5); Author: Analystprep;https://www.youtube.com/watch?v=vth3yZIUlGQ;License: Standard YouTube License, CC-BY