Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card
6th Edition
ISBN: 9781337589383
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
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Textbook Question
Chapter 4.2, Problem 20E
Junior Achievement USA and the Allstate Foundation surveyed teenagers aged 14 to 18 and asked at what age they think that they will become financially independent (USA Today, April 30, 2012). The responses of 944 teenagers who answered this survey question are as follows.
Age Financially Independent | Number of Responses |
16 to 20 | 191 |
21 to 24 | 467 |
25 to 27 | 244 |
28 or older | 42 |
Consider the experiment of randomly selecting a teenager from the population of teenagers aged 14 to 18.
- a. Compute the
probability of being financially independent for each of the four age categories. - b. What is the probability of being financially independent before the age of 25?
- c. What is the probability of being financially independent after the age of 24?
- d. Do the probabilities suggest that the teenagers may be somewhat unrealistic in their expectations about when they will become financially independent?
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Chapter 4 Solutions
Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card
Ch. 4.1 - 1. An experiment has three steps with three...Ch. 4.1 - 2. How many ways can three items be selected from...Ch. 4.1 - 3. How many permutations of three items can be...Ch. 4.1 - Prob. 4ECh. 4.1 - 5. Suppose an experiment has five equally likely...Ch. 4.1 - Prob. 6ECh. 4.1 - Prob. 7ECh. 4.1 - 8. In the city of Milford, applications for zoning...Ch. 4.1 - Prob. 9ECh. 4.1 - 10. The following table shows the percentage of...
Ch. 4.1 - Tri-State Smokers. A Gallup Poll of U.S. adults...Ch. 4.1 - 12. The Powerball lottery is played twice each...Ch. 4.1 - 13. A company that manufactures toothpaste is...Ch. 4.2 - 14. An experiment has four equally likely...Ch. 4.2 - 15. Consider the experiment of selecting a playing...Ch. 4.2 - 16. Consider the experiment of rolling a pair of...Ch. 4.2 - 17. Refer to the KP&L sample points and sample...Ch. 4.2 - Prob. 18ECh. 4.2 - 19. Do you think global warming will have an...Ch. 4.2 - 20. Junior Achievement USA and the Allstate...Ch. 4.2 - 21. Data on U.S. work-related fatalities by cause...Ch. 4.3 - 22. Suppose that we have a sample space with five...Ch. 4.3 - Prob. 23ECh. 4.3 - Prob. 24ECh. 4.3 - 25. The Eco Pulse survey from the marketing...Ch. 4.3 - Prob. 26ECh. 4.3 - Social Media Use. A marketing firm would like to...Ch. 4.3 - 28. A survey of magazine subscribers showed that...Ch. 4.3 - 29. High school seniors with strong academic...Ch. 4.4 - 30. Suppose that we have two events, A and B, with...Ch. 4.4 - 31. Assume that we have two events, A and B, that...Ch. 4.4 - Living with Family. Consider the following example...Ch. 4.4 -
Students taking the Graduate Management...Ch. 4.4 - Prob. 34ECh. 4.4 - 35. To better understand how husbands and wives...Ch. 4.4 - 36. Jamal Crawford of the National Basketball...Ch. 4.4 - 37. A joint survey by Parade magazine and Yahoo!...Ch. 4.4 - 38. The Institute for Higher Education Policy, a...Ch. 4.5 - 39. The prior probabilities for events A1 and A2...Ch. 4.5 - 40. The prior probabilities for events A1, A2, and...Ch. 4.5 - 41. A consulting firm submitted a bid for a large...Ch. 4.5 - Prob. 42ECh. 4.5 - 43. In August 2012, tropical storm Isaac formed in...Ch. 4.5 - Prob. 44ECh. 4.5 - 45. The percentage of adult users of the Internet...Ch. 4 - 46. A survey of adults aged 18 and older conducted...Ch. 4 - Prob. 47SECh. 4 -
Below are the results of a survey of 1364...Ch. 4 - 49. A study of 31,000 hospital admissions in New...Ch. 4 - 50. A telephone survey to determine viewer...Ch. 4 - 51. The U.S. Census Bureau serves as the leading...Ch. 4 - 52. An MBA new-matriculants survey provided the...Ch. 4 - Prob. 53SECh. 4 - 54. In February 2012, the Pew Internet & American...Ch. 4 - 55. A large consumer goods company ran a...Ch. 4 - Prob. 56SECh. 4 - 57. A company studied the number of lost-time...Ch. 4 - Prob. 58SECh. 4 - 59. An oil company purchased an option on land in...Ch. 4 - 60. The five most common words appearing in spam...Ch. 4 - Rob’s Market (RM) is a regional food store chain...
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