Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 4.6, Problem 63E
Compute the probability of 7 successes in a random sample of size n = 14 obtained from a population of size N = 30 that contains 15 successes.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
A sample of n=400 observations is drawn from a population with mean μ=1,000 and σ=400. Find the following probabilities:
P(x<1050)is:
A large consumer goods company ran a television advertisement for one of its soap products. On the basis of a survey that was conducted, probabilities were
assigned to the following events.
B = individual purchased the product
S = individual recalls seeing the advertisement
BnS = individual purchased the product and recalls seeing the advertisement
The probabilities assigned were P(B) = 0.20, P(S) = 0.40, and P(BS) = 0.12.
a. What is the probability of an individual's purchasing the product given that the individual recalls seeing the advertisement (to 1 decimal)?
Does seeing the advertisement increase the probability that the individual will purchase the product?
- Select your answer -
As a decision maker, would you recommend continuing the advertisement (assuming that the cost is reasonable)?
- Select your answer -
+
b. Assume that individuals who do not purchase the company's soap product buy from its competitors. What would be your estimate of the company's market
share (to the…
Suppose N = 15 and r = 4.
What is the probability of x = 3 for n =
10 (to 4 decimals)?
Chapter 4 Solutions
Statistics for Business and Economics
Ch. 4.1 - Prob. 1ECh. 4.1 - Prob. 2ECh. 4.1 - Prob. 3ECh. 4.1 - Prob. 4ECh. 4.1 - Prob. 5ECh. 4.1 - Prob. 6ECh. 4.1 - Prob. 7ECh. 4.1 - Prob. 8ECh. 4.2 - Prob. 9ECh. 4.2 - Prob. 10E
Ch. 4.2 - Show the probability distribution function of the...Ch. 4.2 - Prob. 12ECh. 4.2 - Prob. 13ECh. 4.2 - Prob. 14ECh. 4.3 - Prob. 15ECh. 4.3 - Prob. 16ECh. 4.3 - Prob. 17ECh. 4.3 - Prob. 18ECh. 4.3 - Prob. 19ECh. 4.3 - Prob. 20ECh. 4.3 - Prob. 21ECh. 4.3 - Prob. 22ECh. 4.3 - Prob. 23ECh. 4.3 - Prob. 24ECh. 4.3 - Prob. 25ECh. 4.3 - Prob. 26ECh. 4.3 - A store owner stocks an out-of-town newspaper that...Ch. 4.3 - Prob. 28ECh. 4.3 - Prob. 29ECh. 4.4 - Prob. 30ECh. 4.4 - Prob. 31ECh. 4.4 - Prob. 32ECh. 4.4 - Prob. 33ECh. 4.4 - Prob. 34ECh. 4.4 - Prob. 35ECh. 4.4 - Prob. 36ECh. 4.4 - Prob. 37ECh. 4.4 - Prob. 38ECh. 4.4 - Prob. 39ECh. 4.4 - Prob. 40ECh. 4.4 - Prob. 41ECh. 4.4 - Prob. 42ECh. 4.4 - Prob. 43ECh. 4.4 - Prob. 44ECh. 4.4 - Prob. 45ECh. 4.4 - Prob. 46ECh. 4.4 - Prob. 47ECh. 4.4 - Prob. 48ECh. 4.4 - A company receives large shipments of parts from...Ch. 4.5 - Prob. 50ECh. 4.5 - Prob. 51ECh. 4.5 - Prob. 52ECh. 4.5 - Prob. 53ECh. 4.5 - Prob. 54ECh. 4.5 - Prob. 55ECh. 4.5 - Prob. 56ECh. 4.5 - Prob. 57ECh. 4.5 - Prob. 58ECh. 4.5 - Prob. 59ECh. 4.5 - Prob. 60ECh. 4.5 - Prob. 61ECh. 4.5 - Prob. 62ECh. 4.6 - Compute the probability of 7 successes in a random...Ch. 4.6 - Compute the probability of 9 successes in a random...Ch. 4.6 - Compute the probability of 3 successes in a random...Ch. 4.6 - Compute the probability of 8 successes in a random...Ch. 4.6 - Prob. 67ECh. 4.6 - Prob. 68ECh. 4.6 - Prob. 69ECh. 4.6 - Prob. 70ECh. 4.7 - Prob. 71ECh. 4.7 - Prob. 72ECh. 4.7 - Prob. 73ECh. 4.7 - Prob. 74ECh. 4.7 - Prob. 75ECh. 4.7 - Prob. 76ECh. 4.7 - Prob. 77ECh. 4.7 - Prob. 78ECh. 4.7 - Prob. 79ECh. 4.7 - Prob. 80ECh. 4.7 - Prob. 81ECh. 4.7 - Prob. 82ECh. 4.7 - Prob. 83ECh. 4.7 - Prob. 84ECh. 4 - Prob. 85ECh. 4 - Prob. 86ECh. 4 - Prob. 87ECh. 4 - Prob. 88ECh. 4 - Prob. 89ECh. 4 - Prob. 90ECh. 4 - Prob. 91ECh. 4 - Prob. 92ECh. 4 - Prob. 93ECh. 4 - Prob. 94ECh. 4 - Prob. 95ECh. 4 - Prob. 96ECh. 4 - Prob. 97ECh. 4 - Prob. 98ECh. 4 - Prob. 99ECh. 4 - Prob. 100ECh. 4 - Consider a country that imports steel and exports...Ch. 4 - Prob. 102ECh. 4 - Prob. 103ECh. 4 - Prob. 104ECh. 4 - Prob. 105ECh. 4 - Prob. 106E
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- The number of pizzas consumed per month by university students is normally distributed with a mean of 6 and a standard deviation of 5. 1) What proportion of students consume more than 8 pizzas per month? 2) What is the probability that in a random sample of size 11, a total of more than 77 pizzas are consumed?arrow_forwardThe weights of newborn baby boys born at a local hospital are believed to have a normal distribution with a mean weight of 3939 grams and a standard deviation of 555 grams. If a newborn baby boy born at the local hospital is randomly selected, find the probability that the weight will be less than 4771 grams. Round your answer to four decimal places.arrow_forwardAmericans spend an average of 23.6 hours per week online, with a standard deviation of 7. The distribution of internet watching is not necessarily normally distributed. Suppose you took a random sample of 50 people. What is the probability that the sample average will be less than 23 hrs? Round your answer to three decimal places, eg 0.628.arrow_forward
- A researcher believes that 8% of pet dogs in Europe are Labradors. If the researcher is right, what is the probability that the proportion of Labradors in a sample of 630 pet dogs would be greater than 7%? Round your answer to four decimal places.arrow_forwardGiven a sample with a mean of 57 and a standard deviation of 14, find x such that Pr(X > x) = 0.715. Round your answer to two decimal places, e.g. 22.96.arrow_forwardTwo teaching methods for a statistics class, online and face-to-face, are available during the course of an academic year. To date, 1 out of every 25 students has failed the online class and 3 out of every 50 students have failed the face-to-face class. However, the online class is only offered 10% of the time due to faculty constraints and the face-to-face class is offered the other 90% of the time. What is the probability that a student who failed the course took the class online? Round your answer to four decimal places. (Do not round intermediate values.)arrow_forward
- A local university has a student population that is 57% male. 64% of the students are undergraduates; 40% are both male and undergraduates. What is the probability that a randomly selected student is either male or an undergraduate?arrow_forwardA store sells from 0 to 12 computers per day. Is the amount of daily computer sales a discrete or continuous random variable?arrow_forwardA small retail store has customers whose ages are normally distributed, with a mean of 37.5 and a standard deviation of 7.6. What is the probability that a randomly selected customer is younger than 25 years old? Round your answer to three decimal places, e.g. 0.685.arrow_forward
- Given a sample with a mean of 151 and a standard deviation of 27, find the probability that a randomly selected value from the sample will be less than 187.0. Round your answer to 3 decimal places, e.g. 0.194. Pr(X < 187.0)arrow_forwardAccording to an IRS study, it takes a mean of 330 minutes for taxpayers to prepare, copy, and electronically file a 1040 tax form. This distribution of times follows the normal distribution and the standard deviation is 80 minutes. A consumer watchdog agency selects a random sample of 40 taxpayers. What is the probability that the sampling error would be more than 20 minutes?arrow_forwardI'm assuming for this problem I need to find the z-score first then find the value on the distribution chart?The mean number of calories consumer per day for females aged 27 is 2725 with a standard deviation of 277. If a simple random sample of 100 females is selected, what is the probability that the mean number of calories ingested is more than 2800?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education
Decision Tree Analysis - Intro and Example with Expected Monetary Value; Author: Vincent Stevenson;https://www.youtube.com/watch?v=cbCsCQ4l4Zs;License: Standard Youtube License