Statistics for Business and Economics (13th Edition)

13th Edition

ISBN: 9780134506593

Author: James T. McClave, P. George Benson, Terry Sincich

Publisher: PEARSON

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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Textbook Question

Chapter 4.8, Problem 4.139ACB

Load on timber beams. Timber beams are widely used in home construction. When the load (measured in pounds) per unit length has a constant value over part of a beam, the load is said to be uniformly distributed over that part of the beam. Uniformly distributed beam loads were used to derive the stiffness distribution of the beam in the American Institute of Aeronautics and Astronautics Journal (May 2013). Consider a cantilever beam with a uniformly distributed load between 100 and 115 pounds per linear foot.

a. What is the probability that a beam load exceeds 110 pounds per linear foot?
b. What is the probability that a beam load is less than 102 pounds per linear foot?
c. Find a value L such that the probability that the beam load exceeds L is only .1.

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Chapter 4.8, Problem 4.8AE

Chapter 4.8, Problem 4.140ACB

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Chapter 4 Solutions

Statistics for Business and Economics (13th Edition)

Ch. 4.1 - Types of random variables. Which of the following...Ch. 4.1 - Types of finance random variables. Security...Ch. 4.1 - NHTSA crash tests. Refer to the National Highway...Ch. 4.1 - Customers in line at a Subway shop. The number of...Ch. 4.1 - Executive pay. Refer to Glassdoor Economic...Ch. 4.1 - Banking. Give an example of a discrete random...Ch. 4.1 - Economics. Give an example of a continuous random...Ch. 4.1 - Hotel management. Give an example of a discrete...Ch. 4.1 - Retailing. Give two examples of discrete random...Ch. 4.1 - Stock market. Give an example of a continuous...

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