Understanding Basic Statistics
7th Edition
ISBN: 9781305254060
Author: Charles Henry Brase, Corrinne Pellillo Brase
Publisher: Cengage Learning
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Chapter 5, Problem 18CR
Scheduling: College Courses A student must satisfy the literature, social science, and philosophy requirements this semester. There are four literature courses to select from, three social science courses, and two philosophy courses. Make a tree diagram showing all the possible sequences of literature, social science, and philosophy courses.
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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…
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, $3000 in Specialty Stock…
The days to maturity for a sample of five money market funds are shown here. The dollar amounts invested in the funds are provided.
Days to
Maturity
20
Dollar Value
($ 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).
days
Chapter 5 Solutions
Understanding Basic Statistics
Ch. 5.1 - Statistical Literacy List three methods of...Ch. 5.1 - Prob. 2PCh. 5.1 - Statistical Literacy What is the probability of...Ch. 5.1 - Statistical Literacy What is the law of large...Ch. 5.1 - Interpretation A Harris Poll indicated that of...Ch. 5.1 - Interpretation According to a recent Harris Poll...Ch. 5.1 - Basic Computation: Probability as Relative...Ch. 5.1 - Basic Computation: Probability of Equally Likely...Ch. 5.1 - Interpretation An investment opportunity boasts...Ch. 5.1 - Interpretation A sample space consists of 4 simple...
Ch. 5.1 - Critical Thinking Consider a family with three...Ch. 5.1 - Critical Thinking Consider the experiment of...Ch. 5.1 - Critical Thinking On a single toss of a fair coin,...Ch. 5.1 - Critical Thinking (a) Explain why -0.41 cannot be...Ch. 5.1 - Myers-Briggs: Personality Types Isabel Briggs...Ch. 5.1 - General: Roll a Die (a) If you roll a single fair...Ch. 5.1 - Psychology: Creativity When do creative people get...Ch. 5.1 - Agriculture: Cotton A botanist has developed a new...Ch. 5.1 - Expand Your Knowledge: Odds in Favor Sometimes...Ch. 5.1 - Expand Your Knowledge: Odds Against Betting odds...Ch. 5.1 - Business: Customers John runs a computer software...Ch. 5.2 - Statistical Literacy If two events are mutually...Ch. 5.2 - Statistical Literacy If two events A and B are...Ch. 5.2 - Basic Computation: Addition Rule Given P(A)=0.3...Ch. 5.2 - Basic Computation: Addition Rule Given P(A)=0.7...Ch. 5.2 - Basic Computation: Multiplication Rule Given...Ch. 5.2 - Basic Computation: Multiplication Rule Given...Ch. 5.2 - Basic Computation: Rules of Probability Given...Ch. 5.2 - Basic Computation: Rules of Probability Given...Ch. 5.2 - Critical Thinking Lisa is making up questions for...Ch. 5.2 - Critical Thinking Greg made up another question...Ch. 5.2 - Critical Thinking Suppose two events A and B are...Ch. 5.2 - Critical Thinking Suppose two events A and B are...Ch. 5.2 - Critical Thinking Consider the following events...Ch. 5.2 - Critical Thinking Consider the following events...Ch. 5.2 - General: Candy Colors MM plain candies come in...Ch. 5.2 - Environmental: Land Formations Arches National...Ch. 5.2 - General: Roll Two Dice You roll two fair dice, a...Ch. 5.2 - General: Roll Two Dice You roll two fair dice, a...Ch. 5.2 - General: Roll Two Dice You roll two fair dice, a...Ch. 5.2 - General: Roll Two Dice You roll two fair dice, a...Ch. 5.2 - General: Deck of Cards You draw two cards from a...Ch. 5.2 - General: Deck of Cards You draw two cards from a...Ch. 5.2 - General: Deck of Cards You draw two cards from a...Ch. 5.2 - General: Deck of Cards You draw two cards from a...Ch. 5.2 - Marketing: ToysUSA Today gave the information...Ch. 5.2 - Health Care: Flu Based on data from the...Ch. 5.2 - Focus Problem: Lie Detector Test In this problem,...Ch. 5.2 - Survey: Medical Tests Diagnostic tests of medical...Ch. 5.2 - Survey: Lung/Hear t In an article titled...Ch. 5.2 - Survey: Customer Loyalty Are customers more loyal...Ch. 5.2 - Survey: Sales Approach In a sales effectiveness...Ch. 5.3 - Statistical Literacy What is the main difference...Ch. 5.3 - Statistical Literacy Consider a series of events....Ch. 5.3 - Critical Thinking For each of the following...Ch. 5.3 - Critical Thinking You need to know the number of...Ch. 5.3 - TreeDiagram (a) Draw a tree diagram to display all...Ch. 5.3 - TreeDiagram (a) Draw a tree diagram to display all...Ch. 5.3 - Tree Diagram There are six balls in an urn. They...Ch. 5.3 - Prob. 8PCh. 5.3 - Multiplication Rule for Counting Four wires (red,...Ch. 5.3 - Multiplication Rule for Counting A sales...Ch. 5.3 - Counting: Agriculture Barbara is a research...Ch. 5.3 - Counting: Outcomes You toss a pair of dice. (a)...Ch. 5.3 - Compute P5,2.Ch. 5.3 - Compute P8,3.Ch. 5.3 - Compute P7,7.Ch. 5.3 - Compute P9,9.Ch. 5.3 - Compute C5,2.Ch. 5.3 - Compute C8,3.Ch. 5.3 - Compute C7,7.Ch. 5.3 - Compute C8,8.Ch. 5.3 - Counting: Hiring There are three nursing positions...Ch. 5.3 - Counting: Lottery In the Cash Now lottery game...Ch. 5.3 - Counting: Sports The University of Montana ski...Ch. 5.3 - Counting: Sales During the Computer Daze special...Ch. 5.3 - Counting: Hiring There are 15 qualified applicants...Ch. 5.3 - Counting: Grading One professor grades homework by...Ch. 5.3 - Counting: Hiring The qualified applicant pool for...Ch. 5.3 - Prob. 28PCh. 5 - StatisticalLiteracy Consider the following two...Ch. 5 - Statistical Literacy If two events A and B are...Ch. 5 - Statistical Literacy If two events A and B are...Ch. 5 - Interpretation You are considering two facial...Ch. 5 - Interpretation You are applying for two jobs, and...Ch. 5 - Critical Thinking You are given the information...Ch. 5 - Critical Thinking You are given the information...Ch. 5 - Critical Thinking For a class activity, your group...Ch. 5 - Salary Raise: Women Does it pay to ask for a...Ch. 5 - Prob. 10CRCh. 5 - General: Thumbtack Drop a thumbtack and observe...Ch. 5 - Survey: Reaction to Poison Ivy Allergic reactions...Ch. 5 - General: Two Dice In a game of craps, you roll two...Ch. 5 - Academic: Passing French Class records at Rockwood...Ch. 5 - Combination: City Council There is money to send...Ch. 5 - Basic Computation Compute....Ch. 5 - Counting: Exam Answers There are five...Ch. 5 - Scheduling: College Courses A student must satisfy...Ch. 5 - General: Combination Lock To open a combination...Ch. 5 - General: Combination Lock You have a combination...
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