Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 5, Problem 1SR
a.
To determine
Identify the experiment in the given situation.
a.
Expert Solution
Explanation of Solution
Experiment: It is the process in which it leads to exactly one occurrence among different possible results.
Here, the playability of a new video game is tested by 80 veteran game players. Hence, the experiment is to count number of players who identify that the new video game is playable.
b.
To determine
Identify the one possible outcome.
b.
Expert Solution
Explanation of Solution
Answers will vary. One of the possible answers is given below.
Outcome: It is a particular result of an experiment.
Consider, 60 veteran players identify the new video game as playable. Thus, one of the possible outcomes of the experiment is 60 veteran players.
c.
To determine
Check whether 65 represents
c.
Expert Solution
Answer to Problem 1SR
No, 65 does not represent probability.
Explanation of Solution
The value of probability lies between 0 and 1, inclusive. Here, 65 is greater than 1. Out of 80 veteran players, 65 players think that the new video game is playable. That is, when the new video game is in to market, there is
Hence, 65 does not represent probability.
d.
To determine
Comment on the probability value −1.
d.
Expert Solution
Explanation of Solution
The value of probability lies between 0 and 1, inclusive. Here, −1is less than 0. Hence it is not possible to have the probability value as −1.
e.
To determine
Specify a possible
e.
Expert Solution
Explanation of Solution
Answers will vary. One of the possible answers is given below.
Event: It is defined as the collection of all possible outcomes in an experiment.
In the given experiment, the event can be “More than three-fourth of the players liked the game”.
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Chapter 5 Solutions
Statistical Techniques in Business and Economics
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