Basic Business Statistics, Student Value Edition (13th Edition)
13th Edition
ISBN: 9780321946393
Author: Mark L. Berenson, David M. Levine, Kathryn A. Szabat
Publisher: PEARSON
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Chapter 5, Problem 48PS
a.
To determine
Find the
b.
To determine
Find the probability that there will be at least one growth fund.
c.
To determine
Find the probability that there will be 3 growth funds.
d.
To determine
Compare the above results with the results of the Problem 5.7.
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mville.brightspace.com
onomic Statistics
our grade, can be done as a 2 people's group)
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Due date Sunday, 12/08/202 through Brightspace portal.
College students' physical, emotional, and mental health are at the forefront of many national
discussions and statistical studies. Many factors can influence students' overall health,
including diet, sleep, exercise, social media usage, etc. In this project, you will look at real data
gathered from 30 college students and determine related descriptive and inferential statistics.
Please use MS Excel (see attached file) to collect your data and complete the assignment.
The students surveyed were asked the following questions:
On a typical weekday,
Are you an on-campus student or a commuter?
How many hours of sleep do you get?
How many hours do you study?
How many calories do you intake?
How many hours do you exercise?
How many hours do you spend on social media?
How many hours do you spend with your friends and family…
Is the area to the right of the left-tail critical value Chi-squared(1-alpha) of the chi-squared distribution always (1-alpha), and is the area to the left of this critical value always alpha? Does this apply to all chi-squared distributions?Please see image attached
Set up a free RStudio account at posit.cloud. At the start of your R session, you should enter the following commands.
set.seed(1)
e<-rnorm(n = 100,mean = 0,sd = 80)
x<-seq(1,100,1)
y<-10+15*x + e
Follow the examples in the Panopto Videos to use R to obtain the values requested below. (As always, if you round your answers, make sure you do so correctly and keep at least
three decimal places.)
(a) The smallest value of y =
(b) The largest value of y =
(c) The standard deviation of y =
(d) The mean of y =
(e) The median of y =
(f) The correlation between x and y =
:
(g) Using the variable e as data, the p-value for a test of Hoμ = 0 vs. HA μ0 is
Chapter 5 Solutions
Basic Business Statistics, Student Value Edition (13th Edition)
Ch. 5 - Given the following probability distribution: a....Ch. 5 - Prob. 2PSCh. 5 - Recently , a regional automobile dealership sent...Ch. 5 - In the carnival game Under-or -Over-Seven, a pair...Ch. 5 - Prob. 5PSCh. 5 - Prob. 6PSCh. 5 - Prob. 7PSCh. 5 - Given the following probability distribution for...Ch. 5 - Prob. 9PSCh. 5 - The process of being served at a bank consists of...
Ch. 5 - In the portfolio example in this section (see page...Ch. 5 - Prob. 12PSCh. 5 - Prob. 13PSCh. 5 - Prob. 14PSCh. 5 - Suppose that in Example 5.1 on page 193, you...Ch. 5 - Prob. 16PSCh. 5 - Suppose that in Problem 5.16 you wanted to create...Ch. 5 - Determine the following:...Ch. 5 - Prob. 19PSCh. 5 - Determine the mean and standard deviation of the...Ch. 5 - The increase or decrease in the price of a stock...Ch. 5 - Prob. 22PSCh. 5 - Prob. 23PSCh. 5 - A manufacturing company regularly conducts quality...Ch. 5 - When a customer places an order with Rudy’s...Ch. 5 - Prob. 26PSCh. 5 - In Example 5.5 on page 200, you and two friends...Ch. 5 - Assume a Poisson distribution....Ch. 5 - Assume a Poisson distribution....Ch. 5 - Assume a Poisson distribution with =5.0. What is...Ch. 5 - Prob. 31PSCh. 5 - The quality control manager of Marilyn’s Cookies...Ch. 5 - Refer to Problem 5.22. How many cookies in a batch...Ch. 5 - Prob. 34PSCh. 5 - Prob. 35PSCh. 5 - The Consumer Financial Protection Bureau’s...Ch. 5 - J.D. Power and Associates calculates and publishes...Ch. 5 - Prob. 38PSCh. 5 - Prob. 39PSCh. 5 - Refer to Problem 5.27. if you purchased a Toyota...Ch. 5 - A toll-free phone number is available from 9 A.M....Ch. 5 - Prob. 42PSCh. 5 - Prob. 43PSCh. 5 - An auditor for the Internal Revenue Service is...Ch. 5 - Prob. 45PSCh. 5 - Prob. 46PSCh. 5 - Prob. 47PSCh. 5 - Prob. 48PSCh. 5 - Prob. 49PSCh. 5 - What are the four properties that must be present...Ch. 5 - Prob. 51PSCh. 5 - Prob. 52PSCh. 5 - Darwin Head, a 35-year-old sawmill worker, won 1...Ch. 5 - Between 1896-when the Dow Jones index was...Ch. 5 - Smartphone adoption among American teens has...Ch. 5 - One theory concerning the Dow jones industrial...Ch. 5 - Prob. 57PSCh. 5 - Prob. 58PSCh. 5 - Social log-ins involve recommending of sharing an...Ch. 5 - The Consumer Financial Protection Bureau’s...Ch. 5 - Prob. 61PSCh. 5 - One theory concerning the...Ch. 5 - Spurious correlation refers to the apparent...Ch. 5 - Prob. 64PSCh. 5 - Prob. 65PS
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- Does Chi-squared(alpha) always represent the right tail of the the chi-square distribution and does Chi-squared(1-alpha) always represent the left tail of the the chi-square distribution. Also, for a standard normal distribution would Z(1-alpha) be equivalent to -Zalpha in represneting the left tail of the standard normal distribution curve because they both have the same z-score. Furthermore, is my understanding correct in the sense that if we have a critical value,say Zalpha, would the area to the right of it will be alpha and to the left of it would be 1-alphaarrow_forwardOne bulb manufacturer claims an average bulb life of 1,600 hours. It is suspected that the actual average is significantly lower. To verify this, a sample of 49 bulbs is selected and the life of each bulb is measured. A sample mean of 1,500 hours and a standard deviation of 120 hours were obtained from them. Can you be sure, at 5% significance, that the mean life is less than what the manufacturer claims?arrow_forwardThe specification calls for the dimension of a certain mechanical part to be 0.55 inches. A random sample of 35 parts taken from a large batch showed a mean 0.54 in. with a deviation of 0.05 in. Can it be concluded, at 1% significance, that the batch of parts meets the required specification?arrow_forward
- A manufacturer produces a wire rope of a certain type, which has a breaking strength of not more than 300 kg. A new and cheaper process is discovered which is desired to be employed, provided that the wire rope thus produced has an average breaking strength greater than 300 kg. If a random sample of 26 wires produced with the new process has given a mean of 304.5 kg and a standard deviation of 15 kg, should the manufacturer adopt the new process?arrow_forwardWe are interested in whether the proportions of female suicide victims for ages 15 to 24 are the same between the white and the black races in the United States. We randomly pick one year to compare the races. The number of suicides estimated in the United States in that year for white females is 4,930. Five hundred eighty-three were aged 15 to 24. The estimate for black females is 330. Forty-one were aged 15 to 24. We will let female suicide victims be our population. (Use α = 0.05.) NOTE: If you are using a Student's t-distribution for the problem, including for paired data, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption, though.) Part (a) State the null hypothesis. ○ Ho: PW> PB O Ho: PW + PB Ho: Pw≤ PB Ho: PW-PB ○ Ho: Pw PB Part (c) In words, state what your random variable P'w-P'B represents. P'w-P'B represents the average difference of white and black female suicide victims, aged 15 to 24. ○ P'w-P'B…arrow_forwardplease solve this problem step by step and make it quick pleasearrow_forward
- please solve this problem step by step and make it quick pleasearrow_forward8.67 Free recall memory strategy. Psychologists who study ①memory often use a measure of "free recall" (e.g., the RECALL number of correctly recalled items in a list of to-be- remembered items). The strategy used to memorize the list-for example, category clustering-is often just as important. Researchers at Central Michigan University developed an algorithm for computing measures of cat- egory clustering in Advances in Cognitive Psychology (Oct. 2012). One measure, called ratio of repetition, was recorded for a sample of 8 participants in a memory study. These ratios are listed in the table. Test the theory that the average ratio of repetition for all participants in a similar memory study differs from .5. Select an appropriate Type I error rate for your test. .25 .43 .57 .38 .38 .60 .47 .30 Source: Senkova, O., & Otani, H. "Category clustering calculator for free recall." Advances in Cognitive Psychology, Vol. 8, No. 4, Oct. 2012 (Table 3).arrow_forward8.64 Radon exposure in Egyptian tombs. Refer to the D Radiation Protection Dosimetry (Dec. 2010) study TOMBS of radon exposure in Egyptian tombs, Exercise 7.39 (p. 334). The radon levels-measured in becquerels per cubic meter (Bq/m³)-in the inner chambers of a sam- ple of 12 tombs are listed in the table. For the safety of the guards and visitors, the Egypt Tourism Authority (ETA) will temporarily close the tombs if the true mean level of radon exposure in the tombs rises to 6,000 Bq/m³. Consequently, the ETA wants to conduct a test to deter- mine if the true mean level of radon exposure in the tombs is less than 6,000 Bq/m³, using a Type I error probabil- ity of .10. A SAS analysis of the data is shown on p. 399. Specify all the elements of the test: Ho, Ha, test statistic, p-value, a, and your conclusion. 50 390 910 12100 180 580 7800 4000 3400 1300 11900 1100 N Mean Std Dev Std Err Minimum Maximum 12 3642.5 4486.9 1295.3 50.0000 12100.0arrow_forward
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