Introductory Statistics
1st Edition
ISBN: 9781938168208
Author: Barbara Illowsky, Susan Dean
Publisher: OpenStax College
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Chapter 5, Problem 54P
Use the following information to answer the next ten exercises. A customer service representative must spend different amounts of time with each customer to resolve various concerns. The amount of time spent with each customer can be modeled by the following distribution: X — Exp(0.2)
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A recent survey of 400 americans asked whether or not parents do too much for their young adult children. The results of the survey are shown in the data file. a) Construct the frequency and relative frequency distributions. How many respondents felt that parents do too much for their adult children? What proportion of respondents felt that parents do too little for their adult children? b) Construct a pie chart. Summarize the findings
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…
Chapter 5 Solutions
Introductory Statistics
Ch. 5 - Consider the function f(x)=18 for 0x8 0. Draw the...Ch. 5 - The data the follow are the number of passengers...Ch. 5 - A distribution is given as X ~U(0, 20). What is...Ch. 5 - The total duration of baseball games in the major...Ch. 5 - Suppose the time it takes a student to finish a...Ch. 5 - The amount of time a service technician needs to...Ch. 5 - The amount of time spouses shop for anniversary...Ch. 5 - The number of days ahead travelers purchase their...Ch. 5 - On average, a pair of running shoes can last 18...Ch. 5 - Suppose that the distance, in miles, that people...
Ch. 5 - Suppose that on a certain stretch of highway, cars...Ch. 5 - Suppose that the longevity of a light bulb is...Ch. 5 - In a small city the number of automobile accidents...Ch. 5 - Which type of distribution does the graph...Ch. 5 - Which type of distribution does the graph...Ch. 5 - Which type of distribution does the graph...Ch. 5 - What does the shaded area represent? P(_< x <_)...Ch. 5 - What does the shaded area represent? P(______...Ch. 5 - For a continuous probablity distribution, 0x15 ....Ch. 5 - What is the area under f(x) if the function is a...Ch. 5 - For a continuous probability distribution, 0x10 ....Ch. 5 - A continuous probability function is restricted to...Ch. 5 - f(x) for a continuous probability function is 15 ,...Ch. 5 - f(x) , a continuous probability function, is equal...Ch. 5 - Find the probability that x falls in the shaded...Ch. 5 - Find the probability that x falls in the shaded...Ch. 5 - Find the probability that x falls in the shaded...Ch. 5 - m:math display='block'>f(x), a continuous...Ch. 5 - Use the following information to answer the next...Ch. 5 - Use the following information to answer the next...Ch. 5 - Use the following information to answer the next...Ch. 5 - Use the following information to answer the next...Ch. 5 - Use the following information to answer the next...Ch. 5 - Use the following information to answer the next...Ch. 5 - the following information to answer the next ten...Ch. 5 - 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