EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Textbook Question
Chapter 5, Problem 65SE
A political action group is planning to interview home owners to assess the impact caused by a recent slump in housing prices. According to a Wall Street Journal/Harris Interactive Personal Finance poll, 26% of individuals aged 18–34, 50% of individuals aged 35–44, and 88% of individuals aged 55 and over are home owners (All Business website, January 23, 2008).
- a. How many people from the 18–34 age group must be sampled to find an expected number of at least 20 home owners?
- b. How many people from the 35–44 age group must be sampled to find an expected number of at least 20 home owners?
- c. How many people from the 55 and over age group must be sampled to find an expected number of at least 20 home owners?
- d. If the number of 18–34 year olds sampled is equal to the value identified in part (a), what is the standard deviation of the number who will be home owners?
- e. If the number of 35–44 year olds sampled is equal to the value identified in part (b), what is the standard deviation of the number who will be home owners?
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Chapter 5 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
Ch. 5.1 - Consider the experiment of tossing a coin twice....Ch. 5.1 - Consider the experiment of a worker assembling a...Ch. 5.1 - Three students scheduled interviews for summer...Ch. 5.1 - In January the U.S. unemployment rate dropped to...Ch. 5.1 - To perform a certain type of blood analysis, lab...Ch. 5.1 - Listed is a series of experiments and associated...Ch. 5.2 - The probability distribution for the random...Ch. 5.2 - The following data were collected by counting the...Ch. 5.2 - For unemployed persons in the United States, the...Ch. 5.2 - The percent frequency distributions of job...
Ch. 5.2 - A technician services mailing machines at...Ch. 5.2 - The two largest cable providers are Comcast Cable...Ch. 5.2 - A psychologist determined that the number of...Ch. 5.2 - The following table is a partial probability...Ch. 5.3 - The following table provides a probability...Ch. 5.3 - The following table provides a probability...Ch. 5.3 - The number of students taking the SAT has risen to...Ch. 5.3 - The American Housing Survey reported the following...Ch. 5.3 - The National Basketball Association (NBA) records...Ch. 5.3 - The probability distribution for damage claims...Ch. 5.3 - The following probability distributions of job...Ch. 5.3 - The demand for a product of Carolina Industries...Ch. 5.3 - Prob. 23ECh. 5.3 - The J. R. Ryland Computer Company is considering a...Ch. 5.4 - Given below is a bivariate distribution for the...Ch. 5.4 - A person is interested in constructing a...Ch. 5.4 - The Chamber of Commerce in a Canadian city has...Ch. 5.4 - PortaCom has developed a design for a high-quality...Ch. 5.4 - J.P. Morgan Asset Management publishes information...Ch. 5.4 - In addition to the information in exercise 29 on...Ch. 5.5 - Consider a binomial experiment with two trials and...Ch. 5.5 - Consider a binomial experiment with n = 10 and p =...Ch. 5.5 - Consider a binomial experiment with n = 20 and p =...Ch. 5.5 - A Harris Interactive survey for InterContinental...Ch. 5.5 - In San Francisco, 30% of workers take public...Ch. 5.5 - When a new machine is functioning properly, only...Ch. 5.5 - A Randstad/Harris interactive survey reported that...Ch. 5.5 - Military radar and missile detection systems are...Ch. 5.5 - Twelve of the top 20 finishers in the 2009 PGA...Ch. 5.5 - The Census Bureaus Current Population Survey shows...Ch. 5.5 - A university found that 20% of its students...Ch. 5.5 - According to a survey conducted by TD Ameritrade,...Ch. 5.5 - Twenty-three percent of automobiles are not...Ch. 5.6 - Consider a Poisson distribution with = 3. a....Ch. 5.6 - Consider a Poisson distribution with a mean of two...Ch. 5.6 - Phone calls arrive at the rate of 48 per hour at...Ch. 5.6 - During the period of time that a local university...Ch. 5.6 - More than 50 million guests stay at bed and...Ch. 5.6 - Airline passengers arrive randomly and...Ch. 5.6 - An average of 15 aircraft accidents occur each...Ch. 5.6 - The National Safety Council (NSC) estimates that...Ch. 5.7 - Suppose N = 10 and r = 3. Compute the...Ch. 5.7 - Suppose N = 15 and r = 4. What is the probability...Ch. 5.7 - In a survey conducted by the Gallup Organization,...Ch. 5.7 - Blackjack, or twenty-one as it is frequently...Ch. 5.7 - Axline Computers manufactures personal computers...Ch. 5.7 - The Zagat Restaurant Survey provides food, decor,...Ch. 5.7 - The Troubled Asset Relief Program (TARP), passed...Ch. 5 - The Barrons Big Money Poll asked 131 investment...Ch. 5 - The American Association of Individual Investors...Ch. 5 - The budgeting process for a midwestern college...Ch. 5 - A bookstore at the Hartsfield-Jackson Airport in...Ch. 5 - The Knowles/Armitage (KA) group at Merrill Lynch...Ch. 5 - A survey showed that the average commuter spends...Ch. 5 - A political action group is planning to interview...Ch. 5 - Many companies use a quality control technique...Ch. 5 - The unemployment rate in the state of Arizona is...Ch. 5 - A poll conducted by Zogby International showed...Ch. 5 - Cars arrive at a car wash randomly and...Ch. 5 - A new automated production process averages 1.5...Ch. 5 - A regional director responsible for business...Ch. 5 - Customer arrivals at a bank are random and...Ch. 5 - A deck of playing cards contains 52 cards, four of...Ch. 5 - U.S. News World Reports ranking of Americas best...
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