Introductory Statistics
1st Edition
ISBN: 9781938168208
Author: Barbara Illowsky, Susan Dean
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 6, Problem 18P
Suppose X~ N(2, 3). That value of x has a z-score of - 0.67?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
You have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. please do it step by step
Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship.
Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship.
Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size).
Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple linear…
Exercises: Find all the whole number
solutions of the congruence equation.
1. 3x 8 mod 11
2. 2x+3= 8 mod 12
3. 3x+12= 7 mod 10
4. 4x+6= 5 mod 8
5. 5x+3= 8 mod 12
Scenario
Sales of products by color follow a peculiar, but predictable, pattern that determines how many units will sell in
any given year. This pattern is shown below
Product Color
1995
1996
1997
Red
28
42
21
1998
23
1999
29
2000
2001
2002
Unit Sales
2003 2004
15
8
4
2
1
2005 2006
discontinued
Green
26
39
20
22
28
14
7
4
2
White
43
65
33
36
45
23
12
Brown
58
87
44
48
60
Yellow
37
56
28
31
Black
28
42
21
Orange
19
29
Purple
Total
28
42
21
49
68
78
95
123
176
181
164
127
24
179
Questions
A) Which color will sell the most units in 2007?
B) Which color will sell the most units combined in the 2007 to 2009 period?
Please show all your analysis, leave formulas in cells, and specify any assumptions you make.
Chapter 6 Solutions
Introductory Statistics
Ch. 6 - What is the z-score of x, when x = 1 and...Ch. 6 - Fill In the blanks. Jerome averages 16 points a...Ch. 6 - Use the Information in Example 6.3 to answer the...Ch. 6 - In 2012, 1,664,479 students took the SAT exam. The...Ch. 6 - Suppose X has a normal distribution with mean 25...Ch. 6 - The scores on a college entrance exam have an...Ch. 6 - If the area to the left of x is 0.012, then what...Ch. 6 - The golf scores for a school team were normally...Ch. 6 - The golf scores for a school team were normally...Ch. 6 - Use the Information in Example 6.10 to answer the...
Ch. 6 - Two thousand students took an exam. The scores on...Ch. 6 - Using the information from Example 6.12, answer...Ch. 6 - A bottle of water contains 12.05 fluid ounces with...Ch. 6 - A normal distribution has a mean of 61 and a...Ch. 6 - X~N(1,2)=Ch. 6 - A company manufactures rubber balls. The mean...Ch. 6 - X~N(-4, 1) What is the median?Ch. 6 - X~N(3,5)=Ch. 6 - X~N(2,1)=Ch. 6 - What does a z-score measure?Ch. 6 - What does standardizing a normal distribution do...Ch. 6 - Is X ~N(0, 1) a standardized normal distribution?...Ch. 6 - What is the z-score of x = 12, if it is two...Ch. 6 - What is the z-score of x = 9, if it is 1.5...Ch. 6 - What is the z-score of x = —2, if it is 2.78...Ch. 6 - What is the z-score of x = 7, if it is 0.133...Ch. 6 - Suppose X~ N(2, 6). What value of x has a z-score...Ch. 6 - Suppose X~ N(8, 1). ‘What value of x has a z-score...Ch. 6 - Suppose X ~N(9, 5). What value of x has a z-score...Ch. 6 - Suppose X~ N(2, 3). That value of x has a z-score...Ch. 6 - Suppose X ~N(4, 2). What value of x is 1.5...Ch. 6 - Suppose X ~N(4, 2). What value of x is two...Ch. 6 - Suppose X ~N(8, 9). What value of x is 0.67...Ch. 6 - Suppose X ~N(—1, 2). What is the z-score of x = 2?Ch. 6 - Suppose X ~N( 12, 6). What is the z-score of x =...Ch. 6 - Suppose X ~N(9, 3). What is the z-score of x = 9?Ch. 6 - Suppose a normal distribution has a mean of six...Ch. 6 - In a normal distribution, x = 5 and z = —1.25....Ch. 6 - In a normal distribution, x = 3 and z = 0.67. This...Ch. 6 - In a normal distribution, x = —2 and z = 6. This...Ch. 6 - In a normal distribution, x = —5 and z = —3.14....Ch. 6 - In a normal distribution, x= 6 and z —1.7. This...Ch. 6 - About what percent of x values from a normal...Ch. 6 - About what percent of the x values from a normal...Ch. 6 - About what percent of x values lie between the...Ch. 6 - Suppose X N( 15, 3). Between what x values does...Ch. 6 - Suppose X~ N(—3, 1). Between what x values does...Ch. 6 - Suppose X ~N(—3, 1). Between what x values does...Ch. 6 - About what percent of x values lie between the...Ch. 6 - About what percent of x values lie between the...Ch. 6 - About what percent of x values lie between the...Ch. 6 - About what percent of x values lie between the...Ch. 6 - Use the following information to answer the next t...Ch. 6 - Use the following information to answer the next t...Ch. 6 - How would you represent the area to the left of...Ch. 6 - What is the area to the right of one? Figure 6.13Ch. 6 - Is P(x < 1) equal to P(x1) ? ‘by?Ch. 6 - How would you represent the area to the left of...Ch. 6 - What is the area to the right of three? Figure...Ch. 6 - If the area to the left of x in a normal...Ch. 6 - If the area to the tight of x in a normal...Ch. 6 - Use the following information to answer the next...Ch. 6 - Use the following information to answer the next...Ch. 6 - Use the following information to answer the next...Ch. 6 - Use the following information to answer the next...Ch. 6 - X~N(6, 2) Find the probability that x is between...Ch. 6 - X~N(—3, 4) Find the probability that x is between...Ch. 6 - X~N(4,5) Find the maxium of x in the bottom...Ch. 6 - Use the following information to answer the next...Ch. 6 - Find the probability that a CD player will last...Ch. 6 - Find the 70th percentile of the distribution for...Ch. 6 - Use the following information to answer the next r...Ch. 6 - Use the following information to answer the next r...Ch. 6 - The length of time to find it takes to find a...Ch. 6 - The heights of the 430 National Basketball...Ch. 6 - The systolic blood pressure (given In millimeters)...Ch. 6 - Kyle’s doctor told him that the z-score for his...Ch. 6 - Height and weight are two measurements used to...Ch. 6 - In 2005, 1,475,623 students heading to college...Ch. 6 - Use the following information (0 answer the next...Ch. 6 - Use the following information (0 answer the next...Ch. 6 - Use the following information to answer the next...Ch. 6 - Use the following information to answer the next...Ch. 6 - Use the following information to answer the next...Ch. 6 - According to a study done by De Anza students, the...Ch. 6 - IQ is normally distributed with a mean of 100 and...Ch. 6 - The percent of fat calories that a person In...Ch. 6 - Suppose that the distance of fly balls hit to the...Ch. 6 - In China, four-ear-olds average three bows a day...Ch. 6 - In the 1992 presidential election, Alaska's 40...Ch. 6 - Suppose that the duration of a particular type of...Ch. 6 - Tern Vogel, an amateur motorcycle racer, averages...Ch. 6 - Thuy Dau, Ngoc Bui, Sam Su, and Lan Voung...Ch. 6 - Suppose that Ricardo and Anita attend different...Ch. 6 - Table 6.4 shows a sample of the maximum capacity...Ch. 6 - An expert witness for a paternity lawsuit...Ch. 6 - A NUMMI assembly Line, which has been operating...Ch. 6 - We flip a coin 100 times (n = 100) and note that...Ch. 6 - A $1 scratch off lotto ticket will be a inner one...Ch. 6 - Facebook provides a variety of statistics on its...
Additional Math Textbook Solutions
Find more solutions based on key concepts
Comparing Values. In Exercises 13-16, use z scores to compare the given values.
13. Tallest and Shortest Men Th...
Elementary Statistics (13th Edition)
Expand the quotients in Exercises 1−8 by partial fractions.
1.
University Calculus: Early Transcendentals (4th Edition)
Women’s Heights Suppose college women’s heights are approximately Normally distributed with a mean of 65 inches...
Introductory Statistics
TRY IT YOURSELF 1
Find the mean of the points scored by the 51 winning teams listed on page 39.
Elementary Statistics: Picturing the World (7th Edition)
A categorical variable has three categories, with the following frequencies of occurrence: a. Compute the perce...
Basic Business Statistics, Student Value Edition
Other techniques Evaluate the following limits, where a and b are fixed real numbers. 41. limx4x2164x
Calculus: Early Transcendentals (2nd Edition)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- One hundred students were surveyed about their preference between dogs and cats. The following two-way table displays data for the sample of students who responded to the survey. Preference Male Female TOTAL Prefers dogs \[36\] \[20\] \[56\] Prefers cats \[10\] \[26\] \[36\] No preference \[2\] \[6\] \[8\] TOTAL \[48\] \[52\] \[100\] problem 1 Find the probability that a randomly selected student prefers dogs.Enter your answer as a fraction or decimal. \[P\left(\text{prefers dogs}\right)=\] Incorrect Check Hide explanation Preference Male Female TOTAL Prefers dogs \[\blueD{36}\] \[\blueD{20}\] \[\blueE{56}\] Prefers cats \[10\] \[26\] \[36\] No preference \[2\] \[6\] \[8\] TOTAL \[48\] \[52\] \[100\] There were \[\blueE{56}\] students in the sample who preferred dogs out of \[100\] total students.arrow_forwardBusiness discussarrow_forwardYou have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship. Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship. Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size). Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple linear regression model. Interpret the…arrow_forward
- Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship. How to take snapshots: if you use a MacBook, press Command+ Shift+4 to take snapshots. If you are using Windows, use the Snipping Tool to take snapshots. Question 1: Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship. Value of correlation coefficient: Direction of the relationship (positive, negative, or zero relationship): Strength of the relationship (strong/moderate/weak): Question 2: Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size. (The answer for the…arrow_forwardIn this problem, we consider a Brownian motion (W+) t≥0. We consider a stock model (St)t>0 given (under the measure P) by d.St 0.03 St dt + 0.2 St dwt, with So 2. We assume that the interest rate is r = 0.06. The purpose of this problem is to price an option on this stock (which we name cubic put). This option is European-type, with maturity 3 months (i.e. T = 0.25 years), and payoff given by F = (8-5)+ (a) Write the Stochastic Differential Equation satisfied by (St) under the risk-neutral measure Q. (You don't need to prove it, simply give the answer.) (b) Give the price of a regular European put on (St) with maturity 3 months and strike K = 2. (c) Let X = S. Find the Stochastic Differential Equation satisfied by the process (Xt) under the measure Q. (d) Find an explicit expression for X₁ = S3 under measure Q. (e) Using the results above, find the price of the cubic put option mentioned above. (f) Is the price in (e) the same as in question (b)? (Explain why.)arrow_forwardProblem 4. Margrabe formula and the Greeks (20 pts) In the homework, we determined the Margrabe formula for the price of an option allowing you to swap an x-stock for a y-stock at time T. For stocks with initial values xo, yo, common volatility σ and correlation p, the formula was given by Fo=yo (d+)-x0Þ(d_), where In (±² Ꭲ d+ õ√T and σ = σ√√√2(1 - p). дго (a) We want to determine a "Greek" for ỡ on the option: find a formula for θα (b) Is дго θα positive or negative? (c) We consider a situation in which the correlation p between the two stocks increases: what can you say about the price Fo? (d) Assume that yo< xo and p = 1. What is the price of the option?arrow_forward
- We consider a 4-dimensional stock price model given (under P) by dẴ₁ = µ· Xt dt + йt · ΣdŴt where (W) is an n-dimensional Brownian motion, π = (0.02, 0.01, -0.02, 0.05), 0.2 0 0 0 0.3 0.4 0 0 Σ= -0.1 -4a За 0 0.2 0.4 -0.1 0.2) and a E R. We assume that ☑0 = (1, 1, 1, 1) and that the interest rate on the market is r = 0.02. (a) Give a condition on a that would make stock #3 be the one with largest volatility. (b) Find the diversification coefficient for this portfolio as a function of a. (c) Determine the maximum diversification coefficient d that you could reach by varying the value of a? 2arrow_forwardQuestion 1. Your manager asks you to explain why the Black-Scholes model may be inappro- priate for pricing options in practice. Give one reason that would substantiate this claim? Question 2. We consider stock #1 and stock #2 in the model of Problem 2. Your manager asks you to pick only one of them to invest in based on the model provided. Which one do you choose and why ? Question 3. Let (St) to be an asset modeled by the Black-Scholes SDE. Let Ft be the price at time t of a European put with maturity T and strike price K. Then, the discounted option price process (ert Ft) t20 is a martingale. True or False? (Explain your answer.) Question 4. You are considering pricing an American put option using a Black-Scholes model for the underlying stock. An explicit formula for the price doesn't exist. In just a few words (no more than 2 sentences), explain how you would proceed to price it. Question 5. We model a short rate with a Ho-Lee model drt = ln(1+t) dt +2dWt. Then the interest rate…arrow_forwardIn this problem, we consider a Brownian motion (W+) t≥0. We consider a stock model (St)t>0 given (under the measure P) by d.St 0.03 St dt + 0.2 St dwt, with So 2. We assume that the interest rate is r = 0.06. The purpose of this problem is to price an option on this stock (which we name cubic put). This option is European-type, with maturity 3 months (i.e. T = 0.25 years), and payoff given by F = (8-5)+ (a) Write the Stochastic Differential Equation satisfied by (St) under the risk-neutral measure Q. (You don't need to prove it, simply give the answer.) (b) Give the price of a regular European put on (St) with maturity 3 months and strike K = 2. (c) Let X = S. Find the Stochastic Differential Equation satisfied by the process (Xt) under the measure Q. (d) Find an explicit expression for X₁ = S3 under measure Q. (e) Using the results above, find the price of the cubic put option mentioned above. (f) Is the price in (e) the same as in question (b)? (Explain why.)arrow_forward
- The managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Question content area bottom Part 1 a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costsequals=212495.2212495.2plus+left parenthesis 42.4857 right parenthesis42.485742.4857times×Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) Part 2 b. Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, b 0b0, if appropriate. Choose the correct answer below. A. The value of b 0b0 is the predicted billable hours for an overhead cost of 0 dollars. B. It is not appropriate to interpret b 0b0, because its value…arrow_forwardUsing the accompanying Home Market Value data and associated regression line, Market ValueMarket Valueequals=$28,416+$37.066×Square Feet, compute the errors associated with each observation using the formula e Subscript ieiequals=Upper Y Subscript iYiminus−ModifyingAbove Upper Y with caret Subscript iYi and construct a frequency distribution and histogram. LOADING... Click the icon to view the Home Market Value data. Question content area bottom Part 1 Construct a frequency distribution of the errors, e Subscript iei. (Type whole numbers.) Error Frequency minus−15 comma 00015,000less than< e Subscript iei less than or equals≤minus−10 comma 00010,000 0 minus−10 comma 00010,000less than< e Subscript iei less than or equals≤minus−50005000 5 minus−50005000less than< e Subscript iei less than or equals≤0 21 0less than< e Subscript iei less than or equals≤50005000 9…arrow_forwardThe managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c Overhead Costs Billable Hours345000 3000385000 4000410000 5000462000 6000530000 7000545000 8000arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman
Statistics 4.1 Introduction to Inferential Statistics; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=QLo4TEvBvK4;License: Standard YouTube License, CC-BY