ESSEN OF BUSINESS ANALYTICS (LL) BOM
2nd Edition
ISBN: 9781337128629
Author: Camm
Publisher: CENGAGE L
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Chapter 6, Problem 19P
a.
To determine
Obtain the point estimate of the proportion of the population of adults who thinks that today’s children will be better off than their parents.
b.
To determine
Obtain the margin of error at 95% confidence level.
c.
To determine
Obtain a 95% confidence interval for the proportion of the population of adults who thinks that today’s children will be better off than their parents.
d.
To determine
Obtain a 95% confidence interval for the proportion of the population of adults who do not think that today’s children will be better off than their parents.
e.
To determine
Delineate the confidence interval obtained in part c and part d.
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Martinez Auto Supplies has retail stores located in eight cities in California. The price they charge for a particular product in each city are vary because of differing competitive conditions. For instance, the price they charge for a case of a popular brand of motor oil in each city follows. Also shown are the number of cases that Martinez
Auto sold last quarter in each city.
City
Price ($)
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Bakersfield
34.99
501
Los Angeles
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Modesto
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Oakland
33.59
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Sacramento
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San Diego
38.59
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San Francisco
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San Jose
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Compute the average sales price per case for this product during the last quarter? Round your answer to two decimal places.
Consider the following data and corresponding weights.
xi
Weight(wi)
3.2
6
2.0
3
2.5
2
5.0
8
a. Compute the weighted mean (to 2 decimals).
b. Compute the sample mean of the four data values without weighting. Note the difference in the results provided by the two computations (to 3 decimals).
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Chapter 6 Solutions
ESSEN OF BUSINESS ANALYTICS (LL) BOM
Ch. 6 - The American League consists of 15 baseball teams....Ch. 6 - The U.S. Golf Association is considering a ban on...Ch. 6 - A simple random sample of 5 months of sales data...Ch. 6 - Morningstar publishes ratings data on 1,208...Ch. 6 - One of the questions in the Pew Internet &...Ch. 6 - In this chapter we showed how a simple random...Ch. 6 - The College Board reported the following mean...Ch. 6 - Prob. 8PCh. 6 - The Economic Policy Institute periodically issues...Ch. 6 - The state of California has a mean annual rainfall...
Ch. 6 - The president of Doerman Distributors, Inc.,...Ch. 6 - Prob. 12PCh. 6 - People end up tossing 12% of what they buy at the...Ch. 6 - Prob. 14PCh. 6 - The International Air Transport Association...Ch. 6 - Prob. 16PCh. 6 - Health insurers are beginning to offer...Ch. 6 - The average annual premium for automobile...Ch. 6 - Prob. 19PCh. 6 - According to Thomson Financial, last year the...Ch. 6 - The Pew Research Center Internet Project conducted...Ch. 6 - For many years businesses have struggled with the...Ch. 6 - The manager of the Danvers-Hilton Resort Hotel...Ch. 6 - The manager of an automobile dealership is...Ch. 6 - A production line operation is designed to fill...Ch. 6 - Because of high production-changeover time and...Ch. 6 - Duke Energy reported that the cost of electricity...Ch. 6 - Prob. 28PCh. 6 - Carpetland salespersons average 8,000 per week in...Ch. 6 - Suppose a new production method will be...Ch. 6 - Prob. 31PCh. 6 - A shareholders’ group, in lodging a protest,...Ch. 6 - Prob. 33PCh. 6 - Prob. 34PCh. 6 - Prob. 35PCh. 6 - According to the National Automobile Dealers...Ch. 6 - What percentage of the population live in their...Ch. 6 - Prob. 38PCh. 6 - Ten years ago 53% of American families owned...Ch. 6 - Prob. 40PCh. 6 - Prob. 41PCh. 6 - Prob. 42PCh. 6 - The Port Authority sells a wide variety of cables...Ch. 6 - The Port Authority also wants to determine if the...Ch. 6 - Prob. 1C
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