EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Chapter 6.2, Problem 24E
Trading volume on the New York Stock Exchange is heaviest during the first half hour (early morning) and last half hour (late afternoon) of the trading day. The early morning trading volumes (millions of shares) for 13 days in January and February are shown here (Barron’s, January 23, 2006; February 13, 2006; and February 27, 2006).
| 214 | 163 | 265 | 194 | 180 |
| 202 | 198 | 212 | 201 | |
| 174 | 171 | 211 | 211 |
The
- a. Compute the
mean and standard deviation to use as estimates of the population mean and standard deviation. - b. What is the probability that, on a randomly selected day, the early morning trading volume will be less than 180 million shares?
- c. What is the probability that, on a randomly selected day, the early morning trading volume will exceed 230 million shares?
- d. How many shares would have to be traded for the early morning trading volume on a particular day to be among the busiest 5% of days?
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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
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Chapter 6 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
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