Find the proportion of full-time employees had weekly earnings of more than $755.

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Answer 1

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 24E

a.

To determine

Find the proportion of full-time employees had weekly earnings of more than $755.

b.

To determine

Find the probability that the more than 55% of them earned more than $755 per week.

c.

To determine

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

d.

To determine

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

e.

To determine

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

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The data for the following questions is provided in Microsoft Excel file on 4 separate sheets. Please conduct a step by step of these statistical tests on separate sheets of Microsoft Excel. If the calculations in Microsoft Excel are incorrect, the null and alternative hypotheses, as well as the conclusions drawn from them, will be meaningless and will not receive any points. What is one sample T-test? Give an example of business application of this test? What is Two-Sample T-Test. Give an example of business application of this test? .What is paired T-test. Give an example of business application of this test? What is one way ANOVA test. Give an example of business application of this test? 1. One Sample T-Test: Determine whether the average satisfaction rating of customers for a product is significantly different from a hypothetical mean of 75. (Hints: The null can be about maintaining status-quo or no difference; If your alternative hypothesis is non-directional (e.g., μ≠75), you…

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4. Dynamic regression (adapted from Q10.4 in Hyndman & Athanasopoulos) This exercise concerns aus_accommodation: the total quarterly takings from accommodation and the room occupancy level for hotels, motels, and guest houses in Australia, between January 1998 and June 2016. Total quarterly takings are in millions of Australian dollars. a. Perform inflation adjustment for Takings (using the CPI column), creating a new column in the tsibble called Adj Takings. b. For each state, fit a dynamic regression model of Adj Takings with seasonal dummy variables, a piecewise linear time trend with one knot at 2008 Q1, and ARIMA errors. c. What model was fitted for the state of Victoria? Does the time series exhibit constant seasonality? d. Check that the residuals of the model in c) look like white noise.

Answer 2

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 24E

a.

To determine

Find the proportion of full-time employees had weekly earnings of more than $755.

b.

To determine

Find the probability that the more than 55% of them earned more than $755 per week.

c.

To determine

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

d.

To determine

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

e.

To determine

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

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Answer 3

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 24E

a.

To determine

Find the proportion of full-time employees had weekly earnings of more than $755.

b.

To determine

Find the probability that the more than 55% of them earned more than $755 per week.

c.

To determine

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

d.

To determine

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

e.

To determine

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6.3, Problem 24E

a.

To determine

Find the proportion of full-time employees had weekly earnings of more than $755.

b.

To determine

Find the probability that the more than 55% of them earned more than $755 per week.

c.

To determine

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

d.

To determine

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

e.

To determine

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

Expert Solution & Answer

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Check out a sample textbook solution

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Answer 5

Chapter 6.3, Problem 24E

a.

To determine

Find the proportion of full-time employees had weekly earnings of more than $755.

b.

To determine

Find the probability that the more than 55% of them earned more than $755 per week.

c.

To determine

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

d.

To determine

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

e.

To determine

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

Answer 6

Chapter 6.3, Problem 24E

a.

To determine

Find the proportion of full-time employees had weekly earnings of more than $755.

Answer 7

Chapter 6.3, Problem 24E

a.

To determine

Find the proportion of full-time employees had weekly earnings of more than $755.

Answer 8

b.

To determine

Find the probability that the more than 55% of them earned more than $755 per week.

Answer 9

b.

To determine

Find the probability that the more than 55% of them earned more than $755 per week.

Answer 10

c.

To determine

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

Answer 11

c.

To determine

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

Answer 12

d.

To determine

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

Answer 13

d.

To determine

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

Answer 14

e.

To determine

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

Answer 15

e.

To determine

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 6.1 - Prob. 1CYU Ch. 6.1 - Prob. 2CYU Ch. 6.1 - Prob. 3CYU Ch. 6.1 - Prob. 4CYU Ch. 6.1 - Prob. 5CYU Ch. 6.1 - Prob. 6CYU Ch. 6.1 - Prob. 7CYU Ch. 6.1 - Prob. 8CYU Ch. 6.1 - Prob. 9CYU Ch. 6.1 - Prob. 10CYU

Find the proportion of full-time employees had weekly earnings of more than $755.

Solution Summary: The author calculates that the median for the weekly earnings for people employed full-time in the U.S. is 755. The median value represents the 50th percentile value of the dataset.

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Find the proportion of full-time employees had weekly earnings of more than $755.

Find the probability that the more than 55% of them earned more than $755 per week.

Find the probability that less than 60% of the sample of 150 employees earned more than $755 per week.

Find the probability that between 45% and 55% of the sample of 150 employees earned more than $755 per week.

Check whether it is unusual if less than 45% of the sample of 150 employees earned more than $755 per week.

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Chapter 6 Solutions