Statistics for Business & Economics, Revised (MindTap Course List)

12th Edition

ISBN: 9781285846323

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: South-Western College Pub

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Textbook Question

Chapter 6.3, Problem 27E

Assume a binomial probability distribution has p = .60 and n = 200.

a. What are the mean and standard deviation?
b. Is this situation one in which binomial probabilities can be approximated by the normal probability distribution? Explain.
c. What is the probability of 100 to 110 successes?
d. What is the probability of 130 or more successes?
e. What is the advantage of using the normal probability distribution to approximate the binomial probabilities? Use part (d) to explain the advantage.

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.

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Chapter 6.3, Problem 26E

Chapter 6.3, Problem 28E

Chapter 6 Solutions

Statistics for Business & Economics, Revised (MindTap Course List)

Ch. 6.1 - The random variable x is known to be uniformly...Ch. 6.1 - The random variable x is known to be uniformly...Ch. 6.1 - Delta Airlines quotes a flight time of 2 hours, 5...Ch. 6.1 - Prob. 4E Ch. 6.1 - The driving distance for the top 100 golfers on...Ch. 6.1 - On average. 30-minute television sitcoms have 22...Ch. 6.1 - Suppose we are interested in bidding on a piece of...Ch. 6.2 - Using Figure 6.4 as a guide, sketch a normal curve...Ch. 6.2 - A random variable is normally distributed with a...Ch. 6.2 - Draw a graph for the standard normal distribution....

Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - For borrowers with good credit scores, the mean...Ch. 6.2 - The average return for large-cap domestic stock...Ch. 6.2 - In an article about the cost of health care, Money...Ch. 6.2 - The average price for a gallon of gasoline in the...Ch. 6.2 - A person must score in the upper 2% of the...Ch. 6.2 - Television viewing reached a new high when the...Ch. 6.2 - The time needed to complete a final examination in...Ch. 6.2 - Trading volume on the New York Stock Exchange is...Ch. 6.2 - According to the Sleep Foundation, the average...Ch. 6.3 - A binomial probability distribution has p = .20...Ch. 6.3 - Assume a binomial probability distribution has p =...Ch. 6.3 - Although studies continue to show smoking leads to...Ch. 6.3 - An Internal Revenue Oversight Board survey found...Ch. 6.3 - Playing video and computer games is very popular....Ch. 6.3 - A Bureau of National Affairs survey found that 79%...Ch. 6.4 - Consider the following exponential probability...Ch. 6.4 - Consider the following exponential probability...Ch. 6.4 - Battery life between charges for the Motorola...Ch. 6.4 - The time between arrivals of vehicles at a...Ch. 6.4 - Comcast Corporation is the largest cable...Ch. 6.4 - Collinas Italian Caf in Houston, Texas, advertises...Ch. 6.4 - Do interruptions while you are working reduce your...Ch. 6 - A business executive, transferred from Chicago to...Ch. 6 - The NCAA estimates that the yearly value of a full...Ch. 6 - Motorola used the normal distribution to determine...Ch. 6 - During early 2012, economic hardship was...Ch. 6 - Cond Nast Traveler publishes a Gold List of the...Ch. 6 - Ward Doering Auto Sales is considering offering a...Ch. 6 - Is lack of sleep causing traffic fatalities? A...Ch. 6 - Assume that the test scores from a college...Ch. 6 - According to Salary Wizard, the average base...Ch. 6 - A machine fills containers with a particular...Ch. 6 - Consider a multiple-choice examination with 50...Ch. 6 - A blackjack player at a Las Vegas casino learned...Ch. 6 - The Information Systems Audit and Control...Ch. 6 - The website for the Bed and Breakfast Inns of...Ch. 6 - The American Community Survey showed that...Ch. 6 - The time (in minutes) between telephone calls at...Ch. 6 - Specialty Toys Specialty Toys, Inc., sells a...

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Solution Summary: The author explains that the binomial distribution can be approximated to normal distribution or not.

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