Elementary Statistics (Text Only)
2nd Edition
ISBN: 9780077836351
Author: Author
Publisher: McGraw Hill
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Chapter 7, Problem 12RE
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An article appeared in the Journal of Gambling Issues, in which the authors looked at random samples of Ontario residents who (i) have not completed some form of post-secondary education and
(ii) have completed some form of post-secondary education.
A code of 0 indicates the person does not have a gambling problem, a code of 1 indicates the person does have a gambling problem.
The data is found in the accompanying data file.
Download.csv file
To count the frequencies of 0 and 1 in each sample, use the table(your_dataset_name$ column's name) function. Make sure to replace "your_dataset_name" with the actual name of your data file
and specify the correct column name.
For example: table(file60c5d1286c735$ CompletedPSEducation)
Let PNOPS represent the proportion of persons not completing some form of post-secondary education who have a gambling problem, and
PPs be the proportion of persons having completed post-secondary education who have a gambling problem.
(a) Find a 92% confidence…
We consider a (European) call option on a stock with expiration in 3 months and strike
price $10. The annual interest rate on the market is r = 4%. The current price of the stock
is $10 and we assume that the stock follows a geometric Brownian motion (Black-Scholes)
model with parameters = 6% and σ = 0.2.
(a) Determine the price Fo of this option at time t
=
: 0 (today).
(b) Using the formulas provided in the lecture videos, calculate the value of each of the
Greeks for this option. Namely, calculate A, T, v, О, p.
(c) Find a formula for the change of the option price with respect to a change in the
af (St, t)
Әк
strike price. In other words, determine
(d) For each of the suggested modifications below, use an approximation to determine
the change in the price of the option above without actually recalculating the price.
For each one, provide an intuitive argument to explain why the price increases or
decreases.
(i) The rate of return μ decreases to 5%.
(ii) The interest rate r…
A box containing 24 seemly identical resistors has just been received. However,unbeknownst, 4 of these resistors are defective.
a. Five resistors are randomly selected from this box without replacement (oncemoved from the box it is not returned to the box), what is the probability that oneor more of the defective resistors is among those selected?
b. Five resistors are randomly selected from this box with replacement (after theresistor is removed and checked, it is returned to the box prior to the nextselection (hence the same resistor can be selected more than once)), what is theprobability that one or more of the defective resistors is among those selected?
Chapter 7 Solutions
Elementary Statistics (Text Only)
Ch. 7.1 - In Exercises 9-14, fill in each blank with the...Ch. 7.1 - In Exercises 9-14, fill in each blank with the...Ch. 7.1 - In Exercises 9-14, fill in each blank with the...Ch. 7.1 - In Exercises 9-14, fill in each blank with the...Ch. 7.1 - In Exercises 9-14, fill in each blank with the...Ch. 7.1 - In Exercises 9-14, fill in each blank with the...Ch. 7.1 - Prob. 15ECh. 7.1 - In Exercises 15-18, determine whether the...Ch. 7.1 - In Exercises 15-18, determine whether the...Ch. 7.1 - In Exercises 15-18, determine whether the...
Ch. 7.1 - The following figure is a probability density...Ch. 7.1 - The following figure is a probability density...Ch. 7.1 - Find each of the shaded areas under the standard...Ch. 7.1 - Find each of the shaded areas under the standard...Ch. 7.1 - Find the area under the standard normal curve to...Ch. 7.1 - Find the area under the standard normal curve to...Ch. 7.1 - Find the area under the standard normal curve to...Ch. 7.1 - Find the area under the standard normal curve to...Ch. 7.1 - Find the area under the standard normal curve that...Ch. 7.1 - Find the area under the standard normal curve that...Ch. 7.1 - Find the area under the standard normal curve that...Ch. 7.1 - Find the area under the standard normal curve that...Ch. 7.1 - Find the z-score for which the area to its left is...Ch. 7.1 - Find the z-score for which the area to its left is...Ch. 7.1 - Find the z-score for which the area to its left is...Ch. 7.1 - Find the z-score for which the area to its left is...Ch. 7.1 - Find the z-score for which the area to its right...Ch. 7.1 - Find the z-score for which the area to its right...Ch. 7.1 - Find the z-score for which the area to its right...Ch. 7.1 - Find the z-score for which the area to its right...Ch. 7.1 - Find the z-scores that bound the middle 50% of the...Ch. 7.1 - Find the z-scores that bound the middle 70% of the...Ch. 7.1 - Find the z-scores that bound the middle 80% of the...Ch. 7.1 - Find the z-scores that bound the middle 98% of the...Ch. 7.1 - Symmetry: The area under the standard normal curve...Ch. 7.1 - Symmetry: The area under the standard normal curve...Ch. 7.1 - Symmetry: The area under the standard normal curve...Ch. 7.1 - Prob. 46ECh. 7.1 - Prob. 47ECh. 7.1 - Prob. 48ECh. 7.2 - In Exercises 9-10, fill in each blank with the...Ch. 7.2 - In Exercises 9-10, fill in each blank with the...Ch. 7.2 - Prob. 11ECh. 7.2 - Prob. 12ECh. 7.2 - Prob. 13ECh. 7.2 - Prob. 14ECh. 7.2 - Prob. 15ECh. 7.2 - Prob. 16ECh. 7.2 - A normal population has mean =20 and standard...Ch. 7.2 - A normal population has mean =9 and standard...Ch. 7.2 - A normal population has mean =25 and standard...Ch. 7.2 - A normal population has mean =61 and standard...Ch. 7.2 - A normal population has mean =47 and standard...Ch. 7.2 - A normal population has mean =35 and standard...Ch. 7.2 - A normal population has mean =12 and standard...Ch. 7.2 - A normal population has mean =56 and standard...Ch. 7.2 - A normal population has mean =46 and standard...Ch. 7.2 - A normal population has mean =71 and standard...Ch. 7.2 - Check your blood pressure: In a recent study, the...Ch. 7.2 - Baby weights: According to a recent National...Ch. 7.2 - Check your blood pressure: The Centers for Disease...Ch. 7.2 - Baby weights: The weight of male babies less than...Ch. 7.2 - Fish story: According to a report by the U.S. Fish...Ch. 7.2 - Big chickens: According to thepoultrysite.com: the...Ch. 7.2 - Fish story: The U.S. Fish and Wildlife Service...Ch. 7.2 - Big chickens: A report on thepoulttysite.com...Ch. 7.2 - Radon: Radon is a naturally occurring radioactive...Ch. 7.2 - Electric bills: According to the U.S. Energy...Ch. 7.2 - Radon: Assume that radon measurements are normally...Ch. 7.2 - Electric bills: The U.S. Energy Information Agency...Ch. 7.2 - Tire lifetimes: The lifetime of a certain type of...Ch. 7.2 - Tree heights: Cherry trees in a certain orchard...Ch. 7.2 - Tire lifetimes: The lifetime of a certain type of...Ch. 7.2 - Tree heights: Cherry trees in a certain orchard...Ch. 7.2 - How much is in that can? The volume of beverage in...Ch. 7.2 - How much do you study? A survey among freshmen at...Ch. 7.2 - How much is in that can? The volume of beverage in...Ch. 7.2 - How much do you study? A survey among freshmen at...Ch. 7.2 - Precision manufacturing: A process manufactures...Ch. 7.2 - Exam grades: Scores on a statistics final in a...Ch. 7.2 - Precision manufacturing: A process manufactures...Ch. 7.2 - Prob. 50ECh. 7.2 - Tall men: Heights of men in a certain city are...Ch. 7.2 - Watch your speed: Speeds of automobiles on a...Ch. 7.2 - Contaminated wells: A study reported that the mean...Ch. 7.2 - Prob. 54ECh. 7.2 - Exam scores: Scores on an exam were normally...Ch. 7.2 - Prob. 56ECh. 7.3 - In Exercises 5 and 6, fill in each blank with the...Ch. 7.3 - In Exercises 5 and 6, fill in each blank with the...Ch. 7.3 - In Exercises 7 and 8, determine whether the...Ch. 7.3 - In Exercises 7 and 8, determine whether the...Ch. 7.3 - A sample of size 75 will be drawn from a...Ch. 7.3 - A sample of size 126 will be drawn from a...Ch. 7.3 - A sample of size 68 will be drawn from a...Ch. 7.3 - A sample of size 284 will be drawn from a...Ch. 7.3 - A sample of size 91 will be drawn from a...Ch. 7.3 - Prob. 14ECh. 7.3 - A sample of sue 20 will be drawn from a population...Ch. 7.3 - A sample of size 42 will be drawn from a...Ch. 7.3 - A sample of size 5 will be drawn from a normal...Ch. 7.3 - A sample of size 15 will be drawn from a...Ch. 7.3 - Prob. 19ECh. 7.3 - Prob. 20ECh. 7.3 - Prob. 21ECh. 7.3 - Watch your cholesterol: The National Health and...Ch. 7.3 - TV sets: A Nielsen Company report states that the...Ch. 7.3 - Prob. 24ECh. 7.3 - Taxes: The Internal Revenue Service reports that...Ch. 7.3 - High-rent district: The Real Estate Group NY...Ch. 7.3 - Roller coaster ride: A roller coaster is being...Ch. 7.3 - Elevator ride: Engineers are designing a large...Ch. 7.3 - Annual income: The mean annual income for people...Ch. 7.3 - Going to work: An ABC News report stated that the...Ch. 7.3 - Eat our cereal: A cereal manufacturer claims that...Ch. 7.3 - Batters life: A battery manufacturer claims that...Ch. 7.3 - Prob. 33ECh. 7.4 - In Exercises 5 and 6, fill in each blank with the...Ch. 7.4 - Prob. 6ECh. 7.4 - In Exercises 7 and 8, determine whether the...Ch. 7.4 - Prob. 8ECh. 7.4 - In Exercises 9-14, n is the sample size, p is the...Ch. 7.4 - In Exercises 9-14, n is the sample size, p is the...Ch. 7.4 - In Exercises 9-14, n is the sample size, p is the...Ch. 7.4 - Prob. 12ECh. 7.4 - Prob. 13ECh. 7.4 - Prob. 14ECh. 7.4 - Coffee: The National Coffee Association reported...Ch. 7.4 - Smartphones: A new Research report indicated that...Ch. 7.4 - Student loans: The Institute for College Access...Ch. 7.4 - Prob. 18ECh. 7.4 - Government workers: The Bureau of Labor Statistics...Ch. 7.4 - Working two jobs: The Bureau of Labor Statistics...Ch. 7.4 - Future scientists: Education professionals refer...Ch. 7.4 - Blood pressure: High blood pressure has been...Ch. 7.4 - Pay your taxes: According to the Internal Revenue...Ch. 7.4 - Weekly paycheck: The Bureau of Labor Statistics...Ch. 7.4 - Kidney transplants: The Health Resources and...Ch. 7.4 - Hows your new car? The General Social Survey...Ch. 7.4 - Flawless tiles: A new process has been designed to...Ch. 7.5 - In Exercises 5 and 6, fill in each blank with the...Ch. 7.5 - Prob. 6ECh. 7.5 - Prob. 7ECh. 7.5 - Prob. 8ECh. 7.5 - Prob. 9ECh. 7.5 - Prob. 10ECh. 7.5 - Prob. 11ECh. 7.5 - Prob. 12ECh. 7.5 - Prob. 13ECh. 7.5 - Prob. 14ECh. 7.5 - Google it: According to a report of the Nielsen...Ch. 7.5 - Big babies: The Centers for Disease Control and...Ch. 7.5 - High blood pressure: The National Health and...Ch. 7.5 - Stress at work: In a poll conducted by the General...Ch. 7.5 - Prob. 19ECh. 7.5 - Gardening: A gardener buys a package of seeds....Ch. 7.5 - The car is in the shop: Among automobiles of a...Ch. 7.5 - Genetics: Pea plants contain two genes for seed...Ch. 7.5 - Prob. 23ECh. 7.5 - Prob. 24ECh. 7.5 - Prob. 25ECh. 7.6 - In Exercise 7, fill in each blank with the...Ch. 7.6 - Prob. 8ECh. 7.6 - Prob. 9ECh. 7.6 - Prob. 10ECh. 7.6 - Prob. 11ECh. 7.6 - Prob. 12ECh. 7.6 - Prob. 13ECh. 7.6 - The following histogram illustrates a sample. Is...Ch. 7.6 - Prob. 15ECh. 7.6 - Prob. 16ECh. 7.6 - Prob. 17ECh. 7.6 - Prob. 18ECh. 7.6 - Drug concentrations: A sample of 10 people...Ch. 7.6 - Reading scores: A random sample of eight...Ch. 7.6 - Prob. 21ECh. 7.6 - Impure cans: A manufacturer of aluminum cans...Ch. 7.6 - Prob. 23ECh. 7.6 - Prob. 24ECh. 7.6 - Prob. 25ECh. 7.6 - Prob. 26ECh. 7.6 - Prob. 27ECh. 7.6 - Prob. 28ECh. 7.6 - Prob. 29ECh. 7.6 - Prob. 30ECh. 7.6 - Prob. 31ECh. 7.6 - Prob. 32ECh. 7 - Prob. 1CQCh. 7 - Find the area under the standard normal curve To...Ch. 7 - Find the z-score that has An area of 0.33 to its...Ch. 7 - Find the z-scores that bound the middle 80% of the...Ch. 7 - Find z0.15.Ch. 7 - Suppose that salaries of recent graduates from a...Ch. 7 - A normal population has mean =242 and standard...Ch. 7 - Suppose that in a bowling league, the scores among...Ch. 7 - State the Central Limit Theorem.Ch. 7 - A population has mean =193 and standard deviation...Ch. 7 - The running time for videos submitted to YouTube...Ch. 7 - A sample of size n=55 is drawn from a population...Ch. 7 - Prob. 13CQCh. 7 - Prob. 14CQCh. 7 - Prob. 15CQCh. 7 - Find the area: Find the area under the standard...Ch. 7 - Find the z-score: Find the z-score for which the...Ch. 7 - Your battery is dead: The lifetimes of a certain...Ch. 7 - Take your medicine: Medication used to treat a...Ch. 7 - Lightbulbs: The lifetime of lightbulbs has a mean...Ch. 7 - Prob. 6RECh. 7 - Pay your taxes: Among all the state income tax...Ch. 7 - Prob. 8RECh. 7 - Prob. 9RECh. 7 - Facebook: Eighty percent of the students at a...Ch. 7 - Prob. 11RECh. 7 - Prob. 12RECh. 7 - Prob. 13RECh. 7 - Prob. 14RECh. 7 - Prob. 15RECh. 7 - Explain why P(aXb) is equal to P(aXb) when X is a...Ch. 7 - Prob. 2WAICh. 7 - Prob. 3WAICh. 7 - Suppose that in a large class, the instructor...Ch. 7 - Prob. 5WAICh. 7 - Prob. 6WAICh. 7 - Prob. 7WAICh. 7 - Compute the sample mean x and the sample standard...Ch. 7 - Estimate the population mean g with X and the...Ch. 7 - The shipment will be accepted if we estimate that...Ch. 7 - A second shipment of cans is received. Ten...Ch. 7 - Compute the sample mean x and the sample standard...Ch. 7 - Using the same method as for the first sample,...Ch. 7 - The shipment will be accepted if we estimate that...Ch. 7 - Make a boxplot of the pressures for the second...
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