Essentials of Statistics; MathXL Valuepack Access Card (6-months) (5th Edition)
5th Edition
ISBN: 9780133954982
Author: Mario F. Triola
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 7, Problem 1CQQ
To determine
To identify: The confidence interval that corresponds to the given information.
Expert Solution & Answer
Answer to Problem 1CQQ
The confidence interval is
Explanation of Solution
Given info:
The USA Today reported that 40% of people surveyed planned to use accumulated loose change for paying bills and the margin of error is
Calculation:
The formula for confidence interval is,
Substitute 40% for
Thus, the confidence interval is
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Here is data with as the response variable.
x y54.4 19.124.9 99.334.5 9.476.6 0.359.4 4.554.4 0.139.2 56.354 15.773.8 9-156.1 319.2Make a scatter plot of this data. Which point is an outlier? Enter as an ordered pair, e.g., (x,y). (x,y)=
Find the regression equation for the data set without the outlier. Enter the equation of the form mx+b rounded to three decimal places. y_wo=
Find the regression equation for the data set with the outlier. Enter the equation of the form mx+b rounded to three decimal places. y_w=
You have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. please do it step by step
Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship.
Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship.
Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size).
Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple linear…
Exercises: Find all the whole number
solutions of the congruence equation.
1. 3x 8 mod 11
2. 2x+3= 8 mod 12
3. 3x+12= 7 mod 10
4. 4x+6= 5 mod 8
5. 5x+3= 8 mod 12
Chapter 7 Solutions
Essentials of Statistics; MathXL Valuepack Access Card (6-months) (5th Edition)
Ch. 7.2 - 2. Margin of Error For the poll described in...Ch. 7.2 - Statistical Literacy and Critical Thinking
1. Poll...Ch. 7.2 - 3. Notation For the poll described in Exercise 1,...Ch. 7.2 - 4. Confidence Levels Given specific sample data,...Ch. 7.2 - Finding Critical Values. In Exercises 5-8, find...Ch. 7.2 - Prob. 6BSCCh. 7.2 - Finding Critical Values. In Exercises 5-8, find...Ch. 7.2 - Finding Critical Values. In Exercises 5-8, find...Ch. 7.2 - Formats of Confidence Intervals. In Exercises...Ch. 7.2 - Formats of Confidence Intervals. In Exercises...
Ch. 7.2 - Formats of Confidence Intervals. In Exercises...Ch. 7.2 - Formats of Confidence Intervals. In Exercises...Ch. 7.2 - Constructing and Interpreting Confidence...Ch. 7.2 - Constructing and Interpreting Confidence...Ch. 7.2 - Constructing and Interpreting Confidence...Ch. 7.2 - Constructing and Interpreting Confidence...Ch. 7.2 - 17. Gender Selection The Genetics and IVF...Ch. 7.2 - 18. Gender Selection The Genetics and IVF...Ch. 7.2 - Prob. 19BSCCh. 7.2 - 20. Mendelian Genetics When Mendel conducted his...Ch. 7.2 - 21. Online Books A Consumer Reports Research...Ch. 7.2 - 22. Want Boss’s Job? In a USA Today survey, 20.8%...Ch. 7.2 - 23. Job Interviews In a Harris poll of 514 human...Ch. 7.2 - 24. Job Interviews In a Harris poll of 514 human...Ch. 7.2 - Prob. 25BSCCh. 7.2 - Prob. 26BSCCh. 7.2 - Prob. 27BSCCh. 7.2 - Prob. 28BSCCh. 7.2 - Determining Sample Size. In Exercises 29-36, use...Ch. 7.2 - Determining Sample Size. In Exercises 29-36, use...Ch. 7.2 - Determining Sample Size. In Exercises 29-36, use...Ch. 7.2 - Determining Sample Size. In Exercises 29-36, use...Ch. 7.2 - Prob. 33BSCCh. 7.2 - Determining Sample Size. In Exercises 29-36, use...Ch. 7.2 - Determining Sample Size. In Exercises 29-36, use...Ch. 7.2 - Determining Sample Size. In Exercises 29-36, use...Ch. 7.2 - Using Appendix B Data Sets. In Exercises 37 and...Ch. 7.2 - Using Appendix B Data Sets. In Exercises 37 and...Ch. 7.2 - 39. Finite Population Correction Factor For...Ch. 7.2 - 40. Confidence Interval from Small Sample Special...Ch. 7.2 - Prob. 41BBCh. 7.2 - Prob. 42BBCh. 7.2 - Prob. 43BBCh. 7.3 - In Exercises 1-3, refer to the accompanying screen...Ch. 7.3 - Statistical Literacy and Critical Thinking
In...Ch. 7.3 - In Exercises 1-3, refer to the accompanying screen...Ch. 7.3 - 4. Normality Requirement What does it mean when we...Ch. 7.3 - Using Correct Distribution. In Exercises 5-8,...Ch. 7.3 - Using Correct Distribution. In Exercises 5-8,...Ch. 7.3 - Using Correct Distribution. In Exercises 5-8,...Ch. 7.3 - Using Correct Distribution. In Exercises 5-8,...Ch. 7.3 - Confidence Intervals. In Exercises 9-24, construct...Ch. 7.3 - Confidence Intervals. In Exercises 9-24, construct...Ch. 7.3 - Confidence Intervals. In Exercises 9-24, construct...Ch. 7.3 - Confidence Intervals. In Exercises 9-24, construct...Ch. 7.3 - Prob. 13BSCCh. 7.3 - Prob. 14BSCCh. 7.3 - Prob. 15BSCCh. 7.3 - Prob. 16BSCCh. 7.3 - Prob. 17BSCCh. 7.3 - Prob. 18BSCCh. 7.3 - Prob. 19BSCCh. 7.3 - Prob. 20BSCCh. 7.3 - Prob. 21BSCCh. 7.3 - Prob. 22BSCCh. 7.3 - Confidence Intervals. In Exercises 9-24, construct...Ch. 7.3 - Prob. 24BSCCh. 7.3 - Prob. 25BSCCh. 7.3 - Prob. 26BSCCh. 7.3 - Prob. 27BSCCh. 7.3 - Prob. 28BSCCh. 7.3 - Prob. 29BSCCh. 7.3 - Prob. 30BSCCh. 7.3 - Prob. 31BSCCh. 7.3 - Prob. 32BSCCh. 7.3 - Prob. 33BSCCh. 7.3 - Prob. 34BSCCh. 7.3 - Prob. 35BBCh. 7.3 - Prob. 36BBCh. 7.3 - Prob. 37BBCh. 7.3 - Prob. 38BBCh. 7.3 - Prob. 39BBCh. 7.3 - Prob. 40BBCh. 7.3 - Prob. 41BBCh. 7.4 - 1. LDL Cholesterol Using the 40 LDL cholesterol...Ch. 7.4 - Prob. 2BSCCh. 7.4 - Prob. 3BSCCh. 7.4 - Prob. 4BSCCh. 7.4 - Prob. 5BSCCh. 7.4 - Prob. 6BSCCh. 7.4 - Prob. 7BSCCh. 7.4 - Prob. 8BSCCh. 7.4 - Prob. 9BSCCh. 7.4 - Prob. 10BSCCh. 7.4 - Prob. 11BSCCh. 7.4 - Finding Confidence Intervals. In Exercises 9-16,...Ch. 7.4 - Prob. 13BSCCh. 7.4 - Prob. 14BSCCh. 7.4 - Prob. 15BSCCh. 7.4 - Prob. 16BSCCh. 7.4 - Prob. 17BSCCh. 7.4 - Prob. 18BSCCh. 7.4 - Determining Sample Size. In Exercises 19-22,...Ch. 7.4 - Prob. 20BSCCh. 7.4 - Prob. 21BSCCh. 7.4 - Prob. 22BSCCh. 7.4 - Prob. 23BBCh. 7 - Prob. 1CQQCh. 7 - Prob. 2CQQCh. 7 - Prob. 3CQQCh. 7 - Prob. 4CQQCh. 7 - Prob. 5CQQCh. 7 - Prob. 6CQQCh. 7 - Prob. 7CQQCh. 7 - Prob. 8CQQCh. 7 - Prob. 9CQQCh. 7 - Prob. 10CQQCh. 7 - 1. Overpaid In a Gallup poll of 557 randomly...Ch. 7 - Prob. 2RECh. 7 - Prob. 3RECh. 7 - Prob. 4RECh. 7 - Prob. 5RECh. 7 - Prob. 6RECh. 7 - Prob. 7RECh. 7 - Prob. 8RECh. 7 - Prob. 9RECh. 7 - Prob. 10RECh. 7 - Prob. 1CRECh. 7 - Prob. 2CRECh. 7 - Prob. 3CRECh. 7 - Prob. 4CRECh. 7 - Prob. 5CRECh. 7 - Prob. 6CRECh. 7 - 7. Purell Survey In a survey of 1003 people, 59%...Ch. 7 - Prob. 8CRECh. 7 - Prob. 9CRECh. 7 - Prob. 10CRECh. 7 - Prob. 1FDDCh. 7 - Prob. 2FDDCh. 7 - Prob. 3FDDCh. 7 - Prob. 5FDDCh. 7 - Prob. 6FDD
Knowledge Booster
Similar questions
- Scenario Sales of products by color follow a peculiar, but predictable, pattern that determines how many units will sell in any given year. This pattern is shown below Product Color 1995 1996 1997 Red 28 42 21 1998 23 1999 29 2000 2001 2002 Unit Sales 2003 2004 15 8 4 2 1 2005 2006 discontinued Green 26 39 20 22 28 14 7 4 2 White 43 65 33 36 45 23 12 Brown 58 87 44 48 60 Yellow 37 56 28 31 Black 28 42 21 Orange 19 29 Purple Total 28 42 21 49 68 78 95 123 176 181 164 127 24 179 Questions A) Which color will sell the most units in 2007? B) Which color will sell the most units combined in the 2007 to 2009 period? Please show all your analysis, leave formulas in cells, and specify any assumptions you make.arrow_forwardOne hundred students were surveyed about their preference between dogs and cats. The following two-way table displays data for the sample of students who responded to the survey. Preference Male Female TOTAL Prefers dogs \[36\] \[20\] \[56\] Prefers cats \[10\] \[26\] \[36\] No preference \[2\] \[6\] \[8\] TOTAL \[48\] \[52\] \[100\] problem 1 Find the probability that a randomly selected student prefers dogs.Enter your answer as a fraction or decimal. \[P\left(\text{prefers dogs}\right)=\] Incorrect Check Hide explanation Preference Male Female TOTAL Prefers dogs \[\blueD{36}\] \[\blueD{20}\] \[\blueE{56}\] Prefers cats \[10\] \[26\] \[36\] No preference \[2\] \[6\] \[8\] TOTAL \[48\] \[52\] \[100\] There were \[\blueE{56}\] students in the sample who preferred dogs out of \[100\] total students.arrow_forwardBusiness discussarrow_forward
- You have been hired as an intern to run analyses on the data and report the results back to Sarah; the five questions that Sarah needs you to address are given below. Does there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship. Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship. Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. (In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size). Include the manufacturer dummy variable (Samsung=1, 0 otherwise) and estimate the relationship between screen size, price and manufacturer dummy as a multiple linear regression model. Interpret the…arrow_forwardDoes there appear to be a positive or negative relationship between price and screen size? Use a scatter plot to examine the relationship. How to take snapshots: if you use a MacBook, press Command+ Shift+4 to take snapshots. If you are using Windows, use the Snipping Tool to take snapshots. Question 1: Determine and interpret the correlation coefficient between the two variables. In your interpretation, discuss the direction of the relationship (positive, negative, or zero relationship). Also discuss the strength of the relationship. Value of correlation coefficient: Direction of the relationship (positive, negative, or zero relationship): Strength of the relationship (strong/moderate/weak): Question 2: Estimate the relationship between screen size and price using a simple linear regression model and interpret the estimated coefficients. In your interpretation, tell the dollar amount by which price will change for each unit of increase in screen size. (The answer for the…arrow_forwardIn this problem, we consider a Brownian motion (W+) t≥0. We consider a stock model (St)t>0 given (under the measure P) by d.St 0.03 St dt + 0.2 St dwt, with So 2. We assume that the interest rate is r = 0.06. The purpose of this problem is to price an option on this stock (which we name cubic put). This option is European-type, with maturity 3 months (i.e. T = 0.25 years), and payoff given by F = (8-5)+ (a) Write the Stochastic Differential Equation satisfied by (St) under the risk-neutral measure Q. (You don't need to prove it, simply give the answer.) (b) Give the price of a regular European put on (St) with maturity 3 months and strike K = 2. (c) Let X = S. Find the Stochastic Differential Equation satisfied by the process (Xt) under the measure Q. (d) Find an explicit expression for X₁ = S3 under measure Q. (e) Using the results above, find the price of the cubic put option mentioned above. (f) Is the price in (e) the same as in question (b)? (Explain why.)arrow_forward
- Problem 4. Margrabe formula and the Greeks (20 pts) In the homework, we determined the Margrabe formula for the price of an option allowing you to swap an x-stock for a y-stock at time T. For stocks with initial values xo, yo, common volatility σ and correlation p, the formula was given by Fo=yo (d+)-x0Þ(d_), where In (±² Ꭲ d+ õ√T and σ = σ√√√2(1 - p). дго (a) We want to determine a "Greek" for ỡ on the option: find a formula for θα (b) Is дго θα positive or negative? (c) We consider a situation in which the correlation p between the two stocks increases: what can you say about the price Fo? (d) Assume that yo< xo and p = 1. What is the price of the option?arrow_forwardWe consider a 4-dimensional stock price model given (under P) by dẴ₁ = µ· Xt dt + йt · ΣdŴt where (W) is an n-dimensional Brownian motion, π = (0.02, 0.01, -0.02, 0.05), 0.2 0 0 0 0.3 0.4 0 0 Σ= -0.1 -4a За 0 0.2 0.4 -0.1 0.2) and a E R. We assume that ☑0 = (1, 1, 1, 1) and that the interest rate on the market is r = 0.02. (a) Give a condition on a that would make stock #3 be the one with largest volatility. (b) Find the diversification coefficient for this portfolio as a function of a. (c) Determine the maximum diversification coefficient d that you could reach by varying the value of a? 2arrow_forwardQuestion 1. Your manager asks you to explain why the Black-Scholes model may be inappro- priate for pricing options in practice. Give one reason that would substantiate this claim? Question 2. We consider stock #1 and stock #2 in the model of Problem 2. Your manager asks you to pick only one of them to invest in based on the model provided. Which one do you choose and why ? Question 3. Let (St) to be an asset modeled by the Black-Scholes SDE. Let Ft be the price at time t of a European put with maturity T and strike price K. Then, the discounted option price process (ert Ft) t20 is a martingale. True or False? (Explain your answer.) Question 4. You are considering pricing an American put option using a Black-Scholes model for the underlying stock. An explicit formula for the price doesn't exist. In just a few words (no more than 2 sentences), explain how you would proceed to price it. Question 5. We model a short rate with a Ho-Lee model drt = ln(1+t) dt +2dWt. Then the interest rate…arrow_forward
- In this problem, we consider a Brownian motion (W+) t≥0. We consider a stock model (St)t>0 given (under the measure P) by d.St 0.03 St dt + 0.2 St dwt, with So 2. We assume that the interest rate is r = 0.06. The purpose of this problem is to price an option on this stock (which we name cubic put). This option is European-type, with maturity 3 months (i.e. T = 0.25 years), and payoff given by F = (8-5)+ (a) Write the Stochastic Differential Equation satisfied by (St) under the risk-neutral measure Q. (You don't need to prove it, simply give the answer.) (b) Give the price of a regular European put on (St) with maturity 3 months and strike K = 2. (c) Let X = S. Find the Stochastic Differential Equation satisfied by the process (Xt) under the measure Q. (d) Find an explicit expression for X₁ = S3 under measure Q. (e) Using the results above, find the price of the cubic put option mentioned above. (f) Is the price in (e) the same as in question (b)? (Explain why.)arrow_forwardThe managing director of a consulting group has the accompanying monthly data on total overhead costs and professional labor hours to bill to clients. Complete parts a through c. Question content area bottom Part 1 a. Develop a simple linear regression model between billable hours and overhead costs. Overhead Costsequals=212495.2212495.2plus+left parenthesis 42.4857 right parenthesis42.485742.4857times×Billable Hours (Round the constant to one decimal place as needed. Round the coefficient to four decimal places as needed. Do not include the $ symbol in your answers.) Part 2 b. Interpret the coefficients of your regression model. Specifically, what does the fixed component of the model mean to the consulting firm? Interpret the fixed term, b 0b0, if appropriate. Choose the correct answer below. A. The value of b 0b0 is the predicted billable hours for an overhead cost of 0 dollars. B. It is not appropriate to interpret b 0b0, because its value…arrow_forwardUsing the accompanying Home Market Value data and associated regression line, Market ValueMarket Valueequals=$28,416+$37.066×Square Feet, compute the errors associated with each observation using the formula e Subscript ieiequals=Upper Y Subscript iYiminus−ModifyingAbove Upper Y with caret Subscript iYi and construct a frequency distribution and histogram. LOADING... Click the icon to view the Home Market Value data. Question content area bottom Part 1 Construct a frequency distribution of the errors, e Subscript iei. (Type whole numbers.) Error Frequency minus−15 comma 00015,000less than< e Subscript iei less than or equals≤minus−10 comma 00010,000 0 minus−10 comma 00010,000less than< e Subscript iei less than or equals≤minus−50005000 5 minus−50005000less than< e Subscript iei less than or equals≤0 21 0less than< e Subscript iei less than or equals≤50005000 9…arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSON
The Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. Freeman
Introduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman