Statistical Techniques in Business and Economics

16th Edition

ISBN: 9780077639723

Author: Lind

Publisher: Mcgraw-Hill Course Content Delivery

See similar textbooks

Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear re…

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

Videos

Textbook Question

Chapter 7, Problem 21E

WNAE, an all-news AM station, finds that the distribution of the lengths of time listeners are tuned to the station follows the normal distribution. The mean of the distribution is 15.0 minutes and the standard deviation is 3.5 minutes. What is the probability that a particular listener will tune in for:

a. More than 20 minutes?
b. 20 minutes or less?
c. Between 10 and 12 minutes?

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 7, Problem 20E

Chapter 7, Problem 22E

Students have asked these similar questions

08:34 ◄ Classroom 07:59 Probs. 5-32/33 D ا. 89 5-34. Determine the horizontal and vertical components of reaction at the pin A and the normal force at the smooth peg B on the member. A 0,4 m 0.4 m Prob. 5-34 F=600 N fr th ar 0. 163586 5-37. The wooden plank resting between the buildings deflects slightly when it supports the 50-kg boy. This deflection causes a triangular distribution of load at its ends. having maximum intensities of w, and wg. Determine w and wg. each measured in N/m. when the boy is standing 3 m from one end as shown. Neglect the mass of the plank. 0.45 m 3 m

Examine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include: Mileage (mpg) Number of Cylinders (cyl) Displacement (disp) Horsepower (hp) Research: Google to understand these variables. Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp Mean Median First Quartile (Q1) Second Quartile (Q2) Third Quartile (Q3) Fourth Quartile (Q4) 10th Percentile 70th Percentile Skewness Kurtosis Document Your Results: In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command” In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…

Chapter 7 Solutions

Statistical Techniques in Business and Economics

Ch. 7 - Microwave ovens only last so long. The life-time...Ch. 7 - Prob. 1E Ch. 7 - Prob. 2E Ch. 7 - Prob. 3E Ch. 7 - Prob. 4E Ch. 7 - Prob. 5E Ch. 7 - Prob. 6E Ch. 7 - Prob. 2SR Ch. 7 - The distribution of the annual incomes of a group...Ch. 7 - Explain what is meant by this statement: There is...

Ch. 7 - List the major characteristics of a normal...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The Kamp family has twins, Rob and Rachel. Both...Ch. 7 - Prob. 12E Ch. 7 - The temperature of coffee sold at the Coffee Bean...Ch. 7 - A normal population has a mean of 20.0 and a...Ch. 7 - A normal population has a mean of 12.2 and a...Ch. 7 - A recent study of the hourly wages of maintenance...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - Prob. 5SR Ch. 7 - Prob. 17E Ch. 7 - A normal population has a mean of 80.0 and a...Ch. 7 - According to the Internal Revenue Service, the...Ch. 7 - Prob. 20E Ch. 7 - WNAE, an all-news AM station, finds that the...Ch. 7 - Prob. 22E Ch. 7 - Prob. 6SR Ch. 7 - A normal distribution has a mean of 50 and a...Ch. 7 - Prob. 24E Ch. 7 - Prob. 25E Ch. 7 - Prob. 26E Ch. 7 - Prob. 27E Ch. 7 - Prob. 28E Ch. 7 - Prob. 29E Ch. 7 - Prob. 30E Ch. 7 - Prob. 7SR Ch. 7 - Prob. 31E Ch. 7 - Prob. 32E Ch. 7 - Prob. 33E Ch. 7 - Prob. 34E Ch. 7 - Prob. 35E Ch. 7 - Prob. 36E Ch. 7 - Prob. 8SR Ch. 7 - Prob. 37E Ch. 7 - The lifetime of LCD TV sets follows an exponential...Ch. 7 - Prob. 39E Ch. 7 - Prob. 40E Ch. 7 - Prob. 41CE Ch. 7 - Prob. 42CE Ch. 7 - Prob. 43CE Ch. 7 - Prob. 44CE Ch. 7 - Prob. 45CE Ch. 7 - Prob. 46CE Ch. 7 - Prob. 47CE Ch. 7 - Prob. 48CE Ch. 7 - Shaver Manufacturing Inc. offers dental insurance...Ch. 7 - The annual commissions earned by sales...Ch. 7 - Prob. 51CE Ch. 7 - Prob. 52CE Ch. 7 - Management at Gordon Electronics is considering...Ch. 7 - Fast Service Truck Lines uses the Ford Super Duty...Ch. 7 - Prob. 55CE Ch. 7 - Prob. 56CE Ch. 7 - Prob. 57CE Ch. 7 - Prob. 58CE Ch. 7 - Prob. 59CE Ch. 7 - Prob. 60CE Ch. 7 - Prob. 61CE Ch. 7 - Prob. 62CE Ch. 7 - The weights of canned hams processed at Henline...Ch. 7 - Prob. 64CE Ch. 7 - Prob. 65CE Ch. 7 - The price of shares of Bank of Florida at the end...Ch. 7 - Prob. 67CE Ch. 7 - Prob. 68CE Ch. 7 - Prob. 69CE Ch. 7 - Prob. 70CE Ch. 7 - Prob. 71CE Ch. 7 - Prob. 72CE Ch. 7 - Prob. 73CE Ch. 7 - Prob. 74DE Ch. 7 - Prob. 75DE Ch. 7 - Prob. 76DE Ch. 7 - Prob. 1P Ch. 7 - Prob. 2P Ch. 7 - Prob. 3P Ch. 7 - Prob. 4P Ch. 7 - Prob. 5P Ch. 7 - Prob. 6P Ch. 7 - Prob. 1.1PT Ch. 7 - Prob. 1.2PT Ch. 7 - Prob. 1.3PT Ch. 7 - Prob. 1.4PT Ch. 7 - Prob. 1.5PT Ch. 7 - Prob. 1.6PT Ch. 7 - Which of the following is NOT a requirement of the...Ch. 7 - Prob. 1.8PT Ch. 7 - How many standard normal distributions are there?...Ch. 7 - Prob. 1.10PT Ch. 7 - Prob. 1.11PT Ch. 7 - Prob. 1.12PT Ch. 7 - Prob. 1.13PT Ch. 7 - Prob. 1.14PT Ch. 7 - Prob. 1.15PT Ch. 7 - Prob. 2.1PT Ch. 7 - Prob. 2.2PT Ch. 7 - Prob. 2.3PT Ch. 7 - Prob. 2.4PT Ch. 7 - Prob. 2.5PT Ch. 7 - Prob. 2.6PT Ch. 7 - Prob. 2.7PT

Knowledge Booster

$Statistics$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Solution Summary: The author calculates the probability that a particular listener tunes in for more than 20 minutes. The distribution of the lengths of time listeners are tuned to the station follows the normal distribution with mean of 15.0 minutes and standard deviation

Concept explainers

Videos

Want to see the full answer?

Chapter 7 Solutions