STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Question
Chapter 7, Problem 2E
(a)
To determine
To calculate: The values of a and b .
(b)
To determine
To calculate: The mean of the given Uniform distribution.
(c)
To determine
To calculate: The standard deviation of the distribution.
(d)
To determine
To find: The probability of any value between 2 to 5 is equal to 1.0.
(e)
To determine
To calculate: The probability that the random variable is more than 2.6.
(f)
To determine
To find: The probability that a random variable is between 2.9 and 3.7.
(g)
To determine
To calculate: The probability that the random variable is exactly equal to 4.25.
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Calculate the 90% confidence interval for the population mean difference using the data in the attached image. I need to see where I went wrong.
Microsoft Excel snapshot for random sampling: Also note the formula used for the last
column
02
x✓ fx =INDEX(5852:58551, RANK(C2, $C$2:$C$51))
A
B
1
No.
States
2
1
ALABAMA
Rand No.
0.925957526
3
2
ALASKA
0.372999976
4
3
ARIZONA
0.941323044
5
4 ARKANSAS
0.071266381
Random Sample
CALIFORNIA
NORTH CAROLINA
ARKANSAS
WASHINGTON
G7
Microsoft Excel snapshot for systematic sampling:
xfx INDEX(SD52:50551, F7)
A
B
E
F
G
1
No.
States
Rand No. Random Sample
population
50
2
1 ALABAMA
0.5296685 NEW HAMPSHIRE
sample
10
3
2 ALASKA
0.4493186 OKLAHOMA
k
5
4
3 ARIZONA
0.707914 KANSAS
5
4 ARKANSAS 0.4831379 NORTH DAKOTA
6
5 CALIFORNIA 0.7277162 INDIANA
Random Sample
Sample Name
7
6 COLORADO 0.5865002 MISSISSIPPI
8
7:ONNECTICU 0.7640596 ILLINOIS
9
8 DELAWARE 0.5783029 MISSOURI
525
10
15
INDIANA
MARYLAND
COLORADO
Suppose the Internal Revenue Service reported that the mean tax refund for the year 2022 was $3401. Assume the standard deviation is $82.5 and that the amounts refunded follow a normal probability distribution. Solve the following three parts? (For the answer to question 14, 15, and 16, start with making a bell curve. Identify on the bell curve where is mean, X, and area(s) to be determined.
1.What percent of the refunds are more than $3,500?
2. What percent of the refunds are more than $3500 but less than $3579?
3. What percent of the refunds are more than $3325 but less than $3579?
Chapter 7 Solutions
STAT TECH IN BUSINESS & ECON AC
Ch. 7 - Microwave ovens only last so long. The life-time...Ch. 7 - Prob. 1ECh. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - Prob. 5ECh. 7 - Prob. 6ECh. 7 - Prob. 2SRCh. 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 - Prob. 11ECh. 7 - Prob. 12ECh. 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 - Prob. 15ECh. 7 - The mean of a normal probability distribution is...Ch. 7 - Prob. 5SRCh. 7 - Prob. 17ECh. 7 - A normal population has a mean of 80.0 and a...Ch. 7 - Prob. 19ECh. 7 - Prob. 20ECh. 7 - WNAE, an all-news AM station, finds that the...Ch. 7 - Prob. 22ECh. 7 - Prob. 6SRCh. 7 - A normal distribution has a mean of 50 and a...Ch. 7 - Prob. 24ECh. 7 - Prob. 25ECh. 7 - Prob. 26ECh. 7 - Prob. 27ECh. 7 - Prob. 28ECh. 7 - Prob. 29ECh. 7 - Prob. 30ECh. 7 - Prob. 7SRCh. 7 - Prob. 31ECh. 7 - The lifetime of LCD TV sets follows an exponential...Ch. 7 - Prob. 33ECh. 7 - Prob. 34ECh. 7 - Prob. 35CECh. 7 - Prob. 36CECh. 7 - Prob. 37CECh. 7 - Prob. 38CECh. 7 - Prob. 39CECh. 7 - Prob. 40CECh. 7 - Prob. 41CECh. 7 - Prob. 42CECh. 7 - Prob. 43CECh. 7 - Prob. 44CECh. 7 - Shaver Manufacturing Inc. offers dental insurance...Ch. 7 - The annual commissions earned by sales...Ch. 7 - Prob. 47CECh. 7 - Prob. 48CECh. 7 - Management at Gordon Electronics is considering...Ch. 7 - Fast Service Truck Lines uses the Ford Super Duty...Ch. 7 - Prob. 51CECh. 7 - Prob. 52CECh. 7 - The weights of canned hams processed at Henline...Ch. 7 - The price of shares of Bank of Florida at the end...Ch. 7 - Prob. 55CECh. 7 - Prob. 56CECh. 7 - Prob. 57CECh. 7 - Prob. 58CECh. 7 - Prob. 59CECh. 7 - Prob. 61DACh. 7 - Prob. 62DACh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 1CCh. 7 - Prob. 2CCh. 7 - Prob. 3CCh. 7 - Prob. 4CCh. 7 - Prob. 5CCh. 7 - Prob. 1.1PTCh. 7 - Prob. 1.2PTCh. 7 - Prob. 1.3PTCh. 7 - Prob. 1.4PTCh. 7 - Prob. 1.5PTCh. 7 - Prob. 1.6PTCh. 7 - Which of the following is NOT a requirement of the...Ch. 7 - Prob. 1.8PTCh. 7 - How many standard normal distributions are there?...Ch. 7 - Prob. 1.10PTCh. 7 - Prob. 1.11PTCh. 7 - Prob. 1.12PTCh. 7 - Prob. 1.13PTCh. 7 - Prob. 1.14PTCh. 7 - Prob. 1.15PTCh. 7 - Prob. 2.1PTCh. 7 - Prob. 2.2PTCh. 7 - Prob. 2.3PTCh. 7 - Prob. 2.4PTCh. 7 - Prob. 2.5PTCh. 7 - Prob. 2.6PTCh. 7 - Prob. 2.7PT
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