EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Textbook Question
Chapter 7, Problem 50SE
About 28% of private companies are owned by women (The Cincinnati Enquirer, January 26, 2006). Answer the following questions based on a sample of 240 private companies.
- a. Show the sampling distribution of
- b. What is the
probability the sample proportion will be within ±.04 of the population proportion? - c. What is the probability the sample proportion will be within ±.02 of the population proportion?
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Question 2: When John started his first job, his first end-of-year salary was $82,500. In the following years, he received salary raises as shown in the following table.
Fill the Table: Fill the following table showing his end-of-year salary for each year. I have already provided the end-of-year salaries for the first three years. Calculate the end-of-year salaries for the remaining years using Excel. (If you Excel answer for the top 3 cells is not the same as the one in the following table, your formula / approach is incorrect) (2 points)
Geometric Mean of Salary Raises: Calculate the geometric mean of the salary raises using the percentage figures provided in the second column named “% Raise”. (The geometric mean for this calculation should be nearly identical to the arithmetic mean. If your answer deviates significantly from the mean, it's likely incorrect. 2 points)
Hint for the first part of question 2: To assist you with filling out the table in the first part of the question,…
Consider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the range, interquartile range, variance, and standard deviation (to a maximum of 2 decimals, if decimals are necessary).
Range
Interquartile range
Variance
Standard deviation
Perform a Step by step following tests in Microsoft Excel. Each of the following is 0.5 points, with a total of 6 points. Provide your answers in the following table.
Median
Standard Deviation
Minimum
Maximum
Range
1st Quartile
2nd Quartile
3rd Quartile
Skewness; provide a one sentence explanation of what does the skewness value indicates
Kurtosis; provide a one sentence explanation of what does the kurtosis value indicates
Make a labelled histogram; no point awarded if it is not labelled
Make a labelled boxplot; no point awarded if it is not labelled
Data
27
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Chapter 7 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
Ch. 7.2 - Consider a finite population with five elements...Ch. 7.2 - Assume a finite population has 350 elements. Using...Ch. 7.2 - Fortune publishes data on sales, profits, assets,...Ch. 7.2 - The 10 most active stocks on the New York Stock...Ch. 7.2 - A student government organization is interested in...Ch. 7.2 - The County and City Data Book, published by the...Ch. 7.2 - Assume that we want to identify a simple random...Ch. 7.2 - The following stocks make up the Dow Jones...Ch. 7.2 - The Wall Street Journal provides the net asset...Ch. 7.2 - Indicate which of the following situations involve...
Ch. 7.3 - The following data are from a simple random...Ch. 7.3 - A survey question for a sample of 150 individuals...Ch. 7.3 - A sample of 5 months of sales data provided the...Ch. 7.3 - BusinessWeek published information on 283 equity...Ch. 7.3 - Many drugs used to treat cancer are expensive....Ch. 7.3 - A sample of 426 U.S. adults age 50 and older were...Ch. 7.3 - The American Association of Individual Investors...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - Assume the population standard deviation is = 25....Ch. 7.5 - Suppose a random sample of size 50 is selected...Ch. 7.5 - Refer to the EAI sampling problem. Suppose a...Ch. 7.5 - In the EAI sampling problem (see Figure 7.5), we...Ch. 7.5 - Barrons reported that the average number of weeks...Ch. 7.5 - The College Board reported the following mean...Ch. 7.5 - The mean annual cost of automobile insurance is...Ch. 7.5 - The Economic Policy Institute periodically issues...Ch. 7.5 - The average score for male golfers is 95 and the...Ch. 7.5 - The mean preparation fee HR Block charged retail...Ch. 7.5 - To estimate the mean age for a population of 4000...Ch. 7.6 - A sample of size 100 is selected from a population...Ch. 7.6 - A population proportion is .40. A sample of size...Ch. 7.6 - Assume that the population proportion is .55....Ch. 7.6 - The population proportion is .30. What is the...Ch. 7.6 - The president of Doerman Distributors, Inc.,...Ch. 7.6 - The Wall Street Journal reported that the age at...Ch. 7.6 - People end up tossing 12% of what they buy at the...Ch. 7.6 - Forty-two percent of primary care doctors think...Ch. 7.6 - In 2008 the Better Business Bureau settled 75% of...Ch. 7.6 - The Grocery Manufacturers of America reported that...Ch. 7.6 - The Food Marketing Institute shows that 17% of...Ch. 7 - U.S. News World Report publishes comprehensive...Ch. 7 - The latest available data showed health...Ch. 7 - Foot Locker uses sales per square foot as a...Ch. 7 - The mean television viewing time for Americans is...Ch. 7 - After deducting grants based on need, the average...Ch. 7 - Three firms carry inventories that differ in size....Ch. 7 - A researcher reports survey results by stating...Ch. 7 - A production process is checked periodically by a...Ch. 7 - About 28% of private companies are owned by women...Ch. 7 - A market research firm conducts telephone surveys...Ch. 7 - Advertisers contract with Internet service...Ch. 7 - The proportion of individuals insured by the...Ch. 7 - Lori Jeffrey is a successful sales representative...
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