Understandable Statistics: Concepts and Methods
12th Edition
ISBN: 9781337119917
Author: Charles Henry Brase, Corrinne Pellillo Brase
Publisher: Cengage Learning
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Chapter 7.2, Problem 21P
(a)
To determine
Check the
Check the standard deviation by using the calculator.
(b)
To determine
Find the 90% confidence interval for the P/E population mean of all large U.S. companies.
(c)
To determine
Find the 99% confidence interval for the P/E population mean of all large U.S. companies.
(d)
To determine
Explain how the stocks of ‘Bank One, AT&T Wireless, and Disney’ can be interpreted at the time when sample was taken.
(e)
To determine
Explain whether it is necessary to make any assumptions for the problem.
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Solve the following LP problem using the Extreme Point Theorem:
Subject to:
Maximize Z-6+4y
2+y≤8
2x + y ≤10
2,y20
Solve it using the graphical method.
Guidelines for preparation for the teacher's
questions:
Understand the basics of Linear Programming (LP)
1. Know how to formulate an LP model.
2. Be able to identify decision variables, objective
functions, and constraints.
Be comfortable with graphical solutions
3. Know how to plot feasible regions and find extreme
points.
4. Understand how constraints affect the solution space.
Understand the Extreme Point Theorem
5. Know why solutions always occur at extreme points.
6. Be able to explain how optimization changes with
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Think about real-world implications
7. Consider how removing or modifying constraints
affects the solution.
8. Be prepared to explain why LP problems are used in
business, economics, and operations research.
ged the variance for group 1) Different groups
of male stalk-eyed flies were raised on different diets: a high nutrient corn diet vs. a
low nutrient cotton wool diet. Investigators wanted to see if diet quality influenced
eye-stalk length. They obtained the following data:
d
Diet
Sample Mean Eye-stalk Length
Variance in Eye-stalk
d
size, n
(mm)
Length (mm²)
Corn (group 1)
21
2.05
0.0558
Cotton (group 2)
24
1.54
0.0812
=205-1.54-05T
a) Construct a 95% confidence interval for the difference in mean eye-stalk length
between the two diets (e.g., use group 1 - group 2).
An article in Business Week discussed the large spread between the federal funds rate and the average credit card rate. The table below is a frequency distribution of
the credit card rate charged by the top 100 issuers.
Credit Card Rates
Credit Card Rate
Frequency
18% -23%
19
17% -17.9%
16
16% -16.9%
31
15% -15.9%
26
14% -14.9%
Copy Data
8
Step 1 of 2: Calculate the average credit card rate charged by the top 100 issuers based on the frequency distribution. Round your answer to two decimal places.
Chapter 7 Solutions
Understandable Statistics: Concepts and Methods
Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - In Problems 18, answer true or false. Explain your...Ch. 7.1 - Critical Thinking Sam computed a 95% confidence...Ch. 7.1 - Critical Thinking Sam computed a 90% confidence...
Ch. 7.1 - Basic Computation: Confidence Interval Suppose x...Ch. 7.1 - Basic Computation: Confidence Interval Suppose x...Ch. 7.1 - Basic Computation: Sample Size Suppose x has a...Ch. 7.1 - Basic Computation: Sample Size Suppose x has a...Ch. 7.1 - Zoology: Hummingbirds Allens hummingbird...Ch. 7.1 - Diagnostic Tests: Uric Acid Overproduction of uric...Ch. 7.1 - Diagnostic Tests: Plasma Volume Total plasma...Ch. 7.1 - Agriculture: Watermelon What price do farmers get...Ch. 7.1 - Prob. 19PCh. 7.1 - Confidence Intervals: Values of A random sample...Ch. 7.1 - Confidence Intervals: Sample Size A random sample...Ch. 7.1 - Ecology: Sand Dunes At wind speeds above 1000...Ch. 7.1 - Prob. 23PCh. 7.1 - Prob. 24PCh. 7.1 - Prob. 25PCh. 7.2 - Use Table 6 of Appendix II to find tc for a 0.95...Ch. 7.2 - Prob. 2PCh. 7.2 - Prob. 3PCh. 7.2 - Prob. 4PCh. 7.2 - Prob. 5PCh. 7.2 - Prob. 6PCh. 7.2 - Prob. 7PCh. 7.2 - Prob. 8PCh. 7.2 - Prob. 9PCh. 7.2 - Prob. 10PCh. 7.2 - Basic Computation: Confidence Interval Suppose x...Ch. 7.2 - Basic Computation: Confidence Interval A random...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - In Problems 1319, assume that the population of x...Ch. 7.2 - Prob. 18PCh. 7.2 - Prob. 19PCh. 7.2 - Prob. 20PCh. 7.2 - Prob. 21PCh. 7.2 - Prob. 22PCh. 7.2 - Prob. 23PCh. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 2PCh. 7.3 - Prob. 3PCh. 7.3 - Prob. 4PCh. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 6PCh. 7.3 - Prob. 7PCh. 7.3 - Prob. 8PCh. 7.3 - Prob. 9PCh. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 11PCh. 7.3 - Prob. 12PCh. 7.3 - Prob. 13PCh. 7.3 - For all these problems, carry at least four digits...Ch. 7.3 - Prob. 15PCh. 7.3 - Prob. 16PCh. 7.3 - Prob. 17PCh. 7.3 - Prob. 18PCh. 7.3 - Prob. 19PCh. 7.3 - Prob. 20PCh. 7.3 - Prob. 21PCh. 7.3 - Prob. 22PCh. 7.3 - Prob. 23PCh. 7.3 - Prob. 24PCh. 7.3 - Prob. 25PCh. 7.3 - Prob. 26PCh. 7.3 - Prob. 27PCh. 7.3 - Prob. 28PCh. 7.4 - Prob. 1PCh. 7.4 - Prob. 2PCh. 7.4 - Prob. 3PCh. 7.4 - Prob. 4PCh. 7.4 - Prob. 5PCh. 7.4 - Prob. 6PCh. 7.4 - Prob. 7PCh. 7.4 - Prob. 8PCh. 7.4 - Prob. 9PCh. 7.4 - Prob. 10PCh. 7.4 - Prob. 11PCh. 7.4 - Prob. 12PCh. 7.4 - Prob. 13PCh. 7.4 - Prob. 14PCh. 7.4 - Prob. 15PCh. 7.4 - Prob. 16PCh. 7.4 - Answers may vary slightly due to rounding....Ch. 7.4 - Prob. 18PCh. 7.4 - Prob. 19PCh. 7.4 - Prob. 20PCh. 7.4 - Prob. 21PCh. 7.4 - Prob. 22PCh. 7.4 - Prob. 23PCh. 7.4 - Prob. 24PCh. 7.4 - Prob. 25PCh. 7.4 - Prob. 26PCh. 7.4 - Prob. 27PCh. 7.4 - Prob. 28PCh. 7.4 - Prob. 29PCh. 7.4 - Prob. 30PCh. 7.4 - Prob. 31PCh. 7 - Prob. 1CRPCh. 7 - Critical Thinking Suppose you are told that a 95%...Ch. 7 - Prob. 3CRPCh. 7 - Prob. 4CRPCh. 7 - Prob. 5CRPCh. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 7CRPCh. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 9CRPCh. 7 - For Problems 419, categorize each problem...Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 13CRPCh. 7 - Prob. 14CRPCh. 7 - Prob. 15CRPCh. 7 - For Problems 419, categorize each problem...Ch. 7 - Prob. 17CRPCh. 7 - Prob. 18CRPCh. 7 - Prob. 19CRPCh. 7 - Prob. 1DHCh. 7 - Prob. 2DHCh. 7 - Prob. 3DHCh. 7 - Prob. 1LCCh. 7 - Prob. 2LCCh. 7 - Prob. 3LCCh. 7 - Prob. 1UT
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