Fundamentals of Statistics (5th Edition)
5th Edition
ISBN: 9780134508306
Author: Michael Sullivan III
Publisher: PEARSON
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Chapter 7.3, Problem 10AYU
In Problems 7–10, use a normal
10. Memphis Snowfall A random sample of 25 years between 1890 and 2011 was obtained, and the amount of snowfall, in inches, for Memphis was recorded.
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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
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.
Chapter 7 Solutions
Fundamentals of Statistics (5th Edition)
Ch. 7.1 - A _____ _____ _____ is an equation used to compute...Ch. 7.1 - A _______ is an equation, table, or graph used to...Ch. 7.1 - True or False: The normal curve is symmetric about...Ch. 7.1 - The area under the normal curve to the right of ...Ch. 7.1 - The points at x = _____ and x = _____ are the...Ch. 7.1 - The area under a normal curve can be interpreted...Ch. 7.1 - For Problems 712, determine whether the graph can...Ch. 7.1 - For Problems 712, determine whether the graph can...Ch. 7.1 - For Problems 712, determine whether the graph can...Ch. 7.1 - Prob. 10AYU
Ch. 7.1 - For Problems 712, determine whether the graph can...Ch. 7.1 - For Problems 712, determine whether the graph can...Ch. 7.1 - Problems 1316 use the information presented in...Ch. 7.1 - Problems 1316 use the information presented in...Ch. 7.1 - Prob. 15AYUCh. 7.1 - Problems 1316 use the information presented in...Ch. 7.1 - Uniform Distribution The random-number generator...Ch. 7.1 - Uniform Distribution The reaction time X (in...Ch. 7.1 - In Problems 1922, determine whether or not the...Ch. 7.1 - In Problems 1922, determine whether or not the...Ch. 7.1 - In Problems 1922, determine whether or not the...Ch. 7.1 - In Problems 1922, determine whether or not the...Ch. 7.1 - One graph in the figure on the following page...Ch. 7.1 - One graph in the figure below represents a normal...Ch. 7.1 - In Problems 2528, the graph of a normal curve is...Ch. 7.1 - In Problems 2528, the graph of a normal curve is...Ch. 7.1 - Prob. 27AYUCh. 7.1 - In Problems 2528, the graph of a normal curve is...Ch. 7.1 - In Problems 29 and 30, draw a normal curve and...Ch. 7.1 - Prob. 30AYUCh. 7.1 - NW You Explain It! Cell Phone Rates Monthly...Ch. 7.1 - You Explain It! Refrigerators The lives of...Ch. 7.1 - You Explain It! Birth Weights The birth weights of...Ch. 7.1 - You Explain It! Height of 10-Year-Old Males The...Ch. 7.1 - NW You Explain It! Gestation Period The lengths of...Ch. 7.1 - Prob. 36AYUCh. 7.1 - Hitting with a Pitching Wedge In the game of golf,...Ch. 7.1 - Heights of Five-Year-Old Females The following...Ch. 7.1 - Cardiac Arrest Researchers conducted a prospective...Ch. 7.2 - A random variable Z that is normally distributed...Ch. 7.2 - The notation z is the z-score such that the area...Ch. 7.2 - If X is a normal random variable with mean 40 and...Ch. 7.2 - If X is normal random variable with mean 40 and...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 512, find the indicated areas. For...Ch. 7.2 - In Problems 1318, find the indicated z-score. Be...Ch. 7.2 - In Problems 1318, find the indicated z-score. Be...Ch. 7.2 - In Problems 1318, find the indicated z-score. Be...Ch. 7.2 - In Problems 1318, find the indicated z-score. Be...Ch. 7.2 - In Problems 1318, find the indicated z-score. Be...Ch. 7.2 - In Problems 1318, find the indicated z-score. Be...Ch. 7.2 - In Problems 1922, find the value of z. 19. NW...Ch. 7.2 - In Problems 1922, find the value of z. 20. z0.02Ch. 7.2 - In Problems 1922, find the value of z. 21. z0.025Ch. 7.2 - In Problems 1922, find the value of z. 22. z0.015Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 2332, assume that the random variable...Ch. 7.2 - In Problems 3336, assume that the random variable...Ch. 7.2 - In Problems 3336, assume that the random variable...Ch. 7.2 - In Problems 3336, assume that the random variable...Ch. 7.2 - In Problems 3336, assume that the random variable...Ch. 7.2 - Egg Incubation Times The mean incubation time of...Ch. 7.2 - Reading Rates The reading speed of sixth-grade...Ch. 7.2 - NW Chips Ahoy! Cookies The number of chocolate...Ch. 7.2 - Wendys Drive-Through Fast-food restaurants spend...Ch. 7.2 - Gestation Period The lengths of human pregnancies...Ch. 7.2 - Light Bulbs General Electric manufactures a...Ch. 7.2 - Manufacturing Steel rods are manufactured with a...Ch. 7.2 - Manufacturing Ball bearings are manufactured with...Ch. 7.2 - NCAA Basketball Point Spreads In sports betting,...Ch. 7.2 - Prob. 46AYUCh. 7.2 - NW Egg Incubation Times The mean incubation time...Ch. 7.2 - Reading Rates The reading speed of sixth-grade...Ch. 7.2 - Chips Ahoy! Cookies The number of chocolate chips...Ch. 7.2 - Wendys Drive-Through Fast-food restaurants spend...Ch. 7.2 - Speedy Lube The time required for Speedy Lube to...Ch. 7.2 - Putting It Together: Birth Weights The following...Ch. 7.2 - Prob. 53AYUCh. 7.2 - Prob. 54AYUCh. 7.2 - Explain why P(X 220) should be reported as ...Ch. 7.2 - The ACT and SAT are two college entrance exams....Ch. 7.3 - A _____ _____ _____ is a graph that plots observed...Ch. 7.3 - True or False: A normal score is the expected...Ch. 7.3 - In Problems 36, use the results in the table to...Ch. 7.3 - In Problems 36, use the results in the table to...Ch. 7.3 - In Problems 36, use the results in the table to...Ch. 7.3 - In Problems 36, use the results in the table to...Ch. 7.3 - In Problems 710, use a normal probability plot to...Ch. 7.3 - In Problems 710, use a normal probability plot to...Ch. 7.3 - In Problems 710, use a normal probability plot to...Ch. 7.3 - In Problems 710, use a normal probability plot to...Ch. 7.3 - Chips per Bag In a 1998 advertising campaign,...Ch. 7.3 - Hours of TV A random sample of college students...Ch. 7.3 - Putting It Together: Demon Roller Coaster Retrieve...Ch. 7.4 - In a binomial experiment with n trials and...Ch. 7.4 - When adding or subtracting 0.5 from X, we are...Ch. 7.4 - Suppose X is a binomial random variable. To...Ch. 7.4 - Suppose X is a binomial random variable. To...Ch. 7.4 - In Problems 514, a discrete random variable is...Ch. 7.4 - In Problems 514, a discrete random variable is...Ch. 7.4 - In Problems 514, a discrete random variable is...Ch. 7.4 - In Problems 514, a discrete random variable is...Ch. 7.4 - Prob. 9AYUCh. 7.4 - In Problems 514, a discrete random variable is...Ch. 7.4 - Prob. 11AYUCh. 7.4 - In Problems 514, a discrete random variable is...Ch. 7.4 - Prob. 13AYUCh. 7.4 - Prob. 14AYUCh. 7.4 - In Problems 1520, compute P(x) using the binomial...Ch. 7.4 - In Problems 1520, compute P(x) using the binomial...Ch. 7.4 - In Problems 1520, compute P(x) using the binomial...Ch. 7.4 - In Problems 1520, compute P(x) using the binomial...Ch. 7.4 - Prob. 19AYUCh. 7.4 - Prob. 20AYUCh. 7.4 - NW On-Time Flights According to American Airlines,...Ch. 7.4 - Prob. 22AYUCh. 7.4 - Prob. 23AYUCh. 7.4 - Sneeze According to a study done by Nick Wilson of...Ch. 7.4 - Males Living at Home According to the Current...Ch. 7.4 - Females Living at Home According to the Current...Ch. 7.4 - NW Boys Are Preferred In a Gallup poll, 37% of...Ch. 7.4 - Liars According to a USA Today Snapshot, 3% of...Ch. 7 - Use the figure to answer the questions that...Ch. 7 - In Problems 2 and 3, draw a standard normal curve...Ch. 7 - In Problems 2 and 3, draw a standard normal curve...Ch. 7 - Find the z-score such that the area to the right...Ch. 7 - Prob. 5RECh. 7 - Prob. 6RECh. 7 - Prob. 7RECh. 7 - Prob. 8RECh. 7 - Prob. 9RECh. 7 - Tire Wear Suppose that Dunlop Tire manufactures a...Ch. 7 - Wechsler Intelligence Scale The Wechsler...Ch. 7 - Major League Baseballs According to Major League...Ch. 7 - America Reads According to a Gallup poll, 46% of...Ch. 7 - Prob. 14RECh. 7 - Hector obtained a random sample of twenty recent...Ch. 7 - Density of Earth In 1798, Henry Cavendish obtained...Ch. 7 - Creative Thinking According to a USA Today...Ch. 7 - A continuous random variable X is uniformly...Ch. 7 - List the properties of the normal density curve.Ch. 7 - Prob. 20RECh. 7 - Prob. 1CTCh. 7 - Prob. 2CTCh. 7 - Prob. 3CTCh. 7 - Prob. 4CTCh. 7 - Prob. 5CTCh. 7 - Suppose that the talk time on the Apple iPhone is...Ch. 7 - The waist circumference of males 2029 years old is...Ch. 7 - Suppose the scores earned on Professor McArthurs...Ch. 7 - In a poll conducted by the Gallup organization,...Ch. 7 - Prob. 10CTCh. 7 - A continuous random variable X is uniformly...Ch. 7 - The reference interval for HDL cholesterol is...
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- One 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_forwardYou 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_forward
- Does 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_forwardProblem 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_forward
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