7th Edition

ISBN: 8220103612005

Author: Costenoble

Publisher: CENGAGE L

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Statistics is the study of data collection, organization, analysis, interpretation, and presentation. Statistical bias is a characteristic of a statistical technique or its findings in which the expected value deviates from the actual root quantitative p…

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Textbook Question

Chapter 7.4, Problem 63E

Day Trading Day traders typically buy and sell stocks (or other investment instruments) during the trading day and sell all investments by the end of the day. Exercises 63 and 64 are based on the following table, which shows the closing prices on September 22, 2015, of 12 stocks selected by your broker, Prudence Swift, as well as the change that day.²²

Tech Stocks	Close	Change
AAPL (Apple)	$113.40	–1.81
ADBE (Adobe Systems)	$84.66	1.34
EBAY (eBay)	$25.61	–0.31
MSFT (Microsoft)	$3.90	–0.21
S (Sprint)	$4.40	0.02
WIFI (Boingo Wireless)	$8.51	0.56
Non-Tech Stocks
ANF (Abercrombie & Fitch	$21.81	–0.02
B (Boeing)	$133.99	–2.03
F (Ford Motor Co.)	$13.91	–0.40
GE (General Electric)	$25.10	0.01
GIS (General Mills)	$57.12	0.33
JNJ (Johnson & Johnson)	$93.26	0.13

OnthemorningofSeptember22,2015, Swift advised you to purchase a collection of three tech stocks and two non-tech stocks, all chosen at random from those listed in the table. You were to sell all the stocks at the end of the trading day. a. How many possible collections are possible?

a. How many possible collections are possible?

b. You tend to have bad luck with stocks—they usually start going down the moment you buy them. How many of the collections in part (a) consist entirely of stocks that declined in value by the end of the day?

c. Using the answers to parts (a) and (b), what would you say your chances were of choosing a collection consisting entirely of stocks that declined in value by the end of the day?

Expert Solution & Answer

Chapter 7 Solutions

EBK FINITE MATH AND APPLIED CALCULUS

Ch. 7.1 - Prob. 1E Ch. 7.1 - Prob. 2E Ch. 7.1 - Prob. 3E Ch. 7.1 - Prob. 4E Ch. 7.1 - Prob. 5E Ch. 7.1 - Prob. 6E Ch. 7.1 - Prob. 7E Ch. 7.1 - Prob. 8E Ch. 7.1 - Prob. 9E Ch. 7.1 - Prob. 10E

Ch. 7.1 - Prob. 11E Ch. 7.1 - Prob. 12E Ch. 7.1 - Prob. 13E Ch. 7.1 - Prob. 14E Ch. 7.1 - Prob. 15E Ch. 7.1 - Prob. 16E Ch. 7.1 - In Exercises 1720, draw a Venn diagram that...Ch. 7.1 - Prob. 18E Ch. 7.1 - In Exercises 1720, draw a Venn diagram that...Ch. 7.1 - Prob. 20E Ch. 7.1 - Prob. 21E Ch. 7.1 - Prob. 22E Ch. 7.1 - Prob. 23E Ch. 7.1 - Prob. 24E Ch. 7.1 - Prob. 25E Ch. 7.1 - Prob. 26E Ch. 7.1 - Prob. 27E Ch. 7.1 - Prob. 28E Ch. 7.1 - Prob. 29E Ch. 7.1 - Prob. 30E Ch. 7.1 - Prob. 31E Ch. 7.1 - Prob. 32E Ch. 7.1 - Prob. 33E Ch. 7.1 - Prob. 34E Ch. 7.1 - In Exercises 3542, A={small,medium,large},...Ch. 7.1 - In Exercises 3542, A={small,medium,large},...Ch. 7.1 - Prob. 37E Ch. 7.1 - In Exercises 3542, A={small,medium,large},...Ch. 7.1 - Prob. 39E Ch. 7.1 - In Exercises 3542, A={small,medium,large},...Ch. 7.1 - Prob. 41E Ch. 7.1 - In Exercises 3542, A={small,medium,large},...Ch. 7.1 - Prob. 43E Ch. 7.1 - Let A={H, T} be the set of outcomes when a coin is...Ch. 7.1 - Prob. 45E Ch. 7.1 - Let A={H, T} be the set of outcomes when a coin is...Ch. 7.1 - Prob. 47E Ch. 7.1 - Prob. 48E Ch. 7.1 - Prob. 49E Ch. 7.1 - Prob. 50E Ch. 7.1 - Prob. 51E Ch. 7.1 - Prob. 52E Ch. 7.1 - Prob. 53E Ch. 7.1 - Prob. 54E Ch. 7.1 - Prob. 55E Ch. 7.1 - Prob. 56E Ch. 7.1 - Prob. 57E Ch. 7.1 - Prob. 58E Ch. 7.1 - Prob. 59E Ch. 7.1 - Prob. 60E Ch. 7.1 - Databases A freelance computer consultant keeps a...Ch. 7.1 - Databases A freelance computer consultant keeps a...Ch. 7.1 - Databases A freelance computer consultant keeps a...Ch. 7.1 - Databases A freelance computer consultant keeps a...Ch. 7.1 - Databases A freelance computer consultant keeps a...Ch. 7.1 - Prob. 66E Ch. 7.1 - Databases A freelance computer consultant keeps a...Ch. 7.1 - Databases A freelance computer consultant keeps a...Ch. 7.1 - You sell iPads and jPads. Let I be the set of all...Ch. 7.1 - Prob. 72E Ch. 7.1 - You are searching online for techno music that is...Ch. 7.1 - Prob. 74E Ch. 7.1 - Prob. 75E Ch. 7.1 - Prob. 76E Ch. 7.1 - Prob. 77E Ch. 7.1 - Prob. 78E Ch. 7.1 - Prob. 79E Ch. 7.1 - Prob. 80E Ch. 7.1 - Prob. 81E Ch. 7.1 - Prob. 82E Ch. 7.1 - When this book was being written, the copy editor...Ch. 7.1 - Prob. 84E Ch. 7.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 7.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 7.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 7.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 7.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 7.2 - Let A={Drink,Johan,Frans,Sarie},...Ch. 7.2 - Verify that n(AB)=n(A)+n(B)n(AB) with A and B as...Ch. 7.2 - Verify that n(AC)=n(A)+n(C)n(AC) with A and C as...Ch. 7.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 7.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 7.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 7.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 7.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 7.2 - Let A={H,T},B={1,2,3,4,5,6}, and...Ch. 7.2 - If n(A)=43,n(B)=20, and n(AB)=3, find n(AB).Ch. 7.2 - If n(A)=60, n(B)=20, and n(AB)=1 find n(AB).Ch. 7.2 - If n(AB)=100andn(A)=n(B)=60, fi0nd n(AB).Ch. 7.2 - If n(A)=100,n(AB)=150, and n(AB)=40, find n(B).Ch. 7.2 - Prob. 19E Ch. 7.2 - Prob. 20E Ch. 7.2 - Prob. 21E Ch. 7.2 - Prob. 22E Ch. 7.2 - Prob. 23E Ch. 7.2 - Prob. 24E Ch. 7.2 - Prob. 25E Ch. 7.2 - With S,A,andB as above, verify that...Ch. 7.2 - Prob. 27E Ch. 7.2 - In Exercises 2730, use the given information to...Ch. 7.2 - In Exercises 2730, use the given information to...Ch. 7.2 - Prob. 30E Ch. 7.2 - Web Searches In November 2011 a search using the...Ch. 7.2 - Web Searches In November 2011 a search using the...Ch. 7.2 - Amusement On a particularly boring transatlantic...Ch. 7.2 - Restaurant Menus While scanning through the...Ch. 7.2 - Mobile Gamers Of a total of 132 million mobile...Ch. 7.2 - Mobile Gamers Of a total of 208 million mobile...Ch. 7.2 - Prob. 37E Ch. 7.2 - Prob. 38E Ch. 7.2 - Prob. 39E Ch. 7.2 - Prob. 40E Ch. 7.2 - Prob. 41E Ch. 7.2 - Prob. 42E Ch. 7.2 - Housing Starts Exercises 4348 are based on the...Ch. 7.2 - Housing Starts Exercises 4348 are based on the...Ch. 7.2 - Housing Starts Exercises 4348 are based on the...Ch. 7.2 - Housing Starts Exercises 4348 are based on the...Ch. 7.2 - Housing Starts Exercises 4348 are based on the...Ch. 7.2 - Housing Starts Exercises 4348 are based on the...Ch. 7.2 - Stocks Exercises 4954 are based on the following...Ch. 7.2 - Stocks Exercises 4954 are based on the following...Ch. 7.2 - Stocks Exercises 4954 are based on the following...Ch. 7.2 - Stocks Exercises 4954 are based on the following...Ch. 7.2 - Stocks Exercises 4954 are based on the following...Ch. 7.2 - Stocks Exercises 4954 are based on the following...Ch. 7.2 - Medicine In a study of Tibetan children,10 a total...Ch. 7.2 - Medicine In a study of Tibetan children,11 a total...Ch. 7.2 - Entertainment According to a survey of 100 people...Ch. 7.2 - Athletics Of the 4,700 students at Medium Suburban...Ch. 7.2 - Entertainment In a survey of 100 Enormous State...Ch. 7.2 - Entertainment Refer back to Exercise 59. You are...Ch. 7.2 - Prob. 61E Ch. 7.2 - Prob. 62E Ch. 7.2 - Why is the Cartesian product referred to as a...Ch. 7.2 - Refer back to your answer to Exercise 63. What set...Ch. 7.2 - Formulate an interesting application whose answer...Ch. 7.2 - Formulate an interesting application whose answer...Ch. 7.2 - When is n(AB)n(A)+n(B)?Ch. 7.2 - When is n(AB)=n(A)?Ch. 7.2 - When is n(AB)=n(A)?Ch. 7.2 - When is n(AB)=n(A)?Ch. 7.2 - Use a Venn diagram or some other method to obtain...Ch. 7.2 - Prob. 72E Ch. 7.3 - An experiment requires a choice among three...Ch. 7.3 - Prob. 2E Ch. 7.3 - An experiment requires a sequence of three steps....Ch. 7.3 - Prob. 4E Ch. 7.3 - Prob. 5E Ch. 7.3 - Prob. 6E Ch. 7.3 - Prob. 7E Ch. 7.3 - Prob. 8E Ch. 7.3 - Prob. 9E Ch. 7.3 - Prob. 10E Ch. 7.3 - Prob. 11E Ch. 7.3 - Prob. 12E Ch. 7.3 - How many different four-letter sequences can be...Ch. 7.3 - Prob. 14E Ch. 7.3 - Ice Cream When Baskin-Robbins was founded in 1945,...Ch. 7.3 - Prob. 16E Ch. 7.3 - Prob. 17E Ch. 7.3 - Ternary Codes A ternary digit is either 0, 1, or...Ch. 7.3 - Ternary Codes A ternary digit is either 0, 1, or...Ch. 7.3 - Binary Codes A binary digit, or bit, is either 0...Ch. 7.3 - Reward While selecting candy for students in his...Ch. 7.3 - Productivity Professor Oger must choose between an...Ch. 7.3 - Prob. 23E Ch. 7.3 - Radar Detectors Radar detectors are either powered...Ch. 7.3 - Multiple-Choice Tests Professor Easys final...Ch. 7.3 - Multiple-Choice Tests Professor Toughs final...Ch. 7.3 - Tests A test requires that you answer either Part...Ch. 7.3 - Tests A test requires that you answer first Part A...Ch. 7.3 - Stock Portfolios Your broker has suggested that...Ch. 7.3 - Prob. 30E Ch. 7.3 - Computer Codes A computer byte consists of eight...Ch. 7.3 - Prob. 32E Ch. 7.3 - Prob. 33E Ch. 7.3 - Prob. 34E Ch. 7.3 - Prob. 35E Ch. 7.3 - Prob. 36E Ch. 7.3 - Tournaments How many ways are there of filling in...Ch. 7.3 - Prob. 38E Ch. 7.3 - Prob. 39E Ch. 7.3 - Prob. 40E Ch. 7.3 - Prob. 41E Ch. 7.3 - Prob. 42E Ch. 7.3 - DNA Chains: Life in Nature DNA (deoxyribonucleic...Ch. 7.3 - Prob. 44E Ch. 7.3 - Prob. 45E Ch. 7.3 - Telephone Numbers In the past, a local telephone...Ch. 7.3 - Romeo and Juliet Here is a list of the main...Ch. 7.3 - Prob. 48E Ch. 7.3 - Prob. 49E Ch. 7.3 - Prob. 50E Ch. 7.3 - Mazes a. How many four-letter sequences are...Ch. 7.3 - Prob. 52E Ch. 7.3 - Prob. 53E Ch. 7.3 - Prob. 54E Ch. 7.3 - Prob. 55E Ch. 7.3 - Combination Locks Dripping wet after your shower,...Ch. 7.3 - Prob. 57E Ch. 7.3 - Prob. 58E Ch. 7.3 - Prob. 59E Ch. 7.3 - Prob. 60E Ch. 7.3 - Prob. 61E Ch. 7.3 - Programming in Java Script (Some programming...Ch. 7.3 - Prob. 63E Ch. 7.3 - Prob. 64E Ch. 7.3 - Prob. 65E Ch. 7.3 - Numbers How many odd numbers between 10 and 99...Ch. 7.3 - Prob. 67E Ch. 7.3 - Prob. 68E Ch. 7.3 - Prob. 69E Ch. 7.3 - Prob. 70E Ch. 7.3 - Prob. 71E Ch. 7.3 - Find an interesting application that requires a...Ch. 7.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 7.4 - Prob. 2E Ch. 7.4 - Prob. 3E Ch. 7.4 - In Exercises 116, evaluate the number. [HINT: See...Ch. 7.4 - Prob. 5E Ch. 7.4 - Prob. 6E Ch. 7.4 - Prob. 7E Ch. 7.4 - Prob. 8E Ch. 7.4 - Prob. 9E Ch. 7.4 - Prob. 10E Ch. 7.4 - Prob. 11E Ch. 7.4 - Prob. 12E Ch. 7.4 - Prob. 13E Ch. 7.4 - Prob. 14E Ch. 7.4 - Prob. 15E Ch. 7.4 - Prob. 16E Ch. 7.4 - How many ordered lists are there of four items...Ch. 7.4 - Prob. 18E Ch. 7.4 - Prob. 19E Ch. 7.4 - Prob. 20E Ch. 7.4 - Prob. 21E Ch. 7.4 - Prob. 22E Ch. 7.4 - Prob. 23E Ch. 7.4 - Prob. 24E Ch. 7.4 - Prob. 25E Ch. 7.4 - Prob. 26E Ch. 7.4 - How many six-letter sequences are possible that...Ch. 7.4 - Prob. 28E Ch. 7.4 - Prob. 29E Ch. 7.4 - Prob. 30E Ch. 7.4 - Prob. 31E Ch. 7.4 - Prob. 32E Ch. 7.4 - Prob. 33E Ch. 7.4 - Prob. 34E Ch. 7.4 - Prob. 35E Ch. 7.4 - Marbles For Exercises 2942, a bag contains three...Ch. 7.4 - Prob. 37E Ch. 7.4 - Prob. 38E Ch. 7.4 - Prob. 39E Ch. 7.4 - Prob. 40E Ch. 7.4 - Prob. 41E Ch. 7.4 - Prob. 42E Ch. 7.4 - Prob. 43E Ch. 7.4 - Prob. 44E Ch. 7.4 - Prob. 45E Ch. 7.4 - Prob. 46E Ch. 7.4 - Prob. 47E Ch. 7.4 - In Exercises 4752, calculate how many different...Ch. 7.4 - Prob. 49E Ch. 7.4 - Prob. 50E Ch. 7.4 - Prob. 51E Ch. 7.4 - Prob. 52E Ch. 7.4 - Prob. 53E Ch. 7.4 - Prob. 54E Ch. 7.4 - Poker Hands A poker hand consists of 5 cards from...Ch. 7.4 - Prob. 56E Ch. 7.4 - Prob. 57E Ch. 7.4 - Prob. 58E Ch. 7.4 - Prob. 59E Ch. 7.4 - Prob. 60E Ch. 7.4 - Dogs of the Dow The Dogs of the Dow are the stocks...Ch. 7.4 - Dogs of the Dow The Dogs of the Dow are the stocks...Ch. 7.4 - Day Trading Day traders typically buy and sell...Ch. 7.4 - Day Trading Day traders typically buy and sell...Ch. 7.4 - Elimination Tournaments In an elimination...Ch. 7.4 - Elimination Tournaments In an elimination...Ch. 7.4 - Prob. 67E Ch. 7.4 - Elimination Tournaments In an elimination...Ch. 7.4 - Prob. 69E Ch. 7.4 - Prob. 70E Ch. 7.4 - Prob. 71E Ch. 7.4 - Prob. 72E Ch. 7.4 - Prob. 73E Ch. 7.4 - Prob. 74E Ch. 7.4 - Prob. 75E Ch. 7.4 - Prob. 76E Ch. 7.4 - Prob. 77E Ch. 7.4 - Prob. 78E Ch. 7.4 - Prob. 79E Ch. 7.4 - Prob. 80E Ch. 7.4 - Prob. 81E Ch. 7.4 - Prob. 82E Ch. 7.4 - Prob. 83E Ch. 7.4 - Prob. 84E Ch. 7.4 - Prob. 85E Ch. 7.4 - Prob. 86E Ch. 7.4 - Prob. 87E Ch. 7.4 - Complete the following: If a counting procedure...Ch. 7.4 - Prob. 89E Ch. 7.4 - Prob. 90E Ch. 7 - Prob. 1RE Ch. 7 - Prob. 2RE Ch. 7 - Prob. 3RE Ch. 7 - Prob. 4RE Ch. 7 - Prob. 5RE Ch. 7 - Prob. 6RE Ch. 7 - Prob. 7RE Ch. 7 - Prob. 8RE Ch. 7 - Prob. 9RE Ch. 7 - Prob. 10RE Ch. 7 - Prob. 11RE Ch. 7 - Prob. 12RE Ch. 7 - Prob. 13RE Ch. 7 - Prob. 14RE Ch. 7 - Prob. 15RE Ch. 7 - Prob. 16RE Ch. 7 - Prob. 17RE Ch. 7 - Prob. 18RE Ch. 7 - In Exercises 1924, consider a bag containing four...Ch. 7 - Prob. 20RE Ch. 7 - Prob. 21RE Ch. 7 - Prob. 22RE Ch. 7 - Prob. 23RE Ch. 7 - Prob. 24RE Ch. 7 - Prob. 25RE Ch. 7 - Inventories OHaganBooks.com currently operates...Ch. 7 - Prob. 27RE Ch. 7 - Inventories OHaganBooks.com currently operates...Ch. 7 - Inventories OHaganBooks.com currently operates...Ch. 7 - Prob. 30RE Ch. 7 - Prob. 31RE Ch. 7 - Prob. 32RE Ch. 7 - Prob. 33RE Ch. 7 - Prob. 34RE Ch. 7 - Prob. 35RE Ch. 7 - Prob. 36RE Ch. 7 - Prob. 37RE Ch. 7 - Prob. 38RE Ch. 7 - Online IDs As the customer base at OHaganBooks.com...Ch. 7 - Online IDs As the customer base at OHaganBooks.com...Ch. 7 - Prob. 41RE Ch. 7 - Prob. 42RE Ch. 7 - Prob. 43RE

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Solution Summary: The author calculates the number of collections of stocks where you purchase a collection of 3 tech stocks and 2 non-tech stocks from the table.

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Chapter 7 Solutions