Basic Business Statistics
14th Edition
ISBN: 9780134684840
Author: BERENSON, Mark L., Levine, David M., Szabat, Kathryn A.
Publisher: Pearson,
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 8, Problem 51PS
When should you use the t distribution to develop the confidence
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Please provide the solution for the attached image in detailed.
20 km, because
GISS
Worksheet 10
Jesse runs a small business selling and delivering mealie meal to the spaza shops.
He charges a fixed rate of R80, 00 for delivery and then R15, 50 for each packet of
mealle meal he delivers. The table below helps him to calculate what to charge
his customers.
10
20
30
40
50
Packets of mealie
meal (m)
Total costs in Rands
80
235
390
545
700
855
(c)
10.1.
Define the following terms:
10.1.1. Independent Variables
10.1.2. Dependent Variables
10.2.
10.3.
10.4.
10.5.
Determine the independent and dependent variables.
Are the variables in this scenario discrete or continuous values? Explain
What shape do you expect the graph to be? Why?
Draw a graph on the graph provided to represent the information in the
table above.
TOTAL COST OF PACKETS OF MEALIE MEAL
900
800
700
600
COST (R)
500
400
300
200
100
0
10
20
30
40
60
NUMBER OF PACKETS OF MEALIE MEAL
Let X be a random variable with support SX = {−3, 0.5, 3, −2.5, 3.5}. Part ofits probability mass function (PMF) is given bypX(−3) = 0.15, pX(−2.5) = 0.3, pX(3) = 0.2, pX(3.5) = 0.15.(a) Find pX(0.5).(b) Find the cumulative distribution function (CDF), FX(x), of X.1(c) Sketch the graph of FX(x).
Chapter 8 Solutions
Basic Business Statistics
Ch. 8 - If X=85, =8,andn=64, construct a 95 confidence...Ch. 8 - If X=125,=24,andn=36, construct a 99 confidence...Ch. 8 - Why is it not possible in Example 8.1 on page 280...Ch. 8 - Is it true in Example 8.1 on page 280 that you do...Ch. 8 - A market researcher selects a simple random sample...Ch. 8 - Suppose that you are going to collect a set of...Ch. 8 - Consider the confidence interval estimate...Ch. 8 - You are working as an assistant to the dean of...Ch. 8 - A bottled water distributor wants to estimate the...Ch. 8 - The operations manager at a light emitting diode...
Ch. 8 - If X=75,S=24,andn=36, and assuming that the...Ch. 8 - Determine the critical value of t in each of the...Ch. 8 - Assuming that the populations is normally...Ch. 8 - Assuming that the population is normally...Ch. 8 - A marketing researcher wants to estimate the mean...Ch. 8 - A survey of nonprofit organizations showed that...Ch. 8 - The U.S. Department of Transportation requires...Ch. 8 - The file FastFood contains the amount that a...Ch. 8 - The file AirportRating contains the rating of...Ch. 8 - The annual NFL Super Bowl is the most widely...Ch. 8 - Is there a difference in the yields of different...Ch. 8 - One of the major measures of the quality of...Ch. 8 - A manufacturing company produces electric...Ch. 8 - The file MobileCommerce contains mobile commerce...Ch. 8 - One operation of a mill is cut pieces of steel...Ch. 8 - Ifn=200andX=50, Construct a 95 confidence interval...Ch. 8 - ifn=400andX=25, Construct a 99 confidence interval...Ch. 8 - A cellphone provider has the business objective of...Ch. 8 - In a survey of 1,003 adults concerning complaints...Ch. 8 - What do you value most when shopping in a retail...Ch. 8 - In a survey of 823 human resource professionals...Ch. 8 - A Pew Research Center survey of 4,787 adults found...Ch. 8 - What business, economic, policy and environmental...Ch. 8 - If you want to be 95 confident of estimating the...Ch. 8 - If you want to be 99 confident of estimating of...Ch. 8 - If you want to be 99 confident of estimating the...Ch. 8 - If you want to be 95 confident of estimating the...Ch. 8 - A survey is planned to determine the mean annual...Ch. 8 - If the manager of a bottled water distributor...Ch. 8 - If a light bulb manufacturing company wants to...Ch. 8 - If the inspection division of a county weights and...Ch. 8 - An advertising media analyst wants to estimate the...Ch. 8 - An advertising media analyst wants to estimate the...Ch. 8 - A growing niche in the restaurant business is...Ch. 8 - What does brand loyalty mean to consumers?...Ch. 8 - A Federal Reserve Bank of Atlanta report looks at...Ch. 8 - In a study of 443 nonprofits nationwide, 130...Ch. 8 - Cybersecurity is a critical business issue that...Ch. 8 - Personal data is the new currency of the digital...Ch. 8 - Why can you never really have 100 confidence of...Ch. 8 - When should you use the t distribution to develop...Ch. 8 - Why is it true that for a given sample size, n an...Ch. 8 - Why is the sample size needed to determine the...Ch. 8 - GlobalWablndex study noted the percentage of...Ch. 8 - How do smartphone owners use their smartphones...Ch. 8 - A market researcher for a consumer electronics...Ch. 8 - An information technology (IT) provider of cloud...Ch. 8 - The human resource (HR) director of a large...Ch. 8 - A national association devoted to HR and workplace...Ch. 8 - The financial impact of IT system downtime is a...Ch. 8 - The branch manager of an outlet (Store 1) of a...Ch. 8 - Scarlett and Heather, the owners of an upscale...Ch. 8 - The manufacturer of Ice Melt claims that its...Ch. 8 - Claims fraud (illegitimate claims) and buildup...Ch. 8 - A quality characteristic of interest for a...Ch. 8 - Call centers today play an important role in...Ch. 8 - The manufacturer of Boston and Vermont asphalt...Ch. 8 - The manufacturer of Boston and Vermont asphalt...Ch. 8 - Referring to the results in Problem 8.66...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- A well-known company predominantly makes flat pack furniture for students. Variability with the automated machinery means the wood components are cut with a standard deviation in length of 0.45 mm. After they are cut the components are measured. If their length is more than 1.2 mm from the required length, the components are rejected. a) Calculate the percentage of components that get rejected. b) In a manufacturing run of 1000 units, how many are expected to be rejected? c) The company wishes to install more accurate equipment in order to reduce the rejection rate by one-half, using the same ±1.2mm rejection criterion. Calculate the maximum acceptable standard deviation of the new process.arrow_forward5. Let X and Y be independent random variables and let the superscripts denote symmetrization (recall Sect. 3.6). Show that (X + Y) X+ys.arrow_forward8. Suppose that the moments of the random variable X are constant, that is, suppose that EX" =c for all n ≥ 1, for some constant c. Find the distribution of X.arrow_forward
- 9. The concentration function of a random variable X is defined as Qx(h) = sup P(x ≤ X ≤x+h), h>0. Show that, if X and Y are independent random variables, then Qx+y (h) min{Qx(h). Qr (h)).arrow_forward10. Prove that, if (t)=1+0(12) as asf->> O is a characteristic function, then p = 1.arrow_forward9. The concentration function of a random variable X is defined as Qx(h) sup P(x ≤x≤x+h), h>0. (b) Is it true that Qx(ah) =aQx (h)?arrow_forward
- 3. Let X1, X2,..., X, be independent, Exp(1)-distributed random variables, and set V₁₁ = max Xk and W₁ = X₁+x+x+ Isk≤narrow_forward7. Consider the function (t)=(1+|t|)e, ER. (a) Prove that is a characteristic function. (b) Prove that the corresponding distribution is absolutely continuous. (c) Prove, departing from itself, that the distribution has finite mean and variance. (d) Prove, without computation, that the mean equals 0. (e) Compute the density.arrow_forward1. Show, by using characteristic, or moment generating functions, that if fx(x) = ½ex, -∞0 < x < ∞, then XY₁ - Y2, where Y₁ and Y2 are independent, exponentially distributed random variables.arrow_forward
- 1. Show, by using characteristic, or moment generating functions, that if 1 fx(x): x) = ½exarrow_forward1990) 02-02 50% mesob berceus +7 What's the probability of getting more than 1 head on 10 flips of a fair coin?arrow_forward9. The concentration function of a random variable X is defined as Qx(h) sup P(x≤x≤x+h), h>0. = x (a) Show that Qx+b(h) = Qx(h).arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License