Introductory Statistics
1st Edition
ISBN: 9781938168208
Author: Barbara Illowsky, Susan Dean
Publisher: OpenStax College
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 8, Problem 99H
A camp director is interested in the
a. i.
ii.
iii. n=______
b. Define the random variables X and
c. Which distribution should you use for this problem? Explain your choice.
d. Construct a 90% confidence Interval for the population mean number of letters campers send home.
i. State the confidence Interval.
ii. Sketch the graph.
iii. Calculate the error bound.
e. What will happen to the error bound and confidence interval if 500 campers are surveyed? Why?
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
1 No.
2
3
4
Binomial Prob.
X
n
P
Answer
5
6 4
7
8
9
10
12345678
8
3
4
2
2552
10
0.7
0.233
0.3
0.132
7
0.6
0.290
20
0.02
0.053
150
1000
0.15
0.035
8
7
10
0.7
0.383
11
9
3
5
0.3
0.132
12
10
4
7
0.6
0.290
13
Poisson Probability
14
X
lambda
Answer
18 4
19
20
21
22
23 9
15
16
17 3
1234567829
3
2
0.180
2
1.5
0.251
12
10
0.095
5
3
0.101
7
4
0.060
3
2
0.180
2
1.5
0.251
24 10
12
10
0.095
step by step on Microssoft on how to put this in excel and the answers please
Find binomial probability if:
x = 8, n = 10, p = 0.7
x= 3, n=5, p = 0.3
x = 4, n=7, p = 0.6
Quality Control: A factory produces light bulbs with a 2% defect rate. If a random sample of 20 bulbs is tested, what is the probability that exactly 2 bulbs are defective? (hint: p=2% or 0.02; x =2, n=20; use the same logic for the following problems)
Marketing Campaign: A marketing company sends out 1,000 promotional emails. The probability of any email being opened is 0.15. What is the probability that exactly 150 emails will be opened? (hint: total emails or n=1000, x =150)
Customer Satisfaction: A survey shows that 70% of customers are satisfied with a new product. Out of 10 randomly selected customers, what is the probability that at least 8 are satisfied? (hint: One of the keyword in this question is “at least 8”, it is not “exactly 8”, the correct formula for this should be = 1- (binom.dist(7, 10, 0.7,…
Kate, Luke, Mary and Nancy are sharing a cake. The cake had previously been divided into four slices (s1, s2, s3 and s4). What is an example of fair division of the cake
S1
S2
S3
S4
Kate
$4.00
$6.00
$6.00
$4.00
Luke
$5.30
$5.00
$5.25
$5.45
Mary
$4.25
$4.50
$3.50
$3.75
Nancy
$6.00
$4.00
$4.00
$6.00
Chapter 8 Solutions
Introductory Statistics
Ch. 8 - Suppose we have data from a sample. The sample...Ch. 8 - Suppose average pizza delivery times are normally...Ch. 8 - Table 8.2 shows a different random sampling of 20...Ch. 8 - Refer back to the pizza-delivery Try It exercise....Ch. 8 - Refer back to the pizza-deliver Try It exercise....Ch. 8 - Suppose we know that a confidence interval is...Ch. 8 - The population standard deviation for the height...Ch. 8 - You do a study of hypnotherapy to determine how...Ch. 8 - A random sample of statistics students were asked...Ch. 8 - Suppose 250 randomly selected people are surveyed...
Ch. 8 - A student polls his school to see If students In...Ch. 8 - Out of a random sample of 65 freshmen at State...Ch. 8 - The Berkman Center Study referenced in Example...Ch. 8 - Suppose an Internet marketing company wants to...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use (he following information to answer the next...Ch. 8 - Use (he following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer (he next...Ch. 8 - Use the following information o answer (he ne.t...Ch. 8 - Use the following information o answer (he ne.t...Ch. 8 - Use the following information o answer (he ne.t...Ch. 8 - Use the following information o answer the next...Ch. 8 - Use the following information answer the next six...Ch. 8 - Use the following information answer the next six...Ch. 8 - Use the following information answer the next six...Ch. 8 - Use the following information answer the next six...Ch. 8 - Use the following information answer the next six...Ch. 8 - Use the following information answer the next six...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use (he following information o answer the next...Ch. 8 - Use the following information o answer the next...Ch. 8 - Use the following information o answer the next...Ch. 8 - Use the following information o answer the next...Ch. 8 - Use the following information o answer the next...Ch. 8 - Use the following information o answer the next...Ch. 8 - Use the following information o answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Use the following information to answer the next...Ch. 8 - Among various ethnic groups, the standard...Ch. 8 - Announcements for 8.1 upcoming engineering...Ch. 8 - Suppose that an accounting firm does a study to...Ch. 8 - A sample of 16 small bags of the same brand of...Ch. 8 - A camp director is interested in the mean number...Ch. 8 - What Is meant by the tetm 90% confident when...Ch. 8 - The Federal Election Commission collects...Ch. 8 - The American Community Survey (ACS), part of the...Ch. 8 - The average height of young adult males has a...Ch. 8 - In six packages of The Flintstones Real Fruit...Ch. 8 - A random survey of enrollment at 35 community...Ch. 8 - Suppose that a committee is studying whether or...Ch. 8 - A pharmaceutical company makes tranquilizers. It...Ch. 8 - Suppose that 14 children, who were learning to...Ch. 8 - The Federal Election Commission (FEC) collects...Ch. 8 - Forbes magazine published data on the best small...Ch. 8 - Unoccupied seats on flights cause airlines to lose...Ch. 8 - In a recent sample of 84 used car sales costs, the...Ch. 8 - Six different national brands of chocolate chip...Ch. 8 - A survey of the mean number of cents off that...Ch. 8 - Use the following information o ansier the next...Ch. 8 - Use the following information o ansier the next...Ch. 8 - Insurance companies are interested In knowing the...Ch. 8 - Suppose that the insurance companies did do a...Ch. 8 - According to a recent survey of 1,200 people. 61%...Ch. 8 - An article regarding interracial dating and...Ch. 8 - Refer to the information In Exercise 8.120. a....Ch. 8 - Stanford University conducted a study of whether...Ch. 8 - A telephone poll of 1,000 adult Americans was...Ch. 8 - Refer to Exercise 8.123. Another question in the...Ch. 8 - Use the following informariton to answer the next...Ch. 8 - Use the following informariton to answer the next...Ch. 8 - Use the following informariton to answer the next...Ch. 8 - Use the following information to answer the next v...Ch. 8 - Use the following information to answer the next v...Ch. 8 - On May 23, 2013, Gallup reported that of the 1,005...Ch. 8 - A national survey of 1000 adults was conducted on...Ch. 8 - Public Policy Polling recently conducted a survey...Ch. 8 - You plan to conduct a survey on your college...Ch. 8 - In a recent Zogby International Poll, nine of .18...
Additional Math Textbook Solutions
Find more solutions based on key concepts
Shell method Let R be the region bounded by the following curves. Use the shell method to find the volume of th...
Calculus: Early Transcendentals (2nd Edition)
Continuous Uniform Distribution. In Exercises 5–8, refer to the continuous uniform distribution depicted in Fig...
Elementary Statistics (13th Edition)
TRY IT YOURSELF 1
Find the mean of the points scored by the 51 winning teams listed on page 39.
Elementary Statistics: Picturing the World (7th Edition)
Exercises 5–10 refer to the function
graphed in the accompanying figure.
7.
Is f defined at x =2? (Look at th...
University Calculus: Early Transcendentals (4th Edition)
Sisters and Brothers The scatterplot shows the numbers of brothers and sisters for a large number of students. ...
Introductory Statistics
CHECK POINT I Let p and q represent the following statements: p : 3 + 5 = 8 q : 2 × 7 = 20. Determine the truth...
Thinking Mathematically (6th Edition)
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
- Faye cuts the sandwich in two fair shares to her. What is the first half s1arrow_forwardQuestion 2. An American option on a stock has payoff given by F = f(St) when it is exercised at time t. We know that the function f is convex. A person claims that because of convexity, it is optimal to exercise at expiration T. Do you agree with them?arrow_forwardQuestion 4. We consider a CRR model with So == 5 and up and down factors u = 1.03 and d = 0.96. We consider the interest rate r = 4% (over one period). Is this a suitable CRR model? (Explain your answer.)arrow_forward
- Question 3. We want to price a put option with strike price K and expiration T. Two financial advisors estimate the parameters with two different statistical methods: they obtain the same return rate μ, the same volatility σ, but the first advisor has interest r₁ and the second advisor has interest rate r2 (r1>r2). They both use a CRR model with the same number of periods to price the option. Which advisor will get the larger price? (Explain your answer.)arrow_forwardQuestion 5. We consider a put option with strike price K and expiration T. This option is priced using a 1-period CRR model. We consider r > 0, and σ > 0 very large. What is the approximate price of the option? In other words, what is the limit of the price of the option as σ∞. (Briefly justify your answer.)arrow_forwardQuestion 6. You collect daily data for the stock of a company Z over the past 4 months (i.e. 80 days) and calculate the log-returns (yk)/(-1. You want to build a CRR model for the evolution of the stock. The expected value and standard deviation of the log-returns are y = 0.06 and Sy 0.1. The money market interest rate is r = 0.04. Determine the risk-neutral probability of the model.arrow_forward
- Several markets (Japan, Switzerland) introduced negative interest rates on their money market. In this problem, we will consider an annual interest rate r < 0. We consider a stock modeled by an N-period CRR model where each period is 1 year (At = 1) and the up and down factors are u and d. (a) We consider an American put option with strike price K and expiration T. Prove that if <0, the optimal strategy is to wait until expiration T to exercise.arrow_forwardWe consider an N-period CRR model where each period is 1 year (At = 1), the up factor is u = 0.1, the down factor is d = e−0.3 and r = 0. We remind you that in the CRR model, the stock price at time tn is modeled (under P) by Sta = So exp (μtn + σ√AtZn), where (Zn) is a simple symmetric random walk. (a) Find the parameters μ and σ for the CRR model described above. (b) Find P Ste So 55/50 € > 1). StN (c) Find lim P 804-N (d) Determine q. (You can use e- 1 x.) Ste (e) Find Q So (f) Find lim Q 004-N StN Soarrow_forwardIn this problem, we consider a 3-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year. The interest rate is r = 0%. 16 22 28 12 16 12 8 4 2 time Figure 1: Stock evolution for Problem 1. (a) A colleague notices that in the model above, a movement up-down leads to the same value as a movement down-up. He concludes that the model is a CRR model. Is your colleague correct? (Explain your answer.) (b) We consider a European put with strike price K = 10 and expiration T = 3 years. Find the price of this option at time 0. Provide the replicating portfolio for the first period. (c) In addition to the call above, we also consider a European call with strike price K = 10 and expiration T = 3 years. Which one has the highest price? (It is not necessary to provide the price of the call.) (d) We now assume a yearly interest rate r = 25%. We consider a Bermudan put option with strike price K = 10. It works like a standard put, but you can exercise it…arrow_forward
- In this problem, we consider a 2-period stock market model with evolution given in Fig. 1 below. Each period corresponds to one year (At = 1). The yearly interest rate is r = 1/3 = 33%. This model is a CRR model. 25 15 9 10 6 4 time Figure 1: Stock evolution for Problem 1. (a) Find the values of up and down factors u and d, and the risk-neutral probability q. (b) We consider a European put with strike price K the price of this option at time 0. == 16 and expiration T = 2 years. Find (c) Provide the number of shares of stock that the replicating portfolio contains at each pos- sible position. (d) You find this option available on the market for $2. What do you do? (Short answer.) (e) We consider an American put with strike price K = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe the optimal exercising strategy. (f) We consider an American call with strike price K ○ = 16 and expiration T = 2 years. Find the price of this option at time 0 and describe…arrow_forward2.2, 13.2-13.3) question: 5 point(s) possible ubmit test The accompanying table contains the data for the amounts (in oz) in cans of a certain soda. The cans are labeled to indicate that the contents are 20 oz of soda. Use the sign test and 0.05 significance level to test the claim that cans of this soda are filled so that the median amount is 20 oz. If the median is not 20 oz, are consumers being cheated? Click the icon to view the data. What are the null and alternative hypotheses? OA. Ho: Medi More Info H₁: Medi OC. Ho: Medi H₁: Medi Volume (in ounces) 20.3 20.1 20.4 Find the test stat 20.1 20.5 20.1 20.1 19.9 20.1 Test statistic = 20.2 20.3 20.3 20.1 20.4 20.5 Find the P-value 19.7 20.2 20.4 20.1 20.2 20.2 P-value= (R 19.9 20.1 20.5 20.4 20.1 20.4 Determine the p 20.1 20.3 20.4 20.2 20.3 20.4 Since the P-valu 19.9 20.2 19.9 Print Done 20 oz 20 oz 20 oz 20 oz ce that the consumers are being cheated.arrow_forwardT Teenage obesity (O), and weekly fast-food meals (F), among some selected Mississippi teenagers are: Name Obesity (lbs) # of Fast-foods per week Josh 185 10 Karl 172 8 Terry 168 9 Kamie Andy 204 154 12 6 (a) Compute the variance of Obesity, s²o, and the variance of fast-food meals, s², of this data. [Must show full work]. (b) Compute the Correlation Coefficient between O and F. [Must show full work]. (c) Find the Coefficient of Determination between O and F. [Must show full work]. (d) Obtain the Regression equation of this data. [Must show full work]. (e) Interpret your answers in (b), (c), and (d). (Full explanations required). Edit View Insert Format Tools Tablearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal Littell
Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGAL
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Algebra: Structure And Method, Book 1
Algebra
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:McDougal Littell
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
The Shape of Data: Distributions: Crash Course Statistics #7; Author: CrashCourse;https://www.youtube.com/watch?v=bPFNxD3Yg6U;License: Standard YouTube License, CC-BY
Shape, Center, and Spread - Module 20.2 (Part 1); Author: Mrmathblog;https://www.youtube.com/watch?v=COaid7O_Gag;License: Standard YouTube License, CC-BY
Shape, Center and Spread; Author: Emily Murdock;https://www.youtube.com/watch?v=_YyW0DSCzpM;License: Standard Youtube License