Business Statistics: A First Course (8th Edition)
8th Edition
ISBN: 9780135177785
Author: David M. Levine, Kathryn A. Szabat, David F. Stephan
Publisher: PEARSON
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Create necessary columns of data necessary to solve the problem
a. Determine the size of the public works project using the table below.
b. Cite the principle used in determining the output of public goods.
Highway Project
Total Cost
Total Benefit
No project
Widen existing
4
6.
New 2-lane
9.
12
New 4-lane
15
19
New 6-lane
22
20
A survey about social media reported that 79% of B2B marketers (marketers that focus primarily on attracting businesses) plan to increase their use of social media, as compared to 54% of B2C marketers
(marketers that primarily target consumers). The survey was based on 1,333 B2B marketers and 1,669 B2C marketers. The accompanying table summarizes the results. Complete parts (a) through (d) below.
A Click the icon to view the contingency table about social media use and marketers.
Contingency table
a. What is the probability that a randomly selected respondent plans to increase use of social media?
(Round to three decimal places as needed.)
Increase Use of
Social Media?
Business Focus
B2B
B2C
Total
b. What is the probability that a randomly selected respondent is a B2C marketer?
Yes
1,049
901
1,950
(Round to three decimal places as needed.)
No
284
768
1,052
Total
1,333
1,669
3,002
c. What is the probability that a randomly selected respondent plans to increase use of social media or is…
A survey about social media reported that 82% of B2B marketers (marketers that focus primarily on
attracting businesses) plan to increase their use of social media, as compared to 55% of B2C marketers
(marketers that primarily target consumers). The survey was based on 1,286 B2B marketers and 1,731
B2C marketers. The accompanying table summarizes the results. Complete parts (a) through (d) below.
A. What is the probability that a randomly selected respondent is a B2C marketer?
B. What is the probability that a randomly selected respondent plans to increase use of social media
or is a B2C marketer?
C. Explain the difference in the results in (a) and (b)
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