STATISTICAL TECHNIQUES IN BUS.+ECON.
18th Edition
ISBN: 9781260239478
Author: Lind
Publisher: RENT MCG
expand_more
expand_more
format_list_bulleted
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
i’m sooo lost on how to do this question.
A meat-processing company in Alberta produces and markets a package of eight small sausage sandwiches. The product is nationally distributed, and the company is interested in knowing the average retail price charged for this item in stores across the country. The company cannot justify a national census to generate this information. Based on the company information system’s list of all retailers that carry the product, a company analyst contacts 36 of these retailers and ascertains the selling prices for the product. Use the following price data and a population standard deviation of 0.113 to determine a point estimate for the national retail price of the product. Construct a 98% confidence interval to estimate this price.
$2.23
$2.11
$2.12
$2.20
$2.17
$2.10
2.16
2.31
1.98
2.17
2.14
1.82
2.12
2.07
2.17
2.30
2.29
2.19
2.01
2.24
2.18
2.18
2.32
2.02
1.99
1.87
2.09
2.22
2.15
2.19
2.23
2.10
2.08
2.05
2.16
2.26
According to the Center for Disease Control (CDC), about 15.5% adults (18 years or older) in the U.S. in 2016were current smokers. Half of the U.S. adults in 2016 were women and 13.5% of adult women were current smokers. Please answer the following questions based on the information given in this problem.
a. If a 40 years old U.S. resident happens to be a non-smoker, what is the probability that he is a man? Please show the necessary steps.
b. What is the probability that a random U.S adult will be both a smoker and a man? Please show the necessary work.
c. What is the probability that a random U.S adult will be a non-smoker or a man? Please show the necessary work.
d. What is the probability that a random U.S adult will be neither a smoker nor a man? Show the necessary work.
e. According t the data provided in this problem, are being a smoker and being a women independentevents for a U.S adult? Please show how you arrived at your answer.
Chapter 1 Solutions
STATISTICAL TECHNIQUES IN BUS.+ECON.
Ch. 1 - Prob. 1SRCh. 1 - (a) The mean age of people who listen to talk...Ch. 1 - What is the level of measurement for each of the...Ch. 1 - Slate is a daily magazine on the Web. Its business...Ch. 1 - Prob. 3ECh. 1 - For each of the following, determine whether the...Ch. 1 - Explain the difference between qualitative and...Ch. 1 - Explain the difference between a sample and a...Ch. 1 - Prob. 7CECh. 1 - Prob. 8CE
Ch. 1 - Exits along Interstate highways were formerly...Ch. 1 - A poll solicits a large number of college...Ch. 1 - Best Buy sells Fitbit wearable technology products...Ch. 1 - Using the concepts of sample and population,...Ch. 1 - Place these variables in the following...Ch. 1 - Prob. 14CECh. 1 - Prob. 15CECh. 1 - AVX Home Entertainment, Inc., recently began a...Ch. 1 - Prob. 17CECh. 1 - The following chart depicts the average amounts...Ch. 1 - Prob. 19CECh. 1 - Refer to the North Valley Real Estate data, which...Ch. 1 - Prob. 21DACh. 1 - Refer to the Lincolnville School District bus...
Knowledge Booster
Similar questions
- Mr. Juan Rafael, the manager of JJ Computer Tech is conducting a study on the number of customers who pay by personal check, by credit card and by debit card. During the course of five days, he records the following number of purchases made by each method. What should be the conclusion as a result of the analysis? A. The number of customers who pay by personal check, by credit card, and by debit card at JJ Computer Tech are the same.B. At least two of the methods of payment in purchasing at JJ Computer Tech are significantly different.C. There is a significant difference in the number of customers who pay by personal check, by credit card, and by debit card at JJ Computer Tech.D. There is no significant difference in the number of customers who pay by personal check, by credit card, and by debit card at JJ Computer Techarrow_forwardConsider that Roane county, which calculated that the average firm size (in terms of number of employees) is 150 with a median size of 50, while Anderson county calculated an average and median size of 230 and 255 respectively. Officials from both counties are asking their state legislatures for additional funds to accommodate their growing business size. Do you support their requests, why or why not? Also, are there any additional statistics you might ask for and why?arrow_forwardPlease answer and assist on questions J, K, L Thank you.arrow_forward
- Two nurses at Northwood Hospital’s Cardiac Care Unit are assigned to care for eight patients. Nurses are responsible for administering medication, taking vital signs, and responding to frequent calls for assistance that can come either from the patient, or the equipment monitoring the patient’s current condition. On an average, each patientrequires attention three times each hour. Nurses average 6 minutes per patient visit.a. What is the average utilization of the nursing staff?b. On an average, how many patients are waiting for a nurse?c. By how much would adding a third nurse reduce the patient waiting time?arrow_forwardThe U.S National Center for Education Statistics publishes information about schoolenrollment in Digest of Education Statistics. According to the document, 85.8% of students attend public school,22.3% attend college and 17.1% attend public college. What percentage of students attend either public schoolor college?arrow_forwardpresent the following information in pie char,bar chart, and a table. In 2015, Interstate telephone company bought and installed 100,000 relays. It used these for long-range testing programs that assessed failure rates. It purchased 40000 Nestor 221s; 20,000 VanCourt 1200s; 20,000 Macro R40s; 10,000 Camrose Series 8s; and 10,000 Hardy SP6s.arrow_forward
- 2. One of the country's most pervasive societal issues appears to be violence against women (VAW). According to the Philippine Statistics Authority's 2017 National Demographic and Health Survey, one in every four Filipino women between the ages of 15 and 49 has been subjected to physical, emotional, or sexual assault by their husband or partner. The approximate number of complaints received per day by the Violence Against Women and Children (VAWC) Desk in Pangasinan during the first quarter of 2020 is shown below. Find the mean, variance, and standard deviation of the distribution. Note: P(X) = : %3D X: P(X) X² - P(X) X f 21 P(X) 3 4 16 a2 = 32 15 8. 16 9 10 10 25 11 29 12 24 Standard Deviation Variance | E(x·P(X))= Mean(u) N = P(X) = 1 Ex² · P(X)= 197arrow_forwardLaura Naples, manager of Heritage Inn, periodically collects and tabulates information about a sample of the hotel’s overnight guests. This information aids her in pricing and scheduling decisions she must make. The table below lists data on 10 randomly selected hotel registrants, collected as the registrants checked out. The data listed are: Number of people in the group Hotel’s shuttle service used: yes or no Total telephone charges incurred Reason for stay: business or personal *Insert hw.png 1. Before cell telephones became so common, the average telephone charge per registered group was at least $5.00. Laura suspects that the average has dropped. Test H0: m > 5 and Ha: m < 5 using a .05 level of significance. Use both the critical value and p-value approaches to hypothesis testing. 2. In the past, Laura has made some important managerial decisions based on the assumption that the average number of people in a registered group is 2.5. Now she wonders if the assumption is…arrow_forwardThe North American Free Trade Agreement (NAFTA) enacted in 1994 is a trilateral trade agreement signed by the United States, Canada and Mexico. This trade agreement has been controversial since its inception and Americans remain split on the issue. In a Gallup Poll conducted February 1-5, 2017, 448 out of 973 randomly selected Americans aged 18 or older stated that they believed that NAFTA was bad for the United States. a. Find the point estimate for the proportion of Americans who believe that NAFTA was bad for the United States. Round your answer to 4 decimal places. b. Find the margin of error for a 95% confidence interval. Round your answer to 4 decimal places. c. Construct the 95% confidence interval for the proportion of Americans who believe that NAFTA was bad for the United States. Enter your answer as an open interval of the form (a,b) and round to 3 decimal places. d. Can you conclude that more than half of Americans believe that NAFTA was bad for the United States? No, the…arrow_forward
- The contingency table below represents employees of a communications company classified by age and field of expertise. Fill in the missing entries. Under 35 35-44 45+ Total Engineering 7,635 7,875 6,429 21,939 Business 13,195 38,814 Education 4,802 5,143 Liberal Arts 10,377 10,440 11,010 31,827 Total 36,009 37,313 110,405arrow_forwardIdentify the phrase that correctly identifies the population and sample for the following scenario: Dr. Smith wants to know the nutritional status of the first year students enrolled at her university. She got 150 first year students to represent the first year level. a)Sample- first year students, Population- 150 first year students. b)Sample- 150 first year students, Population- first year students.arrow_forwardA company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 6% of the employees suffered lost- time accidents last year. Management believes that a special safety program will reduce such accidents to 3% during the current year. In addition, it estimates that 15% of employees who had lost-time accidents last year will experience a lost-time accident during the current year. a. What percentage of the employees will experience lost-time accidents in both years (to 2 decimals)? b. What percentage of the employees will suffer at least one lost-time accident over the two-year period (to 2 decimals)? %arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- MATLAB: An Introduction with ApplicationsStatisticsISBN:9781119256830Author:Amos GilatPublisher:John Wiley & Sons IncProbability and Statistics for Engineering and th...StatisticsISBN:9781305251809Author:Jay L. DevorePublisher:Cengage LearningStatistics for The Behavioral Sciences (MindTap C...StatisticsISBN:9781305504912Author:Frederick J Gravetter, Larry B. WallnauPublisher:Cengage Learning
- Elementary Statistics: Picturing the World (7th E...StatisticsISBN:9780134683416Author:Ron Larson, Betsy FarberPublisher:PEARSONThe Basic Practice of StatisticsStatisticsISBN:9781319042578Author:David S. Moore, William I. Notz, Michael A. FlignerPublisher:W. H. FreemanIntroduction to the Practice of StatisticsStatisticsISBN:9781319013387Author:David S. Moore, George P. McCabe, Bruce A. CraigPublisher:W. H. Freeman
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman