Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 3, Problem 10E
(a)
To determine
Find the arithmetic mean of the number of overtime hours for the sample of 15 workers.
(b)
To determine
Identify whether the arithmetic mean computed in Part (a) is a statistic or a parameter.
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3. The following statements indicates the use of descriptive statistics EXCEPT
A. Last school year, the ages of students at Poytechnic University of the Philippines are from 16 to 21 years old.B. A car manufacturer wishes to estimate the average lifetime of batteries by testing a sample of 50 batteries.C. A basketball player wants to know his average score for the past 10 games.D. Based on the data of NTC, the number of subscribers increased by 30% from 2015 to 2016.
A) Suppose you are informed that the lowest score on the quiz was 5, and the highest score on the quiz was 23. Would this information be more likely to decrease your estimate for the median? Increaseyour estimate for the median or not have any impact on your estimate for the median
B) Suppose you are informed that the lowest score on the quiz was 5, and the highest score on the quiz was 23. Would this information be more likely to decrease your estimate for the mean, increase your estimate for the mean, or not have any impact on your estimate for the mean?
C) Suppose that after constructing this histogram, the teacher realizes that one of the students answered the last 4 quiz questions on the back of the sheet of paper and was not graded originally. The teacher regrades that student’s quiz, and the score then changes from 18 to 21. Which measure would be more likely to be impacted by this change: the median or the mean? Explain your reasoning.
Assume the data are minutes too late to statistics class of five consecutive days.
X
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11
What is the mean number of minutes you are late to class? Mean=
Chapter 3 Solutions
Statistical Techniques in Business and Economics
Ch. 3 - The annual incomes of a sample of...Ch. 3 - The six students in Computer Science 411 are a...Ch. 3 - Compute the mean of the following population...Ch. 3 - Compute the mean of the following population...Ch. 3 - a. Compute the mean of the following sample...Ch. 3 - a. Compute the mean of the following sample...Ch. 3 - Compute the mean of the following sample values:...Ch. 3 - Suppose you go to the grocery store and spend...Ch. 3 - For Exercises 710, (a) compute the arithmetic mean...Ch. 3 - For Exercises 710, (a) compute the arithmetic mean...
Ch. 3 - For Exercises 710, (a) compute the arithmetic mean...Ch. 3 - Prob. 10ECh. 3 - Prob. 11ECh. 3 - Prob. 12ECh. 3 - Prob. 2.1SRCh. 3 - The number of work stoppages in the automobile...Ch. 3 - Prob. 13ECh. 3 - Prob. 14ECh. 3 - Prob. 15ECh. 3 - Prob. 16ECh. 3 - Prob. 17ECh. 3 - Sally Reynolds sells real estate along the coastal...Ch. 3 - Prob. 19ECh. 3 - Prob. 20ECh. 3 - Prob. 3SRCh. 3 - Prob. 21ECh. 3 - Prob. 22ECh. 3 - Prob. 4SRCh. 3 - Prob. 23ECh. 3 - Prob. 24ECh. 3 - Prob. 25ECh. 3 - Prob. 26ECh. 3 - Prob. 5.1SRCh. 3 - Prob. 5.2SRCh. 3 - Compute the geometric mean of the following...Ch. 3 - Prob. 28ECh. 3 - Listed below is the percent increase in sales for...Ch. 3 - Prob. 30ECh. 3 - Prob. 31ECh. 3 - Prob. 32ECh. 3 - Prob. 33ECh. 3 - Prob. 34ECh. 3 - Prob. 6SRCh. 3 - Prob. 35ECh. 3 - Prob. 36ECh. 3 - Prob. 37ECh. 3 - Prob. 38ECh. 3 - Prob. 39ECh. 3 - Prob. 40ECh. 3 - Prob. 7SRCh. 3 - Prob. 41ECh. 3 - Prob. 42ECh. 3 - Prob. 43ECh. 3 - Prob. 44ECh. 3 - Plywood Inc. reported these returns on stockholder...Ch. 3 - Prob. 46ECh. 3 - Prob. 8SRCh. 3 - Prob. 47ECh. 3 - Prob. 48ECh. 3 - Prob. 49ECh. 3 - Prob. 50ECh. 3 - Prob. 51ECh. 3 - Prob. 52ECh. 3 - Prob. 9SRCh. 3 - Prob. 53ECh. 3 - The mean income of a group of sample observations...Ch. 3 - Prob. 55ECh. 3 - Prob. 56ECh. 3 - Prob. 10SRCh. 3 - Prob. 57ECh. 3 - Prob. 58ECh. 3 - Estimate the mean and the standard deviation of...Ch. 3 - Prob. 60ECh. 3 - The IRS was interested in the number of individual...Ch. 3 - Prob. 62ECh. 3 - Prob. 63CECh. 3 - Prob. 64CECh. 3 - Prob. 65CECh. 3 - Prob. 66CECh. 3 - Prob. 67CECh. 3 - Prob. 68CECh. 3 - Prob. 69CECh. 3 - Prob. 70CECh. 3 - Prob. 71CECh. 3 - Prob. 72CECh. 3 - Prob. 73CECh. 3 - A recent article suggested that, if you earn...Ch. 3 - Prob. 75CECh. 3 - Prob. 76CECh. 3 - Prob. 77CECh. 3 - Prob. 78CECh. 3 - The Apollo space program lasted from 1967 until...Ch. 3 - Prob. 80CECh. 3 - Prob. 81CECh. 3 - The Kentucky Derby is held the first Saturday in...Ch. 3 - Prob. 83CECh. 3 - Prob. 84CECh. 3 - Bidwell Electronics Inc. recently surveyed a...Ch. 3 - Refer to the Real Estate data, which reports...Ch. 3 - Refer to the Baseball 2012 data, which report...Ch. 3 - Refer to the Buena School District bus data....
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- c. The proportion of buyers who actually make a purchase appears to be relatively constant over time. In 2015, among a sample of 389 on-line buyers, 159 purchased merchandise. In 2019, for a sample of 301 on-line buyers, 138 purchased merchandise. At the .05 level of significance, did the proportion of on-line buyers change from 2015 to 2019?arrow_forwardSuppose the following table gives the extra travel time each year, in hours, for peak-period travelers in urban areas with more than 3 million people. Urban Area Annual Hours ofDelay per Traveler Los Angeles–Long Beach–Santa Ana, Ca 67 San Francisco–Oakland, CA 50 Atlanta, GA 61 Washington (D.C.–VA–MD) 66 Dallas–Fort Worth–Arlington, TX 53 Houston, TX 57 Find the mean of the extra travel time each year, in hours, for peak-period travelers in urban areas with more than 3 million people. (Round your answer to two decimal places.)hrWhat is the standard deviation for these data? (Round your answer to two decimal places.)hr the standard deviation isnt 6.8993arrow_forwardCalculate the correct t-statistics based on the information below. X1 = 200 X2 = 198 n1 = 17 n2 = 17 s1 = 2.45 s2 = 2.35 Let us assume that two groups of students at Tarleton are being compared on their average weights. Do you think the groups are different in terms of weight (measured in pounds)?arrow_forward
- 9- we know the population mean for turnover intentions is μ = 2.00. Is the mean for our current sample of employees significantly different from the population mean? Use an α = .01.arrow_forwardRobyn Banks is an investor who acquired 100 shares of a company in year one at $10 and 50 shares of the same company in year two at $40. What is the weighted mean across the two years of the price per share that Robyn paid?arrow_forwardThe following table gives the extra travel time in hours for peak-period travelers in urban areas with more than 3 million people in a certain year. Urban Area Annual Hours ofDelay per Traveler Los Angeles–Long Beach–Santa Ana, Ca 70 San Francisco–Oakland, CA 58 Atlanta, GA 61 Washington (D.C.–VA–MD) 60 Dallas–Fort Worth–Arlington, TX 51 Houston, TX 52 Find the mean of the extra travel time in that year, in hours, for peak-period travelers in urban areas with more than 3 million people. (Round your answer to two decimal places.)__hrWhat is the standard deviation for these data? (Round your answer to two decimal places.)___hrarrow_forward
- 2. Given the data, test whether there is a relationship between the number of years in college (X) of thestudents and their subsequent yearly income at 5% level of significance.arrow_forwardThe owner of a cell phone store at Greenhill’s Shopping Center was not happy when he learned that the average number of cell phones sold daily was only 8 mobile phones. He hired a new seller and told him to tally the daily sales for 20 days. The following are the number of cell phones sold for the past 20 days. 9 9 9 8 9 9 11 12 12 16 10 12 8 11 17 18 15 14 17 14 Do the collected data present sufficient evidence to indicate that the average number of cell phones sold daily has increased? Use 0.05 level of significance. Assume normality in the population.arrow_forwardfor the following data approximate the mean number of unused vacation days at the end of the year? days: 1-3,4-6,7-9,10-12,13-15 frequency:28,27,1,5,4arrow_forward
- In deciding how many customer service representatives to hire and in planning their schedules, it is important for a firm marketing electronic typewriters to study repair times for the machines. Such a study revealed that repair times have approximately an exponential distribution with a mean of 72 minutes. In planning schedules, how much time should be allowed for each repair so that the chance of any one repair time exceeding this allowed time is only 0.15?arrow_forwardFind out the next month after april income by using the forecasting method of the moving average methodarrow_forwardSuppose the price per share of stock for a sample of 25 companies was recorded at the beginning of the first financial quarter and then again at the end of the first financial quarter. How stocks perform during the first financial quarter is an indicator of what is ahead for the stock market and the economy. Company End of 1st quarter Beginning of 1st quarter Company 1 54.69 55.32 Company 2 56.20 78.52 Company 3 103.07 110.50 Company 4 80.45 85.08 Company 5 126.51 140.73 Company 6 133.23 137.28 Company 7 32.56 42.57 Company 8 51.41 54.54 Company 9 35.90 37.94 Company 10 14.55 19.48 Company 11 33.04 40.04 Company 12 45.33 40.36 Company 13 185.13 189.53 Company 14 109.28 109.45 Company 15 72.46 92.15 Company 16 49.32 55.03 Company 17 36.70 43.73 Company 18 79.57 86.18 Company 19 95.50 87.45 Company 20 43.09 47.09 Company 21 51.32 66.70 Company 22 77.45 86.53 Company 23 46.77 45.99 Company 24 46.45 48.13 Company 25 130.36 129.08 (a)…arrow_forward
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