Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
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Chapter 4, Problem 62PS
A survey by Accenture indicated that 64% of millennials as compared to 28% of baby boomers prefer “hybrid� investment advice-a combination of traditional advisory services and low-cost digital tools-over either a dedicated human advisor or conventional robo-advisory services (computer-generated advice and services without human advisors) alone.
Suppose that the survey was based on 500 respondents from each of the two generation groups.
a. Construct a contingency table.
b. Give an example of a simple event and a joint event.
c. What is the probability that a randomly selected respondent prefers hybrid investment advice?
d. What is the probability that a randomly selected respondent prefers hybrid investment advice and is a baby boomer?
e. Are the events “generation group� and “prefer hybrid investment advice� independent? Explain?
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In a Gallup telephone survey conducted on April 9–10, 2013, the person being interviewedwas asked if he would vote for a law in his state that would increase the gas tax up to20 cents a gallon, with the new gas tax money going to improve roads and bridges andbuild more mass transportation in his state. Possible responses were vote for, vote against,and no opinion. Two hundred ninety five respondents said they would vote for the law,672 said they would vote against the law, and 51 said they had no opinion (Gallup website,June 14, 2013).a. Do the responses for this question provide categorical or quantitative data?b. What was the sample size for this Gallup poll?
In a Gallup telephone survey conducted on April 9–10, 2013, the person being interviewedwas asked if he would vote for a law in his state that would increase the gas tax up to20 cents a gallon, with the new gas tax money going to improve roads and bridges andbuild more mass transportation in his state. Possible responses were vote for, vote against,and no opinion. Two hundred ninety five respondents said they would vote for the law,672 said they would vote against the law, and 51 said they had no opinion (Gallup website,June 14, 2013).a. Do the responses for this question provide categorical or quantitative data?b. What was the sample size for this Gallup poll?c. What percentage of respondents would vote for a law increasing the gas tax?d. Do the results indicate general support for or against increasing the gas tax to improveroads and bridges and build more mass transportation?
Chapter 4 Solutions
Basic Business Statistics, Student Value Edition
Ch. 4 - Three coins are tossed. a. Give an example of a...Ch. 4 - An urn contain 12 red balls and 8 white balls. One...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - For each of the following, indicate whether the...Ch. 4 - For each of the following, state whether the...Ch. 4 - Which of the following events occur with a...Ch. 4 - Do Millennials or Gen-Xers feel more tense or...Ch. 4 - Referring to the contingency table in Problem 4.8,...Ch. 4 - How will markers change their social media use in...
Ch. 4 - Referring to the contingency table in Problem...Ch. 4 - Have the gains in student learning attributed to...Ch. 4 - Do Generation X and Boomers differ in how they use...Ch. 4 - A survey of 1,520 Americans, adults asked, “Do...Ch. 4 - Each year ratings are compiled concerning the...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - Consider the following contingency table: What is...Ch. 4 - If P(AandB)=0.4andP(B)=0.8,findP(AB).Ch. 4 - Prob. 19PSCh. 4 - ...Ch. 4 - Do Millennials or Gen-Xers feel more tense...Ch. 4 - How will marketers change their social media use...Ch. 4 - Do generation X and Boomers differ in how they use...Ch. 4 - Have the grains in student learning attributed to...Ch. 4 - A survey of 1,520 Americans adults asked “Do you...Ch. 4 - Each year, rating are compiled concerning the...Ch. 4 - In 42 of the 66 years from 1950 through 2010 (in...Ch. 4 - A standard deck of cards is being used to play a...Ch. 4 - A box of nine iPhone 7 cellphones contains two red...Ch. 4 - ...Ch. 4 - ...Ch. 4 - In Example 4.10 to suppose that the probability...Ch. 4 - Big Commerce launched a study to analyze modern...Ch. 4 - Olive Construction Company is determining whether...Ch. 4 - The 2016 Global Information Security Workforce...Ch. 4 - The editor of a textbook published company is...Ch. 4 - A municipal bond service has three rating...Ch. 4 - If there are 10 multiple-choice question on an...Ch. 4 - A lock on a bank vault consists of three dials,...Ch. 4 - a. If a coin is tossed seven times, how many...Ch. 4 - A particular brand of women’s jeans is available...Ch. 4 - Prob. 42PSCh. 4 - A team is being formed that includes four...Ch. 4 - In the National Basketball League there are five...Ch. 4 - Referring to Problem 4.44 how many different...Ch. 4 - A gardener has six rows available in his vegetable...Ch. 4 - How many different ways can a senior project...Ch. 4 - Four member of a group of 10 people are to be...Ch. 4 - A student has seven books that she would like to...Ch. 4 - A daily lottery is conducted in which 2 winning...Ch. 4 - There are 15 exercise bikes in a fitness store...Ch. 4 - What are the differences between a priori...Ch. 4 - What is the difference between a simple event and...Ch. 4 - How can you use the general addition rule to find...Ch. 4 - What is the difference between mutually exclusive...Ch. 4 - How does conditional probability relate to the...Ch. 4 - How does the multiplication rule differ for events...Ch. 4 - How can you use Bayes theorem in light of new...Ch. 4 - In Bayes’ theorem, how does the prior...Ch. 4 - What is the difference between Counting Rule 1 and...Ch. 4 - What is the difference between a permutation and...Ch. 4 - A survey by Accenture indicated that 64% of...Ch. 4 - Chartered Institute of personnel and Development...Ch. 4 - To better understand the website builder market,...Ch. 4 - Content Marketing institute provides insight on...Ch. 4 - The CMO survey collects and dissemination the...
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