BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
14th Edition
ISBN: 9780134685045
Author: BERENSON
Publisher: PEARSON
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Textbook Question
Chapter 5, Problem 23PS
Refer to Problem 5.22. How many cookies in a batch of 100 should the manager expect to discard if company policy requires that all chocolate-chip sold have at least four chocolate-chip parts?
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2. A group of artists have decided to produce hand-drawn cards for Valentine's Day, and donate the money to the American Heart Association. The artists plan to produce ink drawings
and watercolors. They have volunteered to spend 120 hours of preparation time, and 60 hours of packaging time. It takes 0.3 hours to prepare each ink drawing, and 0.5 hours to
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Which set of inequalities represents this situation?
9. Suppose an electronics store offers an extended warranty on a cell phone that covers screenrepair and camera repair and will cost $9.99 per month. Suppose there is a 14% chance ofneeding a screen repair in the next year and an 11% chance of needing a camera repair. Suppose a screen repair will cost the store $155 and a camera repair will cost the store $79. How much annual profit does the store expect for each warranty purchased?
1. A manager at an ice cream store to determine how many customers to expect on any given day. Overall business has been relatively steady over the past several years, but the customer count seems to have ups and downs. He collects data over 30 days and records the number of customers, the high temperature (in degrees Fahrenheit), and whether the day fell on the weekend (weekend equals 1 if weekend, 0 otherwise). A portion of the data is shown in the accompanying table.
Customers Temperature Weekend
385 70 0
423 75 1
505 74 0
343 68 1
519 73 1
595 81 1
656 90 0
584 82 1
438 74 1
447 69 1
360…
Chapter 5 Solutions
BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
Ch. 5 - Given the following probability distributions. a....Ch. 5 - The following table contains the probability...Ch. 5 - Recently , a regional automobile dealership sent...Ch. 5 - In the carnival game Under-or -Over-Seven, a pair...Ch. 5 - The number of arrivals per minute at a bank...Ch. 5 - The manager of the commercial mortgage department...Ch. 5 - You are trying to develop a strategy for investing...Ch. 5 - You plan to invest $1,000 in a corporate bond fund...Ch. 5 - Determine the following:...Ch. 5 - Determine the mean and standard deviation of the...
Ch. 5 - The increase or decrease in the price of a stock...Ch. 5 - According to the Pew Research Center, 51 of...Ch. 5 - A student is taking a multiple-choice exam in...Ch. 5 - A manufacturing company regularly conducts quality...Ch. 5 - Past records indicates that the probability of...Ch. 5 - In Example 5.4 on page 209, you and two friends...Ch. 5 - In Example 5.4 on page 209, you and two friends...Ch. 5 - Assume a Poisson distribution....Ch. 5 - Assume a Poisson distribution....Ch. 5 - Assume a Poisson distribution with =5.0. What is...Ch. 5 - Assume that the number of airline customer service...Ch. 5 - The quality control manager of Marilyn’s Cookies...Ch. 5 - Refer to Problem 5.22. How many cookies in a batch...Ch. 5 - Prob. 24PSCh. 5 - The U.S Department of Transportation maintains...Ch. 5 - The Consumer Financial Protection Bureau’s...Ch. 5 - J.D. Power and Associates calculates and publishes...Ch. 5 - Refer to Problem 5.27. if you purchased a Toyota...Ch. 5 - A toll-free phone number is available from 9 A.M....Ch. 5 - Prob. 30PSCh. 5 - What are the four properties that must be present...Ch. 5 - Prob. 32PSCh. 5 - Darwin Head, a 35-year-old sawmill worker, won 1...Ch. 5 - Between 1896-when the Dow Jones index was...Ch. 5 - Smartphone adoption among American younger adults...Ch. 5 - One theory concerning the Dow jones industrial...Ch. 5 - Prob. 37PSCh. 5 - Prob. 38PSCh. 5 - Social log-ins involve recommending of sharing an...Ch. 5 - The Consumer Financial Protection Bureau’s...Ch. 5 - Refer to Problem 5.40. In the same time period,...Ch. 5 - One theory concerning the...Ch. 5 - Spurious correlation refers to the apparent...Ch. 5 - The United Auto Courts Reports blog notes that are...
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- If during the following year it is predicted that each comedy skit will generate 30 thousand and each musical number 20 thousand, find the maximum income for the year. A television program director must schedule comedy skits and musical numbers for prime-time variety shows. Each comedy skit requires 2 hours of rehearsal time, costs 3000, and brings in 20,000 from the shows sponsors. Each musical number requires 1 hour of rehearsal time, costs 6000, and generates 12,000. If 250 hours are available for rehearsal and 600,000 is budgeted for comedy and music, how many segments of each type should be produced to maximize income? Find the maximum income.arrow_forwardJohnson Filtration, Inc. provides maintenance service for water-filtration systems. Suppose that in addition to information on the number of months since the machine was serviced and whether a mechanical or an electrical repair was necessary, the managers obtained a list showing which repairperson performed the service. Repair Time(hours) Months SinceLast Service Type ofRepair Repairperson 2.9 2 electrical Dave Newton 3.0 6 mechanical Dave Newton 4.8 8 electrical Bob Jones 1.8 3 mechanical Dave Newton 2.9 2 electrical Dave Newton 4.9 7 electrical Bob Jones 4.2 9 mechanical Bob Jones 4.8 8 mechanical Bob Jones 4.4 4 electrical Bob Jones 4.5 6 electrical Dave Newton Ignore for now the months since the last maintenance service (x1 ) and the repairperson who performed the service. Develop the estimated simple linear regression equation to predict the repair time (y) given the…arrow_forward2. Sarah is a newly recruited revenue manager of Rose hotel that is a 300-room family owned hotel in Pasadena, California. She is the head of the reservation department with two reservation staff members. She is also in charge of pricing, inventory allocation and other booking issues. It is important to calculate the anticipation of no-shows so that Sarah can decide number of overbookings to accept. If a hotel can estimate the most accurate number of no show and set its overbooking level at that number, it will be able to achieve the highest revenue possible by making sure all the rooms go occupied. No-Shows 0 1 2 3 4 5 Total Number of occurrences Probability 6 12 12 15 9 6 60 Number of no-show a. A table above illustrates statistics of no-show occurrences last two months. i. How many numbers of overbooking order can Sara accept? Why? (Hint: please consider average number of no-shows). Average number of no-shows = Sum of (Number of no-shows guests X no-shows probability) Probability…arrow_forward
- 4. Businesses today regularly deal with malicious emails (also known as phishing attacks). Last year, data from an Internet Security Threat Report indicated that 0.2% of all email attachments contained a virus, often ransomware infections in a fake invoice attachment. AAssume that a company receives an average of 700 email attachments per day. How many infected email-attachments would it expect to receive in a 365-day year? Type only the nearest whole number. Do not provide units.arrow_forward1. Suppose an electronics store offers an extended warranty on a cell phone that covers screenrepair and camera repair and will cost $9.99 per month. Suppose there is a 14% chance ofneeding a screen repair in the next year and an 11% chance of needing a camera repair.Suppose a screen repair will cost the store $155 and a camera repair will cost the store $79.How much annual profit does the store expect for each warranty purchased? 2. Suppose there is a probability of 4/5 that you will get an A on any given exam. Create atable giving the probability distribution for the number of A’s that you could get if you taketwo exams.arrow_forward1. Suppose that two students, A and B, are both 29 years old but A is a female whereas B is a male, A is single while B is married. Both had an income of 4500 cedis when in the university and both have health inventory score of 21. Student A had two kids while in the university whereas student B had 4 kids. Both scored 16 on life satisfaction inventories as well as 23 on socioeconomic status of parents. Student A was a smoker but B was not. A scored 7 while B scored 12 on spirituality inventory. Both finished the university program but whiles a was earning 9000 Ghana cedis seven years after university, B was earning 6800. What is the predicted difference in the life satisfaction score of these two student seven years after university? 2. How much higher is the life satisfaction score predicted to be if the score on spirituality inventory rises by 25? 3. Which one of the pairs of variables selected to be multicollinear may be deleted from the regression and why? 4. Interpret the…arrow_forward
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