Math

StatisticsSTATISTICS F/BUSINESS+ECONOMICS-TEXTMahoney Custom Home Builders, Inc. of Canyon Lake, Texas, asked visitors to their website what is most important when choosing a home builder. Possible responses were quality, price, customer referral, years in business, and special features. Results showed that 23.5% of the respondents chose price as the most important factor (Mahoney Custom Homes website, November 13, 2012). Suppose a sample of 200 potential home buyers in the Canyon Lake area was selected. a. How many people would you expect to choose price as the most important factor when choosing a home builder? b. What is the standard deviation of the number of respondents who would choose price as the most important factor in selecting a home builder? What is the standard deviation of the number of respondents who do not list price as the most important factor in selecting a home builder?BuyFind*arrow_forward*

13th Edition

Anderson

Publisher: CENGAGE L

ISBN: 9781305881884

Chapter 5, Problem 68SE

Textbook Problem

Mahoney Custom Home Builders, Inc. of Canyon Lake, Texas, asked visitors to their website what is most important when choosing a home builder. Possible responses were quality, price, customer referral, years in business, and special features. Results showed that 23.5% of the respondents chose price as the most important factor (Mahoney Custom Homes website, November 13, 2012). Suppose a sample of 200 potential home buyers in the Canyon Lake area was selected.

- a. How many people would you expect to choose price as the most important factor when choosing a home builder?
- b. What is the standard deviation of the number of respondents who would choose price as the most important factor in selecting a home builder?

What is the standard deviation of the number of respondents who do not list price as the most important factor in selecting a home builder?

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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