Essentials Of Statistics For Business & Economics

9th Edition

ISBN: 9780357045435

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: South-Western College Pub

See similar textbooks

Concept explainers

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear re…

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.

Videos

Textbook Question

Chapter 6.3, Problem 27E

Assume a binomial probability distribution has p = .60 and n = 200.

a. What are the mean and standard deviation?
b. Is this situation one in which binomial probabilities can be approximated by the normal probability distribution? Explain.
c. What is the probability of 100 to 110 successes?
d. What is the probability of 130 or more successes?
e. What is the advantage of using the normal probability distribution to approximate the binomial probabilities? Use part (d) to explain the advantage.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Chapter 6.3, Problem 26E

Chapter 6.3, Problem 28E

Students have asked these similar questions

The following table shows the IQs of 480 elementary school children. Determine the four moments (mean, standard deviation, asymmetry, and skewness). Class mark (X) 70 74 78 82 86 90 94 98 102 106 110 114 118 122 126 Frequencies (f) 4 9 16 28 45 66 85 72 54 38 27 18 11 5 2

Calculate the respective coefficients of variation. Compare the results in each problem: Pulse Rates Listed below are the pulse rates (beats per minute) for samples of adult men and women (from Data Set 1 "Body Data" in Appendix B). Does there appear to be a difference? Men: 86 72 64 72 72 54 66 56 80 72 64 64 96 58 66 Women: 64 84 82 70 74 86 90 88 90 90 94 68 90 82 80 Lines at the Bank Customer wait times (in seconds) at the Madison Savings Bank are recorded using two configurations: single customer line; individual customer lines. Single Line 390 396 402 408 426 438 444 462 462 462 Individual Lines 252 324 348 372 402 462 462 510 558 600

The following ordered data listing shows the data rates for cellular phones for a telephone company at an airport. a) Calculate the measures of central tendency for the list of unclustered data. b) group the data in an appropriate frequency table. c) calculate the measures of central tendency using the table resulting from b). 0.8 1.4 1.8 1.9 3.2 3.6 4.5 4.5 4.6 6.2 6.5 7.7 7.9 9.9 10.2 10.3 10.9 11.1 11.1 11.6 11.8 12.0 13.1 13.5 13.7 14.1 14.2 14.7 15.0 15.1 15.5 15.8 16.0 17.5 18.2 20.2 21.1 21.5 22.2 22.4 23.1 24.5 25.7 28.5 34.6 38.5 43.0 55.6 71.3 77.8

Chapter 6 Solutions

Essentials Of Statistics For Business & Economics

Ch. 6.1 - The random variable x is known to be uniformly...Ch. 6.1 - The random variable x is known to be uniformly...Ch. 6.1 - Cincinnati to Tampa Flight Time. Delta Airlines...Ch. 6.1 - Excel RAND Function. Most computer languages...Ch. 6.1 - Tesla Battery Recharge Time. The electric-vehicle...Ch. 6.1 - A Gallup Daily Tracking Survey found that the mean...Ch. 6.1 - 7. Suppose we are interested in bidding on a piece...Ch. 6.2 - Using Figure 6.6 as a guide, sketch a normal curve...Ch. 6.2 - A random variable is normally distributed with a...Ch. 6.2 - Draw a graph for the standard normal distribution....

Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - 13. Given that z is a standard normal random...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Given that z is a standard normal random variable,...Ch. 6.2 - Height of Dutch Men. Males in the Netherlands are...Ch. 6.2 - Large-Cap Domestic Stock Fund. The average return...Ch. 6.2 - Automobile Repair Costs. Automobile repair costs...Ch. 6.2 - Gasoline Prices. Suppose that the average price...Ch. 6.2 - Mensa Membership. A person must score in the upper...Ch. 6.2 - Television Viewing. Suppose that the mean daily...Ch. 6.2 - Time to Complete Final Exam. The time needed to...Ch. 6.2 - Labor Day Travel Costs. The American Automobile...Ch. 6.2 - Household Income in Maryland. According to Money...Ch. 6.3 - A binomial probability distribution has p=.20 and...Ch. 6.3 - Assume a binomial probability distribution has p =...Ch. 6.3 - Adults Who Smoke. Although studies continue to...Ch. 6.3 - Americans Who Believe Global Warming Is Occurring....Ch. 6.3 - Playing Video Games. Suppose that of those...Ch. 6.3 - Visitors to Rocky Mountain National Park. Rocky...Ch. 6.4 - Consider the following exponential probability...Ch. 6.4 - 33. Consider the following exponential probability...Ch. 6.4 - 34. Battery life between charges for the Motorola...Ch. 6.4 - 35. The time between arrivals of vehicles at a...Ch. 6.4 - 36. Comcast Corporation is the largest cable...Ch. 6.4 - 37. Wendy’s restaurant has been recognized for...Ch. 6.4 - 38. The Boston Fire Department receives 911 calls...Ch. 6 - 39. A business executive, transferred from Chicago...Ch. 6 - NCAA Scholarships. The NCAA estimates that the...Ch. 6 - Production Defects. Motorola used the normal...Ch. 6 - Bringing Items to a Pawnshop. One indicator of the...Ch. 6 - Amazon Alexa App Downloads. Alexa is the popular...Ch. 6 - Service Contract Offer. Ward Doering Auto Sales is...Ch. 6 - Wedding Costs. The XO Group Inc. conducted a 2015...Ch. 6 - College Admissions Test Scores. Assume that the...Ch. 6 - College Graduates Starting Salaries. According to...Ch. 6 - 48. A machine fills containers with a particular...Ch. 6 - Multiple-Choice Exam. Consider a multiple-choice...Ch. 6 - Playing Blackjack. A blackjack player at a Las...Ch. 6 - Mean Time Between Failures. The mean time between...Ch. 6 - The website for the Bed and Breakfast Inns of...Ch. 6 - Do you dislike waiting in line? Supermarket chain...Ch. 6 - Prob. 54SE

Knowledge Booster

$Statistics$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.