Statistical Techniques in Business and Economics, 16th Edition
Statistical Techniques in Business and Economics, 16th Edition
16th Edition
ISBN: 9780078020520
Author: Douglas A. Lind, William G Marchal, Samuel A. Wathen
Publisher: McGraw-Hill Education
bartleby

Videos

Question
Book Icon
Chapter 7, Problem 34E

a.

To determine

Find the expected number of muffler installations at City M’s branch that would take more than 30 minutes.

a.

Expert Solution
Check Mark

Answer to Problem 34E

The expected number of muffler installation at City M’s branch is 10.

Explanation of Solution

It is given that 20% of the mufflers are installed in more than 30 minutes.

The total number of mufflers installed by City M’s branch is 50. The number of muffler installation at City M’s branch follows the binomial distribution with n=50 and π=0.20.

The mean can be obtained as follows:

μ=nπ=50(0.20)=10

Therefore, the expected number of muffler installation at City M’s branch is 10.

The standard deviation can be obtained as follows:

σ=nπ(1π)=50(0.20)(10.20)=50(0.20)(0.80)=8=2.82.

b.

To determine

Find the likelihood that fewer than eight installations took more than 30 minutes.

b.

Expert Solution
Check Mark

Answer to Problem 34E

The likelihood that fewer than eight installations took more than 30 minutes is 0.1894.

Explanation of Solution

The likelihood that fewer than eight installations took more than 30 minutes can be obtained as follows:

P(X<8)=P(X<80.5)      [Apply the continuity correction factor]=P(X<7.5)=P(Xμσ<7.5102.82)=P(Z<2.52.82)=P(Z<0.88)

Step-by-step procedure to obtain the probability using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function. Then from category box, select Statistical and below that NORM.S.DIST.
  • Click Ok.
  • In the dialog box, Enter Z value as –0.88.
  • Enter Cumulative as TRUE.
  • Click Ok, the answer appears in the spreadsheet.

Output obtained using Excel is represented as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 7, Problem 34E , additional homework tip  1

From the above output, the probability of Z less than –0.88 is 0.1894.

Therefore, the likelihood that fewer than eight installations took more than 30 minutes is 0.1894.

c.

To determine

Find the likelihood that eight or fewer installations took more than 30 minutes.

c.

Expert Solution
Check Mark

Answer to Problem 34E

The likelihood that eight or fewer installations took more than 30 minutes is 0.2981.

Explanation of Solution

The likelihood that eight or fewer installations took more than 30 minutes can be obtained as follows:

P(X8)=P(X<8+0.5)      [Apply the continuity correction factor]=P(X<8.5)=P(Xμσ<8.5102.82)=P(Z<1.52.82)=P(Z<0.53)

Step-by-step procedure to obtain the probability using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function, then from category box, select Statistical and below that NORM.S.DIST.
  • Click Ok.
  • In the dialog box, Enter Z value as –0.53.
  • Enter Cumulative as TRUE.
  • Click Ok, the answer appears in the spreadsheet.

Output obtained using Excel is represented as follows:

Statistical Techniques in Business and Economics, 16th Edition, Chapter 7, Problem 34E , additional homework tip  2

From the above output, the probability of Z less than –0.53 is 0.2981.

Therefore, the likelihood that eight or fewer installations took more than 30 minutes is 0.2981.

d.

To determine

Find the likelihood that exactly 8 of the 50 installations took more than 30 minutes.

d.

Expert Solution
Check Mark

Answer to Problem 34E

The likelihood that exactly 8 of the 50 installations took more than 30 minutes is 0.1087.

Explanation of Solution

The likelihood that exactly 8 of the 50 installations took more than 30 minutes can be obtained as follows:

P(X=8)=P(80.5<X<8+0.5)      [Apply the continuity correction factor]=P(7.5<X<8.5)=P(7.5102.82<Xμσ<8.5102.82)=P(2.52.82<Z<1.52.82)=P(0.88<Z<0.53)=P(Z<0.53)P(Z<0.88)

From the previous Subpart b, the probability of Z less than –0.88 is 0.1894.

From the previous Subpart c, the probability of Z less than –0.53 is 0.2980.

Now, consider

P(X=8)=P(Z<0.53)P(Z<0.88)=0.29810.1894=0.1087

Therefore, the likelihood that exactly 8 installations took more than 30 minutes is 0.1087.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Chapter 7 Solutions

Statistical Techniques in Business and Economics, 16th Edition

Ch. 7 - List the major characteristics of a normal...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The Kamp family has twins, Rob and Rachel. Both...Ch. 7 - Prob. 12ECh. 7 - The temperature of coffee sold at the Coffee Bean...Ch. 7 - A normal population has a mean of 20.0 and a...Ch. 7 - A normal population has a mean of 12.2 and a...Ch. 7 - A recent study of the hourly wages of maintenance...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - Prob. 5SRCh. 7 - Prob. 17ECh. 7 - A normal population has a mean of 80.0 and a...Ch. 7 - According to the Internal Revenue Service, the...Ch. 7 - Prob. 20ECh. 7 - WNAE, an all-news AM station, finds that the...Ch. 7 - Prob. 22ECh. 7 - Prob. 6SRCh. 7 - A normal distribution has a mean of 50 and a...Ch. 7 - Prob. 24ECh. 7 - Prob. 25ECh. 7 - Prob. 26ECh. 7 - Prob. 27ECh. 7 - Prob. 28ECh. 7 - Prob. 29ECh. 7 - Prob. 30ECh. 7 - Prob. 7SRCh. 7 - Prob. 31ECh. 7 - Prob. 32ECh. 7 - Prob. 33ECh. 7 - Prob. 34ECh. 7 - Prob. 35ECh. 7 - Prob. 36ECh. 7 - Prob. 8SRCh. 7 - Prob. 37ECh. 7 - The lifetime of LCD TV sets follows an exponential...Ch. 7 - Prob. 39ECh. 7 - Prob. 40ECh. 7 - Prob. 41CECh. 7 - Prob. 42CECh. 7 - Prob. 43CECh. 7 - Prob. 44CECh. 7 - Prob. 45CECh. 7 - Prob. 46CECh. 7 - Prob. 47CECh. 7 - Prob. 48CECh. 7 - Shaver Manufacturing Inc. offers dental insurance...Ch. 7 - The annual commissions earned by sales...Ch. 7 - Prob. 51CECh. 7 - Prob. 52CECh. 7 - Management at Gordon Electronics is considering...Ch. 7 - Fast Service Truck Lines uses the Ford Super Duty...Ch. 7 - Prob. 55CECh. 7 - Prob. 56CECh. 7 - Prob. 57CECh. 7 - Prob. 58CECh. 7 - Prob. 59CECh. 7 - Prob. 60CECh. 7 - Prob. 61CECh. 7 - Prob. 62CECh. 7 - The weights of canned hams processed at Henline...Ch. 7 - Prob. 64CECh. 7 - Prob. 65CECh. 7 - The price of shares of Bank of Florida at the end...Ch. 7 - Prob. 67CECh. 7 - Prob. 68CECh. 7 - Prob. 69CECh. 7 - Prob. 70CECh. 7 - Prob. 71CECh. 7 - Prob. 72CECh. 7 - Prob. 73CECh. 7 - Prob. 74DECh. 7 - Prob. 75DECh. 7 - Prob. 76DECh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 1.1PTCh. 7 - Prob. 1.2PTCh. 7 - Prob. 1.3PTCh. 7 - Prob. 1.4PTCh. 7 - Prob. 1.5PTCh. 7 - Prob. 1.6PTCh. 7 - Which of the following is NOT a requirement of the...Ch. 7 - Prob. 1.8PTCh. 7 - How many standard normal distributions are there?...Ch. 7 - Prob. 1.10PTCh. 7 - Prob. 1.11PTCh. 7 - Prob. 1.12PTCh. 7 - Prob. 1.13PTCh. 7 - Prob. 1.14PTCh. 7 - Prob. 1.15PTCh. 7 - Prob. 2.1PTCh. 7 - Prob. 2.2PTCh. 7 - Prob. 2.3PTCh. 7 - Prob. 2.4PTCh. 7 - Prob. 2.5PTCh. 7 - Prob. 2.6PTCh. 7 - Prob. 2.7PT
Knowledge Booster
Background pattern image
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.
Recommended textbooks for you
Text book image
Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
Text book image
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Text book image
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Text book image
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Text book image
PREALGEBRA
Algebra
ISBN:9781938168994
Author:OpenStax
Publisher:OpenStax
What Are Research Ethics?; Author: HighSchoolScience101;https://www.youtube.com/watch?v=nX4c3V23DZI;License: Standard YouTube License, CC-BY
What is Ethics in Research - ethics in research (research ethics); Author: Chee-Onn Leong;https://www.youtube.com/watch?v=W8Vk0sXtMGU;License: Standard YouTube License, CC-BY