menu
bartleby
search
close search
Hit Return to see all results
close solutoin list

Jack Lawler, a financial analyst, wants to prepare an article on the Shadow Stock portfolio developed by the American Association of Individual Investors (AAII). A list of the 30 companies in the Shadow Stock portfolio as of March 2014 is contained in the DATAfile named ShadowStocks (AAII website March 27, 2014). Jack would like to select a simple random sample of 5 of these companies for an interview concerning management practices. a. In the DATAfile the Shadow Stock companies are listed in column A of an Excel worksheet. In column B we have generated a random number for each of the companies. Use these random numbers to select a simple random sample of 5 of these companies for Jack. b. Generate a new set of random numbers and use them to select a new simple random sample. Did you select the same companies?

BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884

Solutions

Chapter
Section
BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
Publisher: CENGAGE L
ISBN: 9781305881884
Chapter 7, Problem 42SE
Textbook Problem
28 views

Jack Lawler, a financial analyst, wants to prepare an article on the Shadow Stock portfolio developed by the American Association of Individual Investors (AAII). A list of the 30 companies in the Shadow Stock portfolio as of March 2014 is contained in the DATAfile named ShadowStocks (AAII website March 27, 2014). Jack would like to select a simple random sample of 5 of these companies for an interview concerning management practices.

  1. a. In the DATAfile the Shadow Stock companies are listed in column A of an Excel worksheet. In column B we have generated a random number for each of the companies. Use these random numbers to select a simple random sample of 5 of these companies for Jack.
  2. b. Generate a new set of random numbers and use them to select a new simple random sample. Did you select the same companies?

a.

To determine

Draw a random sample of 5 of the companies of Jack.

Answer to Problem 42SE

The random sample of 5 of these companies are tabulated below,

Company

Random

Number

Hardinge Inc. (HDNG)0.4298384
Medical Action Industries (MDCI)0.3792011
Mitcham Industries, Inc. (MIND)0.4257654
Rocky Brands Inc (RCKY)0.7556817
Willis Lease Finance Corporati (WLFC)0.9063183

Explanation of Solution

Calculation:

Answers may vary. One of the possible answers is given:

The given data represents the Shadow Stock of 30 companies.

Software procedure:

Step-by-step software procedure to obtain a random samples using MINITAB software:

  • Click on Calc > Random Data > Sample from columns.
  • In Number of rows to sample, enter 5.
  • In the Store in column, enter column C2.
  • Click OK.
  • Click on Data > Display Data
  • Select C2.
  • Click Ok.

Output using MINITAB software is as follows:

STATISTICS F/BUSINESS+ECONOMICS-TEXT, Chapter 7, Problem 42SE , additional homework tip  1

Therefore, the random sample of 5 of these companies is,

Company

Random

Number

Hardinge Inc. (HDNG)0.4298384
Medical Action Industries (MDCI)0.3792011
Mitcham Industries, Inc. (MIND)0.4257654
Rocky Brands Inc (RCKY)0.7556817
Willis Lease Finance Corporati (WLFC)0.9063183

b.

To determine

Generate a new simple random sample and compare it with the sample in part (a).

Answer to Problem 42SE

The random sample of 5 of these companies is,

Company

Random

Number

Marlin Business Services Corp. (MRLN)0.6827254
International Shipholding Corp (ISH)0.227759457
VOXX International Corp (VOXX)0.629674789
Hardinge Inc. (HDNG)0.429838402
Rocky Brands Inc (RCKY)0.755681737

The random samples in these data set does not match with the random samples of part (a).

Explanation of Solution

Calculation:

Software procedure:

Step-by-step software procedure to obtain a random sample using MINITAB software is as follows,

  • Click on Calc > Random Data > Sample from columns.
  • In Number of rows to sample, enter 5.
  • In the Store in column, enter column C2.
  • Click OK
  • Click on Data > Display Data
  • Select C2.
  • Click Ok.

Output using MINITAB software is as follows,

STATISTICS F/BUSINESS+ECONOMICS-TEXT, Chapter 7, Problem 42SE , additional homework tip  2

Therefore the random sample of 5 of these companies is,

Company

Random

Number

Marlin Business Services Corp. (MRLN)0.6827254
International Shipholding Corp (ISH)0.227759457
VOXX International Corp (VOXX)0.629674789
Hardinge Inc. (HDNG)0.429838402
Rocky Brands Inc (RCKY)0.755681737

Here, it is observed that the drawn sample is not same as the sample drawn in part (a).

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter 7 Solutions

STATISTICS F/BUSINESS+ECONOMICS-TEXT
Show all chapter solutions
add
Ch. 7.3 - The following data are from a simple random...Ch. 7.3 - A survey question for a sample of 150 individuals...Ch. 7.3 - A sample of 5 months of sales data provided the...Ch. 7.3 - Morningstar publishes ratings data on 1208 company...Ch. 7.3 - The National Football League (NFL) polls fans to...Ch. 7.3 - A sample of 426 U.S. adults age 50 and older were...Ch. 7.3 - One of the questions in the Pew Internet American...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - A population has a mean of 200 and a standard...Ch. 7.5 - Assume the population standard deviation is = 25....Ch. 7.5 - Suppose a random sample of size 50 is selected...Ch. 7.5 - Refer to the EAI sampling problem. Suppose a...Ch. 7.5 - In the EAI sampling problem (see Figure 7.5), we...Ch. 7.5 - Barrons reported that the average number of weeks...Ch. 7.5 - The College Board reported the following mean...Ch. 7.5 - For the year 2010, 33% of taxpayers with adjusted...Ch. 7.5 - The Economic Policy Institute periodically issues...Ch. 7.5 - The state of California has a mean annual rainfall...Ch. 7.5 - The mean preparation fee HR Block charged retail...Ch. 7.5 - To estimate the mean age for a population of 4000...Ch. 7.6 - A sample of size 100 is selected from a population...Ch. 7.6 - A population proportion is .40. A sample of size...Ch. 7.6 - Assume that the population proportion is .55....Ch. 7.6 - The population proportion is .30. What is the...Ch. 7.6 - The president of Doerman Distributors, Inc.,...Ch. 7.6 - The Wall Street Journal reported that the age at...Ch. 7.6 - People end up tossing 12% of what they buy at the...Ch. 7.6 - Forty-two percent of primary care doctors think...Ch. 7.6 - In 2008 the Better Business Bureau settled 75% of...Ch. 7.6 - The Grocery Manufacturers of America reported that...Ch. 7.6 - The Food Marketing Institute shows that 17% of...Ch. 7 - Jack Lawler, a financial analyst, wants to prepare...Ch. 7 - The latest available data showed health...Ch. 7 - Foot Locker uses sales per square foot as a...Ch. 7 - Allegiant Airlines charges a mean base fare of 89....Ch. 7 - After deducting grants based on need, the average...Ch. 7 - Three firms carry inventories that differ in size....Ch. 7 - A researcher reports survey results by stating...Ch. 7 - A production process is checked periodically by a...Ch. 7 - Fifteen percent of Australians smoke. By...Ch. 7 - A market research firm conducts telephone surveys...Ch. 7 - Advertisers contract with Internet service...Ch. 7 - The proportion of individuals insured by the...Ch. 7 - Lori Jeffrey is a successful sales representative...Ch. 7 - Managerial Report Prepare a managerial report that...

Additional Math Textbook Solutions

Find more solutions based on key concepts
Show solutions add
Explain cause-related marketing

MKTG 12:STUDENT ED.-TEXT

PAYBACK PERIOD Refer to Problem 11-1. What is the projects payback?

Fundamentals of Financial Management (MindTap Course List)

REPLACEMENT ANALYSIS The Bigbee Bottling Company is contemplating the replacement of one of its bottling machin...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Meeting Profit Goals A manufacturer of a certain commodity has estimated that her profit in thousands of dollar...

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Exercises 1624 Given: mRST=2x3 mTSV=x2 mRSV=49 Find: xandmTSV

Elementary Geometry For College Students, 7e

Multiply: (+9)(2)

Elementary Technical Mathematics

True or False: Every series must do one of these: converge absolutely, converge conditionally, or diverge.

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Find the exact value of cos105.

Trigonometry (MindTap Course List)

APR and EAR Recall that the APR the annual percentage rate is the percentage rate on a loan that the Truth in L...

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

Evaluate the limit, if it exists. limx12x2+3x+1x22x3

Single Variable Calculus: Early Transcendentals, Volume I

Solve the equations in Exercises 126. (x3+1)x+1(x3+1)2x+1=0

Finite Mathematics and Applied Calculus (MindTap Course List)

Name all the angles in the figure.

Elementary Geometry for College Students

If h(2) = 4 and h'(2) = 3, find ddx(h(x)x)|x=2

Single Variable Calculus: Early Transcendentals

Find all the answers to your study problems with bartleby.
Textbook solutions plus Q&A. Get As ASAP arrow_forward