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

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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Textbook Question

Chapter 7, Problem 64SE

Typical Home Internet Usage. According to USC Annenberg, the mean time spent by Americans on the Internet in their home per week is 17.6 hours. Assume that the standard deviation for the time spent by Americans on the Internet in their home per week is 5.1 hours. Suppose the Florida Department of State plans to select a random sample of 85,020 of the state’s residents for a study of Floridians’ Internet usage.

a. Using the U.S. population figures provided in the problem (the population mean and standard deviation of time spent by Americans on the Internet in their home per week are 17.6 hours and 5.1 hours, respectively), what is the sampling distribution of the sample mean for the sample of 85,020 Floridians?
b. Using the sampling distribution from part (a), what is the probability that a random sample of 85,020 Floridians will provide a sample mean that is within three minutes of the population mean?
c. Suppose the mean time spent on the Internet in their home per week by the sample of 85,020 Floridians differs from the U.S population mean by more than three minutes? How would you interpret this result?

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.

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Chapter 7 Solutions

Essentials Of Statistics For Business & Economics

Ch. 7.2 - Consider a finite population with five elements...Ch. 7.2 - Assume a finite population has 350 elements. Using...Ch. 7.2 - Industrial Stock Performance. Fortune publishes...Ch. 7.2 - The 10 most active stocks on the New York Stock...Ch. 7.2 - A student government organization is interested in...Ch. 7.2 - 6. The County and City Data Book, published by the...Ch. 7.2 - 7. Assume that we want to identify a simple random...Ch. 7.2 - Prob. 8E Ch. 7.2 - Returns on Mutual Finds. The Wall Street Journal...Ch. 7.2 - 10. Indicate which of the following situations...

Ch. 7.3 - The following data are from a simple random...Ch. 7.3 - Prob. 12E Ch. 7.3 - 13. A sample of 5 months of sales data provided...Ch. 7.3 - 14. Morningstar publishes ratings data on 1208...Ch. 7.3 - Rating Wines. According to Wine-Searcher, wine...Ch. 7.3 - AARP Survey. In a sample of 426 U.S. adults age 50...Ch. 7.3 - Attitudes Toward Automation. The Pew American...Ch. 7.5 - 18. 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 - 20. Assume the population standard deviation is σ...Ch. 7.5 - 21. Suppose a random sample of size 50 is selected...Ch. 7.5 - Sampling Distribution for Electronic Associates,...Ch. 7.5 - Finding Probabilities for Electronic Associates,...Ch. 7.5 - Barrons reported that the average number of weeks...Ch. 7.5 - SAT Scores. In May 2018, The College Board...Ch. 7.5 - Federal Income Tax Returns. The Wall Street...Ch. 7.5 - College Graduate-Level Wages. The Economic Policy...Ch. 7.5 - State Rainfalls. The state of California has a...Ch. 7.5 - Income Tax Return Preparation Fees. The CPA...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 - 32. A population proportion is .40. A sample of...Ch. 7.6 - Prob. 33E Ch. 7.6 - 34. The population proportion is .30. What is the...Ch. 7.6 - Orders from First-Time Customers. The president of...Ch. 7.6 - The Wall Street Journal reported that the age at...Ch. 7.6 - Food Waste. In 2017, the Restaurant Hospitality...Ch. 7.6 - Unnecessary Medical Care. According to Readers...Ch. 7.6 - Better Business Bureau Complaints. In 2016 the...Ch. 7.6 - 40. The Grocery Manufacturers of America reported...Ch. 7.6 - 41. The Food Marketing Institute shows that 17% of...Ch. 7.9 - A population has a mean of 400 and a standard...Ch. 7.9 - Assume the population standard deviation is = 25....Ch. 7.9 - Prob. 44E Ch. 7.9 - Assume that the population proportion is .44....Ch. 7.9 - Vacation Hours Earned by Blue-Collar and Service...Ch. 7.9 - MPG for New Cars. The New York Times reported that...Ch. 7.9 - Repeat Purchases. The president of Colossus.com,...Ch. 7.9 - Landline Telephone Service. According to the U.S....Ch. 7 - Shadow Stocks. Jack Lawler, a financial analyst,...Ch. 7 - Personal Health Expenditures. Data made available...Ch. 7 - 44. Foot Locker uses sales per square foot as a...Ch. 7 - Airline Fares. The mean airfare for flights...Ch. 7 - After deducting grants based on need, the average...Ch. 7 - Prob. 55SE Ch. 7 - Survey Research Results. A researcher reports...Ch. 7 - Production Quality Control. A production process...Ch. 7 - Australians and Smoking. Reuters reports that 15...Ch. 7 - 51. A market research firm conducts telephone...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 - Life of Compact Fluorescent Lights. In 2018, the...Ch. 7 - Typical Home Internet Usage. According to USC...Ch. 7 - Undeliverable Mail Pieces. Of the 155 billion...Ch. 7 - U.S. Drivers and Speeding. ABC News reports that...Ch. 7 - Managerial Report Prepare a managerial report that...

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