Questions from Business Statistics

Q: Barron’s reported that the average number of weeks an individual is unemployed

Barron’s reported that the average number of weeks an individual is unemployed is 17.5 weeks. Assume that for the population of all unemployed individuals the population mean length of unemployment is...

Q: In May 2018, The College Board reported the following mean scores

In May 2018, The College Board reported the following mean scores for two parts of the Scholastic Aptitude Test (SAT): Evidence-Based Reading and Writing………….533 Mathematics……………………………………………….527 Assu...

Q: The Wall Street Journal reports that 33% of taxpayers with adjusted

The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return. The mean amount of deductions for...

Q: The Economic Policy Institute periodically issues reports on worker’s wages. The

The Economic Policy Institute periodically issues reports on worker’s wages. The institute reported that mean wages for male college graduates were $37.39 per hour and for female college graduates wer...

Q: The state of California has a mean annual rainfall of 22 inches

The state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches. Assume that the standard deviation for both states is 4 inches....

Q: The CPA Practice Advisor reports that the mean preparation fee for 2017

The CPA Practice Advisor reports that the mean preparation fee for 2017 federal income tax returns was $273. Use this price as the population mean and assume the population standard deviation of prepa...

Q: To estimate the mean age for a population of 4000 employees,

To estimate the mean age for a population of 4000 employees, a simple random sample of 40 employees is selected. a. Would you use the finite population correction factor in calculating the standard er...

Q: A population proportion is .40. A sample of size 200

A population proportion is .40. A sample of size 200 will be taken and the sample proportion / will be used to estimate the population proportion. a. What is the probability that the sample proportion...

Q: The population proportion is .30. What is the probability that

The population proportion is .30. What is the probability that a sample proportion will be within ±.04 of the population proportion for each of the following sample sizes? a. n = 100 b. n = 200 c. n =...

Q: A Bloomberg Businessweek North American subscriber study collected data from a sample

A Bloomberg Businessweek North American subscriber study collected data from a sample of 2861 subscribers. Fifty-nine percent of the respondents indicated an annual income of $75,000 or more, and 50%...