Questions from Business Statistics

Q: A company studied the number of lost-time accidents occurring at

A company studied the number of lost-time accidents occurring at its Brownsville, Texas, plant. Historical records show that 6% of the employees suffered losttime accidents last year. Management belie...

Q: Many undergraduate students in the U.S. study abroad as

Many undergraduate students in the U.S. study abroad as part of their education. Assume that 60% of the undergraduate students who study abroad are female and that 49% of the undergraduate students wh...

Q: An oil company purchased an option on land in Alaska. Preliminary

An oil company purchased an option on land in Alaska. Preliminary geologic studies assigned the following prior probabilities. P(high-quality oil)= .50 P(medium-quality oil)= .20 P(no oil)= .30...

Q: A study by Forbes indicated that the five most common words appearing

A study by Forbes indicated that the five most common words appearing in spam emails are shipping!, today!, here!, available, and fingertips!. Many spam filters separate spam from ham (email not con...

Q: The budgeting process for a midwestern college resulted in expense forecasts for

The budgeting process for a midwestern college resulted in expense forecasts for the coming year (in $ millions) of $9, $10, $11, $12, and $13. Because the actual expenses are unknown, the following r...

Q: Bookstore Customer Purchases. A bookstore at the Hartsfield-Jackson Airport

Bookstore Customer Purchases. A bookstore at the Hartsfield-Jackson Airport in Atlanta sells reading materials (paper-back books, newspapers, magazines) as well as snacks (peanuts, pretzels, candy, et...

Q: The Knowles/Armitage (KA) group at Merrill Lynch advises

The Knowles/Armitage (KA) group at Merrill Lynch advises clients on how to create a diversified investment portfolio. One of the investment alternatives they make available to clients is the All World...

Q: A Pew Research Survey asked adults in the United States which technologies

A Pew Research Survey asked adults in the United States which technologies would be “very hard” to give up. The following responses were obtained: Internet 53%, smartphone 49%, email 36%, and land-lin...

Q: According to a 2017 Gallup survey, the percentage of individuals in

According to a 2017 Gallup survey, the percentage of individuals in the United States who are invested in the stock market by age is as shown in the following table (Gallup website). Suppose Gallup...

Q: Many companies use a quality control technique called acceptance sampling to monitor

Many companies use a quality control technique called acceptance sampling to monitor incoming shipments of parts, raw materials, and so on. In the electronics industry, component parts are commonly sh...