Questions from Business Statistics

Q: Determine the mean, the variance, and the standard deviation of

Determine the mean, the variance, and the standard deviation of the following discrete distribution. x _____________ P(x) 1 …………………………. .238 2 …………………………. .290 3 …………………………. .177 4 …………………………. .158 5...

Q: Shown here is a graph of a binomial distribution for n =

Shown here is a graph of a binomial distribution for n = 12. Study the graph and from the graph, estimate what you think is the mean of this distribution. Approximately what do you think is the value...

Q: According to a recent survey, the average family spends about $

According to a recent survey, the average family spends about $229 on electronics (computers, cell phones, etc.) in back-to-college spending per student. Suppose back-to- college family spending on el...

Q: According to the U.S. Department of Agriculture, Alabama

According to the U.S. Department of Agriculture, Alabama egg farmers produce millions of eggs every year. Suppose egg production per year in Alabama is normally distributed, with a standard deviation...

Q: The U.S. Bureau of Labor Statistics releases figures on

The U.S. Bureau of Labor Statistics releases figures on the number of full-time wage and salary workers with flexible schedules. The numbers of full-time wage and salary workers in each age category a...

Q: A business convention holds its registration on Wednesday morning from 9:

A business convention holds its registration on Wednesday morning from 9:00 a.m. until 12:00 noon. Past history has shown that registrant arrivals follow a Poisson distribution at an average rate of 1...

Q: The Zumper National Rent Report lists the average monthly apartment rent in

The Zumper National Rent Report lists the average monthly apartment rent in various locations in the United States. According to the report, the average cost of renting a one-bedroom apartment in Hous...

Q: According to The Wirthlin Report, 24% of all workers say

According to The Wirthlin Report, 24% of all workers say that their job is very stressful. If 60 workers are randomly selected, a) What is the probability that 17 or more say that their job is very st...

Q: According to Bureau of Labor Statistics data, the average income for

According to Bureau of Labor Statistics data, the average income for a worker in the metropolitan Boston area is $65,420. Suppose average income for a worker in the metropolitan Boston area is normall...

Q: Suppose inter arrival times at a hospital emergency room during a weekday

Suppose inter arrival times at a hospital emergency room during a weekday are exponentially distributed, with an average inter arrival time of 9 minutes. If the arrivals are Poisson distributed, what...