Questions from Business Statistics

Q: The average cost of a one-bedroom apartment in a town

The average cost of a one-bedroom apartment in a town is $850 per month. What is the probability of randomly selecting a sample of 50 one-bedroom apartments in this town and getting a sample mean of l...

Q: The Aluminum Association reports that the average American uses 56.8

The Aluminum Association reports that the average American uses 56.8 pounds of aluminum in a year. A random sample of 51 households is monitored for one year to determine aluminum usage. If the popula...

Q: Direct marketing companies are turning to the Internet for new opportunities.

Direct marketing companies are turning to the Internet for new opportunities. A recent study by Gruppo, Levey, & Co. showed that 73% of all direct marketers conduct transactions on the Internet. Suppo...

Q: According to the U.S. Bureau of Labor Statistics,

According to the U.S. Bureau of Labor Statistics, 20% of all people 16 years of age or older do volunteer work. In this age group, women volunteer slightly more than men, with 22% of women volunteerin...

Q: Suppose you work for a large firm that has 20,000

Suppose you work for a large firm that has 20,000 employees. The CEO calls you in and asks you to determine employee attitudes toward the company. She is willing to commit $100,000 to this project. Wh...

Q: In a particular area of the Northeast, an estimated 75%

In a particular area of the Northeast, an estimated 75% of the homes use heating oil as the principal heating fuel during the winter. A random telephone survey of 150 homes is taken in an attempt to d...

Q: The U.S. Bureau of Labor Statistics released hourly wage

The U.S. Bureau of Labor Statistics released hourly wage figures for various countries for workers in the manufacturing sector. The hourly wage was $30.67 for Switzerland, $20.20 for Japan, and $23.82...

Q: In each of the following cases, the variable represents one way

In each of the following cases, the variable represents one way that a sample can be stratified in a study. For each variable, list some strata into which the variable can be divided. a) Age of respon...

Q: Find the following values by using the Poisson formula. a

Find the following values by using the Poisson formula. a) P(x = 5│λ = 2.3) b) P(x = 2│λ = 3.9) c) P(x ≤ 3│λ = 4.1) d) P(x = 0│λ = 2.7) e) P(x = 1│λ = 5.4) f) P(4 < x

Q: Give a variable that could be used to stratify the population for

Give a variable that could be used to stratify the population for each of the following studies. List at least four subcategories for each variable. a) A political party wants to conduct a poll prior...