Questions from Business Statistics

Q: From Exercise 16 it appeared that the mean cost of a cappuccino

From Exercise 16 it appeared that the mean cost of a cappuccino was slightly higher than the mean cost of a dozen eggs. Given the variation among the prices, could that difference be due just to chanc...

Q: A 65-year-old woman takes out a $100

A 65-year-old woman takes out a $100,000 term life insurance policy. The company charges an annual premium of $520. Estimate the company expected profit on such policies if mortality tables indicate t...

Q: A company human resources officer reports a breakdown of employees by job

A company human resources officer reports a breakdown of employees by job type and sex shown in the table. 1. What the probability that a worker selected at random is 1. female? 2. female or a product...

Q: The Centers for Disease Control and Prevention say that about 18%

The Centers for Disease Control and Prevention say that about 18% of high-school students smoke tobacco (down from a high of 38% in 1997). Suppose you randomly select high-school students to survey th...

Q: Molly college offers two sections of Statistics 101. From what she

Molly college offers two sections of Statistics 101. From what she has heard about the two professors listed, Molly estimates that her chances of passing the course are 0.80 if she gets Professor Sced...

Q: Suppose that, as reported by the Centers for Disease Control,

Suppose that, as reported by the Centers for Disease Control, about 18% of high school students smoke tobacco. You randomly select 120 high school students to survey them on their attitudes toward sce...

Q: Given independent random variables with means and standard deviations as shown,

Given independent random variables with means and standard deviations as shown, find the mean and standard deviation of each of these variables: 1. X+50 2. 10Y 3. X+0.5Y 4. XY 5. X+Y

Q: Explain why the facts you know about variances of independent random variables

Explain why the facts you know about variances of independent random variables might encourage two small insurance companies to merge. (Hint: Think about the expected amount and potential variability...

Q: According to a recent Gallup survey, 93% of teens use

According to a recent Gallup survey, 93% of teens use the Internet, but there are differences in how teen boys and girls say they use computers. The telephone poll found that 77% of boys had played co...

Q: A college student on a seven-day meal plan reports that

A college student on a seven-day meal plan reports that the amount of money he spends daily on food varies with a mean of $13.50 and a standard deviation of $7. 1. What are the mean and standard devia...