Question: According to the Insurance Institute of America,

> Suppose we roll a fair die two times. a. How many different samples are there? b. List each of the possible samples and compute the mean. c. On a chart similar to Chart 8–2, compare the distribution of sample means with the distribution of the population

> For the following situations, would you collect information using a sample or a population? Why? a. Statistics 201 is a course taught at a university. Professor Rauch has taught nearly 1,500 students in the course over the past 5 years. You would like to

> The Appliance Center has six sales representatives at its North Jacksonville outlet. The following table lists the number of refrigerators sold by each representative last month. a. How many samples of size 2 are possible? b. Select all possible sample

> At the downtown office of First National Bank, there are five tellers. Last week, the tellers made the following number of errors each: 2, 3, 5, 3, and 5. a. How many different samples of two tellers are possible? b. List all possible samples of size 2 a

> Trudy Green works for the True-Green Lawn Company. Her job is to solicit lawncare business via the telephone. Listed below is the number of appointments she made in each of the last 25 hours of calling. What is the arithmetic mean number of appointments

> The price of shares of Bank of Florida at the end of trading each day for the last year followed the normal distribution. Assume there were 240 trading days in the year. The mean price was $42.00 per share and the standard deviation was $2.25 per share.

> According to the “January theory,” if the stock market is up for the month of January, it will be up for the year. If it is down in January, it will be down for the year. According to an article in The Wall Street Journal, this theory held for 29 out of

> Reynolds Construction Company has agreed not to erect all “look-alike” homes in a new subdivision. Five exterior designs are offered to potential home buyers. The builder has standardized three interior plans that can be incorporated in any of the five e

> Cruise ships of the Royal Viking line report that 80% of their rooms are occupied during September. For a cruise ship having 800 rooms, what is the probability that 665 or more are occupied in September?

> Recent difficult economic times have caused an increase in the foreclosure rate of home mortgages. Statistics from the Penn Bank and Trust Company show their monthly foreclosure rate is now 1 loan out of every 136 loans. Last month the bank approved 300

> Suppose 1.5% of the antennas on new Nokia cell phones are defective. For a random sample of 200 antennas, find the probability that: a. None of the antennas is defective. b. Three or more of the antennas are defective.

> Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency distribution showing the advertising expenditures for 60 manufacturing companies located in the Southwest. Estimate the mean and the standard deviatio

> Listed below is the population by state for the 15 states with the largest population. Also included is whether that state’s border touches the Gulf of Mexico, the Atlantic Ocean, or the Pacific Ocean (coastline). Note that 5 of the 1

> A population consists of the following five values: 2, 2, 4, 4, and 8. a. List all samples of size 2, and compute the mean of each sample. b. Compute the mean of the distribution of sample means and the population mean. Compare the two values. c. Compare

> SCCoast, an Internet provider in the Southeast, developed the following frequency distribution on the age of Internet users. Estimate the mean and the standard deviation. Age (years) ___________Frequency 10 up to 20………………………………… 3 20 up to 30 …………………………

> DJ LeMahieu of the Colorado Rockies had the highest batting average in the 2016 Major League Baseball season. His average was .348. So assume the probability of getting a hit is .348 for each time he batted. In a particular game, assume he batted three t

> Estimate the mean and the standard deviation of the following frequency distribution showing the number of times students eat at campus dining places in a month. Class ____________Frequency 0 up to 5 ……………………………….. 2 5 up to 10 ……………………………… 7 10 up to 1

> A recent news report indicated that 20% of all employees steal from their company each year. If a company employs 50 people, what is the probability that: a. Fewer than five employees steal? b. More than five employees steal? c. Exactly five employees st

> In establishing warranties on HDTVs, the manufacturer wants to set the limits so that few will need repair at the manufacturer’s expense. On the other hand, the warranty period must be long enough to make the purchase attractive to the buyer. For a new H

> Topten is a leading source on energy-efficient products. Their list of the top seven vehicles in terms of fuel efficiency for 2017 includes three Hondas. a. Determine the probability distribution for the number of Hondas in a sample of two cars chosen fr

> The website, herecomestheguide.com, suggested that couples planning their wedding should expect eighty percent of those who are sent an invitation to respond that they will attend. Rich and Stacy are planning to be married later this year. They plan to s

> Shorty’s Muffler advertises it can install a new muffler in 30 minutes or less. However, the work standards department at corporate headquarters recently conducted a study and found that 20% of the mufflers were not installed in 30 minutes or less. The M

> Dr. Richmond, a psychologist, is studying the daytime television viewing habits of college students. She believes 45% of college students watch soap operas during the afternoon. To further investigate, she selects a sample of 10. a. Develop a probability

> Refer to the Baseball 2016 data that report information on the 30 Major League Baseball teams for the 2016 season. Create a frequency distribution for the Team Salary variable and answer the following questions. a. What is the typical salary for a team?

> Assume a binomial probability distribution with n = 40 and π = .55. Compute the following: a. The mean and standard deviation of the random variable. b. The probability that x is 25 or greater. c. The probability that x is 15 or less. d. The probability

> Customers experiencing technical difficulty with their Internet cable service may call an 800 number for technical support. It takes the technician between 30 seconds and 10 minutes to resolve the problem. The distribution of this support time follows th

> Thirty percent of the population in a southwestern community are Spanish-speaking Americans. A Spanish-speaking person is accused of killing a non-Spanish-speaking American and goes to trial. Of the first 12 potential jurors, only 2 are Spanish-speaking

> The payouts for the Powerball lottery and their corresponding odds and probabilities of occurrence are shown below. The price of a ticket is $1.00. Find the mean and standard deviation of the payout. Hint: Don’t forget to include the co

> In the United States, the industrial revolution of the early 20th century changed farming by making it more efficient. For example, in 1910 U.S. farms used 24.2 million horses and mules and only about 1,000 tractors. By 1960, 4.6 million tractors were us

> An Internet company located in Southern California has season tickets to the Los Angeles Lakers basketball games. The company president always invites one of the four vice presidents to attend games with him, and claims he selects the person to attend at

> Refer to the Lincolnville School District bus data. a. Referring to the maintenance cost variable, develop a box plot. What are the minimum, first quartile, median, third quartile, and maximum values? Are there any outliers? b. Using the median maintenan

> The annual incomes of the five vice presidents of TMV Industries are $125,000; $128,000; $122,000; $133,000; and $140,000. Consider this a population. a. What is the range? b. What is the arithmetic mean income? c. What is the population variance? The st

> The following notice appeared in the golf shop at a Myrtle Beach, South Carolina, golf course. Blackmoor Golf Club Members The golf shop is holding a raffle to win a TaylorMade M1 10.5° Regular Flex Driver ($300 value). Tickets are $5.00 each. Only 80 ti

> Refer to the North Valley real estate data recorded on homes sold during the last year. Prepare a report on the selling prices of the homes based on the answers to the following questions. a. Compute the minimum, maximum, median, and the first and the th

> In a Poisson distribution μ = 4. a. What is the probability that x = 2? b. What is the probability that x ≤ 2? c. What is the probability that x > 2?

> A recent study of home technologies reported the number of hours of personal computer usage per week for a sample of 60 persons. Excluded from the study were people who worked out of their home and used the computer as a part of their work. a. Organize

> An investor owns three common stocks. Each stock, independent of the others, has equally likely chances of (1) Increasing in value, (2) Decreasing in value, or (3) Remaining the same value. List the possible outcomes of this experiment. Estimate the prob

> As part of a study of corporate employees, the director of human resources for PNC Inc. wants to compare the distance traveled to work by employees at its office in downtown Cincinnati with the distance for those in downtown Pittsburgh. A sample of 35 Ci

> Midland National Bank selected a sample of 40 student checking accounts. Below are their end-of-the-month balances. a. Tally the data into a frequency distribution using $100 as a class interval and $0 as the starting point. b. Draw a cumulative freque

> All eight companies in the aerospace industry were surveyed as to their return on investment last year. The results are: 10.6%, 12.6%, 14.8%, 18.2%, 12.0%, 14.8%, 12.2%, and 15.6%. Calculate the (a) Range, (b) Arithmetic mean, (c) Variance, and (d) Inter

> The Citizens Banking Company is studying the number of times the ATM located in a Loblaws Supermarket at the foot of Market Street is used per day. Following are the number of times the machine was used daily over each of the last 30 days. Determine the

> The numbers of outstanding shares for 24 publicly traded companies are listed in the following table. a. Using the number of outstanding shares, summarize the companies with a frequency distribution. b. Display the frequency distribution with a frequen

> The American Society of PeriAnesthesia Nurses (ASPAN; www.aspan.org) is a national organization serving nurses practicing in ambulatory surgery, preanesthesia, and postanesthesia care. The organization consists of the 40 components listed below. Use st

> The Department of Statistics at Western State University offers eight sections of basic statistics. Following are the numbers of students enrolled in these sections: 34, 46, 52, 29, 41, 38, 36, and 28. Calculate the (a) Range, (b) Arithmetic mean, (c) Va

> The information below shows the cost for a year of college in public and private colleges in 2002–03 and 2015–16. What is the geometric mean annual increase for the period for the two types of colleges? Compare the rat

> The monthly issues of the Journal of Finance are available on the Internet. The table below shows the number of times an issue was downloaded over the last 33 months. Suppose that you wish to summarize the number of downloads with a frequency distributio

> A study is made by the recording industry in the United States of the number of music CDs owned by 25 senior citizens and 30 young adults. The information is reported below. a. Find the median and the first and third quartiles for the number of CDs own

> David Wise handles his own investment portfolio, and has done so for many years. Listed below is the holding time (recorded to the nearest whole year) between purchase and sale for his collection of 36 stocks. a. How many classes would you propose? b.

> The top 25 companies (by market capitalization) operating in the Washington, DC, area along with the year they were founded and the number of employees are given below. Make a stem-and-leaf display of each of these variables and write a short description

> The following data give the weekly amounts spent on groceries for a sample of 45 households. a. How many classes would you recommend? b. What class interval would you suggest? c. What would you recommend as the lower limit of the first class? d. Organi

> Owens Orchards sells apples in a large bag by weight. A sample of seven bags contained the following numbers of apples: 23, 19, 26, 17, 21, 24, 22. a. Compute the mean and median number of apples in a bag. b. Verify that Σ(x – x̅) = 0.

> As a part of their customer-service program, United Airlines randomly selected 10 passengers from today’s 9 a.m. Chicago–Tampa flight. Each sampled passenger will be interviewed about airport facilities, service, and so on. To select the sample, each pas

> Doctor’s Care is a walk-in clinic, with locations in Georgetown, Moncks Corner, and Aynor, at which patients may receive treatment for minor injuries, colds, and flu, as well as physical examinations. The following charts report the num

> Based on all student records at Camford University, students spend an average of 5.5 hours per week playing organized sports. The population’s standard deviation is 2.2 hours per week. Based on a sample of 121 students, Healthy Lifestyles Incorporated (H

> Speedy Swift is a package delivery service that serves the greater Atlanta, Georgia, metropolitan area. To maintain customer loyalty, one of Speedy Swift’s performance objectives is on-time delivery. To monitor its performance, each del

> The Medical Assurance Company is investigating the cost of a routine office visit to family-practice physicians in the Rochester, New York, area. The following is a list of 39 family-practice physicians in the region. Physicians are to be randomly select

> Answer the following questions in one or two well-constructed sentences. a. What happens to the standard error of the mean if the sample size is increased? b. What happens to the distribution of the sample means if the sample size is increased? c. When u

> Listed below are the salaries for the 2016 New York Yankees Major League Baseball team. a. Determine the mean, median, and the standard deviation. b. Determine the coefficient of skewness using Pearson’s method. c. Determine the coeff

> The frequency distribution of order lead time of the retailer from Exercise 18 is repeated below. Lead Time (days) __________Frequency 0 up to 5 …………….………………………………. 6 5 up to 10 …………………………………………... 7 10 up to 15 ………………………………………… 12 15 up to 20 ………………………

> The probability a D-Link network server is down is .05. If you have three independent servers, what is the probability that at least one of them is operational?

> Two components, A and B, operate in series. Being in series means that for the system to operate, both components A and B must work. Assume the two components are independent. What is the probability the system works under these conditions? The probabili

> What is the critical F value when the sample size for the numerator is four and the sample size for the denominator is seven? Use a one-tailed test and the .01 significance level.

> You need to estimate the mean number of travel days per year for salespeople. The mean of a small pilot study was 150 days, with a standard deviation of 14 days. If you must estimate the population mean within 2 days, how many salespeople should you samp

> A recent study by the American Automobile Dealers Association surveyed a random sample of 20 dealers. The data revealed a mean amount of profit per car sold was $290, with a standard deviation of $125. Develop a 95% confidence interval for the population

> The American Restaurant Association collected information on the number of meals eaten outside the home per week by young married couples. A survey of 60 couples showed the sample mean number of meals eaten outside the home was 2.76 meals per week, with

> Refer to the North Valley Real Estate data, which report information on homes sold in the area last year. Consider the following variables: selling price, number of bedrooms, township, and mortgage type. a. Which of the variables are qualitative and whic

> The following graph portrays the distribution of the number of spicy chicken sandwiches sold at a nearby Wendy’s for the last 141 days. The mean number of sandwiches sold per day is 91.9 and the standard deviation is 4.67. If we use t

> Use Appendix B.5 to locate the value of t under the following conditions. a. The sample size is 15 and the level of confidence is 95%. b. The sample size is 24 and the level of confidence is 98%. c. The sample size is 12 and the level of confidence is 90

> Refer to the following picture. a. What is the picture called? b. What rule of probability is illustrated? c. B represents the event of choosing a family that receives welfare payments. What does P(B) + P(∼B) equal? B -B

> Listed next are the 27 Nationwide Insurance agents in the El Paso, Texas metropolitan area. The agents are numbered 00 through 26. We would like to estimate the mean number of years employed with Nationwide. a. We want to select a random sample of four

> The first card selected from a standard 52-card deck is a king. a. If it is returned to the deck, what is the probability that a king will be drawn on the second selection? b. If the king is not replaced, what is the probability that a king will be drawn

> List the major characteristics of a normal probability distribution.

> The manufacturer of a laser printer reports the mean number of pages a cartridge will print before it needs replacing is 12,200. The distribution of pages printed per cartridge closely follows the normal probability distribution and the standard deviatio

> For the most recent year available, the mean annual cost to attend a private university in the United States was $42,224. Assume the distribution of annual costs follows the normal probability distribution and the standard deviation is $4,500. Ninety-fiv

> The number of times a particular event occurred in the past is divided by the number of occurrences. What is this approach to probability called?

> Mary Jo Fitzpatrick is the vice president for Nursing Services at St. Luke’s Memorial Hospital. Recently she noticed in the job postings for nurses that those that are unionized seem to offer higher wages. She decided to investigate and

> The SAT Reasoning Test is perhaps the most widely used standardized test for college admissions in the United States. Scores are based on a normal distribution with a mean of 1500 and a standard deviation of 300. Clinton College would like to offer an ho

> A company is creating three new divisions and seven managers are eligible to be appointed head of a division. How many different ways could the three new heads be appointed?

> A telephone number consists of seven digits, the first three representing the exchange. How many different telephone numbers are possible within the 537 exchange?

> A representative of the Environmental Protection Agency (EPA) wants to select samples from 10 landfills. The director has 15 landfills from which she can collect samples. How many different samples are possible?

> Solve the following: a. 20!/17! b. 9P3 c. 7C2

> Wendy’s offers eight different condiments (mustard, catsup, onion, mayonnaise, pickle, lettuce, tomato, and relish) on hamburgers. A store manager collected the following information on the number of condiments ordered and the age group

> The manager of Information Services at Wilkin Investigations, a private investigation firm, is studying the relationship between the age (in months) of a combination printer, copier, and fax machine and its monthly maintenance cost. For a sample of 15 ma

> The personnel files of all eight employees at the Pawnee location of Acme Carpet Cleaners Inc. revealed that during the last 6-month period they lost the following number of days due to illness: All eight employees during the same period at the Chickpe

> A normal distribution has a mean of 80 and a standard deviation of 14. Determine the value above which 80% of the values will occur.

> Among the thirty largest U.S. cities, the mean one-way commute time to work is 25.8 minutes. https://deepblue.lib.umich.edu/bitstream/handle/2027.42/112057/103196.pdf?sequence=1&isAllowed=y. The longest one-way travel time is in New York City, where the

> A normal population has a mean of 80.0 and a standard deviation of 14.0. a. Compute the probability of a value between 75.0 and 90.0. b. Compute the probability of a value of 75.0 or less. c. Compute the probability of a value between 55.0 and 70.0.

> The mean of a normal probability distribution is 400 pounds. The standard deviation is 10 pounds. a. What is the area between 415 pounds and the mean of 400 pounds? b. What is the area between the mean and 395 pounds? c. What is the probability of select

> The following chart summarizes the selling price of homes sold last month in the Sarasota, Florida, area. a. What is the chart called? b. How many homes were sold during the last month? c. What is the class interval? d. About 75% of the houses sold for

> The mean of a normal probability distribution is 60; the standard deviation is 5. a. About what percent of the observations lie between 55 and 65? b. About what percent of the observations lie between 50 and 70? c. About what percent of the observations

> The following box plot shows the number of daily newspapers published in each state and the District of Columbia. Write a brief report summarizing the number published. Be sure to include information on the values of the first and third quartiles, the me

> A large company must hire a new president. The Board of Directors prepares a list of five candidates, all of whom are equally qualified. Two of these candidates are members of a minority group. To avoid bias in the selection of the candidate, the company

> JetBlue Airways is an American low-cost airline headquartered in New York City. Its main base is John F. Kennedy International Airport. JetBlue’s revenue in 2002 was $635.2 million. By 2014, revenue had increased to $5,817.0 million. What was the geometr

> All Seasons Plumbing has two service trucks that frequently need repair. If the probability the first truck is available is .75, the probability the second truck is available is .50, and the probability that both trucks are available is .30, what is the

> In 2001, a total of 40,244,000 taxpayers in the United States filed their individual tax returns electronically. By the year 2015, the number increased to 128,653,000. What is the geometric mean annual increase for the period?

> Suppose P(X1) = .75 and P(Y2 | X1) = .40. What is the joint probability of X1 and Y2?

> A National Park Service survey of visitors to the Rocky Mountain region revealed that 50% visit Yellowstone Park, 40% visit the Tetons, and 35% visit both. a. What is the probability a vacationer will visit at least one of these attractions? b. What is t

> The U.S. Dairy Industry wants to estimate the mean yearly milk consumption. A sample of 16 people reveals the mean yearly consumption to be 45 gallons with a standard deviation of 20 gallons. Assume the population distribution is normal. a. What is the v

> Two coins are tossed. If A is the event “two heads” and B is the event “two tails,” are A and B mutually exclusive? Are they complements?

> Silver Springs Moving and Storage Inc. is studying the relationship between the number of rooms in a move and the number of labor hours required for the move. As part of the analysis, the CFO of Silver Springs developed the following scatter diagram. a