Question: Cooper Realty is a small real estate

> Each year America.EDU ranks the best paying college degrees in America. The following data show the median starting salary, the mid-career salary, and the percentage increase from starting salary to mid-career salary for the 20 college degrees with the h

> The file EngineeringSalary contains the median starting salary and median mid-career salary (measured 10 years after graduation) for graduates from 19 engineering schools (The Wall Street Journal). Develop a stem-and-leaf display for both the median star

> Do you dislike waiting in line? Supermarket chain Kroger has used computer simulation and information technology to reduce the average waiting time for customers at 2300 stores. Using a new system called Que-Vision, which allows Kroger to better predict

> The website for the Bed and Breakfast Inns of North America gets approximately seven visitors per minute. Suppose the number of website visitors per minute follows a Poisson probability distribution. a. What is the mean time between visits to the website

> The mean time between failures (MTBF) is a common metric used to measure the performance of manufacturing systems. MTBF is the elapsed time between failures of a system during normal operations. The failures could be caused by broken machines or computer

> The following data show the year to date percent change (YTD % Change) for 30 stock-market indexes from around the world (The Wall Street Journal). a. What index has the largest positive YTD % Change? b. Using a class width of 5 beginning with â&

> A blackjack player at a Las Vegas casino learned that the house will provide a free room if play is for four hours at an average bet of $50. The player’s strategy provides a probability of .49 of winning on any one hand, and the player knows that there a

> Consider a multiple-choice examination with 50 questions. Each question has four possible answers. Assume that a student who has done the homework and attended lectures has probability .75 of answering any question correctly. a. A student must answer 43

> A machine fills containers with a particular product. The standard deviation of filling weights is known from past data to be .6 ounce. If only 2% of the containers hold less than 18 ounces, what is the mean filling weight for the machine? That is, what

> According to the National Association of Colleges and Employers, the 2015 mean starting salary for new college graduates in health sciences was $51,541. The mean 2015 starting salary for new college graduates in business was $53,901 (National Association

> Assume that the test scores from a college admissions test are normally distributed, with a mean of 450 and a standard deviation of 100. a. What percentage of the people taking the test score between 400 and 500? b. Suppose someone receives a score of 63

> According to U.S. News & World Reports, 7 of the top 10 graduate schools of business have students with an average undergraduate grade point average (GPA) of 3.50 or higher. Suppose that we randomly select 2 of the top 10 graduate schools of business. a.

> A deck of playing cards contains 52 cards, four of which are aces. What is the probability that the deal of a five-card poker hand provides a. A pair of aces? b. Exactly one ace? c. No aces? d. At least one ace?

> Customer arrivals at a bank are random and independent; the probability of an arrival in any one-minute period is the same as the probability of an arrival in any other one-minute period. Answer the following questions, assuming a mean arrival rate of th

> A regional director responsible for business development in the state of Pennsylvania is concerned about the number of small business failures. If the mean number of small business failures per month is 10, what is the probability that exactly 4 small bu

> A new automated production process averages 1.5 breakdowns per day. Because of the cost associated with a breakdown, management is concerned about the possibility of having three or more breakdowns during a day. Assume that breakdowns occur randomly, tha

> Entrepreneur magazine ranks franchises using performance measures such as growth rate, number of locations, startup costs, and financial stability. The number of locations for 20 U.S. franchises follows (The World Almanac). Use classes 0â€&#

> Foot Locker uses sales per square foot as a measure of store productivity. Sales are currently running at an annual rate of $406 per square foot. You have been asked by management to conduct a study of a sample of 64 Foot Locker stores. Assume the standa

> Cars arrive at a car wash randomly and independently; the probability of an arrival is the same for any two time intervals of equal length. The mean arrival rate is 15 cars per hour. What is the probability that 20 or more cars will arrive during any giv

> Mahoney Custom Home Builders, Inc. of Canyon Lake, Texas, asked visitors to their website what is most important when choosing a home builder. Possible responses were quality, price, customer referral, years in business, and special features. Results sho

> PBS News Hour reported in 2014 that 39.4% of Americans between the ages of 25 and 64 have at least a two-year college degree (PBS website). Assume that 50 Americans between the ages of 25 and 64 are selected randomly. a. What is the expected number of pe

> 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 shipped from suppliers in large lots. Inspection of a sa

> 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). Age Range ……………….. Percent of Individuals Invested in Stock Market 18

> 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-line phone 28% (USA Today website). a. If 20 adult Intern

> 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 Fund composed of global stocks with good dividend yie

> A bookstore at the Hartsfield-Jackson Airport in Atlanta sells reading materials (paper-back books, newspapers, magazines) as well as snacks (peanuts, pretzels, candy, etc.). A point-of-sale terminal collects a variety of information about customer purch

> The Car Repair Ratings website provides consumer reviews and ratings for garages in the United States and Canada. The time customers wait for service to be completed is one of the categories rated. The following table provides a summary of the wait-time

> The U.S. Coast Guard (USCG) provides a wide variety of information on boating accidents including the wind condition at the time of the accident. The following table shows the results obtained for 4401 accidents (USCG website, http://www.uscgboating.org/

> University endowments are financial assets that are donated by supporters to be used to provide income to universities. There is a large discrepancy in the size of university endowments. The following table provides a listing of many of the universities

> The Panama Railroad Company was established in 1850 to construct a railroad across the isthmus that would allow fast and easy access between the Atlantic and Pacific Oceans. The following table provides annual returns for Panama Railroad stock from 1853

> Automobiles traveling on a road with a posted speed limit of 55 miles per hour are checked for speed by a state police radar system. Following is a frequency distribution of speeds. Speed (miles per hour) ……………………………. Frequency 45–49 …………………………………………………

> The days to maturity for a sample of five money market funds are shown here. The dollar amounts invested in the funds are provided. Use the weighted mean to determine the mean number of days to maturity for dollars invested in these five money market fun

> Does a major league baseball team’s record during spring training indicate how the team will play during the regular season? Over a six-year period, the correlation coefficient between a team’s winning percentage in sp

> In 2014, the 32 teams in the National Football League (NFL) were worth, on average, $1.17 billion, 5% more than in 2013. The following data show the annual revenue ($ millions) and the estimated team value ($ millions) for the 32 NFL teams in 2014 (Forbe

> Travel + Leisure magazine provides an annual list of the 500 best hotels in the world. The magazine provides a rating for each hotel along with a brief description that includes the size of the hotel, amenities, and the cost per night for a double room.

> The data contained in the file FoodIndustry show the company/chain name, the average sales per store ($1000s), and the food segment industry for 47 restaurant chains (Quick Service Restaurant Magazine website). a. What was the mean U.S. sales per store f

> The following data represent a sample of 14 household incomes ($1000s). Answer the following questions based on this sample. a. What is the median household income for these sample data? b. According to a previous survey, the median annual household in

> Public transportation and the automobile are two methods an employee can use to get to work each day. Samples of times recorded for each method are shown. Times are in minutes. a. Compute the sample mean time to get to work for each method. b. Compute

> Smartphones have become ubiquitous for most people and have become the predominant means of communication among people. Consider the following data indicating the number of minutes in a month spent interacting with others via a smartphone for a sample of

> The London School of Economics and the Harvard Business School have conducted studies of how chief executive officers (CEOs) spend their time. These studies have found that CEOs spend many hours per week in meetings that include conference calls, busines

> U.S. companies lose $63.2 billion per year from workers with insomnia. Accordign to a 2013 article in the Wall Street Journal, workers lose an average of 7.8 days of productivity per year due to lack of sleep. The following data show the number of hours

> The average waiting time for a patient at an El Paso physician’s office is just over 29 minutes, well above the national average of 21 minutes. In order to address the issue of long patient wait times, some physician’s offices are using wait tracking sys

> A 2017 USA Today article reports that NCAA football coaches’ salaries have continued to increase in recent years (USA Today). The annual base salaries for the previous head football coach and the new head football coach at 23 schools are given in the fil

> Americans tend to dine out multiple times per week. The number of times a sample of 20 families dined out last week provides the following data. a. Compute the mean and median. b. Compute the first and third quartiles. c. Compute the range and interqua

> 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 respective probabilities are assigned: .3, .2, .25, .05

> 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 considered to be spam) through application of Bayes’ theor

> 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 a. What is the probability of finding oil? b. After 200 f

> 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 who do not study abroad are female. a. Given a female un

> 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 believes that a special safety program will reduce such acc

> Based on the total passenger traffic, the airports in the following list are the 20 busiest airports in North America in 2018 (The World Almanac). a. Which is busiest airport in terms of total passenger traffic? Which is the least busy airport in terms

> A large consumer goods company ran a television advertisement for one of its soap products. On the basis of a survey that was conducted, probabilities were assigned to the following events. B = individual purchased the product S = individual recalls seei

> The Pew Internet & American Life project conducted a survey that included several questions about how Internet users feel about search engines and other websites collecting information about them and using this information either to shape search resu

> Refer again to the data from the MBA new-matriculants survey in exercise 52. a. Given that a person applied to more than one school, what is the probability that the person is 24–26 years old? b. Given that a person is in the 36-and-ove

> An MBA new-matriculants survey provided the following data for 2018 students. a. For a randomly selected MBA student, prepare a joint probability table for the experiment consisting of observing the student’s age and whether the stude

> The U.S. Census Bureau serves as the leading source of quantitative data about the nation’s people and economy. The following crosstabulation shows the number of households (1000s) and the household income by the highest level of educat

> A survey to determine viewer response to a new television show obtained the following data. Rating ………….. Frequency Poor …………………………. 4 Below average ……………. 8 Average …………………… 11 Above average …………. 14 Excellent …………………. 13 a. What is the probability th

> A study of 31,000 hospital admissions in New York State found that 4% of the admissions led to treatment-caused injuries. One-seventh of these treatment-caused injuries resulted in death, and one-fourth were caused by negligence. Malpractice claims were

> Below are the results of a survey of 1364 individuals who were asked if they use social media and other websites to voice their opinions about television programs. a. What is the probability a respondent is female? b. What is the conditional probabilit

> A financial manager made two new investments— one in the oil industry and one in municipal bonds. After a one-year period, each of the investments will be classified as either successful or unsuccessful. Consider the making of the two investments as a ra

> A USA Today survey of adults aged 18 and older conducted by Princess Cruises asked how many days into your vacation does it take until you feel truly relaxed. The responses were as follows: 422—a day or less; 181—2 days; 80—3 days; 121—4 or more days; an

> CBSSports.com developed the Total Player Ratings system to rate players in the National Basketball Association (NBA) based upon various offensive and defensive statistics. The following data show the average number of points scored per game (PPG) for 50

> The XO Group Inc. conducted a 2015 survey of 13,000 brides and grooms married in the United States and found that the average cost of a wedding is $29,858 (XO Group website). Assume that the cost of a wedding is normally distributed with a mean of $29,85

> Ward Doering Auto Sales is considering offering a special service contract that will cover the total cost of any service work required on leased vehicles. From experience, the company manager estimates that yearly service costs are approximately normally

> Alexa is the popular virtual assistant developed by Amazon. Alexa interacts with users using artificial intelligence and voice recognition. It can be used to perform daily tasks such as making to-do lists, reporting the news and weather, and interacting

> One indicator of the level of economic hardship is the number of people who bring items to a pawnbroker. Assume that the number of people bringing items to a pawnshop per day in is normally distributed with a mean of 658. a. Suppose you learn that on 3%

> Motorola used the normal distribution to determine the probability of defects and the number of defects expected in a production process. Assume a production process produces items with a mean weight of 10 ounces. Calculate the probability of a defect

> The NCAA estimates that the yearly value of a full athletic scholarship at in-state public universities is $19,000. Assume the scholarship value is normally distributed with a standard deviation of $2100. a. For the 10% of athletic scholarships of least

> A business executive, transferred from Chicago to Atlanta, needs to sell her house in Chicago quickly. The executive’s employer has offered to buy the house for $210,000, but the offer expires at the end of the week. The executive does not currently have

> A zoo has categorized its visitors into three categories: member, school, and general. The member category refers to visitors who pay an annual fee to support the zoo. Members receive certain benefits such as discounts on merchandise and trips planned by

> Electric plug-in vehicle sales have been increasing worldwide. The table below displays data collected by the U.S. Department of Energy on electric plug-in vehicle sales in the words top markets in 2013 and 2015. (Data compiled by Argonne National Labora

> Refer to the data set in Table 2.18. a. Prepare a scatter diagram to show the relationship between Tuition & Fees and % Graduate. b. Comment on any relationship between the variables. Table 2.18:

> A doctor’s office staff studied the waiting times for patients who arrive at the office with a request for emergency service. The following data with waiting times in minutes were collected over a one-month period. Use classes of 0&ac

> Refer to the data set in Table 2.18. a. Construct a scatter diagram to show the relationship between Year Founded and Tuition & Fees. b. Comment on any relationship between the variables. Table 2.18:

> Refer to the data set in Table 2.18. a. Construct a crosstabulation with Year Founded as the row variable and % Graduate as the column variable. Use classes starting with 1600 and ending with 2000 in increments of 50 for Year Founded. For % Graduate, use

> Table 2.18 shows a portion of the data for a sample of 103 private colleges and universities. The complete data set is contained in the file Colleges. The data include the name of the college or university, the year the institution was founded, the tuiti

> Fortune magazine publishes an annual survey of the 100 best companies to work for. The data in the file FortuneBest100 shows the rank, company name, the size of the company, and the percentage job growth for full-time employees for 98 of the Fortune 100

> Western University has only one women’s softball scholarship remaining for the coming year. The final two players that Western is considering are Allison Fealey and Emily Janson. The coaching staff has concluded that the speed and defen

> The U.S. Census Bureau serves as the leading source of quantitative data about the nation’s people and economy. The following crosstabulation shows the number of households (1000s) and the household income by the level of education for

> The term “beta” refers to a measure of a stock’s price volatility relative to the stock market as a whole. A beta of 1 means the stock’s price moves exactly with the market. A beta o

> Consumer complaints are frequently reported to the Better Business Bureau (BBB). Some industries against whom the most complaints are reported to the BBB are banks; cable and satellite television companies; collection agencies; cellular phone providers;

> According to the Wall Street Journal, a startup company’s ability to gain funding is a key to success. The funds raised (in millions of dollars) by 50 startup companies appear below. a. Construct a stem-and-leaf display. b. Comment on

> Data showing the population by state in millions of people follow (The World Almanac). a. Develop a frequency distribution, a percent frequency distribution, and a histogram. Use a class width of 2.5 million. b. Does there appear to be any skewness in

> Construct a stem-and-leaf display for the following data. Use a leaf unit of 10.

> The file MedianHousehold contains the median household income for a family with two earners for each of the fifty states (American Community Survey). a. Construct a frequency and a percent frequency distribution of median household income. Begin the firs

> The SAT is a standardized test used by many colleges and universities in their admission decisions. More than one million high school students take the SAT each year. The current version of the SAT includes three parts: reading comprehension, mathematics

> Consumer Reports evaluates products for consumers. The file CompactSUV contains the data shown in Table 1.8 for 15 compact sports utility vehicles (SUVs) from the 2018 model line (Consumer Reports website): Make—manufacturer Model&acirc

> A sample of midterm grades for five students showed the following results: 72, 65, 82, 90, 76. Which of the following statements are correct, and which should be challenged as being too generalized? a. The average midterm grade for the sample of five stu

> Pew Research Center is a nonpartisan polling organization that provides information about issues, attitudes, and trends shaping America. In a poll, Pew researchers found that 73% of teens aged 13–17 have a smartphone, 15% have a basic phone and 12% have

> A survey conducted by Better Homes and Gardens Real Estate LLC showed that one in five U.S. homeowners has either moved from their home or would like to move because their neighborhood or community isn’t ideal for their lifestyle (Better Homes and Garden

> A seven-year medical research study reported that women whose mothers took the drug diethylstilbestrol (DES) during pregnancy were twice as likely to develop tissue abnormalities that might lead to cancer as were women whose mothers did not take the drug

> A survey of 131 investment managers in Barron’s Big Money poll revealed the following: ● 43% of managers classified themselves as bullish or very bullish on the stock market. ● The average expected return over the next 12 months for equities was 11.2%. ●

> A Bloomberg Businessweek North American subscriber study collected data from a sample of 2861 subscribers. Fifty-nine percent of the respondents indicated an annual income of $75,000 or more, and 50% reported having an American Express credit card. a. Wh

> A random telephone survey of 1021 adults (aged 18 and older) was conducted by Opinion Research Corporation on behalf of CompleteTax, an online tax preparation and e-filing service. The survey results showed that 684 of those surveyed planned to file thei

> Construct a stem-and-leaf display for the following data.

> A manager of a large corporation recommends a $10,000 raise be given to keep a valued subordinate from moving to another company. What internal and external sources of data might be used to decide whether such a salary increase is appropriate?

> Skechers U.S.A., Inc., is a performance footwear company headquartered in Manhattan Beach, California. The sales revenue for Skechers over a four-year period are as follows: a. Are these cross-sectional or time-series data? b. Construct a bar graph simil

> The U.S. Census Bureau tracks sales per month for various products and services through its Monthly Retail Trade Survey. Figure 1.9 shows monthly jewelry sales in millions of dollars for 2016. a. Are the data quantitative or categorical? b. Are the data

> The following data show the number of rental cars in service (in thousands) for three rental car companies: Hertz, Avis, and Dollar over a three-year period (Auto Rental News website). a. Construct a time series graph for the years 2007 to 2010 showing

> Figure 1.8 provides a bar chart showing the annual advertising revenue for Facebook from 2010 to 2017 (Facebook Annual Reports). a. What is the variable of interest? b. Are the data categorical or quantitative? c. Are the data time series or cross-sectio

> The Hawaii Visitors Bureau collects data on visitors to Hawaii. The following questions were among 16 asked in a questionnaire handed out to passengers during incoming airline flights. ● This trip to Hawaii is my: 1st, 2nd, 3rd, 4th, etc. ● The primary r