Question: In 2015, the per capita consumption of

> According to the Pew Research Center, 51% of American adults own tablets. Source: Data extracted from pewrsr.ch/2riDGV6. Using the binomial distribution, what is the probability that in the next six American adults surveyed, a. four will own a tablet?

> For a sample of n = 6, list the six Z values.

> The number of cars waiting in line at a car wash is distributed as follows: You can use a table of random numbers (Table E.1) to select samples from this distribution by assigning numbers as follows: 1. Start in the row corresponding to the day of th

> The increase or decrease in the price of a stock between the beginning and the end of a trading day is assumed to be an equally likely random event. What is the probability that a stock will show an increase in its closing price on five consecutive days?

> Determine the mean and standard deviation of the variable X in each of the following binomial distributions: a. n = 4 and π = 0.10 b. n = 4 and π = 0.40 c. n = 5 and π = 0.80 d. n = 3 and π = 0.50

> Determine the following: a. For n = 4 and π = 0.12, what is P(X = 0)? b. For n = 10 and π = 0.40, what is Π(X = 9)? c. For n = 10 and π = 0.50, what is Π(X = 8)? d. For n = 6 and π = 0.83, what is Π(X = 5)?

> A team is being formed that includes four different people. There are four different positions on the teams. How many different ways are there to assign the four people to the four positions?

> You plan to invest $1,000 in a corporate bond fund or in a common stock fund. The following table presents the annual return (per $1,000) of each of these investments under various economic conditions and the probability that each of those economic condi

> You are trying to develop a strategy for investing in two different stocks. The anticipated annual return for a $1,000 investment in each stock under four different economic conditions has the following probability distribution: Compute the a. expect

> Suppose that the owner of the restaurant in Problem 2.91 also wants to study the demand for dessert during the same time period. She decides that in addition to studying whether a dessert was ordered, she will also study the gender of the individual and

> The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years (104 weeks) are as follows: a. Compute the

> The number of arrivals per minute at a bank located in the central business district of a large city was recorded over a period of 200 minutes, with the following results: Arrivals Frequency 0 14 1 31 2 47 3 41 4 29 5 21 6 10 7 5 8 2 a. Compute the e

> In the carnival game Under-or-Over-Seven, a pair of fair dice is rolled once, and the resulting sum determines whether the player wins or loses his or her bet. For example, the player can bet $1 that the sum will be under 7—that is, 2, 3, 4, 5, or 6. For

> Show that for a sample of n = 39, the smallest and largest Z values are -1.96 and +1.96, and the middle (i.e., 20th) Z value is 0.00.

> Recently, a regional automobile dealership sent out fliers to perspective customers indicating that they had already won one of three different prizes: an automobile valued at $25,000, a $100 gas card, or a $5 Walmart shopping card. To claim his or her p

> The following table contains the probability Distribution for the number of traffic accidents daily in a small town: a. Compute the mean number of accidents per day. b. Compute the standard deviation. c. What is the probability that there will be at le

> Toss a coin 10 times and record the number of heads. If each student performs this experiment five times, a frequency distribution of the number of heads can be developed from the results of the entire class. Does this distribution seem to approximate th

> Given the following probability distributions: a. Compute the expected value for each distribution. b. Compute the standard deviation for each distribution. c. What is the probability that x will be at least 3 in Distribution A and Distribution B? d. C

> If there are 10 multiple-choice questions on an exam, each having three possible answers, how many different sequences of answers are there?

> You would like to ”build-your-own-burger” at a fast-food restaurant. There are five different breads, seven different cheeses, four different cold toppings, and five different sauces on the menu. If you want to include one choice from each of these ingre

> The owner of a restaurant that serves Continental-style entrées has the business objective of learning more about the patterns of patron demand during the Friday-to-Sunday weekend time period. Data were collected from 630 customers on the ty

> A municipal bond service has three rating categories (A, B, and C). Suppose that in the past year, of the municipal bonds issued throughout the United States, 70% were rated A, 20% were rated B, and 10% were rated C. Of the municipal bonds rated A, 50% w

> The editor of a textbook publishing company is trying to decide whether to publish a proposed business statistics textbook. Information on previous textbooks published indicates that 10% are huge successes, 20% are modest successes, 40% break-even, and 3

> The 2016 Global Information Security Workforce Study (GISWS) surveyed information security professionals regarding trends and issues affecting their profession and careers. In the study, women were asked about their impact on the security posture of thei

> Olive Construction Company is determining whether it should submit a bid for a new shopping center. In the past, Olive’s main competitor, Base Construction Company, has submitted bids 70% of the time. If Base Construction Company does not bid on a job, t

> Many manufacturing problems involve the matching of machine parts, such as shafts that fit into a valve hole. A particular design requires a shaft with a diameter of 22.000 mm, but shafts with diameters between 21.990 mm and 22.010 mm are acceptable. Sup

> Big Commerce launched a study to analyze modern, omnichannel consumer behavior. The data uncovers the details on how, when, where, and why Americans buy, educating the entire commerce industry on today’s consumer shopping preferences. Findings indicate t

> In Example 4.10, suppose that the probability that a medical diagnostic test will give a positive result if the disease is not present is reduced from 0.02 to 0.01. a. If the medical diagnostic test has given a positive result ( indicating that the dise

> If P(B) = 0.30, P(A|B) = 0.60, P(B’) = 0.70, and P(A|B’) = 0.50, find P(B|A).

> If P(B) = 0.05, P(A|B) = 0.80, P(B’) = 0.95, and P(A|B’) = 0.40, find P(B|A).

> The table of random numbers is an example of a uniform distribution because each digit is equally likely to occur. Starting in the row corresponding to the day of the month in which you were born, use a table of random numbers (Table E.1) to take one dig

> B2B marketers in North America were surveyed about content marketing usage, organization, and success. Content marketers were asked about how content marketing is structured within their organization and how they would describe their organizationâ&

> A box of nine iPhone 7 cellphones contains two red cellphones and seven black cellphones. a. If two cellphones are randomly selected from the box, without replacement (the first cellphone is not returned to the box after it is selected), what is the pro

> A particular brand of women’s jeans is available in seven different sizes, three different colors, and three different styles. How many different women’s jeans does the store manager need to order to have one pair of each type?

> A standard deck of cards is being used to play a game. There are four suits (hearts, diamonds, clubs, and spades), each having 13 faces (ace, 2, 3, 4, 5, 6, 7, 8, 9, 10, jack, queen, and king), making a total of 52 cards. This complete deck is thoroughly

> In 42 of the 66 years from 1950 through 2016 (in 2011 there was virtually no change), the S&P 500 finished higher after the first five days of trading. In 37 out of 42 years, the S&P 500 finished higher for the year. Is a good first week a good o

> Each year, ratings are compiled concerning the performance of new cars during the first 90 days of use. Suppose that the cars have been categorized according to whether a car needs warranty-related repair (yes or no) and the country in which the company

> Consider the following contingency table: What is the probability of event a. A? b. A? c. A and B? d. A or B? B B' A 10 20 A' 20 40

> A survey of 1,520 Americans adults asked “Do you feel overloaded with too much information?” The results indicated that of 785 males, 134 answered yes. Of 735 females, 170 answered yes. Source: Data extracted from “Information Overload,” pewrsr.ch/2h2OS

> Have the gains in student learning attributed to education technology justified colleges’ spending in this area? As part of Inside Higher Ed’s 2016 Survey of Faculty Attitudes on Technology, professors, and technology

> Do Generation X and Boomers differ in how they use credit cards? A sample of 1,000 Generation X and 1,000 Boomers revealed the following results: a. If a respondent selected is a member of Generation X, what is the probability that he or she pays the

> How will marketers change their social media use in the near future? A survey by Social Media Examiner of B2B marketers (marketers that focus primarily on attracting businesses) and B2C marketers (marketers that primarily target consumers) was based on 1

> The stock market in Canada reported strong returns in 2016. The population of stocks earned a mean return of 17.5% in 2016. Source: Data extracted from The Wall Street Journal, December 31, 2016–Janaury 1, 2017, p. B6. Assume that the returns for stocks

> Do Millennials or Gen-Xers feel more tense or stressed out at work? A survey of employed adults conducted online by Harris Interactive on behalf of the American Psychological Association revealed the following: Source: Data extracted from â€

> If P(A) = 0.3, P(B) = 0.4, and P(A and B) = 0.2, are A and B independent?

> The article mentioned in Problem 7.30 reported that the stock market in Germany had a mean return of 6.9% in 2016. Assume that the returns for stocks on the German stock market were distributed normally, with a mean of 6.9 and a standard deviation of 10.

> a. If a coin is tossed seven times, how many different outcomes are possible? b. If a die is tossed seven times, how many different outcomes are possible? c. Discuss the differences in your answers to (a) and (b).

> If P(A) = 0.7, P(B) = 0.6, and A and B are independent, find P(A and B).

> If P(A and B) = 0.4 and P(B) = 0.8, find P(AB).

> Consider the following contingency table: What is the probability of a. AB? b. A= B=? c. AB=? d. Are events A and B independent? B B' A 10 30 A' 25 35

> Consider the following contingency table: What is the probability of a. A | B? b. A | B’? c. A’ | B’? d. Are events A and B independent? B B' A 10 20 A' 20 40

> Each year, ratings are compiled concerning the performance of new cars during the first 90 days of use. Suppose that the cars have been categorized according to whether a car needs a warranty-related repair (yes or no) and the country in which the compan

> The following table represents the market share (in number of movies, gross in millions of dollars, and millions of tickets sold) of each type of movie in 2016: a. Construct a bar chart, a pie chart, a doughnut chart, and a Pareto chart for the number

> According to a report by App Annie, a business intelligence company that produces tools and reports for the apps and digital goods industry, smartphone owners are using an average of 30 apps per month. Source: “Report: Smartphone owners are using 9 apps

> The following table shown in the file TextbookCosts shows the breakdown of the costs of a typical college textbook. a. Using the categories of publisher, bookstore, and author, construct a bar chart, a pie chart, and a Pareto chart. b. Using the subcat

> What is the difference between a time-series plot and sparklines?

> What is the difference between a drill-down and a slicer?

> What type of insights can you gain from a contingency table that contains three variables that you cannot gain from a contingency table that contains two variables?

> How can a multidimensional table differ from a two-variable contingency table?

> What are the three different ways to break down the percentages in a contingency table?

> Why is it said that the main feature of a Pareto chart is its ability to separate the “vital few” from the “trivial many”?

> A survey of 1,520 Americans adults asked, “Do you feel overloaded with too much information?” The results indicated that of 785 males, 134 answered yes. Of 735 females, 170 answered yes. Source: Data extracted from “Information Overload,” pewrsr.ch/2h2OS

> What is the difference between a time-series plot and a scatter plot?

> For each of the following three populations, indicate what the sampling distribution for samples of 25 would consist of: a. Customer receipts for a supermarket for a year. b. Insurance payouts in a particular geographical area in a year. c. Call cente

> A set of final examination grades in an introductory statistics course is normally distributed, with a mean of 73 and a standard deviation of 8. a. What is the probability that a student scored below 91 on this exam? b. What is the probability that a s

> The file DomesticBeer contains the percentage alcohol, number of calories per 12 ounces, and number of carbohydrates (in grams) per 12 ounces for 158 of the best-selling domestic beers in the United States. Source: Data extracted from bit.ly/1A4E6AF, De

> You are planning to study for your statistics examination with a group of classmates, one of whom you particularly want to impress. This individual has volunteered to use Microsoft Excel to generate the needed summary information, tables, and charts for

> The U.S. Census Bureau announced that the median sales price of new houses sold in 2016 was $316,500, and the mean sales price was $370,800 Source: www.census.gov/newhomesales, April 1, 2017. Assume that the standard deviation of the prices is $90,000.

> How do the mean credit scores of people living in various American cities differ? The file Credit Scores is an ordered array of the average credit scores of people living in 2,570 American cities. Source: Data extracted from “Study shows cities with high

> How much time do commuters living in or near cities spend commuting to work each week? The file CommutingTime contains the average weekly commuting time in 30 U.S. cities. Source: Data extracted from New York City Economics Brief, March 2015, p. 3. For t

> 311 is Chicago’s web and phone portal for government information and nonemergency services. 311 serves as a comprehensive one-stop shop for residents, visitors, and business owners; therefore, it is critical that 311 representatives answer calls and resp

> Have you wondered how Internet connection speed varies around the globe? The file ConnectionSpeed contains the mean connection speed, the mean peak connection speed, the % of the time the speed is above 4 Mbs, and the % of the time the connection speed i

> Do Generation X and Boomers differ in how they use credit cards? A sample of 1,000 Generation X and 1,000 Boomers revealed the following results: Source: Data extracted from “C. Jones, “Gen X, Boomers see Credit Card

> The file Property Taxes contains the property taxes on a $176K home and the median home value ($000) for the 50 states and the District of Columbia. For each of these two variables: a. Compute the mean, median, first quartile, and third quartile. b. Co

> What was the mean price of a room at two-star, three-star, and four-star hotels in the major cities of the world during 2016? The file HotelPrices contains the prices in Canadian dollars (about US $0.75 as of December 2016). Source: Data extracted from “

> The file Protein contains calories, protein, and cholesterol of popular protein foods (fresh red meats, poultry, and fish). Source: U.S. Department of Agriculture. a. Compute the correlation coefficient between calories and protein. b. Compute the corr

> Millennials spent an average of $103 on monthly dining in 2016. Source: Data extracted from Consumer Response Annual Report,available at bit.ly/2x4CN5w. Assume that the amount spent on a monthly dining is normally distributed and that the standard devia

> Referring to the contingency table in Problem 4.8, if an employed adult is selected at random, what is the probability that a. the employed adult felt tense or stressed out at work? b. the employed adult was a millennial who felt tense or stressed out at

> The file Restaurants contains the cost per meal and the ratings of 50 center city and 50 metro area restaurants on their food, décor, and service (and their summated ratings). Source: Data extracted from Zagat Survey 2016 New York City Restaurants. Compl

> The manufacturer of Boston and Vermont asphalt shingles provides its customers with a 20-year warranty on most of its products. To determine whether a shingle will last as long as the warranty Chapter Review Problems 157 period, accelerated-life testing

> A quality characteristic of interest for a tea-bag-filling process is the weight of the tea in the individual bags. If the bags are underfilled, two problems arise. First, customers may not be able to brew the tea to be as strong as they wish. Second, th

> The diameter of a brand of tennis balls is approximately normally distributed, with a mean of 2.63 inches and a standard deviation of 0.03 inch. If you select a random sample of nine tennis balls, a. what is the sampling distribution of the mean? b. wh

> Data were collected on the typical cost of dining at Americancuisine restaurants within a 1-mile walking distance of a hotel located in a large city. The file Bundle contains the typical cost (a per transaction cost in $) as well as a Bundle score, a mea

> Have the gains in student learning attributed to education technology justified colleges’ spending in this area? As part of Inside Higher Ed’s 2016 Survey of Faculty Attitudes on Technology, academic professionals, pro

> The financial services call center in Problem 3.66 also monitors call duration, which is the amount of time spent speaking to customers on the phone. The file CallDuration contains the following data for time, in seconds, spent by agents talking to 50 cu

> The CMO Survey collects and disseminates the opinions of top marketers in order to predict the future of markets, track marketing excellence, and improve the value of marketing in firms and in society. Part of the survey is devoted to the topic of market

> Content Marketing Institute provides insights on the content marketing habits of nonprofit professionals representing a broad range of nonprofit agencies and organizations. A survey of nonprofit marketers conducted by the Content Marketing Institute indi

> To better understand the website builder market, Clutch surveyed individuals who created a website using a do-it-yourself (DIY) website builder. Respondents, categorized by the type of website they built—business or personal, were asked

> Toby’s Trucking Company determined that the distance traveled per truck per year is normally distributed, with a mean of 50 thousand miles and a standard deviation of 12 thousand miles. a. What proportion of trucks can be expected to travel between 34 an

> Chartered Institute of Personnel and Development (CIPD) provides commentary and insight about the trends and challenges facing the HR profession in its HR Outlook Report. The report represents the results of an online survey conducted in 2016 with HR pro

> Do Millennials or Gen-Xers feel more tense or stressed out at work? A survey of employed adults conducted online by Harris Interactive on behalf of the American Psychological Association revealed the following: Source: Data extracted from â€

> A survey by Accenture indicated that 64% of millennials as compared to 28% of baby boomers prefer “hybrid” investment advice—a combination of traditional advisory services and low-cost digital tools—over either a dedicated human advisor or conventional r

> What is the difference between a permutation and a combination?

> What is the difference between Counting Rule 1 and Counting Rule 2?

> Referring to the contingency table in Problem 4.10, if a marketer is selected at random, what is the probability that a. he or she plans to increase use of LinkedIn? b. he or she is a B2C marketer? c. he or she plans to increase use of LinkedIn or is a B

> In Bayes’ theorem, how does the prior probability differ from the revised probability?

> The weight of an energy bar is approximately normally distributed with a mean of 42.05 grams with a standard deviation of 0.025 gram. a. What is the probability that an individual energy bar contains less than 42.035 grams? b. If a sample of 4 energy b

> How can you use Bayes’ theorem in light of new information?

> How does the multiplication rule differ for events that are and are not independent?

> How does conditional probability relate to the concept of independence?