Question: Last year the world generated almost 2.

> Refer to Exercise 7.20. If the pizzeria makes a profit of $3 per pizza, determine the mean and variance of the profits per student. Data from Exercise 7.20: The number of pizzas delivered to university students each month is a random variable with the fo

> The number of wins, team payrolls, home attendance, and away attendance were recorded for the 2015–2016 National Basketball Association season. a. Conduct an analysis to determine the marginal cost of winning one more game. b. Analyze the relationship be

> Repeat Exercise 4.102 for the 2012 baseball season. Data from Exercise 4.102: The practitioner also recorded the average away attendance for each team in the 2015 season. Since visiting teams take a share of the gate, owners should be interested in this

> Repeat Exercise 4.101 for the 2012 baseball season. Data from Exercise 4.101: The chapter-opening example showed that there is a very weak linear relationship between a baseball teams’ payroll and the number of wins. This raises the question: Are success

> Refer to Exercise 4.101. The practitioner also recorded the average away attendance for each team in the 2015 season. Since visiting teams take a share of the gate, owners should be interested in this analysis. a. Are visiting team attendance related to

> The chapter-opening example showed that there is a very weak linear relationship between a baseball teams’ payroll and the number of wins. This raises the question: Are success on the field and attendance related? If the answer is no, then profit-driven

> The U.S.–Canada exchange rate has fluctuated over the past 45 years. Can any single commodity explain these fluctuations? Is it oil, for example? Canada sells a lot of oil to the United States. It may be lumber or gold. A statistician set out to investig

> Suppose your statistics professor distributes a questionnaire about the course. One of the questions asks, “Would you recommend this course to a friend?” Can the professor use the results to infer something about all statistics courses? Explain.

> Briefly describe the difference between observational and experimental data.

> An investment you made 5 years ago has realized the following rates of return. a. Compute the mean and median of the rates of return. b. Compute the geometric mean. c. Which one of the three statistics computed in parts (a) and (b) best describes the re

> The following returns were realized on an investment over a 5-year period. a. Compute the mean and median of the returns. b. Compute the geometric mean. c. Which one of the three statistics computed in parts (a) and (b) best describes the return over th

> The number of pizzas delivered to university students each month is a random variable with the following probability distribution. a. Find the probability that a student has received delivery of two or more pizzas this month. b. Determine the mean and v

> What is the geometric mean of the following rates of return? .50 .30 −.50 −.25

> Compute the geometric mean of the following rates of return. .25 −.10 .50

> The professors at Wilfrid Laurier University are required to submit their final exams to the registrar’s office 10 days before the end of the semester. The exam coordinator sampled 20 professors and recorded the number of days before th

> The midterm test for a statistics course has a time limit of 1 hour. However, like most statistics exams this one was quite easy. To assess how easy, the professor recorded the amount of time taken by a sample of nine students to hand in their test paper

> A random sample of 12 joggers was asked to keep track and report the number of miles they ran last week. The responses are a. Compute the three statistics that measure central location. b. Briefly describe what each statistic tells you. 5.5 7.2 1.6

> The number of sick days due to colds and flu last year was recorded by a sample of 15 adults. The data are Compute the mean, median, and mode. 6 5 9 2 0 12 7 0 3 15 3 8 10 5

> The number of copies made by an office copier was recorded for each of the past 75 days. Graph the data using a suitable technique. Describe what the graph tells you.

> A random sample of households was surveyed. Each was asked how old their refrigerators were (in months). a. Compute the mean and median of these data. b. What have you learned about this data set from the statistics?

> In an effort to slow drivers, traffic engineers painted a solid line 3 feet from the curb over the entire length of a road and filled the space with diagonal lines. The lines made the road look narrower. A sample of car speeds was taken after the lines w

> In the United States, banks and financial institutions often require buyers to pay fees in order to arrange mortgages. In a survey conducted by the U.S. Federal Housing Finance Board, 400 buyers of new houses who received a mortgage from a bank were aske

> We are given the following probability distribution. a. Calculate the mean, variance, and standard deviation. b. Suppose that Y = 3X + 2. For each value of X, determine the value of Y . What is the probability distribution of Y ? c. Calculate the mean,

> According to a recent National Household Survey (NHS), roughly 15.4 million Canadians commuted to work. Overall, about four out of five Canadian commuters used private vehicles. Specifically, 74.0% of commuters, or 11.4 million workers, drove a vehicle t

> The amount of time spent commuting by residents of Washington D.C. was recorded for a sample of 235 commuters. a. Compute the mean and median. b. What do the mean and median tell you about this data set?

> The starting salaries of a sample of 300 recent Bachelor of Business Administration graduates were recorded. Calculate the mean and median. Interpret the meaning of each statistic.

> An auction house conducts an auction once every week listing items such as jewelry, furniture, art, coins, and many others. The number of bidders from each of the auctions over the last 3 years was recorded. Determine the mean and median of the weekly nu

> Suppose that you bought a stock 6 years ago at $12 . The stock’s price at the end of each year is shown here. a. Compute the rate of return for each year. b. Compute the mean and median of the rates of return. c. Compute the geometric

> An investment of $1,000 you made 4 years ago was worth $1,200 after the first year, $1,200 after the second year, $1,500 after the third year, and $2,000 today. a. Compute the annual rates of return. b. Compute the mean and median of the rates of return.

> A sample of 12 people was asked how much change they had in their pockets and wallets. The responses (in cents) are Determine the mean, median, and mode for these data. 52 25 15 0 104 44 60 30 33 81 40

> The total light beer sales in the United States is approximately 3 million gallons annually. With this large a market, breweries often need to know more about who is buying their product. The marketing manager of a major brewery wanted to analyze the lig

> An increasing number of statistics courses use a computer and software rather than manual calculations. A survey of statistics instructors asked each to report the software his or her course uses. The responses are as follows: 1. Excel 2. Minitab 3. SAS

> Many business and economics courses require the use of computer, so students often must buy their own computers. A survey asks students to identify which computer brand they have purchased. The responses are as follows: 1. HP 2. Lenovo 3. Dell 4. Other a

> The random variable X has the following distribution. a. Find the mean and variance for the probability distribution below. b. Determine the probability distribution of Y where Y = 5X. c. Use the probability distribution in part (b) to compute the mean

> Who applies to MBA programs? To help determine the background of the applicants, a sample of 230 applicants to a university’s business school was asked to report their undergraduate degree. The degrees were recorded using these codes. 1. BA 2. BBA 3. B.E

> For each of the following examples of data, determine the type. a. The weekly closing price of the stock of Amazon.com b. The month of highest vacancy rate at a La Quinta motel c. The size of soft drink (small, medium, or large) ordered by a sample of Mc

> Subway train riders frequently pass the time by reading a newspaper. New York City has a subway and four newspapers. A sample of 360 subway riders who regularly read a newspaper was asked to identify that newspaper. The responses are as follows: 1. New

> A survey asked 392 homeowners which area of the home they would most like to renovate. The responses and frequencies are shown next. Use a graphical technique to present these results. Briefly summarize your findings. Area

> Where do consumers get information about cars? A sample of recent car buyers was asked to identify the most useful source of information about the cars they purchased. The responses are as follows: 1. Consumer guide 2. Dealership 3. Word of mouth 4. Int

> What are the most important characteristics of colleges and universities? This question was asked of a sample of college-bound high school seniors. The responses are as follows: 1. Location 2. Majors 3. Academic reputation 4. Career focus 5. Community 6

> Governments in both Canada and the United States have considered passing legislation that increases the minimum hourly wage to $15. The current (as of October 2015) minimum hourly wage in each Canadian province and the percentage of employees earning the

> The amount of time (in seconds) needed to complete a critical task on an assembly line was measured for a sample of 50 assemblies. These data are listed here. Draw a histogram to describe these data. 30,3 34.5 31.1 30.9 33.7 31.9 33.1 31.1 30.0 32.7

> The following table lists the annual world production of 21 fruits (in millions of metric tons). Use a graphical technique to present these figures. Fruit Annual Production

> Each year Michigan State University’s Collegiate Employment Research Institute (CERI) conducts a broad-based survey that tracks starting salaries. This year CERI collected data from the employment offices at 200 universities, which gathered starting sala

> Refer to Exercise 7.16. Find the following probabilities. a. Two heads b. One head c. At least one head d. At least two heads Data from Exercise 7.16: Draw a probability tree to describe the flipping of three fair coins.

> The following table lists the top 10 countries and the amounts of oil (in thousands of barrels per day) they exported to the United States in 2015. Country Oil Imports

> The table below is breakdown of types and amounts of garbage the world creates. Use an appropriate graphical technique to present these figures. Type Amount of Garbage Organic

> The monthly unemployment rate in one state for the past 12 months is listed here. a. Draw a bar chart of these data with 6.0% as the lowest point on the vertical axis. b. Draw a bar chart of these data with 0.0% as the lowest point on the vertical axis.

> The accompanying table lists the average test scores in the Scholastic Assessment Test (SAT) for the years 1967, 1970, 1975, 1980, 1985, 1990, 1995, and 1997 to 2007. Draw a chart for each of the following. a. You wish to show that both verbal and mathem

> The numbers of weekly sales calls by a sample of 30 telemarketers are listed here. Draw a histogram of these data and describe it. 3 10 9 17 3 9 18 17 5 16 19 14 12 8 20 19 15 8 21 15 17 7 10 6 4 25 5 14 10 8

> The total reserves of oil in the world are 1,689,078,618,100 barrels. The total reserves of the top 15 countries listed in Exercise 2.13 are 1,563,350,000,000 barrels. Use a graphical technique that emphasizes the percentage breakdown of the top 15 count

> When will the world run out of oil? One way to judge is to determine the oil reserves of the countries around the world. The next table displays the known reserves of the top 15 countries. Graphically describe the figures. Country O

> A random sample of car owners was asked these questions. Identify the type of data. a. Make of car b. Age of your car in months c. Amount of annual insurance d. Number of miles on odometer

> A survey of taxpayers who complete their own tax returns were asked the following questions. Determine the type of data each question produces. a. Did you use software? b. How long did it take you to complete this year’s return? c. Rate the ease with whi

> Draw a probability tree to describe the flipping of three fair coins.

> At the end of the term, university and college students often complete questionnaires about their courses. Suppose that in one university, students were asked the following. a. Rate the course (highly relevant, relevant, irrelevant) b. Rate the professor

> Does temperature affect the distance that golf balls travel? A Florida golfer decided to try to answer the question. Over the course of a year he measured the distance his drive traveled on a particular flat 400 yard par 4. The temperature (degrees Fahre

> Provide two examples each of nominal, ordinal, and interval data.

> The 17th hole at the TPC (Tournament Players Club) is an island green that causes even professional players to put their tee shots into the surrounding pond. A statistics practitioner kept track of the number of golf balls put into the pond by amateurs f

> It is generally believed that higher interest rates result in less employment because companies are more reluctant to borrow to expand their business. To determine whether there is a relationship between bank prime rate and unemployment, an economist col

> An analyst employed at a commodities trading firm wanted to explore the relationship between prices of grains and livestock. Theoretically, the prices should move in the same direction because, as the price of livestock increases, more livestock are bred

> A very large contribution to profits for a movie theater is the sales of popcorn, soft drinks, and candy. A movie theater manager speculated that the longer the time between showings of a movie, the greater the sales of concession items. To acquire more

> Are younger workers less likely to stay with their jobs? To help answer this question, a random sample of workers was selected. All were asked to report their ages and how many months they had been employed with their current employers. a. Produce a scat

> Do chief executive officers (CEOs) of publicly traded companies earn their compensation? Every year the National Post’s Business magazine attempts to answer the question by reporting the CEO’s annual compensation ($1,000), the profit (or loss) ($1,000),

> The Red Lobster Restaurant chain conducts regular surveys of its customers to monitor the performance of individual restaurants. One of the questions asks customers to rate the overall quality of their last visit. The listed responses are Poor (1), Fair

> Refer to Exercise 7.14. Find the following probabilities. a. No heads b. One head c. Two heads d. At least one head Data from Exercise 7.14: Use a probability tree to compute the probability of the following events when flipping two fair coins.

> Many downhill skiers eagerly look forward to the winter months and fresh snowfalls. However, winter also entails cold days. How does the temperature affect skiers’ desire? To answer this question, a local ski resort recorded the temperature for 50 random

> A sample of 200 people who had purchased food at the concession stand at Yankee Stadium was asked to rate the quality of the food. The responses are as follows: 1. Poor 2. Fair 3. Good 4. Very good 5. Excellent Draw a graph that describes the data. What

> A statistics professor formed the theory that students who handed in quiz and exams early outperformed students who handed in their papers later. To develop data to decide whether her theory is valid, she recorded the amount of time (in minutes) taken by

> It is well known that mathematicians do their best work before the age of 30. But, what happens to them as they grow older? A statistician took a random sample of mathematics professors who were older than 40 and determined their age and the number of to

> There are a number of minor-league baseball players who never make it to the major leagues. A statistics practitioner kept track of the age at which 32 players realized their dream of playing in the majors would never be fulfilled and retired. Draw a his

> The cost of repairing cars involved in collisions is one reason insurance premiums are so high. In an experiment, 10 cars were driven into a wall. The speeds were varied between 2 and 20 mph. The costs of repair were estimated and are listed here. Draw a

> In a university where calculus is a prerequisite for the statistics course, a sample of 15 students was drawn. The marks for calculus and statistics were recorded for each student. The data are as follows: a. Draw a scatter diagram of the data. b. What

> June 7 is known as Tax Freedom day in Canada. The annual taxes paid by an average Canadian family earning $105,236 is $45,167. The breakdown of these taxes is shown in the table below. Use an appropriate graphical technique to present these figures. Inco

> An Uber driver kept track of the number of calls he received over a 28-day period. The data are listed here. Create a histogram. 7 3 8 11 7 5 10 10 7 8 10 7 9 7 8 8 4 4 17 13 9. 7 12 8 10 4 7

> The gross domestic product (GDP) is the sum total of the economic output of a country. It is an important measure of the wealth of a country. The GDP of the United States from 1935 to 2015 is stored in the file. a. Draw a line chart of the GDP. b. Adjust

> Use a probability tree to compute the probability of the following events when flipping two fair coins. a. Heads on the first coin and heads on the second coin b. Heads on the first coin and tails on the second coin c. Tails on the first coin and heads o

> The average daily U.S. oil consumption and production (thousands of barrels) was recorded for the years 1973 to 2015. Draw a line chart for both sets of figures. Describe what you have learned.

> The costs of smoking for individuals, companies for whom they work, and society in general is in the many billions of dollars. In an effort to reduce smoking various government and non-government organizations have undertaken information campaigns about

> Interest on Federal Debt from 1935 to 2015 was recorded. draw the following line charts and briefly describe what the chart tells you about each variable. a. Original data b. Per capita data c. Per capita in constant 1982–1984 dollars

> Education spending from 1935 to 2015 was recorded. draw the following line charts and briefly describe what the chart tells you about each variable. a. Original data b. Per capita data c. Per capita in constant 1982–1984 dollars

> Welfare payments for 1965 to 2015 were recorded. draw the following line charts and briefly describe what the chart tells you about each variable. a. Original data b. Per capita data c. Per capita in constant 1982–1984 dollars

> Total Federal government spending from 1935 to 2015 is stored. draw the following line charts and briefly describe what the chart tells you about each variable. a. Original data b. Per capita data c. Per capita in constant 1982–1984 dollars

> The defense budget for years 1935 to 2015 were recorded. draw the following line charts and briefly describe what the chart tells you about each variable. a. Original data b. Per capita data c. Per capita in constant 1982–1984 dollars

> Social Insurance Old Age Survivor Insurance provides a pension for Americans who are over 60 years of age and whose spouse has died. Costs for 1958 to 2015 were recorded. draw the following line charts and briefly describe what the chart tells you about

> A statistics practitioner would like to draw a histogram of 40 observations that range from 5.2 to 6.1. a. How many class intervals should the histogram use? b. Define the upper limits of the classes.

> Social Security Disability Insurance a program that pays monthly benefits to individuals who have become disabled before reaching retirement age and aren’t able to work. SSDI costs were recorded for the years 1958 to 2015. draw the following line charts

> The probability that a university graduate will be offered no jobs within a month of graduation is estimated to be 5%. The probability of receiving one, two, and three job offers has similarly been estimated to be 43%, 31%, and 21%, respectively. Determi

> Medicaid is a program created by the federal government, but administered by the state, to provide payment for medical services for low-income citizens. The costs were recorded from 1962 to 2015. draw the following line charts and briefly describe what t

> Medicare Part B pays for a portion of physicians’ visits, medical equipment, outpatient procedures, rehabilitative therapy, laboratory tests, X-rays, ambulance service, and blood. Costs were recorded for 1967 to 2015. draw the following line charts and b

> The U.S. government provides Medicare to Americans who are 65 years and older. Medicare Part A pays the costs of hospital and nursing care, but not physicians’ bills. The file lists Medicare Part A costs since 1966. draw the following line charts and bri

> The United States spends more money on health care than any other country. To gauge how fast costs are rising we recorded the total health care costs since 1950. draw the following line charts and briefly describe what the chart tells you about each vari

> The number of violent crimes and the number of property crimes (burglary, larceny theft, and car theft) (in thousands) for the years 1993 to 2012 (latest figures available) are listed here. a. Draw a line chart of the violent crimes. b. Draw a line chart

> It won’t come as a surprise to hockey fans that with each passing season the number of goals scored is decreasing. Many experts blame goalie equipment. The oversized pads and other protection for goalies now makes even relatively small

> How well have Canada and the United States performed at the Winter Olympics? In the table displayed here, we list the total number of medals won by the two countries in each year. Draw a chart to describe both time series. Year Canada United States

> Respondents were asked to report the total value of certificates of deposit (CDs) in 2013 dollars held by the household. a. Try drawing histograms with different numbers of class intervals and different upper limits. b. What problem do you encounter in d

> One of the questions asked respondents to report the total value of assets held by the household in 2013 dollars. Note that the range is very large. The minimum is $0 and the maximum is $1,312,587,840. a. Draw a histogram using the number of class interv

> A data set consists of 300 observations that range between 147 and 241. a. What is an appropriate number of classes to have in the histogram? b. What class intervals would you suggest?

> A gambler believes that a strategy called “doubling up” is an effective way to gamble. The method requires the gambler to double the stake after each loss. Thus, if the initial bet is $1, after losing he will double the bet until he wins. After a win, he

> Create a histogram of the number of children. Despite the fact that the sample size is over 6,000, why should you not have 20 class intervals?