Question: Refer to the data set in Table

> 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

> A Gallup Poll utilizing a random sample of 1,503 adults ages 18 or older was conducted in April 2018. The survey indicated a majority of Americans (53%) say driverless cars will be common in the next 10 years (Gallup, https://news.gallup.com/poll/234152/

> The Bureau of Transportation Statistics Omnibus Household Survey is conducted annually and serves as an information source for the U.S. Department of Transportation. In one part of the survey the person being interviewed was asked to respond to the follo

> Based on data from the U.S. Census Bureau, a Pew Research study showed that the percentage of employed individuals ages 25–29 who are college educated is at an all-time high. The study showed that the percentage of employed individuals aged 25–29 with at

> The Tennessean, an online newspaper located in Nashville, Tennessee, conducts a daily poll to obtain reader opinions on a variety of current issues. In a recent poll, 762 readers responded to the following question: “If a constitutional amendment to ban

> Consider the following data. a. Construct a dot plot. b. Construct a frequency distribution. c. Construct a percent frequency distribution.

> Many service companies collect data via a follow- up survey of their customers. For example, to ascertain customer sentiment, Delta Air Lines sends an email to customers immediately following a flight. Among other questions, Delta asks: How likely are yo

> J.D. Power and Associates surveys new automobile owners to learn about the quality of recently purchased vehicles. The following questions were asked in a J.D. Power Initial Quality Survey. a. Did you purchase or lease the vehicle? b. What price did you

> Table 1.7 shows data for eight phones (Consumer Reports). The Overall Score, a measure of the overall quality for the phone, ranges from 0 to 100. Voice Quality has possible ratings of poor, fair, good, very good, and excellent. Talk Time is the manufac

> Refer to Table 1.6. a. What is the average cost for the tablets? b. Compare the average cost of tablets with a Windows operating system to the average cost of tablets with an Android operating system. c. What percentage of tablets use a CPU manufactured

> Tablet PC Comparison provides a wide variety of information about tablet computers. The company’s website enables consumers to easily compare different tablets using factors such as cost, type of operating system, display size, battery

> Discuss the differences between statistics as numerical facts and statistics as a discipline or field of study

> The Wall Street Journal provides the net asset value, the year-to-date percent return, and the three-year percent return for 882 mutual funds at the end of 2017. Assume that a simple random sample of 12 of the 882 mutual funds will be selected for a foll

> The following stocks make up the Dow Jones Industrial Average. Suppose you would like to select a sample of six of these companies to conduct an indepth study of management practices. Use the first two digits in each row of the ninth column of Table 7.

> Assume that we want to identify a simple random sample of 12 of the 372 doctors practicing in a particular city. The doctors’ names are available from a local medical organization. Use the eighth column of five-digit random numbers in T

> Construct a histogram for the data in exercise 12. Exercise 12: Consider the following frequency distribution. Class ……………………………….. Frequency 10–19 …………………………………………. 10 20–29 ………………………………………… 14 30–39 …………………………………………. 17 40–49 …………………………………………. 7 50–5

> The County and City Data Book, published by the Census Bureau, lists information on 3139 counties throughout the United States. Assume that a national study will collect data from 30 randomly selected counties. Use four-digit random numbers from the last

> A student government organization is interested in estimating the proportion of students who favor a mandatory “pass-fail” grading policy for elective courses. A list of names and addresses of the 645 students enrolled

> According to the U.S. Department of Health and Human Services, only 49.2% of homes in the United States used landline telephone service in 2017. a. Suppose a sample of 207,000 U.S. homes will be taken to learn about home telephone usage. Show the samplin

> The president of Colossus.com, Inc., believes that 42% of the firm’s orders come from customers who have purchased from Colossus.com in the past. A random sample of 108,700 orders from the past six months will be used to estimate the proportion of orders

> The New York Times reported that 17.2 million new cars and light trucks were sold in the United States in 2017, and the U.S. Environmental Protection Agency projects the average efficiency for these vehicles to be 25.2 miles per gallon. Assume that that

> The U.S. Bureau of Labor Statistics (BLS) reported that the mean annual number of hours of vacation time earned by blue-collar and service employees who work for small private establishments and have at least 10 years of service is 100. Assume that for t

> Assume that the population proportion is .44. Compute the standard error of the proportion, σp̅, for sample sizes of 500,000; 1,000,000; 5,000,000; 10,000,000; and 100,000,000. What can you say about the size of the standard error of the sample Proportio

> A sample of size 100,000 is selected from a population with p = .75. a. What is the expected value of p̅? b. What is the standard error of p̅? c. Show the sampling distribution of p̅. d. What does the sampling distribution of p̅ show?

> Assume the population standard deviation is σ = 25. Compute the standard error of the mean, σx̅, for sample sizes of 500,000; 1,000,000; 5,000,000; 10,000,000; and 100,000,000. What can you say about the size of the standard error of the mean as the samp

> A population has a mean of 400 and a standard deviation of 100. A sample of size 100,000 will be taken, and the sample mean x̅ will be used to estimate the population mean. a. What is the expected value of x̅? b. What is the standard deviation of x̅ ? c

> Consider the following frequency distribution. Class ……………………………….. Frequency 10–19 …………………………………………. 10 20–29 ………………………………………… 14 30–39 …………………………………………. 17 40–49 …………………………………………. 7 50–59 …………………………………………. 2 Construct a cumulative frequency distribut

> Data made available through the Petersen-Kaiser Health System Tracker in May 2018 showed health expenditures were $10,348 per person in the United States. Use $10,348 as the population mean and suppose a survey research firm will take a sample of 100 peo

> The Food Marketing Institute shows that 17% of households spend more than $100 per week on groceries. Assume the population proportion is p = .17 and a sample of 800 households will be selected from the population. a. Show the sampling distribution of p̅

> The Grocery Manufacturers of America reported that 76% of consumers read the ingredients listed on a product’s label. Assume the population proportion is p = .76 and a sample of 400 consumers is selected from the population. a. Show the sampling distribu

> The 10 most active stocks on the New York Stock Exchange for a given week, are shown here. Exchange authorities decided to investigate trading practices using a sample of three of these stocks. a. Beginning with the first random digit in column 6 of Ta

> In 2016 the Better Business Bureau settled 80% of complaints they received in the United States. Suppose you have been hired by the Better Business Bureau to investigate the complaints they received this year involving new car dealers. You plan to select

> According to Reader’s Digest, 42% of primary care doctors think their patients receive unnecessary medical care. a. Suppose a sample of 300 primary care doctors was taken. Show the sampling distribution of the proportion of the doctors who think their pa

> In 2017, the Restaurant Hospitality website reported that only 10% of surplus food is being recovered in the food-service and restaurant sector, leaving approximately 1.5 billion meals per year uneaten. Assume this is the true population proportion and t

> The Wall Street Journal reported that the age at first startup for 55% of entrepreneurs was 29 years of age or less and the age at first startup for 45% of entrepreneurs was 30 years of age or more. a. Suppose a sample of 200 entrepreneurs will be taken

> The president of Doerman Distributors, Inc., believes that 30% of the firm’s orders come from first-time customers. A random sample of 100 orders will be used to estimate the proportion of first-time customers. a. Assume that the president is correct and

> The population proportion is .30. What is the probability that a sample proportion will be within ±.04 of the population proportion for each of the following sample sizes? a. n = 100 b. n = 200 c. n = 500 d. n = 1000 e. What is the advantage of a larger

> Assume that the population proportion is .55. Compute the standard error of the proportion, σp̅, for sample sizes of 100, 200, 500, and 1000. What can you say about the size of the standard error of the proportion as the sample size is increased?

> Consider the following data. a. Develop a frequency distribution using classes of 12–14, 15–17, 18–20, 21–23, and 24–26. b. Develop a relative frequency distribut

> A population proportion is .40. A sample of size 200 will be taken and the sample proportion p̅ will be used to estimate the population proportion. a. What is the probability that the sample proportion will be within ±.03 of the population proportion? b.

> A sample of size 100 is selected from a population with p̅ = .40. a. What is the expected value of p̅ ? b. What is the standard error of p̅ ? c. Show the sampling distribution of p̅. d. What does the sampling distribution of p̅ show?

> To estimate the mean age for a population of 4000 employees, a simple random sample of 40 employees is selected. a. Would you use the finite population correction factor in calculating the standard error of the mean? Explain. b. If the population standar

> Fortune publishes data on sales, profits, assets, stockholders’ equity, market value, and earnings per share for the 500 largest U.S. industrial corporations every year. Assume that you want to select a simple random sample of 10 corpor

> The CPA Practice Advisor reports that the mean preparation fee for 2017 federal income tax returns was $273. Use this price as the population mean and assume the population standard deviation of preparation fees is $100. a. What is the probability that t

> The state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches. Assume that the standard deviation for both states is 4 inches. A sample of 30 years of rainfall for California and a

> The Economic Policy Institute periodically issues reports on worker’s wages. The institute reported that mean wages for male college graduates were $37.39 per hour and for female college graduates were $27.83 per hour in 2017. Assume the standard deviati

> The Wall Street Journal reports that 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return. The mean amount of deductions for this population of taxpayers was $16,642. Assume the s

> In May 2018, The College Board reported the following mean scores for two parts of the Scholastic Aptitude Test (SAT): Assume that the population standard deviation on each part of the test is s = 100. a. What is the probability a sample of 90 test tak

> Barron’s reported that the average number of weeks an individual is unemployed is 17.5 weeks. Assume that for the population of all unemployed individuals the population mean length of unemployment is 17.5 weeks and that the population standard deviation

> TripAdvisor is one of many online websites that provides ratings for hotels throughout the world. Ratings provided by 649 guests at the Lakeview Hotel can be found in the file HotelRatings. Possible responses were Excellent, Very Good, Average, Poor, and

> In the EAI sampling problem (see Figure 7.5), we showed that for n = 30, there was .5034 probability of obtaining a sample mean within ±$500 of the population mean. a. What is the probability that x̅ is within $500 of the popul

> Refer to the EAI sampling problem. Suppose a simple random sample of 60 managers is used. a. Sketch the sampling distribution of x̅ when simple random samples of size 60 are used. b. What happens to the sampling distribution of x̅ if simple random sample

> Suppose a random sample of size 50 is selected from a population with σ = 10. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor if appropriate). a. The population size is infinite

> Assume the population standard deviation is σ = 25. Compute the standard error of the mean, σx̅, for sample sizes of 50, 100, 150, and 200. What can you say about the size of the standard error of the mean as the sample size is increased?

> Assume a finite population has 350 elements. Using the last three digits of each of the following five-digit random numbers (e.g., 601, 022, 448, . . . ), determine the first four elements that will be selected for the simple random sample.

> A population has a mean of 200 and a standard deviation of 50. Suppose a sample of size 100 is selected and x̅ is used to estimate µ. a. What is the probability that the sample mean will be within ±5 of the population mean? b. What is the probability tha

> A population has a mean of 200 and a standard deviation of 50. A sample of size 100 will be taken and the sample mean x̅ will be used to estimate the population mean. a. What is the expected value of x̅ ? b. What is the standard deviation of x̅ ? c. Show

> The Pew American Trends Survey includes a series of questions on attitudes toward automation. The May 2018 results showed that 2977 of 4135 respondents are worried about a future in which robots and computers can do many human jobs, 2770 are worried abou

> In a sample of 426 U.S. adults age 50 and older, AARP asked how important a variety of issues were in choosing whom to vote for in the next presidential election. a. What is the sampled population for this study? b. Social Security and Medicare was cited