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business
business statistics communicating

Questions and Answers of Business Statistics Communicating

Suppose a study of 196 randomly sampled privately insured adults with incomes more than 200% of the current poverty level will be used to measure out-ofpocket medical expenses for prescription drugs
In a company, the HR department is able to identify a small number of staff members who were clocking in at irregular hours in the morning. To determine the punctuality of the staff members, the HR
Dior has been conducting business on the Internet for the past two years. He sells products that include beauty products, supplements, and household essentials. Managing the online business has
A regional U.S. commercial bank issues both Visa and MasterCard credit cards. As a part of its annual review of the profitability of each type of credit card, the bank randomly samples 36 customers
In a study conducted by a national credit card company, corporate clients were surveyed to determine the extent to which hotel room rates quoted by central reservation systems differ from the rates
Bolton, Inc., an Internet service provider (ISP), has experienced rapid growth in the past five years. As a part of its marketing strategy, the company promises fast connections and dependable
Car buyers often add accessories to their new cars. A sample of 179 Mini Cooper purchasers yielded a sample mean of $5,000 worth of accessories added to the purchase above the $20,200 base sticker
A consumer group conducted a study of SUV owners to estimate the mean highway mileage for their vehicles. A simple random sample of 91 SUV owners was selected, and the owners were asked to report
The BelSante Company operates retail pharmacies in 10 eastern states. The company’s internal audit department selected a random sample of 300 prescriptions issued throughout the system. The
Allante Pizza delivers pizzas throughout its local market area at no charge to the customer. However, customers often tip the driver. The owner is interested in estimating the mean tip income per
A random sample was selected from a population having a normal distribution. Calculate a 90%confidence interval estimate for m for each of the following situations:a. x = 134, n = 10, s = 3.1b. x =
A random sample of n = 9 values taken from a normally distributed population with a population variance of 25 resulted in the following sample values:53 46 55 45 44 52 46 60 49 Use the sample values
A random sample of n = 12 values taken from a normally distributed population resulted in the following sample values:107 109 99 91 103 105 105 94 107 94 97 113 Use the sample information to
A random sample of size 20 yields x = 3.13 and s2 = 1.45. Calculate a confidence interval for the population mean whose confidence level is as follows:a. 0.99b. 0.98c. 0.95d. 0.90e. 0.80f. What
The following sample data have been collected based on a simple random sample from a normally distributed population:2 8 0 2 3 5 3 1 4 2a. Compute a 90% confidence interval estimate for the
Determine the margin of error for a confidence interval estimate for the population mean of a normal distribution given the following information:a. confidence level = 0.98, n = 13, s = 15.68b.
Determine the 90% confidence interval estimate for the population mean of a normal distribution given n = 100, s = 121, and x = 1,200.
Construct a 98% confidence interval estimate for the population mean given the following values:x = 120 s = 20 n = 50
Construct a 95% confidence interval estimate for the population mean given the following values:x = 300 s = 55 n = 250
Construct a 90% confidence interval estimate for the population mean given the following values:x = 70 s = 15 n = 65
Assuming the population of interest is approximately normally distributed, construct a 95% confidence interval estimate for the population mean given the following values:x = 18.4 s = 4.2 n = 13
The data file Trucks contains data on a sample of 200 trucks that were weighed on two scales. The WIM(weigh-in-motion) scale weighs the trucks as they drive down the highway. The POE scale weighs the
Covercraft manufactures covers to protect automobile interiors and finishes. Its Block-It 380 Series fabric has a limited three-year warranty. Periodic testing is commonly done to determine if
The file High Desert Banking contains information regarding consumer, real estate, and small commercial loans made last year by the bank. Use your computer software to do the following:a. Construct a
A business professor stated that 74% of adult Internet users are confident making purchases online. As part of a class project, the students in the class were required to survey adults in the
The Patients file contains information for a random sample of geriatric patients. During a meeting, one hospital administrator indicated that 70% of the geriatric patients are males.a. Based on the
A computer scanner can read a bar code on a package correctly 97% of the time. One company monitors the accuracy of the scanner by randomly sampling packages and verifying that each package has been
Suppose executives at Netflix believe that at least 70%of customers would return a movie 2 days after it arrives at their home. A sample of 500 customers found 68%returned the movie prior to the
While the average starting salary for graduates with an MBA degree varies depending on the university attended and field of emphasis, one source shows a 2015 median annual starting base salary of
One of the most critical factors in the success of PC makers is how fast they can turn their inventory of parts.Faster inventory turns mean lower average inventory cost. The vice president (VP) of
The Bendbo Corporation has a total of 300 employees in its two manufacturing locations and the headquarters office. A study conducted five years ago showed the average commuting distance to work for
Tiffany is the president for a residential community center located in her residential area. The community center is going to initiate a cleaning drive around their residential area. In order to
Suppose Frito-Lay managers set the fill volume on Cheetos to an average of 16 ounces. The filling machine is known to fill with a standard deviation of 0.25 ounce with a normal distribution around
The time it takes a mechanic to tune an engine is known to be normally distributed with a mean of 45 minutes and a standard deviation of 14 minutes.a. Determine the mean and standard error of a
Shell Global reported the amount of gasoline sold daily at their petrol stations is uniformly distributed with a minimum of 3,000 gallons and a maximum of 7,000 gallons. A survey was conducted on the
Suppose at your university, some administrators believe that the proportion of students preferring to take classes at night exceeds 0.30. The president is skeptical and so has an assistant take a
A company in Hawaii manages properties for owners and arranges for the properties to be rented. A property owner who is considering using the company is told that 10% of the bookings result in a
When its ovens are working properly, the time required to bake fruit pies at Ellardo Bakeries is normally distributed with a mean of 45 minutes and a standard deviation of 5 minutes. Yesterday, a
The Baily Hill Bicycle Shop sells mountain bikes and offers a maintenance program to its customers. The manager has found the average repair bill during the maintenance program’s first year to be
If a population is known to be normally distributed, what size sample is required to ensure that the sampling distribution of x is normally distributed?
Consider the standard error of a sample proportion obtained from a sample of size 100.a. Determine the standard error obtained from a population with p = 0.1.b. Repeat part a for a population
A researcher has collected all possible samples of size 150 from a population and listed the sample means for each of these samples.a. If the average of the sample means is 450.55, what would be the
Discuss why the sampling distribution is less variable than the population distribution. Give a short example to illustrate your answer.
A sample of size 30 is obtained from a population that has a proportion of 0.34. Determine the range of sampling errors possible when the sample proportion is used to estimate the population
A study conducted by Reuters revealed that 14% of Fortune 1000 companies either terminated or froze their defined-benefit pension plans (source: Mark Miller, “The vanishing defined-benefit pension
A popular magazine aimed at IT professionals states that 65% of its subscribers have an annual income greater than $100,000. The magazine’s staff uses this high proportion of subscribers earning
In 2015, the average hourly compensation (salary plus benefits) for federal workers was $40.32 (source: Chris Edwards, “Reducing the costs of federal worker pay and benefits,”
The Bureau of Transportation Statistics releases information concerning the monthly percentage of U.S.airline flights that land no later than 15 minutes after scheduled arrival. Suppose that last
Several years ago, Procter & Gamble (P&G) merged with Gillette. One of the concerns after the merger was the increasing burden of retirement expenditures. An effort was made to encourage employees to
Airgistics provides air consolidation and freightforwarding services for companies that ship their products internationally. Airgistics currently believes that it achieves a 96% on-time performance
The prospective customers for a beauty company in India constitute 58% women and 42% men. The company, Ayuur, launched an aggressive marketing campaign and, as reported in a survey of 50 customers,
Ten percent of engineers (electrical, mechanical, civil, and industrial) are women (source: Rebecca Adams,“40 Percent of female engineers are leaving the field.This might be why,”
During the national sports day held at Kuala Lumpur, a number of athletes tested positive for the hidden presence of banned supplements and lost the opportunity to compete in the games. There was
The National Service Training Program is Malaysia’s national service program, which began in December 2003, for 18-year-old youths at risk. During one year, around 85,000 youths participated in the
United Manufacturing and Supply makes sprinkler valves for use in residential sprinkler systems. United entered into a contract to supply 40,000 sprinkler valves. The contract called for at least 97%
A survey is conducted from a population of people of whom 40% have a college degree. The following sample data were recorded for a question asked of each person sampled, “Do you have a college
Given a population in which the probability of a success is p = 0.40, if a sample of 1,000 is taken,a. Calculate the probability the proportion of successes in the sample will be less than 0.42.b.
Given a population in which the proportion of items with a desired attribute is p = 0.50, if a sample of 200 is taken,a. Find the probability the proportion of successes in the sample will be between
Given a population in which the proportion of items with a desired attribute is p = 0.25, if a sample of 400 is taken,a. What is the standard deviation of the sampling distribution of p?b. What is
The proportion of items in a population that possess a specific attribute is known to be 0.70.a. If a simple random sample of size n = 100 is selected and the proportion of items in the sample that
If a random sample of 200 items is taken from a population in which the proportion of items having a desired attribute is p = 0.30, what is the probability that the proportion of successes in the
A population has a proportion equal to 0.30. Calculate the following probabilities with n = 100:a. P1 p … 0.352b. P1 p 7 0.402c. P10.25 6 p … 0.402d. P1 p Ú 0.272.
The file Salaries contains the annual salary for all faculty at a small state college in the Midwest. Assume that these faculty salaries represent the population of interest.a. Compute the population
Referring to Exercise 7-42, the data file called CEO Compensation contains data for highly paid CEOs.Treat the values as the population. If a random sample of size 5 was selected from this
The file CEO Compensation contains data on the top paid executives in 2014 (source: “Fortunate 50 data,”Pittsburgh Post-Gazette, www.post-gazette.com, June 14, 2015).a. Treating the data in the
Bruce Leichtman is president of Leichtman Research Group, Inc. (LRG), which specializes in research and consulting on broadband, media, and entertainment industries. In a recent survey, the company
Acee Bottling and Distributing bottles and markets Pepsi products in southwestern Vermont. The average fill volume for Pepsi cans is supposed to be 12 ounces.The filling machine has a known standard
One of the top-selling video games is Call of Duty:Black Ops. While prices vary widely depending on store or website, the suggested retail price for this video game is $59.95. The file titled Black
Newspaper advertisements can increase the reach of any type of business. Alice is going to advertise a health product she has developed in a local newspaper.She is trying to find a newspaper that
Following a university’s entry requirements, students are required to sit for an English test on the day of enrollment. The average score of students taking the entire test is 78 and it has a
Mileage ratings for cars and trucks generally come with a qualifier stating actual mileage will depend on driving conditions and habits. Ford states the Ecoboost F-150 3.5-L V6 will average 20 miles
A fast food restaurant manager claims that they have an average time of 4.2 minutes with a standard deviation of 1.3 minutes as the duration between a customer entering the restaurant and the food
Sands, Inc., makes particleboard for the building industry. Particleboard is built by mixing wood chips and resins together and pressing the sheets under extreme heat and pressure to form a 4-feet *
Suppose the life of a particular brand of calculator battery is approximately normally distributed with a mean of 75 hours and a standard deviation of 10 hours.a. What is the probability that a
SeaFair Fashions relies on its sales force of 220 to do an initial screening of all new fashions. The company is bringing out a new line of swimwear and has invited 40 salespeople to its Orlando home
In a certain region of country A, the average duration of first-time marriages that end in divorce is 7.8 years with a standard deviation of 2.2 years. To investigate this further, a random sample of
Scott Barker, a local vegetable hawker, claims that the pumpkins sold at his store have an average weight of 14 pounds with a standard deviation of 2.15 pounds.You bought six pumpkins from his store
Consider a normal distribution with mean = 12 and standard deviation = 90. Calculate P1x 7 362 for each of the following sample sizes:a. n = 1b. n = 9c. n = 16d. n = 25
Given a distribution that has a mean of 40 and a standard deviation of 13, calculate the probability that a sample of 49 has a sample mean that isa. greater than 37b. at most 43c. between 37 and 43d.
A random sample of 100 items is selected from a population of size 350. What is the probability that the sample mean will exceed 200 if the population mean is 195 and the population standard
Suppose nine items are randomly sampled from a normally distributed population with a mean of 100 and a standard deviation of 20. The nine randomly sampled values are 125 95 66 116 99 91 102 51 110
If a population is known to be normally distributed with m = 250 and s = 40, what will be the characteristics of the sampling distribution for x based on a random sample of size 25 selected from the
A normally distributed population has a mean of 500 and a standard deviation of 60.a. Determine the probability that a random sample of size 16 selected from this population will have a sample mean
Suppose that a population is known to be normally distributed with m = 2,000 and s = 230. If a random sample of size n = 8 is selected, calculate the probability that the sample mean will exceed
A population with a mean of 1,250 and a standard deviation of 400 is known to be highly skewed to the right. If a random sample of 64 items is selected from the population, what is the probability
The Badke Foundation was set up by the Fred Badke family following his death in 2001. To help in the solicitation of contributions, the foundation was considering the idea of hiring a consulting
Maher, Barney, and White LLC is a legal firm with 40 employees. All of the firm’s employees are eligible to participate in the company’s 401(k) plan, and the firm is proud of its 100%
Wilson Lumber Company is a privately held company that makes cedar siding, cedar lumber, and cedar fencing products. The major cost of production is the cedar logs that are the raw material necessary
The file Dow Jones contains date, open, high, low, close, and volume for the Dow Jones Industrial Average (DJIA) for almost eight years of trading days.a. Assuming that the data in the file
The file titled Clothing contains the monthly retail sales ($millions) of U.S. women’s clothing stores for 70 months. A sample taken from this population to estimate the average sales in this time
The file 2015 Cardinals shows the player positions and annual salaries for the Arizona Cardinals NFL players (source: www.spotrac.com/nfl).a. Calculate the average total salary for the Arizona
A computer lab at a small college has 25 computers. Twice during the day, a full scan for viruses is performed on each computer. Because of differences in the configuration of the computers, the
An investment advisor has worked with 24 clients for the past five years. Following are the percentage rates of average five-year returns that these 24 clients experienced over this time on their
Princess Cruises offered a 9-day voyage from Beijing to Bangkok during the time period from May to August. The announced price, excluding airfare, for a room with an ocean view or a balcony was
The administrator at Saint Frances Hospital is concerned about the amount of overtime the nursing staff is incurring and wonders whether so much overtime is really necessary. The hospital employs 60
The Anasazi Real Estate Company has 20 listings for homes in Santa Fe, New Mexico. The number of days each house has been on the market without selling is as follows:26 45 16 77 33 50 19 23 55 107 88
An Internet service provider states that the average number of hours its customers are online each day is 3.75. Suppose a random sample of 14 of the company’s customers is selected and the average
The department manager of a local retail outlet found that after restructuring the sales department, by reducing the sales force costs, the costs had fallen.Despite this the frontline sales
Eric is an administrator at a local sales department. His manager assigned him to create a report on the number of stages in changing from Unqualified to Qualified for all 25 sales representatives in
Consider the following population:3 6 9a. Calculate the population mean.b. Select, with replacement, and list each possible sample of size 2. Also, calculate the sample mean for each sample.c.

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