Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Problem 1.

Use the following data set. The data set represents incomes (in thousands of dollars) of 20 employees at an engineering firm.

50, 48, 46, 59, 44, 43, 35, 59, 48, 53, 46, 59, 52, 48, 51, 59, 53, 51, 53, 52

(a) Find the range, mean, median, and mode of the data set.

(b) Make a frequency distribution for the data set using 5 classes. Include class midpoints, frequencies, and relative frequencies.

(c) Make a relative frequency histogram using the frequency distribution in (b).

(d) Determine which class has the greatest relative frequency and which has the least.

Problem 2.

The table shows the results of a survey in which 622 men and 644 women ages 25 to 46 were asked if they like Coke or Pepsi.

Men Women Total
Likes Pepsi 325 284 609
Likes Coke 297 360 657
Total 622 644 1266

(a) Find the probability that a randomly selected person likes Pepsi.

(b) Given that a randomly selected person is male, find the probability that the person likes coke.

(c) Given that a randomly selected person likes Pepsi, find the probability that the worker is a female.

(d) Are the events "likes Coke" and "being male" independent or dependent? Explain.

Problem 4.

Scores for a statistics exam are normally distributed, with a mean of 80 and a standard deviation of 10. Students scoring in the top 6% of the class are offered the opportunity to take an advanced statistics class. What is the lowest score you can earn and still be eligible to take the advance class?

Problem 5.

You randomly select 20 supermarkets and measure the temperature of their coolers. The
sample mean temperature is 43:0 F with a sample standard deviation of 2:0. Find the 95% confidence interval for the mean temperature. Assume the temperatures are approximately normally distributed.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91624278
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

Could you please explain this question for me pretty

Could you please explain this question for me? Pretty struggle with it right now.    "The biggest four banks in Australia are too big to fail. With reference to financial system stability, critique this statement."

For the given cash flows below assume the cash flow is the

For the given cash flows below, assume the cash flow is the same in the next 2 years. Compute the NPV for each project, and compute the incremental IRR. Compare and explain why NPV always gives the correct decision.      ...

Explain the difference between profit and shareholders

Explain the difference between profit and shareholder's wealth maximization and, which of two should be goal of a business?

Consider the study of two insect populations at two

Consider the study of two insect populations at two experimental stations. At station A, the egg hatch rate (computed from a set of 100 eggs at a time) is known to follow approximately a normal distribution with mean 62% ...

Youve finally decided to retire at the ripe old age of 50

You've finally decided to retire at the ripe old age of 50, and due to some fancy investing, you have accumulated $750,000 in mutual funds. Based upon genetics, you're likely to live until you're 80. Since you've taken t ...

On the below question how did they decided the two

On the below question, how did they decided the two probabilities of guessing the correct and wrong answer on a question? Where did the 0.25 and 0.75 come from? The probability of achieving exactly  k  successes in  n  t ...

Could you please teach me why the following question is

Could you please teach me why the following question is considered True. "True or False? Based expected value an investment that produces a payoff of $10 with probability 0.3 and -$3 with probability 0.7 is a viable inve ...

In developing their warranty policy a washing machine

In developing their warranty policy, a washing machine company estimates that over a 1-year period 15% of their new washing machine will need to be repaired. You and your neighbor both purchase a new washing machine. 1) ...

A suppose you purchase a 3-year zero-coupon bond with face

(a) Suppose you purchase a 3-year zero-coupon bond with face value of $1000 and a price of $850. What is the bond's yield? If you hold the bond to maturity, what will be your effective annual return? (b) Now suppose you ...

Show your work and solutionsnbspwhat is the npv of a

SHOW YOUR WORK AND SOLUTIONS  What is the NPV of a project that costs $15,000 and returns $25,000 annually for three years if the opportunity cost of capital is 14%?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As