Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

You have been hired as the Media Librarian for the Johnson City Public Library and the Associate Director tells you that they are thinking of reducing the lending period for books on tape from the current 21 days. You are asked for your input, so you take a random sample of 48 of the titles and obtain the duration in days that each was checked out the last time. The results are:

9,9,10,10,10,10,12,12,12,12,12,12,12,13,13,13,13,13,13,14,14,14,14,14,14,14,14,14,14, 15,15,15,15,15,15,15,18,18,18,18,19,19,20,22,22,23,23,24

1. Find the mean, mode, median, and standard deviation. (I understand this step).

2. What percentage of items circulate between 11.06 and 15.57 days? Use normal curve and estimate.

3. If these sample items represent the population and the lending period was reduced to 14 days, what percent of the circulation would be impacted?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91587425
  • Price:- $30

Priced at Now at $30, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

It has been a bad day for the stock market and you have

It has been a bad day for the stock market and you have heard that only 30% of all stocks gained value. Suppose you have a portfolio of 10 securities and assume a binomial distribution for the number of your stocks that ...

Useby using we need write the Useby using we need write the answer

Useby using we need write the answer download.file("http://www.openintro.org/stat/data/ames.RData", destfile = "ames.RData") load("ames.RData") area price I need how to Get a sample with a size of 100, and find the sampl ...

Financial management how can a financial manager use the

Financial Management How can a financial manager use the time value of money(TVM) concept to accomplish this goal?

A highway rest area contains a vending machine that

A highway rest area contains a vending machine that dispenses cups of coffee. The amount of coffee that the machine provides when a purchase is made approximately follows a uniform distribution between 200 and 250 ml. (a ...

In a sample of 28 cups of coffee at the local coffee shop

In a sample of 28 cups of coffee at the local coffee shop, the average temperature was 162.5 degrees with a standard deviation of 16.7 degrees. What would be the 95% confidence interval for the temperature of your cup of ...

A basket contains 5 bananas and 5 apples each of ten people

A basket contains 5 bananas and 5 apples. Each of ten people picks two fruits at random from the basket without replacement. (a) What is the probability that the first people picks one apple and one banana? (b) What is t ...

A researcher conducts a hypothesis test using a sample from

A researcher conducts a hypothesis test using a sample from an unknown population. If the t statistic has df = 35, how many individuals were in the sample?

If no payments are made a loan of amount 44000 would

If no payments are made, a loan of amount $44000 would increase to $49103.89 after 2 years of monthly compounding interest. If instead, payments of $718.87 are made at the end of each month, how many years would it be un ...

Suppose a soccer team wins each of its games with

Suppose a soccer team wins each of its games with probability 0.4, loses with probability 0.4, and ties with probability 0.2, with each game's outcome independent. Their season starts, and they play a game every day.Let  ...

A travel weekly international transport association survey

A Travel Weekly International Transport Association survey asked business travelers about the purpose for their most recent business trip. 19% responded that it was for an internal company visit. Suppose 950 business tra ...

  • 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