Statistics for Business and Economics
8th Edition
ISBN: 9780132745659
Author: Paul Newbold, William Carlson, Betty Thorne
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Suppose a batch of steel rods produced at a steel plant have a mean length of 150 millimeters, and a variance of 100.
If 275 rods are sampled at random from the batch, what is the probability that the mean length of the sample rods would differ from the population mean by greater than 0.57 millimeters? Round your answer to four decimal places.
Suppose that SAT scores among U.S. college students are
normally distributed with a mean of 500 and a standard deviation
of 100. What is the probability that a randomly selected
individual from this population has an SAT score between 500
and 600?
0.1587
0.3173
0.4207
0.3413
A random sample of 20 employees was collected from Brac University, to estimate the average daily time they spent on social media. Suppose that the population times have a normal distribution with a mean of 95 minutes and a standard deviation of 23 minutes.
a. Find the probability that the sample mean more than 85 minutes.(answer in three decimal places)
b. What is the probability that the sample mean is outside the range of 90 to 100 minutes? (answer in three decimal places)
Chapter 6 Solutions
Statistics for Business and Economics
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Similar questions
- For a population with a mean of 75 and a standard deviation of 12, what proportion of sample means of size n = 16 fall below 82?arrow_forwardThe mean output of a certain type of amplifier is 129 watts with a variance of 100. If 96 amplifiers are sampled, what is the probability that the mean of the sample would differ from the population mean by less than 0.9 watts? Round your answer to four decimal places.arrow_forwardSuppose the amount of change IWU students carry is exponentially distributed with a mean of $0.88. Suppose that we randomly pick 25 IWU students and learn how much change they have. What type of distribution does the population, which is the change carried by IWU students, follow? What are the mean and standard deviation of the population? (6 points) What type of distribution does the sample mean follow? What are the mean and standard deviation of the sample mean? (6 points) Find the probability that the average change of 25 IWU students was between $0.80 and $1.00. Graph the situation, shade in the area to be determined, and find the probability. (6 points)arrow_forward
- I'm assuming for this problem I need to find the z-score first then find the value on the distribution chart?The mean number of calories consumer per day for females aged 27 is 2725 with a standard deviation of 277. If a simple random sample of 100 females is selected, what is the probability that the mean number of calories ingested is more than 2800?arrow_forwardthis population, and the mean of each sample is determined. The mean, ux,is The standard error of the mean, Oy, is (Round your answer to 2 decimal places). QUESTION 4 The average number of miles driven each day by a group of drivers is 20.7 miles with a standard deviation of 6.5 miles. If you randomly select 50 drivers, what is the probability that the average number of miles driven each day is between 19.4 and 22.5 miles? Round your answer to 4 decimal places. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers 5,337 MAY 24 MacBook Air B口 F3 888 F2 F4 1880 %23 24 4 3 Tarrow_forwardI have a distribution with mean zero and variance of 9. I sample 4 people from the population. What is my standard error? Round to 3 decimal points.arrow_forward
- A sample of n = 16 scores has a mean of M = 56and a standard deviation of s = 12 . a. Explain what is measured by the sample standard deviation. b. Compute the estimated standard error for the sample mean and explain what is measured by the standard error.arrow_forwardAmericans spend an average of 23.6 hours per week online, with a standard deviation of 7. The distribution of internet watching is not necessarily normally distributed. Suppose you took a random sample of 50 people. What is the probability that the sample average will be less than 23 hrs? Round your answer to three decimal places, eg 0.628.arrow_forwardQuestion 3 Saved 4) Listen A customer service team receives an average of 376 emails every day. Assume that the standard deviation for the number of emails is 96 emails. A random sample of 40 days was selected. a. What is the expected value of the sample mean? b. What is the standard deviation of the sample mean? Round your answer to two decimal places (e.g. 2.12). c. What is the probability that the average number of emails received was between 360 and 372? Round your answer to two decimal places with a leading zero (e.g. 0.18).arrow_forward
- The score obtained on an emotional intelligence test is normally distributed,with an average score (μ) of 112 and a standard deviation (σ) of 8.5. What is the probability that a randomly selected person will:Q.6.3.1 Obtain a score between 111 and 116? Interpret your answer. Q.6.3.2 Obtain a score between 107 and 110? Interpret your answer.arrow_forwardA random sample of 20 employees was collected from Brac University, to estimate the average daily time they spent on social media. Suppose that the population times have a normal distribution with a mean of 95 minutes and a standard deviation of 23 minutes. b. What is the probability that the sample mean is outside the range of 90 to 100 minutes? Must find the exact number using Z-table(answer in three decimal places)arrow_forwardSCENARIO 3 Two samples each of size 25 are taken from independent populations assumed to be normally distributed with equal variances. The first sample has a mean of 35.5 and a standard deviation of 3.0 while the second sample has a mean of 33.0 and a standard deviation of 4.0. Referring to Scenario 3. the pooled (i.e., combined) variance is ________arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSONEngineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
- Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage LearningManagerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage LearningManagerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education