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
Question
Chapter 2.2, Problem 21E
(a)
To determine
The mean daily exercise time.
(b)
To determine
Calculate the standard deviation of the given sample.
(c)
To determine
Calculate the standard deviation of the given sample using Equation 2.14.
(d)
To determine
Calculate the standard deviation using Equation 2.15.
(e)
To determine
The coefficient of variation.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
In one of its Spring catalogs, L.L. Bean advertised footwear on 29 of its 192 catalog pages. Suppose we randomly surgery 20 pages. We are interested in the number of pages that advertise footwear. Each page may be picked at most once. Calculate the standard deviation
A health expert evaluates the sleeping patterns of adults. Each
week she randomly selects 40 adults and calculates their
average sleep time. Over many weeks, she finds that 5% of
average sleep time is less than 3 hours and 5% of average
sleep time is more than 3.4 hours. What are the mean and
standard deviation (in hours) of sleep time for the population?
(Round "Mean" to 1 decimal places and "standard deviation"
to 3 decimal places.)
Mean
Standard deviation
The days to maturity for a sample of five money market funds are shown here. The dollar amounts invested in the funds are provided.
Days to
Maturity
Dollar Value
($ millions)
18
10
10
25
15
20
14
7
6
5
Use the weighted mean to determine the mean number of days to maturity for dollars invested in these five money market funds. Round your
answer to 2 decimal places.
days
Chapter 2 Solutions
Statistics for Business and Economics
Ch. 2.1 - Prob. 1ECh. 2.1 - Prob. 2ECh. 2.1 - Prob. 3ECh. 2.1 - Prob. 4ECh. 2.1 - Prob. 5ECh. 2.1 - Prob. 6ECh. 2.1 - Prob. 7ECh. 2.1 - Prob. 8ECh. 2.1 - A random sample of 156 grade point averages for...Ch. 2.1 - Prob. 10E
Ch. 2.2 - Prob. 12ECh. 2.2 - Prob. 13ECh. 2.2 - Prob. 14ECh. 2.2 - Prob. 15ECh. 2.2 - Prob. 16ECh. 2.2 - Prob. 17ECh. 2.2 - Prob. 18ECh. 2.2 - Prob. 19ECh. 2.2 - Prob. 20ECh. 2.2 - Prob. 21ECh. 2.2 - Prob. 22ECh. 2.2 - Prob. 23ECh. 2.2 - Prob. 24ECh. 2.3 - Prob. 26ECh. 2.3 - Prob. 27ECh. 2.3 - Prob. 28ECh. 2.3 - Prob. 29ECh. 2.3 - Prob. 30ECh. 2.3 - Prob. 31ECh. 2.3 - Prob. 32ECh. 2.3 - Prob. 33ECh. 2.3 - Prob. 34ECh. 2.4 - Prob. 35ECh. 2.4 - Prob. 36ECh. 2.4 - Prob. 37ECh. 2.4 - Prob. 38ECh. 2.4 - Acme Delivery offers three different shipping...Ch. 2.4 - Prob. 40ECh. 2.4 - Prob. 42ECh. 2.4 - Prob. 43ECh. 2 - Prob. 44ECh. 2 - Prob. 46ECh. 2 - Prob. 47ECh. 2 - Prob. 49ECh. 2 - Prob. 50ECh. 2 - Prob. 51ECh. 2 - Prob. 52ECh. 2 - Prob. 55ECh. 2 - Prob. 56E
Knowledge Booster
Similar questions
- 18. An insurance agent has claimed that the average age of policy-holders who insure through him is less than the average for all agents, which is 30-5 years. A random sample of 100 policy-holders who had insured through him gave the following age distribution : Age last birthday 16-20 21-25 26-30 31-35 36-40 No. of persons 12 22 20 30 16 : Calculate the arithmetic mean and standard deviation of this distribution and use these values to test his claim at the 5% level of significance. You are given that Z (1-645) = (0-95.arrow_forwardG. Thumb, the leading salesperson for the Moe D. Lawn Landscaping Company, turned in the following summary of sales for the week of October 23–28: Date No. of Clients Oct. 23 13 Oct. 24 8 Oct. 25 10 Oct. 26 15 Oct. 27 10 Oct. 28 22 Find the mean, median, and mode. (If an answer does not exist, enter DNE.) mean clients median clients mode clientsarrow_forwardThe reliability of an estimator is assessed in terms of its _____. Select one: a. mean b. ease of computation c. coefficient of variation d. variancearrow_forward
- Waiting times (in minutes) of customers in a bank where all customers enter a single waiting line and a bank where customers wait in individual lines at three different teller windows are listed below. Find the mean and median for each of the two samples, then compare the two sets of results. Single Line Individual Lines 6.4 4.3 6.6 5.5 6.7 5.8 minutes. 6.8 6.3 7.1 6.5 C 7.2 7.8 7.6 7.8 7.8 8.7 The mean waiting time for customers in a single line is The median waiting time for customers in a single line is The mean waiting time for customers in individual lines is minutes. minutes. minutes. The median waiting time for customers in individual lines is Determine whether there is a difference between the two data sets that is not apparent from a comparison of the measures of center. If so, what is it? O A. The times for customers in a single line are much more varied than the times for customers in individual lines. O B. The times for customers in individual lines are much more varied…arrow_forwardQuestion: It is known that the mean diameters of rivets produced by two firms A and B are practically the same but the standard deviations may differ. For 22 rivets produced by firm A, the standard deviation is 2.9 mm. while for 16 rivets manufactured by firm B, the standard deviation is 3-8 mm. Compute the statistic would use to test whether the you products of firm A have the same variability as those of firm B and test its significance?arrow_forwardll by adding 5 to each of the numbers in the set 3.6 117 7 1 we obtain the set 8, 116, 12, 10 Show that the two sets have the standard deviation Same deviation but different means How are the mean related ?arrow_forward
- Consider a sample with data values of 26, 24, 23, 15, 32, 36, 28, and 24. Compute the range, interquartile range, variance, and standard deviation. Round to 2 decimals, if necessary. Range Interquartile range Variance Standard deviationarrow_forwardd) Suppose this is a representative sample of births in a given year at Johns Hopkins. Suppose, instead of a sample of seven values, we have a sample of 100 birth weights. How should the mean, median, and standard deviation of this sample compare to the same statistics for the sample of seven birth weights?arrow_forwardA department-store manager is interested in the number of complaints received by the customer-service department about the quality of electrical products sold by the store. Records over a 5-week period show the following number of complaints for each week: 13 15 8 16 8 a. Compute the mean number of weekly complaints.b. Calculate the median number of weekly complaints. c. Find the mode.arrow_forward
- Data point X value is 120 Data point Y value is 300 Data point Z value is 285 What is the mean?arrow_forwardJack is a discus thrower and hopes to make it to the Olympics some day. He has researched the distance (in meters) of each men's gold medal discus throw from the Olympics from 1920 to 1964. Below is the equation of the line of best fit Jack found. y=0.34x+44.63y=0.34x+44.63 When calculating his line of best fit, Jack let x represent the number of years since 1920 (so x=0 represents 1920 and x=4 represents 1924). Using the line of best fit, estimate the distance Jack should be able to throw in order to be able to win the 2020 Olympics.arrow_forwardDefine Sampling Distribution of the OLS Estimator?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