The report “Undergraduate Students and Credit Cards in 2004: An Analysis of Usage Rates and Trends” (Nellie Mae, May 2005) estimated that 21% of undergraduates with credit cards pay them off each month and that the average outstanding balance on undergraduates’ credit cards is $2169. These estimates were based on an online survey that was sent to 1260 students. Responses were received from 132 of these students. Is it reasonable to generalize the reported estimates to the population of all undergraduate students? Address two possible sources of bias, and name the bias in your answer.

13. As part of its twenty-fifth reunion celebration, the class of 1988 at a state university held a reception on campus. In an informal survey, the director of alumni development asked 50 of the attendees about their incomes. The director computed the mean income of the 50 attendees to be $189,952. In a news release, the director announced, "the members of our class of 1988 enjoyed a resounding success. Last year's mean income of its members was $189,952!" a) what would be a statistical advantage of using the median of the reported incomes, rather than the mean, as the estimate of the typical income? b)The director felt the members who attended the reception may be different from the class as a whole. A more detailed survey of the class was planned to find a better estimate of the income as well as other facts about the alumni. The staff developed two methods based on the available funds to carry out a survey. Method 1: Send out an e-mail to all 6,826 members of the class asking them…

Consider the following data from a stock table on the company "Apple Inc."     Name Apple Inc.     Symbol APPL     Close $148.96     Day Range $146.76−$148.98     52-week Range $89.47−$148.98     Volume 27,327,725     P/E 17.88     Dividend $2.52     EPS $?     Calculate the earnings per share.

The following data were taken from the annual reports of Big Bang Inc., a manufacturer of fireworks, and Orange Inc., a manufacturer of computers.   Big Bang, Inc. Orange, Inc. Cost of goods sold $830,000 $11,540,000 Inventory, end of year 190,000 320,000 Inventory, beginning of year 240,000 290,000 What is the inventory turnover for Big Bang and Orange. a. Big Bang, Inc.: 3.86Orange, Inc.: 37.84 b. Big Bang, Inc.: 3.86Orange, Inc.: 9.65 c. Big Bang, Inc.: 94.55Orange, Inc.: 37.84 d. Big Bang, Inc.: 94.55Orange, Inc.: 9.65