Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
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Chapter 1, Problem 8CE
To determine
Sample statistics
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Alejandro is selling HDMI cables on eBay, and is trying to determine the best price to sell at. For the last 10 weeks, he has adjusted his price slightly each week and tracked the number of cables he sold. He plotted the results, and drew a line he feels fits the data well.
Price ($) 3, 3.25, 3.5, 3.75, 4, 4.25, 4.5, 4.75, 5
Quantity Sold - 50, 100, 150, 200, 250
a) The line of best fit passes through the points (3.50, 230) and (4.75, 210). Find an equation for the line.
Use variables: p for price in dollars, and Q for quantity of cables sold.
b) Using this model, predict the number of cables Alejandro would sell at a price of $3.65, to the nearest whole cable.
cables
A random sample of 1-gallon cartons of milk is selected from the automatic filling machine. The contents are precisely measured. The measurements are shown to the right. The measurements are in ounces (1 gallon = 128 oz.)
127.46
129.83
129.51
129.75
128.45
127.34
129.18
127.29
127.28
128.46
127.7
130.87
128.04
125.76
127.77
126.72
127.58
128.5
127.37
128.08
127.51
127.66
129.78
128.42
126.35
126.34
128.53
128.48
15
The sum of the fill of the sample containers is,
a
3586.01
b
3481.56
c
3380.16
d
3281.71
A random sample of 1-gallon cartons of milk is selected from the automatic filling machine. The contents are precisely measured. The measurements are shown to the right. The measurements are in ounces (1 gallon = 128 oz.)
127.46
129.83
129.51
129.75
128.45
127.34
129.18
127.29
127.28
128.46
127.7
130.87
128.04
125.76
127.77
126.72
127.58
128.5
127.37
128.08
127.51
127.66
129.78
128.42
126.35
126.34
128.53
128.48
16
The mean fill of the sample of containers is,
a
131.95
b
130.65
c
129.35
d
128.07
Chapter 1 Solutions
Statistics for Management and Economics (Book Only)
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- Note: the answer should be typed. And Answer with 100% accuracy.arrow_forwardShow calculation with correct answerarrow_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_forward
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