7th Edition

ISBN: 9781111792374

Author: WEIERS

Publisher: Cengage Learning

Concept explainers

The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of tw…

Mean, Median, Mode

It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency o…

Z-Scores

A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow compar…

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Textbook Question

Chapter 10.5, Problem 10.48E

During 2008, college work-study students earned a mean of $1478. Assume that a sample consisting of 45 of the work-study students at a large university was found to have earned a mean of $1503 during that year, with a standard deviation of $210. Would a one-tail test
at the 0.05 level suggest the average earnings of this university’s work-study students were significantly higher than the national mean? Source: Bureau of the Census, StatisticalAbstract of the United States 2009, p. 178.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 10.5, Problem 10.47E

Chapter 10.5, Problem 10.49E

Chapter 10 Solutions

Introduction to Business Statistics

Ch. 10.1 - The president of a company that manufactures...Ch. 10.1 - Following a major earthquake, the city engineer...Ch. 10.3 - Prob. 10.28E Ch. 10.3 - In the past, patrons of a cinema complex have...Ch. 10.3 - Following maintenance and calibration, an...Ch. 10.3 - A manufacturer of electronic kits has found that...Ch. 10.3 - A machine that fills shipping containers with...Ch. 10.5 - Prob. 10.40E Ch. 10.5 - The average age of passenger cars in use in the...Ch. 10.5 - During 2008, college work-study students earned a...

Ch. 10.5 - In response to an inquiry from its national...Ch. 10 - Prob. 10.104CE

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