Mathematics: A Practical Odyssey
8th Edition
ISBN: 9781305104174
Author: David B. Johnson, Thomas A. Mowry
Publisher: Cengage Learning
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Chapter 11.2, Problem 20E
To determine
To Find:
The reason for describing a Markov chain in the given data.
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2.6 Global credit cards. There are currently six global credit
card companies that allow worldwide usage-Visa, Mastercard,
American Express, UnionPay, JCB, and Discover. The table
gives a breakdown on the number of purchase transactions
for each company in 2018.
GLOBALCC
Credit Card
Visa
Mastercard
American Express
UnionPay
JCB
Discover
Number of Worldwide
Transactions (billions)
147.9
75.8
7.5
58.6
3.4
2.5
Source: The Nilson Report, January 2, 2020
a. One of the worldwide credit card transactions in 2018
is selected at random, and the credit card company is
determined. What type of data (quantitative or qualita-
tive) is measured?
b. For each credit card company in the table, calculate the
percentage of the 2018 worldwide transactions.
c. Use the percentages from part b to construct a relative
frequency bar graph for the data summarized in the table.
d. Based on the bar graph, make a statement about the
most used credit cards worldwide.
Suppose that you have 60 volunteers (30 Males and 30 Females) who are currently not in a relationship but wish to be so. Design a study (Make a block diagram) to answer the question: ”Does the new dating app help one find a more compatible match than no dating app?”
18. FILE DOW. The accompanying table shows a portion of the 30 companies that comprise the Dow Jones Industrial Average (DJIA). For each company, the data set lists the
year that it joined the DJIA, its industry, and its stock price (in $) as of February 15, 2019.
Company
3M (MMM)
American Express (AXP)
:
Year
1976
1982
⠀
2018
Industry
Health Care
Finance
⠀
Health Care
Price
208.9
107.4
⠀
73.43
Walgreen (WBA)
a. What is the measurement scale of the Industry variable?
b. What is the measurement scale of the Year variable? What are the strengths of this type of measurement scale? What are its weaknesses?
c. What is the measurement scale of the Price variable? What are the strengths of this type of measurement scale?
Chapter 11 Solutions
Mathematics: A Practical Odyssey
Ch. 11.0A - In Exercises 1-10, a find the dimensions of the...Ch. 11.0A - Prob. 2ECh. 11.0A - Prob. 3ECh. 11.0A - Prob. 4ECh. 11.0A - Prob. 5ECh. 11.0A - Prob. 6ECh. 11.0A - Prob. 7ECh. 11.0A - Prob. 8ECh. 11.0A - Prob. 9ECh. 11.0A - In Exercises 1-10, a find the dimensions of the...
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