Essentials Of Statistics
4th Edition
ISBN: 9781305093836
Author: HEALEY, Joseph F.
Publisher: Cengage Learning,
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Chapter 3, Problem 3.15P
Professional athletes are threatening to strike because they claim that they are underpaid. The team owners have released a statement that says, in part, “The average salary for players was $1.2 million last year.” The players counter by issuing their own statement that says, in part, “The typical player earned only $753,000 last year.” Is either side necessarily lying? If you were a sports reporter and had just read Chapter 3 of this text, what questions would you ask about these statistics?
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A company has 30 employees, including a director. The lowest salary among the 30 employees is $22,000. The director’s salary is $180,000, which is more than twice as much as anyone else’s salary. Decide for each of the following statements about the 30 salaries whether it is true, false, or you cannot tell on the basis of the information at hand.
• The median salary is below $60,000.• The average salary is below $60,000.• If all salaries are increased by $1,000, that adds $1,000 to the average.• If the director’s salary is doubled, and all other salaries remain the same, that increases the average salary.• If the director’s salary is doubled, and all other salaries remain the same, that increases the median salary.• The standard deviation of the salaries is larger than $180,000
….……………….……………………...
..………..…..
In an effort to reduce its inventory, a warehouse runs a sale on its least popular Blu-ray discs. The sales rate (discs sold per day) on day t of the sale is predicted to be 70/t (for t≥ 1), where t = 1
corresponds to the beginning of the sale, at which time none of the inventory of 200 discs had been sold.
(a) Find a formula for the total number of discs sold up to day t.
C(t) =
(b) Will the store have sold its inventory of 200 discs by day t = 70?
Yes
O No
Some Democrats called for doubling the federal minimum wage. In response, a Republican says, “The Democrats think that everyone should have the same income.”
what is the Premise?
What is the Conclusion?
Chapter 3 Solutions
Essentials Of Statistics
Ch. 3 - SOCA variety of information has been gathered from...Ch. 3 - A variety of information has been collected for...Ch. 3 - You have been observing the local Democratic Party...Ch. 3 - The following table presents the annual...Ch. 3 - SOC Data have been gathered on four variables for...Ch. 3 - SOC The following tables list the median family...Ch. 3 - Find the appropriate measure of central tendency...Ch. 3 - SOC The accompanying table gives scores on four...Ch. 3 - SOC The college administration is considering a...Ch. 3 - SOC As the head of a social services agency, you...
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- 1. You are the wage earner in a "typical family" with a $58,000 gross annual income. Use the easy method to determine how much insurance you should carry. (LO10.1)arrow_forwardA Car Dealership survey asked 46 questions about a buyer's characteristics and interests. State whether each of the following questions provides categorical or quantitative data. Explain why do you think these questions were relevant? a. What is your age? b. Are you male or female? c. How long have you been in your present job or position? d. When did you buy your first car? College, Early Career, Mid-Career, or Late-Career? e. What type of vehicle are you considering for your next purchase? f. Nine response categories include a sedan, sports car, SUV, minivan, and so on.arrow_forwardBefore lending someone money, banks must decide whether they believe the applicant will repay the loan. One strategy used is a point system. Loan officers assess information about the applicant, totaling points they award for the person's income level, credit history, current debt burden, and so on. The higher the point total, the more convinced the bank is that it's safe to make the loan. Any applicant with a lower point total than a certain cutoff score is denied a loan. Think of this decision as a hypothesis test. Since the bank makes its profit from the interest collected on repaid loans, their null hypothesis is that the applicant will repay the loan and therefore should get the money. Only if the person's score falls below the minimum cutoff will the bank reject the null and deny the loan. Complete parts a through c below. a) In this context, what i meant by the power of the test? O A. The power is the probability that the bank denies loạn that would have been repaid. O B. The…arrow_forward
- 1. Francesca's gross pay for her pay period was $3,400. How much of her earnings were withheld for Medicare? $32.50 $49.30 $93.75 $29.06 OOO +arrow_forwardFrom some financial statistics, it is found that the monthly average electricial charges was 2,460 and S.D. Rs. 120. The monthly average direct wages was Rs. 42,000 and S.D. Rs. 1,200. State which is the more variable with proper reasons.arrow_forwardWorker1 makes $30 an hour, and worker2 makes $50,000 per year. Assuming they both work "9 to 5" type hours and with 2 weeks vacation a year. Who makes more money? A. Worker1 makes $40,000. So, worker2 makes more (by about $10,000). B. Worker1 makes $60,000. So, worker2 makes more (by about $10,000). C. Worker1 makes $60,000. So, worker1 makes more (by about $10,000). D. Worker1 makes $40,000. So, worker1 makes more (by about $10,000).arrow_forward
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