Statistics for Business & Economics, Revised (MindTap Course List)
12th Edition
ISBN: 9781285846323
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Textbook Question
Chapter 4.5, Problem 45E
In an article about investment alternatives, Money magazine reported that drug stocks provide a potential for long-term growth, with over 50% of the adult population of the United States taking prescription drugs on a regular basis. For adults age 65 and older, 82% take prescription drugs regularly. For adults age 18 to 64, 49% take prescription drugs regularly. The 18–64 age group accounts for 83.5% of the adult population (Statistical Abstract of the United States, 2008).
- a. What is the
probability that a randomly selected adult is 65 or older? - b. Given an adult takes prescription drugs regularly, what is the probability that the adult is 65 or older?
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Total DVD and Blu-ray disc sales in 2009 were $8.72 billion. For the purposes of this problem, you will combine DVD and Blue-ray disk sales into one category of DVD sales. A study by In-Stat predicted that "physical disc sales will decline by $4.7 billion by 2014," and that "streaming, on the other hand, should grow from its current $2.2 billion to $6.3 billion over the same time period (2009–2014)
a. What is the slope, including units, of the model for DVD sales?
Write a statement interpreting the meaning of the slope in the context of the problem.
b. Write an equation that represents the linear model for DVD sales. Let D = the sales of DVDs in billions of dollars, and t = the number of years after 2009.
c. What is the slope, including units, of the model for streaming videos?
Disposable income is the amount left after taxes have been paid and is one measure of the health of the economy. The following table gives the total U.S. disposable income (in billions of 2005 dollars) for selected years from 2010 and projected to 2040.
Year
2010
2015
2020
2025
2030
2035
2040
Income (billions) $10,017 $11,120 $12,655 $14,259 $15,948 $17,752 $19,785
(a) Use x as the number of years past 2010 and write the equation of the quadratic function that best models these data. (Round all numerical values to one decimal places.)
y(x) =
(b) What does the model predict for the disposable income (in billions of dollars) in 2025? (Round your answer to one decimal place.)
billion dollars
Total DVD and Blu-ray disc sales in 2009 were $8.72 billion. For the purposes of this problem, you will combine DVD and Blue-ray disk sales into one category of DVD sales. A study by In-Stat predicted that "physical disc sales will decline by $4.7 billion by 2014," and that "streaming, on the other hand, should grow from its current $2.2 billion to $6.3 billion over the same time period (2009–2014).
d. Write an equation that represents the linear model for streaming videos. Let S = the total sales of streaming videos in billions of dollars, and t = the number of years after 2009.
e. In what year do the models predict streaming video sales to exceed DVD sales?
Chapter 4 Solutions
Statistics for Business & Economics, Revised (MindTap Course List)
Ch. 4.1 - An experiment has three steps with three outcomes...Ch. 4.1 - How many ways can three items be selected from a...Ch. 4.1 - How many permutations of three items can be...Ch. 4.1 - Consider the experiment of tossing a coin three...Ch. 4.1 - Suppose an experiment has five equally likely...Ch. 4.1 - An experiment with three outcomes has been...Ch. 4.1 - A decision maker subjectively assigned the...Ch. 4.1 - In the city of Milford, applications for zoning...Ch. 4.1 - Simple random sampling uses a sample of size n...Ch. 4.1 - Many students accumulate debt by the time they...
Ch. 4.1 - The National Occupant Protection Use Survey...Ch. 4.1 - The Powerball lottery is played twice each week in...Ch. 4.1 - A company that manufactures toothpaste is studying...Ch. 4.2 - An experiment has four equally likely outcomes:...Ch. 4.2 - Consider the experiment of selecting a playing...Ch. 4.2 - Consider the experiment of rolling a pair of dice....Ch. 4.2 - Refer to the KPL sample points and sample point...Ch. 4.2 - To investigate how often families eat at home,...Ch. 4.2 - Do you think the government protects investors...Ch. 4.2 - Fortune magazine publishes an annual list of the...Ch. 4.2 - Data on U.S. work-related fatalities by cause...Ch. 4.3 - Suppose that we have a sample space with five...Ch. 4.3 - Suppose that we have a sample space S = {E1, E2,...Ch. 4.3 - Clarkson University surveyed alumni to learn more...Ch. 4.3 - The U.S. Census Bureau provides data on the number...Ch. 4.3 - Information about mutual funds provided by...Ch. 4.3 - What NCAA college basketball conferences have the...Ch. 4.3 - A survey of magazine subscribers showed that 45.8%...Ch. 4.3 - High school seniors with strong academic records...Ch. 4.4 - Suppose that we have two events, A and B, with...Ch. 4.4 - Assume that we have two events, A and B, that are...Ch. 4.4 - The automobile industry sold 657,000 vehicles in...Ch. 4.4 - Students taking the Graduate Management Admissions...Ch. 4.4 - The U.S. Department of Transportation reported...Ch. 4.4 - According to the Ameriprise Financial Money Across...Ch. 4.4 - Jamal Crawford of the National Basketball...Ch. 4.4 - Visa Card USA studied how frequently young...Ch. 4.4 - Students in grades 3 through 8 in New York State...Ch. 4.5 - The prior probabilities for events A1 and A2 are...Ch. 4.5 - The prior probabilities for events A1, A2, and A3...Ch. 4.5 - A consulting firm submitted a bid for a large...Ch. 4.5 - A local bank reviewed its credit card policy with...Ch. 4.5 - Two Wharton professors analyzed 1,613,234 putts by...Ch. 4.5 - According to the Open Doors 2011 Report, 9.5% of...Ch. 4.5 - In an article about investment alternatives, Money...Ch. 4 - The Wall Street Journal/Harris Personal Finance...Ch. 4 - A financial manager made two new investmentsone in...Ch. 4 - Forty-three percent of Americans use social media...Ch. 4 - A study of 31,000 hospital admissions in New York...Ch. 4 - A telephone survey to determine viewer response to...Ch. 4 - The following crosstabulation shows household...Ch. 4 - An MBA new-matriculants survey provided the...Ch. 4 - Refer again to the data from the MBA...Ch. 4 - In February 2012, the Pew Internet American Life...Ch. 4 - A large consumer goods company ran a television...Ch. 4 - Cooper Realty is a small real estate company...Ch. 4 - A company studied the number of lost-time...Ch. 4 - A survey showed that 8% of Internet users age 18...Ch. 4 - An oil company purchased an option on land in...Ch. 4 - The five most common words appearing in spam...Ch. 4 - Hamilton County Judges Hamilton County judges try...
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