Statistics for Management and Economics (Book Only)
11th Edition
ISBN: 9781337296946
Author: Gerald Keller
Publisher: Cengage Learning
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Question
Chapter 5.2, Problem 6E
To determine
Reasons for the difference in size between a sample and population.
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Students have asked these similar questions
Each of a sample of 176 residents selected from a small town is asked how much money he or she spent last week on state lottery tickets. 130 of the residents
responded with $0. The mean expenditure for the remaining residents was $21. The largest expenditure was $210.
Step 3 of 5: What is the mode of the data?
A quality engineer in charge of a coffee filter pack production line was concerned about
the weight (in grams) of the filter packs being produced. The quality team sampled three
packs every hour, throughout the production day. The table below shows the results:
Sample
number
1
2
3
4
5
6
7
20.6
20.1
20.6
21.5
21.4
21.1
21.4
Weight (g)
21.1
20.0
21.2
22.2
21.1
22.3
20.9
20.7
20.3
21.3
21.4
19.9
19.9
21.1
b) A small-town mechanic says that 8% his customers come in for an oil change. When
1000 samples were drawn from his records, it was found that 6.5% of these came in for
an oil change.
What is the target population?
Does the value 8% refer to the parameter or to the statistic?
Is the value 6.5% a parameter or a statistic?
i.
ii.
iii.
Chapter 5 Solutions
Statistics for Management and Economics (Book Only)
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- 7. A television station wishes to study the relationship between viewership of its 11 p.m. news program and viewer age (18 years or less, 19 to 35, 36 to 54, 55 or older). A sample of 250 television viewers in each age group is randomly selected, and the number who watch the station’s 11 p.m. news is found for each sample. The results are given in the table below.arrow_forwardAn automotive manufacturer wants to know the proportion of new car buyers who prefer foreign cars over domestic. Step 1 of 2 : Suppose a sample of 1313 new car buyers is drawn. Of those sampled, 341 preferred foreign over domestic cars. Using the data, estimate the proportion of new car buyers who prefer foreign cars. Enter your answer as a fraction or a decimal number rounded to three decimal places.arrow_forwardEach of a sample of 176 residents selected from a small town is asked how much money he or she spent last week on state lottery tickets. 130 of the residents responded with $0. The mean expenditure for the remaining residents was $21. The largest expenditure was $210. Step 5 of 5: What proportion of the sample did not purchase any lottery tickets? Express your answer as a simplified fraction or as a value rounded to one decimal place.arrow_forward
- PLEASE ANSWER CORRECTLY FULLY MAKE SURE THE ANSWER IS 100% RIGHT NO MISTAKES PLEASEarrow_forwardA study conducted at Virginia Commonwealth University in Richmond indicates that many older individuals can shed insomnia through psychological training. A total of 63 insomnia sufferers averaging age 67 years old completed eight weekly sessions of cognitive-behavior therapy. After the therapy, 31 participants enjoyed a substantially better night's sleep. Calculate the sample proportion of insomnia sufferers who did not enjoy a better night's sleep after the therapy. Round your answer to three decimal places, if necessary.arrow_forwardThe birthweight (in kg) of 55 babies are tabulated in the frequency distribution below: Birthweight (kg) Class Midpoint Frequency M (1– 1.5| (1.5-2 1.25 6. 1.75 10 (2- 2.5) 2.25 1 (2.5-3) 2.75 15 10 (3-3.5] 3.25 3. (3.5- 4) 3.75 55 Total Calculate the relative frequency of the class interval (2 - 2.5).arrow_forward
- Explain in details the importance of collecting a representative sample to answer a question about a populationarrow_forwardSelect the scenario which is an example of voluntary sampling. Answer Keypad Keyboard Shortcuts Tables An airline is interested in getting feedback about their on-board catering experience. They place a questionnaire in the pocket behind each airline seat for passengers to O fill out. An urban planner is interested in determining the traffic volume along a particular road. To estimate the traffic volume, he counts the number of cars that go by during the next 30 minutes. O To determine the mean domestic electricity consumption in the region, the electric company collects data from randomly selected households in the given region. A fitness center has 400 male clients and 300 female clients. They plan to buy new equipment, so they randomly select 80 male clients and 60 female clients and ask them what equipment they use the most.arrow_forwardQuestion One a) The University of the East Europe is interested in the overall performance of its students in the academic year 2020/2021. There were 1460 students registered for this academic year. The University decides to select a sample of 150 students from each of the 5 faculties- Science, Medicine, Law, Social Science and Humanities in proportion to the number of students in each faculty. Identify the population of interest for this scenario. ii. i. Identify the sampling technique used by the researcher. State one advantage and one disadvantage of the sampling technique described in the given scenario. If the medical faculty has 584 students registered, calculate how many medical students would be part of the sample of 150. iii. iv.arrow_forward
- Supposed a study using a random sample of postgraduate students in Sydney found that the average amount of time spent using a mobile phone per day is 5.5 hours. Indicate whether the quantity described above is a population parameter or a sample statistic, and write down the notation. Hints: You may type in how you read the notation, instead of using the symbol itself. E,g. you can write "mu" or "xbar" or "phat" or "rho" or "sigma" for the Greek alphabet or special symbol.arrow_forwardYou need to research about (Personal finance management) using a sample . Describe the steps to be taken in order to use the stratified sampling technique .arrow_forwardFocusing on government spending as a percentage of GDP in the U.S., we observed that between 1820 and 1929 the: minimum value was 3.13%; mean value was 6.83%; and maximum value was 29.03%. In contrast, between 1930 and 2021 , the a) None of the above answers are correct. B) maximum value was 10.94%.c) minimum value was 2.12%. D) mean value was 30.56%. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.arrow_forward
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