EBK STATISTICAL TECHNIQUES IN BUSINESS
EBK STATISTICAL TECHNIQUES IN BUSINESS
17th Edition
ISBN: 9781259924163
Author: Lind
Publisher: MCGRAW HILL BOOK COMPANY
bartleby

Concept explainers

bartleby

Videos

Question
Book Icon
Chapter 7, Problem 57CE

a.

To determine

Find the likelihood that 32 or more consider nutrition important.

a.

Expert Solution
Check Mark

Answer to Problem 57CE

The likelihood that 32 or more consider nutrition important is 0.9678.

Explanation of Solution

In order to qualify as a binomial problem, it must satisfy the following conditions.

  • There are only two mutually exclusive outcomes, nutrition is a top priority in their lives and nutrition is not a top priority in their lives.
  • The number of trials is fixed, that is 60 men.
  • The probability is constant for each trial, which is 0.64.
  • The trials are independent of each other.

Thus, the problem satisfies all the conditions of a binomial distribution.

The mean can be obtained as follows:

μ=nπ=60(0.64)=38.4

The expected number of men who feel nutrition is important is 38.4.

The standard deviation can be obtained as follows:

σ=nπ(1π)=60(0.64)(10.64)=60(0.64)(0.36)=13.824

   =3.72   

The standard deviation of men who feel nutrition is important is 3.72.

The conditions for normal approximation to the binomial distribution are checked below:

The number of men (n) is 60 and probability that nutrition is a top priority in their lives. (π) is 0.64.

Condition 1:

nπ=60(0.64)=38.4>5

The condition 1 is satisfied.

Condition 2:

n(1π)=60(10.64)=60(0.36)=21.6>5

The condition 2 is satisfied.

The conditions 1 and 2 for normal approximation to the binomial distribution are satisfied.

Let the random variable X be the number of number of men who consider nutrition important, which follows normal distribution with population mean μ as 38.4 men and population standard deviation σ as 3.72 men.

The likelihood that 32 or more consider nutrition important can be obtained as follows:

P(X32)=P(X320.5)      [Apply the continuity correction factor]=P(X>31.5)=1P(Xμσ<31.538.43.72)=1P(Xμσ<6.93.72)

               =1P(Z<1.85)

Step-by-step procedure to obtain probability of Z less than –1.85 using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function. Then from category box, select Statistical and below that NORM.S.DIST.
  • Click OK.
  • In the dialog box, Enter Z value as –1.85.
  • Enter Cumulative as TRUE.
  • Click OK, the answer appears in Spreadsheet.

The output obtained using Excel is represented as follows:

EBK STATISTICAL TECHNIQUES IN BUSINESS, Chapter 7, Problem 57CE , additional homework tip  1

From the above output, the probability of Z less than –1.85 is 0.0322.

Now consider the following:

P(X32)=1P(Z<1.85)=10.0322=0.9678

Therefore, the likelihood that 32 or more consider nutrition important is 0.9678.

b.

To determine

Find the likelihood that 44 or more consider nutrition important.

b.

Expert Solution
Check Mark

Answer to Problem 57CE

The likelihood that 44 or more consider nutrition important is 0.0853.

Explanation of Solution

The likelihood that 44 or more consider nutrition important can be obtained as follows:

P(X44)=P(X440.5)      [Apply the continuity correction factor]=P(X>43.5)=1P(Xμσ<43.538.43.72)=1P(Xμσ<5.13.72)

               =1P(Z<1.37)

Step-by-step procedure to obtain probability of Z less than 1.37 using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function. Then from category box, select Statistical and below that NORM.S.DIST.
  • Click OK.
  • In the dialog box, Enter Z value as 1.37.
  • Enter Cumulative as TRUE.
  • Click OK, the answer appears in Spreadsheet.

The output obtained using Excel is represented as follows:

EBK STATISTICAL TECHNIQUES IN BUSINESS, Chapter 7, Problem 57CE , additional homework tip  2

From the above output, the probability of Z less than 1.37 is 0.9147.

Now consider the following:

P(X44)=1P(Z<1.37)=10.9147=0.0853

Therefore, the likelihood that 44 or more consider nutrition important is 0.0853.

c.

To determine

Find the probability that more than 32 but fewer than 43 consider nutrition important.

c.

Expert Solution
Check Mark

Answer to Problem 57CE

The probability that more than 32 but fewer than 43 consider nutrition important is 0.8084.

Explanation of Solution

The probability that more than 32 but fewer than 43 consider nutrition important can be obtained as follows:

P(32<X<43)=P(32+0.5<X430.5)      [Apply the continuity correction factor]=P(32.5<X<42.5)=P(X<42.5)P(X<32.5) =P(Xμσ<42.538.43.72)P(Xμσ<3238.43.72)

                        =P(Z<1.10)P(Z<1.59)

Step-by-step procedure to obtain probability of Z less than 1.10 using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function. Then from category box, select Statistical and below that NORM.S.DIST.
  • Click OK.
  • In the dialog box, Enter Z value as 1.10.
  • Enter Cumulative as TRUE.
  • Click OK, the answer appears in Spreadsheet.

The output obtained using Excel is represented as follows:

EBK STATISTICAL TECHNIQUES IN BUSINESS, Chapter 7, Problem 57CE , additional homework tip  3

From the above output, the probability of Z less than 1.10 is 0.8643.

Step-by-step procedure to obtain probability of Z less than –1.59 using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function. Then from category box, select Statistical and below that NORM.S.DIST.
  • Click OK.
  • In the dialog box, Enter Z value as –1.59.
  • Enter Cumulative as TRUE.
  • Click OK, the answer appears in Spreadsheet.

The output obtained using Excel is represented as follows:

EBK STATISTICAL TECHNIQUES IN BUSINESS, Chapter 7, Problem 57CE , additional homework tip  4

From the above output, the probability of Z less than –1.59 is 0.0559.

Now consider,

P(32<X<43)=P(Z<1.10)P(Z<1.59)=0.86430.0559=0.8084

Therefore, the probability that more than 32 but fewer than 43 consider nutrition important is 0.8084.

d.

To determine

Find the probability that exactly 44 consider diet important.

d.

Expert Solution
Check Mark

Answer to Problem 57CE

The probability that exactly 44 consider diet important is 0.0348.

Explanation of Solution

The probability that exactly 44 consider diet important can be obtained as follows:

P(X=44)=P(440.5X44+0.5)      [Apply the continuity correction factor]=P(43.5<X<44.5)=P(X<44.5)P(X<43.5) =P(Xμσ<44.538.43.72)P(Xμσ<43.538.43.72)

               =P(Z<1.64)P(Z<1.37)

Step-by-step procedure to obtain probability of Z less than 1.64 using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function. Then from category box, select Statistical and below that NORM.S.DIST.
  • Click OK.
  • In the dialog box, Enter Z value as 1.64.
  • Enter Cumulative as TRUE.
  • Click OK, the answer appears in Spreadsheet.

The output obtained using Excel is represented as follows:

EBK STATISTICAL TECHNIQUES IN BUSINESS, Chapter 7, Problem 57CE , additional homework tip  5

From the above output, the probability of Z less than 1.64 is 0.9495.

Step-by-step procedure to obtain probability of Z less than 1.37 using Excel:

  • Click on the Formulas tab in the top menu.
  • Select Insert function. Then from category box, select Statistical and below that NORM.S.DIST.
  • Click OK.
  • In the dialog box, Enter Z value as 1.37
  • Enter Cumulative as TRUE.
  • Click OK, the answer appears in Spreadsheet.

The output obtained using Excel is represented as follows:

EBK STATISTICAL TECHNIQUES IN BUSINESS, Chapter 7, Problem 57CE , additional homework tip  6

From the above output, the probability of Z less than 1.37 is 0.9147.

Now consider,

P(X=44)=P(Z<1.64)P(Z<1.37)=0.94950.9147=0.0348

Therefore, the probability that exactly 44 consider diet important is 0.0348.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Chapter 7 Solutions

EBK STATISTICAL TECHNIQUES IN BUSINESS

Ch. 7 - List the major characteristics of a normal...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - The Kamp family has twins, Rob and Rachel. Both...Ch. 7 - Prob. 12ECh. 7 - The temperature of coffee sold at the Coffee Bean...Ch. 7 - A normal population has a mean of 20.0 and a...Ch. 7 - A normal population has a mean of 12.2 and a...Ch. 7 - A recent study of the hourly wages of maintenance...Ch. 7 - The mean of a normal probability distribution is...Ch. 7 - Prob. 5SRCh. 7 - Prob. 17ECh. 7 - A normal population has a mean of 80.0 and a...Ch. 7 - Prob. 19ECh. 7 - Prob. 20ECh. 7 - WNAE, an all-news AM station, finds that the...Ch. 7 - Prob. 22ECh. 7 - Prob. 6SRCh. 7 - A normal distribution has a mean of 50 and a...Ch. 7 - Prob. 24ECh. 7 - Prob. 25ECh. 7 - Prob. 26ECh. 7 - Prob. 27ECh. 7 - Prob. 28ECh. 7 - Prob. 29ECh. 7 - Prob. 30ECh. 7 - Prob. 7SRCh. 7 - Prob. 31ECh. 7 - Prob. 32ECh. 7 - Prob. 33ECh. 7 - Prob. 34ECh. 7 - Prob. 35ECh. 7 - Prob. 36ECh. 7 - Prob. 8SRCh. 7 - Prob. 37ECh. 7 - The lifetime of LCD TV sets follows an exponential...Ch. 7 - Prob. 39ECh. 7 - Prob. 40ECh. 7 - Prob. 41CECh. 7 - Prob. 42CECh. 7 - Prob. 43CECh. 7 - Prob. 44CECh. 7 - Prob. 45CECh. 7 - Prob. 46CECh. 7 - Prob. 47CECh. 7 - Prob. 48CECh. 7 - Shaver Manufacturing Inc. offers dental insurance...Ch. 7 - The annual commissions earned by sales...Ch. 7 - Prob. 51CECh. 7 - Prob. 52CECh. 7 - Management at Gordon Electronics is considering...Ch. 7 - Fast Service Truck Lines uses the Ford Super Duty...Ch. 7 - Prob. 55CECh. 7 - Prob. 56CECh. 7 - Prob. 57CECh. 7 - Prob. 58CECh. 7 - Prob. 59CECh. 7 - Prob. 60CECh. 7 - Prob. 61CECh. 7 - Prob. 62CECh. 7 - The weights of canned hams processed at Henline...Ch. 7 - Prob. 64CECh. 7 - Prob. 65CECh. 7 - The price of shares of Bank of Florida at the end...Ch. 7 - Prob. 67CECh. 7 - Prob. 68CECh. 7 - Prob. 69CECh. 7 - Prob. 70CECh. 7 - Prob. 71CECh. 7 - Prob. 72CECh. 7 - Prob. 73CECh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - Prob. 6PCh. 7 - Prob. 1.1PTCh. 7 - Prob. 1.2PTCh. 7 - Prob. 1.3PTCh. 7 - Prob. 1.4PTCh. 7 - Prob. 1.5PTCh. 7 - Prob. 1.6PTCh. 7 - Which of the following is NOT a requirement of the...Ch. 7 - Prob. 1.8PTCh. 7 - How many standard normal distributions are there?...Ch. 7 - Prob. 1.10PTCh. 7 - Prob. 1.11PTCh. 7 - Prob. 1.12PTCh. 7 - Prob. 1.13PTCh. 7 - Prob. 1.14PTCh. 7 - Prob. 1.15PTCh. 7 - Prob. 2.1PTCh. 7 - Prob. 2.2PTCh. 7 - Prob. 2.3PTCh. 7 - Prob. 2.4PTCh. 7 - Prob. 2.5PTCh. 7 - Prob. 2.6PTCh. 7 - Prob. 2.7PT
Knowledge Booster
Background pattern image
Statistics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Text book image
Holt Mcdougal Larson Pre-algebra: Student Edition...
Algebra
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Text book image
Calculus For The Life Sciences
Calculus
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:Pearson Addison Wesley,
Text book image
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Text book image
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Statistics 4.1 Point Estimators; Author: Dr. Jack L. Jackson II;https://www.youtube.com/watch?v=2MrI0J8XCEE;License: Standard YouTube License, CC-BY
Statistics 101: Point Estimators; Author: Brandon Foltz;https://www.youtube.com/watch?v=4v41z3HwLaM;License: Standard YouTube License, CC-BY
Central limit theorem; Author: 365 Data Science;https://www.youtube.com/watch?v=b5xQmk9veZ4;License: Standard YouTube License, CC-BY
Point Estimate Definition & Example; Author: Prof. Essa;https://www.youtube.com/watch?v=OTVwtvQmSn0;License: Standard Youtube License
Point Estimation; Author: Vamsidhar Ambatipudi;https://www.youtube.com/watch?v=flqhlM2bZWc;License: Standard Youtube License