Applied Business Statistics - Methods and Excel-based Applications 5th. Edition by Trevor Wegner | 9781485130505 | 1485130506 | Holooly

Statistical Mechanics

Applied Business Statistics - Methods and Excel-based Applications

97 SOLVED PROBLEMS

Question: 15.4

Racing Bicycle Sales Study A cycle shop recorded the quarterly sales of racing bicycles for the period 2009 to 2011, as shown in Table 15.5. (See Excel file C15.3 – bicycle sales.) ...

Verified Answer:

The resulting calculations are shown in Table 15.6...

Question: 12.1

Flat-screen TV Sales Study Music Technologies, an electronics retail company in Durban, has recorded the number of flat-screen TVs sold each week and the number of advertisements placed weekly for a period of 12 weeks. ...

Verified Answer:

Step 1: Identify the dependent and independent var...

Question: 7.2

Car Commuter Time Study From a random sample of 100 Cape Town car commuters, the sample mean time to commute to work daily was found to be 35.8 minutes. Assume that the population standard deviation is 11 minutes and that commuting times are normally distributed. (a) Set 95% confidence limits for ...

Verified Answer:

(a) Given

\bar{x}=35.8

minutes, [la...

Question: 5.5

Courier Service Delivery Time Study A courier service company has found that their delivery time of parcels to clients is normally distributed with a mean of 45 minutes (μ = 45) and a standard deviation of eight minutes (σ = 8). What is the probability that a randomly selected parcel: (a) will take ...

Verified Answer:

(a) Find P(45 < x < 51) Step 1: Always sketc...

Question: 5.3

Web-based Marketing Study A web-based travel agency uses its website to market its travel products (holiday packages). The agency receives an average of five web-based enquiries per day for its different travel products. (a) What is the probability that, on a given day, the agency will receive only ...

Verified Answer:

(a) The random variable x = number of web-based en...

Question: 5.2

5.2 Life Assurance Policy Surrender Study Global Insurance has found that 20% (one in five) of all insurance policies are surrendered (cashed in) before their maturity date. Assume that 10 policies are randomly selected from the company’s policy database. (a) What is the probability that four of ...

Verified Answer:

(a) The random variable ‘number of policies surren...

Question: 5.1

Car Hire Request Study The Zeplin car hire company has a fleet of rental cars that includes the make Opel. Experience has shown that one in four clients requests to hire an Opel. If five reservations are randomly selected from today’s bookings, what is the probability (or likelihood) that two ...

Verified Answer:

The random variable (i.e. the number of hire reque...

Question: 4.11

Fruit Juice Shelf Display Study A company produces fruit juice in 10 different flavours. A local supermarket sells the product, but has only sufficient shelf space to display three of the company’s 10 fruit juice flavours at a time. (a) How many possible groupings (combinations) of three flavours ...

Verified Answer:

(a) The order in which the three fruit juices flav...

Question: 4.10

Worker Assignment Study A factory has three machines and eight possible machine operators. (a) How many distinct assignments (orderings) of machine operators to machines are possible? (b) What is the probability of one particular ordering of machine operators to the three machines? ...

Verified Answer:

(a) Given n = 8 machine operators and r = 3 machin...

Question: 14.8

Electrical Appliances Study Revise the base period of the price index series shown in Table 14.13 from 2007 to 2009. (See Excel file C14.5 – electrical appliances.) ...

Verified Answer:

Calculate the adjustment factor:

\frac{100}...

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