Statistics

Solution Library


2008 Canada Elections Constructing OLS Regression for Candidates

QuestionMany things can contribute to our opinions of a political leader, their attributes as a person or leader, their performance during a recent campaign, the positions they hold on the key issues of the day, and our estimates as to whether or not they will do well (or did well in office) with ma ... Read More

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Probability of Second Contestant Winning in the TV Show ‘The Price is Right’

QuestionIn the TV game show The Price is Right, contestants have to spin a wheel with a hundred amounts ranging from 1 cent to 100 cents in equal one cent increments. The contestant with the amount closest to $1 wins. If the first contestant spins 80 cents, what is the probability that the second co ... Read More

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Calculation of Average Per Diem Cost of Business Class Travel

QuestionRunzheimer International publishes business travel costs for various cities throughout the world. In particular, they publish per diem totals, which represent the average costs for the typical business traveler including three meals a day in business-class restaurants and single rate lodging ... Read More

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Poisson Distribution to Calculate Unscheduled Flight Arrivals

QuestionDuring the summer at a small airport in Labasa, Fiji, the unscheduled arrival of airplanes is Poisson distributed with an average arrival rate of 1.12 planes per hour. What is the probability that at least 2 hours will elapse between plane arrivals?SummaryThe question belongs to Statistics a ... Read More

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Poisson Distribution to Calculate Unscheduled Flight Arrivals

QuestionDuring the summer at a small airport in Labasa, Fiji, the unscheduled arrival of airplanes is Poisson distributed with an average arrival rate of 1.12 planes per hour. What is the probability that at least 2 hours will elapse between plane arrivals?SummaryThe question belongs to Statistics a ... Read More

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Calculation of Average Stay of Tourists in Queensland Hotels

QuestionAccording to ABS, the average length of stay by tourists in Queensland’s hotels, motels and serviced apartments in 2004 was 2.2 days. Suppose the standard deviation of the length of stay for all tourists is 1.2 days, and a random sample of 65 tourists is taken. What will be the average ... Read More

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Calculation of Employees Productivity On Tuesdays

QuestionAccording to a survey by Accountemps, 48% of executives believe that employees are most productive on Tuesdays. Suppose 200 executives are randomly surveyed. What is the probability that fewer than 90 of the executives believe employees are most productive on Tuesdays?    Summ ... Read More

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Calculation of Employees Productivity On Tuesdays

QuestionAccording to a survey by Accountemps, 48% of executives believe that employees are most productive on Tuesdays. Suppose 200 executives are randomly surveyed. What is the probability that fewer than 90 of the executives believe employees are most productive on Tuesdays?    Summ ... Read More

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Calculation of the Probability of Increase in Income and Wealth and Increase in Happiness

QuestionDoes an increase in income or wealth lead to greater happiness? This is a question that has caught the attention of researchers. Some have argued the increasing pace of modern life, changes in social attitudes towards the family, competition for jobs and a desire to keep up with our neighbor ... Read More

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Calculation of the Probability of Finding Floods in Bangladesh in Any Given Year

QuestionThe number of flood disasters that occur annually in Bangladesh is captured historically in the figure below. Construct a 95% confidence interval for the number of floods that can occur in any given year in Bangladesh. SummaryThe question belongs to Statistics and it is about calculation of ... Read More

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Calculation of the Probability of Accessing Wal-Mart Website During Shopping Season

QuestionAccording to Keynote systems, Wal-Mart’s Website was available 95% of the time during the most recent holiday shopping season. Assuming this finding to be based on a simple random sample of 200 attempts, construct and interpret the 90% confidence interval for the population proportion ... Read More

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Calculation of a Function in Microsoft Excel

QuestionExplain (including functions and arguments) what the following command in Microsoft Excel will find: =AVERAGE(B2:B17) - TINV(0.01, ROWS(B2:B17 1))*STDEV(B2:B17)/SQRT(ROWS(B2:B17))SummaryThe question belongs to Statistics and it is about calculating the given function in Microsoft Excel.Total ... Read More

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