Solution Library


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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Prepare a Histogram for Youngsters Involved in Road Accidents due to Alcohol Consumption

QuestionDodgy Brothers Research Inc. have conducted a series of studies involving the characteristics of drivers who were involved in automobile accidents    in which there was property damage and the driver was found to have an illegal blood alcohol level. Other costs and relevant ch ... Read More

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Descriptive Statistical Analysis on Youngsters Involved in Alcohol-related Accidents

QuestionDodgy Brothers Research Inc. have conducted a series of studies involving the characteristics of drivers who were involved in automobile accidents    in which there was property damage and the driver was found to have an illegal blood alcohol level. Other costs and relevant ch ... Read More

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Calculation of Mode Variance and Standard Deviation for Alcohol-related Accidents by Youngsters

QuestionDodgy Brothers Research Inc. have conducted a series of studies involving the characteristics of drivers who were involved in automobile accidents    in which there was property damage and the driver was found to have an illegal blood alcohol level. Other costs and relevant ch ... Read More

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Calculation of Correlation and Regression for GAP Sales Data between 1991 and 2012

QuestionThe dependent variable is going to be GAP Sales. Use quarterly sales data starting in January 1991 and continuing through July 2012. The independent variables that are expected to be used are: 1) A measure of the unemployment rate (%)2) A measure of income (in dollars if per capita income), ... Read More

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Using Regression Analysis for Demand Forecasting for a Pizza Company

QuestionThe Pizza Company is considering entering the marketplace in your community. Use the information from “The Pizza Company Data” worksheet. By conducting a demand analysis and forecast for pizza, you will be able to make a decision whether The Pizza Company should establish a prese ... Read More

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Hypothesis Testing on Mean Difference Between Men and Women Running Marathon

QuestionYou are testing a claim that (for a certain year) the mean time required by men to run the Boston Marathon race was less than the mean time required by women to run the race. For that year, two random samples were taken from those who participated in the Boston Marathon: a sample of 20 men a ... Read More

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Hypothesis Testing 10% of Drivers on Highway 407 Drive It For The First Time

QuestionYou are testing a claim that no more than 10% of those who drive on ‘Highway 407’, in any given month, are driving on it for the first time. In a particular month, you take a random sample of 400 drivers on ‘Highway 407’, and find that 30 of those drivers are on the h ... Read More

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Estimating the Size of a Sample to Study Average Sick Days Taken by Workers

QuestionAn insurance company is trying to estimate the average number of sick days that full-time food service workers use per year. A pilot study found the standard deviation to be 2.5 days. How large a sample must be selected if the company wants to be 95% confident of getting an interval that con ... Read More

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