Question
In: Statistics and Probability
The following data are results from a studying the effects of using four quarters or a...
The following data are results from a studying the effects of using four quarters or a $1 bill on keeping the money or spending it. 43 students were given the denominations.
Purchased Gum Kept the Money Total
Given Four Quarters 27 16
Given a $1 Bill 12 34
Total 43
(a) What are the two row totals?
(b) What are the two column totals?
(c) Find the probability (as a fraction and a decimal rounded to three places) of randomly selecting a student who spent the money, given that the student was given four quarters.
(d) Find the probability (as a fraction and a decimal rounded to three places) of randomly selecting a student who spent the money, given that the student was given a $1 bill.
(e) What do the preceding two results suggest?
Solutions
Expert Solution
| Purchased Gum | Kept the Money | Total | |
| Given Four Quarters | 27 | 16 | 43 |
| Given a $1 Bill | 12 | 34 | 46 |
| Total | 39 | 50 | 89 |
(a) What are the two row totals?
answer:
43, 46
(b) What are the two column totals?
answer:
39, 50
(c) Find the probability (as a fraction and a decimal rounded to three places) of randomly selecting a student who spent the money, given that the student was given four quarters.
answer:
-
P(Spend the money | Four quarters) = 27 / (27 + 16) =27/43= 0.628
(d) Find the probability (as a fraction and a decimal rounded to three places) of randomly selecting a student who spent the money, given that the student was given a $1 bill.
answer:
P(Spend the money |given a $1 bill) = 12/(12+34)=12/46=0.261
(e) What do the preceding two results suggest?
answer:
result suggest that if student is given 4 quarter , he is more
likely to spent the money
========================================================
If you have any doubt please let me know through
comment
Please give positive vote if you find this
solution helpful. Thank you!
orchestra answered 1 year agoRelated Solutions
Fred's Fabrication has the following aggregate demand requirements and other data for the upcoming four quarters....
Fred's Fabrication has the following aggregate demand
requirements and other data for the upcoming four quarters.
Quarter
Demand
Previous quarter's output
800 units
1
700
Beginning inventory
0 units
2
900
Stockout cost
$100 per unit
3
1200
Inventory holding cost
$10 per unit at end of quarter
4
600
Hiring workers
$20 per unit
Laying off workers
$40 per unit
Subcontracting cost
$200 per unit
Unit cost
$100 per unit
Which of the following production plans is better: Plan...
Dade Industries makes syringes. The demand for the next four quarters and the cost data are...
Dade Industries makes syringes. The demand for the next four
quarters and the cost data are given below. Each employee can
produce 100 syringes per quarter. Because of union contract no
overtime is permissible. The current work force is 18 workers.
Quarter
1
2
3
4
Demand
1500
2000
1800
2500
Hiring costs = $1000/ worker; Layoff costs = $ 700/worker;
Regular time wages = $10000/worker/quarter;
Inventory holding costs = $2.00/unit/quarter
For a level strategy in
this manufacturing
example:
Which...
The display provided from technology available below results from using data for a smartphone carrier's data...
The display provided from technology available below results
from using data for a smartphone carrier's data speeds at airports
to test the claim that they are from a population having a mean
less than 5.00 Mbps. Conduct the hypothesis test using these
results. Use a 0.05 significance level. Identify the null and
alternative hypotheses, test statistic,P-value, and state the
final conclusion that addresses the original claim.
The following results are from data concerning the amount withdrawn from an ATM machine based on...
The following results are from data concerning the amount
withdrawn from an ATM machine based on the amount of time spent at
the ATM machine (SECONDS) and the gender, FEMALE (dummy variable =
1 for females and = 0 for males) and an interaction term,
SECONDS*FEMALE
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.503
R Square
Adjusted R Square
Standard Error
Observations
50
ANOVA
df
SS
MS
F
Significance F
Regression
2728.7
5.19
0.004
Residual
24161.8
525.3
Total
32348
Coefficients...
The following results are from data concerning the amount withdrawn from an ATM machine based on...
The following results are from data concerning the amount
withdrawn from an ATM machine based on the amount of time spent at
the ATM machine (SECONDS) and the gender, FEMALE (dummy variable =
1 for females and = 0 for males) and an interaction term,
SECONDS*FEMALE
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.503
R Square
Adjusted R Square
Standard Error
Observations
50
ANOVA
df
SS
MS
F
Significance F
Regression
2728.7
5.19
0.004
Residual
24161.8
525.3
Total
32348
Coefficients...
Noventis Corporation prepared the following estimates for the four quarters of the current year: First Quarter...
Noventis Corporation prepared the following estimates for the
four quarters of the current year:
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Sales
$
1,400,000
$
1,680,000
$
1,960,000
$
2,240,000
Cost of goods sold
444,000
524,000
594,000
644,000
Administrative costs
450,000
255,000
260,000
270,000
Advertising costs
0
140,000
0
0
Executive bonuses
0
0
0
84,000
Provision for bad debts
0
0
0
50,000
Annual maintenance costs
68,000
0
0
0
Additional Information
First-quarter administrative costs include the $190,000...
Noventis Corporation prepared the following estimates for the four quarters of the current year: First Quarter...
Noventis Corporation prepared the following estimates for the
four quarters of the current year: First Quarter Second Quarter
Third Quarter Fourth Quarter Sales $ 1,100,000 $ 1,320,000 $
1,540,000 $ 1,760,000 Cost of goods sold 410,000 490,000 560,000
610,000 Administrative costs 270,000 165,000 170,000 180,000
Advertising costs 0 140,000 0 0 Executive bonuses 0 0 0 60,000
Provision for bad debts 0 0 0 56,000 Annual maintenance costs
64,000 0 0 0 Additional Information • First-quarter administrative
costs include the...
Noventis Corporation prepared the following estimates for the four quarters of the current year: First Quarter...
Noventis Corporation prepared the following estimates for the
four quarters of the current year:
First Quarter Second Quarter Third Quarter Fourth Quarter
Sales $ 1,100,000 $ 1,320,000 $ 1,540,000 $ 1,760,000
Cost of goods sold 410,000 490,000 560,000 610,000
Administrative costs 270,000 165,000 170,000 180,000
Advertising costs 0 140,000 0 0
Executive bonuses 0 0 0 60,000
Provision for bad debts 0 0 0 56,000
Annual maintenance costs 64,000 0 0 0
Additional Information • First-quarter administrative costs
include the...
Noventis Corporation prepared the following estimates for the four quarters of the current year: First Quarter...
Noventis Corporation prepared the following estimates for the
four quarters of the current year:
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Sales
$
1,150,000
$
1,380,000
$
1,610,000
$
1,840,000
Cost of goods sold
415,000
495,000
565,000
615,000
Administrative costs
280,000
170,000
175,000
185,000
Advertising costs
0
160,000
0
0
Executive bonuses
0
0
0
64,000
Provision for bad debts
0
0
0
58,000
Annual maintenance costs
66,000
0
0
0
Additional Information
First-quarter administrative costs include the $130,000...
Noventis Corporation prepared the following estimates for the four quarters of the current year: First Quarter...
Noventis Corporation prepared the following estimates for the
four quarters of the current year:
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Sales
$
1,500,000
$
1,800,000
$
2,100,000
$
2,400,000
Cost of goods sold
450,000
530,000
600,000
650,000
Administrative costs
350,000
205,000
210,000
220,000
Advertising costs
0
180,000
0
0
Executive bonuses
0
0
0
92,000
Provision for bad debts
0
0
0
72,000
Annual maintenance costs
80,000
0
0
0
Additional Information
First-quarter administrative costs include the $200,000...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- In an effort to find something to do during self-quarantine, your friend flips a coin many...
- The cycle involved in the operation of an internal combustion engine is called the Otto cycle....
- Millennials Are More Narcissistic Read the Point and Counterpoint arguments and answer the question listed below:...
- 1. Which of the following statements is TRUE about schizophrenia? Not taking care of one's hygiene...
- Considering the following financial information for Atlas Awesome Manufacturing, Inc. and Delilah Superior Manufacturing Inc. Both...
- 1. Let X and Y be non-linear spaces and T : X -->Y. Prove that if ...
- For this discussion you will take on the role of a clinical psychologist treating clients for...
ADVERTISEMENT