Question

In: Statistics and Probability

This question has five parts. Data listed below. A survey of 518 workers included the question...

This question has five parts. Data listed below.

A survey of 518 workers included the question "In your opinion, is it OK for a company to monitor its employees' Internet use?" The possible responses were: (1) Only after informing the employees, (2) Company can monitor internet at any time for any reason, (3) Only when company believes an employee is misusing the Internet, (4) Company does not have the right, and (5) Only if an employee has previously misused the Internet. The table included contains the results for the respondents.

1. Calculate the probability that a randomly chosen respondent would indicate that there should be some restriction concerning the company's right to monitor Internet use.

The probability is: ________ (Do not use percents. Round to four decimal places as needed.)

2. Indicate the method of probability assessment used to determine the probability in the question above. Select from bold choices.

The    ["subjective probability", "classical probability", "relative frequency"]   assessment approach is used because the probability is based on    ["data that have been collected.", "outcomes that occur with the same chance.", "a person's opinion."]

3. Are the events that a randomly selected respondent chose response 3 and that another randomly selected respondent chose response 4 independent? Choose the correct answer below.

a. The two events are not independent because a respondent cannot choose response 3 and response 4.

b. The two events are independent because one respondent's choice of response 3 affects the probability that the other respondent will choose response 4.

c. The two events are independent because one respondent's choice of response 3 does not affect the probability that the other respondent will choose response 4.

d. The two events are not independent because one respondent's choice of response 3 affects the probability that the other respondent will choose response 4.

4. Are the events that a randomly selected respondent chose response 3 and that another randomly selected respondent chose response 4 mutually exclusive? Choose the correct answer below.

a. The two events are not mutually exclusive because a respondent cannot choose response 3 and response 4.

b. The two events are not mutually exclusive because a respondent can choose response 3 while another chooses response 4.

c. The two events are mutually exclusive because one respondent's choice of response 3 affects the probability that the other respondent will choose response 4.

d. The two events are mutually exclusive because a respondent can choose response 3 while another chooses response 4.

5. Are the events that a randomly selected respondent chose response 3 and that another randomly selected respondent chose response 4 dependent events? Choose the correct answer below.

a. The two events are dependent because one respondent's choice of response 3 does not affect the probability that the other respondent will choose response 4.

b. The two events are not dependent because one respondent's choice of response 3 does not affect the probability that the other respondent will choose response 4.

c. The two events are dependent because a respondent can choose response 3 while another chooses response 4.

d. The two events are not dependent because one respondent's choice of response 3 affects the probability that the other respondent will choose response 4.

Data:

Response 1 2 3 4 5
Number of Respondents 165 215 114 10 14

Solutions

Expert Solution

1. The probability that a randomly chosen respondent would indicate that there should be some restriction concerning the company's right to monitor Internet use is,

= 1 - probability that Company can monitor internet at any time for any reason

= 1 - (215/518)

= 0.5849

2.

The relative frequency assessment approach is used because the probability is based on data that have been collected.

3. The events that a randomly selected respondent chose response 3 and that another randomly selected respondent chose response 4 are independent.

c. The two events are independent because one respondent's choice of response 3 does not affect the probability that the other respondent will choose response 4.

4. The events that a randomly selected respondent chose response 3 and that another randomly selected respondent chose response 4 are not mutually exclusive.

b. The two events are not mutually exclusive because a respondent can choose response 3 while another chooses response 4.

5. The events that a randomly selected respondent chose response 3 and that another randomly selected respondent chose response 4 are not dependent events.

b. The two events are not dependent because one respondent's choice of response 3 does not affect the probability that the other respondent will choose response 4.


Related Solutions

This question has five parts. Data listed below. A survey of 518 workers included the question...
This question has five parts. Data listed below. A survey of 518 workers included the question "In your opinion, is it OK for a company to monitor its employees' Internet use?" The possible responses were: (1) Only after informing the employees, (2) Company can monitor internet at any time for any reason, (3) Only when company believes an employee is misusing the Internet, (4) Company does not have the right, and (5) Only if an employee has previously misused the...
Use the data below to answer the question parts (a) and (b). This data is for...
Use the data below to answer the question parts (a) and (b). This data is for forecasting fure sale consdiering additive seasonality approach and answer related questions. SHOW EACH CALCULATION STEP AND DESCRIBE IT ROUND answers to 2 decimal points. Time Year Season Sale 1 2018 Q1 1 2 Q2 7 3 Q3 3 4 Q4 2 5 2019 Q1 6 6 Q2 8 7 Q3 1 8 Q4 9 PART a) What is the seasonality index for second season...
This question has been answered, but parts e-g were not included in the answer. 1. The...
This question has been answered, but parts e-g were not included in the answer. 1. The Dragonville’s economy is currently experiencing an inflationary gap. The country’s central bank is determined to help alleviate the problem. Draw a correctly labeled aggregate demand-aggregate supply graph that illustrates Dragonville’s current economy. Name one action that the Dragonville central bank could take to alleviate the economy’s problem. Assume that the central bank enacts one of your policies above. Draw a correctly labeled money market...
question 8 parts a-e a Returns on stocks X and Y are listed below: Period 1...
question 8 parts a-e a Returns on stocks X and Y are listed below: Period 1 2 3 4 5 6 7 Stock X 8% 0% 3% -2% 5% 12% 7% Stock Y 5% -2% 4% 7% 1% 12% -3% What is the correlation of returns on the two stocks? Please round your answer to the nearest hundredth. Note that the correct answer will be evaluated based on the full-precision result you would obtain using Excel. b Returns on stocks...
Auditing - Chapter Seven This assignment consists of one question with two parts listed below. Answer...
Auditing - Chapter Seven This assignment consists of one question with two parts listed below. Answer the questions and submit to the drop box on the assigned date. Your paper should be double-spaced and at minimum two pages long. You may use any format for the answer, however, when appropriate, the Conclusion, Rule, Application, Conclusion format is preferable for clarity and better understanding. Question Importance of materiality judgments Explain how auditors determine planning materiality and performance materiality. What happens if...
The data below represent commute times​ (in minutes) and scores on a​ well-being survey. Complete parts​...
The data below represent commute times​ (in minutes) and scores on a​ well-being survey. Complete parts​ (a) through​ (d) below. Commute Time​ (minutes), x 5 15 25 40 60 84 105 ​Well-Being Index​ Score, y 69.2 68.1 67.2 66.5 65.3 64.7 62.8 ​(a) Find the​ least-squares regression line treating the commute​ time, x, as the explanatory variable and the index​ score, y, as the response variable. y = [ ] x + [ ] ​(b) Interpret the slope and​ y-intercept,...
The data below represent commute times​ (in minutes) and scores on a​ well-being survey. Complete parts​...
The data below represent commute times​ (in minutes) and scores on a​ well-being survey. Complete parts​ (a) through​ (d) below. Commute Time​ (minutes), x 55 1515 3030 3535 5050 8484 105105 ​Well-Being Index​ Score, y 69.169.1 67.867.8 66.266.2 65.865.8 64.564.5 62.362.3 59.959.9 ​(a) Find the​ least-squares regression line treating the commute​ time, x, as the explanatory variable and the index​ score, y, as the response variable. ModifyingAbove y with caretyequals=nothingxplus+left parenthesis nothing right parenthesis ​(Round to three decimal places as​...
The data below represent commute times​ (in minutes) and scores on a​ well-being survey. Complete parts​...
The data below represent commute times​ (in minutes) and scores on a​ well-being survey. Complete parts​ (a) through​ (d) below. Commute Time​ (minutes), x 5 15 30 40 50 84 105 ​Well-Being Index​ Score, y 68.9 67.6 65.8 64.9 64.0 61.5 58.8 ​(a) Find the​ least-squares regression line treating the commute​ time, x, as the explanatory variable and the index​ score, y, as the response variable. ModifyingAbove y with caret equalsnothingxplusleft parenthesis nothing right parenthesis ​(Round to three decimal places...
This Data comes from the 2012 American Community Survey. PA workers, ages 18-40. Below the Table,...
This Data comes from the 2012 American Community Survey. PA workers, ages 18-40. Below the Table, You need to compute the Mean and Standard Devidation of each column. Use the =average() and =stdev() functions in Excel to do so. There are 2 types of Variables here. Dummy variables answer a Yes/No Question, with 1 meaning 'yes'. For example, a 1 for Female suggests the person if female. The Mean of a Dummy Variable gives the Prevalence of that Characteristic: the...
Question 7 of 21Financial ratio data is listed below for Gallery of Dreams. Select the answers...
Question 7 of 21Financial ratio data is listed below for Gallery of Dreams. Select the answers that are strengths for the firm after analyzing the ratios. Gallery of Dreams Ratios Ratio Industry 2015 2014 2013 Current 2.50x 4.48x 4.06x 3.48x Quick 0.80x 1.47x 1.18x 0.96x Average collection period 11 days 16 days 15 days 9 days Inventory turnover 2.30x 1.19x 1.24x 1.37x Days payable outstanding 15 days 11 days 12 days 8 days Fixed asset turnover 17.50x 9.74x 9.09x 8.85x...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT