Question

In: Statistics and Probability

A recent study gave the information shown in the table about ages of children receiving toys....

A recent study gave the information shown in the table about ages of children receiving toys. The percentages represent all toys sold.

Age (years) Percentage of Toys
2 and under
3-5
6-9
10-12
13 and over
20%
19%
30%
11%
20%

What is the probability that a toy is purchased for someone in the following age ranges?

(a) 6 years old or older
%

(b) 12 years old or younger
%

(c) between 6 and 12 years old
%

(d) between 3 and 9 years old
%

A child between 10 and 12 years old looks at this probability distribution and asks, "Why are people more likely to buy toys for kids older than I am (13 and over) than for kids in my age group (10–12)?" How would you respond?

The 13-and-older category may include children up to 17 or 18 years old. This is a larger category.The 13-and-older category may include children up to 17 or 18 years old. This is a smaller category.    

Solutions

Expert Solution

Age (years) Percentage of Toys
2 and under
3-5
6-9
10-12
13 and over
20%
19%
30%
11%
20%

(a) 6 years old or older

P[ 6 years or older ] = 30% + 11% + 20% = 61%

P[ 6 years or older ] = 61%

(b) 12 years old or younger

P[ 12 or younger ] = 20% + 19% + 30% + 11% = 80%

P[ 12 or younger ] = 80%



(c) between 6 and 12 years old
P[ between 6 and 12 ] = 30% + 11% = 41%

P[ between 6 and 12 ] = 41%



(d) between 3 and 9 years old

P[ between 3 and 9 ] = 19% + 30% = 49%

P[ between 3 and 9 ] = 49%

A child between 10 and 12 years old looks at this probability distribution and asks, "Why are people more likely to buy toys for kids older than I am (13 and over) than for kids in my age group (10–12)?" How would you respond?

P[ 10 and 12 years ] =11%
P[ 13 or older ] = 20%

This is true statement

The 13-and-older category may include children up to 17 or 18 years old. This is a smaller category.    


Related Solutions

A study of fox rabies in a country gave the following information about different regions and...
A study of fox rabies in a country gave the following information about different regions and the occurrence of rabies in each region. A random sample of n1 = 16 locations in region I gave the following information about the number of cases of fox rabies near that location. x1:    Region I Data 2 9 9 9 7 8 8 1 3 3 3 2 5 1 4 6 A second random sample of n2 = 15 locations in...
1. Saga ltd. produces electronic toys for children between the ages of 7-10 years old. The...
1. Saga ltd. produces electronic toys for children between the ages of 7-10 years old. The toys use a processor that is imported from Japan. Annual demand for the processor is 12,500. The holding cost per processor per year is $2. Ordering cost per order is $400. Lead time is 7 days and the number of working days in the year is 250. a.                   What is the economic order quantity? b.                  What is the optimal number of orders per year? c.                   Calculate the...
In a recent Gallup poll, 52% of parents with children under 18 years of age gave...
In a recent Gallup poll, 52% of parents with children under 18 years of age gave themselves a grade of B for the job they are doing bringing up their kids. Assume that this percentage is true for the current population of all parents with children under 18 years of age. You take a random sample of 1044 such parents and ask them to give themselves a grade for the job they are doing bringing up their kids. a. The...
Case Study Toys-4-Children Ltd (T4C) manufactures and sells children’s toys in Australia. The company currently faces...
Case Study Toys-4-Children Ltd (T4C) manufactures and sells children’s toys in Australia. The company currently faces the following core issues and challenges: • T4C aims to introduce a new product – ‘Gold Fish’ – and it needs to develop some preliminary cost estimates. • T4C faces increasing competition from new competitors who are importing children’s toys from China and selling them at low prices in the Australian market. • T4C is struggling with decision making and control over operations in...
A cross-sectional study examined children between the ages of 1 and 17 to determine the prevalence...
A cross-sectional study examined children between the ages of 1 and 17 to determine the prevalence of asthma and of indoor environmental risk factors for childhood asthma. Data was collected by questionnaires, which were completed by each child's primary caretaker. Having a smoker in the household was found to be a significant risk factor for childhood asthma. The following 2X2 table illustrates the study findings related to this risk factor. Outcome Exposure Asthma No Asthma Total Smoker in the household...
Financial? ratios: Financial leverage.??The financial statements for Tyler? Toys, Inc. are shown in the table below....
Financial? ratios: Financial leverage.??The financial statements for Tyler? Toys, Inc. are shown in the table below. Calculate the debt? ratio, times interest earned? ratio, and cash coverage ratio for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the? shareholders? Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue $14,146,827 $13,567,406 Cost of goods sold $-8,447,289...
Financial? ratios: Asset management.??The financial statements for Tyler? Toys, Inc. are shown in the table below....
Financial? ratios: Asset management.??The financial statements for Tyler? Toys, Inc. are shown in the table below. Calculate the inventory? turnover, days' sales in? inventory, receivables? turnover, days' sales in?receivables, and total asset turnover for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the? shareholders? Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue $14,147,668 $13,567,127...
A recent study reported that 59% of the children in a particular community were overweight or...
A recent study reported that 59% of the children in a particular community were overweight or obese. Suppose a random sample of 300 public school children is taken from this community. Assume the sample was taken in such a way that the conditions for using the Central Limit Theorem are met. We are interested in finding the probability that the proportion of​ overweight/obese children in the sample will be greater than 0.55 Complete parts​ (a) and​ (b) below. a. Before...
A recent study reported that 51​% of the children in a particular community were overweight or...
A recent study reported that 51​% of the children in a particular community were overweight or obese. Suppose a random sample of 500 public school children is taken from this community. Assume the sample was taken in such a way that the conditions for using the Central Limit Theorem are met. We are interested in finding the probability that the proportion of​ overweight/obese children in the sample will be greater than 0.47. Complete parts​ (a) and​ (b) below. . Calculate...
A recent study found that 56% of workers between the ages of 20-29 cash out their...
A recent study found that 56% of workers between the ages of 20-29 cash out their retirement accounts when they lose their jobs or move to a new employer. Complete parts a through e below based on a random sample of 14 workers between the ages of 20-29 who lost their jobs or changed employers. What is the probability that exactly 3 workers cashed out their retirement accounts? The probability is_________. (Round to four decimal places as needed.) What is...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT