Question

In: Statistics and Probability

The following datagive the prices of seven textbooks randomly selected from auniversity bookstore.$86...

The following data give the prices of seven textbooks randomly selected from a university bookstore.


$86

$174

$109

$119

$59

$155

$145

a.Find the mean for these data. Calculate the deviations of the data values from the mean. Is the sum of these deviations zero?

Mean =

Deviation from the mean for $174 =

Sum of these deviations =

b.Calculate the range, variance, and standard deviation. [Round your answers to 2 decimal places.]

Range =

Variance =

Standard deviation =

Solutions

Expert Solution

a) sum of these deviations zero?

No

Mean =121

Deviation from the mean for $174 =|121-174 |=53

Sum of these deviations =222

b) range = 174-59= 115


Related Solutions

Sixteen new textbooks in the bookstore, had prices with a mean of $70.41 and a standard...
Sixteen new textbooks in the bookstore, had prices with a mean of $70.41 and a standard deviation of $19.70. Use a 0.05 significance level to test the claim that the mean price of a textbook at this college is less than $75? Given: n=16, x=$70.41, s=$19.70, alpha= 0.05, mean= $75.
Amasoon is a bookstore selling economic textbooks, and Booky is a bookstore selling mathematics textbooks. While...
Amasoon is a bookstore selling economic textbooks, and Booky is a bookstore selling mathematics textbooks. While Amasoon owns a physical shop located in Denver, Booky operates on the internet. Therefore, Amasoon has a fixed cost of $180,000 per year, while Booky has no fixed cost. Since Amasoon has a physical shop, the publisher is willing to sell the textbooks to Amasoon at a discounted price of $60 per copy. Booky has to buy the books for $100 per copy from...
Situation Z: The following sample of seven randomly selected stock prices were observed for a large corporation. Assume the population is normally distributed
Situation Z: The following sample of seven randomly selected stock prices were observed for a large corporation. Assume the population is normally distributed 31, 35, 19, 20, 23, 27, 25 For situation Z, what is the value of the margin of error for a 95% confidence interval estimate of the average stock price? A. 2.65 B. 1.96 C.5.36 D.25.7 E. 25
You have decided to open a bookstore that sells textbooks and competes with the campus bookstore....
You have decided to open a bookstore that sells textbooks and competes with the campus bookstore. List one internal control procedure you would implement in running the store. Do you feel there are any limitations to this internal control procedures? If so, what could be the limitations?
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese...
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese $3.29 Butter $4.99 Eggs $3.49 Yogurt $3.49 Juice $3.89 Tea $3.69 Chips $3.99 Soda $1.99 Pastry $2.99 Cerrial $4.99 Oats $3.29 Almond Milk $2.79 Almonds $4.39 Popcorn $3.29 Crackers $3.59 Ice Cream $6.99 Cookies $2.99 Jam $3.69 Peanut Butter $3.29 Coffee $3.19 Green Tea $4.99 BBQ Sauce $2.99 Oil $6.69 Mayonnaise $4.59 Mustard $2.99 1. Compute the sample mean x and the sample standard...
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese...
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese $3.29 Butter $4.99 Eggs $3.49 Yogurt $3.49 Juice $3.89 Tea $3.69 Chips $3.99 Soda $1.99 Pastry $2.99 Cerrial $4.99 Oats $3.29 Almond Milk $2.79 Almonds $4.39 Popcorn $3.29 Crackers $3.59 Ice Cream $6.99 Cookies $2.99 Jam $3.69 Peanut Butter $3.29 Coffee $3.19 Green Tea $4.99 BBQ Sauce $2.99 Oil $6.69 Mayonnaise $4.59 Mustard $2.99 1. Compute the sample mean x and the sample standard...
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese...
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese $3.29 Butter $4.99 Eggs $3.49 Yogurt $3.49 Juice $3.89 Tea $3.69 Chips $3.99 Soda $1.99 Pastry $2.99 Cerrial $4.99 Oats $3.29 Almond Milk $2.79 Almonds $4.39 Popcorn $3.29 Crackers $3.59 Ice Cream $6.99 Cookies $2.99 Jam $3.69 Peanut Butter $3.29 Coffee $3.19 Green Tea $4.99 BBQ Sauce $2.99 Oil $6.69 Mayonnaise $4.59 Mustard $2.99 1. Compute the sample mean x and the sample standard...
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese...
Here are some prices for randomly selected grocery items from the grocery store: Items Prices: Cheese $3.29 Butter $4.99 Eggs $3.49 Yogurt $3.49 Juice $3.89 Tea $3.69 Chips $3.99 Soda $1.99 Pastry $2.99 Cerrial $4.99 Oats $3.29 Almond Milk $2.79 Almonds $4.39 Popcorn $3.29 Crackers $3.59 Ice Cream $6.99 Cookies $2.99 Jam $3.69 Peanut Butter $3.29 Coffee $3.19 Green Tea $4.99 BBQ Sauce $2.99 Oil $6.69 Mayonnaise $4.59 Mustard $2.99 1. Compute the sample mean x and the sample standard...
Question 1 Seven baseballs are randomly selected from the production line to see if their stitching...
Question 1 Seven baseballs are randomly selected from the production line to see if their stitching is straight. Over time, the company has found that 89.4% of all their baseballs have straight stitching. If exactly five of the seven have straight stitching, should the company stop the production line?    Yes, the probability of five or less having straight stitching is unusual    No, the probability of five or less having straight stitching is not unusual    No, the probability...
the college bookstore says that the average cost of textbooks is $52 with a standard deviation...
the college bookstore says that the average cost of textbooks is $52 with a standard deviation of $4.50. a group of skeptical statistics students want to test the bookstore’s claim with a sample of 100 books, and find a mean of $53. a) what decision should the students make if they set alpha to .01? b.) Compare and contrast the benefits and drawbacks of having a high alpha level vs. a low alpha level. What are some of the practical/real...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT