The following data represents 16 observations of a certain wire thickness for an electrical application:

.81   .87   .89   1.04   1.09   1.12   1.29   1.31   1.48   1.49   1.59   1.62   1.65   1.71   1.75   1.85

1. Compute a point estimate of the min/max mean of the wire thickness.                          

2. Compute a point estimate of the 10% trimmed mean of the wire thickness.                 

c. Would you purchase this bran of wire for a mission-critical application? Why?

A sample of 100 workers received an average daily wage of $234. The distribution of the weekly wages is a bell-shaped normal curve. The standard deviation of the daily wages is $12.

(a) Approximately what percentage of workers will earn between $222 and $258?

(b) Approximately what percentage of the workers will earn less than $222 or more than $258?

(c) Approximately how many workers will earn between $222 and $258?

Consider a game between a tax collector (player 1) and a tax payer (player 2).  Player2 has an income of 200 and may either report his income truthfully or lie.  If he reports truthfully, he pays 100 to player 1 and keeps the rest.  If player 2 lies and player 1 does not audit, then player 2 keeps all his income.  If player 2 lies and player 1 audits then player 2 gives all his income to player 1. The cost to player 1 of conducting an audit is 20.  Suppose that both parties move simultaneously (i.e.  player 1 must decide whether to audit before he knows player 2’s reported income).  Find the mixed-strategy Nash equilibrium for this game and the equilibrium payoffs to each player.  Explain in your own words the meaning of these results.

Chapter 9 Froum

Answer each question, Interpret your interval in words. You will be able to see what others have posted after you post your response. You can post only once. I will grade the first post only. You may use your T84

Q1) The New York Times and CBS News conducted a nationwide poll of 1050 randomly selected 13- 17-year-olds. We can consider the sample to be a simple random sample. Of these 1050 teenagers, 690 had a television in their room. Construct a 95% confidence interval for the proportion of all people in this age group who had a TV in their room at the time of the poll

Q2) Apartment rental rates. You want to rent an unfurnished one-bedroom apartment for next semester. The mean monthly rent for a random sample of 10 apartments advertised in the local newspaper is $540 with a standard deviation of $87. Construct a 95% confidence interval for the mean monthly rent for unfurnished one-bedroom apartments available for rent in this community.

Bicycling, the world's leading cycling magazine, reviews hundreds of bicycles throughout the year. Their "Road-Race" category contains reviews of bikes used by riders primarily interested in racing. One of the most important factors in selecting a bike for racing is the weight of the bike. The following data show the weight (pounds) and price ($) for 10 racing bikes reviewed by the magazine.†

1. Use the data to develop an estimated regression equation that could be used to estimate the price for a bike given the weight. (Round your numerical values to the nearest integer).

ŷ =

2. Compute r². (Round your answer to three decimal places.)

r² =

2b. Did the estimated regression equation provide a good fit?

(a) The estimated regression equation did not provide a good fit, since r² ≥ 0.55.

(b) The estimated regression equation did not provide a good fit, since r² < 0.55.     

(c) The estimated regression equation provided a good fit, since r² < 0.55.

(d) The estimated regression equation provided a good fit, since r² ≥ 0.55.

3. Predict the price (in dollars) for a bike that weighs 15 pounds. (Round your answer to the nearest dollar.)

Jobs and productivity! How do banks rate? One way to answer this question is to examine annual profits per employee. The following is data about annual profits per employee (in units of 1 thousand dollars per employee) for representative companies in financial services. Assume σ ≈ 9.4 thousand dollars.

(a) Use a calculator or appropriate computer software to find x for the preceding data. (Round your answer to two decimal places.)
  thousand dollars

(b) Let us say that the preceding data are representative of the entire sector of (successful) financial services corporations. Find a 75% confidence interval for μ, the average annual profit per employee for all successful banks. (Round your answers to two decimal places.)

(c) Let us say that you are the manager of a local bank with a large number of employees. Suppose the annual profits per employee are less than 30 thousand dollars per employee. Do you think this might be somewhat low compared with other successful financial institutions? Explain by referring to the confidence interval you computed in part (b).

Yes. This confidence interval suggests that the bank profits are less than those of other financial institutions.Yes. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.    No. This confidence interval suggests that the bank profits are less than those of other financial institutions.No. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.

(d) Suppose the annual profits are more than 40 thousand dollars per employee. As manager of the bank, would you feel somewhat better? Explain by referring to the confidence interval you computed in part (b).

No. This confidence interval suggests that the bank profits are higher than those of other financial institutions.No. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.    Yes. This confidence interval suggests that the bank profits are higher than those of other financial institutions.Yes. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.

(e) Find a 90% confidence interval for μ, the average annual profit per employee for all successful banks. (Round your answers to two decimal places.)

(f) Let us say that you are the manager of a local bank with a large number of employees. Suppose the annual profits per employee are less than 30 thousand dollars per employee. Do you think this might be somewhat low compared with other successful financial institutions? Explain by referring to the confidence interval you computed in part (e).

Yes. This confidence interval suggests that the bank profits are less than those of other financial institutions.Yes. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.    No. This confidence interval suggests that the bank profits are less than those of other financial institutions.No. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.

(g) Suppose the annual profits are more than 40 thousand dollars per employee. As manager of the bank, would you feel somewhat better? Explain by referring to the confidence interval you computed in part (e).

No. This confidence interval suggests that the bank profits are higher than those of other financial institutions.No. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.    Yes. This confidence interval suggests that the bank profits are higher than those of other financial institutions.Yes. This confidence interval suggests that the bank profits do not differ from those of other financial institutions.

An agent for a residential real estate company in a large city has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square footage to predict the monthly rental cost. The agent selects a sample of 25 apartments in a particular residential neighborhood and collects the following data:

(a) Construct a scatter plot.

(b) Use the least-squares method to determine the regression coefficients (intercept and slope).

(c) Interpret the meaning of the intercept and slope in this problem.

(d) Predict the monthly rent for an apartment that has 1000 square feet.

(e) Why would it not be appropriate to use the model to predict the monthly rent for apartments that have 500 square feet?

Question 11

1. Twelve secretaries were given a typing test, and the times (in minutes) to completed it were as follows: 8, 12, 15, 9, 6, 8, 10, 9, 8, 6, 7, 8 Find the MEAN. Round to one decimal place (example: 3.2) Blank 1

Question 12

1. The grade point averages of ten students who applied for financial aid are shown below. 3.15, 3.62, 2.54, 2.81, 3.97, 1.85, 1.93, 2.63, 2.50, 2.80 Find the MEAN. Round to two decimal places (example: 2.45). Blank 1

Question 13

1. The exam scores of 20 students were recorded as follows: 73, 87, 62, 98, 43, 90, 88, 97, 100, 87, 95, 100, 56, 78, 100, 88, 70, 78, 63, 78 Find the RANGE. Blank 1

Question 14

1. Twelve secretaries were given a typing test, and the times (in minutes) to completed it were as follows: 8, 12, 15, 9, 6, 8, 10, 9, 8, 6, 7, 8 Find the Five Number Summary. Lowest: Blank 1 Q1: Blank 2 Median: Blank 3 Q3: Blank 4 Highest: Blank 5

Question 15

1. The exam scores of 20 students were recorded as follows: 73, 87, 62, 98, 43, 90, 88, 97, 100, 87, 95, 100, 56, 78, 100, 88, 70, 78, 63, 78 Find the Five Number Summary. Lowest: Blank 1 Q1: Blank 2 Median: Blank 3 Q3: Blank 4 Highest: Blank 5

Question 16

1. The average amount of a purchase at a pipe and tobacco store is $2.12. The standard deviation is $0.45. 99.7% of the amount of purchase fall between what to prices? Put your answer in as dollars with cents (example: $5.67). Do not round or your answer will be marked incorrect. Blank 1 and Blank 2

Question 7

1. The mean of a distribution is 50 and the standard deviation is 5. Between what to values will at least 75% of the data values fall? Blank 1 and Blank 2

Question 8

1. Twelve secretaries were given a typing test, and the times (in minutes) to completed it were as follows: 8, 12, 15, 9, 6, 8, 10, 9, 8, 6, 7, 8 Find the MEDIAN.

Question 9

1. Twelve secretaries were given a typing test, and the times (in minutes) to completed it were as follows: 8, 12, 15, 9, 6, 8, 10, 9, 8, 6, 7, 8 Find the VARIANCE. Round to one decimal place (example: 3.2)

Question 10

1. The mean of a distribution is 50 and the standard deviation is 5. Between what to values will at least 88.89% of the data values fall? Blank 1 and Blank 2

An agent for a residential real estate company in a large city has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square footage to predict the monthly rental cost. The agent selects a sample of 25 apartments in a particular residential neighborhood and collects the following data:

For these data, S_yx = 194.5953946 and h_i = 0.049156908 when X = 1000.  *Round final answers below to three decimal places. Do not round calculations until the final answer.

(a) Construct a 95% confidence interval estimate of the mean monthly rental for all apartments that are 1000 square feet in size.

(b) Construct a 95% prediction interval of the monthly rent for an individual apartment that is 1000 square feet in size.

(c) Explain the difference in the results in (a) and (b).

Suppose that an electric car contains six similar components two of which are defective. Three of these components are selected at random, removed from the car, and inspected. Let Y equal the number of defectives observed, where Y = 0, 1 ,or 2. Determine the pmf of Y and graph its CD

With the rise of stock market, an investment advisor believes that the percentage of investors who are risk–taking (i.e., trying to take risk in their investment decisions) is greater than 80%. A survey of 115 investors found that 95 of them were risk-taking. Formulate and test the appropriate hypotheses to determine whether his belief can be confirmed (significance level of 5%).

please show work on excel!!!

A tire manufacturer has been producing tires with an average life expectancy of 26,000 miles. Now the company is advertising that its new tires' life expectancy has increased. In order to test the legitimacy of the advertising campaign, an independent testing agency tested a sample of 6 of their tires and has provided the following data. The p-value is equal to

Select one:

a. 0.102

b. 0.072

c. 0.203

d. 1.46

Forty employers in a variety of fields and cities were surveyed in 2004 on topics relating to company benefits, and the degree to which employees were supported in terms of flexible work hours and child care assistance. One question asked if the employer had any experience or knowledge about attention-deficit hyperactive disorder (ADHD). Responses of either yes (y) or no (n) are shown below.

(a) Set up a 95% confidence interval for the proportion of all employers who have experience or knowledge of ADHD. (Round your answers to two decimal places.)

On the basis of past experience, Martin Clothing Store manager estimates that the probability that any one customer will make a purchase is 0.30. Martin Clothing Store forecasts ten customers will enter the store in the next hour; the expected number of customers who will make a purchase is __________. The standard deviation for the number of customers who will make a purchase is __________. NOTE: Write your answers in number format, with 2 decimal places of precision level. Add a leading minus sign symbol, a leading zero and trailing zeros, when needed. Use a period for the decimal separator and a comma to separate groups of thousands.