Company “Text No Drive” is compiling background information for their new device that senses when texting is going on by the driver and stops the text. The company is interested in using injury statistics for their campaign. They compile information on the cost to the driver (in terms on injury and insurance costs) and also preferences by the driver.

The cost to the driver is described as average cost per injury depending on the amount of texting that the driver admits to doing. It is as follows:

They have piloted a program with the software and it yielded the following preferences for it:

1. What type of data is this?
2. Calculate the probabilities for: 1) each of the average cost categories, and 2) the type of preference for the product.
3. What is the probability that an average injury cost will be at least $800?
4. What is the average injury cost? What is the variance for the injury cost?
5. What is the probability that a person will like many aspects of the product?
6. What is the probability that a person will like only few aspects of the product?

A survey of 2645 consumers by DDB Needham Worldwide of Chicago for public relations agency Porter/Novelli showed that how a company handles a crisis when at fault is one of the top influences in consumer buying decisions,with 73% claiming it is an influence. Quality of product was the number one influence, with 96% of consumers stating that quality influences their buying decisions. How a company handles complaints was number two, with 85% of consumers reporting it as an influence in their buying decisions. Suppose a random sample of 1,200 consumers is taken and each is asked which of these three factors influence their buying decisions.

Appendix A Statistical Tables

a. What is the probability that more than 910 consumers claim that how a company handles a crisis when at fault is an influence in their buying decisions?
b. What is the probability that fewer than 1,125 consumers claim that quality of product is an influence in their buying decisions?
c. What is the probability that between 81% and 84% of consumers claim that how a company handles complaints is an influence in their buying decisions?

*(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 4 decimal places.)
**(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 5 decimal places.)

A survey of 2645 consumers by DDB Needham Worldwide of Chicago for public relations agency Porter/Novelli showed that how a company handles a crisis when at fault is one of the top influences in consumer buying decisions,with 73% claiming it is an influence. Quality of product was the number one influence, with 96% of consumers stating that quality influences their buying decisions. How a company handles complaints was number two, with 85% of consumers reporting it as an influence in their buying decisions. Suppose a random sample of 1,100 consumers is taken and each is asked which of these three factors influence their buying decisions.

Appendix A Statistical Tables

a. What is the probability that more than 810 consumers claim that how a company handles a crisis when at fault is an influence in their buying decisions?
b. What is the probability that fewer than 1,030 consumers claim that quality of product is an influence in their buying decisions?
c. What is the probability that between 82% and 84% of consumers claim that how a company handles complaints is an influence in their buying decisions?

*(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 4 decimal places.)
**(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 5 decimal places.)

A survey of 2645 consumers by DDB Needham Worldwide of Chicago for public relations agency Porter/Novelli showed that how a company handles a crisis when at fault is one of the top influences in consumer buying decisions,with 73% claiming it is an influence. Quality of product was the number one influence, with 96% of consumers stating that quality influences their buying decisions. How a company handles complaints was number two, with 85% of consumers reporting it as an influence in their buying decisions. Suppose a random sample of 1,200 consumers is taken and each is asked which of these three factors influence their buying decisions.

Appendix A Statistical Tables

a. What is the probability that more than 910 consumers claim that how a company handles a crisis when at fault is an influence in their buying decisions?
b. What is the probability that fewer than 1,125 consumers claim that quality of product is an influence in their buying decisions?
c. What is the probability that between 81% and 83% of consumers claim that how a company handles complaints is an influence in their buying decisions?

*(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 4 decimal places.)
**(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 5 decimal places.)

You may need to use the appropriate appendix table or technology to answer this question. The port of South Louisiana, located along 54 miles of the Mississippi River between New Orleans and Baton Rouge, is the largest bulk cargo port in the world. The U.S. Army Corps of Engineers reports that the port handles a mean of 4.5 million tons of cargo per week.† Assume that the number of tons of cargo handled per week is normally distributed with a standard deviation of 0.84 million tons.

(a) What is the probability that the port handles less than 5 million tons of cargo per week? (Round your answer to four decimal places.)

(b) What is the probability that the port handles 3 or more million tons of cargo per week? (Round your answer to four decimal places.)

(c) What is the probability that the port handles between 3 million and 4 million tons of cargo per week? (Round your answer to four decimal places.)

(d) Assume that 83% of the time the port can handle the weekly cargo volume without extending operating hours. What is the number of tons of cargo per week that will require the port to extend its operating hours? (Round your answer to one decimal places.) tons of cargo per week

3.27. Problem. (Section 11.5) The following are applications of Theorem 11.6 or the Central Limit Theorem.

(a) Determine the distribution of (1/5)X₁ + (2 /5)X₂ + (2/5)X₃ if X₁, X₂ and X₃ are independent normal distributions with µ = 2 and

σ = 3.

(b) The weight (kg) of a StarBrite watermelon harvested under certain environmental conditions is normally distributed with a mean of 8.0 with standard deviation of 1.9. Suppose 24 StarBrite watermelons grown in these conditions are harvested; compute the probability that the average weight of all 24 watermelons is less than 7.8 kg/fruit

(c) A study of elementary school students reports that the mean age at which children begin reading is 5.7 years with a standard deviation of 1.1 years. If 55 elementary school students are selected at random, approximate the probability that the average age at which these 55 children begin reading is at least 6.

(d) Let the random variable X be defined as the number of pips that show up when a fair, six-sided die is rolled. The mean and standard deviation of X can be shown to be µX = 3.5 and σX = 1.71, respectively. If 100 fair, six-sided dice are rolled, aproximate the probability that the mean of number of pips on the 100 dice is less than 3.25

A survey of 2645 consumers by DDB Needham Worldwide of Chicago for public relations agency Porter/Novelli showed that how a company handles a crisis when at fault is one of the top influences in consumer buying decisions,with 73% claiming it is an influence. Quality of product was the number one influence, with 96% of consumers stating that quality influences their buying decisions. How a company handles complaints was number two, with 85% of consumers reporting it as an influence in their buying decisions. Suppose a random sample of 1,100 consumers is taken and each is asked which of these three factors influence their buying decisions.

*a. What is the probability that more than 820 consumers claim that how a company handles a crisis when at fault is an influence in their buying decisions?
**b. What is the probability that fewer than 1,030 consumers claim that quality of product is an influence in their buying decisions?
*c. What is the probability that between 82% and 83% of consumers claim that how a company handles complaints is an influence in their buying decisions?

*(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 4 decimal places.)
**(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 5 decimal places.)

A survey of 2645 consumers by DDB Needham Worldwide of Chicago for public relations agency Porter/Novelli showed that how a company handles a crisis when at fault is one of the top influences in consumer buying decisions,with 73% claiming it is an influence. Quality of product was the number one influence, with 96% of consumers stating that quality influences their buying decisions. How a company handles complaints was number two, with 85% of consumers reporting it as an influence in their buying decisions. Suppose a random sample of 1,100 consumers is taken and each is asked which of these three factors influence their buying decisions.

a. What is the probability that more than 810 consumers claim that how a company handles a crisis when at fault is an influence in their buying decisions?

b. What is the probability that fewer than 1,030 consumers claim that quality of product is an influence in their buying decisions?

c. What is the probability that between 81% and 84% of consumers claim that how a company handles complaints is an influence in their buying decisions?

*(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 4 decimal places.)
**(Round the values of z to 2 decimal places. Round the intermediate values to 4 decimal places. Round your answer to 5 decimal places.)

BUSI 230-Project 3

1. a) Submit a copy of your dataset along with a file that contains your answers to all of the following questions.

b) What the mean and Standard Deviation (SD) of the Close column in your data set?

Mean: 1198.26

Standard Deviation: 85.39

c) If a person bought 1 share of Google stock within the last year, what is the probability that the stock on that day closed at less than the mean for that year? Hint: You do not want to calculate the mean to answer this one. The probability would be the same for any normal distribution. (5 points)

2. If a person bought 1 share of Google stock within the last year, what is the probability that the stock on that day closed at more than $1150? (5 points)
3. If a person bought 1 share of Google stock within the last year, what is the probability that the stock on that day closed within $50 of the mean for that year? (between 50 below and 50 above the mean) (5 points)
4. If a person bought 1 share of Google stock within the last year, what is the probability that the stock on that day closed at less than $950 per share. Would this be considered unusal? Use the definition of unusual from the course textbook that is measured as a number of standard deviations (5 points)
5. At what prices would Google have to close in order for it to be considered statistically unusual? You will have a low and high value. Use the definition of unusual from the course textbook that is measured as a number of standard deviations. (5 points)
6. What are Quartile 1, Quartile 2, and Quartile 3 in this data set? Use Excel to find these values. This is the only question that you must answer without using anything about the normal distribution. (5 points)
7. Is the normality assumption that was made at the beginning valid? Why or why not? Hint: Does this distribution have the properties of a normal distribution as described in the course textbook? Real data sets are never perfect, however, it should be close. One option would be to construct a histogram like you did in Project 1 to see if it has the right shape. Something in the range of 10 to 12 classes is a good number. (5 points)

There are also 5 points for miscellaneous items like correct date range, correct mean, correct SD, etc.

The American Housing Survey reported the following data on the number of times that owner-occupied and renter-occupied units had a water supply stoppage lasting 6 or more hours in the past 3 months. Number of Houses (1000s) Number of Times Owner Occupied Renter Occupied 0 547 23 1 5,012 541 2 6,110 3,734 3 2,544 8,660 4 times or more 557 3,784 Do not round intermediate calculations. Round your answers to two decimal places. a. Define a random variable x = number of times that owner-occupied units had a water supply stoppage lasting 6 or more hours in the past 3 months and develop a probability distribution for the random variable. (Let x = 4 represent 4 or more times.) x f(x) 0 .96 1 .9 2 .62 3 .23 4 .13 Total 2.84 b. Compute the expected value and variance for x. Total E(x) Var(x) c. Define a random variable y = number of times that renter-occupied units had a water supply stoppage lasting 6 or more hours in the past 3 months and develop a probability distribution for the random variable. (Let y = 4 represent 4 or more times.) y f(y) 0 1 2 3 4 Total d. Compute the expected value and variance for y. Total E(y) Var(y)