A researcher studied the relationship between the salary of a working woman with school-aged children and the number of children she had. The results are shown in the following frequency table:
Number of Children
|
Salary |
2 or fewer children |
more than 2 children |
|
high salary |
13 |
2 |
|
medium salary |
20 |
10 |
|
low salary |
30 |
25 |
If a working woman has more than 2 children, what is the probability she has a low or medium salary?
A. 0.79 B. 0.45 C. 0.35 D. 0.95
14. The expected number of heads in 410 tosses of a fair coin is:
In: Math
2.
a) Suppose that a bag contains six slips of paper: one with the number 1 written on it, two with the number 2, and three with the number 3. What is the expected value of the number drawn if one slip is selected at random from the bag? Type your answer as a fraction. Ex: 5/2
b) For the question above, what is the variance of the number drawn if one slip is selected at random from the bag? Type your answer as a fraction. Example: 5/2.
3. What is the probability that a random person who tests positive for a certain blood disease actually has the disease, if we know that 1% of the population has the disease, that 95% of those who have the disease test positive for it, and 2% of those who do not have the disease test positive for it. Type your answer as a decimal to the nearest thousandth. Example 0.233.
In: Statistics and Probability
A new casino game involves rolling 3 dice. The winnings are directly proportional to the total number of sixes rolled. Suppose a gambler brings his own dice and plays the game 100 times, with the following observed results (number of sixes, number of rolls): (0, 48), (1, 35), (2, 15), (3, 3). The casino becomes suspicious of the gambler and asks you to determine whether the dice are fair. If the dice are fair, you would expect the probability of rolling a 6 on any given toss to be 1/6. Assuming that the number of sixes in the three rolls are independent, the number of sixes in three rolls should follow a Binomial Distribution with n=3 and p=1/6. Using a level of significance of 0.01, what is the critical statistical value to determine whether or not the binomial distribution is a good fit for this data? Report answer to 3 significant figures.
In: Statistics and Probability
According to the 2010 US Census, the average number of residents per housing
unit for the n=87 counties in Minnesota was 2.10, and the standard deviation
was 0.38. Test whether the true mean number of residents per housing unit
in Minnesota in 2010 is less than the national value of 2.34 at the level
α
= 0
.
05.
a. Show all five steps of this test.
b. What type of error could we be making in this context?
c. What is the minimum average number of residents per household needed
in order to fail to reject H0? Assume the sample standard deviation is the same.
d. Suppose the true number of residents per household in Minnesota is normally
distributed with a mean of 2.0 and a standard deviation of 0.4. Suppose we reject
the null hypothesis if the sample means the number of residents is less than 2.27. What
is the probability of making a type II error?
In: Math
The Census Bureau gives this distribution for the number of people in American households in a certain year.
| Family Size | Proportion |
|---|---|
| 1 | 0.29 |
| 2 | 0.34 |
| 3 | 0.15 |
| 4 | 0.13 |
| 5 | 0.06 |
| 6 | 0.02 |
| 7 | 0.01 |
Note: In this table, 7 actually represents households of size 7 or greater. But for purposes of this exercise, assume that it means only households of size exactly 7.)
(a)
This is also the probability distribution for the size of randomly chosen households. The expected value of this distribution is the average number of people in a household. What is this expected value?
people
(b)
Suppose you take a random sample of 1,000 American households. About how many of these households will be of size 2?
households
About how many of these households will be of sizes 3 to 7?
households
(c)
Based on your calculations in part (b), how many people are represented in your sample of 1,000 households? (Hint: The number of individuals in your sample who live in households of size 7 is 7 times the number of households of size 7. Repeat this reasoning to determine the number of individuals in households of sizes 1 to 6. Add the results to get the total number of people represented in your sample.)
people
Calculate the probability distribution for the household size lived in by individual people. (Round your answers to four decimal places.)
| Family Size | Proportion |
|---|---|
| 1 | |
| 2 | |
| 3 | |
| 4 | |
| 5 | |
| 6 | |
| 7 |
Describe the shape of this distribution. What does this shape tell you about household structure? (Round your mean to one decimal place.)
The distribution is ---Select--- left skewed symmetric right skewed , with a median of and a mean of around people.
In: Statistics and Probability
A switching board receives a random number of phone calls. The expected number of calls is 7.4 per minute. Assume that distribution of the number of calls is Poisson. The average number of calls per minute is recorded by counting the total number of calls received in one hour, divided by 60, the number of minutes in an hour. In the next 4 questions you are asked to apply the Normal approximation to the distribution of the sample average using this information. The answer may be rounded up to 3 decimal places of the actual value: Question 122 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The expectation of the average is Answer: Question 123 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The standard deviation of the average is Answer: Question 124 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The probability that the average is less than 7 Answer: Question 125 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The probability that number of calls in a random minute is less than 7 is Answer . (Note, the question is with resect to a random minute, and not the average.) Information Not flaggedFlag question Information text It is claimed that the expected length of time some computer part may work before requiring a reboot is 3.5 months. In order to examine this claim 70 identical parts are set to work. Assume that the distribution of the length of time the part can work (in months) is Exponential. In the next 4 questions you are asked to apply the Normal approximation to the distribution of the average of the 70 parts that are examined. The answer may be rounded up to 3 decimal places of the actual value: Question 126 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The expectation of the average is Answer: Question 127 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The standard deviation of the average is Answer: Question 128 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The central region that contains 90% of the distribution of the average is of the form E(X) ± c, where E(X) is the expectation of the sample average. The value of c is Answer: Question 129 Not yet answered Marked out of 1.00 Not flaggedFlag question Question text The probability that the average is more than 4 months is Answer:
In: Statistics and Probability
A village has six residents, each of whom has accumulated savings of $100. Each villager can use this money either to buy a government bond that pays 18 percent interest per year or to buy a year-old llama, send it onto the commons to graze, and sell it after 1 year. The price the villager gets for the 2-year-old llama depends on the quality of the fleece it grows while grazing on the commons. That in turn depends on the animal’s access to grazing, which depends on the number of llamas sent to the commons, as shown in the following table: Number of llamas on the commons Price per 2-year-old llama ($) 1 125 2 119 3 116 4 113 5 111 6 109 The villagers make their investment decisions one after another, and their decisions are public.
c. The village
committee votes to auction the right to graze llamas on the commons
to the highest bidder. Assuming villagers can both borrow and lend
at 18 percent annual interest, how much will the right sell for at
auction?
Instructions: Enter your response rounded to two
decimal places.
$
What will be the
resulting village income?
Instructions: Enter your response as a whole
number.
Village income: $
In: Economics
Total Solution Ltd. is rendering its service on Network Solution to two types of customers: Company and Household. It categorised its operating department into: Company-Service and Household Service. Total Solution Ltd. also has two support departments: Administration (Admin) and Technician (Tech). Each of the operating departments conducts its operations independently. Total Solution Ltd. uses the number of technician’s hours used to allocate Tech costs and the number of admin staff used to allocate Admin costs. The following data are available for May 2020. Support Departments Operating Departments Admin Tech Company Household Budgeted costs $1,355,000 $3,200,000 $5,000,000 $4,000,000 Budgeted processing time (in min) 1,000 --- 1,600 2,400 Number of employees --- 15 9 36 Required (show your workings): Allocate the cost from support department to operating department and determine the total budgeted cost of each operating department after the cost has been allocated from the support department using the following method:
(a) Direct method
(b) Step-down method if the support department with highest dollar amount is allocated first. (c) Reciprocal method (using linear equation)
In: Accounting
L. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant classify these items according to an ABC classification system?
(Round dollar volume to the nearest whole number and percentage of dollar volume to two decimal places.)
Item Code Avg. Inventory (units) Value
($/unit) Dollar
Volume % of dollar
volume
1289 400
3.50
_____
______
2347 300
4.00
1,200
36.97
2349 120
2.50
300
9.24
2363 65
1.50
____
____
2394
60
1.75
105
3.23
2395 25
1.75
____
_____
6782
20
1.15
23
0.71
7844 12
2.05
25
0.76
8210 10
2.00
___
___
8310 7
2.00
14
0.43
9111
6
3.00
18
0.55
___________
3,246
What is the highest dollar volume percentage?
The concept of ABC category analysis is based on
A. statistical sampling, i.e., sampling a few items to get control of the whole inventory.
B.controlling the maximum number of inventory items with moderate effort.
C.controlling the maximum number of inventory items with minimal effort.
D.controlling the maximum amount of money with minimal effort.
In: Advanced Math
Internet Case 12.7 – Analyzing Stockholders’ Equity and EPS
(MUST POST FIRST) Initial Post – As an employee, write an internal memo to your manager addressing the following:
Using the Internet, locate the most recent annual report of a company of your choosing and write an initial post by responding to the following:
Do not research the company listed in the text.
1. For the most recent day indicated, what were the highest and
lowest prices at which the company’s common stock sold?
2. Find the company’s balance sheet and determine the following:
the number of outstanding shares of common stock and the average
price at which those shares were originally sold.
3. What is the relationship between the current market price and
the amount you have calculated in part b as the average price at
which the stock originally sold?
4. Find the company’s income statement and identify the trend in
basic earnings per share, including discontinued operations. Did
discontinued operations have a significant impact on EPS?
5. For the most recent year, what is the average number of shares
of common stock that was used to compute basic earnings per share?
Why is that number different from the number outstanding in the
company’s balance sheet?
Please help me answer these questions For AMD (Advanced Micro Devices). No hand written/photo answers. Thank you.
In: Accounting