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# mean and the standard deviation

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The following dtables provide information about the top women-owned businesses in the U.S. The first table gives year 2000 revenue in millions of dollars and number of employees for Pennsylvania women-owned companies with year 2000 revenues of \$70 million or higher. The second table gibes the same information for Michigan women-owned companies with year 2000 revenues of \$70 million or higher.

Pennsylvania compa 2000 revenue (\$ million) number of employees

84 lumber 2000 4400
Charming shoppes 1600 12000
Rodale 500 1300
Mothers work 366.3 3800
Harmelin media 200 105
Wetherill associates 135 500
Hanna holdings 73.7 1284

Michigan companies 2000 revenue (\$million) number of employees

Ilitch holdings 800 700
Plastech engineer 420 3500
Jerome-duncan ford 350 300
Elder ford 287.6 108
Patsy Lou 221 240
Mexican ind 174 1463
Rush trucking 153 2000
jaguar-saab 143 134
manpower metro 118 250
continental plastic 107 650
leco 82 800
rodgers chevrolet 75 80
strategic staffing 75 600
two men & a truck 75 40
systrand manu 72 230

question a. use a calculator or computer to compute the mean and standard deviation of the year 2000 revenue for the Pennsylvania companies in the first table.

question b. use a calculation or computer to compute the mean and standard deviation of the year 2000 revenue for the Michigan companies in the second table.

question c. explain what the values you calculatwd in parts a and b of this exploration tell you about the data sets.

question d. how would the mean and standard deviation change if the largest data value in each set were removed?

question e. find the mean and the standard deviation of the number of employees for the Pennsylvania companies in the first table.

question f. find the mean and the standard deviation of the number of employees for the Michigan companies in the second table and compare to your results in part e of the exploration.

#### Solution Summary

This solution finds the mean and the standard deviation of the number.

\$2.19

## Business Statistics: Mean, Standard Deviations

I could use some help with the following. Could you please explain how you get the answer to the following questions in detail please so I can compare them to mine? I do not understand my book very well and I want to make sure I understand them correctly before I turn them in. Thank you

My first question is;

The mean starting salary for college graduates in the spring of 2004 was \$36,280.
I am asking to assume the distribution of starting salaries follows the normal distribution with a standard deviation of \$3,300.

What percentage of the graduates has starting salaries?

a) Between \$35,000 and 45,000
b) More than \$45,000
c) Between \$40,000 and 45,000

My second question is;

I am ask to assume a binomial probability distribution with n=40 and (pi) =.55 and compute the following
a) The mean and standard deviation of random variable
b) The probability that X is 25 or greater
c) The probability that X is 15 or less
d) The probability that X is between 15 and 25 inclusive

My third question;

A recent study by the Greater Los Angeles Taxi Drivers Association showed that the mean fare charged for service from Hermosa Beach to the Los Angeles International Airport is \$18.00 and the standard deviation is \$3.50.

I am ask to select a sample of 15 fares and answer a and b. Please explain how you got your answer so I can compare it to mine.

a) What is the likelihood that the sample mean is btw \$17.00 and 20.00?
b) What must you assume to make the above calculation?

My last question;
Dr. Patton is a Professor of English. Recently he counted the number of misspelled words in a group of student's essays. For his class of 40 students, the mean number of misspelled words was 6.05 and the standard deviation 2.44 per essay.

I need help constructing a 95 percent confidence interval for the mean number of misspelled words in the population of student essays.

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