Listed below are the gross amounts (in millions of dollars) earned in box office receipts for a recent movie. The amounts are listed in order for the first 14 days of the movies release. Find the range, variance, and standard deviation of the data set.
If you invested in this movie, what characteristic of the data set would you care about most and is it a measure of center or variation?
59, 49, 48, 48, 42, 35, 34, 24, 21, 21, 20, 8, 6, 4
6. Refer to the sample data for pre-employment drug screening shown below. If one of the subjects is randomly selected, what is the probability that the test results is a false positive? Who would suffer from a false positive result? Why?
Pre-Employment Drug Screening Results
Positive Test Result Negative Test Result
Drug Use Is Indicated Drug Use Is Not Indicated
Subject Uses Drugs 37 9
Subject Is Not a Drug User 18 32
7. Determine whether the two events are disjoint for a single trial. (Hint: Consider "disjoint" to be equivalent to "separate" or "not overlapping".) Why?
Randomly selecting a piano from the instrument assembly line and getting one that is free of defects.
Randomly selecting a piano from the instrument assembly line and getting one with a missing key.
8. For the given pair of events A and B, complete parts (a) and (b) below.
A: When a baby is born, is it a boy.
B: When a 5-sided die is rolled, the outcome is 1.
a. Determine whether A and b are independent or dependent. (If the two events are technically dependent but can be treated as if they are independent according to 5% guideline, consider hem to be independent.)
b. Find P(A and B), the probability that events A and B both occur.
The solution gives detailed steps on solving some questions on descriptive statistics: probability, range, variance, independent events and disjoint events.
Descriptive Statistics Example Questions
What are some conditions under which business decisions are made using subjective probability concepts? Give examples of subjective probability.
Give three different examples of where you might apply descriptive statistics in a workplace. Explain why each is appropriate for the data you are describing.
Where might you use the concept of the normal distribution (or departure from it) in the workplace? Give specific examples.View Full Posting Details