Business and Finance Homework

Need finance homework help? Ask an Expert

Connect one-on-one with {0} who will answer your question

Related Business and Finance Homework Questions
A random sample of 65 high school students has a normal
a random sample of 65 high school students has a normal distribution. The sample mean average ACT exam score was 21.4 with a 3.2 sample standard deviation. Construct a 90% confidence interval estimate… read more
Nathan Weaver
Nathan Weaver
Virtual Mathematics Teacher
Master's Degree
13 satisfied customers
A random sample of 15 health maintenance organizations
A random sample of 15 health maintenance organizations (HMOs) was selected. For each HMO, the co-payment (in dollars) for a doctor's office visit was recorded. The results are as follows: 8, 11, 10, 9… read more
R.R. Jha
R.R. Jha
Bachelor's Degree
6,465 satisfied customers
A production batch of 300 circuit boards contains 6 that are
A production batch of 300 circuit boards contains 6 that are defective. Two are selected, at random, from the batch. Let A1 and A2 represent the events that the first and second board are defective, r… read more
R.R. Jha
R.R. Jha
Bachelor's Degree
6,465 satisfied customers
I need the answer to the questions: 1. A consultant for Dell
1. A consultant for Dell was investigating computer usage among students at a particular university. 200 undergraduates and 100 postgraduates were chosen and asked if they owned a laptop. It was found that 81 of the undergraduates and 63 of the postgraduates owned a laptop. The consultant calculated that 48% (144 out of 300) of the students interviewed owned a laptop. Explain, with reasons, whether the figure of 48% would be a good estimate of the proportion of all students who own a laptop. Hint: The answer is ‘Well James, it depends!', but obviously reasons are required! (10 marks) 2. A 95% confidence interval for the mean income of shop assistants in a certain city, based on a random sample of n shop assistants, is found to be (£18,000, £21,000). Explain what this means briefly (in at most 2–3 sentences). Would a 90% confidence interval be better than a 95% confidence interval? Justify your answer. Hint: The answer is ‘Well James, it depends!', but obviously reasons are required! (10 marks) 3. For a certain variable, the standard deviation in a large population is equal to 16. How large a random sample is needed to be 99% confident that the sample mean is within 2 units of the population mean? Would you recommend a confidence level other than 99%? Hint 1: Use the confidence interval Excel utility. Hint 2: The answer is ‘Well James, it depends!', but obviously reasons are required! (10 marks) 4. An accounting firm wishes to test the claim that no more than 6% of a large number of transactions contain errors. In order to test this claim, they examine a random sample of 225 transactions and find that exactly 20 of these are in error. What conclusion should the firm draw? Use a 5% significance level. Hint: Use the hypothesis testing Excel utility (one population). 5. Explain (in no more than a paragraph for each) the purpose of: (a) sampling (b) hypothesis testing. Discuss any advantages and limitations of each. 2 (10 marks) (10 marks) 6. A lumber company makes plywood for the furniture industry. One product it makes is 3/4-inch panels. It is very important that the panels conform to specifications. One specification calls for the panels to be made to an average thickness of 0.75 inches. Each hour, 5 panels are selected at random and measured. After 20 hours, a total of 100 panels have been measured (so the sample size is n = 100). The data are in the file ‘Lumber.xls'. (a) Based on the sample data, what should the company conclude about the status of its product meeting the thickness specification? Test at a 1% significance level. Discuss your results in a brief ‘executive summary' to the production manager. Hint: Use the hypothesis testing Excel utility (one population). (b) The production manager has looked at the results of your test. He wishes to repeat this sampling process and wants a rule to compare future X ̄ values only. So, based just on a sample mean of any new random sample of panels, without having to conduct a formal hypothesis test, he wishes to decide whether the thickness specification is being met, again using a 1% significance level. Develop a suitable rule. Hint: Use the hypothesis testing Excel utility (one population). (c) The manager wishes to know what type of error in (a) could have been made and what the potential consequences of the error might be. (25 marks) 7. A bookstore samples its order record to examine the number of days between placing an order and receiving the goods. The results (in days) are shown below. Assess and comment on the differences between surface transportation and air freight. You may use Excel! The data are in the file ‘Bookstore.xls'. Hint: This question is deliberately open-ended. You may investigate the data any way you like, for example calculating some descriptive statistics. Surface transportation 18 20 24 23 28 32 24 39 18 29 25 27 19 24 21 19 24 27 33 37 15 20 26 21 17 26 25 23 25 35 Air freight 12 12 13 21 18 14 9 16 18 14 13 11 15 11 17 14 12 13 11 17 19 16 14 14 12 … read more
F. Naz
F. Naz
Bachelor's Degree
CA Finalist & Completed B.com
602 satisfied customers
1.BankChoice is concerned about stagnating profits and asks,
1.BankChoice is concerned about stagnating profits and asks, "How can profitability be improved?" This is an example of a(n) _____.research questioninvestigative questionmanagement questionmeasurement… read more
GLENN GILONGOS
GLENN GILONGOS
Master of Mathematics
637 satisfied customers
Can you help?Business StatisticsInstructions: Remember
Can you help? Business Statistics Instructions: Remember to show your work if an answer requires a mathematical solution. 1. When the owner of a small business reviews her list of contracts for 2011, … read more
Ryan
Ryan
Bachelor's Degree
4,665 satisfied customers
1. Suppose that the mean of the annual return for common stocks
1. Suppose that the mean of the annual return for common stocks from 2000 to 2012 was 14.37%, and the standard deviation of the annual return was 35.14%. Suppose also that during the same 12-year time… read more
R.R. Jha
R.R. Jha
Bachelor's Degree
6,465 satisfied customers
Resolved Question: 1 A 95% confidence interval for the mean
Resolved Question: 1 A 95% confidence interval for the mean income of shop assistants in a certain city is found to be (£12,000, £15,000). Say in one sentence what this means. Would a 99% confidence int… read more
R.R. Jha
R.R. Jha
Bachelor's Degree
6,465 satisfied customers
MA260 Statistical Analysis IAssignment 1:Directions:
MA260 Statistical Analysis I Assignment 1: Directions: Sources must be cited in APA format. Your response should be a minimum of one (1) single-spaced page to a maximum of two (2) pages in length NOTE… read more
Mark Twain
Mark Twain
142 satisfied customers
9.After a series of major corporations admitted to large
9. After a series of major corporations admitted to large accounting irregularities, a public policy research institute conducts a survey to determine whether the public favors increased governmental … read more
SusanAthena
SusanAthena
Master's Degree
Master's Degree
13 satisfied customers
1 A 95% confidence interval for the mean income of shop assistants
1 A 95% confidence interval for the mean income of shop assistants in a certain city is found to be (£12,000, £15,000). Say in one sentence what this means. Would a 99% confidence interval be better tha… read more
R.R. Jha
R.R. Jha
Bachelor's Degree
6,465 satisfied customers
9. After a series of major corporations admitted to large
9. After a series of major corporations admitted to large accounting irregularities, a public policy research institute conducts a survey to determine whether the public favors increased governmental … read more
R.R. Jha
R.R. Jha
Bachelor's Degree
6,465 satisfied customers
16. Marginal probability is also called (Points : 4)
16. Marginal probability is also called (Points : 4) Simple probability Conditional probability Joint probability Bayes' theorem 17. If n = 10 and p = 0.70, then the standard deviation of the binomial… read more
Finley
Finley
Master's Degree
200 satisfied customers
Hello my question is for Business statistics is In order to
Hello my question is for Business statistics is In order to control costs, a company wishes to study the amount of money it's sales force spends entertaining clients. The following is a random sample … read more
unvrs
unvrs
Lecturer of Mathematics
Master's Degree
36 satisfied customers
Business Statistics:1) A random variable in a normally
Business Statistics: 1) A random variable in a normally distributed with μ = 300 pounds and σ = 50 pounds. How small can a simple random sample be if the standard error of the mean can be no more than… read more
unvrs
unvrs
Lecturer of Mathematics
Master's Degree
36 satisfied customers
Binomial problems Mean and standard deviation The workers
Binomial problems: Mean and standard deviation The workers' union at a certain university is quite strong. About 94% of all workers employed by the university belong to the workers' union. Recently, t… read more
Steve
Steve
Master's Degree
2,152 satisfied customers
In a simple random sample A. Every Kth item is selected
In a simple random sample A. Every Kth item is selected to be in the sample. B. Every item has a chance to be in the sample. C. Every item has the same chance to be in the sample. D. All of these We w… read more
Neo
Neo
10,957 satisfied customers
I need statistical verifaction of a process I have developed.
I need statistical verifaction of a process I have developed. I have a company with a online store locator. I need to select a sample of the stores from this locator and obtain an average drive time b… read more
SusanAthena
SusanAthena
Master's Degree
Master's Degree
13 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

I couldn't be more satisfied! This is the site I will always come to when I need a second opinion.

JustinKernersville, NC

Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around.

EstherWoodstock, NY

Thank you so much for taking your time and knowledge to support my concerns. Not only did you answer my questions, you even took it a step further with replying with more pertinent information I needed to know.

RobinElkton, Maryland

He answered my question promptly and gave me accurate, detailed information. If all of your experts are half as good, you have a great thing going here.

DianeDallas, TX

< Previous | Next >

Meet the Experts:

linda_us

linda_us

Master's Degree

852 satisfied customers

A tutor for Business, Finance, Accounts and other related topics.

F. Naz

F. Naz

Bachelor's Degree

602 satisfied customers

Have completed B.COM and CA Finalist

300 satisfied customers

dasdasd

Bizhelp

Bizhelp

Accountant

260 satisfied customers

BA degree and Certified Public Accountant

Mr. Gregory White

Mr. Gregory White

Master's Degree

215 satisfied customers

M.A., M.S. Education / Educational Administration

Brittany

Brittany

Professional

30 satisfied customers

AA/Accounting BS/Business

SusanAthena

SusanAthena

Master's Degree

13 satisfied customers

12 years experience consulting & management

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x