Solution Manual for Statistics for Management and Economics, Abbreviated, 11th Edition

Solution Manual for Statistics for Management and Economics, Abbreviated, 11th Edition is packed with key takeaways, summaries, and study tips for effective learning.

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Chapter 11.2Descriptive techniques summarize data. Inferential techniques drawinferencesabout a population based onsample data.1.3 a The population is the 25,000 registered voters.bThe sample is the 200 registered voters.cThe 48% figure is the statistic1.4 a The population is the completeproduction run.b The sample is comprised of the 1,000 chips.c The parameter is the proportion of defective chips in the production run.d The statistic is the proportion of defective chips in the sample.e The 10% figure refers to the parameter.f The 7.5% figure refers to the statistic.g We can estimate the population proportionis 7.5%. Statistical inference methods will allow us to determinewhether we have enough statistical evidence to reject the claim.as the sample proportion.1.5 Draw a random sample from the population of graduates who have majored in your subject and a random sampleof graduates of other majors and record their highest salary offers.1.6 a Flip the coin (say 100 times)and record the number of heads(assuming that you are interested in the numberof heads).bThe population is composed of the theoretical result of flipping the coin an infinite number of times and recordingeither “heads” or “tails”.cThe sample is comprised of the “heads” and “tails” in the sample.d The parameter is the proportion of heads(again assuming that your interest is the number of heads rather thantails)in the population.e The statistic is the proportion of heads (or tails depending on the choice made in part d).fThe sample statistic can be used to judge whether the coin is actually fair.1.7a We would conclude that the coin is not fair.b We may conclude that there is some evidence that the coin is not fair.1.8 aThe population is made up of the propane mileage of all the cars in the fleet.bThe parameter is the mean propane mileage of all the cars in the fleet.cThe sample is composed of the propane mileage of the 50 cars.

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Statistics For Management And Econo...

Solution Manual for Statistics for Management and Economics, Abbreviated, 11th Edition

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