Busi 2305 Chapter 3 HW

In June, an investor purchased 300 shares of Oracle (an information technology company) stock at $53 per share. In August, she purchased an additional 400 shares at $42 per share. In November, she purchased an additional 400 shares at $45. What is the weighted mean price per share? (Round your answer to 2 decimal places.)

((300*53)+(400*42)+(400*45)/300+400+400) 15,900+16800+18000/1100 50700/1100=46.09

The Loris Healthcare System employs 200 persons on the nursing staff. Fifty are nurse's aides, 50 are practical nurses, and 100 are registered nurses. Nurse's aides receive $12 an hour, practical nurses $20 an hour, and registered nurses $29 an hour.What is the weighted mean hourly wage? (Round your answer to 2 decimal places.)

((50*12)+(50*20)+(100*29)/50+50+100) (600+1000+2900/200) (4500/200) 22.5

Compute the mean of the following sample values: 16.25, 12.91, 14.58. (Round your answer to 2 decimal places.)

14.58

Compute the mean of the following population values: 6, 3, 5, 7, 6. (Round your answer to 1 decimal place.)

6+3+5+7+6=27 27/5=5.4

AAA Heating and Air Conditioning completed 30 jobs last month with a mean revenue of $5,430 per job. The president wants to know the total revenue for the month. Based on the limited information, compute the total revenue.

Completed jobs last month is N=30 and the mean revenue per job is μ=$5430. Now, μ=ΣX/N​ ⇒5430=ΣX/N​⇒ΣX=5430×30 ⇒ΣX=162900​ Total revenue for the month is $162900

Sally Reynolds sells real estate along the coastal area of Northern California. Below are her total annual commissions between 2010 and 2020. 2010 $292.16 2011 $233.80 2012 $206.97 2013 $202.67 2014 $164.69 2015 $206.53 2016 $237.51 2017 $225.57 2018 $255.33 2019 $248.14 2020 $269.11 Find the mean, median, and mode of the commissions she earned for the 11 years. (Round your answers to 2 decimal places.)

Mean= 231.13 Median= Arrange all values in an ascending order. Then, Median===== (N+12) (11+1/2)th (12/2)th 6th observation =233.80 Mode= No Mode

The following is the percent change in net income from last year to this year for a sample of 12 construction companies in Denver. 5, 1, −10, −6, 5, 12, 7, 8, 6, 5, −1, 11 Determine the mean, median, and mode. (Round "Mean" to 2 decimal places.)

Means=3.58 Median=5% Mode=5%

During last weekend's sale, there were five customer service representatives on duty at the Electronic Super Store. The number of HDTVs these representatives sold were 5, 8, 4, 10, and 3. a. Calculate the range. b. Calculate the arithmetic mean c. Calculate the variance. (Round your answer to 1 decimal place.)

a. 10-3=7 b. =5+8+4+10+3 =30​ 30/5=6​ c.(5−6)^2+(8−6)^2+(4−6)^2+(10−6)^2+(3−6)^2 ​=(−1)^2+(2)^2+(−2)^2+(4)^2+(−3)^2​=34/5​=6.8​

There are 10 salespeople employed by Midtown Ford. The number of new cars sold last month by the respective salespeople were: 15, 23, 4, 19, 18, 10, 10, 8, 28, 19. a. Compute the arithmetic mean. (Round your answer to 1 decimal place.) b. Indicate whether it is a statistic or a parameter.

a. 15.4 b. Parameter- because all the salespeople employed by the Midtown Ford are used for calculating the arithmetic mean.

All eight companies in the aerospace industry were surveyed as to their return on investment last year. The results are (in percent) 10.6, 12.6, 14.8, 18.2, 12.0, 14.8, 12.2, and 15.6. a. Calculate the range. (Round your answer to 2 decimal places.) b. Calculate the arithmetic mean. (Round your answer to 2 decimal places.) c. Calculate the variance. (Round your answer to 2 decimal places.)

a. 18.2-10.6=7.60 b. 10.6+12.6+14.8+18.2+12.0+14.8+12.2+15.6=110.8 110.8/8=13.85 c. ((10.6−13.85)^2+(12.6−13.85)^2+(14.8−13.85)^2+(18.2−13.85)^2+(12.0−13.85)^2+(14.8−13.85)^2+(12.2−13.85)^2+(15.6−13.85)^2/8)=42.06​ ​42.06/8=5.26

a. Compute the mean of the following sample values: 5, 9, 4, 10. b. Is Σ(X−x(x has a line over it))=0 true or false?

a. 5+9+4+10=28 28/4=7 b. true

The Grand City Water and Sewer Company selected a random sample of 20 residential customers. Following are the amounts, to the nearest dollar, the customers were charged for water and sewer last month: 54, 48, 58, 50, 25, 47, 75, 46, 60, 70, 67, 68, 39, 35, 56, 66, 33, 62, 65, 67 a. Compute the arithmetic mean. (Round your answer to 2 decimal places.) b. Indicate whether it is a statistic or a parameter.

a. 54.55 b. statistic

Consider these five values a population: 8, 3, 7, 3, and 4. a. Determine the mean of the population. b. Determine the variance of the population. (Round your answer to 2 decimal places.)

a. 8+3+7+3+4=25/5=5 b. (8-5)^2+(3-5)^2+(7-5)^2+(3-5)^2+(4-5)^2= 3^2+-2^2+2^2+-2^2+-1^2=22 22/5=4.4

The following graph portrays the distribution of the number of spicy chicken sandwiches sold at a nearby Wendy's for the last 141 days. The mean number of sandwiches sold per day is 91.9 and the standard deviation is 4.67. (Round your answers to 2 decimal places.) a. If we use the Empirical Rule, on 68 percent of the days sales will be between and b. On 95 percent of the days sales will be between and

a. 91.9-4.67, 91.9+4.67 87.23 and 96.57 b. 91.9-(2*4.67), 91.9+(2*4.67) 91.9-9.34, 91.9+9.34 82.56 and 101.24

A sample of 25 undergraduates reported the following dollar amounts of entertainment expenses last year: 684 710 688 711 722 698 723 743 738 722 696 721 685 763 681 731 736 771 693 701 737 717 752 710 697 a. Find the mean, median, and mode of this information. (Round the "Median" to whole numbers and the "Mean" to 2 decimal places.) b. What are the range and standard deviation? (Round the "Range" to whole numbers and the "Mean" to 2 decimal places.) c. Use the Empirical Rule to establish an interval which includes about 95 percent of the observations. (Round your answers to 2 decimal places.)

a. Mean=684+710+688+711+722+698+723+743+738+722+696+721+685+763+681+731+736+771+693+701+737+717+752+710+697=17930 17930/25= 717.20 Median= 717 Mode= 710 and 722 b. range =90 standard Deviation= Square root of 14850/24=24.88 c. the interval is from 667.36 up to 766.94

The distribution of the weights of a sample of 1,400 cargo containers is symmetric and bell-shaped. a. According to the Empirical Rule, what percent of the weights will lie between X(line over x)−2s and X(line over x)+2s? (Round your answer to 2 decimal places.) b-1. According to the Empirical Rule, what percent of the weights will lie between X(line over x) and X(line over x)+2s? (Round your answer to 2 decimal places.) b-2. According to the Empirical Rule, what percent of the weights will lie above X(line over x)−2s? (Round your answer to 2 decimal places.)

a.95.% b.47.5% c.2.5%