Statistics for Business and Economics (13th Edition)
13th Edition
ISBN: 9780134506593
Author: James T. McClave, P. George Benson, Terry Sincich
Publisher: PEARSON
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Chapter 1, Problem 1.22ACB
The “lucky store effect” in lottery ticket sales. In the American Economic Review (Vol. 98, 2008), University of Chicago researchers investigated the lucky store effect theory in lottery ticket sales, i.e., the theory that a lottery retail store that sold a large-prize-winning ticket will experience greater ticket sales the following week. The researchers examined the weekly ticket sales of all 24,400 active lottery retailers in Texas. The analysis showed that "the week following the sale of [a winning Lotto Texas ticket], the winning store experiences a 12 to 38 percent relative sales increase. . . . ”Consequently, the researchers project that future winning lottery retail stores will experience the lucky store effect. Is this study an example of descriptive statistics or
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Dr. Farah is an educational psychologist who is interested in studying the potential causal relationship between doing homework and academic achievement. In January, Dr. Farah has her students report their fall GPA (a measure of academic achievement) and estimate how many hours they spent doing homework during a typical week in the fall semester. In May, Dr. Farah measures the same variables again (the estimated number of hours spent doing homework during a typical week in the spring semester and their spring GPA). She finds the following correlations.
Imagine that Dr. Farah noted a cyclical, reinforcing relationship between homework and academic achievement. For this to be case, which of the following correlations would need to be significant?
a. Correlations 1 and 6
b. Correlations 2 and 5
c. Correlations 3 and 4
d. Correlations 2 and 3
Answer is C for this question. Why this one is the answer and others are not?
A global research study found that the majority of today's working women would prefer a better work-life balance to an
increased salary. One of the most important contributors to work-life balance identified by the survey was "flexibility," with
49% of women saying that having a flexible work schedule is either very important or extremely important to their career
success. Suppose you select a sample of 100 working women. Answer parts (a) through (d).
...
a. What is the probability that in the sample fewer than 55% say that having a flexible work schedule is either very
important or extremely important to their career success?
0.8849 (Round to four decimal places as needed.)
b. What is the probability that in the sample between 46% and 55% say that having a flexible work schedule is either very
important or extremely important to their career success?
0.6108 (Round to four decimal places as needed.)
c. What is the probability that in the sample more than 54% say that having a flexible…
Chapter 1 Solutions
Statistics for Business and Economics (13th Edition)
Ch. 1 - What is statistics?Ch. 1 - Explain the difference between descriptive and...Ch. 1 - List and define the four elements of a descriptive...Ch. 1 - List and define the five elements of an...Ch. 1 - List the three major methods of collecting data...Ch. 1 - Explain the difference between quantitative and...Ch. 1 - Explain how populations and variables differ.Ch. 1 - Explain how populations and samples differ.Ch. 1 - What is a representative sample? What is its...Ch. 1 - Why would a statistician consider an inference...
Ch. 1 - Explain the difference between a population and a...Ch. 1 - Define statistical thinking.Ch. 1 - Suppose youre given a data set that classifies...Ch. 1 - Suppose that a population contains 200,000...Ch. 1 - The Random Numbers applet generates a list of n...Ch. 1 - The Random Numbers applet can be used to select a...Ch. 1 - Applying the ConceptsBasic 1.15 Performance-based...Ch. 1 - Jamming attacks on wireless networks. Terrorists...Ch. 1 - Disaggregation of annually reported accounting...Ch. 1 - College application data. Colleges and...Ch. 1 - Opinion polls. Pollsters regularly conduct opinion...Ch. 1 - Cybersecurity survey. The information systems...Ch. 1 - Treasury deficit prior to the Civil War. In Civil...Ch. 1 - The lucky store effect in lottery ticket sales. In...Ch. 1 - Consumer recycling behavior. Under what conditions...Ch. 1 - Who is better at multi-tasking? In business,...Ch. 1 - Zillow.com estimates of home values. Zillow.com is...Ch. 1 - Drafting NFL quarterbacks. The National Football...Ch. 1 - The economic return to earning an MBA. What are...Ch. 1 - Corporate sustainability and firm characteristics....Ch. 1 - Inspection of highway bridges. All highway bridges...Ch. 1 - Structurally deficient highway bridges. Refer to...Ch. 1 - Monitoring product quality. The Wallace Company of...Ch. 1 - Guilt in decision making. The effect of guilt...Ch. 1 - Accounting and Machiavellianism. Behavioral...Ch. 1 - Can money spent on gifts buy love? Is the gift you...Ch. 1 - Random-digit dialing. To ascertain the...Ch. 1 - Current population survey. The employment status...Ch. 1 - Monitoring the production of soft-drink cans. The...Ch. 1 - Sampling TV markets for a court case. A recent...Ch. 1 - Critical Thinking Challenge 1.40 20/20 survey...
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