What is the probability that an account is paid off

Reference no: EM13901979

Problems #1 - 6 refer to the data in the file "movie data,"

1. Organize the data for "Noms"(nominations) in an ungrouped frequency distribution. Show how to use the frequency distribution to find the mean, median, and standard deviation. Find the percent of observations within 1, 2 and 3 standard deviations of the mean for the "noms" data.

2. Make a grouped frequency distribution for "% of box office before nom" using 0.1 - 20 as the class limits of the first class. Draw a histogram and discuss its shape. Predict, from the shape of the histogram, whether the mean is greater than the median or vice-versa. Calculate the mean and the median. Was your prediction correct?

3. Make and interpret the meaning of a 99% confidence interval for the run time for all movies using the data given for the run time for this sample of movies.

4. Conduct a hypothesis test to determine whether the mean box office for films released in December or November is higher than the mean box office for films released in other months using α = 0.01

5. Determine the correlation coefficient between production budget and the number of theatres and interpret its meaning. Plot a scatterplot.

6. Find the least squares linear regression equation for production budget and run time. Interpret the meaning of the slope and the y-intercept.

7. A search engine company claims that 40% of people who use its site click for more information about its advertisers' products. Assuming that claim is true,

(a) What is the probability that at least one out of the next 5 people who use the site will click for more information?

(b) Estimate, using the normal distribution, the probability that at least 10 out of the next 50 people who use the site will click for more information.

(c) Write a few sentences describing why the answer to (b) is higher than the answer to part (a). Why would the answer be even higher if you estimated the probability that at least 1000 out of 5000 click for more info?

8. An accountant is studying the time it takes a company to make payments on accounts payable. The mean time it takes to pay off an invoice is 10.8 days with a standard deviation of 4.3 days, and the times are normally distributed.

(a) What is the probability that an account is paid off in less than 13 days?

(b) Find the 95th percentile for the payoff time- that is, a time for which 95% of the accounts are paid off in less than that time.

(c) The company has just received 29 invoices. Find the probability that the mean payoff time for these invoices is more than 13 days.

9. Suppose heights of U.S. adults are normally distributed with a mean of 66.3 and a standard deviation of 4.4 inches.

(a) Find the height such that 75% of the population is less than this height. (the 7 percentile)

(b) What percent of US adults are taller than 64 inches?

10. In a poll, 341 out of 775 New York voters surveyed indicated that they approve of the job DeBlasio has done as mayor. Make a 99% confidence interval for the percentage of all New York voters who would approve of DeBlasio's performance as mayor. Describe the meaning of the interval that you found.

11. The National Health and Nutrition Examination Survey done in 2013 concluded that the average American adult male, age 20 years and older, consumes 2,638 calories daily, and the average adult female of that age group consumes 1,785 calories. The new report is based on data collected from "a nationally representative sample of about 10,000 people in the U.S."

a. What is the population of the study?

b. What are the parameters?

c. What are the statistics?

d. What is the sample?

e. What type of data was gathered? Explain.

Attachment:- Movie Data.rar

Reference no: EM13901979

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