For a sample of 36 houses, what would you wish the distribution of the sale prices to be? A real estate agent has been assigned 10 houses at random to sell this month. She wants to know whether the mean price of those houses is typical. What, if anything, does she need to assume about the distribution of prices to be able to use the Central Limit Theorem? Are those assumptions valid?

Games for the iPad have a distribution of prices that is skewed to the high end.

b) Members of the iPad gamers club each own about 50 games. Pat is one such member. What would you desire the shape of the distribution of game prices on her iPad to be?

Organizers of a fishing tournament believe that the lake holds a sizable population of large mouth bass. They assume that the weights of these fish have a model that is skewed to the right with a mean of 3.5 pounds and a standard deviation of 2.2 pounds.

Explain why a skewed model makes sense here.

The mayor of a small city has suggested that the state locate a new prison there, arguing that the construction project and resulting jobs will be good for the local economy. A total of 183 residents show up for a public hearing on the proposal, and a show of hands finds only 31 in favor of the prison project. What can the city council conclude about public support for the mayor’s initiative?

In a rural area, only about 30% of the wells that are drilled find adequate water at a depth of 100 feet or less. A local man claims to be able to find water by "dowsing"-using a forked stick to indicate where the well should be drilled. You check with 80 of his customers and find that 27 have wells less than 100 feet deep. What do you conclude about his claim? Perform the mechanics of the test. What is the P-value?

In a large Business Statistics class, the professor has each person select stocks by throwing 16 darts at pages of the Wall Street Journal. They then check to see whether their stock picks rose or fell the next day and report their proportion of "successes." As a lesson, the professor has selected pages of the Journal for which exactly half the publicly traded stocks went up and half went down. He watches a cable news show about investing and during the show throws his darts at the pages of the Journal. He claims that of 200 stocks picked in this manner, $58 \%$ were winners.

b) If there are 100 students in the class, are you surprised that one was this successful? Explain.

The mayor of a small city has suggested that the state locate a new prison there, arguing that the construction project and resulting jobs will be good for the local economy. A total of 183 residents show up for a public hearing on the proposal, and a show of hands finds only 31 in favor of the prison project. What can the city council conclude about public support for the mayor's initiative?

The proportion of adult women in the United States is approximately 51%. A marketing survey telephones 400 people at random. a) What proportion of the sample of 400 would you expect to be women? b) What would the standard deviation of the sampling distribution be? c) How man y women, on average, would you expect to find in a sample of that size?

In a large Business Statistics class, the professor has each person select stocks by throwing 16 darts at pages of the Wall Street Journal. They then check to see whether their stock picks rose or fell the next day and report their proportion of "successes." As a lesson, the professor has selected pages of the Journal for which exactly half the publicly traded stocks went up and half went down. He watches a cable news show about investing and during the show throws his darts at the pages of the Journal. He claims that of 200 stocks picked in this manner, $58 \%$ were winners.

a) What do you think of his claim? Explain.

Listed below are measured amounts of caffeine (mg per 12oz of drink) obtained in one can from each of 20 brands (7-UP, A&W Root Beer, Cherry Coke, ... , Tab). Are the statistics representative of the population of all cans of the same 20 brands consumed by Americans?

$$\begin{matrix} \text{0} & \text{0} & \text{34} & \text{34} & \text{34} & \text{45} & \text{41} & \text{51} & \text{55} & \text{36} & \text{47} & \text{41} & \text{0} & \text{0} & \text{53} & \text{54} & \text{38} & \text{0} & \text{41} & \text{47}\\ \end{matrix}$$

Home values tend to increase over time under normal conditions, but the recession of 2008 and 2009 has reportedly caused the sales price of existing homes to fall nationwide (BusinessWeek, March 9, 2009). You would like to see if the data support this conclusion. The file HomePrices contains data on 30 existing home sales in 2006 and 40 existing home sales in 2009. a. Provide a point estimate of the difference between the population mean prices for the two years. b. Develop a 99% confidence interval estimate of the difference between the resale prices of houses in 2006 and 2009. c. Would you feel justified in concluding that resale prices of existing homes have declined from 2006 to 2009? Why or why not?

What is the history of the Yadav caste?

The percentage of wins for the Chicago Bulls basketball team going into the playoffs for the 1996–97 season was 87.7. Round the 87.7 to 90 in order to use Table A.1. (a) What is the probability that the Bulls sweep (4-0) the initial best-of-7 playoff series? (b) What is the probability that the Bulls win the initial best-of-7 playoff series? (c) What very important assumption is made in answering parts (a) and (b)?

In a large Business Statistics class, the professor has each person select stocks by throwing 16 darts at pages of the Wall Street Journal. They then check to see whether their stock picks rose or fell the next day and report their proportion of "successes." As a lesson, the professor has selected pages of the Journal for which exactly half the publicly traded stocks went up and half went down. The professor then makes a histogram of the reported proportions.

b) Where do you wish the histogram to be centered?