Gallup found in 2013 that 58% of Americans worry a great deal or a fair amount about global warming, up from 55% in 2012. Results for this Gallup poll were based on telephone interviews performed on March $7-10,2013$, with a random sample of 1022 adults, aged 18 and older, living in the United States. Does the increase from 2012 to 2013 show a substantial increase in concern?

c) Perform the test and find the $P$-value.

A real estate broker in Washington, DC, purchased 3 two-bedroom houses in a depressed market for a combined cost of $\$ 1,000,000$. He expects the cleaning and repair costs on each house to average $\$ 100,000$ with a standard deviation of $\$ 15,000$. When he sells them, after subtracting taxes and other closing costs, he expects to realize an average of $\$ 475,000$ per house, with a standard deviation of $\$ 12,500$.

a) Describe your random variables, and use them to create a random variable for the broker's net profit.

Gallup previously found that the percentage of Americans who worry a great deal or a fair amount about global warming was $60 \%$ in 2009. Do the responses to this problem and in the earlier exercise provide evidence that concerns about global warming have decreased since 2009?

b) Check the assumptions and conditions.

A real estate broker in Washington, DC, purchased 3 two-bedroom houses in a depressed market for a combined cost of $\$ 1,000,000$. He expects the cleaning and repair costs on each house to average $\$ 100,000$ with a standard deviation of $\$ 15,000$. When he sells them, after subtracting taxes and other closing costs, he expects to realize an average of $\$ 475,000$ per house, with a standard deviation of $\$ 12,500$.

c) What is the standard deviation of the net profit?

A real estate broker in Washington, DC, purchased 3 two-bedroom houses in a depressed market for a combined cost of $\$ 1,000,000$. He expects the cleaning and repair costs on each house to average $\$ 100,000$ with a standard deviation of $\$ 15,000$. When he sells them, after subtracting taxes and other closing costs, he expects to realize an average of $\$ 475,000$ per house, with a standard deviation of $\$ 12,500$.

d) Do you have to assume independence for the repairs and sale prices of the houses? Describe.

Just before a referendum on a school budget, a local newspaper polls 400 voters in an attempt to predict whether the budget will pass. Suppose that the budget actually has the support of 52% of the voters. What’s the probability the newspaper’s sample will lead them to predict defeat? Be sure to verify that the assumptions and conditions necessary for your analysis are met.

Gallup previously found that the percentage of Americans who worry a great deal or a fair amount about global warming was $60 \%$ in 2009. Do the responses to this problem and in the earlier exercise provide evidence that concerns about global warming have decreased since 2009?

a) Write appropriate hypotheses.

Gallup found in 2013 that 58% of Americans worry a great deal or a fair amount about global warming, up from 55% in 2012. Results for this Gallup poll were based on telephone interviews performed on March $7-10,2013$, with a random sample of 1022 adults, aged 18 and older, living in the United States. Does the increase from 2012 to 2013 show a substantial increase in concern?

e) Do you think this difference is meaningful? Explain.

Use the data listed below. The values are the number of credit hours taken in the current semester by full-time students of the author.

Use the data to construct a $95 \%$ confidence interval estimate of the number of credit hours taken by the population of full-time students. Write a brief statement that interprets the result.

When a person takes a pill, the amount of the drug contained in the pill is immediately inside the body. Comment whether the function that describes the amount of the drug inside the body with respect to time is a continuous function.

Just before a referendum on a school budget, a local newspaper polls 400 voters in an attempt to predict whether the budget will pass. Assume that the budget actually has the support of $52 \%$ of the voters. What's the chance the newspaper's sample will lead them to predict defeat? Be sure to verify that the assumptions and conditions necessary for your research are met.

Just before a referendum on a school budget, a local newspaper polls $300$ voters in an attempt to predict whether the budget will pass or not. Assume that the budget actually has the support of $53\%$ of the voters. What’s the probability that the newspaper’s sample will lead them to predict defeat ?

Think of an example of each of these vocabulary terms in everyday life.

Content Vocabulary:

• Private enterprise
• Patent
• Trademark
• Copyright
• Competition
• Price competition
• Nonprice competition
• Monopoly
• Business risk
• Profit
• Supply
• Demand
• Domestic business
• Global business
• For-profit business
• Nonprofit organization
• Public sector
• Private sector
• Industry
• Derived demand
• Wholesalers
• Retailers
• Production
• Management
• Finance
• Accounting

Academic Vocabulary:

• Purchase
• Interact
• Trend
• Generate

According to a global survey of 4,400 parents of children between the ages of 14 to $17,44 \%$ of parents spy on their teen's Facebook account (www.msnbc.com, April 25, 2012). Assume that American parents account for $10 \%$ of all parents of teens with Facebook accounts, of which $60 \%$ spy on their teen's Facebook account. Suppose a parent is randomly selected, and the following events are defined: $A=$ selecting an American parent and $B=$ selecting a spying parent.

b. Are the events $A$ and $B$ mutually exclusive and/or exhaustive? Explain.