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Probability. Question 2: Sampling
#1 Probability. Please provide a spreadsheet and show work.
A survey of 200 college graduates who have been working for at least 3 years found that 90 owned only mutual funds, 20 owned only stocks, and 70 owned both.What is the probability that an individual owns a stock? A mutual fund? What is the probability that an individual owns neither stocks nor mutual funds? What is the probability that an individual owns either a stock or a mutual fund?
#2 Sampling. Please provide a spreadsheet and show work.
A study of nonfatal occupational injuries in the United States found that about 31% of all injuries in the service sector involved the back. The National Institute for Occupational Safety and Health (NIOSH) recommended conducting a comprehensive ergonomics assessment of jobs and workstations. In response to this information, Mark Glassmeyer developed a unique ergonomic handcart to help field service engineers be more productive and also to reduce back injuries from lifting parts and equipment during service calls. Using a sample of 382 field service engineers who were provided with these carts, Mark collected the following data:
Year 1 Year 2
(Without Cart) (With Cart)
Average call time 8.27 hours 7.98 hours
Standard deviation call time 1.36 hours 1.21 hours
Proportion of back injuries 0.018 0.010
Find 95% confidence intervals for the average call times and proportion of back injuries in each year. What conclusions would you reach based on your results?