Questions and Answers of Essentials Of Modern Business Statistics With Microsoft Excel

Retail chain Kroger has more than 2700 locations and is the largest supermarket in the United States based on revenue. Kroger has invested heavily in data, technology, and analytics. Feeding
Jon Weideman, first shift foreman for Cut-Rate Machining, Inc., is attempting to decide on a vendor from whom to purchase a drilling machine. He narrows his alternatives to four vendors: The
The Pew Research Center Internet Project provides a variety of statistics on Internet users. For instance, in 2018, 11% (or 220) of the 2002 American adults surveyed were not Internet users. In 2000,
Fewer young people are driving. In 1995, 63.9% of people under 20 years old who were eligible had a driver’s license. Bloomberg reported that percentage had dropped to 41.7% in 2016. Suppose these
According to Box Office Mojo, the film Black Panther achieved the top opening weekend gross domestic box office ticket sales in 2018 with $202,033,951. The ticket sales revenue in dollars for a
Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $45,000 and $60,000. Assume that a 95% confidence interval estimate of the
Insure.com reports that the mean annual premium for automobile insurance in the United States was $1365 in 2018. Being from Pennsylvania, you believe automobile insurance is cheaper there and wish to
The U.S. Bureau of Labor Statistics reports that 10.2% of U.S. workers belonged to unions in 2018. Suppose a sample of 400 U.S. workers is collected in 2019 to determine whether union efforts to
In 2018, RAND Corporation researchers found that 71% of all individuals ages 66 to 69 are adequately prepared financially for retirement. Many financial planners have expressed concern that a smaller
The American Association of Individual Investors (AAII) conducts a weekly survey of its members to measure the percent who are bullish, bearish, and neutral on the stock market for the next six
Consumer Reports uses a survey of readers to obtain customer satisfaction ratings for the nation’s largest supermarkets (Consumer Reports website). Each survey respondent is asked to rate a
A personal fitness company produces both a deluxe and a standard model of a smoothie blender for home use. Selling prices obtained from a sample of retail outlets follow.a. The manufacturer’s
A sample of 16 items from population 1 has a sample variance s21 = 5.8 and a sample of 21 items from population 2 has a sample variance s22 = 2.4. Test the following hypotheses at the .05 level of
Battery life is an important issue for many smartphone owners. Public health studies have examined “low-battery anxiety” and acute anxiety called “nomophobia” that results when a smartphone
Grubhub is a service that delivers food that its customers order online from participating restaurants. Grubhub claims consistent delivery times for its deliveries. A sample of 22 meal deliveries
Oil wells are expensive to drill, and dry wells are a great concern to oil exploration companies. The domestic oil and natural gas producer Aegis Oil, LLC describes on its website how improvements in
Suppose that a local chapter of sales professionals in the greater San Francisco area conducted a survey of its membership to study the relationship, if any, between the years of experience and
Given are five observations for two variables, x and y.a. Develop a scatter diagram for these data.b. What does the scatter diagram developed in part (a) indicate about the relationship between the
When trying to decide what car to buy, real value is not necessarily determined by how much you spend on the initial purchase. Instead, cars that are reliable and don’t cost much to own often
Given are data for two variables, x and y.a. Develop an estimated regression equation for these data.b. Compute the residuals.c. Develop a plot of the residuals against the independent variable x. Do
Tablet PC Comparison provides a wide variety of information about tablet computers. Their website enables consumers to easily compare different tablets using factors such as cost, type of operating
Table 1.7 shows data for eight phones (Consumer Reports). The Overall Score, a measure of the overall quality for the phone, ranges from 0 to 100. Voice Quality has possible ratings of poor, fair,
Refer to the data set in Table 1.7.a. What is the average price for the phones?b. What is the average talk time for the phones?c. What percentage of the phones have a voice quality of excellent?
Skechers U.S.A., Inc., is a performance footwear company headquartered in Manhattan Beach, California. The sales revenue for Skechers over a four-year period are as follows:a. Are these
The following data show the number of rental cars in service for three rental car companies: Hertz, Avis, and Dollar, over a four-year period.a. Construct a time series graph for the years 1 to 4
The U.S. Census Bureau tracks sales per month for various products and services through its Monthly Retail Trade Survey. Figure 1.12 shows monthly jewelry sales in millions of dollars for 2016.a. Are
According to The Wall Street Journal, a startup company’s ability to gain funding is a key to success. The funds raised (in millions of dollars) by 50 startup companies follow.a. Construct a
The Powerball lottery is played twice each week in 44 states, the District of Columbia, and the Virgin Islands. To play Powerball, a participant must purchase a $2 ticket, select five numbers from
Scores turned in by an amateur golfer at the Bonita Fairways Golf Course in Bonita Springs, Florida, during 2018 and 2019 are as follows:a. Use the mean and standard deviation to evaluate the
Annual revenue for Corning Supplies grew by 5.5% in 2014; 1.1% in 2015; 23.5% in 2016; 21.1% in 2017; and 1.8% in 2018. What is the mean growth annual rate over this period?
Although millions of elephants once roamed across Africa, by the mid-1980s elephant populations in African nations had been devastated by poaching. Elephants are important to African ecosystems. In
Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retail store located in Saratoga Springs, New York. Two years ago the company developed a website and began
Pelican Stores, a division of National Clothing, is a chain of women’s apparel stores operating throughout the country. The chain recently ran a promotion in which discount coupons were sent to
Pelican Stores, a division of National Clothing, is a chain of women’s apparel stores operating throughout the country. The chain recently ran a promotion in which discount coupons were sent to
Construct a histogram for the data in exercise 12.Data from in Exercise 12Consider the following frequency distribution.Construct a cumulative frequency distribution and a cumulative relative
4K televisions (TVs) contain approximately four times as many pixels to display images as a 1080-display TV, and so they offer much higher picture resolution. Suppose that the following survey
The SAT is a standardized test used by many colleges and universities in admission decisions. More than 1.8 million high school students take the SAT each year. The 2019 version of the SAT is
The Sagittarius Casino’s strategy for establishing a competitive advantage over its competitors is to periodically create unique and interesting new games for its customers to play. Sagittarius
During the summer of 2019, Coldstream Country Club in Cincinnati, Ohio, collected data on 443 rounds of golf played from its white tees. The data for each golfer’s score on the twelfth hole are
Consider a binomial experiment with two trials and p = .4.a. Draw a tree diagram for this experiment.b. Compute the probability of one success, f (1).c. Compute f (0).d. Compute f (2).e. Compute the
Data made available through the Petersen-Kaiser Health System Tracker in May 2018 showed health expenditures were $10,348 per person in the United States. Use $10,348 as the population mean and
The Economic Policy Institute periodically issues reports on worker’s wages. The institute reported that mean wages for male college graduates were $37.39 per hour and for female college graduates
In 2018, the Pew Internet & American Life Project asked 743 teens aged 13 to 17 several questions about their attitudes toward social media. The results showed that 602 say social media makes
The U.S. Golf Association has instituted a ban on long and belly putters. This has caused a great deal of controversy among both amateur golfers and members of the Professional Golf Association
Airline passengers arrive randomly and independently at the passenger-screening facility at a major international airport. The mean arrival rate is 10 passengers per minute.a. Compute the probability
The Census Bureau includes nine states in what it defines as the Northeast region of the United States. Assume that the government is interested in tracking unemployment in these nine states and that
Consider a Poisson distribution with μ = 3.a. Write the appropriate Poisson probability function.b. Compute ∫ (2).c. Compute ∫ (1).d. Compute P(x ≥ 2).