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Data Analysis And Decision Making 4th Edition Christian Albright, Wayne Winston, Christopher Zappe - Solutions

The file S02_41.xlsx contains monthly returns on Barnes and Noble stock for several years. As the formulas in the file indicate, each return is the percentage change in the adjusted closing price from one month to the next. Do monthly stock returns appear to be skewed or symmetric? On average, do
The file S02_44.xlsx contains annual data on the percentage of Americans under the age of 18 living below the poverty level.a. In which years of the sample has the poverty rate for American children exceeded the rate that defines the third quartile of these data?b. In which years of the sample has
The file S02_45.xlsx contains the salaries of 135 business school professors at a (fictional) large state university.a. If you increased every professor’s salary by $1000, what would happen to the mean and median salary?b. If you increased every professor’s salary by $1000, what would happen to
The file S02_46.xlsx lists the fraction of U.S. men and women of various heights and weights. Use these data to estimate the mean and standard deviation of the height of American men and women. Do the same for weights.
Recall that the HyTex Company is a direct marketer of technical products and that the file Catalog Marketing.xlsx contains recent data on 1000 HyTex customers.a. Identify all customers in the data set who are 55 years of age or younger, female, single, and who have had at least some dealings with
Recall that the file Baseball Salaries 2009.xlsx contains data on 818 MLB players as of May 2009. Using this data set, answer the following questions:a. Find the mean and median of the salaries of all shortstops. Are any of these measures influenced significantly by one or more unusual
The file S02_50.xlsx contains the average price of gasoline in each of the 50 states. a. Compare the distributions of gasoline price data (one for each year) across states. Specifically, do you find the mean and standard deviation of these distributions to be changing over time? If so, how do you
The file S02_51.xlsx contains data on U.S. homeownership rates.a. Employ numerical summary measures to characterize the changes in homeownership rates across the country during this period.b. Do the trends appear to be uniform across the U.S. or are they unique to certain regions of the country?
Recall that the HyTex Company is a direct marketer of technical products and that the file Catalog Marketing.xlsx contains recent data on 1000 HyTex customers.a. Identify all customers who are either (1) homeowners between the ages of 31 and 55 who live reasonably close to a shopping area that
Recall that the file Supermarket Transactions.xlsx contains data on over 14,000 transactions. There are two numerical variables, Units Sold and Revenue. The first of these is discrete and the second is continuous. For each of the following, do whatever it takes to create a bar chart of counts for
The file S02_54.xlsx contains daily values of an EPA air quality index in Washington DC and Los Angeles from January 1980 through April 2009. For some unknown reason, the source provides slightly different dates for the two cities.a. Starting in column G, create three new columns: Date, Wash DC
The file S02_55.xlsx contains monthly sales (in millions of dollars) of beer, wine, and liquor. The data have not been seasonally adjusted, so there might be seasonal patterns that can be discovered. For any month in any year, define that month’s seasonal index as the ratio of its sales value to
The file S02_56.xlsx contains monthly values of indexes that measure the amount of energy necessary to heat or cool buildings due to outside temperatures. These are reported for each state in the U.S. and also for several regions, as listed in the Locations sheet, from 1931 to 2000. Create summary
A mean, as defined in this chapter, is a pretty simple concept—it is the average of a set of numbers. But even this simple concept can cause confusion if you aren’t careful. The data in Table are typical of data presented by marketing researchers for a type of product, in this case beer. Each
The file Home Price Index.xlsx contains an index of home prices and a seasonally adjusted (SA) version of this index for several large U.S. cities. It also contains a condo price index for several large cities and a national index. Use the tools in this chapter to make sense out of these data, and
The file S02_01.xlsx indicates the gender and nationality of the MBA incoming class in two successive years at the Kelley School of Business at Indiana University.a. For each year separately, recode Nationality so that all nationalities with a count of 1 or 2 are listed as Other.b. For each year,
The file S02_03.xlsx contains data from a survey of 399 people regarding a government environmental policy.a. Create a crosstabs and an associated column chart for Gender versus Opinion. Express the counts as percentages so that for either gender, the percentages add to 100%. Discuss your findings.
The file S02_02.xlsx contains data about 211 movies released in 2006 and 2007.a. Recode Distributor so that all distributors except for Paramount Pictures, Buena Vista, Fox Searchlight, Universal, Warner Bros., 20th Century Fox, and Sony Pictures are listed as Other. Similarly, recode Genre so that
Recall from Chapter 2 that the file Supermarket Transactions.xlsx contains over 14,000 transactions made by supermarket customers over a period of approximately two years. To understand which customers purchase which products, create a crosstabs of the following. For each, express the counts as
Recall from Chapter 2 that the HyTex Company is a direct marketer of technical products and that the file Catalog Marketing.xlsx contains recent data on 1000 HyTex customers. To understand these customers, first recode Salary and Amount Spent as indicated in part a, and then create each of the
In the smoking/drinking example in this section, we used the function COUNTIFS function (new to Excel 2007) to find the counts of the joint categories. Without using this function (or pivot tables), devise another way to get the counts. The raw data are in the file Smoking Drinking.xlsx.
Recall that the file Baseball Salaries 2009 Extra.xlsx contains data on 818 Major League Baseball (MLB) players during the 2009 season. Use StatTools to find the mean, median, standard deviation, and first and third quartiles of Salary, broken down by each of the following categories. Comment on
The file S02_07.xlsx includes data on 204 employees at the (fictional) company Beta Technologies. Use StatTools to find the mean, median, and standard deviation of Annual Salary, broken down by each of the following categories. Comment on your findings. a. Gender b. A recoded version of Education,
The file Golf Stats.xlsx contains data on the 200 top golfers each year from 2003 to 2009. Create a recoded Age variable, with values “Twenties,” “Thirties,” and “Forties,” based on their ages in the 2009 sheet. Then use StatTools to calculate the mean, median, and standard deviation of
The file S02_35.xlsx contains data from a survey of 500 randomly selected households.a. Create a new column Has Second Income with values “Yes” and “No” depending on whether the household has a reported second income. b. Use StatTools to find the mean, median, and standard deviation of
The file S02_32.xlsx contains blood pressures for 1000 people, along with variables that can be related to blood pressure. These other variables have a number of missing values, probably because some people didn’t want to report certain information. For each of the Alcohol, Exercise, and Smoke
The file S02_07.xlsx includes data on 204 employees at the (fictional) company Beta Technologies. a. Create a table of correlations between the variables Age, Prior Experience, Beta Experience, Education, and Annual Salary. Which of the first four of these variables is most highly correlated (in a
The file S03_22.xlsx lists financial data on movies released since 1980 with budgets at least $20 million.a. Reduce the size of this data set by deleting all movies with a budget of more than $100 million. Also, delete all movies where US Gross and/or Worldwide Gross is listed as Unknown.b. For the
The file S02_10.xlsx contains midterm and final exam scores for 96 students in a corporate finance course.a. Do the students’ scores for the two exams tend to go together, so that those who do poorly on the midterm tend to do poorly on the final, and those who do well on the midterm tend to do
Recall that the file Golf Stats.xlsx contains data on the 200 top golfers each year from 2003 to 2009. The question to be explored in this problem is what drives earnings, and whether this is consistent from year to year.a. For each year, create a new variable Earnings/Event. This is potentially a
The file S02_02.xlsx contains data about 211 movies released in 2006 and 2007. The question to be explored in this problem is whether the total gross for a movie can be predicted from how it does in its first week or two. a. Create a table of correlations between the five variables 7-day Gross,
The file S02_39.xlsx lists the average high school student scores on the SAT exam by state. There are three components of the SAT: critical reading, math, and writing. These components are listed, along with their sum. The percentage of all potential students who took the SAT is also listed by
The file S02_16.xlsx contains traffic data from 256 weekdays on four variables. Each variable lists the number of arrivals during a specific 5-minute period of the day.a. What would it mean, in the context of traffic, for the data in the four columns to be positively correlated? Based on your
The file S02_11.xlsx contains data on 148 houses that were recently sold in a (fictional) suburban community. The data set includes the selling price of each house, along with its appraised value, square footage, number of bedrooms, and number of bathrooms. a. Create a table of correlations between
The file S03_29.xlsx contains monthly prices of four precious metals: gold, silver, platinum, and palladium. The question to be explored here is whether changes in these commodities move together through time.a. Create time series graphs of the four series. Do the series appear to move together?b.
The file S03_30.xlsx contains monthly data on exchange rates of various currencies versus the U.S. dollar. It is of interest to financial analysts and economists to see whether exchange rates move together through time. You could find the correlations between the exchange rates themselves, but it
The file S02_35.xlsx contains data from a survey of 500 randomly selected (fictional) households. a. Create a table of correlations between the last five variables (First Income to Debt). On the sheet with these correlations, enter a “cutoff” correlation such as 0.5 in a blank cell. Then use
We have indicated that if you have two categorical variables and you want to check whether they are related, the best method is to create a crosstabs, possibly with the counts expressed as percentages. But suppose both categorical variables have only two categories and these variables are coded as
Solve problem 1 with pivot tables and create corresponding pivot charts. Express the counts as percentage of row. What do these percentages indicate about this particular data set? Then repeat, expressing the counts as percentages of column.
Solve problem 2 with pivot tables and create corresponding pivot charts. Express the counts as percentage of row. What do these percentages indicate about this particular data set? Then repeat, expressing the counts as percentages of column.
Solve problem 3 with pivot tables and create corresponding pivot charts. Express the counts as percentage of row. What do these percentages indicate about this particular data set? Then repeat, expressing the counts as percentages of column.
Solve problem 4 with pivot tables and create corresponding pivot charts. Express the counts as percentage of row. What do these percentages indicate about this particular data set? Then repeat, expressing the counts as percentages of column.
Solve problem 7 with pivot tables and create corresponding pivot charts. However, find only means and standard deviations, not medians or quartiles.
Solve problem 8 with pivot tables and create corresponding pivot charts. However, find only means and standard deviations, not medians.
Solve problem 9 with pivot tables and create corresponding pivot charts. However, find only means and standard deviations, not medians.
The file S03_40.xlsx contains monthly data on the number of border crossings from Mexico into four southwestern states.a. Restructure this data set on a new sheet so that there are three long columns: Month, State, and Crossings. Essentially, you should stack the original columns B through E on top
The Wall Street Journal CEO Compensation Study analyzed CEO pay from many U.S. companies with fiscal year 2008 revenue of at least $5 billion that filed their proxy statements between October 2008 and March 2009. The data are in the file S02_30.xlsx. a. Create a pivot table and a corresponding
One pivot table element we didn’t explain is a calculated item. This is usually a new category for some categorical variable that is created from existing categories. It is easiest to learn from an example. Open the file Elecmart Sales.xlsx from this section, create a pivot table, and put Day in
Building on the previous problem, another pivot table element we didn’t explain is a calculated field. This is usually a new numerical variable built from numerical variables that can be summarized in the Values area. It acts somewhat like a new column in the spreadsheet data, but there is an
The file S02_18.xlsx contains daily values of the S&P Index from 1970 to 2009. It also contains percentage changes in the index from each day to the next. Create a pivot table with average of % Change in the Values area and Date in the Row area. You will see every single date, with no real
Using the Elecmart Sales file from this section, experiment with slicers as follows.a. Create a pivot table that shows the average of TotalCost, broken down by Region in the row area and Time in the column area. Then insert two slicers, one for Region and one for Time. Select the West and NorthEast
We used the Lasagna Triers.xlsx file in this section to show how pivot tables can help explain which variables are related to the buying behavior of customers. Illustrate how the same information could be obtained with slicers. Specifically, set up the pivot table as in the example, but use a
Solve problem 5 with pivot tables and create corresponding pivot charts. If you first find the quartiles of Salary and AmountSpent (by any method), is it possible to create the desired crosstabs by grouping, without recoding these variables?
Solve problem 17 with pivot tables. However, find only means and standard deviations, not medians.
The file S03_22.xlsx lists financial data on movies released since 1980 with budgets at least $20 million.a. Create three new variables, Ratio1, Ratio2, and Decade. Ratio1 should be US Gross divided by Budget, Ratio2 should be Worldwide Gross divided by Budget, and Decade should list 1980s, 1990s,
The file S03_50.xlsx lists NBA salaries for five seasons. a. Merge all of the data into a single new sheet called All Data. In this new sheet, add a new column Season that lists the season, such as 2006–2007. b. Note that many of the players list a position such as C-F or F-C. Presumably, the
The files S02_29.xlsx contain monthly percentages of on-time arrivals at several of the largest U.S. airports.a. Explain why the current format of either data set limits the kind of information you can obtain with a pivot table. For example, does it allow you find the average on-time arrival
Unfortunately, StatTools doesn’t have a stacked option for its correlation procedure, which would allow you to get a separate table of correlations for each category of a categorical variable. The only alternative is to sort on the categorical variable, insert some blank rows between values of
The file S03_53.xlsx lists campaign contributions, by number of contributors and contribution amount, by state (including Washington DC) for the four leading contenders in the 2008 presidential race. Create a scatter plot and corresponding correlation between Dollar Amount (Y axis) and Contributors
The file S03_54.xlsx lists data for 539 movies released in 2009. Obviously, some movies are simply more popular than others, but success in 2009, measured by 2009 gross or 2009 tickets sold, could also be influenced by the release date. To check this, create a new variable, Days Out, which is the
The file S03_55.xlsx lists the average salary for each MLB team from 2004 to 2009, along with the number of team wins in each of these years. a. Create a table of correlations between the Wins columns. What do these correlations indicate? Are they higher or lower than you expected?b. Create a table
The file S03_56.xlsx lists the average salary for each NBA team from 2004 to 2009, along with the number of team wins each of these years. Answer the same questions as in the previous problem for this basketball data.
The file S03_57.xlsx lists the average salary for each NFL team from 2004 to 2009, along with the number of team wins each of these years. Answer the same questions as in the problem 55 for this football data.
The file S03_58.xlsx lists salaries of MLB players in the years 2007 to 2009. Each row corresponds to a particular player. As indicated by blank salaries, some players played in one of these years, some played in two of these years, and the rest played in all three years. a. Create a new Yes/No
The file S03_59.xlsx lists the results of about 20,000 runners in the 2008 New York Marathon. a. For all runners who finished in 3.5 hours or less, create a pivot table and corresponding pivot chart of average of Time by Gender. For the same runners, and on the same sheet, create another pivot
The file S02_12.xlsx includes data on the 50 top graduate programs in the U.S., according to a recent U.S. News & World Report survey.a. Create a table of correlations between all of the numerical variables. Discuss which variables are highly correlated with which others. b. The Overall score is
Recall from an example in the previous chapter that the file Supermarket Transactions.xlsx contains over 14,000 transactions made by supermarket customers over a period of approximately two years. Set up a single pivot table and corresponding pivot chart, with some instructions to a user (like the
The file S03_15.xlsx contains monthly data on the various components of the Consumer Price Index.a. Create differences for each of the variables. You can do this quickly with StatTools, using theDifference item in the Data Utilities dropdown list or you can create the differences with Excel
The file S03_63.xlsx contains financial data on 85 U.S. companies in the Computer and Electronic Product Manufacturing sector (NAICS code 334) with 2009 earnings before taxes of at least $10,000. Each of these companies listed R&D (research and development) expenses on its income statement. Create
The file S03_64.xlsx lists monthly data since 1950 on the well-known Dow Jones Industrial Average (DJIA), as well as the less well-known Dow Jones Transportation Average (DJTA) and Dow Jones Utilities Average (DJUA). Each of these is an index based on 20 to 30 leading companies (which change over
The file S03_65.xlsx lists a lot of data for each NBA team for the seasons 2004–2005 to 2008–2009. The variables are divided into groups: (1) Overall success, (2) Offensive, and (3) Defensive. The basic question all basketball fans (and coaches) ponder is what causes success or failure. a.
The file S03_66.xlsx lists a lot of data for each NFL team for the years 2004 to 2009. The variables are divided into groups: (1) Overall success, (2) Team Offense, (3) Passing Offense, (4) Rushing Offense, (5) Turnovers Against, (6) Punt Returns, (7) Kick Returns, (8) Field Goals, (9) Punts, (10)
Bank 98 operates a main location and three branch locations in a medium-size city. All four locations perform similar services, and customers typically do business at the location nearest them. The bank has recently had more congestion—long waiting lines—than it (or its customers) would like.
The best-selling book The Millionaire Next Door by Thomas J. Stanley and William D. Danko (Longstreet Press, 1996) presents some very interesting data on the characteristics of millionaires. We tend to believe that people with expensive houses, expensive cars, expensive clothes, country club
The term “churn” is very important to managers in the cellular phone business. Churning occurs when a customer stops using one company’s service and switches to another company’s service. Obviously, managers try to keep churning to a minimum, not only by offering the best possible service,
In a particular suburb, 30% of the households have installed electronic security systems.a. If a household is chosen at random from this suburb, what is the probability that this household has not installed an electronic security system? b. If two households are chosen at random from this suburb,
Several major automobile producers are competing to have the largest market share for sport utility vehicles (SUVs) in the coming quarter. A professional automobile market analyst assesses that the odds of General Motors not being the market leader are 6 to 1. The odds against Toyota and Ford
The publisher of a popular financial periodical has decided to undertake a campaign in an effort to attract new subscribers. Market research analysts in this company believe that there is a 1 in 4 chance that the increase in the number of new subscriptions resulting from this campaign will be less
Suppose that 18% of the employees of a given corporation engage in physical exercise activities during the lunch hour. Moreover, assume that 57% of all employees are male, and 12% of all employees are males who engage in physical exercise activities during the lunch hour.a. If you choose an
In a study designed to gauge married women’s participation in the workplace today, the data provided in the file S04_05.xlsx were obtained from a sample of 750 randomly selected married women. Consider a woman selected at random from this sample in answering the following questions. a. What is
Suppose that you draw a single card from a standard deck of 52 playing cards.a. What is the probability that a diamond or club is drawn?b. What is the probability that the drawn card is not a 4? c. Given that a black card has been drawn, what is the probability that it is a spade?d. Let E1 be the
In a large accounting firm, the proportion of accountants with MBA degrees and at least five years of professional experience is 75% as large as the proportion of accountants with no MBA degree and less than five years of professional experience. Furthermore, 35% of the accountants in this firm
A local beer producer sells two types of beer, a regular brand and a light brand with 30% fewer calories. The company’s marketing department wants to verify that its traditional approach of appealing to local white-collar workers with light beer commercials and appealing to local blue-collar
Suppose that two dice are tossed. For each die, it is equally likely that 1, 2, 3, 4, 5, or 6 dots will turn up. Let S be the sum of the two dice.a. What is the probability that S will be 5 or 7?b. What is the probability that S will be some number other than 4 or 8?c. Let E1 be the event that the
A fair coin (i.e., heads and tails are equally likely) is tossed three times. Let X be the number of heads observed in three tosses of this fair coin. a. Find the probability distribution of X.b. Find the probability that two or fewer heads are observed in three tosses.c. Find the probability that
Consider a random variable with the following probability distribution: P(X = 0) = 0.1,P(X = 1) = 0.2, P(X = 2) = 0.3, P(X = 3) = 0.3, and P(X = 4) = 0.1.a. Find P(X ≤ 2)b. Find P(1 < X ≤ 3)c. Find P(X > 0)d. Find P(X > 3 | X > 2)e. Find the expected value of X.f. Find the standard deviation of
A study has shown that the probability distribution of X, the number of customers in line (including the one being served, if any) at a checkout counter in a department store, is given by P(X = 0) = 0.25, P(X = 1) = 0.25, P(X = 2) = 0.20, P(X = 3) = 0.20, and P( ≥4 ) = 0.10. Consider a newly
A construction company has to complete a project no later than three months from now or there will be significant cost overruns. The manager of the construction company believes that there are four possible values for the random variable X, the number of months from now it will take to complete
Three areas of southern California are prime candidates for forest fires each dry season. You believe (based on historical evidence) that each of these areas, independently of the others, has a 30% chance of having a major forest fire in the next dry season.a. Find the probability distribution of
The National Football League playoffs are just about to begin. Because of their great record in the regular season, the Colts get a bye in the first week of the playoffs. In the second week, they will play the winner of the game between the Ravens and the Patriots. A football expert estimates that
Because of tough economic times, the Indiana legislature is debating a bill that could have significant negative implications for public school funding. There are three possibilities for this bill: (1) it could be passed in essentially its current version; (2) it could be passed but with amendments
The “house edge” in any game of chance is defined as E(player’s loss on a bet) / Size of player’s loss on a bet For example, if a player wins $10 with probability 0.48 and loses $10 with probability 0.52 on any bet, the house edge is -[10(0.48) - 10(0.52)] / 10 = 0.04Give an interpretation
A quality inspector picks a sample of 15 items at random from a manufacturing process known to produce 10% defective items. Let X be the number of defective items found in the random sample of 15 items. Assume that the condition of each item is independent of that of each of the other items in the
A personnel manager of a large manufacturing plant is investigating the number of reported on-the-job accidents at the facility over the past several years. Let X be the number of such accidents reported during a one-month period. Based on past records, the manager has established the probability
Let X be the number of heads when a fair coin is flipped four times.a. Find the distribution of X and then use simulation to generate 1000 values of X.b. Is the simulated distribution indicative of the given probability distribution? Explain why or why not. c. Calculate the mean and standard
The probability distribution of X, the number of customers in line (including the one being served, if any) at a checkout counter in a department store, is given by P(X = 0) = 0.25, P(X = 1) = 0.25, P(X = 2) = 0.20, P(X = 3) = 0.20, and P(X = 4) = 0.10.a. Use simulation to generate 500 values of
Betting on a football point spread works as follows. Suppose Michigan is favored by 17.5 points over Indiana. If you bet a “unit” on Indiana and Indiana loses by 17 or less, you win $10. If Indiana loses by 18 or more points, you lose $11. Find the mean and standard deviation of your winnings
The quarterly sales levels (in millions of dollars) of two U.S. retail giants are dependent on the general state of the national economy in the coming months. The file S04_23.xlsx provides the probability distribution for the projected sales volume of each of these two retailers in the next
The possible annual percentage returns of the stocks of Alpha, Inc. and Beta, Inc. are distributed as shown in the file S04_24.xlsx.a. What is the expected annual return of Alpha’s stock?What is the expected annual return of Beta’s stock?b. What is the standard deviation of the annual return of
The annual bonuses awarded to members of the management team and assembly-line workers of an automobile manufacturer depend largely on the corporation’s sales performance during the preceding year. The file S04_25.xlsx contains the probability distribution of possible bonuses (measured in

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