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Complete Business Statistics 7th Edition Amir Aczel, Jayavel Sounderpandian - Solutions
Find the median, the inter-quartile range, and the 45th percentile of the following data.23, 26, 29, 30, 32, 34, 37, 45, 57, 80, 102, 147, 210, 355, 782, 1,209
Discuss the differences among the three measures of centrality.
Find the mean, median, and mode(s) of the observations in problem 1–13.In problem128, 121, 134, 136, 136, 118, 123, 109, 120, 116, 125, 128, 121, 129, 130, 131, 127, 119, 114, 134, 110, 136, 134, 125, 128, 123, 128, 133, 132, 136, 134, 129, 132
Discuss the various data collection methods described in this section.
Find the mean, median, and mode(s) of the observations. 12.5, 13, 14.8, 11, 16.7, 9, 8.3, -1.2, 3.9, 15.5, 16.2, 18, 11.6, 10, 9.5
Find the mean, median, and mode(s) of the observations.0.7, 0.8, 0.1, -0.7, -0.7, 1.6, 0.2, -0.5, -0.4, -1.3
Find the mean, median, and mode(s) of the observations.2, 3, 2, 4, 3, 5, 1, 1, 6, 4, 7, 2, 5, 1, 6
Find the mean, median, and mode(s) of the observations.23, 26, 29, 30, 32, 34, 37, 45, 57, 80, 102, 147, 210, 355, 782, 1,209
Find the mean, mode, and median for the data set7, 8, 8, 12, 12, 12, 14, 15, 20, 47, 52, 54
For the following stock price one-year percentage changes, plot the data and identify any outliers. Find the mean and median. Intel .......... -6.9% AT&T ........ 46.5 General Electric ..... 12.1 ExxonMobil ....... 20.7 Microsoft ...... 16.9 Pfizer ........ 17.2 Citigroup .......
The following data are the median returns on investment, in percent, for 10 industries.Consumer staples ........ 24.3%Energy ............23.3Health care .........22.1Financials ..........21.0Industrials ..........19.2Consumer discretionary .....19.0Materials ...........18.1Information technology
Discuss and compare the various scales of measurement.
Find the range, the variance, and the standard deviation of the data set.128, 121, 134, 136, 136, 118, 123, 109, 120, 116, 125, 128, 121, 129, 130, 131, 127, 119, 114, 134, 110, 136, 134, 125, 128, 123, 128, 133, 132, 136, 134, 129, 132
Find the range, the variance, and the standard deviation of the data set. 12.5, 13, 14.8, 11, 16.7, 9, 8.3, -1.2, 3.9, 15.5, 16.2, 18, 11.6, 10, 9.5
Find the range, the variance, and the standard deviation of the data set.0.7, 0.8, 0.1, -0.7, -0.7, 1.6, 0.2, -0.5, -0.4, -1.3
Find the range, the variance, and the standard deviation of the data set.2, 3, 2, 4, 3, 5, 1, 1, 6, 4, 7, 2, 5, 1, 6
Find the range, the variance, and the standard deviation of the data set.23, 26, 29, 30, 32, 34, 37, 45, 57, 80, 102, 147, 210, 355, 782, 1,209
Check the applicability of Chebyshev's theorem and the empirical rule for the data set in problem 1-13. In problem 128, 121, 134, 136, 136, 118, 123, 109, 120, 116, 125, 128, 121, 129, 130, 131, 127, 119, 114, 134, 110, 136, 134, 125, 128, 123, 128, 133, 132, 136, 134, 129, 132
Check the applicability of Chebyshev's theorem and the empirical rule for the data set in problem 1-14. In problem 12.5, 13, 14.8, 11, 16.7, 9, 8.3, -1.2, 3.9, 15.5, 16.2, 18, 11.6, 10, 9.5
Check the applicability of Chebyshev's theorem and the empirical rule for the data set in problem 1–15. In problem 0.7, 0.8, 0.1, -0.7, -0.7, 1.6, 0.2, -0.5, -0.4, -1.3
Check the applicability of Chebyshev's theorem and the empirical rule for the data set in problem 1–16. In problem 2, 3, 2, 4, 3, 5, 1, 1, 6, 4, 7, 2, 5, 1, 6
Describe each of the following variables as qualitative or quantitative.Name Wealth Age IndustryCountry of Citizenship
Check the applicability of Chebyshev's theorem and the empirical rule for the data set in problem 1–17. In problem 23, 26, 29, 30, 32, 34, 37, 45, 57, 80, 102, 147, 210, 355, 782, 1,209
The following data are estimated worldwide appliance sales (in millions of dollars). Use the data to construct a pie chart for the worldwide appliance sales of the listed manufacturers. Electrolux ....... $5,100 General Electric ...... 4,350 Matsushita Electric ... 4,180 Whirlpool .......
Draw a bar graph for the data on the first five stocks in problem 1-14. Is any one of the three kinds of plot more appropriate than the others for these data? If so, why? In problem 12.5, 13, 14.8, 11, 16.7, 9, 8.3, -1.2, 3.9, 15.5, 16.2, 18, 11.6, 10, 9.5
Draw a bar graph for the endowments (stated in billions of dollars) of each of the universities specified in the following list. Harvard .... $3.4 Texas ...... 2.5 Princeton .... 1.9 Yale ....... 1.7 Stanford .... 1.4 Columbia ..... 1.3 Texas A&M .... 1.1
The following are the top 10 private equity deals of all time, in billions of dollars.38.9, 32.7, 31.1, 27.4, 25.7, 21.6, 17.6, 17.4, 15.0, 13.9Find the mean, median, and standard deviation. Draw a bar graph.
The following data are credit default swap values:6, 10, 12, 13, 18, 21 (in trillions of dollars)Draw a pie chart of these amounts. Find the mean and median.
The following are the amounts from the sales slips of a department store (in dollars): 3.45, 4.52, 5.41, 6.00, 5.97, 7.18, 1.12, 5.39, 7.03, 10.25, 11.45, 13.21, 12.00, 14.05, 2.99, 3.28, 17.10, 19.28, 21.09, 12.11, 5.88, 4.65, 3.99, 10.10, 23.00, 15.16, 20.16. Draw a frequency polygon for these
The following data are monthly steel production figures, in millions of tons. 7.0, 6.9, 8.2, 7.8, 7.7, 7.3, 6.8, 6.7, 8.2, 8.4, 7.0, 6.7, 7.5, 7.2, 7.9, 7.6, 6.7, 6.6, 6.3, 5.6, 7.8, 5.5, 6.2, 5.8, 5.8, 6.1, 6.0, 7.3, 7.3, 7.5, 7.2, 7.2, 7.4, 7.6 Draw a stem-and-leaf display of these data.
Draw a box plot for the data in problem 1-47. Are there any outliers? Is the distribution of the data symmetric or skewed? If it is skewed, to what side? In problem 7.0, 6.9, 8.2, 7.8, 7.7, 7.3, 6.8, 6.7, 8.2, 8.4, 7.0, 6.7, 7.5, 7.2, 7.9, 7.6, 6.7, 6.6, 6.3, 5.6, 7.8, 5.5, 6.2, 5.8, 5.8, 6.1,
Worker participation in management is a new concept that involves employees in corporate decision making. The following data are the percentages of employees involved in worker participation programs in a sample of firms. Draw a stem-and-leaf display of the data. 5, 32, 33, 35, 42, 43, 42, 45, 46,
Draw a box plot of the data, and draw conclusions about the data set based on the box plot. 5, 32, 33, 35, 42, 43, 42, 45, 46, 44, 47, 48, 48, 48, 49, 49, 50, 37, 38, 34, 51, 52, 52, 47, 53, 55, 56, 57, 58, 63, 78
Consider the two box plots in Figure, and draw conclusions about the data sets.
Refer to the following data on distances between seats in business class for various airlines. Find µ, σ, σ2, draw a box plot, and find the mode and any outliers. Characteristics of Business-Class Carriers Distance between Rows (in cm) Europe Air France ......... 122 Alitalia
The following data are the daily price quotations for a certain stock over a period of 45 days. Construct a stem-and-leaf display for these data. What can you conclude about the distribution of daily stock prices over the period under study? 10, 11, 10, 11, 11, 12, 12, 13, 14, 16, 15, 11, 18, 19,
Define the inner fences and the outer fences of a box plot; also define the whiskers and the hinges. What portion of the data is represented by the box? By the whiskers?
The following data are the number of ounces of silver per ton of ore for two mines. Mine A: 34, 32, 35, 37, 41, 42, 43, 45, 46, 45, 48, 49, 51, 52, 53, 60, 73, 76, 85 Mine B: 23, 24, 28, 29, 32, 34, 35, 37, 38, 40, 43, 44, 47, 48, 49, 50, 51, 52, 59 Construct a stem-and-leaf display for each data
The following data are daily percentage changes in stock prices for 20 stocks called "The Favorites."-0.1, 0.5, 0.6, 0.7, 1.4, 0.7, 1.3, 0.3, 1.6, 0.6, -3.5, 0.6, 1.1, 1.3, -0.1, 2.5, -0.3, 0.3, 0.2, 0.4Draw a box plot of these data.
What is the difference between a qualitative and a quantitative variable?
Consult the following data on a sports car 0 to 60 times, in seconds.4.9, 4.6, 4.2, 5.1, 5.2, 5.1, 4.8, 4.7, 4.9, 5.3Find the mean and the median. Compare the two. Also construct a box plot. Interpret your findings.
Fortune published a list of the 10 largest "green companies"-those that follow environmental policies. Their annual revenues, in $ billions, are given below.CompanyRevenue $ BillionHonda ...........$84.2Continental Airlines ..... 13.1Suncor .......... 13.6Tesco .......... 71.0Alcan ...........
The following data are the number of tons shipped weekly across the Pacific by a shipping company.398, 412, 560, 476, 544, 690, 587, 600, 613, 457, 504, 477, 530, 641, 359, 566, 452, 633, 474, 499, 580, 606, 344, 455, 505, 396, 347, 441, 390, 632, 400, 582Assume these data represent an entire
Group the data into classes, and draw a histogram of the frequency distribution.398, 412, 560, 476, 544, 690, 587, 600, 613, 457, 504, 477, 530, 641, 359, 566, 452, 633, 474, 499, 580, 606, 344, 455, 505, 396, 347, 441, 390, 632, 400, 582
Find the 90th percentile, the quartiles, and the range of the data. 398, 412, 560, 476, 544, 690, 587, 600, 613, 457, 504, 477, 530, 641, 359, 566, 452, 633, 474, 499, 580, 606, 344, 455, 505, 396, 347, 441, 390, 632, 400, 582
The following data are numbers of color television sets manufactured per day at a given plant: 15, 16, 18, 19, 14, 12, 22, 23, 25, 20, 32, 17, 34, 25, 40, 41 Draw a frequency polygon and an ogive for these data.
Construct a stem-and-leaf display for the data in problem 1-66. In problem 15, 16, 18, 19, 14, 12, 22, 23, 25, 20, 32, 17, 34, 25, 40, 41
Construct a box plot for the data in problem 1–66. What can you say about the data? In problem 15, 16, 18, 19, 14, 12, 22, 23, 25, 20, 32, 17, 34, 25, 40, 41
The following data are the number of cars passing a point on a highway per minute: 10, 12, 11, 19, 22, 21, 23, 22, 24, 25, 23, 21, 28, 26, 27, 27, 29, 26, 22, 28, 30, 32, 25, 37, 34, 35, 62 Construct a stem-and-leaf display of these data. What does the display tell you about the data?
For the data problem 1-69, construct a box plot. What does the box plot tell you about these data? 10, 12, 11, 19, 22, 21, 23, 22, 24, 25, 23, 21, 28, 26, 27, 27, 29, 26, 22, 28, 30, 32, 25, 37, 34, 35, 62
An article by Julia Moskin in the New York Times reports on the use of cheap wine in cooking. Assume that the following results are taste-test ratings, from 1 to 10, for food cooked in cheap wine.7, 7, 5, 6, 9, 10, 10, 10, 10, 7, 3, 8, 10, 10, 9Find the mean, median, and modes of these data. Based
The following are a sample of Motorola's stock prices in March 2007.20, 20.5, 19.8, 19.9, 20.1, 20.2, 20.7, 20.6, 20.8, 20.2, 20.6, 20.2Find the mean and the variance, plot the data, determine outliers, and construct a box plot.
Consult the corporate data shown below. Plot data; find µ, σ, σ2; and identify outliers. Morgan Stanley ....... 91.36% Merrill Lynch ........ 40.26 Travelers .......... 39.42 Warner-Lambert ....... 35.00 Microsoft .......... 32.95 J.P. Morgan & Co. ...... 29.62 Lehman Brothers
The following are quoted interest rates (%) on Italian bonds. 2.95, 4.25, 3.55, 1.90, 2.05, 1.78, 2.90, 1.85, 3.45, 1.75, 3.50, 1.69, 2.85, 4.10, 3.80, 3.85, 2.85, 8.70, 1.80, 2.87, 3.95, 3.50, 2.90, 3.45, 3.40, 3.55, 4.25, 1.85, 2.95 Plot the data; find µ, σ, and σ2; and identify outliers (one
Refer to the box plot below to answer the questions.1. What is the inter-quartile range for this data set? 2. What can you say about the skewness of this data set? 3. For this data set, the value of 9.5 is more likely to be (choose one) a. The first quartile rather than the median. b. The median
The following table shows changes in bad loans and in provisions for bad loans, from 2005 to 2006, for 19 lending institutions. Verify the reported averages, and find the medians. Which measure is more meaningful, in your opinion? Also find the standard deviation and identify outliers for change in
Repeat problem 1€“76 for the bank assets data, shown in parentheses in the table at the bottom of the previous page.
A country€™s percentage approval of its citizens in European Union membership is given below.Find the mean, median, and standard deviation for the percentage approval. Compare the mean and median to the entire EU approval percentage, 53%.
The following display is adapted from an article in Fortune.Interpret the chart, and find the mean and standard deviation of the data, viewed as a population.
The future Euroyen is the price of the Japanese yen as traded in the European futures market. The following are 30-day Euroyen prices on an index from 0 to 100%: 99.24, 99.37, 98.33, 98.91, 98.51, 99.38, 99.71, 99.21, 98.63, 99.10. Find µ, σ, σ2, and the median.
The daily expenditure on food by a traveler, in dollars in summer 2006, was as follows: 17.5, 17.6, 18.3, 17.9, 17.4, 16.9, 17.1, 17.1, 18.0, 17.2, 18.3, 17.8, 17.1, 18.3, 17.5, 17.4. Find the mean, standard deviation, and variance.
For the following data on financial institutions' net income, find the mean and the standard deviation.Goldman Sachs ...... $9.5 billionLehman Brothers ..... 4.0 billionMoody's ..........$753 millionT. Rowe Price .......$530 millionPNC Financial ....... $2.6 billion
The following are the percentage profitability data (%) for the top 12 American corporations.39, 33, 63, 41, 46, 32, 27, 13, 55, 35, 32, 30Find the mean, median, and standard deviation of the percentages.
Find the daily stock price of Wal-Mart for the last three months. (A good source for the data is moneycentral.msn.com. You can ask for the three-month chart and export the data to a spreadsheet.)a. Calculate the mean and the standard deviation of the stock prices.b. Get the corresponding data for
To calculate variance and standard deviation, we take the deviations from the mean. At times, we need to consider the deviations from a target value rather than the mean. Consider the case of a machine that bottles cola into 2-liter (2,000 cm3) bottles. The target is thus 2,000 cm3. The machine,
The Consumer Price Index (CPI) is an important indicator of the general level of prices of essential commodities. It is widely used in making cost of living adjustments to salaries, for example. 1. Log on to the Consumer Price Index (CPI) home page of the Bureau of Labor Statistics Web site
Log on to the Center for Disease Control Web site and go to the HIV statistics page (www.cdc.gov/hiv/stats.htm). 1. Download the data on the cumulative number of AIDS cases reported in the United States and its age-range breakdown. Draw a pie chart of the data. 2. Download the race/ethnicity
Search the Web for major league baseball (MLB) players' salaries. ESPN and USA Today are good sources.- Get the Chicago Cubs players' salaries for the current year. Draw a box plot of the data. Are there any outliers?- Get the Chicago White Sox players' salaries for the current year. Make a
The following data are bank yields (in percent) for 6-month CDs.3.56, 5.44, 5.37, 5.28, 5.19, 5.35, 5.48, 5.27, 5.39Find the mean and standard deviation.
1. Download the monthly data of the index for the calendar year 2007 and make a time plot of the data. Comment on the volatility of the index, looking at the plot. Report the standard deviation of the data.2. Download the monthly data of the index for the calendar year 2006 and compare the data for
Suppose that one of two people is to be randomly chosen, with equal probability, to attend an important meeting. One of them claims that using a coin to make the choice is not fair because the probability that it will land on a head or a tail is not exactly 0.50. How can the coin still be used for
At the same time as new hires were taking place, many retailers were cutting back. Out of 1,000 Kwik Save stores in Britain, 107 were to be closed. Out of 424 Somerfield stores, 424 were to be closed. Given that a store is closing, what is the probability that it is a Kwik Save? What is the
Hong Kong's Mai Po marsh is an important migratory stopover for more than 100,000 birds per year from Siberia to Australia. Many of the bird species that stop in the marsh are endangered, and there are no other suitable wetlands to replace Mai Po. Currently the Chinese government is considering
Three machines A, B, and C are used to produce the same part, and their outputs are collected in a single bin. Machine A produced 26% of the parts in the bin, machine B 38%, and machine C the rest. Of the parts produced by machine A, 8% are defective. Similarly, 5% of the parts from B and 4% from C
In problem 2-12, assume that 3 million out of 18 million users could not use their devices as cell phones, and that 1 million could not use their devices as a cell phone and for data device. What is the probability that a randomly chosen device could not be used either for data or for voice
A machine produces components for use in cellular phones. At any given time, the machine may be in one, and only one, of three states: operational, out of control, or down. From experience with this machine, a quality control engineer knows that the probability that the machine is out of control at
What is an event? What is the union of two events? What is the intersection of two events?
Following are age and sex data for 20 midlevel managers at a service company: 34 F, 49 M, 27 M, 63 F, 33 F, 29 F, 45 M, 46 M, 30 F, 39 M, 42 M, 30 F, 48 M, 35 F, 32 F, 37 F, 48 F, 50 M, 48 F, 61 F. A manager must be chosen at random to serve on a companywide committee that deals with personnel
If a large competitor will buy a small firm, the firm's stock will rise with probability 0.85. The purchase of the company has a 0.40 probability. What is the probability that the purchase will take place and the firm's stock will rise?
A financial analyst believes that if interest rates decrease in a given period, then the probability that the stock market will go up is 0.80. The analyst further believes that interest rates have a 0.40 chance of decreasing during the period in question. Given the above information, what is the
A bank loan officer knows that 12% of the bank's mortgage holders lose their jobs and default on the loan in the course of 5 years. She also knows that 20% of the bank's mortgage holders lose their jobs during this period. Given that one of her mortgage holders just lost his job, what is the
An express delivery service promises overnight delivery of all packages checked in before 5 P.M. The delivery service is not perfect, however, and sometimes delays do occur. Management knows that if delays occur in the evening flight to a major city from which distribution is made, then a package
The following table gives numbers of claims at a large insurance company by kind and by geographic region.Compute column totals and row totals. What do they mean? a. If a bill is chosen at random, what is the probability that it is from the Midwest? b. What is the probability that a randomly chosen
One of the greatest problems in marketing research and other survey fields is the problem of non-response to surveys. In home interviews the problem arises when the respondent is not home at the time of the visitor, sometimes, simply refuses to answer questions. A market researcher believes that a
An investment analyst collects data on stocks and notes whether or not dividends were paid and whether or not the stocks increased in price over a given period.Data are presented in the following table.a. If a stock is selected at random out of the analyst's list of 246 stocks, what is the
The following table lists the number of firms where the top executive officer made over $1 million per year. The table also lists firms according to whether shareholder return was positive during the period in question.a. If a firm is randomly chosen from the list of 10 firms studied, what is the
According to USA Today, 65% of Americans are overweight or obese. If five Americans are chosen at random, what is the probability that at least one of them is overweight or obese?
The chancellor of a state university is applying for a new position. At a certain point in his application process, he is being considered by seven universities. At three of the seven he is a finalist, which means that (at each of the three universities) he is in the final group of three
A package of documents needs to be sent to a given destination, and delivery within one day is important. To maximize the chances of on-time delivery, three copies of the documents are sent via three different delivery services. Service A is known to have a 90% on-time delivery record, service B
The projected probability of increase in online holiday sales from 2004 to 2005 is 95% in the United States, 90% in Australia, and 85% in Japan. Assume these probabilities are independent. What is the probability that holiday sales will increase in all three countries from 2004 to 2005?
Define the probability of an event.
An electronic device is made up of two components A and B such that the device would work satisfactorily as long as at least one of the components works. The probability of failure of component A is 0.02 and that of B is 0.1 in some fixed period of time. If the components work independently, find
A recent survey conducted by Towers Perrin and published in the Financial Times showed that among 460 organizations in 13 European countries, 93% have bonus plans, 55% have cafeteria-style benefits, and 70% employ home-based workers. If the types of benefits are independent, what is the probability
Credit derivatives are a new kind of investment instrument: they protect investors from risk. If such an investment offered by ABN Amro has a 90% chance of making money, another by AXA has a 75% chance of success, and one by the ING Group has a 60% chance of being profitable, and the three are
In problem 2-42, suppose that American investment institutions enter this new market, and that their probabilities for successful instruments are: Goldman Sachs ...... 70% Salomon Brothers ..... 82% Fidelity ......... 80% Smith Barney ....... 90% What is the probability that at least one of these
In problem 2-31, are the events "hospitalization" and "the claim being from the Midwest" independent of each other?
In problem 2-33, are "dividends paid" and "price increase" independent events?
In problem 2-34, are the events "top executive made more than $1 million" and "shareholders lost money" independent of each other? If this is true for all firms, how would you interpret your finding?
The accompanying table shows the incidence of malaria and two other similar illnesses. If a person lives in an area affected by all three diseases, what is the probability that he or she will develop at least one of the three illnesses? (Assume that contracting one disease is an event independent
A device has three components and works as long as at least one of the components is functional. The reliabilities of the components are 0.96, 0.91, and 0.80. What is the probability that the device will work when needed?
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