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Complete Business Statistics 7th Edition Amir Aczel, Jayavel Sounderpandian - Solutions

Corporate women are still struggling to break into senior management ranks, according to a study of senior corporate executives by Korn/Ferry International, New York recruiter. Of 1,362 top executives surveyed by the firm, only 2%, or 29, were women. Assuming that the sample reported is a random
According to The Economist, the current office vacancy rate in San Jose, California, is 21%.An economist knows that this British publication likes to disparage America and suspects that The Economist is overestimating the office vacancy rate in San Jose. Suppose that this economist looks at a
At Armco's steel plant in Middletown, Ohio, statistical quality-control methods have been used very successfully in controlling slab width on continuous casting units. The company claims that a large reduction in the steel slab width variance resulted from the use of these methods. Suppose that the
According to the mortgage banking firm Lomas & Nettleton, 95% of all households in the second half of last year lived in rental accommodations. The company believes that lower interest rates for mortgages during the following period reduced the percentage of households living in rental units.
A recent study was aimed at determining whether people with increased workers' compensation stayed off the job longer than people without the increased benefits. Suppose that the average time off per employee per year is known to be 3.1 days. A random sample of 21 employees with increased benefits
Environmental changes have recently been shown to improve firms' competitive advantages. The approach is called the multiple-scenario approach. A study was designed to find the percentage of the Fortune top 1,000 firms that use the multiplescenario approach. The null hypothesis was that 30% or
According to an article in the New York Times, new Internet dating Web sites use sex to advertise their services. One such site, True.com, reportedly received an average of 3.8 million visitors per month. Suppose that you want to disprove this claim, believing the actual average is lower, and your
Executives at Gammon & Ninowski Media Investments, a top television station brokerage, believe that the current average price for an independent television station in the United States is $125 million. An analyst at the firm wants to check whether the executives' claim is true. The analyst has
Microsoft Corporation makes software packages for use in microcomputers. The company believes that if at least 25% of present owners of microcomputers of certain types would be interested in a particular new software package, then the company will make a profit if it markets the new package. A
A recent National Science Foundation (NSF) survey indicates that more than 20% of the staff in U.S. research and development laboratories are foreign-born. Results of the study have been used for pushing legislation aimed at limiting the number of foreign workers in the United States. An
The average number of weeks that banner ads run at a Web site is estimated to be 5.5. You want to check the accuracy of this estimate. A sample of 50 ads reveals a sample average of 5.1 weeks with a sample standard deviation of 2.3 weeks. State the null and alternative hypotheses and carry out the
According to The New York Times, 3-D printers are now becoming a reality. If a manufacturer of the new high-tech printers claims that the new device can print a page in 3 seconds on average, and a random sample of 20 pages shows a sample mean of 4.6 seconds and sample standard deviation of 2.1
Out of all the air-travel bookings in major airlines, at least 58% are said to be done online. A sample of 70 airlines revealed that 52% of bookings for last year were done online. State the null and alternative hypotheses and carry out the test at the 5% level of significance.
According to The Economist, investors in Porsche are the dominant group within the larger VW Company that now owns the sports car maker. Let's take dominance to mean 50% ownership, and suppose that a random sample of 700 VW shareholders reveals that 220 of them own Porsche shares. Conduct the
Suppose that a claim is made that the average billionaire is 60 years old or younger. The following is a random sample of billionaires' ages, drawn from the Forbes list.80, 70, 76, 54, 59, 52, 74, 64, 76, 67, 39, 67, 43, 62, 57, 91, 55Conduct the test using the 0.05 level of significance.
An article in BusinessWeek says: "Today companies use a mere 40% of their space."19 Suppose you want to disprove this claim, suspecting that it is an upward exaggeration. A random sample of the percentage used space for companies is 38, 18, 91, 37, 55, 80, 71, 92, 68, 78, 40, 36, 50, 45, 22, 19,
The best places in the United States to be a job seeker are state capitals and university towns, which are claimed to have jobless rates below the national average of 4.2%. A sample of 50 towns and state capitals showed average jobless rate of 1.4% with a standard deviation of 0.8%. State the null
Consider the null hypothesis μ ≥ 56. The population standard deviation is guessed to be 2.16. Type II error probabilities are to be calculated at μ = 55.a. Draw a β versus α chart with sample sizes 30, 40, 50, and 60.b. The test is conducted with a random sample of size 50 with α = 5%. Draw
The null hypothesis p = 0.25 is tested with n = 1,000 and α = 5%.a. Draw the power curve. What is the power when p = 0.22?b. Draw the OC curve for n = 1,000 and 1,200. Is there a lot to gain by going from n = 1,000 to n = 1,200?
The null hypothesis μ ≤ 30 is to be tested. The population standard deviation is guessed to be 0.52. Type II error probabilities are to be calculated at μ = 30.3.a. Draw a β versus α chart with sample sizes 30, 40, 50, and 60.b. The test is conducted with a random sample of size 30 with an α
If you look at the power curve or the OC curve of a two-tailed test, you see that there is no region that represents instances of type I error, whereas there are large regions that represent instances of type II error. Does this mean that there is no chance of type I error? Think carefully, and
The average weight of airline food packaging material is to be controlled so that the total weight of catering supplies does not exceed desired limits. An inspector who uses random sampling to accept or reject a batch of packaging materials uses the null hypothesis H0: μ ≤ 248 grams and an α of
A market research study is undertaken to test which of two popular electric shavers, a model made by Norelco or a model made by Remington, is preferred by consumers. A random sample of 25 men who regularly use an electric shaver, but not one of the two models to be tested, is chosen. Each man is
The photography department of a fashion magazine needs to choose a camera. Of the two models the department is considering, one is made by Nikon and one by Minolta. The department contracts with an agency to determine if one of the two models gets a higher average performance rating by professional
Marcus Robert Real Estate Company wants to test whether the average sale price of residential properties in a certain size range in Bel Air, California, is approximately equal to the average sale price of residential properties of the same size range in Marin County, California. The company gathers
Fortune compared global equities versus investments in the U.S. market. For the global market, the magazine found an average of 15% return over five years, while for U.S. markets it found an average of 6.2%.4 Suppose that both numbers are based on random samples of 40 investments in each market,
Many companies that cater to teenagers have learned that young people respond to commercials that provide dance-beat music, adventure, and a fast pace rather than words. In one test, a group of 128 teenagers were shown commercials featuring rock music, and their purchasing frequency of the
New corporate strategies take years to develop. Two methods for facilitating the development of new strategies by executive strategy meetings are to be compared.One method is to hold a two-day retreat in a posh hotel; the other is to hold a series of informal luncheon meetings on company premises.
A fashion industry analyst wants to prove that models featuring Liz Claiborne clothing earn on average more than models featuring clothes designed by Calvin Klein. For a given period of time, a random sample of 32 Liz Claiborne models reveals average earnings of $4,238.00 and a standard deviation
Active Trader compared earnings on stock investments when companies made strong pre-earnings announcements versus cases where pre-earnings announcements were weak. Both sample sizes were 28. The average performance for the strong preearnings announcement group was 0.19%, and the average performance
A brokerage firm is said to provide both brokerage services and "research" if, in addition to buying and selling securities for its clients, the firm furnishes clients with advice about the value of securities, information on economic factors and trends, and portfolio strategy. The Securities and
The recent boom in sales of travel books has led to the marketing of other travel-related guides, such as video travel guides and audio walking-tour tapes. Waldenbooks has been studying the market for these travel guides. In one market test, a random sample of 25 potential travelers was asked to
Business schools at certain prestigious universities offer nondegree management training programs for high-level executives. These programs supposedly develop executives' leadership abilities and help them advance to higher management positions within 2 years after program completion. A management
The performance ratings of two sports cars, the Mazda RX7 and the Nissan 300ZX, are to be compared. A random sample of 40 drivers is selected to drive the two models. Each driver tries one car of each model, and the 40 cars of each model are chosen randomly. The time of each test drive is recorded
Recent low-fare flights between Britain and eastern European destinations have brought large groups of English partygoers to cities such as Prague and Budapest.According to the New York Times, cheap beer is a big draw, with an average price of $1 as compared with $6 in Britain. Assume these two
As the U.S. economy cools down, investors look to emerging markets to offer growth opportunities. In China, investments have continued to grow. Suppose that a random sample of 15 investments in U.S. corporations had an average annual return of 3.8% and standard deviation of 2.2%. For a random
Ikarus, the Hungarian bus maker, lost its important Commonwealth of Independent States market and is reported on the verge of collapse. The company is now trying a new engine in its buses and has gathered the following random samples of miles-per-gallon figures for the old engine versus the new:Is
Air Transport World recently named the Dutch airline KLM "Airline of the Year." One measure of the airline's excellent management is its research effort in developing new routes and improving service on existing routes. The airline wanted to test the profitability of a certain transatlantic flight
According to Money, the average yield of a 6-month bank certificate of deposit (CD) is 3.56%, and the average yield for money market funds (MMFs) is 4.84%. Assume that these two averages come from two random samples of 20 each from these two kinds of investments, and that the sample standard
Mark Pollard, financial consultant for Merrill Lynch, Pierce, Fenner & Smith, Inc., is quoted in national advertisements for Merrill Lynch as saying: "I've made more money for clients by saying no than by saying yes." Suppose that Pollard allowed you access to his files so that you could
An article reports the results of an analysis of stock market returns before and after antitrust trials that resulted in the breakup of AT&T. The study concentrated on two periods: the pre-antitrust period of 1966 to 1973, denoted period 1, and the antitrust trial period of 1974 to 1981, called
The cosmetics giant Avon Products recently hired a new advertising firm to promote its products. Suppose that following the airing of a random set of 8 commercials made by the new firm, company sales rose an average of 3% and the standard deviation was 2%. For a random set of 10 airings of
In problem 8-25, construct a 95% confidence interval for the difference between the average return to investors following a no recommendation and the average return to investors following a yes recommendation. Interpret your results.In problem Mark Pollard, financial consultant for Merrill Lynch,
Airline mergers cause many problems for the airline industry. One variable often quoted as a measure of an airline's efficiency is the percentage of on-time departures. Following the merger of Republic Airlines with Northwest Airlines, the percentage of on-time departures for Northwest planes
Recent advances in cell phone screen quality have enabled the showing of movies and commercials on cell phone screens. But according to the New York Times, advertising is not as successful as movie viewing. Suppose the following data are numbers of viewers for a movie (M) and for a commercial aired
A physicians' group is interested in testing to determine whether more people in small towns choose a physician by word of mouth in comparison with people in large metropolitan areas. A random sample of 1,000 people in small towns reveals that 850 chose their physicians by word of mouth; a random
A corporate raider has been successful in 11 of 31 takeover attempts. Another corporate raider has been successful in 19 of 50 takeover bids. Assuming that the success rate of each raider at each trial is independent of all other attempts, and that the information presented can be regarded as based
A random sample of 2,060 consumers shows that 13% prefer California wines. Over the next three months, an advertising campaign is undertaken to show that California wines receive awards and win taste tests. The organizers of the campaign want to prove that the three-month campaign raised the
In problem 8-32, give a 95% confidence interval for the increase in the population proportion of consumers preferring California wines following the campaign. In problem A random sample of 2,060 consumers shows that 13% prefer California wines. Over the next three months, an advertising campaign is
Federal Reserve Board regulations permit banks to offer their clients commercial paper. A random sample of 650 customers of Bank of America reveals that 48 own commercial paper as part of their investment portfolios with the bank. A random sample of customers of Chemical Bank reveals that out of
Airbus Industrie, the European maker of the A380 long-range jet, is currently trying to expand its market worldwide. At one point, Airbus managers wanted to test whether their potential market in the United States, measured by the proportion of airline industry executives who would prefer the A380,
Data from the Bureau of Labor Statistics indicate that in one recent year the unemployment rate in Cleveland was 7.5% and the unemployment rate in Chicago was 7.2%. Suppose that both figures are based on random samples of 1,000 people in each city. Test the null hypothesis that the unemployment
Recently, Venezuela instituted a new accounting method for its oil revenues. Suppose that a random sample of 100 accounting transactions using the old method reveals 6 errors. Is there evidence of difference in method effectiveness? Explain.
According to USA Today, 32% of the public think that credit cards are safer than debit cards, while 19% believe that debit cards are safer than credit cards. If these results are based on two independent random samples, one of people who use primarily credit cards, and the other of people who use
Several companies have been developing electronic guidance systems for cars. Motorola and Germany's Blaupunkt are two firms in the forefront of such research. Out of 120 trials of the Motorola model, 101 were successful; and out of 200 tests of the Blaupunkt model, 110 were successful. Is there
A study is undertaken to determine how consumers react to energy conservation efforts. A random group of 60 families is chosen. Their consumption of electricity is monitored in a period before and a period after the families are offered certain discounts to reduce their energy consumption. Both
Compaq Computer Corporation has an assembly plant in Houston, where the company's Deskpro computer is built. Engineers at the plant are considering a new production facility and are interested in going online with the new facility if and only if they can be fairly sure that the variance of the
Test the validity of the equal-variance assumption in problem 8-27.In problem The cosmetics giant Avon Products recently hired a new advertising firm to promote its products. Suppose that following the airing of a random set of 8 commercials made by the new firm, company sales rose an average of 3%
Test the validity of the equal-variance assumption for the data presented in problem 8-25.In problem Mark Pollard, financial consultant for Merrill Lynch, Pierce, Fenner & Smith, Inc., is quoted in national advertisements for Merrill Lynch as saying: "I've made more money for clients by saying
Test the validity of the equal-variance assumption for the data presented in problem 8–26.In problem An article reports the results of an analysis of stock market returns before and after antitrust trials that resulted in the breakup of AT&T. The study concentrated on two periods: the
The following data are independent random samples of sales of the Nissan Pulsar model made in a joint venture of Nissan and Alfa Romeo. The data represent sales at dealerships before and after the announcement that the Pulsar model will no longer be made in Italy. Sales numbers are monthly.Before:
A large department store wants to test whether the variance of waiting time in two checkout counters is approximately equal. Two independent random samples of 25 waiting times in each of the counters gives s1 = 2.5 minutes and s2 = 3.1 minutes. Carry out the test of equality of variances, using α
An important measure of the risk associated with a stock is the standard deviation, or variance, of the stock's price movements. A financial analyst wants to test the one-tailed hypothesis that stock A has a greater risk (larger variance of price) than stock B. A random sample of 25 daily prices of
According to Money, the average cost of repairing a broken leg is $10,402, and the average cost of repairing a knee injury is $11,359.12 Assume that these two statistics are sample averages based on two independent random samples of 200 people each and that the sample standard deviation for the
In problem 8-48, construct a 99% confidence interval for the difference between the average cost of repairing a broken leg and the average cost of repairing an injured knee. Interpret your results.In problem According to Money, the average cost of repairing a broken leg is $10,402, and the average
A nationwide retailer wants to test whether new product shelf facings are effective in increasing sales volume. New shelf facings for the soft drink Country Time are tested at a random sample of 15 stores throughout the country. Data on total sales of Country Time for each store, for the week
"Strategizing for the future" is management lingo for sessions that help managers make better decisions. Managers who deliver the best stock performance get results by bold, rule-breaking strategies. To test the effectiveness of "strategizing for the future," companies' 5-year average stock
For problem 8-50, construct a 95% confidence interval for the difference in stock performance.In problem "Strategizing for the future" is management lingo for sessions that help managers make better decisions. Managers who deliver the best stock performance get results by bold, rule-breaking
According to a study reported in the New York Times, 48% of the viewers who watched NFL Football on TiVo viewed 1 to 6 commercials, while 26% of the viewers who watched Survivor: Cook Islands on TiVo viewed 1 to 6 commercials. If this information is based on two independent random samples of 200
For problem 8-52, give a 99% confidence interval for the difference between the proportions for viewers of the two shows who watched 1 to 6 commercials. Interpret the results.In problem According to a study reported in the New York Times, 48% of the viewers who watched NFL Football on TiVo viewed 1
According to the New York Times, the average number of roses imported to the United States from Costa Rica is 1,242 per month, while the average number imported from Guatemala each month is 1,240.14 Assume that these two numbers are the averages of samples of 15 months each, and that both sample
Two movies were screen-tested at two different samples of theaters. Mystic River was viewed at 80 theaters and was considered a success in terms of box office sales in 60 of these theaters. Swimming Pool was viewed at a random sample of 100 theaters and was considered a success in 65. Based on
For problem 8-55, give a 95% confidence interval for the difference in proportion of theaters nationwide where one movie will be preferred over the other. Is the point 0 contained in the interval? Discuss.In problem Two movies were screen-tested at two different samples of theaters. Mystic River
Two 12-meter boats, the K boat and the L boat, are tested as possible contenders in the America's Cup races. The following data represent the time, in minutes, to complete a particular track in independent random trials of the two boats:K boat: 12.0, 13.1, 11.8, 12.6, 14.0, 11.8, 12.7, 13.5, 12.4,
In problem 8-57, assume that the data points are paired as listed and that each pair represents performance of the two boats at a single trial. Conduct the test, using this assumption. What is the advantage of testing using the paired data versus independent samples?In problem Two 12-meter boats,
Home loan delinquencies have recently been causing problems throughout the American economy. According to USA Today, the percentage of homeowners falling behind on their mortgage payments in some sections of the West has been 4.95%, while in some areas of the South that rate was 6.79%. Assume that
Travel & Leisure conducted a survey of affordable hotels in various European countries.2 The following list shows the prices (in U.S. dollars) for one night of a double hotel room at comparable paired hotels in France and Spain.Conduct a test for equality of average hotel room prices in these
The IIT Technical Institute claims "94% of our graduates get jobs." Assume that the result is based on a random sample of 100 graduates of the program. Suppose that an independent random sample of 125 graduates of a competing technical institute reveals that 92% of these graduates got jobs. Is
The power of supercomputers derives from the idea of parallel processing. Engineers at Cray Research are interested in determining whether one of two parallel processing designs produces faster average computing time, or whether the two designs are equally fast. The following are the results, in
Test the validity of the equal-variance assumption in problem 8-61. If you reject the null hypothesis of equal-population variance, redo the test of problem 8-61 using another method.In problem The power of supercomputers derives from the idea of parallel processing. Engineers at Cray Research are
The senior vice president for marketing at Westin Hotels believes that the company's recent advertising of the Westin Plaza in New York has increased the average occupancy rate at that hotel by at least 5%. To test the hypothesis, a random sample of daily occupancy rates (in percentages) before the
For problem 8-63, test the validity of the equal-variance assumption.In problem The senior vice president for marketing at Westin Hotels believes that the company's recent advertising of the Westin Plaza in New York has increased the average occupancy rate at that hotel by at least 5%. To test the
Refer to problem 8-48. Test the null hypothesis that the variance of the cost of repairing a broken leg is equal to the variance of the cost of repairing an injured knee.In problem According to Money, the average cost of repairing a broken leg is $10,402, and the average cost of repairing a knee
Refer to problem 8-57. Do you believe that the variance of performance times for the K boat is about the same as the variance of performance times for the L boat? Explain. What are the implications of your result on the analysis of problem 8-57? If needed, redo the analysis in problem 8-57.In
A company is interested in offering its employees one of two employee benefit packages. A random sample of the company's employees is collected, and each person in the sample is asked to rate each of the two packages on an overall preference scale of 0 to 100. The order of presentation of each of
A company that makes electronic devices for use in hospitals needs to decide on one of two possible suppliers for a certain component to be used in the devices. The company gathers a random sample of 200 items made by supplier A and finds that 12 items are defective. An independent random sample of
Refer to problem 8-68. Give a 95% confidence interval for the difference in the proportions of defective items made by suppliers A and B.In problem, A company that makes electronic devices for use in hospitals needs to decide on one of two possible suppliers for a certain component to be used in
In problem 8–4, suppose that the population standard deviation is 1.0 and that the true average reduction in consumption for the entire population in the area is μD = 0.1. For a sample size of 60 and α = 0.01, what is the power of the test?In problem A study is undertaken to determine how
Refer to problem 8-63. Give a 90% confidence interval for the difference in average occupancy rates at the Westin Plaza hotel before and after the advertising.In problem The senior vice president for marketing at Westin Hotels believes that the company's recent advertising of the Westin Plaza in
Toys are entering the virtual world, and Mattel recently developed a digital version of its famous Barbie. The average price of the virtual doll is reported to be $60.16 A competing product sells for an average of $65. Suppose both averages are sample estimates based on independent random samples
Microlenders are institutions that lend relatively small amounts of money to businesses. An article on microlenders compared the average return on equity for lenders of two categories based on their credit ratings: Alpha versus Beta. For the Alpha group, a random sample of 74 firms, the average
Refer to the situation of problem 8-72. The study also compared average portfolios of microloans. For the Alpha group it was $50 million, and for the Beta group it was $14 million. Assume the Alpha group had a standard deviation of $20 million and the Beta group had a standard deviation of $8
According to Labor Department statistics, the average U.S. work week shortened from 39 hours in the 1950s and early 1960s to 35 hours in the 1990s. Assume the two statistics are based on independent t samples of 2,500 workers each, and the standard deviations are both 2 hours.a. Test for
According to Fortune, there has been an average decrease of 86% in the Atlantic cod catch over the last two decades. Suppose that two areas are monitored for catch sizes and one of them has a daily average of 1.7 tons and a standard deviation of 0.4 ton, while the other has an average daily catch
A survey finds that 62% of lower-income households have Internet access at home as compared to 70% of upper-income households. Assume that the data are based on random samples of size 500 each. Does this demonstrate that lower-income households are less likely to have Internet access than the
For problem 8-75, construct a 95% confidence interval for the difference between average catch in the two locations.In problem According to Fortune, there has been an average decrease of 86% in the Atlantic cod catch over the last two decades. Suppose that two areas are monitored for catch sizes
Two statisticians independently estimate the variance of the same normally distributed population, each using a random sample of size 10. One of their estimates is 3.18 times as large as the other. In such situations, how likely is the larger estimate to be at least 3.18 times the smaller one?
A manufacturer uses two different trucking companies to ship its merchandise. The manufacturer suspects that one company is charging more than the other and wants to test it. A random sample of the amounts charged for one truckload shipment from Chicago to Detroit on various days is collected for
Consider the information in the following table.Assume that the television programs were randomly selected from the population of all prime-time TV programs. Also assume that ratings are normally distributed. Conduct a statistical test to determine whether there is a significant difference between
Ethanol is getting wider use as car fuel when mixed with gasoline.3 A car manufacturer wants to evaluate the performance of engines using ethanol mix with that of pure gasoline. The sample average for 100 runs using ethanol is 76.5 on a 0 to 100 scale and the sample standard deviation is 38. For a

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