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Statistics For Business And Economics 11th Edition David R. Anderson, Dennis J. Sweeney, Thomas A. Williams - Solutions

Refer to exercise 5.a. Use α = .01 to test the hypotheses H0: β1 = β2 = 0Ha: β1 and/or β2 is not equal to zeroFor the model y = β0 + β1x1 + β2x2 + ε, wherex1 = television advertising ($1000s)x2 = newspaper advertising ($1000s)b. Use α = .05 to test the significance of = 1. Should x1 be
The Wall Street Journal conducted a study of basketball spending at top colleges. A portion of the data showing the revenue ($ millions), percentage of wins, and the coach€™s salary ($ millions) for 39 of the country€™s top basketball programs follows (The Wall Street Journal, March
Barron's conducts an annual review of online brokers, including both brokers who can be accessed via a Web browser, as well as direct-access brokers who connect customers directly with the broker's network server. Each broker's offerings and performance are evaluated in six areas, using a point
Refer to the data in exercise 2. The estimated regression equation for those data is y-bar = – 1 8.4 + 2.01x1 + 4.74x2 a. Develop a 95% confidence interval for the mean value of y when x1 = 45 and x2 = 15. b. Develop a 95% prediction interval for y when x1 = 45 and x2 = 15.
The Buyer's Guide section of the Web site for Car and Driver magazine provides reviews and road tests for cars, trucks, SUVs, and vans. The average ratings of overall quality, vehicle styling, braking, handling, fuel economy, interior comfort, acceleration, dependability, fit and finish,
Management proposed the following regression model to predict sales at a fast-food outlet.y = Î²0 + Î²1x1 + Î²2x2 + Î²3x3 + ÎµWhereThe following estimated regression equation was developed after 20 outlets were surveyed. y-bar = 10.1
Data for two variables, x and y, follow.a. Develop the estimated regression equation for these data.b. Plot the standardized residuals versus y-bar. Do there appear to be any outliers in these data? Explain.c. Compute the studentized deleted residuals for these data. At the .05 level of
Data for two variables, x and y, follow.a. Develop the estimated regression equation for these data.b. Compute the studentized deleted residuals for these data. At the .05 level of significance, can any of these observations be classified as an outlier? Explain.c. Compute the leverage values for
Exercise 5 gave the following data on weekly gross revenue, television advertising, and newspaper advertising for Showtime Movie Theaters.a. Find an estimated regression equation relating weekly gross revenue to television and newspaper advertising.b. Plot the standardized residuals against y-bar.
The following data show the curb weight, horsepower, and ¼-mile speed for 16 popular sports and GT cars. Suppose that the price of each sports and GT car is also available. The complete data set is as follows:a. Find the estimated regression equation, which uses price and horsepower to predict
The Ladies Professional Golfers Association (LPGA) maintains statistics on performance and earnings for members of the LPGA Tour. Year-end performance statistics for the 30 players who had the highest total earnings in LPGA Tour events for 2005 appear in the file named LPGA (LPGA website, 2006).
Refer to the Simmons Stores example introduced in this section. The dependent variable is coded as y = 1 if the customer used the coupon and 0 if not. Suppose that the only information available to help predict whether the customer will use the coupon is the customer's credit card status, coded as
In Table 15.12 we provided estimates of the probability using the coupon in the Simmons Stores catalog promotion. A different value is obtained for each combination of values for the independent variables.a. Compute the odds in favor of using the coupon for a customer with annual spending of $4000
Community Bank would like to increase the number of customers who use payroll direct deposit. Management is considering a new sales campaign that will require each branch manager to call each customer who does not currently use payroll direct deposit. As an incentive to sign up for payroll direct
Over the past few years the percentage of students who leave Lakeland College at the end of the first year has increased. Last year Lakeland started a voluntary one-week orientation program to help first-year students adjust to campus life. If Lakeland is able to show that the orientation program
Consumer Reports conducted a taste test on 19 brands of boxed chocolates. The following data show the price per serving, based on the FDA serving size of 1.4 ounces, and the quality rating for the 19 chocolates tested (Consumer Reports, February 2002).Suppose that you would like to determine
The owner of Showtime Movie Theaters, Inc., would like to estimate weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks follow.a. Develop an estimated regression equation with the amount of television advertising as the independent variable.b.
Consumer Reports provided extensive testing and ratings for 24 treadmills. An overall score, based primarily on ease of use, ergonomics, exercise range, and quality, was developed for each treadmill tested. In general, a higher overall score indicates better performance. The following data show the
In baseball, a team's success is often thought to be a function of the team's hitting and pitching performance. One measure of hitting performance is the number of home runs the team hits, and one measure of pitching performance is the earned run average for the team's pitching staff. It is
Would you expect more reliable and better performing cars to cost more? Consumer Reports provided reliability ratings, overall road-test scores, and prices for affordable family sedans, midpriced family sedans, and large sedans (Consumer Reports, February 2008). A portion of the data follows.
Waterskiing and wakeboarding are two popular water-sports. Finding a model that best suits your intended needs, whether it is waterskiing, wakeboading, or general boating, can be a difficult task. WaterSki magazine did extensive testing for 88 boats and provided a wide variety of information to
Consider the following data for two variables, x and y.a. Develop an estimated regression equation for the data of the form y-bar = b0 + b1x.b. Use the results from part (a) to test for a significant relationship between x and y.Use Î± = .05.c. Develop a scatter diagram for the data. Does the
The Ladies Professional Golfers Association (LPGA) maintains statistics on performance and earnings for members of the LPGA Tour. Year-end performance statistics for the 30 players who had the highest total earnings in LPGA Tour events for 2005 appear in the file named LPGA Tour (LPGA Tour website,
Refer to exercise 12.In exercise 12The Ladies Professional Golfers Association (LPGA) maintains statistics on performance and earnings for members of the LPGA Tour. Year-end performance statistics for the 30 players who had the highest total earnings in LPGA Tour events for 2005 appear in the file
In baseball, an earned run is any run that the opposing team scores off the pitcher except for runs scored as a result of errors. The earned run average (ERA), the statistic most often used to compare the performance of pitchers, is computed as follows:Note that the average number of earned runs
A study provided data on variables that may be related to the number of weeks a manufacturing worker has been jobless. The dependent variable in the study (Weeks) was defined as the number of weeks a worker has been jobless due to a layoff. The following independent variables were used in the
The Ladies Professional Golfers Association (LPGA) maintains statistics on performance and earnings for members of the LPGA Tour. Year-end performance statistics for the 30 players who had the highest total earnings in LPGA Tour events for 2005 appear in the file named LPGATour2 (LPGA Tour website,
Jeff Sagarin has been providing sports ratings for USA Today since 1985. In baseball his predicted RPG (runs/game) statistic takes into account the entire player's offensive statistics, and is claimed to be the best measure of a player's true offensive value. The following data show the RPG and a
Refer to exercise 14. Using age, blood pressure, whether a person is a smoker, and any interaction involving those variables, develop an estimated regression equation that can be used to predict risk. Briefly describe the process you used to develop an estimated regression equation for these
Consider the following data for two variables, x and y.a. Develop an estimated regression equation for the data of the form y-bar = b0 + b1x.Comment on the adequacy of this equation for predicting y.b. Develop an estimated regression equation for the data of the form y-bar b0 + b1x + b2x2. Comment
Write a multiple regression equation that can be used to analyze the data for a randomized block design involving three treatments and two blocks. Define all variables.
Write a multiple regression equation that can be used to analyze the data for a two-factorial design with two levels for factor A and three levels for factor B. Define all variables.
The Jacobs Chemical Company wants to estimate the mean time (minutes) required to mix a batch of material on machines produced by three different manufacturers. To limit the cost of testing, four batches of material were mixed on machines produced by each of the three manufacturers. The times
An automobile dealer conducted a test to determine whether the time needed to complete a minor engine tune-up depends on whether a computerized engine analyzer or an electronic analyzer is used. Because tune-up time varies among compact, intermediate, and full-sized cars, the three types of cars
A mail-order catalog firm designed a factorial experiment to test the effect of the size of a magazine advertisement and the advertisement design on the number (in thousands) of catalog requests received. Three advertising designs and two sizes of advertisements were considered. The following data
The following data show the daily closing prices (in dollars per share) for IBM for November 3, 2005, through December 1, 2005 (Compustat, February 26, 2006).a. Define the independent variable Period, where Period = 1 corresponds to the data for November 3, Period = 2 corresponds to the data for
Refer to the Cravens data set in Table 16.5. In Section 16.3 we showed that the estimated regression equation involving Accounts, AdvExp, Poten, and Share had an adjusted coefficient of determination of 88.1%. Use the .05 level of significance and apply the Durbin-Watson test to determine whether
Lower prices for color laser printers make them a great alternative to inkjet printers. PC World reviewed and rated 10 color laser printers. The following data show the printing speed for color graphics in pages per minute (ppm) and the overall PC World rating for each printer tested (PC World,
Consider the following data for two variables, x and y.a. Does there appear to be a linear relationship between x and y? Explain.b. Develop the estimated regression equation relating x and y.c. Plot the standardized residuals versus for the estimated regression equation developed in part (b). Do
Consumer Reports tested 19 different brands and models of road, fitness, and comfort bikes. Road bikes are designed for long road trips; fitness bikes are designed for regular workouts or daily commutes; and comfort bikes are designed for leisure rides on typically flat roads. The following data
A study investigated the relationship between audit delay (Delay), the length of time from a company's fiscal year-end to the date of the auditor's report, and variables that describe the client and the auditor. Some of the independent variables that were included in this study follow.Industry A
Refer to the data in exercise 31.a. Develop an estimated regression equation that can be used to predict Delay by using Industry and Quality.b. Plot the residuals obtained from the estimated regression equation developed in part (a) as a function of the order in which the data are presented. Does
Money magazine reported price and related data for 418 of the most popular vehicles of the 2003 model year. One of the variables reported was the vehicle's resale value, expressed as a percentage of the manufacturer's suggested resale price. The data were classified according to size and type of
A highway department is studying the relationship between traffic flow and speed. The following model has been hypothesized.y = β0 + β1x + εWherey = traffic flow in vehicles per hourx = vehicle speed in miles per hourThe following data were collected during rush hour for six highways leading out
In working further with the problem of exercise 4, statisticians suggested the use of the following curvilinear estimated regression equation.yˆ = b0 + b1x + b2x2a. Use the data of exercise 4 to estimate the parameters of this estimated regression equation.b. Use α = .01 to test for a significant
A study of emergency service facilities investigated the relationship between the number of facilities and the average distance traveled to provide the emergency service. The following table gives the data collected.a. Develop a scatter diagram for these data, treating average distance traveled as
Almost all U.S. light-rail systems use electric cars that run on tracks built at street level. According to the Federal Transit Administration, light-rail is one of the safest modes of travel, with an accident rate of .99 accidents per million passenger miles as compared to 2.29 for buses. The
Corvette, Ferrari, and Jaguar produced a variety of classic cars that continue to increase in value. The following data, based upon the Martin Rating System for Collectible Cars, show the rarity rating (1-20) and the high price ($1000) for 15 classic cars (BusinessWeek website, February 2006).a.
Kiplinger's Personal Finance Magazine rated 359 U.S. metropolitan areas to determine the best cities to live, work, and play. The data contained in the data set named Metro Areas show the data from the Kiplinger study for the 50 metropolitan areas with a population of 1,000,000 or more (Kiplinger's
The following table reports prices and usage quantities for two items in 2007 and 2009.a. Compute price relatives for each item in 2009 using 2007 as the base period.b. Compute an unweighted aggregate price index for the two items in 2009 using 2007 as the base period.c. Compute a weighted
Average hourly wages for production workers in February 1996 were $11.86; in February 2009, they were $18.55. The CPI in February 1996 was 154.9; in February 2009 it was 212.2.a. Deflate the hourly wage rates in 1996 and 2009 to find the real wage rates.b. What is the percentage change in actual
Average hourly wages for workers in service industries for the four years from 2002 through 2005 are reported here. Use the Consumer Price Index information provided to deflate the wages series. Calculate the percentage increase or decrease in real wages and salaries from 2003 to 2005.
The U.S. Census Bureau reported the following total manufacturing shipments for the three years from 2005 through 2007. Manufacturing Shipments Year ($ billions) 2005 ......... 4742 2006 ......... 5020 2007 ......... 5081 a. The CPI for 2005-2007 is given in Table 17.8. Use this
Dooley Retail Outlets' total retail sales volumes for selected years since 1982 are shown in the following table. Also shown is the CPI with the index base of 1982-1984. Deflate the sales volume figures on the basis of 1982-1984 constant dollars, and comment on the firm's sales volumes in terms of
Data on quantities of three items sold in 1995 and 2009 are given here along with the sales prices of the items in 1995. Compute a weighted aggregate quantity index for 2009.
A trucking firm handles four commodities for a particular distributor. Total shipments for the commodities in 1994 and 2009, as well as the 1994 prices, are reported in the following table.Develop a weighted aggregate quantity index with a 1994 base. Comment on the growth or decline in quantities
An automobile dealer reports the 1992 and 2009 sales for three models in the following table. Compute quantity relatives and use them to develop a weighted aggregate quantity index for 2009 using the two years of data.
The median sales prices for new single-family houses for the years 2004-2007 are as follows (Census Bureau website, March 19, 2009). Year Price ($1000s)2004 ...........221.02005 ...........240.92006 ...........246.52007 ...........247.9a. Use 2004 as the base year and develop a price index
Nickerson Manufacturing Company has the following data on quantities shipped and unit costs for each of its four products:a. Compute the price relative for each product. b. Compute a weighted aggregate price index that reflects the shipping cost change over the four-year period.
Use the price data in exercise 18 to compute a Paasche index for the shipping cost if 2009 quantities are 4000, 3000, 7500, and 3000 for each of the four products.In exercise 18
An item with a price relative of 132 cost $10.75 in 2009. Its base year was 1992.a. What was the percentage increase or decrease in cost of the item over the 17-year period?b. What did the item cost in 1992?
Boran Stockbrokers, Inc., selects four stocks for the purpose of developing its own index of stock market behavior. Prices per share for a 2007 base period, January 2009, and March 2009 follow. Base-year quantities are set on the basis of historical volumes for the four stocks.
Compute the price relatives for the four stocks making up the Boran index in exercise 20.Use the weighted aggregates of price relatives to compute the January 2009 and March 2009 Boran indexes.In exercise 20
Consider the following price relatives and quantity information for grain production in Iowa (Census Bureau website, March 19, 2009).What is the 2007 weighted aggregate price index for the Iowa grains?
Fresh fruit price and quantity data for the years 1988 and 2007 follow (Census Bureau website, March 19, 2009). Quantity data reflect per capita consumption in pounds and prices are per pound.a. Compute a price relative for each product.b. Compute a weighted aggregate price index for fruit
Starting faculty salaries (nine-month basis) for assistant professors of business administration at a major Midwestern university follow. Use the CPI to deflate the salary data to constant dollars. Comment on the trend in salaries in higher education as indicated by these data.
The five-year historical prices per share for a particular stock and the Consumer Price Index with a 1982-1984 base period follow.Deflate the stock price series and comment on the investment aspects of this stock.
A major manufacturing company reports the quantity and product value information for 2005 and 2009 in the table that follows. Compute a weighted aggregate quantity index for the data. Comment on what this quantity index means.
A large manufacturer purchases an identical component from three independent suppliers that differ in unit price and quantity supplied. The relevant data for 2007 and 2009 are given here.a. Compute the price relatives for each of the component suppliers separately. Compare the price increases by
R&B Beverages, Inc., provides a complete line of beer, wine, and soft drink products for distribution through retail outlets in central Iowa. Unit price data for 2006 and 2009 and quantities sold in cases for 2006 follow.Compute a weighted aggregate index for the R&B Beverage sales in 2009, with
Under the last-in first-out (LIFO) inventory valuation method, a price index for inventory must be established for tax purposes. The quantity weights are based on year-ending inventory levels. Use the beginning-of-the-year price per unit as the base-period price and develop a weighted aggregate
Price relatives for three items, along with base-period prices and usage are shown in the following table. Compute a weighted aggregate price index for the current period.
The Mitchell Chemical Company produces a special industrial chemical that is a blend of three chemical ingredients. The beginning-year cost per pound, the ending-year cost per pound, and the blend proportions follow.a. Compute the price relatives for the three ingredients.b. Compute a weighted
An investment portfolio consists of four stocks. The purchase price, current price, and number of shares are reported in the following table.Construct a weighted average of price relatives as an index of the performance of the portfolio to date. Interpret this price index.
Compute the price relatives for the R&B Beverages products in exercise 4. Use a weighted average of price relatives to show that this method provides the same index as the weighted aggregate method.In exercise 4
Exercises 1 and 2 used different forecasting methods. Which method appears to provide the more accurate forecasts for the historical data? Explain.In exercise 1In exercise 2 Refer to the time series data in exercise 1. Using the average of all the historical data as a forecast for the next period,
Three years of monthly lawn-maintenance expenses ($) for a six-unit apartment house in southern Florida follow.a. Construct a time series plot. What type of pattern exists in the data? b. Develop an estimated regression equation that can be used to account for any seasonal and linear trend effects
Three years of monthly lawn-maintenance expenses ($) for a six-unit apartment house in southern Florida follow.a. Construct a time series plot. What type of pattern exists in the data? b. Identify the monthly seasonal indexes for the three years of lawn-maintenance expenses for the apartment house
The weekly demand (in cases) for a particular brand of automatic dishwasher detergent for a chain of grocery stores located in Columbus, Ohio, follows.a. Construct a time series plot. What type of pattern exists in the data? b. Use a three-week moving average to develop a forecast for week 11. c.
The following table reports the percentage of stocks in a portfolio for nine quarters from 2007 to 2009. Quarter Stock % 1st—2007 ............ 29.8 2nd—2007 ............ 31.0 3rd—2007 ............ 29.9 4th—2007 ............ 30.1 1st—2008
To avoid a monthly service fee in an interest-bearing checking account, customers must maintain a minimum average daily balance. Bankrate's 2008 survey of 249 banks and thrifts in the top 25 metropolitan areas showed that you need to maintain an average balance of $3,462 to avoid a monthly service
Canton Supplies, Inc., is a service firm that employs approximately 100 individuals. Managers of Canton Supplies are concerned about meeting monthly cash obligations and want to develop a forecast of monthly cash requirements. Because of a recent change in operating policy, only the past seven
The following hypothesis test is to be conducted. H0: Median > 150 Ha: Median < 150 A sample of 30 provided 22 observations greater than 150, 3 observations equal to 150, and 5 observations less than 150. Use α = .01. What is your conclusion?
Nielsen Media Research identified American Idol and Dancing with the Stars as the two top-rated prime-time television shows (USA Today, April 14, 2008). In a local television preference survey, 750 individuals were asked to indicate their favorite prime-time television show: Three hundred thirty
Competition in the personal computer market is intense. A sample of 450 purchases showed 202 Brand A computers, 175 Brand B computers, and 73 other computers. Use a .05 level of significance to test the null hypothesis that Brand A and Brand B have the same share of the personal computer market.
Two fuel additives are tested to determine their effect on miles per gallon for passenger cars. Test results for 12 cars follow; each car was tested with both fuel additives. Use Î± = .05 and the Wilcox on signed-rank test to see whether there is a significant difference between the median miles
A sample of 10 men was used in a study to test the effects of a relaxant on the time required to fall asleep. Data for 10 subjects showing the number of minutes required to fall asleep with and without the relaxant follow. Use a .05 level of significance to determine whether the relaxant reduces
Percents of on-time arrivals for flights in 2006 and 2007 were collected for 11 randomly selected airports. Data for these airports follow (Research and Innovative Technology Administration website, August 29, 2008). Use Î± = .05 to test the hypothesis that there is no difference between the
A test was conducted for two overnight mail delivery services. Two samples of identical deliveries were set up so that both delivery services were notified of the need for a delivery at the same time. The hours required to make each delivery follow. Do the data shown suggest a difference in the
The PGA Players Championship was held at the Sedgefield Country Club in Greensboro, North Carolina, August 11-17, 2008. Shown here are first-round and second-round scores for a random sample of 11 golfers. Use Î± = .05 to determine whether the first- and second-round median scores for golfers in
The Scholastic Aptitude Test (SAT) consists of three parts: critical reading, mathematics, and writing. Each part of the test is scored on a 200- to 800-point scale with a median of approximately 500 (The World Almanac, 2009). Scores for each part of the test can be assumed to be symmetric. Use the
Two fuel additives are being tested to determine their effect on gasoline mileage. Seven cars were tested with additive 1 and nine cars were tested with additive 2. The following data show the miles per gallon obtained with the two additives. Use α = .05 and the MWW test to see whether there is a
Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars.Public Accountant Financial Planner50.2 ............49.058.8 ............49.256.3 ............53.158.2 ............55.954.2
Ten individuals participated in a taste test involving two brands of a product. Sample results show 7 preferred brand A, 2 preferred brand B, and 1 was unable to state a preference. With α = .05, test for a significant difference in the preferences for the two brands. What is your conclusion?
The gap between the earnings of men and women with equal education is narrowing but has not closed. Sample data for seven men and seven women with bachelor's degrees are as follows. Data are shown in thousands of dollars. Men Women35.6 ..........49.580.5 ..........40.450.2
Unisys maintains a hurricane database which provides information on hurricanes in the Atlantic/ Caribbean/Gulf of Mexico and the Eastern Pacific Ocean. Maximum wind speeds in knots for a sample of hurricanes over the past four hurricane seasons are shown (Unisys weather website, April 2009).Use
Each year BusinessWeek publishes statistics on the world's 1000 largest companies. A company's price/earnings (P/E) ratio is the company's current stock price divided by the latest 12 months' earnings per share. The following table shows the P/E ratios for a sample of 10 Japanese companies and 12
Police records show the following numbers of daily crime reports for a sample of days during the winter months and a sample of days during the summer months. Use a .05 level of significance to determine whether there is a significant difference between the winter and summer months in terms of the
A certain brand of microwave oven was priced at 10 stores in Dallas and 13 stores in San Antonio. The data follow. Use a .05 level of significance and test whether prices for the microwave oven are the same in the two cities.
The National Football League (NFL) holds its annual draft of the nation's best college football players in April each year. Prior to the draft, various sporting news services project the players who will be drafted along with the order in which each will be selected. The better players are selected

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