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Business Statistics for Contemporary Decision Making 6th Edition Ken Black - Solutions

Construct a scatter plot for the following two numerical variables.x y12 ........... 517 ........... 39 ..........106 ..........1510.......... 814 .......... 98 ............ 8
The Whitcomb Company manufactures a metal ring for industrial engines that usually weighs about 50 ounces. A random sample of 50 of these metal rings produced the following weights (inounces).
A northwestern distribution company surveyed 53 of its midlevel managers. The survey obtained the ages of these managers, which later were organized into the frequency distribution shown. Determine the class midpoint, relative frequency, and cumulative frequency for these data.Class Interval
Use the data from Problem.Class Interval Frequency20–under 25 ............. 825–under 30 ............. 630–under 35 ............. 535–under 40 .............1240–under 45 .............1545–under 50 ............. 7a. Construct a histogram and a frequency
The following data are shaped roughly like a normal distribution (discussed in Chapter 6).Construct a frequency distribution starting with 10 as the lowest class beginning point and use a class width of 10. Construct a histogram and a frequency polygon for this frequency distribution and observe
In a medium-sized southern city, 86 houses are for sale, each having about 2000 square feet of floor space. The asking prices vary. The frequency distribution shown contains the price categories for the 86 houses. Construct a histogram, a frequency polygon, and an ogive from these data.Asking Price
Good, relatively inexpensive prenatal care often can prevent a lifetime of expense owing to complications resulting from a baby’s low birth weight. A survey of a random sample of 57 new mothers asked them to estimate how much they spent on prenatal care. The researcher tallied the results and
A consumer group surveyed food prices at 87 stores on the East Coast. Among the food prices being measured was that of sugar. From the data collected, the group constructed the frequency distribution of the prices of 5 pounds of Domino’s sugar in the stores surveyed.Compute a histogram, a
The top music genres according to SoundScan for a recent year are R&B, Alternative (Rock), Rap, and Country. These and other music genres along with the number of albums sold in each (in millions) are shown.Genre Albums SoldR&B ........... 146.4Alternative .......... 102.6Rap
The following figures for U.S. imports of agricultural products and manufactured goods were taken from selected years over a 30-year period (in $ billions). The source of the data is the U.S. International Trade Administration. Construct a scatter plot for these data and determine whether any
Shown here is a list of the industries with the largest total release of toxic chemicals in a recent year according to the U.S. Environmental Protection Agency. Construct a pie chart and a bar chart to depict this information.Industry Total Release (pounds)Chemicals ..............737,100,000Primary
A manufacturing company produces plastic bottles for the dairy industry. Some of the bottles are rejected because of poor quality. Causes of poor-quality bottles include faulty plastic, incorrect labeling, discoloration, incorrect thickness, broken handle, and others. The following data for 500
A research organization selected 50 U.S. towns with Census 2000 populations between 4,000 and 6,000 as a sample to represent small towns for survey purposes.The populations of these towns follow.Construct a stem-and-leaf plot for the data, letting each leaf contain twodigits.
Study the following dot plot and comment on the general shape of the distribution. Discuss any gaps or heavy concentrations in thedata.
Shown here is an Excel-produced pie chart representing physician specialties. What does the chart tell you about the various specialties?
Suppose 100 CPA firms are surveyed to determine how many audits they perform over a certain time. The data are summarized using the Minitab stem-and-leaf plot shown in the next column. What can you learn about the number of audits being performed by these firms from thisplot?
The following Excel ogive shows toy sales by a company over a 12-month period. What conclusions can you reach about toy sales at thiscompany?
Procter & Gamble has been the leading soap manufacturer in the United States since 1879, when it introduced Ivory soap. However, late in 1991, its major rival, Lever Bros. (Unilever), overtook it by grabbing 31.5% of the $1.6 billion personal soap market, of which Procter & Gamble had a
Determine the mode for the followingnumbers.
Determine the median for the numbers inProblem.
Determine the median for the followingnumbers.
Compute the mean for the followingnumbers.
Compute the mean for the followingnumbers.
Compute the 35th percentile, the 55th percentile,Q1, Q2, and Q3 for the following data.
Compute P20, P47, P83, Q1, Q2, and Q3 for the following data.
The following list shows the 15 largest banks in the world by assets according to EagleTraders.com. Compute the median and the mean assets from this group. Which of these two measures do think is most appropriate for summarizing these data, and why? What is the value of Q2? Determine the 63rd
The following lists the 10 largest automakers in the world and the number of vehicles produced by each in a recent year. Compute the median, Q3, P20, P60, P80, and P93 on these data.Auto Manufacturer Production (millions)Toyota Motor Corp. ...........9.37General Motors .............8.90Volkswagen
The following lists the number of fatal accidents by scheduled commercial airlines over a 17-year period according to the Air Transport Association of America. Using these data, compute the mean, median, and mode.What is the value of the third quartile? Determine P11, P35, P58, andP67.
A data set contains the following seven values.6 2 4 9 1 3 5a. Find the range.b. Find the mean absolute deviation.c. Find the population variance.d. Find the population standard deviation.e. Find the interquartile range.f. Find the z score for each value.
A data set contains the following eight values.4 3 0 5 2 9 4 5a. Find the range.b. Find the mean absolute deviation.c. Find the sample variance.d. Find the sample standard deviation.e. Find the interquartile range.
A data set contains the following six values.12 23 19 26 24 23a. Find the population standard deviation using the formula containing the mean (the original formula).b. Find the population standard deviation using the computational formula.c. Compare the results.Which formula was faster to use?
Use your calculator or computer to find the sample variance and sample standard deviation for the followingdata.
Use your calculator or computer to find the population variance and population standard deviation for the followingdata.
Determine the interquartile range on the followingdata.
According to Chebyshev’s theorem, at least what proportion of the data will be within µ ± k for each value of k?a. k = 2b. k = 2.5c. k = 1.6d. k = 3.2
Compare the variability of the following two sets of data by using both the populationstandard deviation and the population coefficient of variation.Data Set 1 Data Set 249 ...........15982 ...........12177 ...........13854 ...........152
A sample of 12 small accounting firms reveals the following numbers of professionals per office.a. Determine the mean absolute deviation.b. Determine the variance.c. Determine the standard deviation.d. Determine the interquartile range.e. What is the z score for the firm that has six
Shown below are the top food and drug stores in the United States in a recent year according to Fortune magazine.Company Revenues ($ billions)Kroger ...........66.11Walgreen ..........47.41CVS/Caremark .......43.81Safeway ...........40.19Publix Super Markets .....21.82Supervalu .........19.86Rite
A distribution of numbers is approximately bell shaped. If the mean of the numbers is 125 and the standard deviation is 12, between what two numbers would approximately 68% of the values fall? Between what two numbers would 95% of the values fall?Between what two values would 99.7% of the values
Some numbers are not normally distributed. If the mean of the numbers is 38 and the standard deviation is 6, what proportion of values would fall between 26 and 50? What proportion of values would fall between 14 and 62? Between what two values would 89% of the values fall?
According to Chebyshev's theorem, how many standard deviations from the mean would include at least 80% of the values?
The time needed to assemble a particular piece of furniture with experience is normally distributed with a mean time of 43 minutes. If 68% of the assembly times are between 40 and 46 minutes, what is the value of the standard deviation? Suppose 99.7% of the assembly times are between 35 and 51
Environmentalists are concerned about emissions of sulfur dioxide into the air. The average number of days per year in which sulfur dioxide levels exceed 150 milligrams per cubic meter in Milan, Italy, is 29. The number of days per year in which emission limits are exceeded is normally distributed
Shown below are the per diem business travel expenses listed by Runzheimer International for 11 selected cities around the world. Use this list to calculate the z scores for Moscow, Beijing, Rio de Janeiro, and London. Treat the list as a sample.City Per Diem Expense ($)Beijing
Compute the mean, the median, and the mode for the following data.Class f0–under 2 .........392–under 4 .........274–under 6 .........166–under 8 .........158–under 10 .........1010–under 12 ........ 812–under 14 ........ 6
Compute the mean, the median, and the mode for the following data.Class f1.2–under 1.6 ........2201.6–under 2.0 ........1502.0–under 2.4 ........ 902.4–under 2.8 ........1102.8–under 3.2 ........280
Determine the population variance and standard deviation for the following data by using the original formula.Class f20–under 30 ........ 730–under 40 ........1140–under 50 ........1850–under 60 ........1360–under 70 ........ 670–under 80 ........ 4
Determine the sample variance and standard deviation for the following data by using the computational formula.Class f5–under 9 .........209–under 13 .........1813–under 17 ........ 817–under 21 ........ 621–under 25 ......... 2
A random sample of voters in Nashville, Tennessee, is classified by age group, as shown by the following data.Age Group Frequency18–under 24 .........1724–under 30 .........2230–under 36 .........2636–under 42 .........3542–under 48 .........3348–under 54 .........3054–under 60
The following data represent the number of appointments made per 15-minute interval by telephone solicitation for a lawn-care company. Assume these are population data.Number of FrequencyAppointments of Occurrence0–under 1 .........311–under 2 .........572–under 3 .........263–under 4
The Air Transport Association of America publishes figures on the busiest airports in the United States. The following frequency distribution has been constructed from these figures for a recent year. Assume these are population data.Number of PassengersArriving and Departing Number of(millions)
The frequency distribution shown represents the number of farms per state for the 50 United States, based on information from the U.S. Department of Agriculture. Determine the average number of farms per state from these data. The mean computed from the original ungrouped data was 41,796 and the
On a certain day the average closing price of a group of stocks on the New York Stock Exchange is $35 (to the nearest dollar). If the median value is $33 and the mode is $21, is the distribution of these stock prices skewed? If so, how?
A local hotel offers ballroom dancing on Friday nights. A researcher observes the customers and estimates their ages. Discuss the skewness of the distribution of ages if the mean age is 51, the median age is 54, and the modal age is 59.
The sales volumes for the top real estate brokerage firms in the United States for a recent year were analyzed using descriptive statistics. The mean annual dollar volume for these firms was $5.51 billion, the median was $3.19 billion, and the standard deviation was $9.59 billion. Compute the value
Suppose the following data are the ages of Internet users obtained from a sample. Use these data to compute a Pearsonian coefficient of skewness.What is the meaning of thecoefficient?
Construct a box-and-whisker plot on the following data. Do the data contain any outliers? Is the distribution of dataskewed?
Suppose a consumer group asked 18 consumers to keep a yearly log of their shopping practices and that the following data represent the number of coupons used by each consumer over the yearly period. Use the data to construct a box-and-whisker plot. List the median, Q1, Q3, the endpoints for the
The 2000 U.S. Census asked every household to report information on each person living there. Suppose for a sample of 30 households selected, the number of persons living in each was reported as follows.Compute the mean, median, mode, range, lower and upper quartiles, and interquartile range for
The 2000 U.S. Census also asked for each personâ€™s age. Suppose that a sample of 40 households taken from the census data showed the age of the first person recorded on the census form to be as follows.Compute P10, P80, Q1, Q3, the interquartile range, and the range for thesedata.
Shown below are the top 20 companies in the computer industry by sales according to netvalley.com in a recent year. Compute the mean, median, P30, P60, P90, Q1, Q3, range, and interquartile range on these data.Company Sales ($ millions)IBM ..................91,134Hewlett Packard
Shown in right column are the top 10 companies receiving the largest dollar volume of contract awards from the U.S. Department of Defense in a recent year. Use this population data to compute a mean and a standard deviation for these top 10 companies.Amount of ContractsCompany ($ billions)Lockheed
Shown here are the U.S. oil refineries with the largest capacity in terms of barrels per day according to the U.S. Energy Information Administration. Use these as population data and answer the questions.a. What are the values of the mean and the median? Compare the answers and state which you
The U.S. Department of the Interior releases figures on mineral production. Following are the 14 leading states in nonfuel mineral production in the United States.State Value ($ billions)Arizona ............4.35California ...........4.24Nevada ............3.88Florida ............2.89Utah
The radio music listener market is diverse. Listener formats might include adult contemporary, album rock, top 40, oldies, rap, country and western, classical, and jazz. In targeting audiences, market researchers need to be concerned about the ages of the listeners attracted to particular formats.
A research agency administers a demographic survey to 90 telemarketing companies to determine the size of their operations. When asked to report how many employees now work in their telemarketing operation, the companies gave responses ranging from 1 to 100. The agency’s analyst organizes the
Financial analysts like to use the standard deviation as a measure of risk for a stock. The greater the deviation in a stock price over time, the more risky it is to invest in the stock. However, the average prices of some stocks are considerably higher than the average price of others, allowing
The Polk Company reported that the average age of a car on U.S. roads in a recent year was 7.5 years. Suppose the distribution of ages of cars on U.S. roads is approximately bell shaped. If 99.7% of the ages are between 1 year and 14 years, what is the standard deviation of car age? Suppose the
According to a Human Resources report, a worker in the industrial countries spends on average 419 minutes a day on the job. Suppose the standard deviation of time spent on the job is 27 minutes.a. If the distribution of time spent on the job is approximately bell shaped, between what two times
During the 1990s, businesses were expected to show a lot of interest in Central and Eastern European countries.As new markets began to open, American businesspeople needed a better understanding of the market potential there. The following are the per capita GDP figures for eight of these European
According to the Bureau of Labor Statistics, the average annual salary of a worker in Detroit, Michigan, is $35,748. Suppose the median annual salary for a worker in this group is $31,369 and the mode is $29,500. Is the distribution of salaries for this group skewed? If so, how and why? Which of
According to the U.S. Army Corps of Engineers, the top 20 U.S. ports, ranked by total tonnage (in million tons), were as follows.Port Total TonnageSouth Louisiana, LA ..........212.7Houston, TX .............211.7New York, NY and NJ .........152.1Huntington, WV, KY, and OH ........ 83.9Long Beach,
Runzheimer International publishes data on overseas business travel costs. They report that the average per diem total for a business traveler in Paris, France, is $349. Suppose the shape of the distribution of the per diem costs of a business traveler to Paris is unknown, but that 53% of the per
Netvalley.com compiled a list of the top 100 banks in the United States according to total assets. Leading the list was Bank of America, followed by JPMorgan Chase and Citibank. Following is an Excel analysis of total assets ($ billions) of these banks using the descriptive statistics feature.
Hispanic Business magazine publishes a list of the top 50 advertisers in the Hispanic market. The advertising spending for each of these 50 advertisers (in $ millions) was entered into a Minitab spreadsheet and the data were analyzed using Minitab's Graphical Summary.Study the output from this
Excel was used to analyze the number of employees for the top 60 employers with headquarters around the world outside of the United States. The data was compiled by myglobalcareer.com, extracted from My Global Career 500, and was analyzed using Excel's descriptive statistics feature. Summarize what
The Nielsen Company compiled a list of the top 25 advertisers in African American media. Shown below are a Minitab descriptive statistics analysis of the annual advertising spending in $ million by these companies in African American media and a box plot of these data.Study this output and
The Coca-Cola Company is the number-one seller of soft drinks in the world. Every day an average of more than 1.5 billion servings of Coca-Cola, Diet Coke, Sprite, Fanta, and other products of Coca-Cola are enjoyed around the world. The company has the world's largest production and distribution
In the mid-1990s, Colgate-Palmolive developed a new toothpaste for the U.S. market, Colgate Total, with an antibacterial ingredient that was already being successfully sold overseas. However, the word antibacterial was not allowed for such products by the Food and Drug Administration rules. So
A supplier shipped a lot of six parts to a company. The lot contained three defective parts. Suppose the customer decided to randomly select two parts and test them for defects. How large a sample space is the customer potentially working with? List the sample space. Using the sample space list,
Given X = {1, 3, 5, 7, 8, 9}, Y = {2, 4, 7, 9}, and Z = {1, 2, 3, 4, 7}, solve the following.a.X U Z = _____ b. X ∩ Y= _____c. X ∩ Z = _____ d. X U Y U Z = _____e. X ∩ Y ∩ Z = _____ f. (X U Y) ∩ Z = _____g. (Y ∩ Z) U (X ∩ Y) = _____ h. X or Y = _____i. Y and X = _____
If a population consists of the positive even numbers through 30 and if A = {2, 6, 12, 24}, what is A'?
A bin contains six parts. Two of the parts are defective and four are acceptable. If three of the six parts are selected from the bin, how large is the sample space? Which counting rule did you use, and why? For this sample space, what is the probability that exactly one of the three sampled parts
A small company has 20 employees. Six of these employees will be selected randomly to be interviewed as part of an employee satisfaction program. How many different groups of six can be selected?
Given P(A) = .10, P(B) = .12, P(C) = .21, P(A ∩ C) = .05, and P(B ∩ C) = .03, solvethe following.a. P(A U C) = ____________b. P(B U C) = ____________c. If A and B are mutually exclusive, P(A U B) = ____________
Use the values in the matrix to solve the equations given.a. P(A U D) = __________b. P(E U B) = __________c. P(D U E) = __________d. P (C U F) =__________
Use the values in the matrix to solve the equations given.a. P(A U F) = __________b. P(E U B) = __________c. P(B U C) = __________d. P (E U F) =__________
Suppose that 47% of all Americans have flown in an airplane at least once and that 28% of all Americans have ridden on a train at least once.What is the probability that a randomly selected American has either ridden on a train or flown in an airplane? Can this problem be solved? Under what
According to the U.S. Bureau of Labor Statistics, 75% of the women 25 through 49 years of age participate in the labor force. Suppose 78% of the women in that age group are married. Suppose also that 61% of all women 25 through 49 years of age are married and are participating in the labor force.a.
According to Nielsen Media Research, approximately 67% of all U.S. households with television have cable TV. Seventy-four percent of all U.S. households with television have two or more TV sets. Suppose 55% of all U.S. households with television have cable TV and two or more TV sets. A U.S.
A survey conducted by the Northwestern University Lindquist-Endicott Report asked 320 companies about the procedures they use in hiring. Only 54% of the responding companies review the applicant's college transcript as part of the hiring process, and only 44% consider faculty references. Assume
Use the values in the contingency table to solve the equations given.a. P(A âˆ© E) = __________b. P(D âˆ© B) = __________c. P(D âˆ© E) = __________d. P (A âˆ© B) =__________
Use the values in the probability matrix to solve the equations given.a. P(E âˆ© B) = __________b. P(C âˆ© F) = __________c. P(E âˆ© D) =__________
a. A batch of 50 parts contains six defects. If two parts are drawn randomly one at a time without replacement, what is the probability that both parts are defective?b. If this experiment is repeated, with replacement, what is the probability that both parts are defective?
According to the nonprofit group Zero Population Growth, 78% of the U.S. population now lives in urban areas. Scientists at Princeton University and the University of Wisconsin report that about 15% of all American adults care for ill relatives. Suppose that 11% of adults living in urban areas care
A study by Peter D. Hart Research Associates for the Nasdaq Stock Market revealed that 43% of all American adults are stockholders. In addition, the study determined that 75% of all American adult stockholders have some college education. Suppose 37% of all American adults have some college
According to the Consumer Electronics Manufacturers Association, 10% of all U.S. households have a fax machine and 52% have a personal computer. Suppose 91% of all U.S. households having a fax machine have a personal computer. A U.S. household is randomly selected.a. What is the probability that
A study by Becker Associates, a San Diego travel consultant, found that 30% of the traveling public said that their flight selections are influenced by perceptions of airline safety. Thirty-nine percent of the traveling public wants to know the age of the aircraft. Suppose 87% of the traveling
The U.S. Energy Department states that 60% of all U.S. households have ceiling fans.In addition, 29% of all U.S. households have an outdoor grill. Suppose 13% of all U.S. households have both a ceiling fan and an outdoor grill. A U.S. household is randomly selected.a. What is the probability that
Use the values in the contingency table to solve the equations given.a. P(G|A) = ___________b. P(B|F) = ___________c. P(C|E) = ___________d. P(E|G) =___________

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