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Business Statistics In Practice 6th Edition Bruce Bowerman, Richard O'Connell - Solutions

a. Construct a relative frequency distribution and a percent frequency distribution for the bottle design ratings.b. Construct a cumulative frequency distribution and a cumulative percent frequency distribution.c. Draw a frequency ogive for the bottle design ratings.
Table 2.11 gives the 25 most powerful celebrities and their annual pay as ranked by the editors of Forbes magazine and as listed on the Forbes.com website on June 14, 2011.a. Develop a frequency distribution for the celebrity pay data and draw a histogram.b. Develop a cumulative frequency
Recall that Table 1.7 presents the satisfaction ratings for the XYZ-Box video game system that have been given by 65 randomly selected purchasers. Figure 2.15 gives the Excel output of a histogram of these satisfaction ratings.a. Describe where the satisfaction ratings seem to be concentrated.b.
Recall that Table 1.8 presents the waiting times for teller service during peak business hours of 100 randomly selected bank customers. Figure 2.16 gives the MINITAB output of a histogram of these waiting times that has been constructed using automatic classes.a. Describe where the waiting times
Recall that Table 1.9 presents the breaking strengths of 40 trash bags selected during a 40-hour pilot production run.Figure 2.17 gives a percent frequency histogram of these breaking strengths. a. Describe where the breaking strengths seem to be concentrated. b. Describe and interpret the shape of
Table 2.12 gives the franchise value and 2010 revenues for each of the 30 teams in Major League Baseball as reported by Forbes magazine and as listed on the Forbes.com website on June 14, 2011.a. Develop a frequency distribution and a frequency histogram for the 30 team values. Then describe the
Table 2.13 gives America's top 40 best small companies of 2010 as rated on the Forbes.com website on June 14, 2011.a. Develop a frequency distribution and a frequency histogram for the sales values. Describe the distribution of these sales values.b. Develop a percent frequency histogram for the
The following data consist of the number of students who were absent in a professor's statistics class each day during the last month.Construct a dot plot of these data, and then describe the distribution of absences.
The following are the revenue growth rates for 30 fast-growing companies.Develop a dot plot for these data and describe the distribution of revenue growth rates.
The yearly home run totals for Babe Ruth during his career as a New York Yankee are as follows (the totals are arranged in increasing order): 22, 25, 34, 35, 41, 41, 46, 46, 46, 47, 49, 54, 54, 59, 60. Construct a dot plot for these data and then describe the distribution of home run totals.
The following data consist of the revenue growth rates (in percent) for a group of 20 firms.Construct a stem-and-leaf display for these data.
The following data consist of the profit margins (in percent) for a group of 20 firms.Construct a stem-and-leaf display for these data.
The following data consist of the sales figures (in millions of dollars) for a group of 20 firms.Construct a stem-and-leaf display for these data. Use a leaf unit equal to 100.
Figure 2.21 gives stem-and-leaf displays of the payment times in Table 2.4 and of the bottle design ratings in Table 1.5. Describe the shapes of the two displays.a. Use the stem-and-leaf display to describe the distribution of revenue growth rates.b. Write out the 30 observed revenue growth rates.
Babe Ruth's record of 60 home runs in a single year was broken by Roger Maris, who hit 61 home runs in 1961. The yearly home run totals for Ruth in his career as a New York Yankee are (arranged in increasing order) 22, 25, 34, 35, 41, 41, 46, 46, 46, 47, 49, 54, 54, 59, and 60. The yearly home run
A multiple choice question on an exam has four possible responses-(a), (b), (c), and (d). When 250 students take the exam, 100 give response (a), 25 give response (b), 75 give response (c), and 50 give response (d).a. Write out the frequency distribution, relative frequency distribution, and
Table 2.15 reproduces the 100 waiting times for teller service that were originally given in Table 1.8.a. Construct a stem-and-leaf display of the waiting times.b. Describe the distribution of the waiting times.
Recall that 65 purchasers have participated in a survey and have rated the XYZ-Box video game system.The composite ratings that have been obtained are as follows:a. Construct a stem-and-leaf display for the 65 composite ratings. Hint: Each whole number rating can be written with an "implied tenth
Explain how to compute (1) the row percentages for a contingency table, and (2) the column percentages. What information is provided by the row percentages in a particular row of the table? What information is provided by the column percentages in a particular column of the table?
Construct a contingency table using cola preference (Rola or Koka) as the row variable and Rola-Cola purchase history (Yes or No) as the column variable. Based on the table, answer the following.a. How many shoppers who preferred Rola-Cola in the blind taste test had previously purchased
Construct a contingency table using cola preference (Rola or Koka) as the row variable and sweetness preference (very sweet, sweet, or not so sweet) as the column variable. Based on the table, answer the following:a. How many shoppers who preferred Rola-Cola in the blind taste test said that they
Construct a contingency table using cola preference (Rola or Koka) as the row variable and the number of 12-packs consumed in a typical month (categories 0 through 5, 6 through 10, and more than 10) as the column variable. Based on the table, answer the following:a. How many shoppers who preferred
A marketing research firm wishes to study the relationship between wine consumption and whether a person likes to watch professional tennis on television. One hundred randomly selected people are asked whether they drink wine and whether they watch tennis. The following results are obtained:a. What
In a survey of 1,000 randomly selected U.S. citizens aged 21 years or older, 721 believed that the amount of violent television programming had increased over the past 10 years, 454 believed that the overall quality of television programming had gotten worse over the past 10 years, and 362 believed
Consider constructing a pie chart for the exam question responses in Exercise 2.4. a. How many degrees (out of 360) would be assigned to the "pie slice" for the response (a)? b. How many degrees would be assigned to the "pie slice" for response (b)? c. Construct the pie chart for the exam question
As part of its study, Gallup investigated a possible relationship between tipping attitudes and income. Using the poll results, the following row percentages can be obtained for three income ranges-less than $30,000; $30,000 through $74,999; and $75,000 or more.a. Construct a percentage bar chart
Gallup also asked survey participants if they have ever eaten at a restaurant and left no tip at all because of poor service. Almost half (46 percent) of those surveyed said they have done so.Because it seems that whether or not a person has left a restaurant without tipping might be related to a
A real estate agency collects data concerning y = the sales price of a house (in thousands of dollars), and x = the home size (in hundreds of square feet). The data are given in Table 2.21.Construct a scatter plot of y versus x and interpret what the plot says.
Figure 2.29 gives a time series plot of the average U.S. monthly pay cable TV rate (for premium services) for each year from 1975 to 2005. Figure 2.29 also gives a time series plot of the average monthly non-cable (mostly satellite) TV rate (for premium services) for each year from 1994 to 2005.5
Consider the partial relative frequency distribution of consumer preferences for four products-W, X, Y, and Z-that is shown in the page margin.a. Find the relative frequency for product X.b. If 500 consumers were surveyed, give the frequency distribution for these data.c. Construct a percent
Figure 2.30 gives a scatter plot of the number of units sold, y, of 20 varieties of a canned soup versus the amount of shelf space, x, allocated to each variety. Do you think that sales are affected by the amount of allocated shelf space, or vice versa?
Figure 2.31 presents the ratings given by 406 randomly selected individuals of six fast food restaurants on the basis of taste, convenience, familiarity, and price. The data were collected by researchers at The Ohio State University in the early 1990s. Here, 1 is the best rating and 6 the worst. In
In the article "How to Display Data Badly" in the May 1984 issue of The American Statistician, Howard Wainer presents a stacked bar chart of the number of public and private elementary schools (1929 - 1970). This bar chart is given in Figure 2.36. Wainer also gives a line graph of the number of
Develop a frequency distribution of the overall mechanical quality ratings. Describe the distribution. Discuss.
Develop a relative frequency distribution of the overall design quality ratings. Describe the distribution. Discuss.
Construct a percentage bar chart of the overall mechanical quality ratings for each of the following: automobiles of United States origin; automobiles of Pacific Rim origin (Japan/Korea); and automobiles of European origin (Germany/Great Britain/Sweden). Compare the three distributions in a written
Below we give the overall dining experience ratings (Outstanding, Very Good, Good, Average, or Poor) of 30 randomly selected patrons at a restaurant on a Saturday evening.a. Find the frequency distribution and relative frequency distribution for these data.b. Construct a percentage bar chart for
Construct a percentage pie chart of the overall design quality ratings for each of the following: automobiles of United States origin; automobiles of Pacific Rim origin (Japan/Korea); and automobiles of European origin (Germany/Great Britain/Sweden). Compare the three distributions in a written
Construct a contingency table of automobile origin versus overall mechanical quality rating. Set up rows corresponding to the United States, the Pacific Rim (Japan/Korea), and Europe (Germany/Great Britain/Sweden), and set up columns corresponding to the ratings "among the best" through "the rest."
Develop a table of row percentages for the contingency table you set up in Exercise 2.71. Using these row percentages, construct a percentage frequency distribution of overall mechanical quality rating for each of the United States, the Pacific Rim, and Europe. Illustrate these three frequency
Construct a contingency table of automobile origin versus overall design quality rating. Set up rows corresponding to the United States, the Pacific Rim (Japan/Korea), and Europe (Germany/Great Britain/Sweden), and set up columns corresponding to the ratings "among the best" through "the rest."
Develop a table of row percentages for the contingency table you set up in Exercise 2.73. Using these row percentages, construct a percentage frequency distribution of overall design quality rating for each of the United States, the Pacific Rim, and Europe. Illustrate these three frequency
Consider constructing a frequency distribution and histogram for the perceived age estimates.a. How many classes should be used for the frequency distribution and histogram?b. Develop a frequency distribution, a relative frequency distribution, and a percent frequency distribution for the perceived
Construct a frequency polygon of the perceived age estimates.
Construct a dot plot of the perceived age estimates and describe the shape of the distribution. What percentage of the perceived ages are below the industry's code provision of 25 years old? Do you think that this percentage is too high?
Develop a stem-and-leaf display of the revenue growth percentages for the 30 fastest-growing companies and describe the shape of the distribution.
Fifty randomly selected adults who follow professional sports were asked to name their favorite professional sports league. The results are as follows where MLB = Major League Baseball, MLS = Major League Soccer, NBA = National Basketball Association, NFL = National Football League, and NHL =
Develop a frequency distribution and a frequency histogram of the EPS (earnings per share) growth percentages. Then describe the shape of the distribution.
Construct a percent frequency polygon of the total return percentages and then describe the shape of the distribution.
Construct cumulative frequency and cumulative relative frequency distributions of the EPS (earnings per share) growth percentages. Then construct a relative frequency ogive of these percentages.
Construct a dot plot of the total return percentages for the 30 fastest-growing companies and describe the distribution of return percentages.
In this exercise we consider how to deal with class lengths that are unequal (and with open-ended classes) when setting up histograms. Often data are published in this form and we wish to construct a histogram. An example is provided by data concerning the benefits of ISO 9000 registration
A basketball player practices free throws by taking 25 shots each day, and he records the number of shots missed each day in order to track his progress. The numbers of shots missed on days 1 through 30 are. respectively, 17, 15, 16, 18, 14, 15, 13, 12, 10, 11, 11, 10, 9, 10, 9, 9, 9, 10, 8, 10, 6.
In the Fall 1993 issue of VALIC Investment Digest, the Variable Annuity Life Insurance Company used pie charts to illustrate an investment strategy called rebalancing. This strategy involves reviewing an investment portfolio annually to return the asset mix (stocks, bonds. Treasury bills, and so
a. On March 11, 2005, the Gallup Organization released the results of a CNN/USA Today/Gallup national poll regarding Internet usage in the United States. Each of 1,008 randomly selected adults was asked to respond to the following question:As you may know, there are Web sites known as "blogs" or
Explain the difference between each of the following:a. A population parameter and its point estimate.b. A population mean and a corresponding sample mean.
Define the range, variance, and standard deviation for a population. Discuss.
Consider the following population of five numbers: 5, 8, 10, 12, 15. Calculate the range, variance, and standard deviation of this population.
Table 3.4 gives the percentage of homes sold during the fourth quarter of 2006 that a median income household could afford to purchase at the prevailing mortgage interest rate for six Texas metropolitan areas. The data were compiled by the National Association of Home Builders. Calculate the range,
Table 3.5 gives data concerning the top 10 U.S. airlines (ranked by revenue) as listed on the Fortune magazine website on April 27. 2007. a. Calculate the population range, variance, and standard deviation of the 10 revenues and of the 10 profits (note that negative values are losses rather than
In order to control costs, a company wishes to study the amount of money its sales force spends entertaining clients. The following is a random sample of six entertainment expenses (dinner costs for four people) from expense reports submitted by members of the sales force.$157 $132 $109 $145 $125
The mean and the standard deviation of the sample of 40 trash bag breaking strengths are and = 50.575 and s = 1.6438.a. What does the histogram in Figure 2.17 say about whether the Empirical Rule should be used to describe the trash bag breaking strengths?b. Use the Empirical Rule to calculate
The mean and the standard deviation of the sample of 100 bank customer waiting times are and = 42.95 and s = 2.475.a. What does the histogram in Figure 2.16 say about whether the Empirical Rule should be used to describe the bank customer waiting times?b. Use the Empirical Rule to calculate
The mean and the standard deviation of the sample of 65 customer satisfaction ratings are and = 42.95 and s = 2.6424.a. What does the histogram in Figure 2.15 say about whether the Empirical Rule should be used to describe the satisfaction ratings?b. Use the Empirical Rule to calculate estimates of
Consider the 63 automatic teller machine (ATM) transaction times given in Table 3.6 above. a. Construct a histogram (or a stem-and-leaf display) for the 63 ATM transaction times. Describe the shape of the distribution of transaction times. b. When we compute the sample mean and sample standard
The Morningstar Top Fund lists at the Morningstar.com website give the mean yearly return and the standard deviation of the returns for each of the listed funds. As given by Morningstar.com on March 17, 2005, the RS Internet Age Fund has a mean yearly return of 10.93 percent with a standard
Explain each of the following in your own words: a percentile; the first quartile, Q1; the third quartile, Q3; and the inter quartile range, IQR.
Calculate the mean, median, and mode of each of the following populations of numbers:a. 9, 8, 10, 10, 12, 6, 11, 10, 12, 8b. 110, 120, 70, 90, 90, 100, 80, 130, 140
Thirteen internists in the Midwest are randomly selected, and each internist is asked to report last year's income. The incomes obtained (in thousands of dollars) are 152, 144, 162, 154, 146, 241, 127, 141, 171, 177, 138, 132, 192. Find:a. The 90th percentile.b. The median.c. The first quartile.d.
In the book Business Research Methods, Donald R. Cooper and C. William Emory present box-and-whiskers plots comparing the net profits of firms in five different industry sectors. Each plot (for a sector) was constructed using net profit figures for a sample of firms from the Forbes 500s. Figure
In this section we have presented a commonly accepted way to compute the first, second, and third quartiles. Some statisticians, however, advocate an alternative method for computing Q1 and Q2 This method defines the first quartile, Q3, as what is called the lower hinge and defines the third
Below we give the average hourly outdoor temperature (x) in a city during a week and the city's natural gas consumption (y) during the week for each of eight weeks (the temperature readings are expressed in degrees Fahrenheit and the natural gas consumptions are expressed in millions of cubic feet
Accu-Copiers, Inc., sells and services the Accu-500 copying machine. As part of its standard service contract, the company agrees to perform routine service on this copier. To obtain information about the time it takes to perform routine service, Accu-Copiers has collected data for 11 service
Calculate the mean, median, and mode for each of the following populations of numbers:a. 17, 23, 19, 20, 25, 18, 22, 15, 21, 20b. 505, 497, 501, 500, 507, 510, 501
According to the Morningstar.com website, the 2004 total return percentages for several popular funds were as follows: 2004 Fund Total Return % Vanguard 500 Index...................10.7 Wasatch Core Growth .................21.7 Fidelity Stock Selector..................9.9 Fidelity Dividend
The following are the January 2005 unemployment rates and civilian labor force sizes for five states in the Midwest.a. Using a weighted mean, compute an average unemployment rate for the five state region. b. Calculate the unweighted mean for the five unemployment rates. Explain why the weighted
The following frequency distribution summarizes the weights of 195 fish caught by anglers participating in a professional bass fishing tournament.Weight
The following is a frequency distribution summarizing earnings per share (EPS) growth data for the 30 fastest-growing firms as given on Fortune magazine's website on March 16, 2005. EPS
The Data and Story Library website (a website devoted to applications of statistics) gives a histogram of the ages of a sample of 60 CEOs. We present the data in the form of a frequency distribution below.Age
Recall that Table 1.7 (page 13) presents the satisfaction ratings for the XYZ-Box game system that have been given by 65 randomly selected purchasers. Figures 3.8 and 3.11(a) give the MINITAB and Excel outputs of statistics describing the 65 satisfaction ratings.a. Find the sample mean on the
Suppose that a company's sales were $5,000,000 three years ago. Since that time sales have grown at annual rates of 10 percent, - 10 percent, and 25 percent. a. Find the geometric mean growth rate of sales over this three-year period. b. Find the ending value of sales after this three-year period.
Suppose that a company's sales were $1,000,000 four years ago and are $4,000,000 at the end of the four years. Find the geometric mean growth rate of sales.
The Standard & Poor's 500 stock index is a commonly used measure of stock market performance in the United States. In the table below, we give the value of the S&P 500 index on the first day of market trading for each year from 2000 to 2005.YearS&P 500
According to the USA Statistics in Brief summary of U.S. census data, the amount of consumer credit outstanding (in billions of dollars) is as follows:a. Find the geometric mean five-year rate of increase in consumer credit outstanding,b. Use the geometric mean rate of increase to project the
In the book Modern Statistical Quality Control and Improvement. Nicholas R. Farnum presents data concerning the elapsed times from the completion of medical lab tests until the results are recorded on patients' charts. Table 3.10 gives the times it took (in hours) to deliver and chart the results
The Fall 1995 issue of Investment Digest, a publication of The Variable Annuity Life Insurance Company of Houston, Texas, discusses the importance of portfolio diversification for long-term investors. The article states:While it is true that investment experts generally advise long-term investors
In Florida, real estate agents refer to homes having a swimming pool as pool homes. In this case, Sunshine Pools Inc. markets and installs pools throughout the state of Florida. The company wishes to estimate the percentage of a pool's cost that can be recouped by a buyer when he or she sells the
Recall that Table 1.8 presents the waiting times for teller service during peak business hours of 100 randomly selected bank customers. Figures 3.9 and 3.11(b) give the MINITAB and Excel outputs of statistics describing the 100 waiting times.a. Find the sample mean on the outputs. Does the sample
Consider the trash bag problem. Suppose that an independent laboratory has tested 30-gallon trash bags and has found that none of the 30-gallon bags currently on the market has a mean breaking strength of 50 pounds or more. On the basis of these results, the producer of the new, improved trash bag
1. Analyze the data concerning voters in Table 3.2 as described below.2. Analyze the data concerning income tax rates in Table 3.2 as described below.3. Analyze the data concerning video rentals in Table 3.2 as described below.4. Analyze the data concerning PCs in Table 3.2 as described below.5.
Define the following terms: experiment, event, probability, sample space.
Consider a standard deck of 52 playing cards, a randomly selected card from the deck, and the following events: R = red B = black A = ace N = nine D = diamond club a. Describe the sample space outcomes that correspond to each of these events. b. For each of the following pairs of events,
Of 10,000 students at a college, 2,500 have a Mastercard (M). 4,000 have a VISA (V), and 1,000 have both.a. Find the probability that a randomly selected student(1) Has a Mastercard.(2) Has a VISA.(3) Has both credit cards.b. Construct and fill in a contingency table summarizing the credit card
The card game of Euchre employs a deck that consists of all four of each of the aces, kings, queens, jacks, tens, and nines (one of each suit-clubs, diamonds, spades, and hearts). Find the probability that a randomly selected card from a Euchre deck is a. A jack (J). b. A spade (5). c. A jack or an
Each month a brokerage house studies various companies and rates each company's stock as being either "low risk" or "moderate to high risk." In a recent report, the brokerage house summarized its findings about 15 aerospace companies and 25 food retailers in the following table:If we randomly
In the book Essentials of Marketing Research,William R. Dillon, Thomas J. Madden, and Neil H. Firtle present the results of a concept study for a new wine cooler. Three hundred consumers between 21 and 49 years old were randomly selected. After sampling the new beverage, each was asked to rate the
Using the information in Figure 4.3 (page 162), find an estimate of the probability that a randomly selected Los Angeles resident (12 years or older) would a. Name one of the top three rated stations (KPWR. KLAX, or KROQ) as the station that he or she listens to most. b. Not name one of the top
Recall from Exercise 4.13 (page 170) that each month a brokerage house studies various companies and rates each company's stock as being either "low risk" or "moderate to high risk." In a recent report, the brokerage house summarized its findings about 15 aerospace companies and 25 food retailers
John and Jane are married. The probability that John watches a certain television show is .4. The probability that Jane watches the show is .5. The probability that John watches the show, given that Jane does, is .7. a. Find the probability that both John and Jane watch the show. b. Find the
In the July 29, 2001 issue of the Journal News (Hamilton, Ohio), Lynn Elber of the Associated Press reported that "while 40 percent of American families own a television set with a V-chip installed to block designated programs with sex and violence, only 17 percent of those parents use the

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