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Statistical Techniques In Business And Economics 16th Edition Douglas Lind, William Marchal - Solutions

A study of 20 worldwide financial institutions showed the correlation between their assets and pretax profit to be .86. At the .05 significance level, can we conclude that there is positive correlation in the population?
The Airline Passenger Association studied the relationship between the number of passengers on a particular flight and the cost of the flight. It seems logical that more passengers on the flight will result in more weight and more luggage which in turn will result in higher fuel costs. For a sample
Refer to Exercise 5. Assume the dependent variable is number of crimes.a. Determine the regression equation.b. Estimate the number of crimes for a city with 20 police officers.c. Interpret the regression equation.
Refer to Exercise 6.a. Determine the regression equation.b. Estimate the selling price of a 10-year-old car.c. Interpret the regression equation.
Refer to Exercise 5. The regression equation is yˆ = 29.29 – 0.96x, the sample size is 8, and the standard error of the slope is 0.22. Use the .05 significance level. Can we conclude that the slope of the regression line is less than zero?
Refer to Exercise 6. The regression equation is yˆ = 11.18 – 0.49x, the sample size is 12, and the standard error of the slope is 0.23. Use the .05 significance level. Can we conclude that the slope of the regression line is less than zero?
Refer to Exercise 17. The regression equation is yˆ = 1.85 + .08x, the sample size is 12, and the standard error of the slope is 0.03. Use the .05 significance level. Can we conclude that the slope of the regression line is different from zero?
Refer to Exercise 18. The regression equation is yˆ = 9.9198 - 0.00039x, the sample size is 9, and the standard error of the slope is 0.0032. Use the .05 significance level. Can we conclude that the slope of the regression line is less than zero?
Refer to Exercise. Determine the standard error of estimate and the coefficient of determination. Interpret the coefficient of determination.
Refer to Exercise. Determine the standard error of estimate and the coefficient of determination. Interpret the coefficient of determination. Discuss.
Refer to Exercise. Determine the standard error of estimate and the coefficient of determination. Interpret the coefficient of determination. Discuss in detail.
Refer to Exercise. Determine the standard error of estimate and the coefficient of determination. Interpret the coefficient of determination. Discuss briefly.
Given the following ANOVA table:a. Determine the coefficient of determination.b. Assuming a direct relationship between the variables, what is the correlation coefficient?c. Determine the standard error ofestimate.
On the first statistics exam, the coefficient of determination between the hours studied and the grade earned was 80%. The standard error of estimate was 10. There were 20 students in the class. Develop an ANOVA table for the regression analysis of hours studied as a predictor of the grade earned
Refer to Exercise 13.a. Determine the .95 confidence interval for the mean predicted when x = 7.b. Determine the .95 prediction interval for an individual predicted when x = 7.
Refer to Exercise 14.a. Determine the .95 confidence interval for the mean predicted when x = 7.b. Determine the .95 prediction interval for an individual predicted when x = 7.
Refer to Exercise 15.a. Determine the .95 confidence interval, in thousands of kilowatt-hours, for the mean of all six-room homes.b. Determine the .95 prediction interval, in thousands of kilowatt-hours, for a particular six-room home.
Refer to Exercise 16.a. Determine the .95 confidence interval, in thousands of dollars, for the mean of all sales personnel who make 40 contacts.b. Determine the .95 prediction interval, in thousands of dollars, for a particular salesperson who makes 40 contacts.
A regional commuter airline selected a random sample of 25 flights and found that the correlation between the number of passengers and the total weight, in pounds, of luggage stored in the luggage compartment is 0.94. Using the .05 significance level, can we conclude that there is a positive
A sociologist claims that the success of students in college (measured by their GPA) is related to their family’s income. For a sample of 20 students, the correlation coefficient is 0.40. Using the 0.01 significance level, can we conclude that there is a positive correlation between the variables?
For a sample of 32 large U.S. cities, the correlation between the mean number of square feet per office worker and the mean monthly rental rate in the central business district is 2.363. At the .05 significance level, can we conclude that there is a negative association between the two variables?
The following regression equation was computed from a sample of 20 observations:yˆ = 15 – 5xSSE was found to be 100 and SS total, 400.a. Determine the standard error of estimate.b. Determine the coefficient of determination.c. Determine the correlation coefficient. (Caution: Watch the sign!)
A highway employee performed a regression analysis of the relationship between the number of construction work-zone fatalities and the number of unemployed people in a state. The regression equation is Fatalities 5 12.7 1 0.000114 (Unemp). Some additional output is:a. How many states were in the
A regression analysis relating the current market value in dollars to the size in square feet of homes in Greene County, Tennessee, follows. The regression equation is: Value 5 237,186 1 65.0 Size.a. How many homes were in the sample?b. Compute the standard error of estimate.c. Compute the
The director of marketing at Reeves Wholesale Products is studying monthly sales. Three independent variables were selected as estimators of sales: regional population, per capita income, and regional unemployment rate. The regression equation was computed to be (in dollars):yˆ = 64,100 + 0.394x1
Thompson Photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualifications needed by an operator. Is age a factor? Is the length of service as an operator (in years) important? In order to explore further the
A consulting group was hired by the Human Resources Department at General Mills, Inc. to survey company employees regarding their degree of satisfaction with their quality of life. A special index, called the index of satisfaction, was used to measure satisfaction. Six factors were studied, namely,
Cellulon, a manufacturer of home insulation, wants to develop guidelines for builders and consumers on how the thickness of the insulation in the attic of a home and the outdoor temperature affect natural gas consumption. In the laboratory, it varied the insulation thickness and temperature. A few
A multiple regression equation yields the following partial results.a. What is the total sample size?b. How many independent variables are being considered?c. Compute the coefficient of determination.d. Compute the standard error of estimate.e. Test the hypothesis that none of the regression
In a multiple regression equation, two independent variables are considered, and the sample size is 25. The regression coefficients and the standard errors are as follows.b1 = 2.676 sb1 = 0.56b2 = 20.880 sb2 = 0.71Conduct a test of hypothesis to determine whether either independent variable has a
Consider the ANOVA table that follows.a. Determine the standard error of estimate. About 95% of the residuals will be between what two values?b. Determine the coefficient of multiple determination. Interpret this value.c. Determine the coefficient of multiple determination, adjusted for the degrees
Consider the ANOVA table that follows.a. Determine the standard error of estimate. About 95% of the residuals will be between what two values?b. Determine the coefficient of multiple determination. Interpret this value.c. Determine the coefficient of multiple determination, adjusted for the degrees
Given the following regression output,Answer the following questions:a. Write the regression equation.b. If x1 is 4 and x2 is 11, what is the expected or predicted value of the dependent variable?c. How large is the sample? How many independent variables are there?d. Conduct a global test of
The following regression output was obtained from a study of architectural firms. The dependent variable is the total amount of fees in millions of dollars.x1 is the number of architects employed by the company.x2 is the number of engineers employed by the company.x3 is the number of years involved
The production manager of High Point Sofa and Chair, a large furniture manufacturer located in North Carolina, is studying the job performance ratings of a sample of 15 electrical repairmen employed by the company. An aptitude test is required by the human resources department to become an
Cincinnati Paint Company sells quality brands of paints through hardware stores throughout the United States. The company maintains a large sales force whose job it is to call on existing customers as well as look for new business. The national sales manager is investigating the relationship
An art collector is studying the relationship between the selling price of a painting and two independent variables. The two independent variables are the number of bidders at the particular auction and the age of the painting, in years. A sample of 25 paintings revealed the following sample
A real estate developer wishes to study the relationship between the size of home a client will purchase (in square feet) and other variables. Possible independent variables include the family income, family size, whether there is a senior adult parent living with the family (1 for yes, 0 for no),
The following output was obtained.a. What is the sample size?b. Compute the value of R2.c. Compute the multiple standard error of estimate.d. Conduct a global test of hypothesis to determine whether any of the regression coefficients are significant. Use the .05 significance level.e. Test the
In a multiple regression equation, k = 5 and n = 20, the MSE value is 5.10, and SS total is 519.68. At the .05 significance level, can we conclude that any of the regression coefficients are not equal to 0?
The district manager of Jasons, a large discount electronics chain, is investigating why certain stores in her region are performing better than others. She believes that three factors are related to total sales: the number of competitors in the region, the population in the surrounding area, and
Suppose that the sales manager of a large automotive parts distributor wants to estimate as early as April the total annual sales of a region. On the basis of regional sales, the total sales for the company can also be estimated. If, based on past experience, it is found that the April estimates of
The administrator of a new paralegal program at Seagate Technical College wants to estimate the grade point average in the new program. He thought that high school GPA, the verbal score on the Scholastic Aptitude Test (SAT), and the mathematics score on the SAT would be good predictors of paralegal
Mike Wilde is president of the teachersâ€™ union for Otsego School District. In preparing for upcoming negotiations, he would like to investigate the salary structure of classroom teachers in the district. He believes there are three factors that affect a teacherâ€™s salary: years of
A consumer analyst collected the following data on the screen sizes of popular LCD televisions sold recently at a large retailer:a. Does there appear to be a linear relationship between the screen size and the price?b. Which variable is the €œdependent€ variable?c. Using
A regional planner is studying the demographics in a region of a particular state. She has gathered the following data on nine counties.a. Is there a linear relationship between the median income and median age?b. Which variable is the â€œdependentâ€ variable?c. Use statistical software to
Great Plains Roofing and Siding Company Inc. sells roofing and siding products to home repair retailers, such as Loweâ€™s and Home Depot, and commercial contractors. The owner is interested in studying the effects of several variables on the value of shingles sold ($000). The marketing manager
The Times-Observer is a daily newspaper in Metro City. Like many city newspapers, the Times-Observer is suffering through difficult financial times. The circulation manager is studying other newspapers in similar cities in the United States and Canada. She is particularly interested in what
Fred G. Hire is the manager of human resources at Crescent Tool and Die Inc. As part of his yearly report to the CEO, he is required to present an analysis of the salaried employees. Because there are over 1,000 employees, he does not have the staff to gather information on each salaried employee,
Many regions along the coast in North and South Carolina and Georgia have experienced rapid population growth over the last 10 years. It is expected that the growth will continue over the next 10 years. This has motivated many of the large grocery store chains to build new stores in the region. The
An investment advisor is studying the relationship between a common stockâ€™s price to earnings (P/E) ratio and factors that she thinks would influence it. She has the following data on the earnings per share (EPS) and the dividend percentage (Yield) for a sample of 20 stocks.a. Develop a
The Conch CafÃ©, located in Gulf Shores, Alabama, features casual lunches with a great view of the Gulf of Mexico. To accommodate the increase in business during the summer vacation season, Fuzzy Conch, the owner, hires a large number of servers as seasonal help. When he interviews a prospective
The president of Blitz Sales Enterprises sells kitchen products through television commercials, often called infomercials. He gathered data from the last 15 weeks of sales to determine the relationship between sales and the number of infomercials.a. Determine the regression equation. Are the sales
The director of special events for Sun City believed that the amount of money spent on fireworks displays on the 4th of July was predictive of attendance at the Fall Festival held in October. She gathered the following data to test her suspicion.Determine the regression equation. Is the amount
You are a new hire at Laurel Woods Real Estate, which specializes in selling foreclosed homes via public auction. Your boss has asked you to use the following data (mortgage balance, monthly payments, payments made before default, and final auction price) on a random sample of recent sales in order
Think about the figures from the previous exercise. Add a new variable that describes the potential interaction between the loan amount and the number of payments made. Then do a test of hypothesis to check if the interaction is significant.
Refer to the Real Estate data, which report information on homes sold in Goodyear, Arizona. Use the selling price of the home as the dependent variable and determine the regression equation with number of bedrooms, size of the house, center of the city, and number of bathrooms as independent
Refer to the Baseball 2012 data, which report information on the 30 Major League Baseball teams for the 2012 season. Let the number of games won be the dependent variable and the following variables be independent variables: team batting average, number of stolen bases, number of errors committed,
Refer to the Buena School District bus data. First, add a variable to change the type of bus (diesel or gasoline) to a qualitative variable. If the bus type is diesel, then set the qualitative variable to 0. If the bus type is gasoline, then set the qualitative variable to 1. Develop a regression
The accounting department at Box and Go Apparel wishes to estimate the net profit for each of the chainâ€™s many stores on the basis of the number of employees in the store, overhead costs, average markup, and theft loss. A few statistics from the stores are:a. The dependent variable is
Quick-print firms in a large downtown business area spend most of their advertising dollars on displays on bus benches. A research project involves predicting monthly sales based on the annual amount spent on placing ads on bus benches. A sample of quick-print firms revealed these advertising
The following ANOVA output is given.a. Compute the coefficient of determination.b. Compute the multiple standard error of estimate.c. Conduct a test of hypothesis to determine whether any of the regression coefficients are different from zero.d. Conduct a test of hypothesis on the individual
Refer to the Century National Bank data. Using checking account balance as the dependent variable and using as independent variables the number of ATM transactions, the number of other services used, whether the individual has a debit card, and whether interest is paid on the particular account,
Terry and Associates is a specialized medical testing center in Denver, Colorado. One of the firmâ€™s major sources of revenue is a kit used to test for elevated amounts of lead in the blood. Workers in auto body shops, those in the lawn care industry, and commercial house painters are exposed
The following hypotheses are given.H0: π ≤ .70H1: π > .70A sample of 100 observations revealed that ρ = .75. At the .05 significance level, can the null hypothesis be rejected?a. State the decision rule.b. Compute the value of the test statistic.c. What is your decision regarding the null
The following hypotheses are given.H0: π = .70H1: π ≠ .70A sample of 120 observations revealed that ρ = .30. At the .05 significance level, can the null hypothesis be rejected?a. State the decision rule.b. Compute the value of the test statistic.c. What is your decision regarding the null
The null and alternate hypotheses are:H0: π1 ≤ π2H1: π1 > π2A sample of 100 observations from the first population indicated that X1 is 70. A sample of 150 observations from the second population revealed X2 to be 90. Use the .05 significance level to test the hypothesis.a. State the
The null and alternate hypotheses are:H0: π1 = π2H1: π1 ≠ π2A sample of 200 observations from the first population indicated that x1 is 170. A sample of 150 observations from the second population revealed x2 to be 110. Use the .05 significance level to test the hypothesis.a. State the
The null hypothesis and the alternate hypothesis are:H0: The frequencies are equal.H1: The frequencies are not equal.Category foA .........10B .........20C .........30a. State the decision rule, using the .05 significance level.b. Compute the value of chi-square.c. What is your decision regarding
The null hypothesis and the alternate hypothesis are:H0: The frequencies are equal.H1: The frequencies are not equal.Category foA .........10B .........20C .........30D .........20a. State the decision rule, using the .05 significance level.b. Compute the value of chi-square.c. What is your
A six-sided die is rolled 30 times and the numbers 1 through 6 appear as shown in the following frequency distribution. At the .10 significance level, can we conclude that the die isfair?
Classic Golf Inc. manages five courses in the Jacksonville, Florida, area. The director of golf wishes to study the number of rounds of golf played per weekday at the five courses. He gathered the following sample information. At the .05 significance level, is there a difference in the number of
A group of department store buyers viewed a new line of dresses and gave their opinions of them. The results were:Because the largest number (47) indicated the new line is outstanding, the head designer thinks that this is a mandate to go into mass production of the dresses. The head sweeper (who
The safety director of a large steel mill took samples at random from company records of minor work-related accidents and classified them according to the time the accident took place.Using the goodness-of-fit test and the .01 level of significance, determine whether the accidents are evenly
The following hypotheses are given:H0: Forty percent of the observations are in category A, 40% are in B, and 20% are in C.H1: The distribution of the observations is not as described in H0.We took a sample of 60, with the results below.Category foA ........... 30B ........... 20C ........... 10a.
The chief of security for Mall of the Dakotas was directed to study the problem of missing goods. He selected a sample of 100 boxes that had been tampered with and ascertained that, for 60 of the boxes, the missing pants, shoes, and so on were attributed to shoplifting. For 30 other boxes,
The bank credit card department of Carolina Bank knows from experience that 5% of its card holders have had some high school, 15% have completed high school, 25% have had some college, and 55% have completed college. Of the 500 card holders whose cards have been called in for failure to pay their
For many years, TV executives used the guideline that 30% of the audience were watching each of the traditional big three prime-time networks and 10% were watching cable stations on a weekday night. A random sample of 500 viewers in the Tampa–St. Petersburg, Florida, area last Monday night showed
The director of advertising for the Carolina Sun Times, the largest newspaper in the Carolinas, is studying the relationship between the type of community in which a subscriber resides and the section of the newspaper he or she reads first. For a sample of readers, she collected the sample
Four brands of lightbulbs are being considered for use in the final assembly area of the Ford F-150 truck plant in Dearborn, Michigan. The director of purchasing asked for samples of 100 from each manufacturer. The numbers of acceptable and unacceptable bulbs from each manufacturer are shown below.
The quality control department at Food Town Inc., a grocery chain in upstate New York, conducts a monthly check on the comparison of scanned prices to posted prices. The chart below summarizes the results of a sample of 500 items last month. Company management would like to know whether there is
The use of cellular phones in automobiles has increased dramatically in the last few years. Of concern to traffic experts, as well as manufacturers of cellular phones, is the effect on accident rates. Is someone who is using a cellular phone more likely to be involved in a traffic accident? What is
Each month the National Association of Purchasing Managers surveys purchasing managers and publishes the NAPM index. One of the questions asked on the survey is: Do you think the economy is contracting? Last month, of the 300 responding managers, 160 answered yes to the question. This month, 170 of
As part of a recent survey among dual-wage-earner couples, an industrial psychologist found that 990 men out of the 1,500 surveyed believed the division of household duties was fair. A sample of 1,600 women found 970 believed the division of household duties was fair. At the .01 significance level,
There are two major cell phone providers in the Colorado Springs, Colorado, area, one called HTC and the other, Mountain Communications. We want to investigate whether there is a difference in the proportion of times a customer is able to successfully access the Internet. During a one-week period,
A study was conducted to determine if there was a difference in the humor content in British and American trade magazine advertisements. In an independent random sample of 270 American trade magazine advertisements, 56 were humorous. An independent random sample of 203 British trade magazines
The AP-Petside.com poll contacted 300 married women and 200 married men. All owned pets. One hundred of the women and 36 of the men replied that their pets are better listeners than their spouses. At the .05 significance level, is there a difference between the responses of women and men?
A study regarding the relationship between age and the amount of pressure sales personnel feel in relation to their jobs revealed the following sample information. At the .01 significance level, is there a relationship between job pressure andage?
The claims department at Wise Insurance Company believes that younger drivers have more accidents and, therefore, should be charged higher insurance rates. Investigating a sample of 1,200 Wise policyholders revealed the following breakdown on whether a claim had been filed in the last 3 years and
A sample of employees at a large chemical plant was asked to indicate a preference for one of three pension plans. The results are given in the following table. Does it seem that there is a relationship between the pension plan selected and the job classification of the employees? Use the .01
The National Safety Council reported that 52% of American turnpike drivers are men. A sample of 300 cars traveling southbound on the New Jersey Turnpike yesterday revealed that 170 were driven by men. At the .01 significance level, can we conclude that a larger proportion of men were driving on the
A recent article reported that a job awaits only one in three new college graduates. The major reasons given were an overabundance of college graduates and a weak economy. A survey of 200 recent graduates from your school revealed that 80 students had jobs. At the .01 significance level, can we
Chicken Delight claims that 90% of its orders are delivered within 10 minutes of the time the order is placed. A sample of 100 orders revealed that 82 were delivered within the promised time. At the .10 significance level, can we conclude that less than 90% of the orders are delivered in less than
Research at the University of Toledo indicates that 50% of students change their major area of study after their first year in a program. A random sample of 100 students in the College of Business revealed that 48 had changed their major area of study after their first year of the program. Has
The Damon family owns a large grape vineyard in western New York along Lake Erie. The grapevines must be sprayed at the beginning of the growing season to protect against various insects and diseases. Two new insecticides have just been marketed: Pernod 5 and Action. To test their effectiveness,
GfK Custom Research North America conducted identical surveys 5 years apart. One question asked of women was “Are most men basically kind, gentle, and thoughtful?” The earlier survey revealed that, of the 3,000 women surveyed, 2,010 said that they were. The later revealed 1,530 of the 3,000
A nationwide sample of influential Republicans and Democrats was asked as a part of a comprehensive survey whether they favored lowering environmental standards so that high-sulfur coal could be burned in coal-fired power plants. The results were:At the .02 level of significance, can we conclude
The research department at the home office of New Hampshire Insurance conducts on-going research on the causes of automobile accidents, the characteristics of the drivers, and so on. A random sample of 400 policies written on single persons revealed 120 had at least one accident in the previous
The IRS is interested in the number of individual tax forms prepared by small accounting firms. The IRS randomly sampled 50 public accounting firms with 10 or fewer employees in the Dallas–Fort Worth area. The following frequency table reports the results of the study. Assume the sample mean
Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency distribution showing the advertising expenditures for 60 manufacturing companies located in the Southwest. The mean expense is $52.0 million and the standard deviation is $11.32 million. Is it

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