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

Compute Laspeyresâ€™ price index for 2013 using 2000 as the baseperiod.
Compute Paascheâ€™s index for 2013 using 2000 as the baseperiod.
Determine a value index for 2013 using 2000 as the baseperiod.
Compute a simple price index for each of the three items. Use 2000 as the baseperiod.
Compute Laspeyresâ€™ price index for 2013 using 2000 as the baseperiod.
Compute Paascheâ€™s index for 2013 using 2000 as the baseperiod.
Determine a value index for 2013 using 2000 as the baseperiod.
Compute a simple price index for each of the four items. Use 2000 as the baseperiod.
Compute Laspeyresâ€™ price index for 2013 using 2000 as the baseperiod.
Compute Paascheâ€™s index for 2013 using 2000 as the baseperiod.
Determine a value index for 2013 using 2000 as the baseperiod.
Compute a simple price index for each of the four items. Use 1990 as the baseperiod.
Compute Laspeyresâ€™ price index for 2013 using 1990 as the baseperiod.
Compute Paascheâ€™s index for 2013 using 1990 as the baseperiod.
Determine a value index for 2013 using 1990 as the baseperiod.
A special-purpose index is to be designed to monitor the overall economy of the Southwest. Four key series were selected. After considerable deliberation, it was decided to weight retail sales 20%, total bank deposits 10%, industrial production in the area 40%, and nonagricultural employment 30%.
We are making a historical study of the American economy from 1950 to 1980. Data on prices, the labor force, productivity, and the GNP were collected. Note in the following table that the CPI has a base period of 1967 employment is in millions of persons, and so on. A direct comparison, therefore,
The management of Ingalls Super Discount stores, with several stores in the Oklahoma City area, wants to construct an index of economic activity for the metropolitan area. Management contends that, if the index reveals that the economy is slowing down, inventory should be kept at a low level.Three
Calculate a four-quarter weighted moving average for the number of shares outstanding for the Boxley Box Company for the nine quarters of data. The data are reported in thousands. Apply weights of .1, .2, .3, and .4, respectively, for the past three quarters and current quarter. In a few words,
Listed below is the number of movie tickets sold at the Library Cinema-Complex, in thousands, for the period from 2001 to 2013. Compute a five-year weighted moving average using weights of .1, .1, .2, .3, and .3, respectively. Describe the trend in yield.
Listed below is the number of rooms rented at Plantation Resorts of Georgia for the years from 2003 to 2013.Determine the least squares equation. According to this information, what is the estimated number of rentals for2014?
On the following page is the net sales in $ million for Home Depot Inc. and its subsidiaries from 1993 to 2012.Determine the least squares equation. On the basis of this information, what are the estimated sales for 2014 and2015?
The sales by Walkerâ€™s Milk and Dairy Products in millions of dollars for the period from 2007 to 2013 are reported in the following table.Determine the least squares regression trend equation. Estimate the sales for2015.
Sally’s Software Inc. is a rapidly growing supplier of computer software to the Sarasota area. Sales for the last 5 years, 2009 to 2013, are given below.SalesYear ($ millions)2009 .........1.12010 .........1.52011 .........2.02012 .........2.42013 .........3.1a. Determine the logarithmic trend
Victor Anderson, the owner of Anderson Belts Inc., is studying absenteeism among his employees. His workforce is small, consisting of only five employees. For the last 3 years, 2011 through 2013, he recorded the following number of employee absences, in days, for each quarter.Determine a typical
Appliance Center sells a variety of electronic equipment and home appliances. For the last 4 years, 2010 through 2013, the following quarterly sales (in $ millions) were reported.Determine a typical seasonal index for each of the fourquarters.
The planning department of Padget and Kure Shoes, the manufacturer of an exclusive brand of women€™s shoes, developed the following trend equation, in millions of pairs, based on 5 years of quarterly data.yË† = 3.30 + 1.75tThe following table gives the seasonal factors for each
Refer to Exercise 9 regarding the absences at Anderson Belts, Inc. Use the seasonal indexes you computed to determine the deseasonalized absences. Determine the linear trend equation based on the quarterly data for the 3 years. Forecast the seasonally adjusted absences for 2014.
Refer to Exercise 10, regarding sales at Appliance Center. Use the seasonal indexes you computed to determine the deseasonalized sales. Determine the linear trend equation based on the quarterly data for the 4 years. Forecast the seasonally adjusted sales for 2014.
Recall Exercise 9 from Chapter 14 and the regression equation to predict job performance.a. Plot the residuals in the order in which the data are presented.b. Test for autocorrelation at the .05 significance level.
Consider the data in Exercise 10 from Chapter 14 and the regression equation to predict commissions earned. a. Plot the residuals in the order in which the data are presented.b. Test for autocorrelation at the .01 significance level.
The asset turnovers, excluding cash and short-term investments, for RNC Company from 2004 to 2014 are:a. Plot the data.b. Determine the least squares trend equation.c. Calculate the points on the trend line for 2007 and 2012, and plot the line on the graph.d. Estimate the asset turnover for
The sales, in billions of dollars, of Keller Overhead Door Inc. for 2009 to 2014 are:a. Plot the data.b. Determine the least squares trend equation.c. Use the trend equation to calculate the points for 2011 and 2014. Plot them on the graph and draw the regression line.d. Estimate the net sales for
The number of employees, in thousands, of Keller Overhead Door Inc. for the years 2009 to 2014 are:a. Plot the data.b. Determine the least squares trend equation.c. Use the trend equation to calculate the points for 2011 and 2014. Plot them on the graph and draw the regression line.d. Estimate the
Listed below is the selling price for a share of PepsiCo Inc. at the close of each year from 1990 to 2012..:.a. Plot the data.b. Determine the least squares trend equation.c. Calculate the points for the years 1995 and 2000.d. Estimate the selling price in 2016. Does this seem like a reasonable
If plotted, the following sales series would appear curvilinear. This indicates that sales are increasing at a somewhat constant annual rate (percent). To fit the sales, therefore, a logarithmic equation should be used.a. Determine the logarithmic equation.b. Determine the coordinates of the points
Listed below is the selling price for a share of Oracle Inc. stock at the close of the year for 1990 through 2012.a. Plot the data.b. Determine the least squares trend equation. Use both the actual stock price and the logarithm of the price. Which seems to yield a more accurate forecast?c. Using
The production of Reliable Manufacturing Company for 2012 and part of 2013 follows.a. Using the ratio-to-moving-average method, determine the specific seasonals for July, August, and September 2012.b. Assume that the specific seasonal indexes in the following table are correct. Insert in the table
The sales of Andre€™s Boutique for 2012 and part of 2013 are:a. Using the ratio-to-moving-average method, determine the specific seasonals for July, August, September, and October 2012.b. Assume that the specific seasonals in the following table are correct. Insert in the table the
The quarterly production of pine lumber, in millions of board feet, by Northwest Lumber for 2010 through 2014 is:a. Determine the typical seasonal pattern for the production data using the ratio-to-moving-average method.b. Interpret the pattern.c. Deseasonalize the data and determine the linear
Work Gloves Corp. is reviewing its quarterly sales of Toughie, the most durable glove it produces. The numbers of pairs produced (in thousands) by quarter for 2009 through 2014 are:a. Using the ratio-to-moving-average method, determine the four typical quarterly indexes.b. Interpret the typical
Sales of roof material, by quarter, for 2007 through 2013, by Carolina Home Construction Inc. are shown below (in $000).a. Determine the typical seasonal patterns for sales using the ratio-to-moving-average method.b. Deseasonalize the data and determine the trend equation.c. Project sales for 2014
Blueberry Farms Golf and Fish Club of Hilton Head, South Carolina, wants to find monthly seasonal indexes for package play, nonpackage play, and total play. The package play refers to golfers who visit the area as part of a golf package. Typically, the greens fees, cart fees, lodging, maid service,
The following is the number of retirees receiving benefits from the State Teachers Retirement System of Ohio from 1991 until 2012.a. Plot the data.b. Determine the least squares trend equation. Use a linear equation.c. Calculate the points for the years 2000 and 2010.d. Estimate the number of
Ray Anderson, owner of Anderson Ski Lodge in upstate New York, is interested in forecasting the number of visitors for the upcoming year. The following data are available, by quarter, from the first quarter of 2007 to the fourth quarter of 2013. Develop a seasonal index for each quarter. How many
The enrollment in the College of Business at Midwestern University by quarter from 2009 to spring 2013 is:Using the ratio-to-moving-average method:a. Determine the four quarterly indexes.b. Interpret the quarterly pattern of enrollment. Does the seasonal variation surprise you?c. Compute the trend
On page 641 at the beginning of this chapter, we presented a graph showing the price per gallon of gasoline from 1990 until 2012. The actual data for each year are given below.Determine the trend line using both linear and nonlinear equations. Which would you suggest? Why? Based on your
Develop a trend equation for the net sales ($ million) for Home Depot. Consider both a linear trend and a nonlinear trend. Which one would you select and why? Given the trend equation you selected, forecast the net sales for 2014 and2015.
Consider the variable mean amount per transaction in the Home Depot data presented above. This variable indicates, for example, that the average customer spent $39.13 on goods during a store visit in 1993. By 2012 this amount increased to $54.89. During that same period the Consumer Price Index
Use the variables mean amount per transaction and number of associates to forecast net sales. Are these two independent variables reasonable predictors of net sales?Because all of these variables are associated with time, it may be that there is autocorrelation. Conduct the appropriate test of
Refer to the Baseball 2012 data, which include information on the 2012 Major League Baseball season. The data include the mean player salary since 1989. Plot the information and develop a linear trend equation. Write a brief report on your findings.
It appears that the imports of carbon black have been increasing by about 10% annually.a. Determine the logarithmic trend equation.b. By what percent did imports increase, on the average, during the period?c. Estimate imports for the year2016.
Refer to the following diagram.a. Estimate the linear trend equation for the production series by drawing a straight line through the data.b. What is the average annual decrease in production?c. Based on the trend equation, what is the forecast for the year2019?
Refer to the following diagram.a. Estimate the linear trend equation for the personal income series.b. What is the average annual increase in personalincome?
Reported below are the amounts spent on advertising ($ millions) by a large firm from 2004 to 2014.a. Determine the logarithmic trend equation.b. Estimate the advertising expenses for 2017.c. By what percent per year did advertising expense increase during theperiod?
Listed below are the net sales (in millions of euros) for the Adidas Group from 2008 to 2012.Year Net Sales2008 ........ 10,7992009 ........ 10,3812010 ........ 11,9902011 ........ 13,3322012 ........ 14,883a. Determine the index for 2012, using 2008 as the base period.b. Use the period 2008 to
The table below shows the unemployment rate and the available workforce for three counties in northwest Pennsylvania for May 2010 and April 2013.a. In May 2010, the national unemployment rate was 9.7%. For May 2010, compute a simple average unemployment index for the region using the national
Tom Sharkey is the owner of Sharkey Chevy, Buick, GMC. At the start of the year, Tom instituted a customer opinion program to find ways to improve service. The day after the service is performed, Tomâ€™s administrative assistant calls the customer to find out whether the service was performed
Refer to Exercise 7.a. On the basis of this initial experience, determine the control limits for the range. Plot the experience on a chart.b. Does there seem to be a time when there is too much variation in the temperature?
Below is a p-chart for a manufacturing process.a. What is the mean proportion defective? What are the upper and lower control limits?b. Are there any sample observations that indicate the process is out of control? Which sample numbers are they?c. Does there seem to be any trend in the process?
Inter State Moving and Storage Company is setting up a control chart to monitor the proportion of residential moves that result in written complaints due to late delivery, lost items, or damaged items. A sample of 50 moves is selected for each of the last 12 months. The number of written complaints
A bicycle manufacturer randomly selects 10 frames each day and tests for defects. The numbers of defective frames found over the last 14 days are 3, 2, 1, 3, 2, 2, 8, 2, 0, 3, 5, 2, 0, and 4. Construct a control chart for this process and comment on whether the process is “in control.”
During the process of producing toilet paper, Scott Paper randomly selects a toilet paper roll 5 times throughout the day and subjects each roll to a stress test to see how often the paper tears. Over a 3-day period, the testing of 15 rolls found the following number of defectives in each roll: 2,
Sam’s Supermarkets tests its checkout clerks by randomly examining the printout receipts for scanning errors. The following numbers are the number of errors on each receipt for October 27: 0, 1, 1, 0, 0, 1, 1, 0, 1, 1, 0. Construct a control chart for this process and comment on whether the
Dave Christi runs a car wash chain with outlets scattered throughout Chicago. He is concerned that some local managers are giving away free washes to their friends. He decides to collect data on the number of “voided” sales receipts. Of course, some of them are legitimate voids. Would the
At Rumsey’s Old Fashion Roast Beef, cola drinks are filled by an automatic machine whose operation is based on the weight of the drink. When the process is in control, the machine fills each cup so that the grand mean is 10.0 ounces and the mean range is 0.25 for samples of 5.a. Determine the
Charter National Bank has a staff of loan officers located in its branch offices throughout the Southwest. Robert Kerns, vice president of consumer lending, would like some information on the typical amount of loans and the range in the amount of the loans. A staff analyst of the vice president
Early Morning Delivery Service guarantees delivery of small packages by 10:30 a.m. Of course, some of the packages are not delivered by 10:30 a.m. For a sample of 200 packages delivered each of the last 15 working days, the following numbers of packages were delivered after the deadline: 9, 14, 2,
Steele Breakfast Foods Inc. produces a popular brand of raisin bran cereal. The package indicates it contains 25.0 ounces of cereal. To ensure the product quality, the Steele inspection department makes hourly checks on the production process. As a part of the hourly check, four boxes are selected
An investor believes there is a 50€“50 chance that a stock will increase on a particular day. To investigate this idea, for 30 consecutive trading days the investor selects a random sample of 50 stocks and counts the number that increase. The number of stocks in the sample that increased
Lahey Motors specializes in selling cars to buyers with a poor credit history. Listed below is the number of cars that were repossessed from Lahey customers because they did not meet the payment obligations over each of the last 36 months.Develop a c-bar chart for the number repossessed. Were there
Out of 110 diesel engines tested, a rework and repair facility found 9 had leaky water pumps, 15 had faulty cylinders, 4 had ignition problems, 52 had oil leaks, and 30 had cracked blocks. Draw a Pareto chart to identify the key problem in the engines.
Samples of size n = 4 are selected from a production line.a. What is the value of the A2 factor used to determine the upper and lower control limits for the mean?b. What are the values of the D3 and D4 factors used to determine the lower and upper control limits for the range?
A new industrial oven has just been installed at Piatt Bakery. To develop experience regarding the oven temperature, an inspector reads the temperature at four different places inside the oven each half hour starting at 8:00 a.m. The last reading was at 10:30 a.m., for a total of six samples. The
Determine the probability of accepting lots that are 10%, 20%, 30%, and 40% defective using a sample of size 12 and an acceptance number of 2.
Determine the probability of accepting lots that are 10%, 20%, 30%, and 40% defective using a sample of size 14 and an acceptance number of 3.
Warren Electric manufactures fuses for many customers. To ensure the quality of the out-going product, it tests 10 fuses each hour. If no more than one fuse is defective, it packages the fuses and prepares them for shipment. Develop an OC curve for this sampling plan. Compute the probabilities of
Grills Video Products purchases LCDs from Mira Electronics. According to his sampling plan, Art Grills, owner of Grills Video, will accept a shipment of LCDs if 3 or fewer are defective in a sample of 25. Develop an OC curve for these percents defective: 10%, 20%, 30%, and 40%. You will need a
The production supervisor at Westburg Electric Inc. noted an increase in the number of electric motors rejected at the time of final inspection. Of the last 200 motors rejected, 80 of the defects were due to poor wiring, 60 contained a short in the coil, 50 involved a defective plug, and 10
The manufacturer of running shoes conducted a study on its newly developed jogging shoe. Listed below are the type and frequency of the nonconformities and failures found.Develop a Pareto chart to show the major problemareas.
A new machine has just been installed to cut and rough-shape large slugs. The slugs are then transferred to a precision grinder. One of the critical measurements is the outside diameter. The quality control inspector randomly selected five slugs each half-hour, measured the outside diameter, and
Long Last Tire Company, as part of its inspection process, tests its tires for tread wear under simulated road conditions. Twenty samples of three tires each were selected from different shifts over the last month of operation. The tread wear is reported below in hundredths of an inch.a. Determine
The producer of a candy bar, called the €œKing James€ Bar, reports on the package that the calorie content is 420 per 2-ounce bar. A sample of five bars from each of the last 10 days is sent for a chemical analysis of the calorie content. The results are shown next. Does it
An automatic machine produces 5.0-millimeter bolts at a high rate of speed. A quality control program has been initiated to control the number of defectives. The quality control inspector selects 50 bolts at random and determines how many are defective. The numbers of defectives in the first 10
A process engineer is considering two sampling plans. In the first, a sample of 10 will be selected and the lot accepted if 3 or fewer are found defective. In the second, the sample size is 20 and the acceptance number is 5. Develop an OC curve for each. Compare the probability of acceptance for
Christina Sanders is a member of the womenâ€™s basketball team at Windy City College. Last season, she made 55% of her free throw attempts. In an effort to improve this statistic, she attended a summer camp devoted to foul-shooting techniques. The next 20 days she shot 100 foul shots a day.
Eric’s Cookie House sells chocolate chip cookies in shopping malls. Of concern is the number of chocolate chips in each cookie. Eric, the owner and president, would like to establish a control chart for the number of chocolate chips per cookie. He selects a sample of 15 cookies from today’s
The numbers of “near misses” recorded for the last 20 months at Lima International Airport are 3, 2, 3, 2, 2, 3, 5, 1, 2, 2, 4, 4, 2, 6, 3, 5, 2, 5, 1, and 3. Develop an appropriate control chart. Determine the mean number of misses per month and the limits on the number of misses per month.
The following numbers of robberies were reported during the last 10 days to the robbery division of the Metro City Police: 10, 8, 8, 7, 8, 5, 8, 5, 4, and 7. Develop an appropriate control chart. Determine the mean number of robberies reported per day and determine the control limits. Are there any
Swiss Watches, Ltd. purchases watch stems for their watches in lots of 10,000. Their sampling plan calls for checking 20 stems, and if 3 or fewer stems are defective, the lot is accepted.a. Based on the sampling plan, what is the probability that a lot of 40% defective will be accepted?b. Design an
Automatic Screen Door Manufacturing Company purchases door latches from a number of vendors. The purchasing department is responsible for inspecting the incoming latches. Automatic purchases 10,000 door latches per month and inspects 20 latches selected at random. Develop an OC curve for the
At the beginning of each football season, Team Sports, the local sporting goods store, purchases 5,000 footballs. A sample of 25 balls is selected, and they are inflated, tested, and then deflated. If more than two balls are found defective, the lot of 5,000 is returned to the manufacturer. Develop
Some people are in favor of reducing federal taxes to increase consumer spending and others are against it. Two persons are selected and their opinions are recorded. Assuming no one is undecided, list the possible outcomes.
A quality control inspector selects a part to be tested. The part is then declared acceptable, repairable, or scrapped. Then another part is tested. List the possible outcomes of this experiment regarding two parts.
A firm will promote two employees out of a group of six men and three women.a. List all possible outcomes. b. What probability concept would be used to assign probabilities to the outcomes?
A sample of 40 oil industry executives was selected to test a questionnaire. One question about environmental issues required a yes or no answer.a. What is the experiment?b. List one possible event.c. Ten of the 40 executives responded yes. Based on these sample responses, what is the probability
A student is taking two courses, history and math. The probability the student will pass the history course is .60, and the probability of passing the math course is .70. The probability of passing both is .50. What is the probability of passing at least one?
The aquarium at Sea Critters Depot contains 140 fish. Eighty of these fish are green sword- tails (44 female and 36 male) and 60 are orange swordtails (36 female and 24 males.). A fish is randomly captured from the aquarium:a. What is the probability the selected fish is a green swordtail?b. What
Refer to the following table.a. Determine P(A1).b. Determine P(B1 Æ’ A2).c. Determine P(B2 andA3).
Three defective electric toothbrushes were accidentally shipped to a drugstore by Clean brush Products along with 17 non-defective ones.a. What is the probability the first two electric toothbrushes sold will be returned to the drugstore because they are defective?b. What is the probability the

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