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Statistics For Business And Economics 12th Edition James T. McClave, P. George Benson, Terry T Sincich - Solutions

Windows is a computer software product made by Microsoft Corporation. In designing a new version of Windows, Microsoft telephoned thousands of users of an earlier version of Windows and asked them how the product could be improved. Assume customers were asked the following questions:a. Are you the
A cyberchondriac is defined as a person who regularly searches the Web for health care information. Each year a Harris Poll is conducted to determine the number of cyberchondriacs in the United States. In 2011, the Harris Poll surveyed 1,019 U.S. adults by telephone and asked the following
Each year, Forbes publishes its Executive Compensation Scoreboard. For the 2011 scoreboard, data were collected for chief executive officers at the 500 largest U.S. companies and the following variables were measured for each CEO: (1) The industry type of the CEO's company (e.g., banking,
The Computer Security Institute (CSI) conducts an annual survey of computer crime at U.S. businesses. CSI sends survey questionnaires to computer security personnel at all U.S. corporations and government agencies. The 2010 CSI survey was sent by post or e-mail to 5,412 firms, and 351 organizations
What are the economic rewards (e.g., higher salary) to obtaining an MBA degree? This was the question of interest in an article published in the International Economic Review (August 2008). The researchers made inferences based on wage data collected for a sample of 3,244 individuals who sat for
Corporate sustainability refers to business practices designed around social and environmental considerations (e.g., "going green"). Business and Society (March 2011) published a paper on how firm size and firm type impact sustainability behaviors. The researchers added questions on sustainability
Using the FHWA inspection ratings, each of the 608,272 highway bridges in the United States was categorized as structurally deficient, functionally obsolete, or safe. About 13.5% of the bridges were found to be structurally deficient, while 3.5% were functionally obsolete. a. What is the variable
The Wallace Company of Houston is a distributor of pipes, valves, and fittings to the refining, chemical, and petrochemical industries. The company was a recent winner of the Malcolm Baldrige National Quality Award. One of the steps the company takes to monitor the quality of its distribution
List and define the four elements of a descriptive statistics problem.
The effect of guilt emotion on how a decision maker focuses on the problem was investigated in the Journal of Behavioral Decision Making (January 2007). A total of 171 volunteer students participated in the experiment, where each was randomly assigned to one of three emotional states (guilt, anger,
Behavioral Research in Accounting (January 2008) published a study of Machiavellian traits in accountants. Machiavellian describes negative character traits that include manipulation, cunning, duplicity, deception, and bad faith. A questionnaire was administered to a random sample of 700 accounting
Is the gift you purchased for that special someone really appreciated? This was the question of interest to business professors at Stanford University. Their research was published in the Journal of Experimental Social Psychology (Vol. 45, 2009). In one study, the researchers investigated the link
To ascertain the effectiveness of their advertising campaigns, firms frequently conduct telephone interviews with consumers using random-digit dialing. With this approach, a random number generator mechanically creates the sample of phone numbers to be called. Each digit in the phone number is
Corporate merger is a means through which one firm (the bidder) acquires control of the assets of another firm (the target). Recently, there was a frenzy of bank mergers in the United States, as the banking industry consolidated into more efficient and more competitive units.a. Construct a brief
The Wakefield plant of Coca-Cola and Schweppes Beverages Limited (CCSB) can produce 4,000 cans of soft drink per minute. The automated process consists of measuring and dispensing the raw ingredients into storage vessels to create the syrup, and then injecting the syrup, along with carbon dioxide,
The employment status (employed or unemployed) of each individual in the U.S. workforce is a set of data that is of interest to economists, business people, and sociologists. To obtain information about the employment status of the workforce, the U.S. Bureau of the Census conducts what is known as
A recent court case involved a claim of satellite television subscribers obtaining illegal access to local TV stations. The defendant (the satellite TV company) wanted to sample TV markets nationwide and determine the percentage of its subscribers in each sampled market who have illegal access to
Recall that the popular prime time ABC television program 20/20 presented several misleading (and possibly unethical) surveys in a segment titled "Fact or Fiction?-Exposes of So-Called Surveys." The information reported from four of these surveys and a more recent survey are reproduced here (actual
List and define the five elements of an inferential statistical analysis.
Explain the difference between quantitative and qualitative data.
Complete the following table.
Recall that the industry type of the CEO's company (e.g., banking, retailing, etc.) was recorded for each of the 175 CEOs with the highest efficiency (pay-for-performance) ratings. Access the data file and use a graphical method to describe the frequency of occurrence of the industry types. For
Numerical descriptive measures for level of support for corporate sustainability for the 992 senior managers are repeated in the accompanying Minitab printout. One of the managers reported a support level of 155 points. Would you consider this support level to be typical of the study sample?
The Superfund Act was passed by Congress to encourage state participation in the implementation of a law relating to the release and cleanup of hazardous substances. Hazardous waste sites financed by the Superfund Act are called Superfund sites. A total of 393 Superfund sites are operated by waste
In a study of how external clues influence performance, professors at the University of Alberta and Pennsylvania State University gave two different forms of a midterm examination to a large group of introductory students. The questions on the exam were identical and in the same order, but one exam
Thousands of students apply for admission to graduate schools in economics each year with the intention of obtaining a PhD. The Southern Economic Journal (Apr. 2008) published a guide to graduate study in economics by ranking the PhD programs at 129 colleges and universities. Each program was
At one university, the students are given z-scores at the end of each semester rather than the traditional GPAs. The mean and standard deviation of all students' cumulative GPAs, on which the z-scores are based, are 2.7 and .5, respectively. a. Translate each of the following z-scores to the
A sample data set has a mean of 57 and a standard deviation of 11. Determine whether each of the following sample measurements is outliers. a. 65 b. 21 c. 72 d. 98
Consider the horizontal box plot shown below.a. What is the median of the data set (approximately)?b. What are the upper and lower quartiles of the data set (approximately)?c. What is the interquartile range of the data set (approximately)?d. Is the data set skewed to the left, skewed to the right,
Consider the following two sample data sets.a. Construct a box plot for each data set.b. Identify any outliers that may exist in the two data sets.
For physicians confronted with ethical dilemmas (e.g., end-of-life issues or treatment of patients without insurance), many hospitals provide ethics consultation services. However, not all physicians take advantage of these services and some refuse to use ethics consultation. The extent to which
Psoriasis is a skin disorder with no known cure and no proven effective pharmacological treatment. An alternative treatment for psoriasis is ichthyotherapy, also known as therapy with the "Doctorfish of Kangal." Fish from the hot pools of Kangal, Turkey, feed on the skin scales of bathers,
Accountants use the term budget lapsing to describe the situation that occurs when unspent funds do not carry over from one budgeting period to the next. Due to budget lapsing, U.S. army hospitals tend to stockpile pharmaceuticals and other supplies toward the end of the fiscal year, leading to a
Consider the top salary offer (in thousands of dollars) received by each member of a sample of 50 MBA students who graduated from the Graduate School of Management at Rutgers, the state university of New Jersey. Descriptive statistics and a box plot for the data are shown on the XLSTAT printouts
The number of semester hours of college credit earned by the candidates had a mean of 141.31 hours and a standard deviation of 17.77 hours. a. Find the z-score for a first-time candidate for the CPA exam who earned 160 semester hours of college credit. Is this observation considered an outlier? b.
One of the managers reported a support level of 155 points. Use both a graph and a numerical technique to determine if this observation is an outlier. For Information: Refer to the Business and Society (March 2011) study on the sustainability behaviors of CPA corporations, Exercise 2.100 (p. 91).
Refer to the Financial Management (Spring 1995) study of 49 firms filing for prepackaged bankruptcies, Exercise 2.32 (p. 62). Recall that three types of "prepack" firms exist: (1) those who hold no prefiling vote, (2) those who vote their preference for a joint solution; and (3) those who vote
Refer to Exercise 2.101 (p. 90) and the data on the number of Superfund sites in each of 75 Arkansas counties.a. There is at least one outlier in the data. Use the methods of this chapter to detect the outliers.b. Delete the outlier(s) found in part a from the data set and recalculate measures of
The data on the sanitation levels of passenger cruise ships: a. Use the box plot method to detect any outliers in the data set. b. Use the z-score method to detect any outliers in the data set. c. Do the two methods agree? If not, explain why. For Information: Refer to Exercise 2.81.
A manufacturer of network computer server systems is interested in improving its customer support services. As a first step, its marketing department has been charged with the responsibility of summarizing the extent of customer problems in terms of system downtime. The 40 most recent customers
The delivery times (in days) for a sample of 25 orders are repeated in the accompanying table. (Times marked by an asterisk are associated with customers who subsequently placed additional orders with the company.) Identify any unusual observations (outliers) in the data set, and then use the
A corporate acquisition occurs when one corporation purchases all the stock shares of another, essentially taking over the other. The Academy of Management Journal (Aug. 2008) investigated the performance and timing of corporate acquisitions for a large sample of firms over the years 1980 to 2000.
Researchers at Carnegie Mellon University developed an algorithm for estimating the sensor motion of a robotic arm by mounting a camera with inertia sensors on the arm (International Journal of Robotics Research, Dec. 2004). One variable of interest is the error of estimating arm translation
Construct a scatter plot for the data in the following table.
In baseball, there is an old saying that "nice guys finish last." Is this true in the competitive corporate world? Researchers at Harvard University attempted to answer this question and reported their results in Nature (March 20, 2008). In the study, Boston-area college students repeatedly played
Strategic placement of lobster traps is one of the keys for a successful lobster fisherman. An observational study of teams fishing for the red spiny lobster in Baja California Sur, Mexico, was conducted and the results published in Bulletin of Marine Science (April 2010). Two variables measured
Construct a scatter plot for the data, with 2001 Math SAT score on the horizontal axis and 2011 Math SAT score on the vertical axis. What type of trend do you detect?For Information: Refer to Exercise 2.27 and the data on state SAT scores.
In Geoforum (Vol. 37, 2006), Simon Fraser University professor Nicholas Blomley assessed whether the price of a geography journal is correlated with quality. He collected pricing data (cost for a 1-year subscription in U.S. dollars) for a sample of 28 geography journals. In addition to cost, three
A contract engineer at DuPont Corp. studied the rate at which a spilled volatile liquid will spread across a surface (Chemical Engineering Progress, Jan. 2005). Assume 50 gallons of methanol spills onto a level surface outdoors. The engineer used derived empirical formulas (assuming a state of
The U.S. Office of Management and Budget (OMB) require government agencies to produce annual performance and accounting reports (PARS) each year. A research team at George Mason University evaluated the quality of the PARS for 24 government agencies (The Public Manager, summer 2008). Evaluation
Evolutionary theory suggests that motivated decision makers tend to exhibit a right-oriented bias. (For example, if presented with two equally valued brands of detergent on a supermarket shelf, consumers are more likely to choose the brand on the right.) In Psychological Science (November 2011),
Construct a scatter plot to investigate the relationship between 2011 value ($ millions) and operating income ($ millions). Would you recommend that an NFL executive use operating income to predict a team's current value? Explain.For Information: Refer to the Forbes listing of the 2011 values of
Refer to the Journal of Medical Ethics (Vol. 32, 2006) study of physicians' use of ethics consultation, Exercise 2.68. In addition to length of time in practice (i.e., years of experience), the researchers also measured the amount of exposure to ethics in medical school (number of hours) for the
Data on these two variables for the top 40 PGA golfers are saved in the accompanying file. A professional golfer is practicing a new swing to increase his average driving distance. However, he is concerned that his driving accuracy will be lower. Is his concern a valid one? Explain. For
A summary of the results is reproduced in the table. Consider the bar graph shown. Identify two ways in which the bar graph might mislead the viewer by overemphasizing the importance of one of the performance measures.For Information: Refer to the Museum Management and Curatorship (June 2010) study
While the United States was still actively fighting in the Iraq War, a news media outlet produced a graphic showing a dramatic decline in the annual number of American casualties. The number of deaths for the years 2003, 2004, 2005, and 2006 were (approximately) 475, 850, 820 and 130,
Consider the following graphic, produced by the Silicon Alley Insider, an online publication for business news. The graph is attempting to show the increasing trend in annual revenue produced by Craigslist as compared to the decrease in newspaper classified ad sales.a. Why might the graph be
In the summer of 2010, an explosion on the Deepwater Horizon oil drilling rig caused a leak in one of British Petroleum (BP) Oil Company's wells in the Gulf of Mexico. Crude oil rushed unabated for 3 straight months into the Gulf until BP could fix the leak. During the disaster, BP used suction
Consider the following three measurements: 50, 70, 80. Find the z-score for each measurement if they are from a population with a mean and standard deviation equal toa. μ =60, σ =10b. μ =50, σ =5c. μ =40, σ =10d. μ =40, σ =100
What criteria do museums use to evaluate their performance? In a worldwide survey reported in Museum Management and Curatorship (June 2010), managers of 30 leading museums of contemporary art were asked to provide the performance measure used most often. A summary of the results is provided in the
For each of the following data sets, compute , s2, and s. If appropriate, specify the units in which your answers are expressed. a. 4, 6, 6, 5, 6, 7 b. -$1, $4,-$3, $0,-$3,-$6 c. 3/5%, 4/5%, 2/5%, 1/5%, 1/16% d. Calculate the range of each data set in parts a-c.
Explain why we generally prefer the standard deviation to the range as a measure of variability for quantitative data.
Construct a scatter gram for the data in the following table.
The U.S. Chemical Safety and Hazard Investigation Board (CSB) is responsible for determining the root cause of industrial accidents (Process Safety Progress, Dec. 2004). The accompanying table gives a breakdown of the root causes of 83 incidents caused by management system failures.a. Find the
Business-to-business marketing describes the field of marketing between multiple business entities. The Journal of Business-to-Business Marketing (Vol. 15,2008) produced a pie chart describing the number of business-to-business marketing articles published in all journals, by topical area, between
The American Bankruptcy Institute and the National Bankruptcy Research Center monitor the number of consumer bankruptcy filings each month. The table on the next page lists the number of bankruptcy filings for each of the first 10 months of a recent year.a. Explain why the data in the table
"Reader-response cards" are used by marketers to advertise their product and obtain sales leads. These cards are placed in magazines and trade publications. Readers detach and mail in the cards to indicate their interest in the product, expecting literature or a phone call in return. How effective
One quantitative variable recorded by the NHTSA is driver's severity of head injury (measured on a scale from 0 to 1,500). The mean and standard deviation for the 98 driver head-injury ratings are displayed in the Minitab printout below.a. Give a practical interpretation of the mean.b. Use the mean
Consider the following data from the automobile industry (adapted from Kane 1989). All cars produced on a particular day were inspected for defects. The 145 defects found were categorized by type as shown in the accompanying table.a. Construct a Pareto diagram for the data. Use the graph to
"Made in the USA" is a claim stated in many product advertisements or on product labels. Advertisers want consumers to believe that the product is manufactured with 100% U.S. labor and materials-which is often not the case. What does "Made in the USA" mean to the typical consumer? To answer this
For each day of last year, the number of vehicles passing through a certain intersection was recorded by a city engineer. One objective of this study was to determine the percentage of days that more than 425 vehicles used the intersection. Suppose the mean for the data was 375 vehicles per day and
Failure of a corporation to obey both federal and state environmental regulations may result in irreparable damage to the environment and costly financial penalties to the firm. The accompanying table lists the financial penalties (thousands of dollars) assessed in 38 civil actions filed against
Diamonds are categorized according to the "four C's": carats, clarity, color, and cut. Each diamond stone that is sold on the open market is provided a certificate by an independent diamond assessor that lists these characteristics. Data for 308 diamonds were extracted from Singapore's Business
Refer to Exercise 2.156. In addition to color and clarity, the independent certification group (GI A, HRD, or IGI) and the number of carats were recorded for each of 308 diamonds for sale on the open market. a. Use a graphical method to describe the carat distribution of all 308 diamonds. b. Use a
In addition to the number of carats, the asking price for each of the 308 diamonds for sale on the open market was recorded. Construct a scatter plot for the data, with number of carats on the horizontal axis and price on the vertical axis. What type of trend do you detect? For Information: Refer
Owing to several major ocean oil spills by tank vessels, Congress passed the 1990 Oil Pollution Act, which requires all tankers to be designed with thicker hulls. Further improvements in the structural design of a tank vessel have been proposed since then, each with the objective of reducing the
Business Ethics (Fall 2005) reported on a survey designed to rank master in business administration (MBA) programs worldwide on how well they prepare students for social and environmental stewardship. Each business school was ranked according to four criteria: student exposure (class time dedicated
The Promise Software Engineering Repository is a collection of data sets available to serve businesses in building predictive software models. One such data set, saved in the accompanying file, contains information on 498 modules of software code. Each module was analyzed for defects and classified
The American Rifleman (June 1993) reported on the velocity of ammunition fired from the FEG P9R pistol, a 9 mm gun manufactured in Hungary. Field tests revealed that Winchester bullets fired from the pistol had a mean velocity (at 15 feet) of 936 feet per second and a standard deviation of 10 feet
A manufacturer of industrial wheels is losing many profitable orders because of the long time it takes the firm's marketing, engineering, and accounting departments to develop price quotes for potential customers. To remedy this problem, the firm's management would like to set guidelines for the
A time series plot similar to the one shown next appeared in a recent advertisement for a well-known golf magazine. One person might interpret the plot's message as the longer you subscribe to the magazine, the better golfer you should become. Another person might interpret it as indicating that if
Refer to the Academy of Management Journal (Aug. 2008) study of corporate acquisitions from 1980 to 2000, Exercise 2.12.a. Construct a time series plot of the number of firms with at least one acquisition.b. For each year, compute the percentage of sampled firms with at least one acquisition. Then
In some locations, radiation levels in homes are measured at well above normal background levels in the environment. As a result, many architects and builders are making design changes to ensure adequate air exchange so that radiation will not be "trapped" in homes. In one such location, 50 homes,
A chemical company produces a substance composed of 98% cracked corn particles and 2% zinc phosphide for use in controlling rat populations in sugarcane fields. Production must be carefully controlled to maintain the 2% zinc phosphide because too much zinc phosphide will cause damage to the
If not examined carefully, the graphical description of U.S. peanut production shown below can be misleading.a. Explain why the graph may mislead some readers.b. Construct an undistorted graph of U.S. peanut production for the given years.
The U.S. Federal Trade Commission assesses fines and other penalties against weight-loss clinics that make unsupported or misleading claims about the effectiveness of their programs. Brochures from two weight-loss clinics both advertise "statistical evidence" about the effectiveness of their
The Age Discrimination in Employment Act mandates that workers 40 years of age or older be treated without regard to age in all phases of employment (hiring, promotions, firing, etc.). Age discrimination cases are of two types: disparate treatment and disparate impact. In the former, the issue is
In New Hampshire, about half the counties mandate the use of reformulated gasoline. This has led to an increase in the contamination of groundwater with methyl terf-butyl ether (MTBE). Environmental Science & Technology (Jan. 2005) reported on the factors related to MTBE contamination in public
In his essay "Making Things Right," W. Edwards Deming considered the role of statistics in the quality control of industrial products.* In one example, Deming examined the quality-control process for a manufacturer of steel rods. Rods produced with diameters smaller than 1 centimeter fit too
Refer to Exercise 2.18. Calculate the number of the 500 measurements falling into each of the measurement classes. Then graph a frequency histogram for these data.Exercise 2.18Graph the relative frequency histogram for the 500 measurements summarized in the accompanying relative frequency table.
A qualitative variable with three classes (X, Y, and Z) is measured for each of 20 units randomly sampled from a target population. The data (observed class for each unit) are listed below.a. Compute the frequency for each of the three classes.b. Compute the relative frequency for each of the three
Consider the stem-and-leaf display shown here. Stem Leaf 5 ...................... 1 4 ...................... 457 3 ...................... 00036 2 ...................... 1134599 1 ...................... 2248 0 ...................... 012 a. How many
Minitab was used to generate the following histogram:a. Is this a frequency histogram or a relative frequency histogram? Explain. b. How many measurement classes were used in the construction of this histogram? c. How many measurements are in the data set described by this histogram?
Recall that 351 organizations responded on unauthorized use of computer systems. One of the survey questions asked respondents to indicate the percentage of monetary losses attributable to malicious actions by individuals within the organization (i.e., malicious insider actions). The following
Corporate sustainability, recall, refers to business practices designed around social and environmental considerations. Data on the level of support for corporate sustainability were obtained for 992 senior managers. Level of support was measured quantitatively. Simulation was used to convert the
To minimize the potential for gastrointestinal disease outbreaks, all passenger cruise ships arriving at U.S. ports are subject to unannounced sanitation inspections. Ships are rated on a 100-point scale by the Centers for Disease Control and Prevention. A score of 86 or higher indicates that the
The data file includes the number of firms with at least one acquisition each year. a. Construct either a dot plot or a stem-and-leaf display for the annual number of firms with at least one acquisition. b. On the graph, part a, highlight (or circle) the values for the years 1996-2000. Do you
Each year Forbes reports on the value of all teams in the National Football League. Although England's soccer team, Manchester United, is the most valuable team in the world ($1.8 billion), the NFL now has 15 teams worth at least $1 billion. For 2011, Forbes reports that the Dallas Cowboys are the
Educators are constantly evaluating the efficacy of public schools in the education and training of American students. One quantitative assessment of change over time is the difference in scores on the SAT, which has been used for decades by colleges and universities as one criterion for admission.
In a manufacturing plant, a work center is a specific production facility that consists of one or more people and/or machines and is treated as one unit for the purposes of capacity requirements for planning and job scheduling. If jobs arrive at a particular work center at a faster rate than they

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