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Statistics For Managers Using Microsoft Excel 8th Edition David M. Levine, David F. Stephan, Kathryn A. Szabat - Solutions

The file McDonaldsStores contains the number of McDonald's stores located in each of the 50 U.S. states and the District of Columbia, as of December 31, 2014:a. Compute the mean, variance, and standard deviation for this population.b. What percentage of the 50 states have McDonald's stores within
The file Cigarette Tax contains the state cigarette tax (in $) for each of the 50 states as of January 1, 2015.a. Compute the population mean and population standard deviation for the state cigarette tax.b. Interpret the parameters in (a).
Thirty companies comprise the DJIA. Just how big are these companies? One common method for measuring the size of a company is to use its market capitalization, which is computed by multiplying the number of stock shares by the price of a share of stock. On May 6, 2015, the market capitalization of
A study of 1,649 college students suggests a link between Facebook use and grade point average. Freshmen reporting a higher use of Facebook had lower grade point averages than freshmen reporting a lower use of Facebook. (Data extracted from R. Junco, "Student class standing, Facebook use, and
College football is big business, with coaches' pay in millions of dollars. The file College Football contains the 2013 total athletic department revenue and 2014 football coaches' total pay for 108 schools. (Data extracted from usat.ly/1uws90v and usat.ly/1DOl0v3.)a. Compute the covariance.b.
What are the differences among the mean, median, and mode, and what are the advantages and disadvantages of each? Discuss briefly.
The file Restaurants contains the cost per meal and the ratings of 50 center city and 50 metro area restaurants on their food, décor, and service (and their summated ratings). (Data extracted from Zagat Survey 2015 New York City Restaurants.) Complete the following for the center city and
What was the mean price of a room at two-star, three-star, and four-star hotels in the major cities of the world during the first half of 2014? The file HotelPrices contains the mean prices in English pounds, approximately US$1.57 as of May 2015, for the three categories of hotels. (Data extracted
The file DomesticBeer contains the percentage alcohol, number of calories per 12 ounces, and number of carbohydrates (in grams) per 12 ounces for 158 of the best-selling domestic beers in the United States. (Data extracted from bit.ly/1A4E6AF, February 3, 2015.) Write a report that includes a
According to the U.S. Census Bureau (census.gov), in 2014, the median sales price of new houses was $282,800 and the mean sales price was $345,800. a. Interpret the median sales price. b. Interpret the mean sales price. c. Discuss the shape of the distribution of the price of new houses.
What business and technical skills are critical for today's business intelligence/analytics and information management professionals? As part of InformationWeek's 2014 U.S. IT Salary Survey, business intelligence/analytics and data integration/ warehousing professionals, both staff and managers,
Do Americans prefer name-brand milk or store brand milk? A survey was conducted by Harris Poll Interactive, Inc. in November 2014. Suppose the results, based on 1,138 females and 1,138 males, were as follows:If an American is selected at random, what is the probability that he or she a. Prefers
A survey of 1,700 shoppers asked, "Does social media influence your purchase decisions?" The results indicated that 20.3% of females responded that their purchase decisions are influenced by social media compared to 10.5% of males. (Data extracted from "The Myth of the Mansumer...,"
Do Americans prefer name-brand milk or store brand milk? A survey was conducted by Harris Poll Interactive, Inc. in November 2014. Suppose the results, based on 1,138 females and 1,138 males, were as follows:a. Given that an American is a male, what is the probability that he prefers name-brand
A survey of 1,700 shoppers asked, "Does social media influence your purchase decisions?" The results indicated that 20.3% of females responded that their purchase decisions are influenced by social media compared to 10.5% of males. (Data extracted from "The myth of the mansumer...,"
In 42 of the 64 years from 1950 through 2014 (in 2011 there was virtually no change), the S&P 500 finished higher after the first five days of trading. In 37 out of 42 years, the S&P 500 finished higher for the year. Is a good first week a good omen for the upcoming year? The following table gives
A survey by Accenture indicated that 68% of "millennials" are likely to ask for a pay raise, as compared to 45% of "baby boomers." (Data extracted from # Listen Learn Lead Global Research 2015, Accenture, 2015, p. 13.) Suppose that the survey was based on 500 respondents from each of the two
Sustainable Brand Index takes a closer look at today's sustainable consumers based on how consumers act in different situations and the underlying structures in their attitudes. Sustainable Brand Index has identified four behaviors that consumers show in relation to sustainability and brands: Ego,
Content Marketing Institute provides insights on the content marketing habits of nonprofit professionals representing a broad range of nonprofit agencies and organizations. A survey of nonprofit marketers conducted by the Content Marketing Institute indicated that 35% of nonprofit marketers rated
The CMO Survey collects and disseminates the opinions of top marketers in order to predict the future of markets, track marketing excellence, and improve the value of marketing in firms and in society. Part of the survey explores how companies are using marketing analytics to drive decision making
According to Verto Analytics, Inc., 53% of 30- to-34-year-olds in the United States own tablets. (Data extracted from "The Impact of Income and Age on Device Ownership," bit.ly/1yR21gL.) Using the binomial distribution, what is the probability that in the next six 30- to-34-year-olds surveyeda.
The U.S. Department of Transportation maintains statistics for involuntary denial of boarding. In July-September 2014, the American Airlines rate of involuntarily denying boarding was 0.58 per 10,000 passengers. What is the probability that in the next 10,000 passengers, there will bea. No one
J.D. Power and Associates calculates and publishes various statistics concerning car quality. The dependability score measures problems experienced during the past 12 months by owners of vehicles (2015). For these models of cars, Ford had 1.88 problems per car and Toyota had 1.11 problems per car.
Refer to Problem 5.27. If you purchased a Toyota in the 2015 model year, what is the probability that in the past 12 months the car hadIn Problem 5.27J.D. Power and Associates calculates and publishes various statistics concerning car quality. The dependability score measures problems experienced
Between 1896-when the Dow Jones index was created- and 2014, the index rose in 67% of the years. M. Hulbert, "What the Past Can't Tell Investors," The New York Times, January 3, 2010, p. BU2 and bit.ly/100zwvT. Based on this information, and assuming a binomial distribution, what do you think is
Smartphone adoption among American younger adults has increased substantially and mobile access to the Internet is pervasive. Fifteen percent of young adults, ages 18-29, who own a smartphone are "smartphone-dependent," meaning that they do not have home broadband service and have limited options
In 2014, the per capita consumption of soft drinks in the United States was reported to be 42.1 gallons. (Data extracted from beverage digest.com/pdf/top-10_2015.pdf.). Assume that the per capita consumption of soft drinks in the United States is approximately normally distributed with a mean of
As player salaries have increased, the cost of attending basketball games has increased dramatically. The file NBA Cost contains the cost of four averaged-priced tickets, two beers, four soft drinks, four hot dogs, two game programs, two adult-sized caps, and one parking space at each of the 30
Thirty companies comprise the DJIA. How big are these companies? One common method for measuring the size of a company is to use its market capitalization, which is computed by multiplying the number of stock shares by the price of a share of stock. On May 6, 2015 the market capitalization of these
The file CD Rate contains the yields for a one-year certificate of deposit (CD) and a five-year CD for 25 banks in the United States, as of April 29, 2015. (Data extracted from www.Bankrate.com, April 29, 2015.) For each type of investment, decide whether the data appear to be approximately
The file Utility contains the electricity costs, in dollars, during July 2015 for a random sample of 50 one-bedroom apartments in a large city:Decide whether the data appear to be approximately normally distributed bya. Comparing data characteristics to theoretical properties.b. Constructing a
Webrooming, researching products online before buying them in store, has become the new norm for today's connected consumers; this is in contrast to show rooming, researching products in a physical store before purchasing online. A recent study by Interactions reported that most shoppers have a
The file DomesticBeer contains the percentage alcohol, number of calories per 12 ounces, and number of carbohydrates (in grams) per 12 ounces for 158 of the best-selling domestic beers in the United States. Determine whether each of these variables appears to be approximately normally distributed.
The major stock market indexes had strong results in 2014. The mean one-year return for stocks in the S&P 500, a group of 500 very large companies, was +11.4%. The mean one-year return for the NASDAQ, a group of 3,200 small and medium-sized companies, was +13.4%. Historically, the one-year returns
In 2014, the per capita consumption of bottled water in the United States was reported to be 34 gallons. (Data extracted from bottledwater.org/economics/bottled-water-market.) Assume that the per capita consumption of bottled water in the United States is approximately normally distributed with a
Consumers spent an average of $15.30 on a meal at a restaurant in 2014. (Data extracted from bit.ly/1KVWWxT) Assume that the amount spent on a restaurant meal is normally distributed and that the standard deviation is $2. a. What is the probability that a randomly selected person spent more than
What do workers around the world want in a job? An EY global study of full-time workers on work-life challenges found that one of the most important factors when seeking a job is flexibility, with 74% of workers saying that being able to work flexibly and still be on track for a promotion is
According to MSCI's 2014 Survey of Women on Boards, the percentage of women on U.S. S&P 1500 boards has increased marginally since 2001, and now stands at 16%, well below the values for France and Italy. This study also reports that 17% of U.S. S&P 1500 companies have three or more female
An IAB study on the state of original digital video showed that original digital video is becoming increasingly popular. Original digital video is defined as professionally produced video intended only for ad-supported online distribution and viewing. According to IAB data, 30% of American adults
The stock market in Sweden reported strong returns in 2014. The population of stocks earned a mean return of 11.9% in 2014. (Data extracted from The Wall Street Journal, January 2, 2015, p. C5.) Assume that the returns for stocks on the Swedish stock market were distributed as a normal variable,
The article mentioned in Problem 7.28 reported that the stock market in Germany had a mean return of 2.7% in 2014. Assume that the returns for stocks on the German stock market were distributed normally, with a mean of 2.7 and a standard deviation of 10. If you select an individual stock from this
According to the National Survey of Student Engagement, the average student spends about 17 hours each week preparing for classes; preparation for classes includes homework, reading and any other assignments. (Data extracted from "How much do you study...," usat.ly/1QrG1aj.) Assume the standard
The file Sedans contains the overall miles per gallon (MPG) of 2015 midsized sedans:a. Construct a 95% confidence interval estimate for the population mean MPG of 2015 midsized sedans, assuming a normal distribution.b. Interpret the interval constructed in (a).c. Compare the results in (a) to those
The file SUV contains the overall MPG of 2015 small SUVs:a. Construct a 95% confidence interval estimate for the population mean MPG of 2015 small SUVs, assuming a normal distribution.b. Interpret the interval constructed in (a).c. Compare the results in (a) to those in Problem 8.19(a).
Is there a difference in the yields of different types of investments? The file CDRate contains the yields for a oneyear certificate of deposit (CD) and a five-year CD for 25 banks in the United States as of April 15, 2015. (Data extracted from www.Bankrate.com, April 15, 2015.)a. Construct a 95%
The file MobileCommerce contains mobile commerce penetration values, the percentage of the country population that bought something online via a mobile phone in the past month, for twenty-eight of the world's economies:a. Construct a 95% confidence interval estimate for the population mean mobile
In a survey of 175 organizations, 77 responded that the top reason their HR function struggles with systematically using analytics is a lack of people resources that understand how to interpret analytics and turn them into actionable insight. (Data extracted from "HR Metrics, Measures, Data and
A Pew Research Center survey of online American adults included 1,074 Facebook users. Of these Facebook users, 935 are connected to friends from the past (such as high school or college classmates) while 419 of these Facebook users are connected to people they have never met in person. (Data
What are the digital technologies that tech CEOs believe are strategically important for their organization? In a survey by PricewaterhouseCoopers (PwC), 157 of 176 tech CEOs around the globe responded that cybersecurity is strategically important for their organization, and 79 responded that
How do Millennials respond to content marketing? According to a NewsCred study, 31% of Millennials are more likely to buy if the brand delivers interesting content that teaches them something. (Data extracted from "Build brand loyalty with millennials with meaningful content," February 25, 2015,
A Federal Reserve Board Report looked at how consumers are using mobile devices throughout their purchase journey. In response to a survey question about mobile device use while shopping, 47% of smartphone owners said they use their smartphone to comparison shop on the Internet while at a retail
In a study of 362 nonprofits nationwide, 98 indicated that the greatest employee retention challenge they face is an inability to pay competitively. (Data extracted from 2015 Nonprofit Employment Practices Survey, Nonprofit HR, bit.ly/1SbD0Ir.)a. Construct a 95% confidence interval for the
Cybersecurity is a critical business issue that demands the attention of an institution's Chief Executive Officer and the Board of Directors. According to a PwC study, 33% of financial services institutions say their Board is involved in the review of security and privacy risks. (Data extracted
How do consumers feel about companies sharing and selling their personal data? A Bain & Company press release (bit.ly/1FZ1QCH) reports that a new survey they conducted found that 67% of consumers indicate that it should be illegal for companies to collect or use such data without getting prior
A GlobalWebIndex study, as reported by TechCrunch (tcrn.ch/1MPKLRf), noted the percentage of adult Internet users that owned various devices. Suppose that a survey of 1,000 adult Internet users found the 910 adult users own a computer, 800 own a smartphone, 470 own a tablet, and 90 own a smart
How do women try to save when shopping for groceries? A sample of 1,008 adult women in the U. S. revealed that 937 women buy store brands, 837 women use print coupons, 726 women plan meals around sale items, and 333 women buy groceries online. (Data extracted from "Grocery Savings Habits of the
In Problems 9.52 and 9.53, suppose you are testing the null hypothesis H0: π = 0.20 against the two-tail alternative hypothesis H1: π = 0.20 and you choose the level of significance α = 0.05. What is your statistical decision?In problem 9.52If, in a random sample of 400 items, 88 are defective,
The worldwide market share for the Chrome web browser was 26% in a recent month. (Data extracted from netmarketshare.com.) Suppose that you decide to select a sample of 100 students at your university and you find that 30 use the Chrome web browser.a. Use the five-step p-value approach to determine
What are companies' biggest obstacles to attracting the best talent? Of 406 surveyed U.S. talent acquisition professionals, 215 reported that competition is the biggest obstacle at their company. (Source: LinkedIn Talent Solutions, 2015 Global Recruiting Trends, linkd.in/1KThkPp.) At the 0.05 level
Actuation Consulting conducted a global survey of product teams with the goal of better understanding the dynamics of product team performance and uncovering the practices that make these teams successful. One of the survey findings was that 42% of organizations consider the project manager role
IAB conducted a study of U.S. online adults that included 416 tablet owners. The study found that 221 tablet owners use their tablet while watching TV. The authors of the report imply that the survey proves that more than half of all tablet owners use their tablet while watching TV at least once
Does the quality of cell service vary between providers? The file CellService provides the cellphone rating of AT&T and Verizon Wireless in 23 U. S. cities. (Data extracted from " Smart-Phone Shopping Guide," Consumer Reports, January 2014, pp. 30-31.)a. At the 0.05 level of significance, is
How do competing airline carrier fares compare? A frequent flyer investigated round-trip fares for nonstop travel from Philadelphia to 10 different U.S. destinations on Southwest Airlines and US Airways. Data was collected and stored the data in Airlines. (Data extracted from bit.ly/1fIUhec and
An online survey asked 1,004 adults "If purchasing a used car made certain upgrades or features more affordable, what would be your preferred luxury upgrade?" The results indicated that 9% of the males and 14% of the females answered window tinting. (Source: Data extracted from Ipsos, "Safety
Does Cable Video on Demand (VOD D4+) increase ad effectiveness? A 2015 VOD study compared general TV and VOD D4+ audiences after viewing a brand ad. Data were collected on whether the viewer indicated that the ad made them want to visit the brand website. The results were:Made me Want to Visit
How often does work intrude during off hours? A survey of 1,000 office workers indicated that 53% of males and 41% of females had office intrusions while on vacation. (Data extracted from "Office Intrusions On the Off Hours," USA Today Snapshots, November 25, 2013, p. 1A.) Assume that the survey
The Society for Human Resource Management (SHRM) collaborated with Globoforce on a series of organizational surveys with the goal of identifying challenges that HR leaders face and what strategies help them conquer those challenges. A 2015 survey indicates that employee retention/turnover (40%) and
Accounting Today identified the top accounting firms in 10 geographic regions across the United States. All 10 regions reported growth in 2014. The Southeast and Gulf Coast regions reported growth of 12.36% and 5.8%, respectively. A characteristic description of the accounting firms in the
How do private universities and public colleges compare with respect to debt at graduation incurred by students? The file CollegeDebt contains the average debt at graduation incurred by students for 100 private universities and 100 public colleges, as reported by Kiplinger. (Data extracted from
Do males and females differ in the amount of time they spend online and the amount of time they spend playing games while online? A study reported that women spent a mean of 1,068 minutes per week online as compared to 1,398 minutes per week for men. (Data extracted from Ofcom, Adults' Media Use
Do social shoppers differ from other online consumers with respect to spending behavior? A study of browser-based shopping sessions reported that social shoppers, consumers who click away from social networks to retail sites or share an item on a social network, spent a mean of $126.12 on a retail
QSR reports on the largest quick-serve and fast-casual brands in the United States. The file FastFoodChain contains the food segment (burger, chicken, pizza, or sandwich) and U.S. mean sales per unit ($ thousands) for each of 38 quick-service brands. (Data extracted from bit.ly/16GJlEn.)a. At the
Researchers conducted a study to investigate the impact of resilience and key demographics on the transformational leadership behaviors demonstrated by frontline sales professionals. The Leadership Practices Inventory (LPI) was used to assess transformational leadership; LPI scores range as high as
A transportation strategist wanted to compare the traffic congestion levels across three continents: Asia, Europe, and North America. The file CongestionLevel contains congestion level, defined as the increase (%) in overall travel time when compared to a free flow situation (an uncongested
How common are financial cost or contractual constraints associated with smartphone ownership? A survey of smartphone owners found that 48% of the 18- to 29-year-olds, 38% of the 30 to 49-year-olds, 25% of the 50- to 64-year-olds, and 19% of those age 65 or older have reached the maximum amount of
Business sensor technology provides a way for companies to learn about their customers, employees, and operations; data captured from sensors can be used to improve engagement, sales, productivity, safety, and much more. A PwC survey of global business and IT executives found that 25% of automotive
Most global organizations consider analytics and big data critical to success. However, is there a difference among North American, European, and Asian-Pacific organizations in the proportion of organizations that are investing heavily in analytics and big data technologies? A CSC study showed that
An MSCI survey showed that there continues to be a slow increase in the overall percentage of women on boards of directors globally. The study reported that 7 of 22 (32%) Austrian companies sampled, 86 of 103 (83%) French companies sampled, 40 of 92 (43%) German companies sampled, 5 of 31 (16%)
When performing a x2 test of independence in a contingency table with r rows and c columns, determine the upper-tail critical value of the test statistic in each of the following circumstances:a. a = 0.05, r = 4 rows, c = 5 columnsb. a = 0.01, r = 4 rows, c = 5 columnsc. a = 0.01, r = 4 rows, c = 6
An Australian Fair Work Commission survey of 1,134 employees across various industries gathered data on key drivers of job satisfaction. The most important aspect in determining employee satisfaction was collected by industry and organized into the table below. At the 0.05 level of significance, is
Infusionsoft conducted a study to explore the attitudes, behaviors, and challenges that small businesses face related to sales and marketing. Small business owners were categorized by the amount they spend per month on marketing activities as well as the attitudinal segment to which they belong.
A problem that prevents a customer from receiving or making phone calls is upsetting to both the customer and the company that provides the phone service. The file Phone contains samples of 20 problems reported to two different offices of a phone provider and the time (minutes) to clear these
A transportation strategist wanted to compare the traffic congestion levels across three continents: Asia, Europe, and North America. The file CongestionLevel contains congestion level, defined as the increase (%) in overall travel time when compared to a free flow situation (an uncongested
Are males or females more satisfied with the growth and opportunities offered by their employer? A survey of employed adults conducted online by Harris Interactive on behalf of the American Psychological Association revealed the following:SatisfiedGender _________________Yes ____________NoMale
The Society for Human Resource Management (SHRM) and Globoforce collaborated on a series of organizational surveys with the goal of identifying challenges that HR leaders face and what strategies help them conquer those challenges. In results published in 2015, employee retention/turnover (40%) and
How often does work intrude during off hours? A survey of 1,000 office workers indicated that 53% of males and 41% of females had office intrusions while on vacation. (Data extracted from "Office Intrusions on the Off Hours," USA Today Snapshots, November 25, 2013, p. 1A.) Assume that the survey
In Problem 13.6 on page 437, a prospective MBA student wanted to predict starting salary upon graduation, based on program per-year tuition (stored in FTMBA ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard
In Problem 13.4 on page 436, you used the percentage of alcohol to predict wine quality. Perform a residual analysis for these data (stored in VinhoVerde). Evaluate whether the assumptions of regression have been seriously violated.
The volatility of a stock is often measured by its beta value. You can estimate the beta value of a stock by developing a simple linear regression model, using the percentage weekly change in the stock as the dependent variable and the percentage weekly change in a market index as the independent
In Problem 13.5 on page 436, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in Restaurants.a. Construct a 95% confidence interval estimate of the mean cost of a meal for restaurants that have a summated rating of 50.b. Construct a 95% prediction
In Problem 13.4 on page 436, you used the percentage of alcohol to predict wine quality. The data are stored in VinhoVerde . For these data, SYX = 0.9369 and hi = 0.024934 when X = 10.a. Construct a 95% confidence interval estimate of the mean wine quality rating for all wines that have 10%
In Problem 13.7 on page 437, you used the plate gap on the bag-sealing equipment to predict the tear rating of a bag of coffee. The data are stored in Starbucks .a. Construct a 95% confidence interval estimate of the mean tear rating for all bags of coffee when the plate gap is 0.b. Construct a 95%
Is an MBA a golden ticket? Pursuing an MBA is a major personal investment. Tuition and expenses associated with business school programs are costly, but the high costs come with hopes of career advancement and big salaries. A prospective MBA student would like to examine the factors that impact
Management of a soft-drink bottling company has the business objective of developing a method for allocating delivery costs to customers. Although one cost clearly relates to travel time within a particular route, another variable cost reflects the time required to unload the cases of soft drink at
An analyst has the objective of predicting the return on equity (ROE) of banks. The analyst begins by using the leverage ratio, a financial measurement that looks at how much capital comes in the form of debt. A sample of 25 American banks is selected and stored in AmericanBanks . (Data extracted
The file CEO 2014 includes the total compensation (in $millions) for CEOs of 200 Standard & Poor's 500 companies and the investment return in 2014. (Data extracted from "Highest Paid Chiefs in 2014," nyti.ms/1Hrapdm.)a. Compute the correlation coefficient between compensation and the investment
Leasing agents from the Triangle Mall Management Corporation have suggested that Sunflowers consider several locations 13 chapter in some of Triangle's newly renovated lifestyle malls that cater to shoppers with higher-than-mean disposable income. Although the locations are smaller than the typical
Brynne Packaging is a large packaging company, offering its customers the highest standards in innovative packaging solutions and reliable service. About 25% of the employees at Brynne Packaging are machine operators. The human resources department has suggested that the company consider using the
In Problem 14.7 on page 480, you used the total staff present and remote hours to predict standby hours (stored in Standby). Using the results from that problem,a. at the 0.05 level of significance, determine whether each independent variable makes a significant contribution to the regression
In Problem 14.6 on page 480, you used full-time voluntary turnover (%), and total worldwide revenue ($billions) to predict number of full-time jobs added (stored in BestCompanies ). Using the results from that problem,a. at the 0.05 level of significance, determine whether each independent variable

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