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business statistics

Business Statistics A First Course 7th Global Edition Kathryn A. Szabat, David M. Levine, David F. Stephan - Solutions

In problem 12.8 on page 446, you used annual revenues to predict the value of a baseball franchise. The data are stored in bbValues . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a linear relationship between annual revenue and franchise value?b.
In problem 12.7 on page 446, you used the plate gap in the bag-sealing equipment to predict the tear rating of a bag of coffee. The data are stored in Starbucks . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a linear relationship between the plate gap
In problem 12.6 on page 446, the owner of a moving company wanted to predict labor hours, based on the number of cubic feet moved. The data are stored in Moving . Use the results of that problem.a. At the 0.05 level of significance, is there evidence of a linear relationship between the number of
In problem 12.5 on page 446, you used the summated rating of a restaurant to predict the cost of a meal. The data are stored in restaurants . Using the results of that problem, b1 = 1.4963 and Sb1 = 0.1379.a. At the 0.05 level of significance, is there evidence of a linear relationship between the
In problem 12.4 on page 445, you used the percentage of alcohol to predict wine quality. The data are stored in VinhoVerde . From the results of that problem, b1 = 0.5624 and Sb1 = 0.1127.a. At the 0.05 level of significance, is there evidence of a linear relationship between the percentage of
You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 20, you determine that SSR = 60 and SSE = 40.a. What is the value of FSTAT?b. At the a = 0.05 level of significance, what is the critical value?c. Based on your answers
You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 18, you determine that b1 = +4.5 and Sb1 = 1.5.a. What is the value of tSTAT?b. At the a = 0.05 level of significance, what are the critical values?c. Based on your
You are testing the null hypothesis that there is no linear relationship between two variables, X and Y. From your sample of n = 9, you determine that r = 0.8.a. What is the value of the t test statistic tSTAT?b. At the a = 0.05 level of significance, what are the critical values?c. Based on your
The owners of a chain of ice cream stores has the business objective of improving the forecast of daily sales so that staffing shortages can be minimized during the summer season. As a starting point, the owners decide to develop a simple linear regression model to predict daily sales based on
A freshly brewed shot of espresso has three distinct components: the heart, body, and crema. The separation of these three components typically lasts only 10 to 20 seconds. To use the espresso shot in making a latte, a cappuccino, or another drink, the shot must be poured into the beverage during
A mail-order catalog business that sells personal computer supplies, software, and hardware maintains a centralized warehouse for the distribution of products ordered. Management is currently examining the process of distribution from the warehouse and has the business objective of determining the
What is the relationship between the price of crude oil and the price you pay at the pump for gasoline? The file oil & gasoline contains the price ($) for a barrel of crude oil(Cushing, Oklahoma, spot price) and a gallon of gasoline (U.S.average conventional spot price) for 231 weeks, ending May
In problem 12.7 on page 446 concerning the bag-sealing equipment at Starbucks, you used the plate gap to predict the tear rating.a. Is it necessary to compute the Durbin-Watson statistic in this case? explain.b. Under what circumstances is it necessary to compute the Durbin-Watson statistic before
The residuals for 15 consecutive time periods are as follows:a. plot the residuals over time. What conclusion can you reach about the pattern of the residuals over time?b. Compute the Durbin-Watson statistic. At the 0.05 level of significance, is there evidence of positive autocorrelation among the
The residuals for 10 consecutive time periods are as follows:a. plot the residuals over time. What conclusion can you reach about the pattern of the residuals over time?b. Based on (a), what conclusion can you reach about the autocorrelation of the residuals?
In problem 12.10 on page 446, you used box office gross to predict DVD revenue (stored in Movie ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard error of the estimate.c. How useful do you think this
In problem 12.9 on page 446, an agent for a real estate company wanted to predict the monthly rent for onebedroom apartments, based on the size of the apartment (stored in rent-SilverSpring ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its
In problem 12.8 on page 446, you used annual revenues to predict the value of a baseball franchise (stored in bbValues ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard error of the estimate.c. How useful do
In problem 12.7 on page 446, you used the plate gap on the bag-sealing equipment to predict the tear rating of a bag of coffee (stored in Starbucks ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard error of
In problem 12.6 on page 446, an owner of a moving company wanted to predict labor hours, based on the cubic feet moved(stored in Moving ). Using the results of that problem,a. determine the coefficient of determination, r2, and interpret its meaning.b. determine the standard error of the
In problem 12.5 on page 446, you used the summated rating to predict the cost of a restaurant meal (stored in restaurants ).For those data, SSR = 9,740.0629 and SST = 17,844.75.a. Determine the coefficient of determination, r2, and interpret its meaning.b. Determine the standard error of the
In problem 12.4 on page 445, the percentage of alcohol was used to predict wine quality (stored in VinhoVerde ). For those data, SSR = 21.8677 and SST = 64.0000.a. Determine the coefficient of determination, r2, and interpret its meaning.b. Determine the standard error of the estimate.c. How useful
If SSR = 120, why is it impossible for SST to equal 110?
If SSE = 12 and SSR = 28, compute the coefficient of determination, r2, and interpret its meaning.
If SSR = 66 and SST = 88, compute the coefficient of determination, r2, and interpret its meaning.
If SSR = 36 and SSE = 4, determine SST and then compute the coefficient of determination, r2, and interpret its meaning.
How do you interpret a coefficient of determination, r2 equal to 0.14?
A company that holds the DVD distribution rights to movies released only in theaters is trying to develop estimates of the sales revenue of DVDs. A company analyst plans to use box office gross to predict DVD sales revenue. For 22 movies, the analyst collects the box office gross (in $millions) in
An agent for a residential real estate company in a suburb located outside of Washington, DC, has the business objective of developing more accurate estimates of the monthly rental cost for apartments. Toward that goal, the agent would like to use the size of an apartment, as defined by square
The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The file bbValues represents the value in 2014 (in $millions) and the annual revenue (in $millions) for the 30 Major League Baseball franchises. (Data extracted from
A critically important aspect of customer service in a supermarket is the waiting time at the checkout (defined as the time the customer enters the line until they are served). Data were collected during time periods where there were a constant number of checkout counters open. The total number of
The owner of a moving company typically has his most experienced manager predict the total number of labor hours that will be required to complete an upcoming move. This approach has proved useful in the past, but the owner has the business objective of developing a more accurate method of
Zagat’s publishes restaurant ratings for various locations in the United States. The file restaurants contains the Zagat rating for food, décor, service, and the cost per person for a sample of 100 restaurants located in New York City and in a suburb of New York City. Develop a regression model
The production of wine is a multibillion-dollar worldwide industry. In an attempt to develop a model of wine quality as judged by wine experts, data was collected from red wine variants of portuguese “Vinho Verde” wine. (Data extracted from p. Cortez, Cerdeira, A., Almeida, F., Matos, T., and
Fitting a straight line to a set of data yields the following prediction line:Y ni = 16 - 0.5Xia. Interpret the meaning of the Y intercept, b0.b. Interpret the meaning of the slope, b1.c. predict the value of Y for X = 6.
If the values of X in problem 12.1 range from 2 to 25, should you use this model to predict the mean value of Y when X equalsa. 3?b. -3?c. 0?d. 24?
Fitting a straight line to a set of data yields the following prediction line.Y ni = 7 + 2Xia. Interpret the meaning of the Y-intercept, b0.b. Interpret the meaning of the slope, b1.c. predict the mean value of Y for X = 3.
Do Americans trust advertisements? The following table summarizes the results of a YouGov.com survey that asked Americans who see advertisements at least once a month how honest advertisements are.
A company is considering an organizational change involving the use of self-managed work teams. To assess the attitudes of employees of the company toward this change, a sample of 400 employees is selected and asked whether they favor the institution of self-managed work teams in the organization.
What social media tools do marketers commonly use?Social Media Examiner surveyed B2B and B2C marketers who commonly use an indicated social media tool. (B2B marketers are marketers that focus primarily on attracting businesses. B2C marketers are marketers that primarily target consumers.) Suppose
Undergraduate students at Miami University in Oxford, Ohio, were surveyed in order to evaluate the effect of gender and price on purchasing a pizza from Pizza Hut. Students were told to suppose that they were planning to have a large two-topping pizza delivered to their residence that evening. The
Under what conditions should you use the x2 test of independence?
Under what conditions should you use the x2 test to determine whether there is a difference among the proportions of more than two independent populations?
Under what conditions would you develop a two-way contingency table? For what purpose would such a table be used?
PwC takes a closer look at what CeOs are looking for and are finding as new sources of value in their businesses and industries. The results of the 2014 Global CeO survey, summarized in the table below, classified CeOs by the main opportunity that they identified for business growth in their
Where people look for news is different for various age groups. A study indicated where different age groups primarily get their news:At the 0.05 level of significance, is there evidence of a significant relationship between the age group and where people primarily get their news? If so, explain
How many airline loyalty programs do nonbusiness travelers belong to? A study by Parago, Inc., revealed the following results:
Is there a generation gap in the type of music that people listen to? The following table represents the type of favorite music for a sample of 1,000 respondents classified according to their age group:
A newspaper reported on preferred types of office communication by different age groups. Suppose the results were based on a survey of 500 respondents in each age group. The results are cross-classified in the table found below.At the 0.05 level of significance, is there evidence of a relationship
When performing a x2 test for 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 = 6, c = 3b. a = 0.01, r = 4, c = 5c. a = 0.01, r = 4, c = 6d. a = 0.01, r = 3, c = 6e. a
If a contingency table has three rows and four columns, how many degrees of freedom are there for the x2 test of independence?
The GMI Ratings’ 2013 Women on Boards Survey showed that progress on most measures of female board representation continues to be slow. The study reported that 68 of 101(67%) of French companies sampled, 148 of 212 (70%) of Australian companies sampled, 28 of 30 (93%) of Norwegian companies
A study reported that 48% of 16- to 29-year-olds, 42% of 30- to 49-year-olds, and 34% of 50- to 64-year-olds often listened to rock music. Suppose that the study was based on a sample size of 200 in each group.a. Is there evidence of a significant difference among the age groups with respect to the
Repeat (a) and (b) of Problem 11.16, assuming that only 50 decision makers involved in Big Data purchases for each company size were surveyed. Discuss the implications of sample size on the x2 test for differences among more than two populations.
Most companies consider Big Data analytics critical to success. However, is there a difference among small (6100 employees), mid-sized (100–999 employees), and large (1,000+ employees) companies in the proportion of companies that have already deployed Big Data projects? A study showed the
A digital CeO is one of five behaviors important to raising an organization’s Digital IQ. A survey of business and IT executives found that 80% of automotive executives, 70% of financial services executives, 82% of health care executives, 59% of retail& consumer executives, and 76% of technology
A survey of 1,000 adult Internet users found that 55% of the 18- to 24-year-olds, 60% of 25- to 34-year-olds, 64% of 35- to 49-year-olds, 78% of 50- to 64-year-olds, and 85% of 65- to 89-yearolds opposed online ads tailored to their individual interests. Suppose that the survey was based on 200
Use the following contingency table:a. Compute the expected frequencies for each cell.b. Compute x2 STAT. Is it significant at a = 0.001?
Use the following contingency table:a. Compute the expected frequency for each cell.b. Compute x2 STAT. Is it significant at a = 0.05?
Consider a contingency table with two rows and five columns.a. How many degrees of freedom are there in the contingency table?b. Determine the critical value for a = 0.10.c. Determine the critical value for a = 0.005.
Does co-browsing have positive effects on the customer experience? Co-browsing refers to the ability to have a contact center agent and customer jointly navigate an application (e.g., web page, digital document, or mobile application) on a real time basis through the web. A study of businesses
A/B testing is a method used by businesses to test different designs and formats of a web page to determine if a new web page is more effective than a current web page. Web designers tested a new call-to-action button on its web page. every visitor to the web page was randomly shown either the
Consumer research firm Scarborough analyzed the 10% of American adults who are either “Superbanked” or “Unbanked.” Superbanked consumers are defined as U.S. adults who live in a household that has multiple asset accounts at financial institutions, as well as some additional investments;
A survey was conducted of 660 consumer magazines on the practices of their websites. Of these, 287 magazines reported that online-only content is copy-edited as rigorously as print content;383 reported that online-only content is fact-checked as rigorously as print content. Suppose that a sample of
Do social recommendations increase ad effectiveness? A study of online video viewers compared viewers who arrived at an advertising video for a particular brand by following a social media recommendation link to viewers who arrived at the same video by web browsing. Data were collected on whether
An online survey of 1,000 adults asked, “What do you buy from your mobile device?” The results indicated that 61% of the females said clothes as compared to 39% of the males. (Data extracted from Ebates.com 2014 Mobile Shopping Survey: Nearly Half of Americans Shop from a Mobile Device,
Use the following contingency table:a. Compute the expected frequency for each cell.b. Compute x2 STAT. Is it significant at a = 0.05?
Use the following contingency table:a. Find the expected frequency for each cell.b. Compute x2 STAT. Is it significant at a = 0.01?
Determine the critical value of x2 with 1 degree of freedom in each of the following circumstances:a. a = 0.05b. a = 0.025c. a = 0.01
Determine the critical value of x2 with 1 degree of freedom in each of the following circumstances:a. a = 0.01b. a = 0.005c. a = 0.10
and 10.86 concerning the weight and granule loss of Boston and Vermont shingles, write a report that summarizes your conclusions.
Referring to the results of Problems
level of significance.)
An investor can choose from a very large number of mutual funds. each mutual fund has its own mix of different types of investments. The data in BestFunds3 present the one-year return for the 10 best small cap growth, mid-cap growth, and large cap growth funds, according to the U.S. News & World
level of significance.)
An investor can choose from a very large number of mutual funds. each mutual fund has its own mix of different types of investments. The data in BestFunds2 present the one-year return for the 10 best short-term bond, long-term bond, and world bond funds, according to the U.S. News & World Report.
level of significance.)
There are a very large number of mutual funds from which an investor can choose. each mutual fund has its own mix of different types of investments. The data in BestFunds1 present the one-year return for the 10 best short-term bond funds and the 10 best long-term bond funds, according to the U.S.
grams of granule loss if it is expected to last the length of the warranty period. The file granule contains a sample of 170 measurements made on the company’s Boston shingles and 140 measurements made on Vermont shingles. Completely analyze the differences in the granule loss of the Boston and
The manufacturer of Boston and Vermont asphalt shingles provides its customers with a 20-year warranty on most of its products. To determine whether a shingle will last as long as the warranty period, the manufacturer conducts accelerated-life testing. Accelerated-life testing exposes the shingle
The manufacturer of Boston and Vermont asphalt shingles knows that product weight is a major factor in the customer’s perception of quality. Moreover, the weight represents the amount of raw materials being used and is therefore very important to the company from a cost standpoint. The last stage
level of significance, is there evidence of a difference in the proportion who order dessert based on whether a beef entrée has been ordered?
level of significance, is there evidence of a difference between males and females in the proportion who order dessert?b. At the
The owner of a restaurant that serves Continental-style entrées has the business objective of learning more about the patterns of patron demand during the Friday-to-Sunday weekend time period. She decided to study the demand for dessert during this time period. In addition to studying whether a
A hotel manager looks to enhance the initial impressions that hotel guests have when they check in. Contributing to initial impressions is the time it takes to deliver a guest’s luggage to the room after check-in. A random sample of 20 deliveries on a particular day were selected in Wing A of the
The lengths of life (in hours) of a sample of 40 20-watt compact fluorescent light bulbs produced by manufacturer A and a sample of 40 20-watt compact fluorescent light bulbs produced by manufacturer B are stored in Bulbs . Completely analyze the differences between the lengths of life of the
Do Pinterest shoppers and Facebook shoppers differ with respect to spending behavior? A study of browser-based shopping sessions reported that Pinterest shoppers spent a mean of $153 per order and Facebook shoppers spent a mean of $85 per order. (Data extracted from bit.ly/14wG1YI.) Suppose that
A computer information systems professor is interested in studying the amount of time it takes students enrolled in the Introduction to Computers course to write a program in VB.NeT. The professor hires you to analyze the following results (in minutes), stored in VB , from a random sample of nine
The file restaurants contains the ratings for food, décor, service, and the price per person for a sample of 50 restaurants located in a city and 50 restaurants located in a suburb. Completely analyze the differences between city and suburban restaurants for the variables food rating, décor
level of significance, whether there is evidence of a difference in the mean number of text messages sent per month by women and men.
level of significance, is there evidence of a difference in the variances of the number of text messages sent per month by women and men?d. Based on the results of (c), use the most appropriate test to determine, at the
level of significance, is there evidence of a difference in the variances of the amount of time spent talking between women and men?b. To test for a difference in the mean talking time of women and men, is it most appropriate to use the pooled-variance t test or the separate-variance t test? Use
Do males and females differ in the amount of time they talk on the phone and the number of text messages they send? A study reported that women spent a mean of 818 minutes per month talking as compared to 716 minutes per month for men. (Data extracted from “Women Talk and Text More,” USA Today,
level of significance, is there a difference in the variance of the study time for male students and female students?b. Using the results of (a), which t test is appropriate for comparing the mean study time for male and female students?
Do male and female students study the same amount per week? In a recent year, 58 sophomore business students were surveyed at a large university that has more than 1,000 sophomore business students each year. The file StudyTime contains the gender and the number of hours spent studying in a typical
for a description of these titles in a Six Sigma quality improvement initiative.) Descriptive statistics concerning salaries for these two job titles are given in the following table:
The American Society for Quality (ASQ) conducted a salary survey of all its members. ASQ members work in all areas of manufacturing and service-related institutions, with a common theme of an interest in quality. Two job titles are black belt and green belt. (See Section
What are the three assumptions that you should make about the data when using one-way ANOVA F test?
Under what conditions should you use the one-way ANOVA F test to examine possible differences among the means of c independent populations?
What are the steps involved in the Tukey-Kramer procedure for one-way ANOVA?

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