Questions and Answers of Business Statistics A First Course

What is the six-step p-value approach to hypothesis testing?
Under what conditions should you use the F test to examine possible differences in the variances of two independent populations?
What are the assumptions of ANOVA?
What is the interpretation of the coefficient of determination?
When and how do you use the Durbin-Watson statistic?
The business problem facing a consumer products company is to measure the effectiveness of different types of advertising media in the promotion of its products. Specifically, the company is
Starbucks Coffee Co. uses a data-based approach for improving the quality and customer satisfaction of its products. When survey data indicated that Starbucks needed to improve its package sealing
Movie companies need to predict the gross receipts of individual movies once the movie has debuted. The following results, stored in PotterMovies , are the first weekend gross, the U.S. gross, and
The file Cereals contains the calories, carbohydrates, and sugar, in grams, in one serving of seven breakfast cereals.a. Perform a cluster analysis using the complete linkage method on the cereals
The file Protein contains calorie and cholesterol information for popular protein foods (fresh red meats, poultry, and fish) compiled by the U.S. Department of Agriculture.a. Perform a cluster
Movie companies need to predict the gross receipts of individual movies once the movie has debuted. The following results, stored in PotterMovies , are the first weekend gross, the U.S. gross, and
The file Cereals contains the calories, carbohydrates, and sugar, in grams, in one serving of seven breakfast cereals.a. Perform a multidimensional scaling analysis on the cereals based on the
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 were collected from red and white wine variants of
The file FTMBA contains a sample of top-ranked full-time MBA programs. Variables included are mean starting salary upon graduation ($), percentage of students with job offers within three months of
Nassau County is located approximately 25 miles east of New York City. Data in GlenCove are from a sample of 30 single-family homes located in Glen Cove. Variables included are the fair market value,
In recent years, the share of Greek yogurts in the U.S. yogurt market has grown from 1% to over 50%, greatly increasing the variety of Greek yogurts available for sale. The file Yogurt contains the
For each of the following variables, determine whether the variable is categorical or numerical. If the variable is numerical, determine whether the variable is discrete or continuous.a. Number of
The following information is collected from students upon exiting the campus bookstore during the first week of classes.a. Amount of time spent shopping in the bookstoreb. Number of textbooks
For each of the following variables, determine whether the variable is categorical or numerical. If the variable is numerical, determine whether the variable is discrete or continuous.a. Name of
For each of the following variables, determine whether the variable is categorical or numerical. If the variable is numerical, determine whether the variable is discrete or continuous.a. Amount of
Suppose the following information is collected from Robert Keeler on his application for a home mortgage loan at the Metro County Savings and Loan Association.a. Monthly payments: $2,227b. Number of
One of the variables most often included in surveys is income. Sometimes the question is phrased, “What is your income (in thousands of dollars)?” In other surveys, the respondent is asked to
If two students both score 90 on the same examination, what arguments could be used to show that the underlying variable—test score—is continuous?
The director of market research at a large department store chain wanted to conduct a survey throughout a metropolitan area to determine the amount of time working women spend shopping for clothing
The registrar of a university with a population of N = 4,000 full-time students is asked by the president to conduct a survey to measure satisfaction with the quality of life on campus. The following
The American Community Survey (www.census.gov/acs) provides data every year about communities in the United States. Addresses are randomly selected, and respondents are required to supply answers to
Visit the home page of the Statistics Portal “Statista” at www .statista.com. Examine one of the “Popular infographic topics” in the Infographics section on that page. What type of data
For a population containing N = 902 individuals, what code number would you assign fora. The first person on the list?b. The fortieth person on the list?c. The last person on the list?
Given a population of N = 93, starting in row 29, column 01 of the table of random numbers (Table E.1), and reading across the row, select a sample of N = 15a. without replacement.b. with replacement.
The cell phone brands owned by a sample of 20 respondents were: Apple, Samsung, Appel, Nokia, Blackberry, HTC, Apple, Samsung, HTC, LG, Blueberry, Samsung, Samsung, APPLE, Motorola, Apple, Samsun,
An amusement park company owns three hotels on an adjoining site. A guest relations manager wants to study the time it takes for shuttle buses to travel from each of the hotels to the amusement park
A hotel management company runs 10 hotels in a resort area. The hotels have a mix of pricing—some hotels have budgetpriced rooms, some have moderate-priced rooms, and some have deluxe-priced rooms.
A simple random sample of n = 300 full-time employees is selected from a company list containing the names of all N = 5,000 full-time employees in order to evaluate job satisfaction.a. Give an
Results of a 2017 Computer Services, Inc. (CSI) survey of a sample of 163 bank executives reveal insights on banking priorities among financial institutions (goo.gl/ mniYMM). As financial
A recent PwC survey of 1,379 CEOs from a wide range of industries representing a mix of company sizes from Asia, Europe, and the Americas indicated that CEOs are firmly convinced that it is harder to
A recent survey points to tremendous revenue potential and consumer value in leveraging driver and vehicle data in the automobile industry. The 2017 KPMG Global Automotive Executive Study found that
What is the difference between a sample and a population?
What is the difference between a statistic and a parameter?
What is the difference between a discrete numerical variable and a continuous numerical variable?
What is the difference between unstacked and stacked variables?
What is the difference between sampling error and measurement error?
Visit the official website for Microsoft Excel (products.office.com/excel), Minitab (www.minitab.com), or JMP (www.jmp.com). Review the features of the program you chose and then state the ways the
Results of a 2017 Computer Services, Inc. (CSI) survey of a sample of 163 bank executives reveal insights on banking priorities among financial institutions (goo.gl/mniYMM). As financial institutions
The Gallup organization releases the results of recent polls on its website, www.gallup.com. Visit this site and read an article of interest.a. Describe the population of interest.b. Describe the
A recent PwC survey of 1,379 CEOs from a wide range of industries representing a mix of company sizes from Asia, Europe, and the Americas indicated that CEOs are firmly convinced that it is harder to
The American Community Survey (www.census.gov/acs) provides data every year about communities in the United States. Addresses are randomly selected and respondents are required to supply answers to a
Download and examine Zarca Interactive’s “Sample Survey for Associations/Sample Questions for Surveys for Associations,” available at bit.ly/2p5HlGO.a. Give an example of a categorical variable
Three professors examined awareness of four widely disseminated retirement rules among employees at the University of Utah. These rules provide simple answers to questions about retirement planning
The Energy Information Administration reported the following sources of electricity in the United States in July 2017.What conclusions can you reach about the source of energy in July 2017?
The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category, and company. The following table, stored in FinancialComplaints1,
The following table, stored in Smartphone Sales , represents the annual market share (percentage) of smartphones, by type, for the years 2011 through 2016.a. What conclusions can you reach about the
A sample of companies were asked three questions about analytics and artificial intelligence usage and their answers stored in Business Analytics , Machine Learning , and Self-learning Robots . The
Social media provides an enormous amount of data about the activities and habits of people using social platforms like Facebook and Twitter. The belief is that mining that data provides a treasure
Timetric’s 2016 survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these
A survey of 1,520 Americans adults asked “Do you feel overloaded with too much information?” The results indicate that 23% of females feel information overload compared to 17% of males. The
Planning and preparing for the unexpected, especially in response to a security incident, is one of the greatest challenges faced by information technology professionals today. An incident is
A study of selected Kickstarter projects showed that overall a majority were successful, achieving their goal and raising, at a minimum, the targeted amounts. In an effort to identify project types
The file NBACost contains the total cost ($) for four tickets purchased on the secondary market, two beers, two soft drinks, two hot dogs, and one parking space at each of the 30 National Basketball
The file Utility contains the following data about the cost of electricity (in $) during July 2018 for a random sample of 50 one-bedroom apartments in a large city.a. Construct a frequency
An Ipsos poll 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 males
Data were collected on salaries of compliance specialists in corporate accounting firms. The salaries ranged from $61,000 to $261,000.a. If these salaries were grouped into six class intervals,
Call centers today play an important role in managing day-today business communications with customers. Call centers must be monitored with a comprehensive set of metrics so that businesses can
How much time do commuters living in or near cities spend commuting to work each week? The file CommutingTime contains the average weekly commuting time in 30 U.S. cities.For the weekly commuting
How do college students spend their day? The 2016 American Time Use Survey for college students found the following results:a. Construct a bar chart, a pie or doughnut chart, and a Pareto chart.b.
The file Drink contains the following data for the amount of soft drink (in liters) in a sample of fifty 2-liter bottles:a. Construct a cumulative percentage distribution.b. On the basis of the
How do the average credit scores of people living in different American cities differ? The data in Credit Scores is an ordered array of the average credit scores of 2,570 American cities.a. Construct
The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category, and company. The following table, stored in FinancialComplaints1 ,
One operation of a mill is to cut pieces of steel into parts that will later be used as the frame for front seats in an automobile. The steel is cut with a diamond saw and requires the resulting
The following table indicates the percentage of residential electricity consumption in the United States, in a recent year organized by type of use.a. Construct a bar chart, a pie chart, and a Pareto
The file Bulbs contains the life (in hours) of a sample of forty 6-watt light emitting diode (LED) light bulbs produced by Manufacturer A and a sample of forty 6-watt LED light bulbs produced by
The Energy Information Administration reported the following sources of electricity in the United States in July 2017:a. Construct a Pareto chart.b. What percentage of power is derived from coal,
Timetric’s 2016 survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these
A survey of online shoppers revealed that in a recent year they bought more of their purchases online than in stores. The data in OnlineShopping reveals how their purchases were made.a. Construct a
A study of selected Kickstarter projects showed that overall a majority were successful, achieving their goal and raising, at a minimum, the targeted amounts. In an effort to identify project types
A survey of 1,520 American adults asked, “Do you feel overloaded with too much information?” The results indicate that 23% of females feel information overload compared to 17% of males. The
The following is a stem-and-leaf display representing the gallons of gasoline purchased (with leaves in tenths of gallons), for a sample of 25 cars that use a particular service station on the New
The file Utility contains the following data about the cost of electricity during July of a recent year for a random sample of 50 one-bedroom apartments in a large city:a. Construct a histogram and a
As player salaries have increased, the cost of attending baseball games has increased dramatically. The following histogram visualizes the total cost (in $) for two tickets, two beers, two hot dogs,
The following histogram and cumulative percentage polygon on page 70 visualize the data about the property taxes on a $176K home for the 50 states and the District of Columbia, stored in Property
Ipsos polled 1,004 adults asking them, “If purchasing a used car made certain upgrades or features more affordable, what would be your preferred luxury upgrade?” The summarized results show that
The file NBACost contains the total cost (in $) for four tickets purchased on the secondary market, two beers, two soft drinks, four hot dogs, and one parking space at each of the 30 NBA basketball
The file MobileSpeed contains the overall download and upload speeds in mbps for nine carriers in the United States.a. Construct an ordered array.b. Construct a stem-and-leaf display.c. Does the
How much time do Americans living in cities spend commuting to work each week? The file CommutingTime contains these times for 30 cities. For the time Americans living in cities spend commuting to
How do the average credit scores of people living in various cities differ? The file Credit Scores contains an ordered array of the average credit scores of 2,570 American cities.a. Construct a
The financial services call center in Problem 2.44 also monitors call duration, which is the amount of time spent speaking to customers on the phone. The file CallDuration contains the following data
One operation of a mill is to cut pieces of steel into parts that will later be used as the frame for front seats in an automobile. The steel is cut with a diamond saw and requires the resulting
Movie companies need to predict the gross receipts of individual movies once a movie has debuted. The following results, stored in PotterMovies , are the first weekend gross, the U.S. gross, and the
Examine the following visualization, adapted from one that appeared in the post “Who Are the Comic Book Fans on Facebook?” on February 2, 2013, as reported by graphicspolicy.com.a. Describe at
The file Movie Attendance contains the yearly movie attendance (in billions) from 2001 through 2016.a. Construct a time-series plot for the movie attendance (in billions).b. What pattern, if any, is
The file Bulbs contains the life (in hours) of a sample of forty 6-watt LED (light emitting diode) light bulbs produced by Manufacturer A and a sample of forty 6-watt LED light bulbs produced by
The data stored in Drink represents the amount of soft drink in a sample of fifty 2-liter bottles.a. Construct a histogram and a percentage polygon.b. Construct a cumulative percentage polygon.c. On
Data were collected on the typical cost of dining at Americancuisine restaurants within a 1-mile walking distance of a hotel located in a large city. The file Bundle contains the typical cost (a per
The file MobileSpeed contains the overall download and upload speeds in mbps for nine carriers in the United States.a. Do you think that carriers with a higher overall download speed also have a
A Pew Research Center survey found a noticeable rise in smartphone ownership and Internet usage in emerging and developing nations. Once online, adults in these nations are hungry for social
Using the sample of retirement funds stored in Retirement Funds :a. Construct a table that tallies Fund Type, Market Cap, Risk Level, and Star Rating.b. What conclusions can you reach concerning
The file NewHomeSales contains the number of new homes sold (in thousands) and the median sales price of new single-family houses sold in the United States recorded at the end of each month from
The Super Bowl is a big viewing event watched by close to 200 million Americans that is also a big event for advertisers. The file SuperBowlAds contains the number of ads that ran between the opening
Using the sample of retirement funds stored in Retirement Funds :a. Construct a table that tallies Fund Type, Market Cap, and Star Rating.b. What conclusions can you reach concerning differences
Using the sample of retirement funds stored in Retirement Funds:a. Construct a table that tallies, Market Cap, Risk Level, and Star Rating.b. What conclusions can you reach concerning differences
Using the sample of retirement funds stored in Retirement Funds :a. Construct a table that tallies Fund Type, Risk Level, and Star Rating.b. What conclusions can you reach concerning differences

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