Basic Business Statistics Concepts And Applications 13th Global Edition Mark Berenson, David Levine, Kathryn Szabat - Solutions

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1.24 The owner of an electronic store wants to conduct a survey to measure customer satisfaction for four different brands of washing machine purchased from his store over the past 12 months. His records indicate that 35 customers purchased brand A, 25 purchased brand B, 17 purchased brand C, and
1.23 The registrar of a university with a population of N = 4,200 full-time students is asked by the president to conduct a survey to measure students’ satisfaction with the quality of life on campus.The following table contains a breakdown of the 4,200 registered full-time students, by gender
1.22 The manager at a supermarket needs to select 10 out of 55 staff members to attend a professional training seminar. She must be unbiased in her selection. What type of sampling should the manager do? Explain how.
1.21 The principal of a school in Mumbai, India, wants to know each students’ favorite subject. The first-grade students will have different subject preferences than the sixth-graders. Which sampling method should the principal use to conduct an analysis that will deliver precise results?
1.20 The head of the student association at Taylor’s University, Malaysia, would like to know what students think of the university website. Since he is unable to get a list of all students enrolled at the university, he and other members of the association stand outside the university’s
1.19 Given a population of N = 60, starting in row 16, column 1 of the table of random numbers (Table E.1), and reading across the row, select a sample of n = 10a. without replacement.b. with replacement.APPLYING THE CONCEPTS
1.18 For a population of N = 950, verify that by starting in row 3, column 1 of the table of random numbers (Table E.1), you need only five rows to select a sample of n = 50 without replacement.
1.17 For a population containing N = 902 individuals, what code number would you assign fora. the ninth person on the list?b. the twentieth person on the list?c. the last person on the list?
1.16 A team of researchers is interested in analyzing the number of cars produced in Malaysia during the first six months of the year 2019. They visit the following website: https://tradingeconomics.com/malaysia/car-production to retrieve the necessary data for this analysis. What type of data
1.15 A study is conducted to analyze consumers’ satisfaction on Anna Sui perfumes sold at an outlet store. For the study, 500 customers who purchased any Anna Sui perfumes were interviewed.The result showed that 80% of the brand’s customers are satisfied with their purchase. What type of data
1.14 Visit the official website of Bureau of Economic Analysis of United States government at https://apps.bea.gov/iTable/iTable.cfm?ReqID=62&step=1#reqid=62&step=9&isuri=1&6210=4.Retrieve the necessary data for an analysis of the U.S. international trade in goods and services. What type of data
1.13 The possible effects of vitamin C and vitamin E on health is being studied. Vitamin C is taken in three different amounts of 100 mg, 250 mg, and 500 mg daily. At the same time, vitamin E can be taken either in 150 mg or 400 mg doses daily. How many different treatments are possible? List all
1.11 Anna Johnson decides to set up an ice cream booth outside a local high school. However, Anna wants to analyze a few things before starting her business.a. Indicate the type of data (based on the four scales: nominal, ordinal, interval, and ratio) that Anna might want to consider.b. Identify
1.10 If two employees who are working in the same division both earn an income of $1,500, what arguments could be used to show that the underlying variable—ability to earn—is continuous?
1.9 A survey is conducted among a group of people who use anxiety medication. In the survey, one of the questions included is about the number of days the respondent has been using the medication. In one format, the question is “Since how many days have you been using anxiety medication?” In
1.8 Suppose the following information is collected from a teenager about his desired telecommunication package that is being offered by a local telephone company.a. Desired telecommunication package: Postpaid 888GBb. Monthly pocket money: $500c. Average time spent daily on the Internet (in hours):
1.7 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 shopping trips a person made in the past monthb. A person’s preferred brand of coffeec. Amount
1.6 A university wants to link its e-learning system with one of the popular social media platforms for information-sharing activities.The different social media platforms under consideration are: Facebook, Instagram, Twitter, Skype, Blogger, and Friendster. Before selecting the platform, the
1.5 The following information is collected from a customer satisfaction survey conducted by a restaurant to help them drive customer loyalty and growth.a. Genderb. Number of food items boughtc. Number of visits to the restaurant in a weekd. Satisfaction on the variety of food and beverages
1.4 For each of the following variables, determine the type of scale used and whether the variable is categorical or numerical.a. IQ test scoresb. Car brand (Honda, BMW, Proton, or Toyota)c. Students’ performance rating scale (excellent to poor)d. Weight (in kilogram)e. Number of items sold per
1.3 The miles traveled by a company’s sales representatives last month are measured.a. Identify whether the miles traveled by sales representatives are numerical or categorical variables. Explain why.b. Determine the measurement scale for the miles traveled by the sales representatives. Explain
1.2 The age of a newborn baby is zero years old, which is an example of a numerical variable. Explain whether the age of a newborn baby is defined using an interval scale or a ratio scale.
1.1 Four different genres of movies are playing at a movie theater:comedy, action, romance, and drama.a. Identify whether the genre of movies is an example of a numerical or a categorical variable. Explain why.b. Determine the measurement scale for the genres of movies shown. Explain why.
A specialist in baseball analytics seeks to study which baseball teams were most similar in 2012. He has collected data in BB2012 related to ERA, saves, runs scored, hits allowed, walks allowed, and errors for the 2012 season.a. Perform a cluster analysis on the baseball teams.b. Perform a
A market research study has been conducted by a travel website that specializes in restaurants with the business objective of determining which types of foods are perceived to be similar and which are perceived to be different. The following 10 types of foods were studied:Japanese Mandarin
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, land area of the property (acres), interior size of the house (square feet), age (years), number of
A specialist in baseball analytics is interested in determining which variables are important in predicting a team’s wins in a given baseball season. He has collected data in BB2012 that includes the number of wins, ERA, saves, runs scored, hits allowed, walks allowed, and errors for the 2012
The file FTMBA contains a sample of 2012 top-ranked full-time MBA programs. Variables included are mean starting salary upon graduation ($), percentage of students with job offers within three months of graduation, program cost ($), and total number of students per program. (Data extracted from
Referring to the data in Problem 17.53,a. Using half the data as the training sample and the other half of the data as the validation sample, develop a regression tree model to predict wine quality. (Consider the entire set of variables in your analysis.)b. What conclusions can you reach about wine
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 Portuguese “Vinho Verde” wine. (Data extracted from P. Cortez, Cerdeira, A., Almeida, F.,
The file Currency2 contains the value of the Canadian dollar, English pound, and Euro for one U.S. dollar from 2002 to 2012.a. Construct sparklines for the value of the U.S. dollar in terms of the Canadian dollar, English pound, and Euro.b. What conclusions can you reach about the value of the
The file DomesticBeer2 contains the number of calories per 12 ounces and number of carbohydrates (in grams) per 12 ounces for a sample of 15 of the best-selling domestic beers in the United States. (Data extracted from www.beer100.com/beercalories.htm.)a. Visually evaluate the number of calories
What is the difference between drill-down and slicers method of data discovery?
Do gauge graphs and bullet graphs provide similar information? If yes, which one should statisticians choose?
How are computations carried in the three layers of multilayer perceptrons?
What kind of data can be effectively presented using treemaps?
How does sparklines add value to dashboards?
What is business analytics and what are its three categories? For what type of business is real-time monitoring more apparent?
A Pew Research Center survey found that social networking is popular in many nations around the world. The file GlobalSocialMedia contains the level of social media networking (measured as the percent of individuals polled who use social networking sites) and the GDP at purchasing power parity
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 multidimensional scaling analysis on the protein foods based on the calories and cholesterol, in grams.b. What
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 calories, carbohydrates, and sugar in grams.b. What conclusions can you reach about which cereals are most
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 worldwide gross (in $millions) of the Harry Potter movies.a. Perform a multidimensional scaling
A Pew Research Center survey found that social networking is popular in many nations around the world. The file GlobalSocialMedia contains the level of social media networking (measured as the percent of individuals polled who use social networking sites) and the GDP at purchasing power parity
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 analysis using the complete linkage method on the protein foods based on the calories and cholesterol, in
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 based on the calories, carbohydrates, and sugar in grams.b. What conclusions can you reach about which
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 worldwide gross (in $millions) of the Harry Potter movies.a. Perform a cluster analysis using the
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
In mining engineering, holes are often drilled through rock, using drill bits. As a drill hole gets deeper, additional rods are added to the drill bit to enable additional drilling to take place.It is expected that drilling time increases with depth. This increased drilling time could be caused by
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 process, an experiment was conducted (data extracted from L. Johnson and S. Burrows, “For Starbucks,
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 interested in the effectiveness of radio advertising and newspaper advertising (including the cost of
Undergraduate students at Miami University in Oxford, Ohio, were surveyed in order to evaluate the effect of price on the purchase of a pizza from Pizza Hut. The students were asked to suppose that they were going to have a large two-topping pizza delivered to their residence. Then they were asked
An automotive insurance company wants to predict which filed stolen vehicle claims are fraudulent, based on the number of claims submitted per year by the policy holder and whether the policy is a new policy, that is, is one year old or less (coded as 1 = yes, 0 = no). Data from a random sample of
A marketing manager wants to predict customers with risk of churning (switching their service contracts to another company)based on the number of calls the customer makes to the company call center and the number of visits the customer makes to the local service center. Data from a random sample of
A hotel has designed a new system for room service delivery of breakfast that allows the customer to select a specific delivery time. The file Satisfaction contains the difference between the actual and requested delivery times recorded (a negative time means that the breakfast was delivered before
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
In mining engineering, holes are often drilled through rock using drill bits. As a drill hole gets deeper, additional rods are added to the drill bit to enable additional drilling to take place. It is expected that drilling time increases with depth. This increased drilling time could be caused by
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 process, an experiment was conducted (data extracted from L. Johnson and S. Burrows, “For Starbucks,
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 interested in the effectiveness of radio advertising and newspaper advertising (including the cost of
Undergraduate students at Miami University in Oxford, Ohio, were surveyed in order to evaluate the effect of price on the purchase of a pizza from Pizza Hut. The students were asked to suppose that they were going to have a large two-topping pizza delivered to their residence. Then they were asked
An automotive insurance company wants to predict which filed stolen vehicle claims are fraudulent, based on the number of claims submitted per year by the policy holder and whether the policy is a new policy, that is, is one year old or less (coded as 1 = yes, 0 = no). Data from a random sample of
A marketing manager wants to predict customers with risk of churning (switching their service contracts to another company)based on the number of calls the customer makes to the company call center and the number of visits the customer makes to the local service center. Data from a random sample of
A hotel has designed a new system for room service delivery of breakfast that allows the customer to select a specific delivery time. The file Satisfaction contains the difference between the actual and requested delivery times (a negative time means that the breakfast was delivered before the
Using the sample of retirement funds stored in Retirement Funds , what is the type and market cap of the five-star fund with the highest five-year return?
Using the sample of retirement funds stored in Retirement Funds , which fund(s) in the sample have the lowest five-year return?
Using the sample of retirement funds stored in Retirement Funds , what five-year returns are associated with small market cap funds that have a rating of five stars?
Using the sample of retirement funds stored in Retirement Funds , what are the attributes of the fund with the highest five-year return?
Using the sample of retirement funds stored in Retirement Funds :a. Construct a table that tallies type, risk, and rating.b. Drill down to examine the growth funds with high risk with a rating of three. How many funds are there? What conclusions can you reach about these funds?
Using the sample of retirement funds stored in Retirement Funds :a. Construct a table that tallies market cap, risk, and rating.b. Drill down to examine the large cap funds that are high risk with a rating of three. How many funds are there? What conclusions can you reach about these funds?
Using the sample of retirement funds stored in Retirement Funds :a. Construct a table that tallies type, market cap, and rating.b. Drill down to examine the large cap growth funds with a rating of three. How many funds are there? What conclusions can you reach about these funds?
Using the sample of retirement funds stored in Retirement Funds :a. Construct a table that tallies type, market cap, and risk.b. Drill down to examine the large cap growth funds with high risk. How many funds are there? What conclusions can you reach about these funds?
Your task as a member of the International Strategic Management Team at your company is to investigate the potential for entry into a foreign market. As part of your initial investigation, you must provide an assessment of the economies of countries in the Americas and the Asia and Pacific regions.
The annual ranking of the FT Global 500 2013 provides a snapshot of the world’s largest companies. The companies are ranked by market capitalization—the greater the stock market value of a company, the higher the ranking. The market capitalizations (in $billions) and the 52-week change in
The value of a National Basketball Association (NBA)franchise has increased dramatically over the past few years. The value of a franchise varies based on the size of the city in which the team is located, the amount of revenue it receives, and the success of the team. The file NBAValues contains
Sales of automobiles in the United States fluctuate from month to month and year to year. The data in the file AutoSales represent the sales for various manufacturers in July 2013 and the change from July 2012 sales in percentages. (Data extracted from
Drive-through service time is an important quality attribute for fast food chains. The data in ServiceTime are the mean service times for Burger King, Chick-Fil-A, McDonald’s, and Wendy’s in 12 recent years. (Data extracted from bit.ly/qhvP3Zb.)a. Construct sparklines of the mean service times
From 2006 to 2012, the value of precious metals fluctuated dramatically. The file Metal Indices contains the total rate of return (in percentage) for platinum, gold, and silver from 2006 through 2012. (Data extracted from finance.yahoo.com, March 29, 2013.)a. Construct sparklines for rate of return
The file StockIndices contains the data that represent the total rate of return (in percentage) for the Dow Jones Industrial Average (DJIA), the Standard & Poor’s 500 (S&P 500), and the technology-heavy NASDAQ Composite (NASDAQ) from 2006 through 2012. Source: Data extracted from
Referring to the data in Problem 2.56 on page 96 concerning movie attendance between 2002 and 2012 (stored in Movie Attendance2 ):a. Construct a sparkline graph for the movie attendance between 2002 and 2012.b. What conclusions can you reach about the movie attendance between 2002 and 2012?c.
The file BBCost2012 contains the total cost (in $) for four tickets, two beers, four soft drinks, four hot dogs, two game programs, two baseball caps, and parking for one vehicle at each of the 30 Major League Baseball (MLB) parks during the 2012 season. (Data extracted from
A financial analyst was interested in comparing the priceto-book ratio (P/B) of drug companies. The analyst collected P/B ratios for 71 drug companies (Industry Group SIC 3 code: 283)and stored them as part of the file BusinessValuation .a. Visually evaluate the P/B ratios by constructing a bullet
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 file BestFunds1 contains the one-year return percentage and the three-year annualized return percentage for the ten best short-term bond and
The Edmunds.com NHTSA Complaints Activity Report is the result of the examination of the frequency, trends and composition of consumer vehicle complaint submissions at the automaker, brand, and category levels (data extracted from edmu.in/Ybmpuz). The table at the right, stored in Automaker1 ,
As a consultant to an investment company trading in various currencies, you have been assigned the task of studying long-term trends in the exchange rates of the Canadian dollar, the Japanese yen, and the English pound. Data from 1980 to 2012 are stored in Currency , where the Canadian dollar, the
Teachers’ Retirement System of the City of New York offers several types of investments for its members. Among the choices are investments with fixed and variable rates of return.There are several categories of variable-return investments. The Diversified Equity Fund consists of investments that
The data in the following table, stored in McDonalds , represent the gross revenues (in billions of current dollars) of McDonald’s Corporation from 1975 through 2012:
The monthly wellhead and residential prices for natural gas(dollars per thousand cubic feet) in the United States from January 2008 through December 2012 are stored in Natural Gas2 . (Data extracted from Energy Information Administration, U.S. Department of Energy, www.eia.gov, Natural Gas Monthly,
The U.S. Department of Labor gathers and publishes statistics concerning the labor market. The file Workforce contains data on the size of the U.S. civilian noninstitutional population of people 16 years and over (in thousands) and the U.S. civilian noninstitutional workforce of people 16 years and
The data in the following table, stored in Polio , represent the annual incidence rates (per 100,000 persons) of reported acute poliomyelitis recorded over five-year periods from 1915 to 1955:
What is pth-order autocorrelation? How does it help in formulating an autoregressive model of trend fitting and forecasting?
How are first, second and percentage differences used to determine a model?
How does the exponential smoothing method of time series differ from the moving average method?
What are the components of a time-series model? How can you determine which pattern exists over time and which model you should use?
What is the difference between time series and causal forecasting methods?
Explain the difference between qualitative and quantitative forecasting methods.
What is the importance of business forecasting?
Answer the following:a. How does standard error of estimate help in selecting an appropriate time series model?b. What is the main demerit of standard errors of estimate that lead to the introduction of mean absolute deviation?
What are the components of a time-series model? When does an annual time series require smoothing? Explain the moving average method of smoothing time series data and forecasting.
The file Gold contains the price in London for an ounce of gold (in US$) at the end of each quarter from 2004 through 2012. (Data extracted from bit.ly/1afifi.)a. Plot the data.b. Develop an exponential trend forecasting equation with quarterly components.c. Interpret the quarterly compound growth
The file Silver-Q contains the price in London for an ounce of silver (in US$) at the end of each quarter from 2004 through 2012. (Data extracted from bit.ly/1afifi.)a. Plot the data.b. Develop an exponential trend forecasting equation with quarterly components.c. Interpret the quarterly compound
The file CallCenter contains the monthly call volume for an existing product. (Data extracted from S. Madadevan and J.Overstreet, “Use of Warranty and Reliability Data to Inform Call Center Staffing,” Quality Engineering 24 (2012): 386–399.)a. Construct the time-series plot.b. Describe the

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Basic Business Statistics Concepts And Applications 13th Global Edition Mark Berenson, David Levine, Kathryn Szabat - Solutions

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