New Semester
Started
Get
50% OFF
Study Help!
--h --m --s
Claim Now
Question Answers
Textbooks
Find textbooks, questions and answers
Oops, something went wrong!
Change your search query and then try again
S
Books
FREE
Study Help
Expert Questions
Accounting
General Management
Mathematics
Finance
Organizational Behaviour
Law
Physics
Operating System
Management Leadership
Sociology
Programming
Marketing
Database
Computer Network
Economics
Textbooks Solutions
Accounting
Managerial Accounting
Management Leadership
Cost Accounting
Statistics
Business Law
Corporate Finance
Finance
Economics
Auditing
Tutors
Online Tutors
Find a Tutor
Hire a Tutor
Become a Tutor
AI Tutor
AI Study Planner
NEW
Sell Books
Search
Search
Sign In
Register
study help
business
business statistics communicating
Business Statistics A Decision Making Approach 8th Edition David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith - Solutions
A survey was done on a selected tourism industry and the following are the variables in the annual data on the tourism industry. Indicate the level of measurement scale for the following variables:a. The age for employed persons.b. The permanency of job (permanent or temporary).c. The average
For each of the following variables, indicate its level of measurement scale (nominal, ordinal, interval, or ratio):a. Calendar years: 00 for 2000, 01 for 2001, etc.b. Runners in the 100-meter dash finish: 1st, 2nd, and 3rd.c. Time of day on a 24-hour clock.d. Percentage return on investment.
As part of an economics research study, an analyst has accessed data compiled by the U.S. Bureau of Labor Statistics. The data are in a file named BLS County Data (source: www.ers.usda.gov). Consider the data in columns A-L, and indicate what level of data is represented by the variables in each
The following information on 15 different real estate investment trusts (REITs) has been collected. Identify whether the data collected are cross-sectional or time-series:a. income distribution by region in 2016b. per-share funds from operations (FFO) for the years 2012–2016c. number of
Suppose the following information is found in a petroleum company’s annual report to shareholders.Indicate the level of data measurement for each:a. a list of countries where the company has exploration and production activityb. the number of operating oil rigsc. dollars spent during the year for
A company’s human resources department wants to pick a sample of employees from the total of 500 employees in the company and ask how they feel about company policies. The employees’ list in alphabetical order is used for the study where every 10th employee will be selected to the sample.a.
What is the difference between ordinal and nominal data?
What is the difference between qualitative and quantitative data?
Mount Hillsdale Hospital has 4,000 patient files listed alphabetically in its computer system. The office manager wants to survey a statistical sample of these patients to determine how satisfied they were with service provided by the hospital. She plans to use a telephone survey of 100 patients.a.
Sysco Foods has a very large warehouse in which the food is stored until it is pulled from the shelves to be delivered to the customers. The warehouse has 64 storage racks numbered 1-64. Each rack is three shelves high, labeled A, B, and C, and each shelf is divided into 80 sections, numbered
The human resources manager of a university e-mailed a survey questionnaire to his 150 employees in the company. The sample included 50 employees randomly selected from each of the category of administration, teaching staff, and non-teaching staff. What sampling method was used by the manager?
To determine the customers’ satisfaction on the electronic products they purchased, the customer service manager selected the hairdryer made by his company for his study. He included a simple set of survey questionnaires in the hairdryer sold in the past 12 months for the customers to feedback
Describe how Kris plans to use the systematic sampling method to sample 100 securities listed on the New York Stock Exchange. Assume that the Wall Street Journal has 2,531 securities listed in the “New York Exchange Composite Transactions” in an alphabetical order.
The population in a public university is 7,000 students and you want to sample 200 students. How would you sample these students systematically?
It is toward the year end and you are interested to estimate how much holiday shopping people in Malaysia plan to do this year. Tomorrow is a public holiday and you decided to go out to a shopping mall to ask people about their shopping plans. Do you have bias in your sampling process?
An experimental study found that students who turn up to seminars in addition to lectures get better marks than those students who only turn up to lectures. Justify which validity needs to be concerned.
Identify the data collection method to be used for the following situations with justification:a. Parents collecting information on a training facility whether it is conducive for their children to attend.b. Steven needs to buy a bulb, that is brighter than he is having now. He is selecting a bulb
Justify whether open-ended questions may improve accuracy of patient’s medication.
Justify whether a survey can be done through the Internet and determine its efficiency.
State an advantage and a disadvantage for the experiments and direct observations to show their differences.
The following data were collected on the voters participating in a recent election based on their political party affiliation. The coding for the data is as follows:1 = Republican 2 = Democrat 3 = Independent 3 1 2 3 1 3 3 2 1 3 3 2 1 1 3 2 3 1 3 2 3 2 1 1 3 Construct an appropriate graph for the
Locate a business periodical such as Fortune or Forbes or a business newspaper such as The Wall Street Journal. Find three examples of the use of a graph to display data. For each graph,a. Give the name, date, and page number of the periodical in which the graph appeared.b. Describe the main point
Review Figures 1.2 and 1.3 and discuss any differences you see between the histogram and the bar chart.
Consider the following graph that appeared in a company annual report. What type of graph is this? Explain.
A random sample of 15 articles in a Fortune revealed the following word counts per article:5,176 6,005 5,052 5,310 4,188 4,132 5,736 5,381 4,983 4,423 5,002 4,573 4,209 5,611 4,568 Compute the mean, median, first quartile, and third quartile for these sample data.
The following data reflect the number of defects produced on an assembly line at the Dearfield Electronics Company for the past 8 days.3 0 2 0 1 3 5 2 5 1 3 0 0 1 3 3 4 3 1 8 4 2 4 0a. Compute the mean number of defects for this population of days.b. Compute the median number of defects produced
A European cereal maker recently sampled 20 of its medium-size oat cereal packages to determine the weights of the cereal in each package. These sample data, measured in ounces, are as follows:14.7 16.3 14.3 14.2 18.7 13.2 13.1 14.4 16.2 12.8 13.6 17.1 14.4 11.5 15.5 15.9 13.8 14.2 15.1 13.5
The time (in seconds) that it took for each of 16 vehicles to exit a parking lot in downtown Cincinnati is 106 153 169 116 135 78 51 129 100 141 72 101 130 125 128 139 Compute the mean, median, first quartile, and third quartile for the sample data.
A random sample of the miles driven by 20 rental car customers is shown as follows:90 85 100 150 125 75 50 100 75 60 35 90 100 125 75 85 50 100 50 80 Develop a box and whisker plot for the sample data.
Examine the following data:23 65 45 19 35 28 39 100 50 26 25 27 24 17 12 106 23 19 39 70 20 18 44 31a. Compute the quartiles.b. Calculate the 90th percentile.c. Develop a box and whisker plot.d. Calculate the 20th and the 30th percentiles.
Consider the following data that represent the commute distances for students who attend Emory University:3.1 4.7 8.4 11.6 12.1 13.0 13.4 16.1 17.3 20.8 22.8 24.3 26.2 26.6 26.7 31.2 32.2 35.8 35.8 39.8a. Determine the 80th percentile.b. Determine numbers that are the 25th and 75th percentiles.c.
A professor wishes to develop a numerical method for giving grades. He intends to base the grade on homework, two midterms, a project, and a final examination. He wishes the final exam to have the largest influence on the grade. He wants the project to have 10%, each midterm to have 20%, and the
The manager for the Jiffy Lube in Saratoga, Florida, has collected data on the number of customers who agreed to purchase an air filter when they were also having their oil changed. The sample data are shown as follows:21 19 21 19 19 20 18 12 20 19 17 14 21 22 25 21 22 23 10 19 25 14 17 18a.
During the past few years, there has been a lot of discussion about the price of university textbooks. The complaints have come from many places, including students, faculty, parents, and even government officials. The publishing companies have been called on to explain why textbooks cost so much.
The Xang Corporation operates five clothing suppliers in China to provide merchandise for Nike. Nike recently sought information from the five plants.One variable for which data were collected was the total money (in U.S. dollars) the company spent on medical support for its employees in the first
The Tru-Green Lawn Company provides yard care services for customers throughout the Denver area.The company owner recently tracked the time his field employees spent at a sample of customer locations.He was hoping to use these data to help him with his scheduling and to establish billing rates. The
Eastern States Bank and Trust monitors its drive-thru service times electronically to ensure that its speed of service is meeting the company’s goals. A sample of 28 drive-thru times was recently taken and is shown here.Speed of Service (time in seconds)83 138 145 147 130 79 156 156 90 85 68 93
Todd Lindsey & Associates, a commercial real estate company located in Boston, owns six office buildings in the Boston area that it leases to businesses. The lease price per square foot differs by building due to location and building amenities. Currently, all six buildings are fully leased at the
Business Week recently reported that L. G. Philips LCD Co. would complete a new factory in Paju, South Korea. It will be the world’s largest maker of liquidcrystal display panels. The arrival of the plant means that flat-panel LCD televisions would become increasingly affordable. The average
Wageweb.com exhibits salary data obtained from surveys. It provides compensation information on over 170 benchmark positions, including finance positions.It reports the salaries of chief finance officers for midsized firms. Suppose that a sample is taken of the annual salaries for 25 CFOs. Assume
The Federal Deposit Insurance Corporation (FDIC)insures deposits in banks and thrift institutions for up to $250,000. Before the banking crisis of late 2008, there were 8,885 FDIC–insured institutions, with deposits of $6,826,804,000,000. Bank of America had deposits of $681,570,000,000 in nearly
Each year, Business Week publishes information and rankings of master of business administration (MBA)programs. The data file MBA Analysis contains data on several variables for eight reputable MBA programs as presented in the October 2, 2000, issue of Business Week. The variables include pre–
Before the sub-prime loan crisis and the end of the“housing bubble” in 2008 the value of houses was escalating rapidly, as much as 40% a year in some areas. In an effort to track housing prices the National Association of Realtors developed the Pending Home Sales Index (PHSI), a new leading
Homeowners and businesses pay taxes on the assessed value of their property. As a result, property taxes can be a problem for elderly homeowners who are on a fixed retirement income. Whereas these retirement incomes remain basically constant, because of rising real estate prices the property taxes
USA Today reported a survey made by Nationwide Mutual Insurance that indicated the average amount of time spent to resolve identity theft cases was 81 hours.The file entitled Theft contains data that would produce this statistic.a. Construct a stem and leaf display. Indicate the shape of data
Google is noted for its generous employee benefits.The following data reflect the number of vacation days that a sample of employees at Google have left to take before the end of the year:3 0 2 0 1 3 5 2 5 1 3 0 0 1 3 3 4 3 1 8 4 2 4 0a. Compute the range for these sample data.b. Compute the
The following data are the population of ages of students who have recently purchased a sports video game:16 15 17 15 15 15 14 9 16 15 13 10 8 18 20 17 17 17 18 23 7 15 20 10 14 14 12 12 24 21a. Compute the population variance.b. Compute the population standard deviation.
A county library in Minnesota reported the following number of books checked out in 15 randomly selected months:5,176 6,005 5,052 5,310 4,188 4,132 5,736 5,381 4,983 4,423 5,002 4,573 4,209 5,611 4,568 Determine the range, variance, and standard deviation for the sample data.
The following data show the number of hours spent watching television for 12 randomly selected freshmen attending a liberal arts college in the Midwest:Hours of Television Viewed Weekly 7.5 11.5 14.4 7.8 13 10.3 5.4 12 12.2 8.9 8.5 6.6 Calculate the range, variance, standard deviation, and
Consider the following two separate samples:27 27 25 12 15 10 20 37 31 35 and 1 3 2 16 18 16 16 4 16 118a. Calculate the range, variance, standard deviation, and interquartile range for each data set.b. Which data set is most spread out based on these statistics?c. Now remove the largest number
The following set of data shows the number of alcoholic drinks that students at a Kansas university reported they had consumed in the past month:24 16 23 26 30 21 15 9 18 27 14 6 14 10 12a. Assume the data set is a sample. Calculate the range, variance, standard deviation, and interquartile range
Easy Connect, Inc., provides access to computers for business uses. The manager monitors computer use to make sure that the number of computers is sufficient to meet the needs of the customers. Recently, the manager collected data on a sample of customers and tracked the time the customers started
A random sample of 20 pledges to a public radio fundraiser revealed the following dollar pledges:90 85 100 150 125 75 50 100 75 60 35 90 100 125 75 85 50 100 50 80a. Compute the range, variance, standard deviation, and interquartile range for these sample data.b. Briefly explain the difference
The branch manager for the D. L. Evens Bank has been asked to prepare a presentation for next week’s board meeting. At the presentation, she will discuss the status of her branch’s loans issued for recreation vehicles(RVs). In particular, she will analyze the loan balances for a sample of 10 RV
A parking garage in Memphis monitors the time it takes customers to exit the parking structure from the time they get in their car until they are on the streets.A sample of 28 exits was recently taken and is shown here.Garage Exit (time in seconds)83 138 145 147 130 79 156 156 90 85 68 93 178 76 73
The Bureau of Labor Statistics in its Monthly Labor Review published the “over-the-month” percent change in the price index for imports from April 2004 to April 2005. These data are reproduced next.Month Apr May Jun Jul Aug Sep Oct Index 0.2 1.5 –0.2 0.4 1.5 0.5 1.6 Month Nov Dec Jan Feb Mar
The U.S. Government Accountability Office recently indicated the price of college textbooks has been rising an average of 6% annually since the academic year 1987–1988. The report estimated that the average cost of books and supplies for first-time, full-time students at four-year public
Each year, Business Week publishes information and rankings of MBA programs. The data file MBA Analysis contains data on several variables for eight reputable MBA programs as presented in the October 2, 2000, issue of Business Week. The variables include pre– and post–MBA salary, percentage
Executive MBA programs have become increasingly popular. In an article entitled “The Best Executive MBAs,” Business Week provided data concerning the top 25 executive MBA programs. The tuition for each of the schools selected was given. A file entitled EMBA contains this data.a. Calculate the
When PricewaterhouseCoopers Saratoga released its 2005/2006 Human Capital Index Report it indicated that the average hiring cost for an American company to fill a job vacancy in 2004 was $3,270. Sample data for recent job hires is in a file entitled Hired.a. Calculate the variance and standard
Consider the following set of sample data:78 121 143 88 110 107 62 122 130 95 78 139 89 125a. Compute the mean and standard deviation for these sample data.b. Calculate the coefficient of variation for these sample data and interpret its meaning.c. Using Tchebysheff’s theorem, determine the range
You are given the following parameters for two populations:Population 1 Population 2 m 700 m 29,000 s 50 s 5,000a. Compute the coefficient of variation for each population.b. Based on the answers to parta, which population has data values that are more variable relative to the size of the
Given two distributions with the following characteristics:Distribution A Distribution B m 45,600 m 33.40 s 6,333 s 4.05 If a value from distribution A is 50,000 and a value from distribution B is 40.0, convert each value to a standardized z value and indicate which one is relatively closer
The following data represent random samples taken from two different populations, A and B:A 31 10 69 25 62 61 46 74 57 B 1,030 1,111 1,155 978 943 983 932 1,067 1,013a. Compute the mean and standard deviation for the sample data randomly selected from population A.b. Compute the mean and standard
Consider the following sample:22 46 25 37 35 84 33 54 80 37 76 34 48 86 41 13 49 45 62 47 72 70 91 51 91 43 56 25 12 65a. Calculate the mean and standard deviation for this data.b. Determine the percentage of data values that fall in each of the following intervals:.c. Compare these with the
Consider the following population:71 89 65 97 46 52 99 41 62 88 73 50 91 71 52 86 92 60 70 91 73 98 56 80 70 63 55 61 40 95a. Determine the mean and variance.b. Determine the percentage of data values that fall in each of the following intervals: x 2s, x 3s, x 4s.c. Compare these with the
Pfizer, Inc., a major U.S. pharmaceutical company, is developing a new drug aimed at reducing the pain associated with migraine headaches. Two drugs are currently under development. One consideration in the evaluation of the medication is how long the painkilling effects of the drugs last. A random
Wells Fargo Bank’s call center has representatives that speak both English and Spanish. A random sample of 11 calls to English-speaking service representatives and a random sample of 14 calls to Spanish-speaking service representatives was taken and the time to complete the calls was measured.
Lockheed-Martin is a supplier for the aerospace industry. Recently, the company was considering switching to Cirus Systems, Inc., a new supplier for one of the component parts it needs for an assembly. At issue is the variability of the components supplied by Cirus Systems, Inc., compared to that
Anaheim Human Resources, Inc., performs employment screening for large companies in southern California. It usually follows a two-step process. First, potential applicants are given a test that covers basic knowledge and intelligence. If applicants score between a certain range, they are called in
Airfare prices were collected for a round-trip from Los Angeles (LAX) to San Francisco (SFO). Airfare prices were also collected for a round-trip from Los Angeles(LAX) to Barcelona, Spain (BCN). Airfares were obtained for the designated and nearby airports. The passenger was to fly coach class
Doing business internationally is no longer something reserved for the largest companies. In fact, mediumsize and, in some cases, even small companies are finding themselves with the opportunity to do business internationally. One factor that will be important for world trade is the growth rate of
At almost every university in the United States, the university computes student grade point averages(GPAs). The following scale is typically used by universities:A 4 points B 3 points C 2 points D 1 point F 0 points Discuss what, if any, problems might exist when GPAs for two students
Home Pros sells supplies to “do-it-yourselfers.” One of the things the company prides itself on is fast service.It uses a number system and takes customers in the order they arrive at the store. Recently, the assistant manager tracked the time customers spent in the store from the time they
Over 221 million computer and video games were sold in 2002—nearly two games for every U.S. household according to the Detroit News (February 15, 2004). Of Americans age 6 or older 60%—about 145 million people—play computer and video games. Gamers spend an average of 3 to 4 hours playing
Travelers are facing increased costs for both driving and flying to chosen destinations. With rising costs for both modes of transportation, what really weighs on the decision to drive or to fly? To gain a better understanding of the “fly or drive” decision, Runzheimer International reviewed
The manager of the Cottonwood Grille recently selected a random sample of 18 customers and kept track of how long the customers were required to wait from the time they arrived at the restaurant until they were actually served dinner. This study resulted from several complaints the manager had
Simplot Agri-Chemical has decided to implement a new incentive system for the managers of its three plants. The plan calls for a bonus to be paid next month to the manager whose plant has the greatest relative improvement over the average monthly production volume. The following data reflect the
The Dakota Farm Cooperative owns and leases prime farmland in the upper Midwest. Most of its 34,000 acres are planted in grain. The cooperative performs a substantial amount of testing to determine what seed types produce the greatest yields. Recently, the cooperative tested three types of corn
Stock investors often look to beat the performance of the S&P 500 Index, which generally serves as a yardstick for the market as a whole. The following table shows a comparison of the five-year cumulative total shareholder returns for IDACORP common stock, the S&P 500 Index, and the Edison Electric
When the Zagat Survey®, a leading provider of leisure-based survey results, released its San Francisco Restaurants Survey, it marked the 25th year that Zagat Survey reported on diners and the 19th year that the company has covered San Francisco. The participants dined out an average of 3.2 times
The Environmental Protection Agency (EPA) tests all new cars and provides a mileage rating for both city and highway driving conditions. Thirty cars were tested and are contained in the data file Automobiles.The file contains data on several variables. In this problem, focus on the city and highway
According to the National Retail Federation (NRF), the NRF 2005 Halloween Consumer Intentions and Actions Survey, conducted by BIGresearch, found that consumer spending ($3.29 billion) for 2005 was expected to be 5.4% above the amount for 2004.Much of the increase in spending was expected to come
The Cozine Corporation operates a garbage hauling business. Up to this point, the company has been charged a flat fee for each of the garbage trucks that enters the county landfill. The flat fee is based on the assumed truck weight of 45,000 pounds. In two weeks, the company is required to appear
Use a tree diagram to list the sample space for the number of movies rented by three customers at a video store where customers are allowed to rent one, two, or three movies (assuming that each customer rents at least one movie.)
The results of a census of 2,500 employees of a midsized company with 401(k) retirement accounts are as follows:Account Balance (to nearest $) Male Female $25,000 635 495 $25,000 $49,999 185 210 $50,000 $99,999 515 260 $100,000 155 45 Suppose researchers are going to sample employees from the
Cross County Bicycles makes two mountain bike models that each come in three colors. The following table shows the production volumes for last week:Color Model Blue Brown White XB-50 302 105 200 YZ-99 40 205 130a. Based on the relative frequency assessment method, what is the probability that a
Cyber Communications, Inc., has a new cell phone product under development in the research and development (R&D) lab. It will increase the megapixel capability of cell phone cameras to the 6range. The head of R&D made a presentation to the company CEO stating that the probability the company will
Five doctors work at the Evergreen Medical Clinic.The plan is to staff Saturdays with three doctors. The office manager has decided to make up Saturday schedules in such a way that no set of three doctors will be in the office together more than once. How many weeks can be covered by this schedule?
The results of Fortune Personnel Consultants’ survey of 405 workers was reported in USA Today. One of the questions in the survey asked, “Do you feel it’s OK for your company to monitor your Internet use?”The possible responses were: (1) Only after informing me, (2) Does not need to inform
Famous Dave’s is a successful barbeque chain and sells its beef, pork, and chicken items to three kinds of customers: dine-in, delivery, and pickup. Last year’s sales showed that 12,753 orders were dine-in, 5,893 were delivery orders, and 3,122 orders were pickup.Suppose an audit of last
A company produces scooters used by small businesses, such as pizza parlors, that find them convenient for making short deliveries. The company is notified whenever a scooter breaks down, and the problem is classified as being either mechanical or electrical. The company then matches the scooter to
Ponderosa Paint and Glass carries three brands of paint. A customer wants to buy another gallon of paint to match paint she purchased at the store previously.She can’t recall the brand name and does not wish to return home to find the old can of paint. So she selects two of the three brands of
Micron Technology has sales offices located in four cities: Dallas, Seattle, Boston, and Los Angeles. An analysis of the company’s accounts receivables reveals the number of overdue invoices by days, as shown here.Days Overdue Dallas Seattle Boston Los Angeles Under 30 days 137 122 198 287
Suppose a quality manager for Dell Computers has collected the following data on the quality status of disk drives by supplier. She inspected a total of 700 disk drives.Drive Status Supplier Working Defective Company A 120 10 Company B 180 15 Company C 50 5 Company D 300 20a. Based on these
Three events occur with probabilities of P(E1) 0.35, P(E2) 0.25, P(E3) 0.40. Other probabilities are:P(B | E1) 0.25, P(B | E2) 0.15, P(B | E3) 0.60.a. Compute P(E1 | B).b. Compute P(E2 | B).c. Compute P(E3 | B).
Suppose the manager in Problem 4-38 is concerned about alienating customers who buy more than $20.00, since they would not be eligible to win the free gas under the original concept. To overcome this, she is thinking about changing the contest. The customer will get free gas if any of the following
Drake Marketing and Promotions has randomly surveyed 200 men who watch professional sports. The men were separated according to their educational level (college degree or not) and whether they preferred the NBA or the National Football League(NFL). The results of the survey are shown:Sports
Until the summer of 2008, the real estate market in Fresno, California, had been booming, with prices skyrocketing. Recently, a study showed the sales patterns in Fresno for single-family homes. One chart presented in the commission’s report is reproduced here. It shows the number of homes sold
Vegetables from the summer harvest are currently being processed at Skone and Conners Foods, Inc. The manager has found a case of cans that have not been properly sealed. There are three lines that processed cans of this type, and the manager wants to know which line is most likely to be
Showing 3800 - 3900
of 6020
First
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
Last
Step by Step Answers
Get 50% OFF
Claim Now
