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business
business statistics communicating

Business Statistics Communicating With Numbers 1st Edition Kelly Jaggia - Solutions

The follow ing are the closing stock prices for a pharmaceutical firm over the past tw o weeks.Day 1 2 3 4 5 6 7 8 9 10 Price($) 61.22 60.99 61.91 61.59 61.76 61.91 61.30 61.37 61.95 62.82a. Specify the competing hypotheses in order to determine whether the median stock price is greater than
FILEA research analyst follows the biotechnology industry and examines the daily stock price of Amgen, Inc. over the past year. The table below shows a portion of the daily stock price of Amgen for the 252 trading days in 2010; the full data set can be found on the text website, labeled Amgen. The
ranThe superintendent o f a large suburban high school m ust decide w hether to close the school for at least tw o days due to the spread of flu. If she can confirm a trend in absenteeism, then she w ill close the high school. The follow ing are the num ber o f students absent from the high school
FILE The follow ing table shows a portion of the growth rate in the gross domestic product (GDP) for India from 1980 through 2008; the full data set can be found on the text website, labeled India GDP. Use the method of runs above and below the median w ith a significance level of 5% to test the
A gambler suspects that a coin may be weighted more heavily toward the outcome of tails (T) over heads (H). He flips the coin 25 times and notes the follow ing sequence:TTHTTTHHTHTTHTTTHHTHTHTTHa. Specify the competing hypotheses in order to test the gambler's belief on nonrandomness.b. What is the
Given the digits zero through nine, a computer program is supposed to generate even and odd numbers random ly. The computer produced the follow ing sequence of numbers:5 3 46 8 0 2 9 7 7 1 6 8 3 1 5 2 4 3 3 9 2a. Specify the competing hypotheses in order to test for nonrandomness.b. What is the
Let D denote a desirable outcome and U denote an undesirable outcome. The sequence of the outcomes is as follows:DDDUUDUUUUUDDDUUDUUUDDDUUUUDDD At the 1% significance level, conduct a hypothesis test in order to determine if the outcomes are nonrandom.Applications
Let A and B be tw o possible outcomes of a single experiment. The sequence of the outcomes is as follows:BBAABAABBABABBBABBAAABABBABBABA At the 5% significance level, conduct a hypothesis test in order to determine if the outcomes are nonrandom.
Consider the following information: n1 = 10, n2 = 13 and R = 8, where R is the number of runs, n] and n2 are the number of elements in a sequence possessing and not possessing a certain attribute, and n1 + n2 = n.a. Specify the competing hypotheses in order to test for nonrandomness.b. What is the
Consider the following information: n1 = 24, n2 = 28 and R = 18, where R is the number of runs, n1 and n2 are the number of elements in a sequence possessing and not possessing a certain attribute, and n 1 + n2 = n.a. Specify the competing hypotheses in order to test for nonrandomness.b. What is
A new diet and exercise program claims that it significantly lowers a participant's cholesterol level. In order to test this claim, a sample of 60 participants is taken. Their cholesterol levels are measured before and after the three-m onth program. Forty of the participants recorded lower
FILEFor scholarship purposes, tw o graduate faculty members rate 12 applicants to the PhD program on a scale of 1 to 10 (with 10 indicating an excellent candidate).These ratings are shown in the follow ing table and are also available on the text website, labeled PhD Rating.Candidate Faculty A's
In March 2009, 100 registered voters were asked to rate the"effectiveness" of President Obama. In March 2010, these same people were again asked to make the same assessment.Seventy percent o f the second ratings were lower than the first ratings and 30% were higher.a. Specify the competing
____ FILEConcerned with the increase of plastic water bottles in landfills, a leading environmentalist wants to determine whether there is any difference in taste between the local tap water and the leading bottled water. She randomly selects 14 consumers and conducts a blind taste test. She asks
Consider the follow ing sign data, produced from a matchedpairs sample of ordinal data.a. Specify the competing hypotheses to determine whether the proportion of negative signs is significantly greater than the proportion of positive signs.b. Calculate the value of the test statistic.c. What is the
Consider the follow ing sign data, produced from a matchedpairs sample of ordinal data.a. Specify the competing hypotheses to determine whether the proportion of negative signs differs from the proportion of positive signs.b. Calculate the value of the test statistic.c. Calculate the p-value.d. At
Consider the following competing hypotheses and sample data.H0: p ≤ 0.50 n = 25 HA: p > 0.50a. Determine the value of the test statistic.b. At the 1% significance level, what is the decision rule?c. What is the conclusion? Explain.
Consider the follow ing competing hypotheses and sample data.H0:p = 0.50 n = 40 HA: p ≠ 0.50a. Determine the value of the test statistic.b. Calculate the p-value.c. At the 5% significance level, what is the conclusion?Explain.
An engineer examines the relationship between the w eight of a car and its average miles per gallon (MPG). For a sample of 100 cars, he calculates a Spearman rank correlation coefficient of — 0.60.a. Specify the competing hypotheses in order to determine whether a negative relationship exists
A social scientist analyzes the relationship between educational attainm ent and salary. For 65 individuals he collects data on each individual's educational attainm ent (in years) and his/her salary (in $1,000 s).He then calculates a Spearman rank correlation coefficient of 0.85.a. Specify the com
FILEThe director of graduate admissions at a local university is analyzing the relationship between scores on the Graduate Record Examination (GRE) and subsequent perform ance in graduate school, as measured by a student's grade point average (GPA). She uses a sample of 7 students who graduated w
FILE In an attem pt to determine whether a relationship exists between the price of a home and the number o f days it takes to sell the home, a real estate agent collected the follow ing data from recent sales in his city (the data are also available on the text website, labeled Price/Days):Price
You are interested in whether the returns on Asset A are negatively correlated w ith the returns on Asset B.Consider the follow ing annual return data on the two assets:Asset A Asset B Year 1 -20% 8%Year 2 - 5 5 Year 3 18 - 1 Year 4 15 - 2 Year 5 4 3 Year 6 -1 2 2a. Calculate and interpret the
FILEThe following table shows the World Bank's 2008 ranking of the richest countries, as measured by per capita GNP. The data are also available on the text website, labeled WB ranking.In addition, it gives each country's respective rank with respect to infant mortality according to the Central
The follow ing table shows the ranks given by tw o judges to the performance of six finalists in a men's figure skating com petition:Skater A B C D E F Judge 1 6 5 4 3 2 1 Judge 2 5 6 4 3 1 2a. Calculate and interpret the Spearman rank correlation coefficient rs.b. Specify the competing hypotheses
Consider the follow ing competing hypotheses and accompanying sample data.H0: ρ s ≤ 0 rs = 0.64 and n = 50 Ha: ρ s > 0a. What is the value of the test statistic and its associated p-value? Assume the normal approximation for rs.b. At the 1 % significance level, what is the
Consider the following competing hypotheses and accompanying sample data.H0: ρ s = 0 rs= -0 .8 5 and n = 65 Ha: ρ s ≠ 0a. What is the value of the test statistic and its associated p-value? Assume the normal approximation for rs.b. At the 10% significance level, what is the conclusion?
Consider the follow ing sample data:x -2 0 3 - 1 4 7 y - 4 - 3 - 8 - 5 - 9 -1 0a. Calculate and interpret rs.b. Specify the competing hypotheses in order to determine whether the Spearman population correlation coefficient is less than zero.c. At the 1% significance level, w hat is the decision
Consider the follow ing sample data:x 12 18 20 22 25 15 y 15 20 25 22 27 19a. Calculate and interpret rs.b. Specify the competing hypotheses in order to determine whether the Spearman population correlation coefficient differs from zero.c. At the 5% significance level, what is the decision rule?d.
Consider the follow ing competing hypotheses and accompanying sample data.H0 : Ps ≥ 0 rs = -0 .6 4 and n = 9 Ha: Ps < 0a. What is the value of the test statistic?b. Specify the decision rule at the 5% significance level.c. What is the conclusion?
Consider the follow ing competing hypotheses and accompanying sample data.H0: p s = 0 rs = 0.92 and n = 8 Ha: Ps ≠ 0a. What is the value of the test statistic?b. Specify the decision rule at the 1% significance level.c. What is the conclusion?
FILE A well-known conglomerate claims that its detergent"whitens and brightens better than all the rest." In order to compare the cleansing action of the top three detergents, 15 swatches of white cloth were soiled w ith red wine and grass stains and then washed in front-loading machines w ith the
FILEA research analyst examines annual returns (in percent)from Industry A, Industry B, and Industry C. The table below summarizes the relevant data which are also available on the text website, labeled Industry Returns.Industry A Industry B Industry C 16.86 15.41 13.53 5.11 10.87 9.58 12.45 4.43
FILE A quality-control manager wants to test whether there is any difference in the length of life of three brands of light bulbs. Random samples of new light bulbs installed in the firm's office light fixtures yield the expiration data (in hours)in the follow ing table. The data are also available
F IL E A research analyst wants to test whether the unem ploym ent rate differs from one region of the country to another. She collects the unem ploym ent rate (in percent)of similar-sized cities in three regions of the United States.The results are shown in the accompanying table, and are also
FILEFour independent samples produced the results in the accompanying table. The data are also available on the text website, labeled Exercise 20.26.Sample 1 -1 5 0 5 10 Sample 2 J - 3 - 4 - 5 - 6 Sample 3 4 6 8 10 Sample 4 | 7 9 11 13a. Specify the competing hypotheses in order to test whether
Suppose the distribution of W is approximately normal.a. Calculate the mean and standard deviation of the distribution of W.b. Specify the competing hypotheses to determine whether the median of Population 1 differs from the median of Population 2.c. Calculate the value of the test statistic Z.d.
Suppose the distribution of W is approximately normal.a. Calculate the mean and standard deviation of the distribution of W.b. Specify the competing hypotheses to determine whether the median of Population 1 is greater than the median of Population 2.c. Calculate the value of the test statistic
The follow ing data are provided for two independent samples: W = 700, n1 = 25, and n2 =
The follow ing tw o samples represent independent random samples.Sample 1 -2 0 4 - 5 2 Sample 2 - 3 -8 -1 0 -10 3a. Specify the competing hypotheses to determine whether the median of Population 1 is greater than the median of Population 2.b. Calculate the value of the test statistic W.c. W ith α
The follow ing tw o samples represent independent random samples.Sample 1 | 15 23 19 34 30 Sample 2 | 28 25 34 35 37 40a. Specify the competing hypotheses to determine whether the median of Population 1 is less than the median of Population 2.b. Calculate the value of the test statistic W.c. With
Consider the follow ing competing hypotheses and accompanying sample data drawn independently.H0: m 1 — m2 ≥ 0 W1 = 20 W2 = 35 HA: m 1 — m2 < 0 n1= 5 n2 = 5a. Determine the value of the test statistic.b. Specify the decision rule at the 5% significance level.c. What is the conclusion?
Consider the follow ing com peting hypotheses and accompanying sample data drawn independently.H0: m1 - m2 = 0 W1 = 80 W2 = 40 HA: m 1 - m2 ≠ 0 n1 = 7 n2 = 8a. Determine the value of the test statistic.b. Specify the decision rule at the 5% significance level.c. What is the conclusion?
FILEThe follow ing data are derived from a matched-pairs sample. The data are also available on the text website, labeled Exercise 20.11.Observation Sample 1 Sample 2 1 120 125 2 156 160 3 143 140 4 100 90 5 115 132 6 140 124 7 111 112 8 142 144 9 175 200 10 190 182a. Specify the competing
FILEThe follow ing table contains inform ation on a matchedpairs sample.The data are also available on the text website, labeled Exercise 20.10.Number Sample 1 Sample 2 1 18 21 2 12 11 3 21 23 4 22 20 5 16 20 6 14 17 7 17 17 8 18 22a. Specify the competing hypotheses that determine whether the
Consider the following competing hypotheses and accompanying sample data drawn from a matched-pairs sample.H0: mD = 0 n = 50 T- = 400 T+ = 875 HA: mD ≠ 0a. Determine the value of the test statistic using a normal approximation for T.b. Calculate the p-value.c. At the 5% significance level, what
Consider the following competing hypotheses and accompanying sample data drawn from a matched-pairs sample.H0:mD ≥ 0 n = 9 T- = 40 T+ = 5 HA: mD < 0a. Specify the decision rule at the 5% significance level.b. What is the conclusion?
The following table lists the annual returns (in percent) for a top-perform ing mutual fund, ING Russia, over the last decade.Year Return Year Return 2000 − 17.80 2005 70.94 2001 80.32 2006 67.52 2002 24.72 2007 30.69 2003 75.88 2008 − 71.51 2004 5.91 2009 129.97 Sourcewww.finance.yahoo.coma.
Consider the follow ing sample data.105 90 110 80 85 85 103 70 115 75a. Specify the competing hypotheses that determine whether the median differs from 100.b. Calculate the value of the test statistic. Assume that the sampling distribution of T is normally distributed.c. Determine the critical
Consider the following sample data.8 5 11 7 6 5a. Specify the competing hypotheses that determine whether the median is less than 10.b. Calculate the value of the test statistic T.c. W ith α = 0.05, what is the decision rule?d. Is the median less than 10? Explain.
Consider the follow ing competing hypotheses and sample data.H0: m ≤ 1 50 n = 30 T− = 200 T+ = 265 HA: m > 150a. Assuming that the sampling distribution of T is normally distributed, determine the value of the test statistic.b. Calculate the p-value.c. At the 5% significance level, what is the
Consider the following competing hypotheses and sample data.H0: m ≥ 150 n = 9 T− = 42 T+ = 3 HA: m < 150a. Specify the decision rule at the 1 % significance level.b. What is the conclusion? Explain.
Consider the following competing hypotheses and sample data.H0: m = 20 n = 7 T− = 2 T+ = 26 Ha: m ≠ 20a. Specify the decision rule at the 5% significance level.b. What is the conclusion? Explain.
Redo the test specified in Example 20.1 assuming that T is normally distributed.
Given the return data in Table 20.1, determine whether the median return for the Metals fund is significantly greater than 5% with α = 0.05. P-96
Determine whether the elements of a sequence appear in a random order. P-96
Determine whether two populations differ under matched-pairs sampling with ordinal data. P-96
Analyze the correlation between two variables. P-96
Determine whether the medians of more than two populations differ. P-96
Determine whether two population medians differ under independent sampling. P-96
Determine whether the population median difference differs from zero under matched-pairs sampling. P-96
Conduct a hypothesis test concerning a single population median. P-96
Distinguish between parametric and nonparametric tests. P-96
Define and compute investment returns. pk-75
Use the Fisher equation to convert nominal returns into real returns and vice versa. pk-75
Calculate and interpret a simple price index. pk-75
Calculate and interpret the unweighted aggregate price index. pk-75
Compare the Laspeyres and the Paasche methods for computing the weighted aggregate price index. pk-75
Use price indices to deflate economic time series and derive the inflation rate. pk-75
The price of a stock has gone up from $24 to $35 in one year. It also paid a year-end dividend of $1.20. What is the stock's (a) income yield, (b) capital gains yield, and(c) total return?
You would like to invest $20,000 for a year in a risk-free investment. A conventional CD offers a 4.6% annual rate of return. You are also considering an "Inflation-Plus"CD which offers a real rate of return of 2.2% regardless of the inflation rate.a. What is the implied (expected) inflation
Consider the following adjusted close stock prices of Intel Corporation. Find the monthly returns for November and December of 2010.Date Adjusted Close Price December 2010 $21.48 November 2010 $20.98 October 2010 $19.73 SOURCE: Data obtained from http://finance.yahoo.com on December 2010.
Consider the following adjusted close stock prices of Johnson and Johnson (J&J) and Caterpillar, Inc.Compute and compare the monthly returns for both companies.Date Johnson and Johnson Caterpillar March 2011 60.70 99.86 February 2011 61.44 102.93 January 2011 59.23 97.01 December 2010 61.30 93.22
Consider the following price data from 1994 to 2002.Year 1994 1995 1996 1997 1998 1999 2000 2001 2002 Price 62 60 64 67 66 70 74 72 70a. Compute the simple price index using 1994 as the base year.b. Determine the percentage change in prices from 1994 to 1998.
Consider the following simple price index created with a base year of 2004.Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 Price Index 100 102.2 106.3 110.8 109.4 107.2 108.9 110.5 114.7a. Update the index numbers using a revised base year of 2008.b. Determine the percentage change in price from
Consider the following price and quantity data of three products from 2008 to 2010.Year Product 1 Product 2 Product 3 2008 Price $14.30 $13.90 $18.10 Quantity 992 1,110 800 2009 Price $14.90 $13.70 $18.50 Quantity 980 1220 790 2010 Price $15.50 $13.80 $17.90 Quantity 140 1290 810a. Compute the
Use the price and quantity information in the previous exercise to compute the following aggregate price indices, given a base year of 2008:a. The unweighted aggregate price indexb. The Laspeyres price indexc. The Paasche price index Applications
Consider the following average monthly prices for regular gasoline in California in 2008.Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Price 3.25 3.18 3.56 3.82 3.97 4.48 4.46 4.16 3.79 3.39 2.46 1.82 Source: http://www.energyalmanac.ca.gov.a. Construct a simple price index with January
The following table shows the monthly adjusted close price per share of Microsoft Corporation for 2009.Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Price 16.6 15.8 18.0 19.8 20.6 23.4 23.2 24.4 25.5 27.5 29.2 30.3 Source: http://finance.yahoo.com.a. Construct a simple price index with
The MIT Sloan School of Management is one of the leading business schools in the U.S. The following table contains the tuition data for the masters program in the Sloan School of Management.Year 2004 2005 2006 2007 2008 2009 Tuition $36,850$39,844 $42,634 $44,556 $46,784 $48,650 Source:
F IL E According to dollar cost averaging, a fixed amount of money is invested periodically in a portfolio. Consequently, more units of a financial asset are purchased when prices are low and fewer units are purchased when prices are high.Robert Dudek follows dollar cost averaging by making a
JJ Diner is a small mom and pop restaurant in Lincoln, Nebraska. They offer three choices for breakfast: omelets, pancakes, or cereal. The average prices (in dollars) for these options for 2007,2008, and 2009 are shown in the accompanying table.Year Omelet Pancakes Cereal 2007 4.75 3.50 3.50 2008
The following table shows the number (in 1,000s) of breakfasts sold at JJ Diner.Year Omelet Pancakes Cereal 2007 9.26 7.98 2.44 2008 11.82 9.20 2.62 2009 10.48 8.50 2.12 Use this information, along with the price data provided in the previous exercise, toa. Compute and interpret the Laspeyres price
With the collapse of house prices that started in 2006, the American Dream has become a nightmare for many of the 75 million Americans who own a home (CBS Evening News, February 2 , 2010). However, the drop in house prices has not been uniform across the country. The accompanying table represents
Consider the following table, which reports the sale(quantity in 1,000s) of homes by region for 2007, 2008, and 2009.Region 2007 2008 2009 Northeast 1,006 849 868 Midwest 1,327 1,129 1,165 South 2,235 1,865 1,913 West 1,084 1,070 1,210 SOURCE: h ttp ://w w w .re a lto r.o rg .Use this information,
The following table represents the nominal values of an item and the corresponding price index from 2009 to 2011.Year Nominal Value Price Index 2009 38 100 2010 40 103 2011 42 112a. Compare the percentage change in the nominal values w ith the corresponding real values from 2009 to 2010.b. Compare
FILE Economists often look at retail sales data to gauge the state of the economy. This is especially so in a recession year, when consumer spending has decreased.Consider the follow ing table, which shows U.S. m onthly nom inal retail sales for 2009. Sales are measured in m illions of dollars and
Japan was the first Asian country to challenge the dominance o f the U.S. in 1980s. However, since then, its economy has been in a slow but relentless decline (The New York Times, October 16, 2010).This country has been trapped in low growth and a downward spiral of prices, known as deflation.
FILEEach month the Current Employment Statistics (CES)program surveys numerous businesses and government agencies in order to obtain detailed data on earnings of workers. Consider the follow ing data on the national average of hourly earnings for 2008. Also included is the corresponding consumer
The total revenue for The Walt Disney Company was$35,510,000 for 2007, $37,843,000 for 2008, and $36,149,000 for 2009 (Source: http://finance.yahoo.com ).a. Deflate the total revenue w ith the relevant price index.b. Discuss the revenue trend during the 2007–2009 period using nominal as well as
Toyota Motor Corp., once considered a company synonymous with reliability and customer satisfaction, has been engulfed in a perfect storm with millions of cars recalled (BBC News, March 19, 2010). The following table shows the monthly adjusted close price per share of Toyota from October 2009 to
Consider the following price data from 2002 to 2010.Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 Price3.20 3.46 3.51 4.02 4.18 4.30 4.59 4.50 4.70a. Compute the simple price index using 2002 as the base year.b. Update the index numbers with a base year revised from 2002 to 2005.c. Plot the
Consider the following price data from 2009 to 2011.Year Product 1 Product 2 Product 3 2009 38 94 45 2010 40 92 48 2011 42 98 56a. Compute and interpret the simple price index for each product, using 2009 as the base year.b. Compute and interpret the unweighted aggregate price index, using 2009 as
Let the quantities corresponding to the prices in the previous exercise be given by the following table.Year Product 1 Product 2 Product 3 2009 90 32 48 2010 82 34 46 2011 76 30 36a. Compute the Laspeyres price index, using 2009 as the base year.b. Compute the Paasche price index, using 2009 as the
Lindsay Kelly bought 100 shares of Google, 300 shares of Microsoft, and 500 shares of Nokia in January 2005. The adjusted close prices of these stocks over the next three years are shown in the accompanying table.Year Google Microsoft Nokia 2005 195.62 24.11 13.36 2006 432.66 26.14 16.54 2007
Citigroup, Inc., is a major financial services company based in New York. It suffered huge losses during the global financial crisis and was rescued in November 2008 in a massive bailout by the U.S. government. Consider the following table, representing the net revenue and net income of Citigroup
Consider the follow ing consumer price index and producer price index for 2006-2009.Year CPI (1982-84 =100) PPI (1982 = 100)2006 201.59 164.80 2007 207.34 172.70 2008 215.30 189.60 2009 214.54 172.90 Source: Bureau of Labor Statistics.a. Use the relevant price index to deflate the data on net
An investor bought 1,000 shares of Citigroup in January 2009 for $3.55 a share. She sold all o f her shares in December 2009 for $3.31 a share.a. What annual rate o f return did the investor earn?b. Use the CPI inform ation from the previous exercise to com pute the inflation rate for 2009.c. What
The adjusted close prices of Wendy's/Arby's Group, Inc., for the first three months of 2008 are presented in the follow ing table. Also included in the table is the corresponding consumer price index (CPI).Date Adjusted Close Price CPI (Base 1982-1984)January, 2008 8.94 212.225 February, 2008 8.29
Compute monthly returns for all companies for 1999 and 2000.

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