Questions and Answers of Business Statistics For Contemporary

1. The Financial database contains seven different types of companies. These seven are denoted by the variable Type.Use a chi-square goodness-of-fit test to determine whether the seven types of
USAA, the United Services Automobile Association, is a diversified financial services group of companies based in San Antonio, Texas. Currently, ranked 52nd in net worth and 100th in revenue in
According to Nielsen Media Research, the average number of hours of TV viewing by adults (18 and over) per week in the United States is 33 hours. Suppose the standard deviation is 7.9 hours and a
1. Suppose you want to “prove” that hospitals in the United States average more than 700 births per year. Using the all-hospital database as your sample, test this hypothesis.Assume that the
A small lawnmower company produced 1500 lawnmowers in 2008. In an effort to determine how maintenance-free these units were, the company decided to conduct a multiyear study of the 2008 lawnmowers. A
Shown below are the top nine leading retailers in the United States in a recent year according to Kantar ConsultingAssume that the data represent a population.a. Find the range.b. Find the population
Suppose a subdivision on the southwest side of Denver, Colorado, contains 1500 houses. The subdivision was built in 1983. A sample of 100 houses is selected randomly and evaluated by an appraiser. If
Every chapter in this text will end with a big data case. Unlike the chapter cases, which feature a wide variety of companies and business scenarios, the big data case will be based mainly on data
According to SquareFoot.com, the average Class A office space in Fort Worth is $31 per square foot. A large real-estate company wants to confirm this figure. The firm conducts a telephone survey of
1. Is there a difference between the average number of personnel at a rehab hospital and a psychiatric hospital? Use the Hospital (AHA) database as sample data to test this hypothesis with α = .10.
According to the U.S. Bureau of Labor Statistics, the average weekly earnings of a production worker in manufacturing in the United States as of October 2018 was $867.60. Suppose a labor analyst
The Bureau of Labor Statistics shows that the average insurance cost to a company per hour worked for an employee by major industry group is $3.22 for construction workers and $3.97 for manufacturing
In an effort to determine whether any correlation exists between the price of stocks of airlines, an analyst sampled six days of activity of the stock market spread out over four months. Using the
A company’s auditor believes the per diem cost in Nashville, Tennessee, rose significantly between 2008 and 2019. To test this belief, the auditor samples 51 business trips from the company’s
A study was conducted to compare the salaries of accounting clerks and data entry operators. One of the hypotheses to be tested is that the variability of salaries among accounting clerks is the same
Determine the equation of the trend line for the data shown below provided by the U.S. Census Bureau on U.S. exports of fertilizers to Indonesia over a five-year period. Using the trend line
Shown below are rental and leasing revenue figures for office machinery and equipment in the United States over a seven-year period according to the U.S. Census Bureau. Use these data to construct a
Shown below are data on the total sales generated by the seafood industry and the corresponding jobs supported by the seafood industry in the top 10 states by seafood sales. The data are published by
E-commerce sales in the United States have been growing for many years. Shown below are quarterly adjusted e-commerce sales figures ($ billions) released by the Census Bureau for the United States
Is the amount of money spent by companies on advertising a function of the total revenue of the company? Shown are revenue and advertising cost data for 10 companies published by Advertising Age.Use
The following data on the number of union members in the United States for the years 1986 through 2018 are provided by the U.S. Bureau of Labor Statistics. Using regression techniques discussed in
The World’s Largest Companies database contains information on four variables: Sales, Profits, Assets, and Market Value for the 1700 largest companies in the world. There is an additional variable
Suppose the following data are prices of market goods involved in household transportation for the years 2011 through 2018. Using 2013 as a base year, compute aggregate transportation price indexes
The U.S. Department of Labor publishes consumer price indexes (CPIs) on many commodities. Following are the percentage changes in the CPIs for food and for shelter for the years 2001 through 2018.
Compute unweighted aggregate price index numbers for each of the given years using 2015 as the base year. Item 2015 2016 2017 2018 2019 1 3.21 3.37 3.80 3.73 3.65 2 دا 3 نيا -51 .83 4
Using the following data and 2016 as the base year, compute the Laspeyres price index for 2019 and the Paasche price index for 2018. Item Price Quantity 1 $2.75 12 0.85 47 1.33 20 2 3 2018 Item Price
Shown here are retail price figures and quantity estimates for five different food commodities over 3 years. Use these data and a base year of 2017 to compute unweighted aggregate price indexes for
Suppose 12 urban households and 12 rural households are selected randomly and each family is asked to report the amount spent on food at home annually. The results follow. Use a Mann-Whitney U test
According to trulia.com, the average listing price for a home in Albuquerque in a recent week was $221,441 compared to $218,555 for Tulsa that same week. Suppose a survey of 13 randomly selected
American attitudes toward big business change over time and probably are cyclical. Suppose the following data represent a survey of 20 American adults taken in 1993 and again in 2019 in which each
Suppose 16 people in various industries are contacted in 2018 and asked to rate business conditions on several factors. The ratings of each person are tallied into a “business optimism” score.
1. Using cross tabulation, construct a contingency table for the variables Region and Control. This table will have raw frequencies and totals from the database. Next divide each cell value and
Determine the mean, the variance, and the standard deviation of the following discrete distribution. x P(x) 1.238 2.290 3 4 5 .177 158 .137
Determine the mean, the variance, and the standard deviation of the following discrete distribution. xP(x) 0.103 .118 246 .229 4.138 5.094 1 2 3
According to a survey conducted by the American Pet Products Association, 68% of U.S. households own a pet. According to the Energy Information Administration, 31% of all U.S. households have trouble
Shown here are the top 10 U.S. cities ranked by population.Suppose four of these cities are randomly selected.a. What is the probability that exactly two cities are in California?b. What is the
The Fortune 500 includes the top 20 U.S. companies by revenue. Walmart is number one followed by Exxon Mobil and Berkshire Hathaway. Of the 20 companies on the list, 5 are in some type of heathcare-
According to CBS Money Watch, the average monthly household cellular phone bill is $100. Suppose monthly household cell phone bills are normally distributed with a standard deviation of $11.35.a.
According to one source, the average cumulated college student loan debt for a graduating senior is $29,400. Assume that such debt is normally distributed and that the standard deviation is $5,684.
According to the U.S. Department of Labor, the average American household spends $762 on personal care products and services per year. Suppose annual expenditures on personal care products and
According to Bureau of Labor Statistics data, the average income for a worker in the metropolitan Boston area is $65,420. Suppose average income for a worker in the metropolitan Boston area is
In a recent year, the average daily circulation of the Wall Street Journal was 2,276,207. Suppose the standard deviation is 70,940. Assume the paper’s daily circulation is normally distributed. On
According to the ICAO, the average operating cost of an A320 jet airliner is $2,270 per hour. Suppose the operating costs of an A320 jet airliner are normally distributed with a standard deviation of
Shown here are the sales data (in $ millions) for U.S. furniture and home furnishing stores from 2012 through 2016 supplied by the U.S. Census Bureau. Using this data:a. Construct a time-series graph
A hundred or so boats go fishing every year for three or four weeks off of the Bering Strait for Alaskan king crabs. To catch these king crabs, large pots are baited and left on the sea bottom, often
Shown here is a list published by Electronics Weekly.com of the top five semiconductor companies in the United States by revenue ($ billions).a. Construct a bar chart to display these data.b.
The following list shows the top six pharmaceutical companies in the United States by revenue ($ billions) for a recent year as published by Forbes. Use this information to construct a pie chart and
According to Bureau of Transportation statistics, the largest five U.S. airlines in scheduled system-wide (domestic and international) enplanements in 2017 (passenger numbers in millions) were:
How do various currencies around the world stack up to the U.S. dollar? Shown below is a bar chart of the value of the currency of various countries in U.S. dollars as of November 2018. The
Visualize the following time-series data. Year Number of Employees 1 56 53 47 41 43 46 2 3 4 56 6 78 7 8 9 10 52 63 68 65
The U.S. Department of the Interior releases figures on mineral production. Following are the 15 leading states in nonfuel mineral production in the United States for 2016.a. Calculate the mean and
Shown below are the maximum per diem rates for 11 international cities provided by the U.S. Department of State. The per diem rates include hotel, car, and food expenses. Use this list to calculate
Shown below are the top 15 market research firms in the United States in 2018 according to the AMA Gold Top 50 Report. Compute the mean, median, P30, P60, P90, Q1, Q3, range, and the interquartile
According to Chebyshev’s theorem, how many standard deviations from the mean would include at least 88% of the values?
Shown below are the top 10 contractors of the U.S. federal government by dollars according to the U.S. General Services Administration. Use this population data to compute a mean and a standard
Suppose a market research firm enlisted 800 families in one U.S. city to participate in a study of expenditures for the December holiday season. Each family kept a log of spending for this holiday
The following are per capita GDP figures for eight eastern European countries according to the World Bank. The monetary figures are in international dollars; for comparison, the per capita GDP for
Business Travel News reported that the average per diem total for a business traveler in Paris, France, is $608. Suppose the shape of the distribution of the per diem costs of a business traveler to
U.S. Bank Locations compiled a list of over 6000 banks in the United States in order of their total assets. Leading the list were JPMorgan Chase, Bank of America, and Wells Fargo Bank. Following is
Shown here are the top seven companies from the construction, farm machinery industry in the United States and their respective revenue ($ billions).a. Construct a pie chart for these data displaying
Shown here are production unit data for a company for the first four months of the year over eight years. Construct a chart or graph that best depicts these four months of data over the eight years
Shown here is a list of the industries with the largest total toxic releases in a recent year according to the EPA. Construct both a bar chart and a pie chart to depict this information and comment
Shown here is a scatter plot of the NASDAQ 100 Index versus the Dow Jones Industrial Average on Friday closings over a period of one year (January 12, 2018 to January 4, 2019). What does the graph
A list of the top 10 manufacturing companies in the United States according to Industry Week along with their total revenue in $ billions follows. Compute the median, Q3, P20, P60, P80, and P93 on
According to the Bureau of Labor Statistics, the average annual salary of a worker in Detroit, Michigan, is $45,140. Suppose the median annual salary for a worker in this group is $41,369 and the