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business statistics using excel
Basic Business Statistics Concepts And Applications 5th Edition L. Berenson Mark, David Levine, Kathryn Szabat, Judith Watson, Nicola Jayne, Martin O'brien - Solutions
In problem A.6 sample statistics were calculated from data representing the number of times, during August and September, a sample of 50 students accessed the website of a statistics unit they were enrolled in. < WEBSTATS >For each month (August and September):a. List the five-number summary.b.
The data in the file < WEBSTATS > represent the number of times during August and September that a sample of 50 students accessed the website of a statistics unit they were enrolled in.a. Construct ordered arrays for August and September.b. Construct stem-and-leaf displays for August and
The National Australia Bank (NAB) produces regular reports titled NAB Online Retail Sales Index . Download the latest in-depth report.a. Give an example of a categorical variable found in the report.b. Give an example of a numerical variable found in the report.c. Is the variable you selected in
A supplier of ‘Natural Australian’ spring water states that the magnesium content is 1.6 mg/L. To check this, the quality control department takes a random sample of 96 bottles during a day’s production and obtains the magnesium content.< SPRING_WATER1 >a. Construct frequency and percentage
The annual crediting rates (after tax and fees) on several managed superannuation investment funds between 2013 and 2017 are:
One of the major measures of the quality of service provided by any organisation is the speed with which the organisation responds to customer complaints. A large family-owned department store selling furniture and flooring, including carpet, has undergone major expansion in the past few years. In
A sample of 500 shoppers was selected in a large metropolitan area to obtain consumer behaviour information. Among the questions asked was, ‘Do you enjoy shopping for clothing?’ The results are summarised in the following cross-classification table.a. Construct contingency tables based on total
The data in the file < BEER > give the alcohol and calorie content of a sample of 95 beers, together with country of origin and type.Your task is to write a report based on a complete descriptive evaluation of each of the numerical variables –calories and alcohol content – regardless of type of
You are planning to study for your statistics examination with a group of classmates, one of whom you particularly want to impress. This individual has volunteered to use Microsoft Excel to get the needed summary information, tables and charts for a data set containing several numerical and
Naturally Soap (see problem 3.22) is interested in exploring the relationship between the price and the quantity sold at each market. < NATURALLY_SOAP >For the Sunday morning and Wednesday evening markets, calculate and interpret the coefficient of correlation between weekly quantity sold and price.
The following table gives the annual increase in the Consumer Price Index (CPI), a measure of inflation in Australia and New Zealand.For each country:a. Calculate the geometric mean inflation rate from 2012 to 2016.b. What conclusions can you draw about the inflation rate in New Zealand and
In this problem you are asked to select an appropriate value for the standard deviation, based on your knowledge of how these variables vary.a. From a sample of 30 petrol stations, the mean price of E10 petrol is $1.56 per litre. Which of the following is a reasonable value for the corresponding
Water_Wise is analysing water usage for a block of onebedroom flats. They collect data on daily water consumption in kilolitres (kl) for 133 consecutive days. < WATER > Explore the daily water usage in this block of flats by:a. plotting the data graphicallyb. calculating the summary statisticsc.
In many manufacturing processes the term ‘work-in-process’(WIP) is used. In a book-manufacturing plant the WIP represents the time it takes for sheets from a press to be folded, gathered, sewn, tipped on end sheets and bound. The following data represent samples of 20 books at each of two
The file < AGE > contains the ages and gender of the Australian population at 30 June 2013 and 2016.a. Calculate the approximate mean age and the approximate standard deviation of age for males and females at 30 June 2013 and 2016.b. What conclusions can you draw about male and female ages in 2013
The data file < GRADES > contains a sample of student marks and grades from a population of students enrolled in a statistics unit.a. Calculate the mean, median, range and standard deviation for total marks. Interpret these measures of central tendency and variability.b. List the five-number
Use the data in problems 2.30 and 2.70 to investigate the distribution of petrol and diesel prices in New South Wales and Queensland. < FUEL_MARCH_2017 >a. Calculate the mean, median, first quartile and third quartile of New South Wales and Queensland petrol and diesel prices. What conclusions can
A quality characteristic of interest for a tea-bag-filling process is the weight of the tea in the individual bags. If the bags are underfilled, two problems arise. First, customers may not be able to brew the tea as strong as they wish. Second, the company may be in violation of the
How do the empirical rule and the Chebyshev rule differ?
What are the differences between the various measures of variation such as the range, interquartile range, variance, standard deviation and coefficient of variation, and what are the advantages and disadvantages of each?
What does the Z score measure?
What is meant by the property of variation?
How do you interpret the first quartile, median and third quartile?
What are the differences between the mean, median and mode, and what are the advantages and disadvantages of each?
What is meant by a property of central tendency?
The data file < MILK > gives nutrition content (number of calories and total fat, in grams) per 250 mL of a random sample of 20 fresh milks available in Australia.a. Calculate the covariance.b. Calculate the coefficient of correlation.c. Which do you think is more valuable in expressing the
A local council is interested in the relationship between the size of local restaurants, measured as number of seats, and their annual water usage, in kilolitres. From a random sample of 10 local restaurants the following information was obtained. < WATER2 >Number of seats XAnnual water usage Y
to investigate the relationship between petrol and diesel prices in New South Wales and in Queensland. < FUEL_2017 >a. Calculate the covariance and coefficient of correlation for diesel and petrol prices in New South Wales.b. Calculate the covariance and coefficient of correlation for diesel and
Use the data in problem
You are interested in the relationship between the number of people in a sales team and the sales generated, in a certain industry.Number of staff 26 18 15 28 19 23 27 23 17 24 Sales 45 38 35 77 33 44 54 55 32 47 These data show gross sales, measured in millions of dollars, and the number of people
The data are from a sample of n = 11 items:X 7 5 8 3 6 10 12 4 9 15 18 Y 21 15 24 9 18 30 36 12 27 45 54a. Calculate the covariance.b. Calculate the coefficient of correlation.c. How strong is the relationship between X and Y? Explain.
and 3.15, representing the waiting times of random samples of customers at two bank branches during the noon to 1 pm lunch period. < BANK1 > < BANK2 >For each bank:a. List the five-number summary of the waiting time at the two bank branches.b. Construct the box-and-whisker plot and describe the
Use the data in problems
Many fast-food chains offer salads and low-fat options on their menu as an alternative to their traditional rolls and burgers.Data for a sample of these alternative and traditional menu items are stored in < HEALTHY_FASTFOOD >. For each product category, use the fat in grams per serve data:a. List
For the daily sales data in problem 3.8: < SALES >a. List the five-number summary.b. Construct the box-and-whisker plot and discuss the daily sales distribution for the store.
For the life of 15-watt CFL light bulbs data in problem 3.10:< BULBS >a. List the five-number summary for each manufacturer.b. Construct the box-and-whisker plot and describe the shape of the distribution for each manufacturer.
can be solved manually or by using Microsoft Excel or PHStat.
to
The data below are a sample of n = 5:7 −5 −8 7 9a. List the five-number summary.b. Construct the box-and-whisker plot and describe the shape.APPLYING THE CONCEPTS Problems
The data below are a sample of n = 7:12 7 4 9 0 7 3a. List the five-number summary.b. Construct the box-and-whisker plot and describe the shape.
The data below are a sample of n = 6:7 4 9 7 3 12a. List the five-number summary.b. Construct the box-and-whisker plot and describe the shape.
The data below are a sample of n = 5:7 4 9 8 2a. List the five-number summary.b. Construct the box-and-whisker plot and describe the shape.
A company wished to study its accounts receivable for two successive months. An independent sample of 50 accounts was selected for each month. The results are in the table below.Frequency Distributions for Accounts Receivable Amount March frequency April frequency$0 to under $2,000 6 10$2,000 to
Given the following frequency distribution for n = 100:
Given the following frequency distribution for n = 100:
The file < HOURS > gives the hours worked during a recent week by all 30 employees of a local bakery.For this week:a. Calculate and interpret the mean hours worked.b. Calculate the variance and standard deviation of the hours worked. Interpret the standard deviation.c. Use the empirical rule or the
The ages, to the nearest year, of all employees at a certain fastfood outlet are:19 19 45 20 21 21 18 20 23 17a. Calculate the mean, variance and standard deviation.b. Calculate the Z scores.c. Based on the results of (a) and (b), what conclusions can you reach about employee ages at this fast-food
Naturally Soap is a small business, based in a coastal town, that makes and sells natural, luxurious, handmade soap bars in a variety of scents. Presently the soap is sold at local markets:Wednesday evening in the coastal town where the business is located, and a scheduled Sunday morning market in
Analyse the road fatality data for 2016 given in< MONTHLY_FATALITY _2016 > for each gender by:a. Calculating the mean, variance and standard deviation.b. Finding the proportion of months that have fatalities within one and two standard deviations of the mean.c. Comparing your findings with what
The data below are for a population with N = 10:7 5 6 6 6 4 8 6 9 3a. Calculate the population mean.b. Calculate the population standard deviation.
The data below are for a population with N = 10:7 5 11 8 3 6 2 1 9 8a. Calculate the population mean.b. Calculate the population standard deviation.
The annual returns (before tax and fees) on several managed superannuation investment funds are:a. For each fund, calculate the geometric rate of return for three years (2015 to 2017) and for five years (2013 to 2017).b. What conclusions can you reach concerning the geometric rates of return for
The five years 2012 to 2016 saw volatility in the value of shares.The data in the following table give the annual percentage change in the share market index for Hong Kong, the Hang Seng, and for Australia, the S&P/ASX 200, for 2012 to 2016a. For each index calculate the geometric rate of return
Data from 100 recent property sales from a council area are stored in < PROPERTY >. For the asking price data, calculate and interpret:a. the mean and median (refer to graphs in problem 2.71)b. the quartilesc. the range and interquartile ranged. the variance and standard deviation.
Suppose that another branch, located in a residential area, is also concerned about the noon to 1 pm lunch hour. The waiting time in minutes (defined as the time the customer enters the line to the time they reach the teller window) of all customers during this hour is recorded over a period of one
A bank branch located in a commercial district of a city has developed an improved process for serving customers during the noon to 1 pm lunch period. The waiting time in minutes(defined as the time the customer enters the line to when they reach the teller window) of all customers during this hour
A manufacturer of torch batteries took a sample of 13 batteries from a day’s production and used them continuously until they were drained. The numbers of hours they were used until failure were: < BATTERIES >a. Calculate the mean, median and mode. Looking at the distribution of times to failure,
The following data refer to the number of kilometres that a sample of 50 people drive to work each day.< TRAVEL_WORK >a. Calculate the mean, median and mode.b. Calculate the range, variance and standard deviation.c. Interpret the summary measures calculated in (a)and (b).
The prices (in dollars) of 14 models of camera at a camera specialty store were as follows. < CAMERA >a. Calculate the mean, median, first quartile and third quartile.b. Calculate the variance, standard deviation, range, interquartile range, coefficient of variation and Z scores. Are there any
The ordered arrays in the table below give the life (in hours of usage) of samples of forty 15-watt CFL (compact fluorescent lamp) energy-saving light bulbs produced by two manufacturers, A and B. < BULBS >
The supervisor of a tourist information desk at a local airport is interested in how long it takes an employee to serve a customer. For a sample of 12 customers, she measures the amount of time taken to serve each one. These times, measured in minutes, are reported below: < TOURIST >
The sales per day, in dollars, at a certain store are:a. Calculate the mean, median, mode, first quartile and third quartile.b. Calculate the variance, standard deviation, range, interquartile range and coefficient of variation.c. What conclusions can you reach about daily sales at this store?
Low-fat foods are not necessarily low calorie, as many low-fat foods are high in sugar. The calories per 250 ml cup of a random sample of brands of fresh cow’s milk for sale in Australia was given in problem 2.14 and stored in < FRESH_MILK >.Using the calorie data for each milk category:a.
The operations manager of a plant that manufactures tyres wants to compare the actual inner diameter of two grades of tyres, each of which is expected to be 575 millimetres. A sample of five tyres of each grade is selected and the results, representing the inner diameters of the tyres, ranked from
Suppose that the rate of return for a particular share during the past two years was 10% and 30%. Calculate the geometric mean rate of return.(Note: A rate of return of 10% is recorded as 0.10 and a rate of return of 30% is recorded as 0.30.)
The data below are a sample of n = 5:7 -5 -8 7 9a. Calculate the mean, median and mode.b. Calculate the range, interquartile range, variance, standard deviation and coefficient of variation.
The data below are a sample of n = 7:12 7 4 9 0 7 3a. Calculate the mean, median and mode.b. Calculate the range, interquartile range, variance, standard deviation and coefficient of variation.
The data below are a sample of n = 6:7 4 9 7 3 12a. Calculate the mean, median and mode.b. Calculate the range, interquartile range, variance, standard deviation and coefficient of variation.c. Calculate the Z scores. Are there any outliers?
The data below are a sample of n = 5:7 4 9 8 2a. Calculate the mean, median and mode.b. Calculate the range, interquartile range, variance, standard deviation and coefficient of variation.c. Calculate the Z scores. Are there any outliers?
The file < CURRENCY2 > contains the value of the Canadian dollar, British pound and Euro for one US dollar from 2002 to 2012.a. Construct sparklines for the value of the US dollar in terms of the Canadian dollar, British pound and Euro.b. What conclusions can you reach about the value of the US
The file < DOMESTIC_BEER2 > contains the number of calories per 355 mL and number of carbohydrates (in grams) per 355 mL for a sample of 15 of the best-selling domestic beers in the United States (data obtained from ).a. Visually evaluate the number of calories per 355 mL for each beer by
(Class project) Classify each student in the class on the basis of gender (male, female), study mode (full-time or part-time) and current employment status (full-time, part-time).a. Construct contingency tables to explore the data.b. What would you conclude from this study?c. What other variables
(Class project) Ask each student in the class to respond to the question ‘Which soft drink do you prefer?’ and display the results in a summary table.a. Convert the data to percentages and construct a bar or pie chart.b. Analyse the findings.
The data in data file < GRADES > contain sample student marks and grades from a population of students enrolled in a statistics unit.a. Construct an appropriate graph to investigate the distribution of grades. What conclusions can you draw?
Using the Australian data from problem 2.72, a PR spokesperson for an Australian political party constructed the following graph to illustrate that the party’s influence has lowered interest rates.Do you think this is an ethical graph? Discuss.
The data in data file < INTEREST_2017 > give the bank interest rate for standard housing loans in New Zealand and Australia from January 2000 to March 2017.Construct and interpret time-series plots, on the same set of axes, for New Zealand and Australian interest rates from January 2000.
Data from 100 recent property sales from a council area are stored in < PROPERTY >.For the asking price data:a. Construct and interpret a stem-and-leaf display.b. Construct frequency, percentage and cumulative distributions.c. Construct a frequency histogram, a percentage polygon and an ogive.d.
On the same day in March 2017, the researcher in problem 2.30 also obtained the prices per litre of unleaded petrol and diesel from a random sample of 45 towns and suburbs in Queensland. This set of data is in the data file < FUEL_ MARCH_2017 > with the New South Wales data.a. Using appropriate
The data in < FRESH_MILK > contains the fat and sugar content in grams (g) per 250 ml cup of a random sample of brands of fresh cow’s milk for sale in Australia.a. Use the combined data to construct graphs to explore the relationship between the variables.b. What conclusions can you reach about
The reasons why Queensland households installed a rainwater tank is given in the table below.
Residents in the seaside town hosting three-day music festival are concerned that the influx of tourists for this and other events causes an increase in traffic and other offences. As the council area has one of the highest drink driving rates in the state, Kai is investigating whether tourists can
The following table classifies road fatalities in Australia for 2012 to 2016 by crash type:
Another poll asked Australians how they spent their time online, with the following result.
One thousand Australians were asked which websites they had visited in the previous week. The results were:
What are the three percentage breakdowns that can help you interpret the results found in a cross-classification table?
What is the difference between a time-series plot and a scatter diagram?
Compare and contrast the bar chart for categorical data and the histogram for numerical data.
What are the advantages and/or disadvantages of a bar chart or a pie chart?
When or why would you construct a summary table?
How do histograms and polygons differ with respect to their construction and use?
Figures 2.1 and 2.3 show a bar chart and a pie chart, respectively, for the online grocery shopping data.a. Create an exploded pie chart, a doughnut chart, a cone chart or a pyramid chart for the online shopping data.b. Which graphs do you prefer? Explain.
An article in the New York Times (D. Rosato, ‘Worried about the numbers? How about the charts?’, New York Times, 15 September 2002, Business 7) reported on research done on annual reports of corporations by Professor Deanna Oxender Burgess of Florida Gulf Coast University. Professor Burgess
The following three time-series plots show Perth’s monthly average petrol prices from January 2006 to February 2017:
and 2.22, following the guidelines for good graphs given in Section 2.7.
Using the data < WINE_PROD_2014_15 > and < ALCOHOL_ CONSUMPTION >, redraw Figures
The following graph shows a relationship between number of pirates and global average temperature between 1820 and 2000. Comment on the influence of pirates on global warming.
(Student project) Bring to class a chart from a newspaper or magazine that you believe contains too many unnecessary adornments (i.e. chartjunk) that may cloud the message given by the data. Be prepared to discuss why you think this.
(Student project) Bring to class a chart from a newspaper or magazine that you believe to be a poor representation of a categorical variable. Be prepared to discuss why you think this.Do you believe that the intent of the chart is purposely to mislead the reader?
(Student project) Bring to class a chart from a newspaper or magazine that you believe to be a poor representation of a numerical variable. Be prepared to discuss why you think this.Do you believe that the intent of the chart is purposely to mislead the reader?
Using the sample of retirement funds stored in< RETIREMENT_FUNDS >:a. What are the attributes of the fund with the highest five-year return?b. What five-year returns are associated with small market cap funds that have a rating of five stars?c. Which fund(s) in the sample have the lowest five-year
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