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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
Refer to the data given in problem
Refer to the data in the previous problem concerning Australian vistors to Singapore.a. Forecast Australian visitors for August 2017 using the Holt–Winters method with U = 0.30 and V = 0.30.b. Repeat (a) with U = 0.70 and V = 0.70.c. Repeat (a) with U = 0.30 and V = 0.70.
Singapore welcomes thousands of Australian visitors each month. Monthly data from February 2016 to July 2017 are contained in < VISITORS >.a. Plot the data.b. Calculate a linear trend forecasting equation.c. Calculate a quadratic trend forecasting equation.d. Calculate an exponential trend
The data contained in < PROFESSIONAL > are the number of males employed full-time in a professional occupation in Australia from the August quarter 1996 to the August quarter 2008.
If using the method of least squares for fitting trends in an annual time series containing 32 consecutive yearly values:a. What coded value do you assign to X for the first year in the series?b. What coded value do you assign to X for the eleventh year in the series?c. What coded value do you
The following data represent petrol consumption for a family’s annual vacation trip.
If the coefficient of determination between two independent variables is 0.75, what is the VIF?
A farmer who specialises in the production of carpet wool where the sheep are shorn twice per year is seeking a 75-mm-length clip from his Tukidale sheep. He believes that the proportion of sheep at each clip meeting this standard varies according to average rainfall during the six-month growing
A large produce distributor is analysing the supply of lamb in Western Australia. She hypothesises that the supply of lamb would be a function of lamb feed price and the supply of beef in the market.
A sample of 300 members from four political parties in Australia are surveyed to determine their preference for the head of government in Australia:
In a phone survey of 200 people conducted in each of five states in Australia the following percentages of respondents said they were searching for a new job:New South Wales 5.5%Queensland 7.5%Tasmania 7%Victoria 6.5%Western Australia 8%a. At the 0.05 level of significance, determine whether there
A fundamental principle in total quality management is the positive relationship between employee satisfaction and customer satisfaction. A business consultant conducts a survey of 15 businesses and measures an index of employee and customer satisfaction.
An educational designer is studying the relationship between student performance and the provision of online learning content. She collects data on student grades and total time spent viewing online lecture content.a. Use the least-squares method to calculate the regression coefficients, b0 and
Management of a soft-drink bottling company wants to develop a method for allocating delivery costs to customers. Although one cost clearly relates to travel time within a particular route, another variable cost reflects the time required to unload the cases of soft drink at the delivery point. A
The tourism industry is exploring the link between exchange rates and overseas visitors. The following data were collected over a two-year period.a. Use the most appropriate method to measure the relationship between the two variables.b. Predict the mean overseas arrivals when the exchange rate is
In problem D.1, an attempt is made to predict inflation on the basis of years of unemployment.a. Construct a 95% confidence interval estimate of the mean inflation rate when the unemployment rate is 3.5%.b. Construct a 95% prediction interval of the inflation rate when the unemployment rate is
One of the most famous concepts in economics is the Phillips Curve, which suggests there is an inverse relationship between inflation and unemployment in an economy. Malaysian data is contained in < PHILLIPS_CURVE > for 2004 to 2014.a. Use the most appropriate method to measure the relationship
Considering the funds for which data is available, does the five-year return fit a normal distribution (α = 0.05)?
Considering the funds for which data is available, does the three-year return fit a normal distribution (α = 0.05)?
a. Classify the traded volume as high if it is at least 1 million and low if less than 1 million. Construct a 3 × 2 contingency table using market capitalisation classification(as in problem 15.63) as the row variable and traded volume as the column variable.b. At the 0.05 level of significance,
a. Classify market capitalisation as high if at least $500m, low if less than $50m and medium otherwise. Ignoring missing data, construct a 2 × 3 contingency table using outperformance fees as the row variable and market capitalisation classification as the column variable.b. At the 0.05 level of
a. Construct a 2 × 2 contingency table using category as the row variable and sign of one-month total return (either negative or non-negative) as the column variable.b. At the 0.05 level of significance, is there evidence of a significant relationship between the category of the investment fund
What social media tools do males and females commonly use?The Sensis Social Media Report 2017 surveyed the percentage of males and females who use the indicated social media tools. A total of 1,178 people were surveyed. Assume that exactly half were males and the other half females. The results are
Assume that the current Queensland Government employment strategy has a fundamental concept that men and women should be treated equally and have the same opportunities in the workplace. As part of the Department of Education and Training program to implement this concept, an initial analysis is
An online streaming company is analysing the relationship between income levels and subscriber download choices – TV shows or movies. A sample of 450 subscribers revealed the following information.
A market researcher was interested in studying the effect of advertisements on the brand preference of new car buyers.Assume that prospective purchasers of new cars were first asked whether they preferred Toyota or Mazda and then shown video advertisements of comparable models from the two
The provision of a swimming pool in a hotel could be expected to depend on factors such as the age and location of the building, level of luxury and the climate. The Trivago.com.au hotel comparison website allows filtering which enables a quick count of pools in the hotels in different cities. The
A survey conducted in China, India and Australia of 283 school teachers in the secondary-level teaching system asked several questions about attitudes towards teaching a business curriculum. The first question asked, ‘Should economics courses place an emphasis on understanding the banking
A company is considering an organisational change by adopting the use of self-managed work teams. To assess the attitudes of company employees towards this change, a sample of 400 employees is selected and asked whether they favour the institution of self-managed work teams in the organisation.
Government researchers are interested in the public’s attitude to supporting an increase in the age pension. The researchers gather information from three age groups, the results of which are shown in the following table.
A company that rents campervans in New Zealand is checking whether the number of days campervans are rented is lower in the South Island than in the North Island. Campervans from this company are not permitted to travel between islands by ferry so no hires are for both islands. The company embarks
A female telemarketer is promoting a new espresso coffee machine. She wishes to analyse the buying intentions of males
Service suppliers tend to cluster close together to minimise competition; so, if you are in an Australian city looking for a Westpac bank and you find an ANZ bank, the one you are actually looking for is likely to be nearby. Major supermarket chains are often near each other, specialist doctors
Under what conditions should you use the χ2 test of independence?
Provide examples of scenarios where you could utilise the χ2 test to examine possible differences in the proportions of more than two independent populations.
Under what conditions should you use the χ2 test rather than the Z test to examine possible differences in the proportions of two independent populations?
A manufacturer claims that the standard deviation in capacity of a certain type of battery the company produces is 2.5 ampere-hours. An independent consumer protection agency wishes to test the credibility of the manufacturer’s claim and measures the capacity of a random sample of 20 batteries
The standard deviation of the weight of smoked salmon produced in 400 g packets is thought to be 5 g. The quality control officer of the processing plant selects a sample of 30 packets filled during the last 24 hours. Their weights are in the file < SALMON >.a. At the 0.05 level of significance, is
A manufacturer of door knobs has a production process that is designed to provide a door knob with a target diameter of 9 cm. In the past, the standard deviation of the diameter has been 0.135 cm. In an effort to reduce the variation, various studies have resulted in a redesigned process. A sample
The marketing manager of a branch office of an energy company wants to study characteristics of residential customers served by her office. In particular, she wants to estimate the mean quarterly cost of gas usage within the local region. In order to determine the sample size necessary, she needs
A market researcher for a car dealer intends to conduct a nationwide survey concerning car repairs. Among the questions included in the survey is the following: ‘What was the cost of all repairs performed on your car last year?’ In order to determine the sample size necessary, he needs to
A manufacturer of peppermint confectionery must monitor the temperature at which the sugar mixture is heated. Too much variation will cause inconsistency in the texture of the peppermints. Past records show that the standard deviation of the temperature has been 1.2°C. A random sample of 30
If, in a sample of size n = 16 selected from a very left-skewed population, the sample standard deviation is S = 24, would you use the one-sample χ2 test in order to test H0: σ = 20? Discuss.
In problems 15.36, 15.37 and 15.38, what is your statistical decision if H1 is:a. σ • 12?b. σ < 12?
In problems 15.36 and 15.37, what are the critical values from Table E.4 if the level of significance α = 0.05 and H1 is as follows:a. σ • 12?b. σ < 12?
In problem 15.36, how many degrees of freedom are there in the one-sample χ2 test?
In a sample of n = 16 selected from an underlying normal population, S = 10. What is the value of the χ2 test statistic if you are testing the null hypothesis H0: σ = 12?
In a sample of n = 25 selected from an underlying normal population, S = 150. What is the value of the χ2 test statistic if you are testing the null hypothesis H0: σ = 100?
Determine the lower- and upper-tail critical values of χ2 for each of the following two-tail tests.a. α = 0.01, n = 24b. α = 0.05, n = 20c. α = 0.10, n = 16
Determine the lower- and upper-tail critical values of χ2 for each of the following two-tail tests.a. α = 0.01, n = 26b. α = 0.05, n = 17c. α = 0.10, n = 14
A random sample of 500 long-distance telephone calls revealed the following distribution of call length(in minutes).a. Calculate the mean and standard deviation of this frequency distribution.b. At the 0.05 level of significance, does call length follow a normal distribution?
A random sample of 500 car batteries revealed the following distribution of battery life (in years)
The manager of a commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years (104 weeks) indicate the following:
Referring to the data in problem 15.28, at the 0.01 level of significance does the distribution of sick days follow a Poisson distribution with a population mean of 1.5 sick days per year?
The manager of a human resources department has collected the number of people absent through illness in the previous 12 months. The results are shown below.
Managed funds provide the individual investor with a convenient medium for diversification. A managed fund spreads its investment over numerous securities, so that individuals who purchase a share in a managed fund are investing in a highly diversified portfolio, something they could not achieve on
A 2011 study by Anna Mieczakowski, Tanya Goldhaber and John Clarkson investigated communication preferences in four countries. The responses for four communication methods have been cross-tabulated in the following table.
In problem 15.20 on page 622, information on political party voting intention and country of origin is presented. Determine at the 0.01 level of significance whether there is a relationship between country of origin and voting intention.
A large corporation is interested in determining whether an association exists between the commuting time of its employees and the level of stress-related problems observed on the job. A study of 116 assembly-line workers reveals the following:a. At the 0.01 level of significance, is there evidence
In problem 15.16 on page 621, information on age group and preference for low-carbohydrate beer is presented. Test whether age group and low-carbohydrate beer are independent. (Use α = 0.05.)
When performing a χ2 test for independence in a contingency table with r rows and c columns, determine the upper-tail critical value of the χ2 test statistic in each of the following circumstances.a. α = 0.05, r = 4 rows, c = 5 columnsb. α = 0.10, r = 4 rows, c = 5 columnsc. α = 0.01, r = 5
If a contingency table has five rows and six columns, how many degrees of freedom are there for the χ2 test for independence?
An election polling company in Australia wishes to determine whether those born overseas have similar party voting intentions to those born in Australia. A random sample of 118 registered voters was taken and classified by their country of origin and political voting intention.Country of origin
A travel company believes there is a difference in the ages of people, divided simply between younger and older, based on the place they choose for a tropical holiday. A sample of travellers to three destinations on the basis of age is collected.Determine at 95% statistical significance whether
The availability of free WiFi Internet connections in hotel rooms varies considerably with the luxury level of the hotel and the country. Despite changing attitudes to the necessity of providing free WiFi access, many upmarket hotels are still charging guests to use WiFi in their rooms. A survey
The staff at Xavier University in Victoria believe that the academic capacity of students from high schools varies depending on the area of study they enrol in. Using the Australian Tertiary Admission Rank (ATAR) as the measure of academic capacity, the data below are tabulated for a sample of
Micro Brewery is interested in whether there is a difference in the proportion of people of different age groups who prefer low-carbohydrate beer. The table below contains the survey results.a. Determine at a 5% level of statistical significance whether there is a difference in the proportion of
Repeat (a) and (b) of problem 15.14, assuming that only 50 shoppers for each age category were surveyed. Discuss the implications of sample size on the χ2 test for differences in more than two populations.
Although online grocery shopping is now possible, supermarket shopping is still the most common method that Australians use to buy their groceries. Assume that a market research company examining supermarket operations throughout the week interviewed shoppers who buy groceries in person in order to
A survey was conducted in five countries. The percentages of respondents whose household members own more than one laptop computer are as follows.
Using the following contingency table:
Using the following contingency table:a. Calculate the expected frequencies for each cell.b. Calculate the χ2 statistic for this contingency table. Is it significant at α = 0.01?c. If appropriate, use the Marascuilo procedure and α = 0.01 to determine which groups are different.
Consider a contingency table with two rows and five columns.a. Find the degrees of freedom.b. Find the critical value for α = 0.05.c. Find the critical value for α = 0.01.
Non-response to mail, telephone and interview surveys is a continual problem for researchers. The problem is knowing whether the individuals who do not respond form a separate subsample of the population. If they do, then the data collected are biased because they do not represent this subsample of
In order to test the puncture resistance of the new SDsandtrak tyre, a new type of off-road vehicle tyre, 120 of the new tyres and 180 standard SD tyres are driven over the same hazardous 500-kilometre course in Central Australia. Just six of the SDsandtrak tyres are punctured whereas 18 of the
A company is about to enter into wage negotiations with its workers and must choose between enterprise (collective)bargaining or individual contracts as its mode of negotiation.Out of a sample of 165 blue-collar workers, 112 preferred enterprise bargaining while 23 out of 48 white-collar workers
In a study of share market investments, a sample of 334 Chinese and 116 Japanese business executives were asked, ‘Do you privately own shares on the stock market?’ It is expected that the longer history of free-market activity in Japan compared with China will show that Japanese executives are
A car importer believes that black-coloured cars are more often chosen by male buyers than by females. A survey is conducted to ask, ‘Do you prefer black-coloured cars?’ The survey results are available only as percentages and no sample sizes were given.a. Assume that 50 men and 50 women were
For this problem, use the following contingency table.
In this problem, use the following contingency table.a. Find the expected frequency for each cell.b. Compare the observed and expected frequencies for each cell.c. Calculate the χ2 statistic. Is it significant at α = 0.05?
Determine the critical value of χ2 in each of the following circumstances.a. α = 0.95, df = 4b. α = 0.975, df = 26c. α = 0.99, df = 15
Determine the critical value of χ2 in each of the following circumstances.a. α = 0.01, df = 12b. α = 0.025, df = 23c. α = 0.05, df = 24
William Tanner, the owner of a vineyard in the Barossa Valley, South Australia, has collected the following information describing the prices and quantities of harvested crops for the years 2014 and 2017.a. Calculate the Paasche index with 2014 as the base year.b. Calculate the Laspeyres index with
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 table below present the annual dividend return for Coca-Cola shares from 2001 to 2013. < COKE >
You are an analyst for a company preparing a report on the potential closure of Essendon Airport in Melbourne. Assume that the following data represent the number of light aircraft overhauls completed at the airport from 1990 to 2005. You need to estimate the likely demand for 2008 and 2009 after
The labour force participation of older workers is an increasingly important policy topic in the context of ageing populations. The following displays labour force participation rates for males aged 55–59 in Australia from 1967 to 2010. < LFPR >
The data stored in < MCDONALDS > represent the gross revenues (in billions of current dollars) of McDonald’s Corporation from 1975 to 2012.a. Plot the data.b. Calculate the linear trend forecasting equation.c. Calculate the quadratic trend forecasting equation.d. Calculate the exponential trend
What is the difference between the Paasche price index and the Laspeyres price index?
What is the difference between a simple price index and an aggregate price index?
What is an index number?
How does forecasting for monthly or quarterly data differ from forecasting for annual data?
What is the major difference between using SYX and MAD for evaluating how well a particular model fits the data?
What are the different approaches to choosing an appropriate forecasting model?
How does Holt–Winters modelling differ from the other approaches to forecasting?
How does the least-squares linear trend forecasting model, developed in this chapter, differ from the least-squares linear regression model considered in Chapter 12?
Under what circumstances would you adopt a linear trend forecasting model versus a quadratic model?
What is the difference between moving averages and exponential smoothing?
Describe the main components that constitute the classical multiplicative time-series model.
What is a time series?
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