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business statistics
Statistics For Management And Economics 9th Edition Gerald Keller, Kenneth C Louden - Solutions
Xr12-129 Suppose the survey in the previous exercise also asked those who were not in the top 1%whether they believed that within 5 years they would be in the top 1% (1 will not be in top 1%within 5 years, 2 will be in top 1% within 5 years). Estimate with 95% confidence the number of Americans
Xr12-130 One issue that came up in a recent municipal election was the high cost of housing. A candidate seeking to unseat an incumbent claimed that the average family spends more than 30% of its annual income on housing. A housing expert was asked to investigate the claim. A random sample of 125
Xr12-131 The “just-in-time” policy of inventory control (developed by the Japanese) is growing in popularity. For example, General Motors recently spent $2 billion on its Oshawa, Ontario, plant so that it will be less than 1 hour from most suppliers.Suppose that an automobile parts supplier
Xr12-133 Opinion Research International surveyed people whose household incomes exceed $50,000 and asked them for their top money-related New Year’s resolutions. The responses are 1. Get out of credit card debt 2. Retire before age 65 3. Die broke 4. Make do with current finances 5. Look for
Xr12-134 Suppose that in a large state university(with numerous campuses) the marks in an introductory statistics course are normally distributed with a mean of 68%. To determine the effect of requiring students to pass a calculus test (which is not currently a prerequisite), a random sample of 50
Xr12-135 Duplicate bridge is a game in which players compete for master points. When a player receives 300 master points (some of which must be silver, red, and gold), he or she becomes a life master.Because that title comes with a certificate that some people have framed the American Contract
Xr12-136 A national health-care system was an issue in the 2008 presidential election campaign and is likely to be a subject of debate for many years.The issue arose because of the large number of Americans who have no health insurance. Under the current system, free health care is available to
Xr12-138 As you can easily appreciate, the number of Internet users is rapidly increasing. A recent survey reveals that there are about 50 million Internet users in North America. Suppose that a survey of 200 of these people asked them to report the number of hours they spent on the Internet last
Xr12-140 In an examination of consumer loyalty in the travel business, 72 first-time visitors to a tourist attraction were asked whether they planned to return. The responses were recorded where 2 Yes and 1 No. Estimate with 95% confidence the proportion of all first-time visitors who planned
Xr12-142 Refer to Exercise 12.141. Suppose the engineers recoded the data so that springs of the correct length were recorded as 1, springs that were too long were recorded as 2, and springs that were too short were recorded as 3. Can we infer at the 10%significance level that less than 90% of the
Xr12-146 In Exercise 12.145, suppose that the promoter decided to draw a sample size of 600(because of financial considerations). Each teenager was asked whether he or she would attend the concert(2 Yes, I will attend; 1 No, I will not attend). Estimate with 95% confidence the number of
Xr12-147 The owner of a downtown parking lot suspects that the person he hired to run the lot is stealing some money. The receipts as provided by the employee indicate that the average number of cars parked in the lot is 125 per day and that, on average, each car is parked for 3.5 hours. To
Xr12-148 Jim Cramer hosts CNBC’s Mad Money program. Mr. Cramer regularly makes suggestions about which stocks to buy and sell. How well has Mr. Cramer’s picks performed over the years 2005 to 2007? To answer the question, a random sample of Mr. Cramer’s picks was selected. The name of the
Xr12-149* Unfortunately, it is not uncommon for high school students in the United States to carry weapons (guns, knives, or clubs). To determine how prevalent this practice is, a survey of high school students was undertaken. Students were asked whether they carried a weapon at least once in the
Xr12-150 In 2006, the average household debt service ratio for homeowners was 14.35. The household debt service ratio is the ratio of debt payments to disposable personal income. Debt payments consist of mortgage payments and payments on consumer debts. To determine whether this economic measure
Xr12-151 Refer to Exercise 12.150. Another measure of indebtedness is the financial obligations ratio, which adds automobile lease payments, rental on tenant occupied property, homeowners insurance, and property tax payments to the debt service ratio.In 2005, the ratio for homeowners was 17.62. Can
Xr12-152 Refer to Exercise 12.151. In 2005, the financial obligations ratio for renters was 25.97.Can we infer that financial obligations ratio for renters has increased between 2005 and 2009?(Adapted from Statistical Abstract of the United States, 2009, Table 1135.)
Xr12-153 In 2007, there were 116,011,000 households in the United States. There were 78,425,000 family households made up of married-couple, single-male, and single-female households. To determine how many of each type, a survey was undertaken. The results were stored using the codes 1 married
Xr12-154 Wages and salaries make up only part of a total compensation. Other parts include paid leave, health insurance, and many others. In 2007, wages and salaries among manufacturers in the United States made up an average of 65.8% of total compensation.To determine if this changed in 2008, a
Equal-variance t-test of 12. Inputs: Sample means, sample standard deviations, sample sizes, hypothesized difference between means.Outputs: Test statistic, critical values, and oneand two-tail p-values. Tools: TINV, TDIST
Equal-variance t-estimator of 1 2. Inputs:Sample means, sample standard deviations, sample sizes, and confidence level. Outputs:Upper and lower confidence limits. Tools: TINV
Unequal-variance t-test of 1 2. Inputs:Sample means, sample standard deviations, sample sizes, hypothesized difference between means. Outputs: Test statistic, critical values, and one- and two-tail p-values. Tools: TINV, TDIST
Unequal-variance t-estimator of 1 2.Inputs: Sample means, sample standard deviations, sample sizes, and confidence level.Outputs: Upper and lower confidence limits.Tools: TINV
In random samples of 25 from each of two normal populations, we found the following statistics:a. Estimate the difference between the two population means with 95% confidence.b. Repeat part (a) increasing the standard deviations to s1 255 and s2 260.c. Describe what happens when the sample
In random samples of 12 from each of two normal populations, we found the following statistics:a. Test with .05 to determine whether we can infer that the population means differ.b. Repeat part (a) increasing the standard deviations to s1 210 and s2 198.c. Describe what happens when the
Random sampling from two normal populations produced the following results:x2 = 60 s2 = 7 n2 = 45a. Estimate with 90% confidence the difference between the two population means.b. Repeat part (a) changing the sample standard deviations to 41 and 15, respectively.c. What happens when the sample
For each of the following, determine the number of degrees of freedom assuming equal population variances and unequal population variances.a.b.c.d.
Refer to Exercise 13.9.a. Confirm that in each case the number of degrees of freedom for the equal-variances test statistic and confidence interval estimator is larger than that for the unequal-variances test statistic and confidence interval estimator.b. Try various combinations of sample sizes
Xr13-11 Every month a clothing store conducts an inventory and calculates losses from theft. The store would like to reduce these losses and is considering two methods. The first is to hire a security guard, and the second is to install cameras. To help decide which method to choose, the manager
Xr13-12 A men’s softball league is experimenting with a yellow baseball that is easier to see during night games. One way to judge the effectiveness is to count the number of errors. In a preliminary experiment, the yellow baseball was used in 10 games and the traditional white baseball was used
Xr13-13 A number of restaurants feature a device that allows credit card users to swipe their cards at the table. It allows the user to specify a percentage or a dollar amount to leave as a tip. In an experiment to see how it works, a random sample of credit card users was drawn. Some paid the
Xr13-14 Who spends more on their vacations, golfers or skiers? To help answer this question, a travel agency surveyed 15 customers who regularly take their spouses on either a skiing or a golfing vacation.The amounts spent on vacations last year are shown here. Can we infer that golfers and skiers
Xr13-15 A growing concern among fans and owners is the amount of time to complete a major league baseball game. To assess the extent of the problem, a statistician recorded the amount of time (in minutes) to complete a random sample of games 5 years ago and this year. Can we conclude that games
Xr13-16 How do drivers react to sudden large increases in the price of gasoline? To help answer the question, a statistician recorded the speeds of cars as they passed a large service station. He recorded the speeds (mph) in the same location after the service station sign showed that the price of
Xr13-23 An important function of a firm’s human resources manager is to track worker turnover. As a general rule, companies prefer to retain workers.New workers frequently need to be trained, and it often takes time for new workers to learn how to perform their jobs. To investigate nationwide
Xr13-30 Between Wendy’s and McDonald’s, which fast-food drive-through window is faster? To answer the question, a random sample of service times for each restaurant was measured. Can we infer from these data that there are differences in service times between the two chains? (Source: 2000 QSR
Xr13-31 Lack of sleep is a serious medical problem. It has been linked to heart attacks and automobile collisions.A Statistics Canada study asked a random sample of Canadian adults to report the amount of sleep they normally get. Can we conclude from the data that men and women differ in the amount
GSS2008* Study after study indicates that men earn higher incomes than women. To determine the extent of the differential in 2008, estimate with 95% confidence the difference between male and female (SEX:1 Male, 2 Female) annual incomes (INCOME).
GSS2006* Repeat Exercise 13.38 using data from the 2006 General Social Survey.
[Ch03:\\CPI-Annual] Use the CPI annual to allow a comparison of the results of Exercises 13.38 and 13.39. Is the income differential decreasing?
GSS2008* One of the major economic issues in 2010 was the growing size of federal, state, and municipal payrolls. One issue is that people who work for the government earn more than those who work in the private sector. Conduct a test using the 2008 General Social Survey to determine whether we can
ANES2008* The chapter-opening example compares Republicans and Democrats in terms of whether they had graduated from high school. Another way of judging is to measure the number of years of education(EDUC). Conduct a test to determine whether Republicans have more years of education than do
GSS2008* Do the data from the American National Election Survey in 2008 allow us to infer than males have higher incomes than females (INCOME).
ANES04* Repeat Exercise 13.43 using the ANES data from 2004.
Refer to Exercise 13.17. If the data are observational, describe another conclusion besides the one that infers that Tastee is better for babies.
Suppose that you are analyzing one of the hundreds of statistical studies that link smoking with lung cancer.The study analyzed thousands of randomly selected people, some of whom had lung cancer.The statistics indicate that those who have lung cancer smoked on average significantly more than those
Xr13-52 Many people use scanners to read documents and store them in a Word (or some other software)file. To help determine which brand of scanner to buy, a student conducts an experiment in which eight documents are scanned by each of the two scanners he is interested in. He records the number of
Xr13-53 How effective is an antilock braking system(ABS), which pumps very rapidly rather than lock and thus avoid skids? As a test, a car buyer organized an experiment. He hit the brakes and, using a stopwatch, recorded the number of seconds it took to stop an ABS-equipped car and another
Xr13-54 In a preliminary study to determine whether the installation of a camera designed to catch cars that go through red lights affects the number of violators, the number of red-light runners was recorded for each day of the week before and after the camera was installed. These data are listed
Xr13-55 In an effort to determine whether a new type of fertilizer is more effective than the type currently in use, researchers took 12 two-acre plots of land scattered throughout the county. Each plot was divided into two equal-sized subplots, one of which was treated with the current fertilizer
Xr13-56 The president of a large company is in the process of deciding whether to adopt a lunchtime exercise program. The purpose of such programs is to improve the health of workers and thus reduce medical expenses. To get more information, he instituted an exercise program for the employees in
Xr13-61 The cost of health care is rising faster than most other items. To learn more about the problem, a survey was undertaken to determine whether differences in health-care expenditures exist between men and women. The survey randomly sampled men and women aged 21, 22, . . . , 65 and determined
Xr13-65 Refer to Exercise 13.33. Suppose now we redo the experiment in the following way. On 20 randomly selected cars, one of each type of tire is installed on the rear wheels and, as before, the cars are driven until the tires wear out. The number of miles until wear-out occurred was recorded.
Refer to Exercises 13.33 and 13.65. Explain why the matched pairs experiment produced significant results whereas the independent samples t-test did not.
Xr13-67 Refer to Examples 13.4 and 13.5. Suppose that another experiment is conducted. Finance and marketing MBA majors were matched according to their undergraduate GPA. As in the previous examples, the highest starting salary offers were recorded.Can we infer from these data that finance majors
Discuss why the experiment in Example 13.5 produced a significant test result whereas the one in Exercise 13.67 did not.
Xr13-69 Refer to Example 13.2.The actual after and before operating incomes were recorded.a. Test to determine whether there is enough evidence to infer that for companies where an offspring takes the helm there is a decrease in operating income.b. Is there sufficient evidence to conclude that when
GSS2008* The general trend over the last century is that each generation is more educated that its predecessor.Has this trend continued? To answer this question, determine whether there is sufficient evidence that Americans are more educated than their fathers (EDUC and PAEDUC).
GSS2008* Is there sufficient evidence to infer that Americans are more educated than their mothers(EDUC and MAEDUC)?
GSS2008* If it is true that this generation is more educated than its parents, does it follow that its members have more prestigious occupations? To help answer this question, conduct a statistical procedure to determine whether adults today have more prestigious jobs than their fathers (PRESTG80
ANES2008* Estimate with 95% confidence the average difference between the amount of time spent watching news on television (not including sports) and the amount of time spent reading news in a printed newspaper during a typical day (TIME2 and TIME3).
F-test of . Inputs: Sample variances, sample sizes, and hypothesized ratio of population variances. Outputs: Test statistic, critical values, and one- and two-tail p-values. Tools:FINV, FDIST s2 1>s22
F-estimator of . Inputs: Sample variances, sample sizes, and confidence level.Outputs: Upper and lower confidence limits, Tools: FINV
Random samples from two normal populations produced the following statistics:a. Estimate with 95% confidence the ratio of the two population variances.b. Repeat part (a) changing the sample sizes to n1 25 and n2 25.c. Describe what happens to the width of the confidence interval estimate when
Xr13-78 The manager of a dairy is in the process of deciding which of two new carton-filling machines s21= 28 n1 = 10 s22= 19 n2 = 10 s21= 350 n1 = 30 s22= 700 n2 = 30 to use. The most important attribute is the consistency of the fills. In a preliminary study, she measured the fills in the 1-liter
Xr13-79 An operations manager who supervises an assembly line has been experiencing problems with the sequencing of jobs. The problem is that bottlenecks are occurring because of the inconsistency of sequential operations. He decides to conduct an experiment wherein two different methods are used
Xr13-80 A statistics professor hypothesized that not only would the means vary but also so would the variances if the business statistics course was taught in two different ways but had the same final exam. He organized an experiment wherein one section of the course was taught using detailed
Xr13-82 In Exercise 12.66, we described the problem of whether to change all the lightbulbs at Yankee Stadium or change them one by one as they burn out. There are two brands of bulbs that can be used.Because both the mean and the variance of the lengths of life are important, it was decided to
Xr13-83 In deciding where to invest her retirement fund, an investor recorded the weekly returns of two portfolios for 1 year. Can we conclude that portfolio 2 is riskier than portfolio 1?
A z-test of p1 p2. Inputs: Sample proportions, sample sizes, and hypothesized difference between two populations. Outputs: Test statistic, critical values, and one- and two-tail p-values. Tools: NORMSINV, NORMSDIST
A z-estimate of p1 p2. Inputs: Sample proportions, sample sizes, and confidence level.Outputs: Test statistic, one- and two-tail p-values. Tools: NORMSINV
Random samples from two binomial populations yielded the following statistics:a. Calculate the p-value of a test to determine whether we can infer that the population proportions differ.pN 1 = .45 n1 = 100 pN 2 = .40 n2 = 100b. Repeat part (a) increasing the sample sizes to 400.c. Describe what
These statistics were calculated from two random samples:a. Calculate the p-value of a test to determine whether there is evidence to infer that the population proportions differ.b. Repeat part (a) with and .c. Describe the effect on the p-value of increasing the sample proportions.d. Repeat part
After sampling from two binomial populations we found the following.a. Estimate with 90% confidence the difference in population proportions.b. Repeat part (a) increasing the sample proportions to .48 and .52, respectively.c. Describe the effects of increasing the sample proportions.Applications
Many stores sell extended warranties for products they sell. These are very lucrative for store owners.To learn more about who buys these warranties, a random sample was drawn of a store’s customers who recently purchased a product for which an extended warranty was available. Among other
A firm has classified its customers in two ways:(1) according to whether the account is overdue and(2) whether the account is new (less than 12 months) or old. To acquire information about which customers are paying on time and which are overdue, a random sample of 292 customer accounts was drawn.
Credit scorecards are used by financial institutions to help decide to whom loans should be granted (see the Applications in Banking: Credit Scorecards summary on page 63). An analysis of the records of a random sample of loans at one bank produced the following results:Score Score 600 Below 600 or
Plavix is a drug that is given to angioplasty patients to help prevent blood clots.A researcher at McMaster University organized a study that involved 12,562 patients in 482 hospitals in 28 countries. All the patients had acute coronary syndrome, which produces mild heart attacks or unstable
In a study that was highly publicized, doctors discovered that aspirin seems to help prevent heart attacks. The research project, which was scheduled to last for 5 years, involved 22,000 American physicians (all male). Half took an aspirin tablet three times per week, and the other half took a
According to the Canadian Cancer Society, more than 21,000 women will be diagnosed with breast cancer every year and more than 5,000 will die. (U.S. figures are more than 10 times those in Canada.) Surgery is generally considered the first method of treatment. However, many women suffer recurrences
Xr13-101 Automobile magazines often compare models and rate them in various ways. One question that is often asked of car owners, Would you buy the same model again? Suppose that a researcher for one magazine asked a random sample of Lexus owners and a random sample of Acura owners whether they
Xr13-103 Has the illicit use of drugs decreased over the past 10 years? Government agencies have undertaken surveys of Americans 12 years of age and older. Each was asked whether he or she used drugs at least once in the previous month. The results of this year’s survey and the results of the
Xr13-104 It has been estimated that the oil sands in Alberta, Canada, contain 2 trillion barrels of oil.However, recovering the oil damages the environment.A survey of Canadians and Americans was asked, What is more important to you with regards to the oil sands: (1) environmental concerns or(2)
Xr13-106 Parents often urge their children to get more education, not only for the increased income but also to perhaps work less hard. A survey asked a random sample of Canadians whether they work 11 or more hours a day (1 no, 2 yes) and whether they completed high school only or completed
Xr13-107 Are Americans becoming more unhappy at work? A survey of Americans in 2008 and again this year asked whether they were satisfied with their jobs (1 no, 2 yes). Can we infer that more Americans are unhappy compared to 2008?
Xr13-108 The following question was asked in the three countries in November 2009 and December 2009.Which of the following statements comes closest to your view of global warming (or climate change)?1. Global warming is a fact and is mostly caused by emissions from vehicles and industrial
Xr13-109 Do you agree (1 Yes, 2 No) that climate change and how we respond to it are among the biggest issues that you worry about today? The question was asked in the three countries in November 2008 and November 2009.
Xr13-110* The market for breakfast cereals has been divided into several segments related to health. One company identified a segment as health-conscious adults. The marketing manager would like to know whether this segment is more likely to purchase its Special X cereal, which is pitched toward
Xr13-111* Quik Lube is a company that offers an oil-change service while the customer waits. Its market has been broken down into the following segments:1: Working men and women too busy to wait at a dealer or service center 2: Spouses who work in the home 3: Retired persons 4: Other A random
Xr13-112 Telemarketers obtain names and telephone numbers from several sources. To determine whether one particular source is better than a second, a random sample of names and numbers from the two different sources was obtained. For each potential customer, a statistics practitioner recorded
GSS2008* A generation ago, men were more likely to attend a university and acquire a graduate degree than women. However, women now appear to be attending universities in greater numbers than men. To gauge the extent of the difference, test to determine whether men and women (SEX: 1 Male and 2
GSS2008* The deep recession of 2008–2010 may have changed patterns of employment. Because of the large number of layoffs an increasing number of individuals have chosen to work for themselves. The question arises, Do men and women (SEX: 1 Male and 2 Female) differ in their decision to work
GSS2008* A doctor tells a couple that there is one chance in four that their child will have an inherited disease. Does this mean that if the first child has the illness, the next three will not (ODDS1)? 1 Yes, 2 No. Correct answer: No.
GSS2008* A doctor tells a couple that there is one chance in four that their child will have an inherited disease. Does this mean that each of the couple’s children will have the same risk of suffering the illness(ODDS2)? 1 Yes, 2 No. Correct answer:Yes.
GSS2008* True or false—Earth’s center is very hot.1 True, 2 False. Correct answer: True.
GSS2008* Does Earth go around the Sun or does the Sun go around Earth? 1 Earth around Sun, 2 Sun around Earth. Correct answer: Earth around Sun.For each of the following variables, conduct a test to determine whether there is a difference between 2008 and 2006.
GSS2008* GSS2006* WRKGOVT: Are (were) you employed by the federal, state, or local government or by a private employer (including not-forprofit organizations)? 1 Government, 2 Private.
GSS2008* GSS2006* CAPPUN: Do you favor capital punishment for murder? 1 Favor, 2 Oppose.
GSS2008* GSS2006* GUNLAW: Do you favor requiring a police permit to buy a gun? 1 Favor, 2 Oppose.
GSS2002* GSS2004* GSS2006* GSS2008* Test to determine whether Democrats and Republicans (PARTYID:0 and 1 Democrat and 5 and 6 Republicans)differ in each of the years 2002, 2004, 2006, and 2008 in completing a graduate degree (DEGREE:4 Graduate).
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