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principles of managerial statistics

ISE Business Statistics Communicating With Numbers 4th International Edition Sanjiv Jaggia, Alison Kelly - Solutions

* The accompanying data file shows the U.S.inflation rate as measured by the consumer price index from 1990 through 2019. Use the method of runs above and below the median with a significance level
* DJIA. The accompanying data file shows the daily Dow Jones Industrial Average (DJIA) for the 251 trading days in 2019. At the 5% significance level, use the method of runs above and below the
* China_GDP. The accompanying data file shows the gross domestic product (GDP) for China from 1990 through 2018. Use the method of runs above and below the median with a significance level of 5% to
Inspectors. In order to ensure the public’s health and safety, state health inspectors are required to rate the cleanliness and quality of all restaurants in the state. Restaurants that
Mutual_Funds2. The accompanying data file shows the annual returns (in %) for two mutual funds over the past 10 years.a. Specify the competing hypotheses to determine whether the Spearman rank
A research analyst believes that a positive relationship exists between a firm’s advertising expenditures and its sales. For 65 firms, she collects data on each firm’s yearly advertising
PE_Ratio. An economist wants to determine whether the Price/Earnings (P/E) ratio is the same for firms in three industries. Five firms were randomly selected from each industry. The accompanying data
* Test_Centers. A psychiatrist believes that the location of a test center may influence a test taker’s performance. To test his claim, he collects SAT scores from four different locations.The
* Refrigerator. A consumer advocate researches the length of life between two brands of refrigerators, Brand A and Brand B. He collects data on the longevity of 40 refrigerators for Brand A and
Fertilizer. A farmer is concerned that a change in fertilizer to an organic variant might change his crop yield. He subdivides six lots and uses the old fertilizer on one half of each lot and the new
Comparison. The accompanying data file shows the returns for Stock 1 and Stock 2 over the past 11 years.a. Specify the competing hypotheses to determine whether the median difference between the
PharmFirm. The accompanying data file shows the closing stock price (in $) for a phamaceutical firm over the past five days.a. Specify the competing hypotheses to determine whether the median stock
* BioTech. A financial analyst follows the daily stock price of a biotechnology firm over the past year. She wants to test the random walk hypothesis that suggests that stock prices move randomly
* Absenteeism. The superintendent of a large suburban high school must decide whether to close the school for at least two days due to the spread of flu. If she can confirm a trend in absenteeism,
* India_GDP. The accompanying data file shows the growth rate in the gross domestic product (GDP) for India from 1990 through 2018. Use the method of runs above and below the median with a
Given the digits zero through nine, a computer program is supposed to generate even and odd numbers randomly. The computer produced the following sequence of numbers:5 3 4 6 8 0 2 9 7 7 1 6 8 3 1 5 2
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
PhD_Rating. For scholarship purposes, two 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
Water. Concerned 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
Last year, 100 registered voters were asked to rate the effectiveness of the president of the United States. This year, these same people were again asked to make the same assessment.Seventy percent
Consider the following sign data, produced from a matchedpairs sample of ordinal-scaled observations.+ − − + − − + − + − + − − − + −a. Specify the competing hypotheses to
Consider the following sign data, produced from a matchedpairs sample of ordinal-scaled observations.+ + + − + + − + + + + − + + − − + + + +a. Specify the competing hypotheses to determine
Consider the following competing hypotheses and sample data.H 0 : p ≤ 0.50 H A : p > 0.50 n = 25 ¯ p  = 0.64a. Calculate the value of the test statistic for the sign test.b. Calculate the
Consider the following competing hypotheses and sample data.H 0 : p = 0.50 H A : p ≠ 0.50 n = 40 ¯ p = 0.30a. Calculate the value of the test statistic for the sign test.b. Calculate the
* Gambling. The accompanying data file shows the number of cases of crime related to gambling and offenses against the family and children for the 50 states in the United States. Using the Spearman
* Happiness. Many attempts have been made to relate happiness with various factors. One such study relates happiness with age and finds that, holding everything else constant, people are least happy
* GRE_GPA. The director of graduate admissions at a local university is analyzing the relationship between scores on the Graduate Record Examination (GRE) and subsequent performance in graduate
* Price_Days. The accompanying data file shows the price of a house (Price in $1,000s) and the number of days it takes to sell the house (Days) for a sample of eight recent transactions.a. Specify
Assets. You are interested in whether the returns on Asset A (in %) are negatively correlated with the returns on Asset B (in %). You collect six years of annual return data on the two assets.a.
WB_Ranking. The accompanying data file shows the ranking of the richest countries, as measured by per capita GNP. In addition, it gives each country’s rank with respect to infant mortality. A
Judge_Ranking. The accompanying data file shows the ranks given by two judges to the performance of six finalists in a men’s figure skating competition.a. Specify the competing hypotheses to
Consider the following competing hypotheses and accompanying sample data.H 0 : ρ s ≤ 0 H A : ρ s  > 0 r s = 0.64 and n = 50a. What is the value of the test statistic and its associated
Exercise_20.38. The accompanying data file shows six observations for two variables, x and y.a. Specify the competing hypotheses to determine whether the Spearman rank correlation coefficient is less
Exercise_20.37. The accompanying data file shows six observations for two variables, x and y.a. Specify the competing hypotheses to determine whether the Spearman rank correlation coefficient differs
* Job_Satisfaction. A human resource specialist wants to determine whether the median job satisfaction score (on a scale of 0 to 100) differs depending on a person’s field of employment. She
* Exam_Scores. A statistics instructor wonders whether significant differences exist in her students’ median exam scores in her three different sections. She randomly selects scores from 10
Detergents. In order to compare the cleansing action of the top three detergents, 15 swatches of white cloth were soiled with red wine and grass stains and then washed in front-loading machines with
Industry_Returns. A research analyst examines annual returns (in percent) for Industry A, Industry B, and Industry C. The accompanying data file shows the results.a. Specify the competing hypotheses
Bulb. A quality-control manager wants to test whether there is any difference in the median length of life of light bulbs between three different brands. Random samples were drawn from each brand,
Unemployment. A research analyst wants to test whether the median unemployment rate differs from one region of the country to another. She collects the unemployment rate(in percent) of similar-sized
* Exercise_20.30. Random samples were drawn from four independent populations. The accompanying data file shows the results.a. Specify the competing hypotheses to test whether some differences exist
South_Koreans. According to a study, South Koreans spend more hours per year on the job than people in any other developed country. The accompanying data file reports the number of hours worked in
* Spending. Researchers at the Wharton School of Business have found that men and women shop for different reasons. While women enjoy the shopping experience, men are on a mission to get the job
* Income. A study suggests that married men have a higher median income than unmarried men. The accompanying data file shows the incomes (in $1,000s) of six married men and seven unmarried men.a. Set
* Statistics. A professor teaches two sections of an introductory statistics course. He gives each section the same final and wonders if any significant differences exist between the medians of these
Appraisals. A bank employs two appraisers. When approving borrowers for mortgages, it is imperative that the appraisers provide consistent appraisals to the same types of properties. To make sure
Diet. A diet center claims that it has the most effective weight loss program in the region. Its advertisement says, “Participants in our program really lose weight.” Five clients of this program
* Mock_SAT. Suppose eight college-bound students take a mock SAT, complete a three-month test-prep course, and then take the real SAT.a. Specify the competing hypotheses to determine whether the
The following data are provided for two samples drawn from independent populations: W = 545, n1 = 25, and n2 = 25.Suppose the distribution of W is approximately normal.a. Calculate the mean and the
Exercise_20.17. Random samples were drawn from two independent populations. The accompanying data file shows the results.a. Specify the competing hypotheses to determine whether the median of
Exercise_20.16. Random samples were drawn from two independent populations. The accompanying data file shows the results.a. Specify the competing hypotheses to determine whether the median of
Exercise_20.15. The accompanying data file contains information on a matched-pairs sample.a. Specify the competing hypotheses that determine whether the median difference differs from zero.b.
* Exercise_20.14. The accompanying data file contains information on a matched-pairs sample.a. Specify the competing hypotheses that determine whether the median difference between Population 1 and
Consider the following competing hypotheses and accompanying sample data drawn from a matched-pairs sample.H 0 : m D = 0 H A : m D ≠ 0 n = 50 T − = 400 T + = 875a. Determine the value of the test
* Convenience. An entrepreneur examines monthly sales (in $1,000s) for 40 convenience stores in Rhode Island.a. Specify the competing hypotheses to determine whether median sales differ from
* Houses. A realtor believes that the median price of a house is more than $500,000. The accompanying data is in$1,000s.a. Specify the competing hypotheses for the test.b. At the 5% significance
* Wage. An economist wants to test whether the median hourly wage is less than $22.a. Specify the competing hypotheses for the test.b. At the 5% significance level, can you conclude that the median
City_Rent. The accompanying data file lists the average rent per square foot (in $) for 10 cities.a. Specify the competing hypotheses to determine whether the median rent is greater than $25 per
Balanced. The accompanying data file shows the annual returns (in %) for a mutual fund over a 10-year period.a. Specify the competing hypotheses to determine whether the median return is greater than
A random sample of eight drugstores shows the following prices (in $) for a popular pain reliever:5.00 4.25 3.75 5.50 5.75 6.25 5.25 4.25a. Specify the competing hypotheses to determine whether the
Consider the following sample data.105 90 110 80 85 85 103 70 115 75 Assume the normal approximation for T.a. Specify the competing hypotheses to determine whether the median differs from 100.b.
Consider the following competing hypotheses and sample data.H 0 : m ≤ 150 H A : m > 150 n = 30 T −  = 200 T +  = 265a. Assuming that the sampling distribution of T is normally
Consider the following sample data.8 5 11 7 6 5a. Specify the competing hypotheses to determine whether the median is less than 10.b. Calculate the value of the test statistic T.c. The p-value
Consider the following sample data:150 145 138 155 141 152a. Specify the competing hypotheses to determine whether the median is greater than 140.b. Calculate the value of the test statistic T.c. The
Consider the following sample data:25 18 21 27 30a. Specify the competing hypotheses to determine whether the median differs from 20.b. Calculate the value of the test statistic T.c. The p-value
The consumer price index (CPI), with a base of 1982-84, increased from 218.06 in 2010 to 255.66 in 2019. The corresponding increase in the producer price index (PPI) was from 175.40 in 2010 to 196.80
Lindsay Kelly bought 100 shares of a finance firm, 300 shares of a manufacturing firm, and 500 shares of a technology firm in Year 1. The adjusted closing prices of these stocks over the next three
Consider the following table, representing the net revenue and net income of a startup over two years.Both variables are measured in millions of dollars.Year Net Revenue Net Income 1 146.6 21.2 2
Let the quantities corresponding to the prices in the previous exercise be given by the following table.Year Product 1 Product 2 Product 3 2018 90 32 48 2019 82 34 46 2020 76 30 36a. Compute the
Consider the following price data from 2018 to 2020.Year Product 1 Product 2 Product 3 2018 38 94 45 2019 40 92 48 2020 42 98 56a. Compute and interpret the simple price index for each product, using
Price. The accompanying table shows a portion of price data from 2012 to 2020.Year 2012 2013 ⋯ 2020 Price 3.20 3.46 ⋯ 4.70a. Compute the simple price index using 2012 as the base year.b. Update
The following table shows the monthly adjusted closing price per share of a manufacturing firm from October 2019 to March 2020.Date Adjusted Closing Price Date Adjusted Closing Price October 2019
Kim Baek invested $20,000 for a year in corporate bonds. Each bond sold for $1,000 and earned a coupon payment of $80 during the year.The price of the bond at the end of the year dropped to $980.a.
The accompanying table shows the consumer price index for China, India, and the U.S. for 2018 and 2019, each using the base period of 2015. Compute the inflation rate for each country in 2019.Year
Houses. The accompanying table shows a portion of the median sales price of new houses sold in the United States, along with the corresponding consumer price index (CPI).Year Price CPI 2010 221800
Income. Personal income is the income that people receive for labor, land, and capital along with the net current transfer payments that they receive from business and government.The accompanying
Sales. Economists often look at retail sales data to gauge the state of the economy. The accompanying table shows a portion of seasonally adjusted monthly nominal retail sales for 2019, measured in $
The following table represents the nominal values of an item and the corresponding price index for three years.Year Nominal Value Price Index 1 38 100 2 40 103 3 42 112a. Compare the percentage
The following table represents the nominal values of an item and the corresponding price index for two years.Year Nominal Value Price Index 1 38 112 2 40 120a. Compute the inflation rate for year
The nominal values for four years are given by 32, 37, 39, and 42.Convert these values to real terms if the price index values for the corresponding years are given by 100, 102, 103, and 108.
The accompanying table shows the number of SaaS subscriptions for each type of usage for 2018, 2019, and 2020 described in the previous exercise. Use this information, along with the price data
A software company offers several pricing options for its software as a service (SaaS) product. SaaS is a software licensing and delivery model in which software is licensed on a subscription basis
The following table shows the number (in 1,000s) of breakfasts sold at JJ Diner. Use this information, along with the price data provided in the previous exercise, to solve the following
JJ Diner is a small mom and pop restaurant in a small town. They offer three choices for breakfast: omelets, pancakes, or cereal. The average prices (in $) for these options for 2017, 2018, and 2019
A private college in Wisconsin offers an MBA program for executives.The following table shows the tuition for the program from 2014 to 2019.Year 2014 2015 2016 2017 2018 2019 Tuition (in $) 36,850
Returns. According to dollar cost averaging, a fixed amount of money is invested periodically in a portfolio. Consequently, more units of a financial asset are purchased when prices are low and fewer
Tech. The accompanying table shows a portion of the monthly adjusted closing price per share of a technology firm.Month Jan Feb ⋯ Dec Price 16.6 15.8 ⋯ 30.3a. Construct a simple price index with
Gasoline The accompanying table shows a portion of the average monthly prices, for regular gasoline in 2019.($ per gallan)Month Jan Feb ⋯ Dec Price 2.34 2.39 ⋯ 2.65a. Construct a simple price
Use the price and quantity information in the previous exercise to compute the following aggregate price indices, given a base year of 2018.a. The unweighted aggregate price indexb. The Laspeyres
Consider the following price and quantity data for three products from 2018 to 2020.Year Product 1 Product 2 Product 3 2018 Price $14.30 $13.90 $18.10 Quantity 992 1,110 800 2019 Price $14.90 $13.70
Exercise_19.11. The accompanying table shows a portion of the price data from 2012 to 2020.Year 2012 2013 ⋯ 2020 Price 62 60 ⋯ 70a. Compute the simple price index using 2012 as the base year.b.
Exercise_19.10. The accompanying table shows a portion of the simple price index, using 2012 as the base year.Year 2012 2013 ⋯ 2020 Price Index 100 107.2 ⋯ 114.7a. Update the index numbers using
Consider the following adjusted closing stock prices for two software development firms. Compute and compare the monthly returns for both firms from January 2020 to May 2020.Date Firm 1 Firm 2
Consider the following adjusted closing stock prices of a company.Find the monthly returns for January and February of 2020.January 1, 2020 36.82 February 1, 2020 36.20 March 1, 2020 36.07
Bill Anderson purchased 1,000 shares of a company’s stock for $17,100 at the beginning of 2019. At the end of the year, he sold all of his shares at $30.48 a share. He also earned a dividend of
A portfolio manager invested $1,500,000 in bonds.In one year, the market value of the bonds dropped to$1,485,000. The interest payments during the year totaled$105,000.a. What was the manager’s
The year-end price and dividend information on a stock is given in the following table.Year Price Dividend 1 23.50 NA 2 24.80 0.18 3 22.90 0.12 Note: NA denotes not applicable.a. What is the nominal
You bought a corporate bond last year for $980. You received a coupon payment (interest) of $60, and the bond is currently selling for $990. What is the (a) income yield, (b) capital gains yield, and
Consumption. The consumption function is one of the key relationships in economics, where consumption (y) depends on disposable income (x). The accompanying table shows a portion of quarterly data on
Vehicle_Miles. The United States economy picked up speed in 2012 as businesses substantially built up their inventories and consumers increased their spending. This also led to an increase in

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