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business
statistics for business and economics
Questions and Answers of
Statistics For Business And Economics
Self-managed work teams and family life. Refer to the Quality Management Journal (Summer 1995) study of self-managed work teams (SMWTs), discussed in Exercise 8.118 (p. 494). Recall that the
Groundwater contamination of wells. Methyl tert-butyl ether (MTBE) is a lead fuel additive that can contaminate drinking water through leaking underground storage tanks at gasoline stations. A
Short Message Service for cell phones. Short Message Service (SMS) is the formal name for the communication service that allows short text messages between mobile telephone devices. SMS provides
Ranking PhD programs in economics. Refer to the Southern Economic Journal (April 2008) rankings of 129 PhD programs in economics, Exercise 2.105 (p. 93). Recall that the number of publications
Union negotiation preferences. A union wants to determine the preferences of its members before negotiating with management. Ten union members are randomly selected, and an extensive questionnaire
Does fatigue lead to more defectives? A manufacturer wants to determine whether the number of defectives produced by its employees tends to increase as the day progresses. Unknown to the employees,
Fluoride in drinking water. Many water treatment facilities supplement the natural fluoride concentration with hydrofluosilicic acid in order to reach a target concentration of fluoride in drinking
Flexible working hours program. A job-scheduling innovation that has helped managers overcome motivation and absenteeism problems associated with a fixed 8-hour workday is a concept called flextime.
Cooling method for gas turbines. Refer to the Journal of Engineering for Gas Turbines and Power (January 2005) study of gas turbines augmented with high-pressure inlet fogging, Exercise 8.116 (p.
School property tax rates. An economist is interested in knowing whether property tax rates differ among three types of school districts—urban, suburban, and rural. A random sample of several
Testing electronic circuits. IEICE Transactions on Information & Systems (January 2005) published a comparison of two methods of testing electronic circuits. Each of 11 circuits was tested using the
Performance-based logistics. Refer to the Journal of Business Logistics (Vol. 36, 2015) study of the factors that lead to successful performance-based logistics projects, Exercise 7.142 (p. 427).
Number-one-selling fast-food item. According to the National Restaurant Association, hamburgers are the number-one-selling fast-food item in the United States. An economist studying the
Quality of research methodology in medical journals. The journal eCAM (November 2006) published a study of the quality of the research methodology (e.g., statistical analysis) used in medical
Software millionaires and birthdays. Refer to the analysis of the disproportionate number of software millionaires who were born around the year 1955, Exercise 11.112 (p. 683). Recall that on his Web
Conditions impeding farm production. A review of farmer involvement in agricultural research was presented in the Journal of Agricultural, Biological, and Environmental Statistics (March 2001). In
Wine-tasting experiment. Two expert wine tasters were asked to rank six brands of wine. Their rankings are shown in the table below.a. Use the rankings to compute rs.b. Do the data present sufficient
Is honey a cough remedy? Refer to the Archives of Pediatrics and Adolescent Medicine (December 2007) study of honey as a children’s cough remedy, Exercise 15.28 (p. 15-19). In addition to the two
RIF plan to fire older employees. Reducing the size of a company’s workforce in order to reduce costs is referred to as corporate downsizing or reductions in force (RIF) by the business community
Public defenders’ salaries. Random samples of seven lawyers employed as public defenders were selected from each of three major cities. Their salaries are recorded in the accompanying table. You
Children’s recall of TV ads. Refer to the Journal of Advertising (Spring 2006) study of children’s recall of television advertisements, Exercise 8.103 (p. 491). Two groups of children were shown
Quality of white shrimp. In The American Statistician (May 2001), the nonparametric sign test was used to analyze data on the quality of white shrimp. One measure of shrimp quality is cohesiveness.
An experiment was conducted using a randomized block design with five treatments and four blocks. The data are shown in the table (next column). Do the data provide sufficient evidence to conclude
Two independent random samples produced the measurements listed in the table below. Do the data provide sufficient evidence to conclude that there is a difference between the locations of the
A random sample of nine pairs of observations are recorded on two variables, x and y. The data are shown in the table below.a. Do the data provide sufficient evidence to indicate that r, the rank
The data for three independent random samples are shown in the table below. It is known that the sampled populations are not normally distributed. Use an appropriate test to determine whether the
Sweetness of orange juice. Refer to the orange juice quality study, Exercise 11.26 (p. 642). Recall that a manufacturer that has developed a quantitative index of the “sweetness” of orange juice
Taste testing scales. Refer to the Journal of Food Science (February 2014) taste testing study, Exercise 11.78 (p. 665). Recall that the researchers used the general Labeled Magnitude Scale (gLMS)
Joint Strike Fighter program. Refer to the Air & Space Power Journal (March-April 2014) study of the Joint Strike Fighter (JSF) global defense program, Exercise 11.22 (p. 641). The table below
Food availability at middle schools. Refer to the Journal of School Health (December 2009) study of identifying and quantifying food items in the a la carte line at a middle school, Exercise 15.38
In business, do nice guys finish first or last? Refer to the Nature (March 20, 2008) study of whether the saying “nice guys finish last” applies to business, Exercise 11.18 (p. 639). Recall
Exploitation of workers. Refer to the Academy of Management Journal (December 2019) investigation of workers exploited by upper management, Exercise 11.99 (p. 677). Recall that the researchers
Organizational use of the Internet. Researchers from the United Kingdom and Germany attempted to develop a theoretically grounded measure of organizational Internet use (OIU) and published their
Rankings of marketing journals. College professors earn tenure by publishing in peer-reviewed academic journals. The rankings of these journals (often subjective) play a key role in the tenure
Charisma of top-level leaders. Refer to the Academy of Management Journal (August 2015) study of the charisma of top business leaders, Exercise 11.28 (p. 643). Recall that researchers collected data
Tractor rollover protection. Refer to the Human Factors (February 2020) study of the incorrect usage of tractor foldable rollover protection structures (FROPS), Exercise 11.23 (p. 641). Recall that a
Compute Spearman’s rank correlation coefficient for each of the following pairs of sample observations: x 33 61 20 19 40 y 26 36 65 25 35 x 89 102 120 137 41 y 81 94 75 52 136 x 2 15 4 10 y 11 2 15
The following sample data were collected on variables x and y: x 0 3 0 -4 3 0 4 y 0 2 2 0 3 1 2a. Specify the null and alternative hypotheses that should be used in conducting a hypothesis test to
Specify the rejection region for Spearman’s nonparametric test for rank correlation in each of the following situations:a. H0: r = 0; Ha: r ≠ 0, n = 10, a = .05b. H0: r = 0; Ha:r 7 0, n = 20, a =
Use Table XIV at the end of this chapter to find each of the following probabilities:a. P1rs 7 .5082 when n = 22b. P1rs 7 .4482 when n = 28c. P1rs … .6482 when n = 10d. P1rs 6 -.738 or rs 7 .7382
Irrelevant facial similarity effects on judgment. Refer to the Experimental Psychology (January 2014) investigation of irrelevant facial similarity effects on judgment, Exercise 9.61 (p. 552). Recall
Containers designed to cool citrus fruit. Citrus fruit stacked on pallets is susceptible to damage from high temperatures. Consequently, containers have been designed to keep the fruit cool. The
Reducing on-the-job stress. Refer to the Kansas State study designed to investigate the effects of plants on human stress levels, Exercise 9.60 (p. 552). The data AMSTAR FOOTWEAR PLANTS Review Item 1
Designing footwear to improve posture. Refer to the Human Factors (December 2019) study on the effectiveness of designed footwear for elderly women, Exercise 15.34 (p. 15-24). Remember that data on
A new method of evaluating health care research reports. Refer to The Open Dentistry Journal (Vol. 4, 2010) study of a new method of evaluating health care research reports, Exercise 9.59 (p. 551).
Taste testing scales. Refer to the Journal of Food Science (February 2014) study of two numerical taste test scales, Exercise 9.58 (p. 551). Recall that subjects taste-tested five food/beverage
Peer mentor training at a firm. Refer to the Journal of Managerial Issues (Spring 2008) study of the impact of peer mentor training at a large software company, Exercise 9.55 (p. 550). Recall that
Reducing hand stress with patient transfer devices. Refer to the Human Factors (November 2019) study of frictionreducing patient-transfer devices, Exercise 9.57 (p. 551). Recall that four different
Estimating time needed to complete a task. In project management, estimating the length of time it takes to perform a certain task in a series of short segments generally leads to an underestimation
An experiment was conducted using a randomized block design with four treatments and six blocks. The ranks of the measurements within each block are shown in the table below. Use the Friedman Fr@test
Suppose you have used a randomized block design to help you compare the effectiveness of three different treatments, A, B, and C. You obtained the data given in the table below and plan to conduct a
Logos of brand name products. Refer to the Journal of Marketing Research (October 2019) study of whether the logos of brand name products influence brand authenticity, Exercise 9.80 (p. 569). Recall
Homework assistance for accounting students. Refer to the Journal of Accounting Education (Vol. 25, 2007) study of assisting accounting students with their homework, Exercise 15.24 (p. 15-18). A
Binge watching of streaming TV shows. Refer to the Arab Media & Society (May 15, 2019) investigation of the habits of binge watchers residing in the United Arab Emirates, Exercise 9.22 (p. 529).
Relieving pain with hypnosis. Rehabilitation medicine researchers at the University of Washington investigated whether virtual-reality hypnosis can relieve pain in trauma patients (International
Improving driving performance while fatigued. Refer to the Human Factors (May 2014) study of improving driving performance while fatigued, Exercise 9.31 (p. 531). Recall that 40 college students were
Commercial eggs produced from different housing systems. Refer to the Food Chemistry (Vol. 106, 2008) study of commercial eggs produced from different housing systems for chickens, Exercise 9.33 (p.
Road safety of neighborhoods. The Canadian Journal of Civil Engineering (January 2013) published a study of the optimal layout (design) of streets in a neighborhood to maximize road safety. Five
Containing wildfires. The International Journal of Wildland Fire (December 2011) published a study of the time it takes to contain wildfires, both with and without aerial support. Containment time
Suppose you want to use the Kruskal-Wallis H-test to compare the probability distributions of three populations. The following data represent independent random samples selected from the three
Data were collected from three populations, A, B, and C, using a completely randomized design. The following describes the sample data: nA = nB = nC = 15 RA = 230 RB = 440 RC = 365a. Specify the
Teachers who involve parents. Teachers Involve Parents in Schoolwork (TIPS) is an interactive homework process designed to improve the quality of homework assignments for elementary, middle, and high
Solar energy generation along highways. Refer to the International Journal of Energy and Environmental Engineering (December 2013) study of solar panels constructed above national highways to
Concrete pavement response to temperature. Civil engineers have developed a 3D model to predict the response of jointed concrete pavement to temperature variations (The International Journal of
Taking “power naps” during work breaks. Refer to the study of “power naps” during work breaks, Exercise 8.37 (p. 463). Recall that you analyzed data collected by a major airline that had
Food availability at middle schools. The US Department of Agriculture (USDA) requires schools to offer nutritional food items at lunch. Two methods for identifying and quantifying food items in the
Impact of red-light cameras on car crashes. Refer to the June 2007 Virginia Department of Transportation (VDOT) study of a newly adopted photo-red-light enforcement program, Exercise 8.40 (p. 464).
NHTSA new car crash tests. Refer to the National Highway Traffic Safety Administration (NHTSA) crash test data for new cars In Exercise 8.101 (p. 490) you compared the chest injury ratings of drivers
Healing potential of handling museum objects. Does handling a museum object have a positive impact on a sick patient’s well-being? To answer this question, researchers at the University College
Designing footwear to improve posture. Refer to the Human Factors (December 2019) study on the effectiveness of designed footwear for elderly women, Exercise 8.36 (p. 463). Recall that each of 24
Twinned drill holes. Refer to the Exploration and Mining Geology (Vol. 18, 2009) study of drill twinned holes, Exercise 8.33 (p. 462). Recall that the drilling of a new hole, or “twin,” next to
A paired difference experiment with n = 30 pairs yielded T+ = 354.a. Specify the null and alternative hypotheses that should be used in conducting a hypothesis test to determine whether the
Suppose you want to test a hypothesis that two treatments, A and B, are equivalent against the alternative hypothesis that the responses for A tend to be larger than those for B. You plan to use a
Specify the test statistic and the rejection region for the Wilcoxon signed rank test for the paired difference design in each of the following situations:a. n = 30, a = .10 H0: Two probability
Modeling the deposit share of a retail bank. Exploratory research published in the Journal of Professional Services Marketing (Vol. 5, 1990) examined the relationship between deposit share of a
IBM stock prices. Refer to Example 14.1 (p. 14-5) and the 2019 monthly IBM stock prices.a. Use the exponentially smoothed series (with w = .5) from January to September 2019 to forecast the monthly
Using the CPI to compute real income. The number of dollars a person receives in a year is referred to as his or her monetary (or money) income. This figure can be adjusted to reflect the purchasing
Credit card debt. The annual total credit card debt (in billions of dollars) of US cardholders for the years 2008 to 2018 is provided in the table (next page).a. Use a simple linear regression model
Quarterly GDP values (cont’d). Refer to Exercises 14.66 and 14.67. For each of the forecasting models, apply the MAD, MAPE, and RMSE criteria to evaluate the forecasts for the four quarters of
Quarterly GDP values (cont’d). Refer to Exercise 14.66.a. Use the simple linear regression model fit to the data to forecast the 2020 quarterly GDP. Place 95% prediction limits on the forecasts.b.
Richmond Memorial Hospital in Richmond, Virginia, uses regression analysis to forecast the demand for emergency room services. Specifically, Richmond Memorial uses data on patient visits to the
Quarterly GDP values. The gross domestic product (GDP) is the total US output of goods and services valued at market prices. The beginning of quarter GDP values (in billions of current dollars) for
Investment funds. Annual investment assets (in billions of dollars) from 2000 to 2018 for three fund types provided by US investment corporations are given in the table below. ABBLAB ABBLAB FUNDS
Price of Abbott Labs stock (cont’d). Refer to Exercise 14.63.a. Fit a simple linear regression model to the stock price data.b. Plot the fitted regression line on a scatterplot of the data.c.
200756.15Source: Yahoo.com.
2017 57.07 2005 39.43 2018 72.33 2006 48.71 2019
Price of Abbott Labs stock. The yearly closing prices of Abbott Laboratories stock are shown in the table below.a. Use exponential smoothing with w = .8 to forecast the 2020 and 2021 closing prices.
Mortgage interest rates. Refer to the annual interest rate time series, Exercise 14.41 (p. 14-37). Use w = .3 and v = .7 to compute the Holt forecasts for 2020–2021. Compare these with the linear
Demand for emergency room services. With the advent of managed care, US hospitals have begun to operate like businesses. More than ever before, hospital administrators need to know and apply the
Retail prices of food items. In 1990, the average weekly food cost for a suburban family of four was estimated to be $154.40. The table (next column) presents the retail prices of four food items for
Insured Social Security workers (cont’d). Refer to Exercise 14.58.a. Compute the exponentially smoothed series for the annual number of workers who are fully and permanently insured for Social
155.9 Source: United States Social Security Administration.a. Compute a simple composite index for the number of workers in the three insured categories using 2000 as the base period.b. Is the index,
149.5 2013 165.144.6 149.8 2014 166.8 45.4 150.6 2015 168.5 46.2 151.5 2016 170.2 47.3 152.6 2017 172.2 47.5 154.1 2018 174.3 47.6 155.5 2019 176.2
148.9 2008 156.6 45.0 149.9 2009 158.5 44.6 149.6 2010 160.3 44.0 148.9 2011 161.9 43.8 148.9 2012 163.4
147.3 2007 154.6
143.8 2005 150.2 44.7 145.5 2006 152.4
140.0 2002 144.1 45.3 141.3 2003 146.0 45.0 142.4 2004 148.1
Insured Social Security workers. Workers insured under the Social Security program are categorized as fully and permanently insured, fully but not permanently insured, or insured in the event of
Modeling foreign direct investment. Research published in the Journal of Economics and Finance (Vol. 41, 2017) used a time series regression model to examine the effect of international trade and
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