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business
statistics for business and economics

Questions and Answers of Statistics For Business And Economics

A manufacturer of automobile batteries claims that the distribution of the lengths of life of its best battery has a mean of 54 months and a standard deviation of 6 months. Recently, the manufacturer
Refer to Example 4.13 and the problem of sampling workers to determine whether they are in favor of unionization. We assumed that 60% of all workers at a large plant were, in fact, in favor of
Refer to Example 5.10. Again, assume that 60% of all workers at a large plant are in favor of unionization. In a random sample of 100 plant workers, what is the probability that fewer than half are
Consider the following three measurements: 0, 4, and 12. Find the z-score for each measurement if they are from a population with a following mean and standard deviation equal toa. µ = 2 and σ =
Refer to Exercise 2.141. Assuming all populations are approximately mound-shaped, for parts a–d, determine whether the values 0, 4, and 12 are outliers.Data from Exercise 2.141Consider the
The amount spent on textbooks for the fall term was recorded for a sample of five university students. The following data were observed: $400, $350, $600, $525, and $450.Calculate each of the
A statistician keeps track of every serve that a player hits during the U.S. Open Tennis Championship. The statistician reports that the mean serve speed was 100 miles per hour (mph) and the
To develop programs for business travelers staying at convention hotels, a major hotel chain commissioned a study of executives who play golf. The study revealed that 55% of the executives admitted
An investor in wheat futures is concerned with the following events:Based on available information, the investor believes that the probability is .01 that production of wheat will be profitable
Consider the experiment of tossing a fair die and letAre events A and B independent? A: (Observe B: {Observe an even number.} a number less than or equal to 4.}
A county welfare agency employs 10 welfare workers who interview prospective food stamp recipients. Periodically the supervisor selects, at random, the forms completed by 2 workers to audit for
Refer to the consumer product complaint study in Example 3.16. The percentages of complaints of various types during and after the guarantee period are shown in Table 3.6. Define the following
Refer to Example 3.5 (pp. 164–165). Recall that USA Today found that of all U.S. firms that use diversity training, 38% state that their primary reason for using it is to stay competitive.a. What
Electric wheelchairs are difficult to maneuver for many disabled people. In a paper presented at the 1st International Workshop on Advances in Service Robotics (March 2003), researchers applied
Australia has developed a General Purpose Water Accounting (GPWA)reporting system in an effort to provide a financial accounting of water use in the country. The perceptions of potential users of the
Refer to Exercise 2.27 and the data on state SAT scores. Construct a scatterplot for the data, with 2010 Math SAT score on the horizontal axis and 2014 Math SAT score on the vertical axis. What type
If the range of a set of data is 20, find a rough approximation to the standard deviation of the data set.
The American Bankruptcy Institute and the National Bankruptcy Research Center monitor the number of business bankruptcy filings each quarter. The table below lists the number of business bankruptcy
An experiment results in one of the following sample points: E1, E2, E3, or E4. Find P(E4) for each of the following cases. a. P(E₁) = .1, P(E₂) .2, and P(E3) b. P(E₁)=P(E₂) = P(E3) =
Consider an experiment in which two smartphones are randomly selected from an assembly line during manufacturing. The defective status—defective (D) or not (N)—of each is determined. The sample
Going Green is the term used to describe water conservation programs at hotels and motels. Many hotels now offer their guests the option of participating in these Going Green programs by reusing
Diversity training of employees is the latest trend in U.S. business. USA Today reported on the primary reasons businesses give for making diversity training part of their strategic planning process.
A fair die is tossed, and the up face is observed. If the face is even, you win $1. Otherwise, you lose $1. What is the probability that you win?
Three fair coins are tossed and either heads (H) or tails (T)is observed for each coin. a. List the sample points for this experiment.b. Assign probabilities to the sample points.c. Determine the
You have the capital to invest in two of four ventures, each of which requires approximately the same amount of investment capital. Unknown to you, two of the investments will eventually fail and two
Refer to Example 3.6, where we selected two ventures from four in which to invest. Use the Combinations Rule to determine how many different selections can be made.Data form Example 3.6You have the
Consider the die-toss experiment. Define the following events:a. Describe A ⋃ B for this experiment.b. Describe A ⋂ B for this experiment.c. Calculate P(A ⋃ B) and P(A ⋂ B) assuming the die
Suppose you plan to invest equal amounts of money in each of five business ventures. If you have 20 ventures from which to make the selection, how many different samples of five ventures can be
Many firms undertake direct marketing campaigns to promote their products. The campaigns typically involve mailing information to millions of households. The response rates are carefully monitored to
In an exit poll, 45% of voters said that the main issue affecting their choice of candidates was the economy, 35% said national security, and the remaining 20% were not sure. Suppose we select one of
Suppose you are interested in the probability of the sale of a large piece of earth moving equipment. A single prospect is contacted. Let F be the event that the buyer has sufficient money (or
Hospital records show that 12% of all patients are admitted for surgical treatment, 16% are admitted for obstetrics, and 2% receive both obstetrics and surgical treatment. If a new patient is
In a survey conducted by the International Nanny Association (INA) and reported at the INA Web site (www.nanny.org), 4,176 nannies were placed in a job in a given year. Only 24 of the nannies placed
The investigation of consumer product complaints by the Federal Trade Commission (FTC) has generated much interest by manufacturers in the quality of their products. A manufacturer of an
An unmanned monitoring system uses high-tech video equipment and microprocessors to detect intruders. A prototype system has been developed and is in use outdoors at a weapons munitions plant. The
A number between 1 and 10, inclusive, is randomly chosen, and the events A and B are defined as follows:a. Identify the sample points in the event A ⋃ b.b. Identify the sample points in the event A
The manager of an advertising department has asked her creative team to propose six new ideas for an advertising campaign for a major client. She will choose three of the six proposals to present to
The U.S. Census Bureau reports a growth in the percentage of mothers in the workforce who have infant children. The following table gives a breakdown of the marital status and working status of
Which of the following pairs of events are mutually exclusive? Justify your response.a. {The next customer entering a retail store is older than 30 years.}, {The next customer entering the same
A sample space consists of three sample points, S1, S2, and S3, with P(S1) = .1, and P(S2) = .2.a. Assign a probability to S3 in a way that the three sample points define a valid sample space obeying
For two events A and B, suppose P(A) = .7, P(B) = .5, and P(A ∩ B) = .4. Find P(A ∪ B).
Consider two events A and B, with P(A) = .1, P(B) = .2, and P(A ⋂ B) = 0.a. Are A and B mutually exclusive?b. Are A and B independent?
From a production batch with 16 items, 8 items are randomly selected for quality assurance. In how many different ways can the sample be drawn? Suggest an estimate before computing the exact number.
In agriculture, a main cause of fatal injuries is tractor rollover. To combat this problem, tractor manufacturers have installed foldable rollover protection structures (FROPS). Human Factors
Smart Insights reported on the “search” shares (i.e., percentage of all Internet searches) for the most popular search engines available on the Web. In Jan. 2020, Google accounted for 73% of all
For each of the following studies, give the parameter of interest and state any assumptions that are necessary for the inferences to be valid.a. Human Factors (December 2015) published a study on how
To improve quality, productivity, and timeliness, many American industries employ self-managed work teams (SMWTs). Because SMWTs require that employees be trained in interpersonal skills, they can
Consider dot plots 1 and 2 shown below. Assume that the two samples represent independent, random samples corresponding to two treatments in a completely randomized design.a. In which plot is the
The US Tobacco Control Act restricts cigarette advertisers from explicitly stating that their product is less harmful than others. However, marketers use terms like “organic” or “natural”
A randomized field experiment was carried out to determine how workers respond to wage cuts and the results published in Institute for the Study of Labor: Discussion Paper Series (March 2011). A
Long-haul truck drivers are often asked to drive while fatigued. Can a secondary task—such as a word association task—improve the performance of a fatigued driver? This was the question of
The performances of public bus depots in India were evaluated and ranked in the International Journal of Engineering Science and Technology (February 2011). A survey was administered to 150 customers
Consider a completely randomized design with k treatments. Assume all pairwise comparisons of treatment means are to be made using a multiple comparisons procedure. Determine the total number of
Define an experimentwise error rate.
What is the level of stress (if any) that cows undergo prior to being slaughtered? To answer this question, researchers designed an experiment involving cows bred in Normandy, France (Applied Animal
Define a comparisonwise error rate.
When planning for a new forest road to be used for tree harvesting, planners must select the location to minimize tractor skidding distance. In the Journal of Forest Engineering, researchers wanted
Recently, a case of salmonella (bacterial) poisoning was traced to a particular brand of ice cream bar, and the manufacturer removed the bars from the market. Despite this response, many consumers
When companies employ control charts to monitor the quality of their products, a series of small samples is typically used to determine if the process is “in control” during the period of time in
Acid has been found to be a primary cause of dental caries (cavities). It is theorized that oral mouthwashes contribute to the development of caries due to the antiseptic agent oxidizing into acid
The National Association of Realtors (NAR) reported the results of a July 2019 survey of home buyers. One question pertained to the first step in the home search process. In a random sample of 5,870
The potential of using solar panels constructed above national highways to generate energy was explored in the International Journal of Energy and Environmental Engineering (December 2013). Two-layer
The Washington Post (January 30, 2020) reported on a study conducted by the AAA Foundation for Traffic Safety to investigate a possible link between legalization of marijuana and fatal vehicle
“Take the Pepsi Challenge” was a famous marketing campaign used by the Pepsi-Cola Company. Coca-Cola drinkers participated in a blind taste test where they were asked to taste unmarked cups of
a. List three factors that will increase the power of a test.b. What is the relationship between b, the probability of committing a Type II error, and the power of a test?
If you select a very small value for α when conducting a hypothesis test, will b tend to be big or small? Explain.
The Academy of Management Journal (December 2019) published a study on how men and women differ in negotiating for career advancement. The researchers interviewed 49 civil servants (27 men and 22
If the rejection of the null hypothesis of a particular test would cause your firm to go out of business, would you want α to be small or large? Explain.
Merck Research Labs conducted an experiment to evaluate the effect of a new drug using the single-T swim maze. Nineteen impregnated dam rats were captured and allocated a dosage of 12.5 milligrams of
Will the 2020 US Census ask you if you are a US citizen? This was one of the questions of interest in a Pew Internet & American Life Project Survey (January 2020). The answer is “no,” but in
In 1894, druggist Asa Candler began distributing handwritten tickets to his customers for free glasses of Coca-Cola at his soda fountain. That was the genesis of the discount coupon. In 1975, it was
During periods of high electricity demand, especially during the hot summer months, the power output from a gas turbine engine can drop dramatically. One way to counter this drop in power is by
“Hot tamales” are chewy, cinnamon- flavored candies. A bulk vending machine is known to dispense, on average, 15 hot tamales per bag with a standard deviation of 3 per bag. Chance (Fall 2000)
In auction bidding, the “winner’s curse” is the phenomenon of the winning (or highest) bid price being above the expected value of the item being auctioned. The Review of Economics and
Many companies now use text messaging on cell phones as a means of marketing their products. One way to do this is to send a redeemable discount coupon (called an m-coupon) via a text. The redemption
The Harris Poll conducted an online survey of parents of children who play sports for TD Ameritrade (April 2019). Over half of the 1,001 parents interviewed were highly hopeful or certain their
When new instruments are developed to perform chemical analyses of products (food, medicine, etc.), they are usually evaluated with respect to two criteria: accuracy and precision. Accuracy refers to
The Federal Highway Administration (FHWA) recently issued new guidelines for maintaining and replacing traffic signs. Civil engineers at North Carolina State University conducted a study of the
Salmonella infection is the most common type of bacterial food-borne illness in the United States. How prevalent is salmonella in produce grown in the major agricultural region of Monterey,
How much assistance should accounting professors provide students for completing homework? Is too much assistance counterproductive? These were some of the questions of interest in a Journal of
More than 1 million heart patients each year undergo an angioplasty. The benefits of an angioplasty were challenged in a study of 2,287 patients (2007 Annual Conference of the American College of
How does gender affect the type of advertising that proves to be most effective? An article in the Journal of Advertising Research makes reference to numerous studies that conclude males tend to be
The conversion of biomass to energy is critical for producing transportation fuels. How willing are producers to supply biomass products such as cereal straw, corn stover, and surplus hay? To answer
Gonzaga University professors conducted a study of television commercials and published their results in the Journal of Sociology, Social Work and Social Welfare (Vol. 2, 2008). The key research
The use of Twitter for marketing political candidates has increased dramatically over the past several years. The Journal of Marketing Research (December 2019) published a study comparing tweeting
Is housework hazardous to your health? A study in Public Health Reports compared the life expectancies of 25-yearold white women in the labor force with those who are housewives. How large a sample
Marketing strategists would like to predict consumer response to new products and their accompanying promotional schemes. Consequently, studies that examine the differences between buyers and
CareerBank.com conducts an annual salary survey of accounting, finance, and banking professionals. For one survey, data were collected for 2,800 responses submitted online by professionals across the
Some power plants are located near rivers or oceans so that the available water can be used for cooling the condensers. Suppose that, as part of an environmental impact study, a power company wants
Facility layout and material flowpath design are major factors in the productivity analysis of automated manufacturing systems. Facility layout is concerned with the location arrangement of machines
Even though Japan is an economic superpower, Japanese workers are in many ways worse off than their US and European counterparts. For example, the estimated average housing space per person (in
Professional caregivers suffer from a high prevalence of muscle stress when transferring patients. Are commercially available friction-reducing patient-transfer devices effective in reducing stress?
Before marketing a new food product, companies evaluate the palatability of the food item using a numerical taste test scale. For example, the Hedonic 9-point scale uses the following ratings: 1 =
When evaluating research reports in health care, a popular tool is the Assessment of Multiple Systematic Reviews (AMSTAR). AMSTAR, which incorporates 11 items (questions), has been widely accepted by
A randomized block design yielded the following ANOVA table.a. How many blocks and treatments were used in the experiment?b. How many observations were collected in the experiment?c. Specify the null
The partially complete ANOVA table given next is for a two-factor factorial experiment.a. Give the number of levels for each factor.b. How many observations were collected for each factorlevel
Organic coatings that use epoxy resins are widely used for protecting steel and metal against weathering and corrosion. Researchers at National Technical University (Athens, Greece) examined the
The partially completed ANOVA for a 3 * 4 factorial experiment with two replications is shown below.a. Complete the ANOVA table.b. Which sums of squares are combined to find the Sum of Squares for
The following two-way table gives data for a 2 * 3 factorial experiment with two observations for each factor-level combination.a. Identify the treatments for this experiment. Calculate and plot the
The next table gives data for a 2 * 2 factorial experiment with two observations per factor-level combination.a. Identify the treatments for this experiment. Calculate and plot the treatment means,

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