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mathematics
basic business statistics

Questions and Answers of Basic Business Statistics

The file MobileCommerce contains the following mobile commerce penetration values, the percentage of the country population that bought something online via a mobile phone in the past month, for 28
The annual NFL Super Bowl is the most widely watched sporting event in the United States each year. In recent years, there has been a great deal of interest in the ads that appear during the game.
The file AirportRating contains the rating of large and medium size airports in the United States and Canada.Source: Data extracted from N. Trejos, “Portland, Indianapolis Top Airport Rankings, USA
The file MobileSpeed contains the overall download and upload speeds in mbps for nine carriers in the United States.For the download speed and the upload speed separately:a. Compute the mean and
According to the U.S. Census Bureau (census.gov), in 2016, the median sales price of new houses was $315,500 and the mean sales price was $370,800.a. Interpret the median sales price.b. Interpret the
Wired, a magazine that delivers a glimpse into the future of business, culture, innovation, and science, reported the following summary for the household incomes of its two types of subscribers, the
Suppose that the rate of return for a particular stock during the past two years was 20% for the first year and -30% for the second year. Compute the geometric rate of return per year.
Suppose that the rate of return for a particular stock during the past two years was 10% for the first year and 30% for the second year. Compute the geometric rate of return per year.
Referring to the results from Problem 2.100 on page 86 concerning the weights of Boston and Vermont shingles, write a report that evaluates whether the weights of the pallets of the two types of
A/B testing allows businesses to test a new design or format for a web page to determine if the new web page is more effective than the current one. Web designers decide to create a new
The file Currency contains the exchange rates of the Canadian dollar, the Japanese yen, and the English pound from 1980 to 2016, where the Canadian dollar, the Japanese yen, and the English pound are
The data stored in Drink represent the amount of soft drink in a sample of 50 consecutively filled 2-liter bottles.a. Construct a time-series plot for the amount of soft drink on the Y axis and the
The file Natural Gas contains the U.S. monthly average commercial and residential price for natural gas in dollars per thousand cubic feet from January 2008 through December 2016.Source: Data
What was the average price of a room at two-star, threestar, and four-star hotels around the world during 2016? The file Hotel Prices contains the average hotel room prices in Canadian dollars (about
Studies conducted by a manufacturer of Boston and Vermont asphalt shingles have shown product weight to be a major factor in customers’ perception of quality. Moreover, the weight represents the
The file CEO2016 includes the total compensation (in $millions) for CEOs of 200 S&P 500 companies and the one-year total shareholder return in 2016.Source: Data extracted from bit.ly/1QqpEUZ.For
The file CDRate contains the yields for one-year certificates of deposit (CDs) and for five-year CDs for 39 banks in the United States, as of January 9, 2017.Source: Data extracted and compiled from
The file CigaretteTax contains the state cigarette tax ($) for each state and the District of Columbia as of January 1, 2017.a. Construct an ordered array.b. Plot a percentage histogram.c. What
The Air Travel Consumer Report, a monthly product of the Department of Transportation’s Office of Aviation Enforcement and Proceedings (OAEP), is designed to assist consumers with information on
B2B marketers in North America were surveyed about content marketing usage, organization, and success. Content marketers were asked about how content marketing is structured within their organization
The following table represents the market share (in number of movies, gross in millions of dollars, and millions of tickets sold) of each type of movie in 2016:a. Construct a bar chart, a pie chart,
How can a multidimensional table differ from a two-variable contingency table?
What are the three different ways to break down the percentages in a contingency table?
Why is it said that the main feature of a Pareto chart is its ability to separate the “vital few” from the “trivial many”?
Why would you construct a summary table?
The file Natural Gas includes the monthly average commercial price for natural gas (dollars per thousand cubic feet) in the United States from January 1, 2008, to December 2016.Source: Data extracted
The data in NewHomeSales includes the median sales price of new single-family houses sold in the United States recorded at the end of each month from January 2000 through December 2016.Source: Data
In the sample of 479 retirement funds (Retirement Funds), what characteristics are associated with the funds that have the lowest five-year return?
Using the sample of retirement funds stored in Retirement Funds:a. Construct one chart that visualizes 10YrReturn and 1YrReturn by Market Cap.b. Construct one chart that visualizes 5YrReturn and
In the sample of 479 retirement funds (Retirement Funds), which funds in the sample have the lowest five-year return?
Using the sample of retirement funds stored in Retirement Funds:a. Construct a chart that visualizes SD and Assets by Risk Level.b. Construct a chart that visualizes SD and Assets by Fund Type.
Using the sample of retirement funds stored in Retirement Funds:a. Construct a table that tallies type, market cap, risk, and rating.b. What conclusions can you reach concerning differences among the
The Super Bowl is a big viewing event watched by close to 200 million Americans that is also a big event for advertisers. The file SuperBowlAds contains the number of ads that ran between the opening
The file Movie Attendance16 contains the yearly movie attendance (in billions) from 2001 through 2016.a. Construct a time-series plot for the movie attendance (in billions).b. What pattern, if any,
The file NewHomeSales contains the number of new homes sold (in thousands) and the median sales price of new single-family houses sold in the United States recorded at the end of each month from
The file MobileSpeed contains the overall download and upload speeds in mbps for nine carriers in the United States.a. Do you think that carriers with a higher overall download speed also have a
Movie companies need to predict the gross receipts of individual movies once a movie has debuted. The following results, stored in PotterMovies , are the first weekend gross, the U.S. gross, and the
The following is a series of annual sales (in $millions) over an 11-year period (2007 to 2017):a. Construct a time-series plot.b. Does there appear to be any change in annual sales over time?
The file Bulbs contains the life (in hours) of a sample of forty 6-watt light emitting diode (LED) light bulbs produced by Manufacturer A and a sample of forty 6-watt light emitting diode (LED) light
The financial services call center in Problem 2.44 also monitors call duration, which is the amount of time spent speaking to customers on the phone. The file CallDuration contains the following data
Call centers today play an important role in managing dayto-day business communications with customers. Call centers must be monitored with a comprehensive set of metrics so that businesses can
How much time do Americans living in cities spend commuting to work each week? The data in the file CommutingTime include this cost for 30 cities.Source: Data extracted from “The High Cost of
As player salaries have increased, the cost of attending baseball games has increased dramatically. The following histogram visualizes the total cost (in $) for two tickets, two beers, two hot dogs,
The file MobileSpeed contains the overall download and upload speeds in mbps for nine carriers in the United States.Source: Data extracted from “Best Mobile Network 2016”, bit.ly/1KGPrMm,
The file NBACost contains the total cost (in $) for four tickets purchased on the secondary market, two beers, two soft drinks, four hot dogs, and one parking space at each of the 30 National
A study of selected Kickstarter projects showed that overall a majority were successful, achieving their goal and raising, at a minimum, the targeted amounts. In an effort to identify project types
A survey of 1,520 American adults asked “Do you feel overloaded with too much information?” The results indicate that 23% of females feel information overload compared to 17% of males. The
Timetric’s 2016 survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these
How do college students spend their day? The 2016 American Time Use Survey for college students found the following results:Activity
A survey of online shoppers revealed that in 2015 they bought more of their purchases online than in stores. The data in OnlineShopping reveals how their purchases were made.a. Construct a bar chart,
The file Bulbs contains the life (in hours) of a sample of forty 6-watt light emitting diode (LED) light bulbs produced by Manufacturer A and a sample of forty 6-watt light emitting diode (LED) light
The file NBACost contains the total cost ($) for four tickets purchased on the secondary market, two beers, two soft drinks, two hot dogs, and one parking space at each of the 30 National Basketball
Data was collected on salaries of compliance specialists in corporate accounting firms. The salaries ranged from $61,000 to $261,000.a. If these salaries were grouped into six class intervals,
Planning and preparing for the unexpected, especially in response to a security incident, is one of the greatest challenges faced by information technology professionals today. An incident is
Construct an ordered array, given the following data from a sample of midterm exam scores in marketing:88 78 78 73 91 78 85
Construct an ordered array, given the following data from a sample of n = 7 midterm exam scores in accounting:68 94 63 75 71 88 64
A study of selected Kickstarter projects showed that overall a majority were successful, achieving their goal and raising, at a minimum, the targeted amounts. In an effort to identify project types
A survey of 1,520 Americans adults asked “Do you feel overloaded with too much information?” The results indicate that 23% of females feel information overload compared to 17% of males. The
Timetric’s 2016 survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these
This table represents the summer power-generating capacity by energy source in the United States as of July 2016.Energy Source
In addition to the impact of Big Data, what disruptive technology capability do executives anticipate will have the greatest impact on their firm over the next decade? A survey of 50 Fortune 1000
The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category, and company. The following table, stored in FinancialComplaints1 ,
The following table, stored in Smartphone Sales , represents the annual market share of smartphones, by type, for the years 2011, 2012, 2013, 2014, and 2015.a. What conclusions can you reach about
In the sample of 479 retirement funds (Retirement Funds), what are the attributes of the fund with the highest five-year return?
The following table indicates the percentage of residential electricity consumption in the United States, in a recent year organized by type of use.Type of Use
The financial services call center in Problem 2.20 also monitors call duration, the amount of time spent speaking to customers on the phone. The file CallDuration contains the following data for
Call centers today play an important role in managing dayto-day business communications with customers. Call centers must be monitored with a comprehensive set of metrics so that businesses can
The Consumer Financial Protection Bureau reports on consumer financial product and service complaint submissions by state, category, and company. The following table, stored in FinancialComplaints 1,
The Energy Information Administration reported the following sources of electricity in the United States in 2016:Source of Electricity
How do the average credit scores of people living in different American cities differ? The data in Credit Scores is an ordered array of the average credit scores of 2,570 American cities.a. Construct
How much time do commuters living in or near cities spend commuting to work each week? The file CommutingTime contains the average weekly commuting time in 30 U.S. cities.For the weekly commuting
An amusement park company owns three hotels on an adjoining site. A guest relations manager wants to study the time it takes for shuttle buses to travel from each of the hotels to the amusement park
The amount of monthly data usage by a sample of 10 cellphone users (in MB) was:0.4, 2.7MB, 5.6, 4.3, 11.4, 26.8, 1.6, 1,079, 8.3, 4.2Are there any potential irregularities in the data?
For a study that consists of personal interviews with participants (rather than mail or phone surveys), explain why simple random sampling might be less practical than some other sampling methods.
Visit the home page of the Statistics Portal “Statista” at statista.com. Examine one of the “Popular infographic topics” in the Infographics section on that page. What type of data source is
Transportation engineers and planners want to address the dynamic properties of travel behavior by describing in detail the driving characteristics of drivers over the course of a month. What type of
If two students score a 90 on the same examination, what arguments could be used to show that the underlying variable—test score—is continuous?
U.S. businesses are listed by size: small, medium, and large. Explain why business size is an example of an ordinal-scaled variable.

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