Questions and Answers of Basic Business Statistics

In Problem 10.39, what is your statistical decision? Population A: n = 25 s = 161.9 Population B: n2 = 25 S = 133.7
In Problems 10.38 and 10.39, what is the upper-tail critical value for F if the level of significance, a, is 0.05 and the alternative hypothesis is H1: v21 ≠ α22 Population A: n = 25 s = 161.9 =
In Problem 10.39, how many degrees of freedom are there in the numerator and denominator of the F test? Population A: n = 25 s = 161.9 = 25 S = 133.7 Population B: n2 %D
One of the most innovative advances in online fundraising during the past decade has been the rise of crowd-funding websites. While features differ from site to site, crowd-funding websites give
What social media tools do marketers commonly use? A survey by Social Media Examiner of B2B marketers (marketers that focus primarily on attracting businesses) and B2C marketers (marketers that
The Society for Human Resource Management (SHRM) collaborated with Globoforce on a series of organizational surveys with the goal of identifying challenges that HR leaders face and what strategies
Are you an impulse shopper? A survey of 500 grocery shoppers indicated that 29% of males and 40% of females make an impulse purchase every time they shop. Assume that the survey consisted of 250
How do the fares for airlines that directly compete compare? The file Airlines contains roundtrip fares for nonstop travel from Philadelphia to 10 different U.S. destinations on Southwest Airlines
Does LTE network performance vary between providers? The file LTE contains the download speed (in Mbps) on LTE connections of AT&T and Verizon providers in 31 U.S. large metro markets.Source:
An experimental design for a paired t test has 20 pairs of identical twins. How many degrees of freedom are there in this t test?
Brand valuations are critical to CEOs, financial and marketing executives, security analysts, institutional investors, and others who depend on well-researched, reliable information needed for
We Are Social and Hootsuite reported that the typical American spends 2.02 hours (121 minutes) per day accessing the Internet through a mobile device.Source: Digital in 2017 Global Overview,
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.
Accounting Today identified the top accounting firms in 10 geographic regions across the United States. All 10 regions reported growth in 2016. The Southeast and Gulf Coast regions reported growth of
Is there a difference in the satisfaction rating of traditional cellphone providers who bill for service at the end of a month often under a contract and prepaid cellphone service providers who bill
What assumptions about the two populations are necessary in Problem 10.2?
The manufacturer of Boston and Vermont asphalt shingles provides its customers with a 20-year warranty on most of its products. To determine whether a shingle will last through the warranty period,
Call centers today play an important role in managing dayto-day business communications with customers. It’s important, therefore, to monitor a comprehensive set of metrics, which can help
IAB conducted a study of 821 U.S. adults to understand the behavioral shift of consumers’ TV viewing experience. The study found that 460 of U.S. adults own streaming enabled TVs, including smart
How can a confidence interval estimate for the population mean provide conclusions for the corresponding two-tail hypothesis test for the population mean?
What is meant by a p-value?
What is meant by the power of a test?
Actuation Consulting conducted a global survey of product teams with the goal of better understanding the dynamics of product team performance and uncovering the practices that make these teams
What are companies’ biggest obstacles to attracting the best talent? Of 703 surveyed U.S. and Canadian talent acquisition professionals, 464 reported that competition for talent is the biggest
The worldwide market share for the Chrome web browser was 56.43% in a recent month.Source: Data extracted from netmarketshare.com.Suppose that you decide to select a sample of 100 students at your
According to a recent National Association of Colleges and Employers (NACE) report, 44% of college students who had unpaid internships received full-time job offers post-graduation compared to 72% of
The population mean waiting time to check out of a supermarket has been 4 minutes. Recently, in an effort to reduce the waiting time, the supermarket has experimented with a system in which infrared
A survey of nonprofit organizations showed that online fundraising has increased in the past year. Based on a random sample of 133 nonprofits, the mean one-time gift donation resulting from email
Patient waiting is a common phenomenon in the doctor’s waiting room. One acceptable standard of practice states that waiting time for patients to be seen by the first provider in hospital
CarMD reports that after two years of flat U.S. car repair costs, 2016 saw an increase. One of the most common problems that trigger the “check engine” light is the catalytic converter. Repairing
The Washington Metropolitan Area Transit Authority has set a bus fleet reliability goal of 8,000 bus miles. Bus reliability is measured specifically as the number of bus miles traveled before a
In Problem 9.44, what is your statistical decision if tSTAT = -1.15?In Problem 9.44In a one-tail hypothesis test where you reject H0 only in the lower tail, what is the critical value of the tSTAT
In a one-tail hypothesis test where you reject H0 only in the lower tail, what is the critical value of the tSTAT test statistic with 20 degrees of freedom at the 0.01 level of significance?
In Problem 9.42, what is your statistical decision if tSTAT = +2.39?In Problem 9.42In a one-tail hypothesis test where you reject H0 only in the upper tail, what is the critical value of the t-test
In a one-tail hypothesis test where you reject H0 only in the upper tail, what is the critical value of the t-test statistic with 10 degrees of freedom at the 0.01 level of significance?
In Problem 9.40, what is the statistical decision if you test the null hypothesis at the 0.01 level of significance?In Problem 9.40In a one-tail hypothesis test where you reject H0 only in the lower
In a one-tail hypothesis test where you reject H0 only in the lower tail, what is the p-value if ZSTAT = +1.38?
In Problem 9.38, what is your statistical decision if you test the null hypothesis at the 0.01 level of significance?In Problem 9.38In a one-tail hypothesis test where you reject H0 only in the lower
In a one-tail hypothesis test where you reject H0 only in the lower tail, what is the p-value if ZSTAT = -1.38?
In Problem 9.36, what is your statistical decision if you test the null hypothesis at the 0.05 level of significance?In Problem 9.36In a one-tail hypothesis test where you reject H0 only in the upper
In a one-tail hypothesis test where you reject H0 only in the upper tail, what is the p-value if ZSTAT = +2.00?
We Are Social and Hootsuite reported that the typical American spends 2.02 hours (121 minutes) per day accessing the Internet via mobile devices.In order to test the validity of this statement, you
One of the major measures of the quality of service provided by any organization is the speed with which it responds to customer complaints. A large family-held department store selling furniture and
The following data (in Drink) represent the amount of soft drink filled in a sample of 50 consecutive 2-liter bottles. The results, listed horizontally in the order of being filled, were:a. At the
A marketing researcher wants to estimate the mean amount spent per year ($) on Amazon.com by Amazon Prime member shoppers. Suppose a random sample of 100 Amazon Prime member shoppers who recently
In Problems 9.18, 9.19, and 9.20, what is your statistical decision if the alternative hypothesis, H1, is μ ≠ 50?In Problems 9.19In Problem 9.18, how many degrees of freedom does the t test
Suppose that in Problem 9.14, the standard deviation is 500 hours.a. Repeat (a) through (d) of Problem 9.14, assuming a standard deviation of 500 hours.b. Compare the results of (a) to those of
The quality-control manager at a light emitting diode (LED) factory needs to determine whether the mean life of a large shipment of LEDs is equal to 50,000 hours. The population standard deviation is
Do business seniors at your school prepare for class more than, less than, or about the same as business seniors at other schools? The National Survey of Student Engagement (NSSE) annual results,
What is the p-value if, in a two-tail hypothesis test, ZSTAT = -1.38?
In Problem 9.6, what is your statistical decision if you test the null hypothesis at the 0.10 level of significance?In Problem 9.6What is the p-value if, in a two-tail hypothesis test, ZSTAT = +2.00?
What is the p-value if, in a two-tail hypothesis test, ZSTAT = +2.00?
What is your decision in Problem 9.4 if ZSTAT = -2.61?In Problem 9.4If you use a 0.01 level of significance in a two-tail hypothesis test, what is your decision rule for rejecting H0: μ = 12.5 if
If you use a 0.01 level of significance in a two-tail hypothesis test, what is your decision rule for rejecting H0: μ = 12.5 if you use the Z test?
Referring to the results in Problem 8.66 concerning the answer time of calls, write a report that summarizes your conclusions. 16 14 16 19 6 14 15 5 16 18 17 22 6 18 10 15 12 6 19 16 16 15 13 25 9 17
Call centers today play an important role in managing day-today business communications with customers. It’s important, therefore, to monitor a comprehensive set of metrics, which can help
An information technology (IT) provider of cloud backup and restore solutions for small to midsize businesses wants to study the consequences of ransomware attacks. A random sample of 50 small to
How do smartphone owners use their smartphones when shopping in a grocery store? A sample of 731 smartphone owners in the United States revealed that 358 use their smartphone to access digital
A GlobalWebIndex study noted the percentage of Internet users that owned various devices. Suppose that a survey of 1,000 Internet users found that 840 own a PC/laptop, 910 own a smartphone, 500 own a
When should you use the t distribution to develop the confidence interval estimate for the mean?
Cybersecurity is a critical business issue that demands the attention of business and IT executives. According to a study released by PwC, 38% of surveyed business and IT executives reported phishing
In a study of 443 nonprofits nationwide, 130 indicated that the greatest diversity staffing challenge they face is retaining younger staff (those under 30).Source: Data extracted from “2016
A Federal Reserve Bank of Atlanta report looks at what strategies and measures financial institutions are pursuing to provide mobile financial services to their customers. In response to a survey
If a light bulb manufacturing company wants to estimate, with 95% confidence, the mean life of light emitting diode (LED) light bulbs to within ±400 hours and also assumes that the population
What business, economic, policy, and environmental threats to organization growth are CEOs extremely concerned about? In a survey by PricewaterhouseCoopers (PwC), 57 of 114 U.S. CEOs are extremely
A Pew Research Center survey of 4,787 adults found that 4,178 had bought something online. Of these online shoppers, 789 are weekly online shoppers.a. Construct a 95% confidence interval estimate of
In a survey of 823 human resource professionals concerning challenges they faced in the workplace, 329 said that employee retention/turnover was an important challenge and 181 said that employee
What do you value most when shopping in a retail store? According to a TimeTrade survey, 26% of consumers value personalized experience most.Source: Data extracted from “The State of Retail,
In a survey of 1,003 adults concerning complaints about restaurants, 732 complained about dirty or ill-equipped bathrooms and 381 complained about loud or distracting diners at other tables.Source:
One of the major measures of the quality of service provided by any organization is the speed with which the organization responds to customer complaints. A large family-held department store selling
Is there a difference in the yields of different types of investments? The file CDRate contains the yields for a one-year certificate of deposit (CD) and a five-year CD for 39 banks listed for West
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 FastFood contains the amount that a sample of 15 customers spent for lunch ($) at a fast-food restaurant:a. Construct a 95% confidence interval estimate for the population mean amount spent
A survey of nonprofit organizations showed that online fundraising has increased in the past year. Based on a random sample of 133 nonprofits, the mean one-time gift donation resulting from email
A marketing researcher wants to estimate the mean amount spent ($) on Amazon.com by Amazon Prime member shoppers. Suppose a random sample of 100 Amazon Prime member shoppers who recently made a
The operations manager at a light emitting diode (LED) light bulb factory needs to estimate the mean life of a large shipment of LEDs. The manufacturer’s specifications are that the standard
Is it true in Example 8.1 on page 280 that you do not know for sure whether the population mean is between 366.33 and 372.21 grams? Explain.
The number of cars waiting in line at a car wash is distributed as follows:Number of Cars
The table of random numbers is an example of a uniform distribution because each digit is equally likely to occur. Starting in the row corresponding to the day of the month in which you were born,
The article mentioned in Problem 7.30 reported that the stock market in Germany had a mean return of 6.9% in 2016. Assume that the returns for stocks on the German stock market were distributed
The stock market in Canada reported strong returns in 2016. The population of stocks earned a mean return of 17.5% in 2016.Source: Data extracted from The Wall Street Journal, December 31,
Under what circumstances does the sampling distribution of the proportion approximately follow the normal distribution?
What is the difference between a population distribution and a sampling distribution?
Why is the sample mean an unbiased estimator of the population mean?
An IAB study on the state of original digital video showed that original data video is becoming increasingly popular. Original digital video is defined as professionally produced video only for
The topic of global warming increasingly appears in the news. It has the potential to impact companies’ operations through changes in governmental regulations, new reporting requirements, necessary
According to the MSCI 2016 Survey of Women on Boards, women hold 20% of director seats on U.S. corporate boards. This study also reports that 34% of U.S. companies have three or more female board
The goal of corporate sustainability is to manage the environmental, economic, and social effects of a corporation’s operations so it is profitable over the long-term while acting in a responsible
What do millennials around the world want in a job? A Deloitte survey of millennials on work-life challenges found that millennials are looking for stability in an uncertain world, with 65% of
According to a report by App Annie, a business intelligence company that produces tools and reports for the apps and digital goods industry, smartphone owners are using an average of 30 apps per
The U.S. Census Bureau announced that the median sales price of new houses sold in 2016 was $316,500, and the mean sales price was $370,800Source: www.census.gov/newhomesales, April 1, 2017.Assume
The weight of an energy bar is approximately normally distributed with a mean of 42.05 grams with a standard deviation of 0.025 gram.a. What is the probability that an individual energy bar contains
The amount of water in a two-liter bottle is approximately normally distributed with a mean of 2.05 liters with a standard deviation of 0.025 liter.a. What is the probability that an individual
According to the same Glassdoor source mentioned in Problem 6.40, the mean monthly pay for interns at Facebook is $6,589. Suppose that the intern monthly pay is normally distributed, with a standard
Interns report that when deciding on where to work, career growth, salary and compensation, location and commute, and company culture and values are important factors to them. According to reports by
How can you use the normal probability plot to evaluate whether a set of data is normally distributed?
How do you find the area between two values under the normal curve?
How long does it take to download a two-hour HD movie from the iTunes store? According to Apple’s technical support site, support.apple.com/en-us/HT201587, downloading such a movie using a 15
The file CD Rate contains the yields for a one-year certificate of deposit (CD) and a five-year CD for 39 banks listed for West Palm Beach, Florida on January 9, 2017.Source: Data extracted from

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