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mathematics
basic business statistics
Basic Business Statistics Concepts And Applications 14th Edition Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan - Solutions
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 of the world’s economies:a. Compute the mean and median.b. Compute the variance, standard
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. These ads vary in length with most lasting 30 seconds or 60 seconds. The file SuperBowlAdScore
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 Today, December 16, 2016, p. 4B.a. Compute the mean, median, and mode.b. Compute the variance,
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 median.b. Compute the variance, standard deviation, range, and coefficientof variation.c. Are the data
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 mean sales price.c. Discuss the shape of the distribution of the price of new houses.
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 print reader and the digital reader.Audience
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 shingles are what the company expects. Be sure to incorporate tables and charts into the report.
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 call-to-action button for a web page. Every visitor to the web page was randomly shown either the original
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 expressed in units per U.S. dollar.a. Construct time-series plots for the yearly closing values of
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 bottle number (going consecutively from 1 to 50) on the X axis.b. What pattern, if any, is present in
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 extracted from “U.S. Natural Gas Prices,” bit.ly/2oZIQ5Z, accessed March 19, 2017.For the commercial
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 U.S. $0.75 as of December 2016) per night paid by Canadian travelers.Source: Data extracted from
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 amount of raw materials being used and is therefore very important to the company from a cost
The file CEO2016 includes the total compensation (in $millions) for CEOs of 200 S&P 500 companies and the one-year total shareholder return in 2016.Source: Data extracted from bit.ly/1QqpEUZ.For total compensation:a. Construct a frequency distribution and a percentage distribution.b. Construct
The file CDRate contains the yields for one-year certificates of deposit (CDs) and for five-year CDs for 39 banks in the United States, as of January 9, 2017.Source: Data extracted and compiled from www.bankrate.com, January 9, 2017.a. Construct a stem-and-leaf display for one-year CDs and fiveyear
The file CigaretteTax contains the state cigarette tax ($) 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 conclusions can you reach about the differences in the state cigarette tax among the states?
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 the quality of services provided by airlines. The report includes a summary of consumer complaints by
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 and how they would describe their organization’s commitment to content marketing. Tables in this
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, a doughnut chart, and a Pareto chart for the number of movies, gross (in $millions), and number of
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 from “U.S. Natural Gas Prices,” bit.ly/2oZIQ5Z, March 19, 2017.a. Construct a sparkline of the
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 extracted from bit.ly/2eEcIBR, March 19, 2017.a. Construct sparklines of new home sales prices by
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 1YrReturn by Market Cap.c. How does the patterns to the points of each market cap category change
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. Rescale the Assets axis, if necessary, to see more detail.c. How do the patterns that you can observe in
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 types of funds based on market cap categories, risk levels, and star ratings?c. Which do you think
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 kickoff and the final whistle and the total elapsed run time (in minutes) of the commercials for
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, is present in the data? Year Attendance Year Attendance 2001 1.44 2009 1.41 2002 1.58 2010 1.34 2011
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 January 2000 through December 2016.Source: Data extracted from bit.ly/2eEcIBR, accessed March 19,
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 higher overall upload speed?b. Construct a scatter plot with download speed on the X axis and upload
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 worldwide gross (in $millions) of the eight Harry Potter movies:a. Construct a scatter plot with
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? Explain. Year: 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Sales: 13.0 17.0 190 20.0 20.5 20.5
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 bulbs produced by Manufacturer B.Use the following class interval widths for each
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 for time, in seconds, spent by agents talking to 50 customers.a. Construct a percentage histogram
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 better understand the overall performance of those centers. One key metric for measuring overall call
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 Congestion,” NYC Economic Brief, March 2015, p. 3.For the time Americans living in cities spend
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, and parking for one vehicle at each of the 30 Major League Baseball parks during the 2016 season
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, accessed November 10, 2016.a. Construct an ordered array.b. Construct a stem-and-leaf display.c. Does the
The file NBACost contains the total cost (in $) for four tickets purchased on the secondary market, two beers, two soft drinks, four hot dogs, and one parking space at each of the 30 National Basketball Association arenas during a recent season.Source: Data extracted from
A study of selected Kickstarter projects showed that overall a majority were successful, achieving their goal and raising, at a minimum, the targeted amounts. In an effort to identify project types that influence success, selected projects were subdivided into project categories (Film & Video,
Timetric’s 2016 survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these professionals expected to be most used by the insurance industry in the coming year.Technology
How do college students spend their day? The 2016 American Time Use Survey for college students found the following results:Activity
A survey of online shoppers revealed that in 2015 they bought more of their purchases online than in stores. The data in OnlineShopping reveals how their purchases were made.a. Construct a bar chart, a pie or doughnut chart, and a Pareto chart.b. Which graphical method do you think is best for
The file Bulbs contains the life (in hours) of a sample of forty 6-watt light emitting diode (LED) light bulbs produced by Manufacturer A and a sample of forty 6-watt light emitting diode (LED) light bulbs produced by Manufacturer B.a. Construct a frequency distribution and a percentage
The file NBACost contains the total cost ($) 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 Association arenas during a recent season. These costs were:a. Organize these costs as an ordered
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, indicate the class boundaries.b. What class interval width did you choose?c. What are the six class
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 described as any violation of policy, law, or unacceptable act that involves information assets. Incident
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 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 results are:a. Construct contingency tables based on total percentages, row percentages, and column
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 professionals expected to be most used by the insurance industry in the coming year. Those responses
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 executives revealed the following:Disruptive Capability
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 , represents complaints received from Louisiana consumers by complaint category for 2016.Category
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 the market for smartphones in 2011, 2012, 2013, 2014, and 2015.b. What differences are there in the
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 time, in seconds, spent by agents talking to 50 customers:a. Construct a frequency distribution and a
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 better understand the overall performance of those centers. One key metric for measuring overall call
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, represents complaints received from Louisiana consumers by complaint category for 2016.Category
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 a frequency distribution and a percentage distribution.b. Construct a cumulative percentage
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 time data,a. Construct a frequency distribution and a percentage distribution.b. Construct a cumulative
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 entrance. Data were collected on a particular day that recorded the travel times in minutes.a.
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 the information presented here based on?
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 data collection source do you think the transportation engineers and planners should use?
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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