Questions and Answers of Business Statistics

Q: Consider the following terms in a linear regression model: slope, correlation coefficient, residual. Match each term to the appropriate description.
Q: Answer true or false. The margin of error when using x̅ as a point estmate for μ is x̅ - μ
Q: Answer true or false, A point estimate for the mean weight (lb) of shipping packages is all nimbers zero or larger.
Q: Answer true or false. A c% confidence interval means that c% of sample data will always lie inside the interval.
Q: Match each of the following tests to the appropriate description: test of independence; test of homogeneity; test of goodness of fit.(i) Test to
Q: What is the symbol used for the slope of the population least-squares line?
Q: For a chi-square probability distribution, determine whether each of the following is true or false.(i) The distribution is symmetric.(ii) The shape
Q: Suppose you are a hospital manager and have been told that there is no need to worry that respirator monitoring equipment might fail because the
Q: Consider the graph of a normal probability distribution of x values with mean μ and standard deviation σ. Answer each of the following statements
Q: Under what conditions is it appropriate to use a normal distirbution to approximate the p̂ distribution?
Q: Answer the following statements regarding the term sampling distribution as true or false.(i) A sampling distribution is the set of all random
Q: Create a clustered column chart that shows the number of employees hired each year. Make sure the chart has a title. In what year were the most
Q: After opening Power BI, open each of the three files. Change the names of the tables to the following: Race Codes, Job Codes, and Master Employee
Q: Referring to Exercise 18-23, create a stacked column chart that illustrates how many employees of each gender (male and female) were hired in each
Q: Referring to Exercise 18-25, create the same table but only for employees who are no longer working for the company. Discuss.Data from exercise
Q: In a journal related to your major, locate an article in which a hypothesis about one or two population variances is tested. Discuss why population
Q: In journals related to your major, locate two articles in which tests of three or more population means were important. Discuss the issue being
Q: Locate a journal article that uses either contingency analysis or a goodness-of-fit test. Discuss the article, paying particular attention to the
Q: Find a marketing research book (or borrow one from a friend). Does it discuss either of the tests considered in this chapter? If yes, outline the
Q: The following table shows the breakdown of gasoline prices in terms of its components.Component
Q: Tesla is one of the most popular manufacturers of electric cars in the world. The following table lists the company’s quarterly profits and losses
Q: The following table shows the number of wins for baseball teams in the National League Central Division for the 2016 and 2017 seasons:Construct a
Q: The NHTSA regularly collects information about customer complaints about cars. The following table lists complaints by type and frequency for the
Q: The following table lists usage share of mobile browsers for January 2018.Browser
Q: The Fan Cost Index measures the average cost for a typical family to attend a Major League Baseball game. The index comprises the prices of two adult
Q: The following table lists the average annual unemployment rate for the state of Arizona from 2006 until 2016 (use formula to solve
Q: The world oil price is really important for the U.S. economy. However, the world oil price is changing frequently by large amounts. The Excel file
Q: The following table shows the number of wins per season for the New England Patriots and Detroit Lions NFL teams from 2008 through 2017. This data
Q: The following table lists the 20 largest companies in the world in 2017 ranked by their market capitalizations (in billions of dollars). A
Q: The following table shows the frequency distribution for the golf scores recorded during the 2017 Masters tournament:Score
Q: What is the probability of randomly selecting a diamond from a standard 52-card deck?
Q: A recent survey of Snapchat user statistics had four categories (reasons) for the using Snapchat: Creativity, Keeping in Touch, Easier than Texting,
Q: A recent survey found that 75% of households had Internet access and 80% of households had cable television. Also, it was reported that 70% of the
Q: At a local restaurant, 22% of the customers order takeout. If 8% of the customers order takeout and choose a hamburger, determine the probability
Q: Thirty-five percent of customers who purchased products from an e-commerce site had orders exceeding $100. If 20% of the customers have orders
Q: In 2018, 43% of taxpayers who filed their tax return electronically self-prepared their taxes. If the IRS randomly selected three tax returns
Q: I would like to customize a desktop computer online. I have to choose among the following categories:• Processor (five choices)• Hard drive (four
Q: An executive needs to select 4 stores from a total of 10 to participate in a customer service program. Determine the number of possible groups of
Q: What is the probability of randomly selecting a heart from a standard 52-card deck?
Q: According to Stat-counter in January 2018, 52% of all Web traffic came from mobile phones. If five people are randomly chosen, what is the
Q: I would like to order a car from the factory and I have to choose among the following categories:• Exterior color (four choices)• Interior color
Q: What is the probability of winning a 5/30 lottery game where 5 numbers are picked from a range of 30?
Q: How many ways can 10 new movies be ranked first, second, and third by a movie critic?
Q: A director for a play has to choose an actor to play a lead male role and an actress to play a lead female role. The director has to choose from
Q: If a salesperson is responsible for eight stores in her territory, determine how many different ways she can schedule a visit with five of them today.
Q: Consider a Poisson probability distribution with λ = 8.5. Determine the mean and standard deviation of this distribution.
Q: A second report by the National Center for Productivity analyzed the relationship between productivity and wages. They used the graph from Exercise
Q: A bootstrap test of the hypothesis in Exercise 56 produced the following distribution (shifted to center the histogram at the hypothesized mean of
Q: Pew Research published a study on Americans’ satisfaction with their current job (www .pewsocialtrends.org/2016/10/06/3-how-americans-viewtheir-
Q: It has been three years since Mohammed Al-Tamimi opened his computer repair business, Mo’s Mending Station. Unlike the well-known Nerd Squad of the
Q: It has been three years since Mohammed Al-Tamimi opened his computer repair business, Mo’s Mending Station. Unlike the well-known Nerd Squad of the
Q: Think of a question that you’d like to know the answer to that might be answered with a survey. What are the questions? Identify the variables and
Q: Look in the latest edition of your local newspaper and find examples of each level of measurement. Write a brief memo summarizing your findings.
Q: Consider again the post-1960 trend in U.S. GDP we examined in Exercise 57. Here are a regression and residual plot when we use the square root of GDP
Q: An experiment on laboratory rats finds that rats that are randomly assigned to higher levels of noise take longer to finish a maze than those that
Q: An observational study finds that the average number of years that people stay married differs by educational level with a P-value 60.0001. The
Q: Your manager asked you to fit many models to predict which customers will buy this holiday season. The firm is going to pick only one. What criteria
Q: Your manager wants to just find and use “the best” model, but you have found that a combined model (boosting) is better. Explain why boosting
Q: What are the pros and cons of combining multiple models to produce a prediction? Should we always combine models?
Q: Your manager wants to use the total accurate classification rate (percent of all cases properly classified) as the metric to evaluate the
Q: Is any one portion of the CRISP-DM more important than the others? Why?
Q: Your manager has read a couple of articles about data mining and artificial intelligence. He wants to use data mining to find the best customers.
Q: Your manager learned all about databases, and frequently makes queries such as: “What fraction of our customers who bought a product in the last
Q: Your manager is confused by Big Data. Explain what makes “big data”different than “data.”
Q: Heart disease is the leading cause of death for both men and women. According to the Centers for Disease Control and Prevention, as of 2013, about
Q: Tiffany was founded in 1837, when Charles Lewis Tiffany opened his first store in downtown Manhattan. Tiffany retails and distributes a selection of
Q: In 2016, 13.27 million people attended a Broadway show, paying an average of more than $100 per ticket. We?d like to understand this $1.4 billion
Q: The scatterplot shows the gross domestic product (GDP) of the United States in trillions of (2010) dollars plotted against years since 1960. (Data in
Q: Renewable sources of energy are of growing importance in the economy. The Energy Information Administration reports the amount of renewable energy
Q: The gross domestic product (GDP) per capita is a widely used measure of a country’s (or state’s) economy. It is defined as the total market value
Q: Here is a scatterplot showing the regression line, 95% confidence intervals, and 95% prediction intervals, using 2015 and 2016 male unemployment data
Q: The Worldwide Cost of Living Survey published by Numbeo.com provides an index that expresses the cost of living in other cities as a percentage of
Q: There are 168 hours in a week. If you spend all of it sleeping and having fun, you will earn very little money. On the other hand, if you spend much
Q: In 2014, cnet.com listed the battery life (in hours) and maximum luminous intensity (i.e., screen brightness, in cd>m2) for a sample of tablet
Q: Using unemployment data provided by the World Bank, investigate the association between the male unemployment rate in 2014 and 2017.a) Find a
Q: Every spring, Nenana, Alaska, hosts a contest in which participants try to guess the exact minute that a wooden tripod placed on the frozen Tanana
Q: The product manager at a subsidiary of Kraft Foods, Inc., is interested in learning how sensitive sales are to changes in the unit price of a frozen
Q: The U.S. Bureau of Economic Analysis provides information on the Gross Domestic Product Per Capita (GDP PC) in the United States by state
Q: Every year, Fortune magazine lists the 100 best companies to work for, based on criteria such as pay, benefits, days off, and diversity. In 2018, the
Q: A similar Pew poll in 2016 asked people how often they used the Internet. (Data in Income and internet) a) Under the usual null hypothesis, what
Q: In 2010, the U.S. Congress passed the historic health care reform bill that will provide some type of coverage for the millions of Americans without
Q: American League baseball teams play their games with the designated hitter rule, meaning that pitchers do not bat. The league believes that replacing
Q: Most car engines need at least 87 octane to avoid “knocking” or “pinging,” terms used to describe the preignition that can happen when a
Q: Using the Paralyzed Veterans dataset, construct a 95% confidence interval for the mean age of a potential donor to the Paralyzed Veterans. Test the
Q: Exercise 55 Here are the data from the researcher studying the reaction times of rats. He has a requirement that the maze take about a minute to
Q: According to www.marketingcharts.com/, the average 18–24-year old has 649 Facebook friends. The student who collected the survey data in Student
Q: Here are the data from the researcher studying the reaction times of rats. He has a requirement that the maze take about a minute to complete on
Q: Instead of advertising the percentage of customers who improve by at least 10 points, a manager suggests testing whether the mean score improves at
Q: A test preparation company claims that more than 50% of the students who take their GRE prep course improve their scores by at least 10 points.a) Is
Q: How far do professional golfers drive a ball? (For non-golfers, the drive is the shot hit from a tee at the start of a hole and is typically the
Q: A business statistics class conducted a student survey in which 299 students were randomly selected and asked a variety of questions. One of the
Q: The Framingham Heart Study recorded the cholesterol levels of more than 1400 participants in Framingham, MA (Data in Framingham). To find a bootstrap
Q: In 2011, when the Gallup organization polled investors, 34% rated gold the best long-term investment. But in April of 2017 Gallup surveyed a random
Q: Giant food stores serves two customer segments: ?Budget Shoppers? and ?Foodies.? Giant sends 1000 of each type of customer one of two circulars: Deep
Q: Verizon Wireless wants to test new package deals. They are considering offering three levels of data per month (5 Gb, 10 Gb, Unlimited) and two
Q: Kraft foods wants to see whether a coupon will affect sales for macaroni and cheese. Kraft picks a single grocery store in Philadelphia in which to
Q: A small maker of video games designs a pricing experiment. They know that some teens self-identify as ?gamers,? while others do not. They market a
Q: Exercise 28 A supermarket wants to see the effects of coupons on spending. They believe that male and female heads of households will respond
Q: A supermarket wants to see the effects of coupons on spending. They believe that male and female heads of households will respond differently to the
Q: GfK Roper Consulting conducts market research for multinational companies who want to understand attitudes in different countries so they can market

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