Questions and Answers of Business Statistics Contemporary

1. Suppose you have been asked to write a report for Southwest Airlines discussing and displaying their share of the U.S. airline market. In your research, you are able to obtain from the Bureau of
1. 3M has developed a composite measure, a 3M™ Value Index Score, which provides a standard metric to assess accountable value in health care. This index score is a composite measure based on six
Make a list of 20 people you know. Include men and women, various ages, various educational levels, and so on. Number the list and then use the random number list in Table 7.1 to select six people
Use the random numbers in Table A.1 of Appendix A to select 10 of the companies from the 30 companies listed in Table 7.2. Compare the types of companies in your sample with the types in the
Use Table A.1 to select 20 three-digit random numbers. Did any of the numbers occur more than once? How is it possible for a number to occur more than once? Make a stem-and-leaf plot of the numbers
Use a Kruskal-Wallis test to determine whether there is a significant difference between the four levels of Value of Industry Shipments on Number of Employees for the Manufacture database. Discuss
Use the following decision table to complete parts (a) through (c).a. Draw a decision tree to represent this decision table.b. Compute the expected monetary values for each decision and label the
Compute a Spearman’s rank correlation between New Capital Expenditures and End-of-Year Inventories in the Manufacture database. Is the amount spent annually on New Capital Expenditures related to
Using the Manufacturing database as a sample, construct a 95% confidence interval for the population mean number of production workers. What is the point estimate? How much is the error of the
Using the International Stock Market database, develop a multiple regression model to predict the Nikkei by the DJIA, the Nasdaq, the S&P 500, the Hang Seng, the FTSE 100, and the IPC. Discuss
Develop a multiple regression model to predict Annual Food Spending by Annual Household Income and Non-Mortgage Household Debt using the Consumer Food database. How strong is the model? Which of the
Use the Manufacturing database to develop a multiple regression model to predict Cost of Materials by Number of Employees, New Capital Expenditures, Value Added by Manufacture, Value of Industry
Construct a correlation matrix for the Hospital database variables. Are some of the variables highly correlated? Which ones and why? Perform a stepwise multiple regression analysis to predict
Develop a regression model using the Financial database. Use Total Revenues, Total Assets, Return on Equity, Earnings per Share, Average Yield, and Dividends per Share to predict the average P/E
Using the International Stock Market database, conduct a stepwise multiple regression procedure to predict the DJIA by the Nasdaq, the S&P 500, the Nikkei, the Hang Seng, the FTSE 100, and the
A dairy company in the Manufacturing database tests its quart milk container fills for volume in four-container samples. Shown here are the results of 10 such samples and the volume measurements in
A carpet and rug manufacturer in the manufacturing database is faced with the decision of making expenditures in the form of machinery in anticipation of strong growth or not making the expenditures
Suppose you are the CEO of a hospital in the hospital database. You are considering expansion of the physical facility. What are some decision alternatives to consider? What are some states of nature
Suppose you are the CEO of a company such as Procter & Gamble in the financial database. What are some decisions that you might make in which you would consider decision alternatives? Name three
The Zumper National Rent Report lists the average monthly apartment rent in various locations in the United States. According to their report, the average cost of renting a one-bedroom apartment in
Using the international unemployment database, construct a stem-and-leaf plot for Italy. What does the plot show about unemployment for Italy over the past 40 years? What does the plot fail to show?
Develop a regression model using the Financial database. Use Total Revenues, Total Assets, Return on Equity, Earnings Per Share, Average Yield, and Dividends Per Share to predict the average P/E
Use the Manufacturing database to develop a multiple regression model to predict Cost of Materials by Number of Employees, New Capital Expenditures, Value Added by Manufacture, and End-of-Year
Construct a correlation matrix for the six U.S. and international stock indicators. Describe what you find. That is, what indicators seem to be most strongly related to other indicators? Now focus on
Analyze all the variables except Type in the Financial database by using a correlation matrix. The seven variables in this database are capable of producing 21 pairs of correlations. Which are most
Using the Hospital database, develop a regression model to predict the number of Personnel by the number of Births. Now develop a regression model to predict number of Personnel by number of Beds.
Develop a regression model from the Consumer Food database to predict Annual Food Spending by Annual Household Income. Discuss the model and its strength on the basis of statistics presented in this
Discuss the following Minitab output. Analysis of Variance Adj ss Adj MS F-Value P-Value Source DF 138.0 Factor 3 46.0 3.51 0.034 Error 20 262.2 13.1 Total 400.3 23 Means Factor Mean StDev 95% CI
The Consumer Food database contains data on Annual Food Spending, Annual Household Income, and Non-Mortgage Household Debt broken down by Region and Location. Using Region as an independent variable
The hospital database contains data on hospitals from seven different geographic regions. Let this variable be the independent variable. Determine whether there is a significant difference in
In the Manufacturing database, the Value of Industrial Shipments has been recoded into four classifications (1–4) according to magnitude of value. Let this value be the independent variable with
Do various financial indicators differ significantly according to type of company? Use a one-way ANOVA and the financial database to answer this question. Let Type of Company be the independent
Using the frequency feature of the computer software, determine the sample proportion of the Hospital database under the variable “service” that are “general medical” (category 1). From this
The Financial database contains financial data on 100 companies. Use this database as a sample and estimate the earnings per share for all corporations from these data. Select several levels of
Using the Hospital database, construct a 90% confidence interval to estimate the average census for hospitals. Change the level of confidence to 99%. What happened to the interval? Did the point
Use the Hospital database and determine the proportion of hospitals that are under the control of nongovernment not-for-profit organizations (category 2). Assume that this proportion represents the
Let the Manufacturing database be the frame for a population of manufacturers to be studied. This database has 140 different SIC codes. Explain how you would take a systematic sample of size 10 from
According to the International Data Corporation, HP is the leading company in the United States in PC sales with about 26% of the market share. Suppose a business researcher randomly selects 130
From the Hospital database, it can be determined that some hospitals admit around 50 patients per day. Suppose we select a hospital that admits 50 patients per day. Assuming that admittance only
Select the Agribusiness time-series database. Create a histogram graph for onions and for broccoli. Each of these variables is approximately normally distributed. Compute the mean and the standard
The Consumer Food database contains a variable, Annual Food Spending, which represents the amount spent per household on food for a year. Calculate the mean and standard deviation for this variable
Use the Hospital database. What is the breakdown between hospitals that are general medical hospitals and those that are psychiatric hospitals in this database of 200 hospitals? In Service, 1 =
1. Whole Foods Market has shown steady growth at a time when traditional supermarkets have been flat. This could be attributed to a growing awareness of and demand for more natural foods. According
Use the Consumer Food database. What proportion of the database households are in the Metro area? Use this as the value of p in a binomial distribution. If you were to randomly select 12 of these
International Housewares Association (IHA) reported that 73% of all U.S. households have ceiling fans. In addition, 77% of all U.S. households have an outdoor grill. Suppose 60% of all U.S.
According to Nielsen Media Research, approximately 86% of all U.S. households have High-definition television (HDTV). In addition, 49% of all U.S. households own Digital Video Recorders (DVR).
Use the Hospital database. Construct a cross-tabulation table for region and for type of control. You should have a 7 × 4 table. Using this table, answer the following questions. (Refer to Chapter 1
Using the Hospital database, construct a box-and-whisker plot for births. Thinking about hospitals and birthing facilities, comment on why the box-and-whisker plot looks like it does.
Using the Financial database, study earnings per share for Type 2 and Type 7 companies (chemical and petrochemical) using statistics. Compute a coefficient of variation for both Type 2 and Type 7.
a. Using measures of central tendency including the mean, median, and mode, describe annual food spending and annual household income for the 200 households in the Consumer Food database. Compare the
1. In several countries of Africa, a common size for a Coke can is 340 milliliters (mL). Because of the variability of bottling machinery, it is likely that every 340-mL bottle of Coca-Cola does not
What are the mean and the median amounts of new capital expenditures for industries in the Manufacturing database? Comparing the mean and the median for these data, what do these statistics tell you
According to Bureau of Transportation statistics, the largest five U.S. airlines in scheduled system-wide (domestic and international) enplanements in 2013 (passenger numbers in millions) were: Delta
Study the Minitab-produced dot plot of the number of farms per state in the United States shown below. Comment on any observations that you make from the graph. What does this graph tell you about
Construct an ogive for the variable Type in the financial database. The 100 companies in this database are each categorized into one of seven types of companies. These types are listed at the end of
Using the Consumer Food database, construct a histogram for the variable Annual Food Spending. How is the histogram shaped? Is it high in the middle or high near one or both ends of the data? Is it
Using the manufacturer database, construct a frequency distribution for the variable Number of Production Workers. What does the frequency distribution reveal about the number of production workers?
In the Manufacturing database, what is the probability that a randomly selected SIC Code industry is in industry group 13? What is the probability that a randomly selected SIC Code industry has a