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business statistics

Questions and Answers of Business Statistics

A sales manager for a major pharmaceutical company analyzes last year’s sales data for 96 sales representatives, grouping them by region (1 = East Coast U.S.; 2 = Midwest U.S.; 3 = West U.S.; 4 =
Mining companies purchase large and specialized equipment. The company specifies the features required for the product in a request for quotations (RFQ) and suppliers submit bids. Because of the
When a volcano erupts, it sends ash into the upper atmosphere, partially blocking out the sun, and thus reducing the amount of electric power generated by solar panels. During the 35- year period
The elevator market is dominated by four suppliers: Otis of the United States, Kone of Finland, Thyssen-Krupp of Germany, and Schindler of Switzerland. Elevators are installed in buildings of a range
North Korea conducted nuclear tests in 2009 and 2013, and South Korea’s defence ministry estimated their power at between 2 and 6 kilotonnes of TNT in 2009 and between 6 and 7 kilotonnes of TNT in
Canada extracts water from the Niagara River upstream of Niagara Falls and uses it to generate hydroelectric power at two generating stations downstream. Until 2013, water was taken to the generating
A survey of another area of Baffin Bay indicates that drilling will be successful with a probability of 0.4. Drilling a single well costs $0.65 billion and brings in a revenue of $2.2 billion. If the
Baffin Bay, located between Canada and Greenland, is being explored for oil and natural gas. First an energy company conducts a geological survey, and if the data look promising it starts drilling. A
Since 1961, NRCan researchers have been visiting the Devon Island icecap in Nunavut to monitor the effects of global warming. They’ve found that the thickness of the ice has decreased by about five
During the entire history of Canada, 0.74% of the 4201 federal Members of Parliament have been Aboriginals. In 2014, 7 out of the 308 federal Members of Parliament were Aboriginal. Using the methods
Aboriginals make up 3.9% of the Canadian population, and in 2014, 7 out of the 308 federal Members of Parliament were Aboriginal. Using the methods given in this chapter, compare these pieces of
In July, on average, Ottawa has 4.2 thunderstorms. What is the probability that next Julya) Ottawa will have six thunderstorms?b) Ottawa will have fewer than four thunderstorms?c) State your
Bombardier designs and manufactures trains and planes and relies on large deals from its customers for these high-cost products. This series of large contracts makes for a very variable revenue
During May, young moose, unfamiliar with roads and traffic, are wandering around at night in Newfoundland, causing risk of road accidents. Suppose that in 2016 the average number of road accidents
The website manager in Exercise 82 wants to model the time between purchases. Recall that the mean number of purchases in the evening is three per minute.a) What model would you use to model the time
Statistics Canada provides data on the number of reportable transport accidents involving dangerous goods. In a recent year the average rate of occurrence of such accidents was 8.15 per week.a) What
Statistics Canada provides data on the number of cases in adult criminal court by type of crime. In a recent year the average number of homicide cases was 6.83 per month.a) What probability
For mutual funds with Normally distributed returns with a mean of 6.2% and a standard deviation of 1.8%, what are the cutoff values for thea) Highest 10% of these funds?b) Lowest 20%?c) Middle
The bloodmobile in Exercise 64 received 300 donations in one day.a) Assuming that the frequency of AB blood is 4%, determine the mean and standard deviation of the number of donors who are AB.b)
Suppose Serena continues to make 67% of her first serves, as in Exercise 61, and serves 80 times in a match.a) What are the mean and standard deviation of the number of good first serves expected?b)
Only 4% of people have Type AB blood. A bloodmobile has 12 vials of blood on a rack. If the distribution of blood types at this location is consistent with the general population, what’s the
Based on the 74% national retention rate described in Exercise 25, does a college where 522 of the 603 freshman returned the next year as sophomores have a right to brag that it has an unusually high
Best known for its testing program, ACT Inc. also compiles data on a variety of issues in education. In 2004 the company reported that the national college freshman-to-sophomore retention rate held
When it sends out its fundraising letter, a philanthropic organization typically gets a return from about 5% of the people on its mailing list. To see what the response rate might be for future
A tourist agency wants to know what proportion of visitors to the Eiffel Tower are from Asia. To find out, the agency surveys 100 people in the line to purchase tickets to the top of the tower one
The proportion of adult women in Canada is approximately 51%. A marketing survey telephones 400 people at random.a) What proportion of women in the sample of 400 would you expect to see?b) How many
The CAPE10 index is based on the price/earnings (P/E) ratios of stocks. We can examine the P/E ratios without applying the smoothing techniques used to find the CAPE10. The file CAPE10 holds the
Serena Williams made a successful first serve 67% of the time in a Wimbledon finals match against her sister, Venus. If she continues to serve at the same rate the next time they play and serves six
Cellophane that’s going to be formed into bags for items such as dried beans or bird seed is passed over a light sensor to test if the alignment is correct before it passes through the heating
University students are a major target for advertisements for credit cards. At a university, 65% of students surveyed said they had opened a new credit card account within the past year. If that
Researchers testing a new medication find that 7% of users have side effects. To how many patients would a doctor expect to prescribe the medication before finding the first one who has side effects?
A real estate broker purchased three two-bedroom houses in a depressed market for a combined cost of $71,000. He expects the cleaning and repair costs on each house to average $3700, with a standard
An insurance company estimates that it should make an annual profit of $150 on each homeowner’s policy written, with a standard deviation of $6000.a) Why is the standard deviation so large?b) If
A small engine shop receives an average of 1.7 repair calls per hour, with a standard deviation of 0.6. What is the mean and standard deviation of the number of calls it receives for an eight-hour
The computer help desk is staffed by students during the 7 p.m. to 11 p.m. shift. Let Y denote the random variable that represents the number of students seeking help during the 15-minute time slot
Through the career services office, you have arranged preliminary interviews at four companies for summer jobs. Each company will either ask you to come to its site for a follow-up interview or not.
You’ve just launched the website for your company that sells nutritional products online. Suppose X = the number of different pages that a customer hits during a visit to the website.a) Assuming
A warehouse is lit by 1000 f luorescent tubes, each of which fails, on average, after 4250 hours of operation. It’s costly to send a technician to replace an individual tube when it fails, so the
A manufacturer of a robot used on production lines for car manufacturing tests the accuracy of the robot operation and finds that, on average, the accuracy becomes unacceptable after 5850 hours of
Speeds of cars were measured as they passed one point on a road to study whether traffic speed controls were needed. Here’s a histogram and normal probability plot of the measured speeds. Is a
After examining a child at his two-year checkup, the boy’s pediatrician said that the z-score for his height relative to Canadian two-year-olds is -1.88. Write a sentence to explain to the parents
Your company’s Human Resources department administers a test of “executive aptitude.” It reports test grades as z-scores, and you got a score of 2.20. What does this mean?
Is a continuous Uniform distribution appropriate for the following situations? If so, state which variable is uniformly distributed.a) Subway trains depart every five minutes. You have just arrived
Is a continuous Uniform distribution appropriate for the following situations? If so, state which variable is uniformly distributed.a) A manufacturer of cells for solar modules ordered some
The 2000 Census showed that 26% of all firms in the United States are owned by women. You’re phoning local businesses, assuming that the national percentage is true in your area. You wonder how
As in Exercise 15, you’re phoning local businesses. You call three firms. What is the probability that all three are owned by women?In Exercise 15The 2000 Census showed that 26% of all firms in the
At many airports, travellers entering a country are sent randomly to one of several stations where passports and visas are checked. If each of the six stations is equally likely, can the
Canada’s annual exports to India are $2.8 billion on average with a standard deviation of $0.35 billion. Canada’s annual imports from India are $3.1 billion on average with a standard deviation
Find the standard deviation of the day trader’s option value in Exercise 4.In Exercise 4A day trader buys an option on a stock that will return $100 profit if the stock goes up today and lose $400
Find the standard deviation of the book purchases in Exercise 3. In Exercise 3Suppose that the probabilities of a customer purchasing zero, one, or two books at a bookstore are 0.2, 0.4, and
Suppose that the probabilities of a customer purchasing zero, one, or two books at a bookstore are 0.2, 0.4, and 0.4, respectively. What is the expected number of books a customer will purchase?
The database also, of course, includes each employee’s compensation.a) Is this variable discrete or continuous?b) What are the possible values it can take on?
A company’s employee database includes data on whether the employee has a dependent child in his or her health insurance.a) Is this variable discrete or continuous?b) What are the possible values
Last year, Maria sold a photo of a Canada goose to a nature magazine for $7,500, and she is keen to get some good shots again this year. She booked a spot in a hide at the edge of a lake in
When solar panels rated at 250 watts of power are manufactured, the power of a given panel is not exactly 250 watts, but there is a 0.5 probability that it is less than 250 watts and a 0.5
Alice started a company upon graduating from the University of Guelph, and a few years later she sold it to a larger firm in the same industry. She used the money from that sale to start a second
A German company has just submitted a 220-page bid on a contract to supply state-of-theart mining equipment to the Canadian mining company Barrick Gold. The supplier has supplied most of the major
An oil company executive and an executive of a mining company meet during the coffee break of a conference about opportunities in the Canadian Arctic. “They say 30% of the world’s undiscovered
A mining company listed on the Toronto Stock Exchange is considering a merger with another company. The CEO thinks that the probability of the deal being acceptable to his shareholders is 0.9. He has
Professor A. Voidim looked through the midterm exam marks of his 100 students and wondered whether there was a way to motivate them to do better on the final exam. He decided to try out two ideas.
Four people each invest $1000, with each person garnering a different rate of return.a) The first three people invest $1000 each for one year in three different investments. The first person gets a
Countries divide natural gas into reserves (the amount economically extractable at current prices) and resources (the amount technically extractable if the price is high enough). Reserves and
The amount of debt for selected countries in 2013 is given in the table below (“trn” means trillions):Country
Twenty-one countries won gold medals in the 2014 Winter Olympics. The following table lists the countries, along with the total number of medals each won:a) Try to make a display of these data. What
Data from the International Tanker Owners Pollution Federation Limited (www.itopf.com) give the cause of spillage for small and large oil tanker accidents for 1970–2013. Draw a graph comparing the
In the 2011 Canadian federal election, the number of seats and the percentage of votes were divided among the parties as follows:a) Draw a graph of this data that allows you to compare the percentage
In the 2008 Canadian federal election, the number of seats was divided among the parties as shown in the table in the next column. The Conservatives won the election, but formed a “minority”
Here’s a bar chart of the data in Exercise 15:a) Compared to the pie chart in Exercise 15, which is better for displaying the relative portions of market share? Explain.b) What is missing from this
A local bookstore is keeping a database of its customers in order to find out more about their spending habits so that the store can start to make personal recommendations based on past purchases.
A real estate agent collected information on some recent local home sales. The first six lines of the database appear below. The columns correspond to the house identification number, the community
Air Canada and United Continental sell seats on each other’s cross-border flights, coordinating fare structures and discounts while competing for passengers. In 2011 they proposed a closer
The marketing manager for a department store wants to know how important quality is to her customers. A consultant reports that based on past research, 30% of all consumers nationwide are more
When a university sends out an offer of a place on an MBA program, it requires the applicant to respond to the offer within four weeks. The applicant may accept the offer within four weeks (in which
In Canada, provincial governments allocate to oil companies geographical regions in which to explore for oil. If they discover oil, they do not necessarily extract the oil since the cost of
According to a treaty with the United States, Canada may withdraw one-third of the water from the Niagara River before it reaches Niagara Falls. Canada uses a canal and two tunnels to take water to
Baffin Bay, located between Canada and Greenland, is being explored for oil and natural gas. First, an energy company conducts a geological survey, and if the data look promising it starts drilling.
You’re considering buying shares in a small Canadian mining company that has just issued an initial public offering (IPO) of shares on the Vancouver Stock Exchange at $8 per share. A limited number
Researchers studying government records of small businesses found that the probability of a newly established small business still being operational in five years was 0.35. However, entrepreneurs
Environmentalists concerned that global warming may make planet Earth uninhabitable sometimes emphasize their point of view by saying “There is no Planet B.” But space agencies around the world
In the 2006 federal election, the Liberal government that decriminalized the possession of small quantities of marijuana was replaced by a Conservative government. The new government considered
A survey of 1056 houses found the following relationship between price (in $) and whether the house had a fireplace in 2006. Is the price of the house independent of whether it has a fireplace?
Look again at the data from the GfK Roper Worldwide survey on skin care in Exercise 44.a) If we select a respondent at random, what’s the probability that we choose a person from France who agrees
Look again at the data from the GfK Roper Worldwide survey on food attitudes in Exercise 43.a) If we select a respondent at random, what’s the probability that we choose a person between 13 and 19
Given the table of probabilities compiled for a department store chain in Exercise 48, are age <20 and shopping at the department store independent? Explain.
Twenty percent of cars that are inspected have faulty pollution control systems. The cost of repairing a pollution control system exceeds $250 about 40% of the time. When a driver takes a car in for
Suppose an online business organizes an email survey to find out if online shoppers are concerned about the security of business transactions on the web. Of the 42 individuals who respond, 24 are
A GfK Roper Worldwide survey asked consumers in five countries whether they agreed with the statement “I follow a skin care routine every day.” Here are the responses classified by the country of
A GfK Roper Worldwide survey asked consumers in five countries whether they agreed with the statement “I am worried about the safety of the food I eat.” Here are the responses, classified by the
The Canadian mining company Barrick Gold operates the Donlin Creek mining project in the Yukon–Kuskokwin region, today providing stable employment with 90% First Nations people as employees and
A Canadian mining company explores a site in Zambia for copper and zinc using exploratory drilling to obtain samples. The probability that a sample contains copper is 0.6 and the probability that a
Canadian Blood Services has to track the supply of and demand for various blood types. It estimates that 46% of the Canadian population has Type O blood, 42% Type A, 9% Type B, and the rest Type
Following from Exercise 37, according to Pew Research, the contact rate (probability of contacting a selected household) in 1997 was 69%, and in 2003 it was 76%. However, the cooperation rate
Marketing research firms often contact their respondents by sampling random telephone numbers. Although interviewers currently reach about 76% of selected households, the percentage of those
A Gallup Poll in March 2007 asked 1005 adults whether increasing domestic energy production or protecting the environment should be given higher priority. Here are the results:Response
A toy company manufactures a spinning game and needs to decide what probabilities are involved in the game. The plastic arrow on the spinner stops rotating to point at a colour that will determine
Using the probability tree in Exercise 16, what is the probability that a job applicant who is rejected by the polygraph was actually telling the truth? - Polygraph says "Lie" Applicant Tells Truth -
Using the probability tree in Exercise 15, if a randomly selected worker is female, what is the probability that she is white? Male White Female Male Black Female Male Hispanic/Latino Female
The following contingency table shows opinions about global warming (nonissue vs. serious concern) among registered voters, broken down by political party affiliation (Liberal, Conservative, and
You and your friend decide to get your cars inspected. You are informed that 75% of cars pass inspection. If the event of your car’s passing is independent of your friend’s car,a) What is the
Which probability assessment method was used in each of the following examples: empirical, theoretical, or subjective?a) An insurance company analyzes past automobile claims and assesses the

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