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Questions and Answers of Business Statistics

The monthly exchange rates for the five-year period October 2012 to October 2017 between the euro (EUR) and the British pound (GBP) can be modeled by a Normal distribution with mean 1.24 euros (to
In the first quarter of 2017, a group of domestic equity mutual funds had a mean return of 6.2% with a standard deviation of 1.8%. If a Normal model can be used to model them, what percent of the
Lifetimes of electronic components can often be modeled by an exponential model. Suppose quality control engineers want to model the lifetime of a hard drive to have a mean lifetime of 3 years.a)
Jeff, a sales manager of a car dealership, believes that his sales force sells a car to 35% of the customers who stop by the showroom. He needs the dealership to make 50 sales this month to get a
The U.S. Census Bureau’s 2012 Survey of Business Owners (www.census.gov/newsroom/press-releases/2015/ cb15-209.html) showed that 35.8% of all non-farm businesses are owned by women. You are phoning
A Pew Research report on September 13, 2017, reported that 61% of 18?29 year olds watch TV using online streaming services. (By contrast, only 5% of those 65 and older watch online.) The table below
A global survey firm reports data from surveys taken in several countries. The data file Global holds data for 800 respondents in each of five countries. The variables provide demographic information
Here are the number of domestic f lights flown in each year from 2000 to 2016 (www.transtats.bts .gov/homepage.asp):Year ................................... Flights2000
Here are engine size (displacement, in liters) and gas mileage (estimated combined city and highway) for a random sample of 35 2016 model cars (taken from Fuel Economy 2016 and identified in the data
Concern over the weather associated with El Ni?o has increased interest in the possibility that the climate on Earth is getting warmer. The most common theory relates an increase in atmospheric
Numbeo.com collects data from users in cities around the world on prices of a basket of goods and services and uses these data to determine a cost of living index. This index scales New York City as
Perhaps fans are just more interested in teams that win. The displays below are based on American League teams for the 2016 season. (Data in Attendance 2016) a) Do winning teams generally enjoy
Is economic growth in Europe related to growth in the United States? Here?s a scatterplot of the average growth in the 19 European countries (% of Gross Domestic Product) vs. the growth in the United
Is economic growth in the developing world related to growth in the industrialized countries? Here?s a scatterplot of the growth (in % of Gross Domestic Product) of the least developed countries (as
An economics student is studying the American economy and finds that the correlation between the inf lation-adjusted Dow Jones Industrial Average and the Gross Domestic Product (GDP) (also inf lation
The scatterplot shows, for 2015 cars, the carbon footprint (tons of CO2 per mile) vs. the new Environmental Protection Agency (EPA) highway mileage for 69 family sedans as reported by the U.S.
The 30 quarterbacks in Exercise 32 had an average Salary of $13,788,022 1SD = $8,130,5362. The correlation between Salary and Total QBR = 0.278. If a player had a Total QBR rating 1 SD below the
In 2016, the Los Angeles Dodgers spent nearly one quarter billion (!) dollars on salaries for their players (Spotrac). Is there a relationship between salary and team performance in Major League
Is there a relationship between total team salary and the performance of teams in the National Football League (NFL)? For the 2016?2017 season, a linear model predicting Wins (out of 16 regular
The average salary for 30 top NFL quarterbacks in 2017 was just over $13,000,000. A linear model to predict Salary from Total QBR (an overall measure of performance based on game statistics) found
According to the U.S. Securities and Exchange Commission (SEC), a mutual fund is a professionally managed collection of investments for a group of investors in stocks, bonds, and other securities.
Rebekkah Greene, owner of Up with Life Café and Marketplace, is a true believer in the health and healing benefits of food. She offers her customers pure, wholesome, and locally sourced products.
Here is a histogram of the monthly CPI as reported by the Bureau of Labor Statistics (www.bls.gov/cpi) from January 2007 through August 2017. Here is the time series plot for the same data. a)
The histogram shows themonthly U.S. unemployment rate from January 2003 toAugust 2017. Here is the time series plot for the same data. a) What features of the data can you see in the histogram
Standard and Poor’s Case- Shiller Home Price Index measures the residential housing market in metropolitan regions across the United States. The national index, Composite.10, is a composite of 10
The data set provided contains U.S. regular retail gasoline prices (cents/gallon) from 2007 to August 2017, from a national sample of gasoline stations obtained from the U.S. Department of Energy.a)
In 2016, the mean tuition of private colleges and universities was $18,230, with a standard deviation of $7272. The mean tuition for public colleges and universities was $9624, with a standard
The claims about climate change suggest two possible effects: more storms and bigger, stronger storms. Here are plots similar to those of Exercise 65, but for major hurricanes. (Data in Hurricane
The North Atlantic hurricane database, or HURDAT, is a database of all tropical storms and hurricanes for the Atlantic Ocean, Gulf of Mexico, and Caribbean Sea, reporting numbers of storms each year
The data set provided contains 2016 (4th quarter) unemployment rates for 38 developed countries (www.oecd.org). Produce an appropriate graphical display and briefly describe the distribution of
Established in Paris in 1961, the Organization for Economic Cooperation and Development (OECD) (www.oecd.org) collects information on many economic and social aspects of countries around the world.
The U.S. Energy Information Administration (EIA) collects data on the total energy used per capita in transportation for each state and the District of Columbia. The data show the per capita
On December 30, 2016, the Standard and Poor?s (S&P) 500 index hit an all-time high. During 2016, the S&P returned 12.25%. Here is a histogram of the 2016 net returns (total return ? annual
The website LosAngelesGasPrices .com has current gasoline prices all over the United States. In the week of September 10, 2017, the following histogram shows the gas prices at 44 stations in the San
Pew research surveyed 25- to 34-yearold adults in 2013 and asked them how important it is ?to you personally? to have a high-paying job? Here is a table reporting the responses. a) What percent of
In 2015, the following data were reported by the U.S. Census Bureau. The data show the number of people (in thousands) living above and below the poverty line in each of the four regions of the
The following table shows attendance data collected by the Motion Picture Association of America during the period 2014 to 2016. Figures are the number (in millions) of frequent moviegoers in each
The following table shows the number of films in each MPAA (www.mpaa.org) rating by year for each of the years between 2006 and 2015. (Data extracted from Movies 06-15) a) What percent of all these
Apple, Inc., divides their expenses into four categories: Cost of Revenue; Research & Development; Selling, General, & Administrative; and Income Taxes. The table below shows these categories
The government and many companies are interested in the number of people who lose their home because they are unable to pay. The process of losing a home has three stages, which begin with a
GE derives revenue from eight operating segments, including three iconic divisions: Power, Aviation, and Healthcare. The following table shows the percentage of all revenue derived from these sources
Business-to-business sales are a huge fraction of the economy of every country. As a result, there is a whole industry dedicated to tracking the market share of business products and services.
In 2014, Pew Research Center released the results of a survey among U.S. adults that asked nearly 2000 people how satisfied they are with their current financial situation (www.pewsocialtrends
Corporations are also very interested in the value of their brand. The following chart displays the value of the top 6 carbonated soft drink brands in 2015 as collected by Millward Brown
Multinational corporations face stiff competition in the carbonated drink category (also known as soda or pop, depending on where you live). Data were collected on the 2015 U.S. market share of
The data set from Dalia Research (you’ll learn more about Dalia in Chapter 2) contains 763 variables, including demographic information on the 43,034 respondents and survey questions on a variety
The market share analysis of rides in New York City was based in part on the data from the New York City Taxi and Limousine Commission. Data on eachride can be found on the website
Determine the Pearson product?moment correlation coefficient for the following data. 3 95 3 35 6 40 95 45 38 82 90
Determine the value of r for the following data. 158 349 296 87 301 436 550 110 322 х У 510
The following data are the selling prices of houses (in $000) and the land size (in square metres) for an outer suburb of Sydney.Land size (square metres) ..................................... Price
The CEO of Combaro Ltd is interested in seeing whether employees who are paid more have a greater level of job satisfaction and take fewer days off. Using the dataset provided on the student website
The marketing team of a major car rental company has found that 68% of its customers rent a car for three days. A random sample of 500 customers is taken. What is the probability that the proportion
Egg production per year in Malaysia can be closely approximated as being normally distributed with a standard deviation of 83 million eggs. If during the year only 3% of egg farmers produce more than
Graph the distribution for problem 5.10. For which values of x are the probabilities highest? Determine the expected value of this distribution. How does the expected value compare with the values of
According to the ABS, 64% of Australian adults live in capital cities. Further, the ABS reports that about 3% of all Australian adults care for ill relatives. Suppose that, of those adults living in
A survey conducted by Roy Morgan Research asked 1116 Australians to nominate health issues they consider important. Sixty per cent of respondents nominated cancer as an important health issue, while
The chief financial officer (CFO) for the producer of a well-known fashion line has recently come under fire for suggesting that retailers should hire younger people as frontline employees to improve
According to an industry survey, women make more photo prints than men. Eighty per cent of users of photo-printing kiosks are women. Sixty-three per cent of women think photo prints are important,
Suppose that, for every family holiday trip of more than 2000 km by car, an average of 0.60 flat tyres occurs. Suppose also that the number of flat tyres per trip of more than 2000 km is Poisson
The average fee charged by suburban accountants to do a basic tax return in Brisbane was found to be normally distributed with a mean of $110 and standard deviation of $15. If a random sample of 45
These are data for job vacancies in the mining industry in Australia for the period November 2015 to May 2020. Use the data to answer the following questions.(a) Compute a 4-period MA to forecast job
In an experiment to investigate the effect of the portrayal of female characters in superhero movies, researchers randomly assigned female college students to one of three groups (?The Empowering
The paper ?Trends in Blood Lead Levels and Blood Lead Testing among U.S. Children Aged 1 to 5 Years? (Pediatrics [2009]: e376?e385) gave data on blood lead levels (in mg/dL) for samples of children
It is common for baseball pitchers to use stretching to prepare for a game. But does this make a difference? The authors of the paper ?The Acute Effects of Upper Extremity Stretching on Throwing
The authors of the paper ?Reading Subtitles and Taking Enotes While Learning Scientific Materials in a Multimedia Environment? (Educational Technology and Society [2016): 47?58) were interested in
Do people feel hungrier after sampling a healthy food? The authors of the paper ?When Healthy Food Makes You Hungry? (Journal of Consumer Research [2010]: S34 S44) carried out a study to answer this
This exercise requires the use of a statistical software package. Use the data given in Exercise 14.29 to verify that the regression function is estimated by (mean y value) %3Da+ Bx, + Bx, + Вх, +
The paper referenced in Exercise 14.16 used a multiple regression model to describe the relationship between y = Percentage of body fat mass and three predictor variables.x1 = log of body mass index
Because it is difficult to measure body fat, researchers have considered different ways to predict body fat based on other characteristics. One model proposed in the paper “A Comparison Between
Groundwater is the main source of water in many countries. In a study of the quality of ground water in Yemen, the authors of the paper “Multiple Linear Regression Model for Chloride Estimation of
The authors of the paper “Power-Load Prediction Based on Multiple Linear Regression Model” (Boletin Tecnico [2017]: 390–397) were interested in predicting the load on the electric power system
Investigators in northern Alaska periodically monitored radio-collared wolves in 25 wolf packs over 4 years, keeping track of the packs? home ranges (?Population Dynamics and Harvest Characteristics
The graphs accompanying this exercise are based on data from an experiment to assess the effects of logging on a squirrel population in British Columbia (?Effects of Logging Pattern and Intensity on
The paper referenced in Exercise 13.9 (?Depression, Body Mass Index, and Chronic Obstructive Pulmonary Disease?A Holistic Approach,? International Journal of COPD [2016]: 239?249) gave data on x =
Acrylamide is a chemical that is sometimes found in cooked starchy foods and which is thought to increase the risk of certain kinds of cancer. The paper ?A Statistical Regression Model for the
The accompanying data are a subset of data from the report “Great Jobs, Great Lives” (Gallup-PurdueIndex 2015 Report, gallup.com/reports/197144 /gallup-purdue index-report-2015.aspx,
The largest commercial fishing enterprise in the southeastern United States is the harvest of shrimp. In a study described in the paper ?Long-term Trawl Monitoring of White Shrimp, Litopenaeus
The paper ?Depression, Body Mass Index, and Chronic Obstructive Pulmonary Disease?A Holistic Approach? (International Journal of COPD [2016]: 239?249) gives data on x = Change in body mass index (BMI
The accompanying graphical display is similar to one that appeared in USA TODAY (February 19, 2010). It is meant to be a pie chart, but an oval rather than a circle is used to represent the whole
The authors of the paper ?Risk of Malnutrition Is an Independent Predictor of Mortality, Length of Hospital Stay, and Hospitalization Costs in Stroke Patients? (Journal of Stroke and Cerebrovascular
The report referenced in the previous exercise also provided data on perception of money management skills by age group. Use the data from 788 people, in the accompanying table to determine if there
Using data from a national survey, the authors of the paper “What Do Happy People Do?” (Social Indicators Research [2008]: 565–571) concluded that there was convincing evidence of an
The report ?Majoring in Money: How American College Students Manage Their Finances,? (June 28,2016, salliemae.newshq.businesswire.com/sites? /salliemae.newshq.businesswire.com/files/doc
The report ?Consumer Revolving Credit and Debt Over the Life Cycle and Business Cycle? describes a study conducted by the Federal Reserve Bank of Boston (bostonfed.org, October 2015, retrieved May
The report ?Education Pays 2016? (The CollegeBoard, trends.collegeboard.org/sites/default? /files/education-pays-2016-full-report.pdf, retrieved May 27, 2017) provided information on education level
Each person in a representative sample of 445 college students age 18 to 24 was classified according to age and to the response to the following question: “How often have you used a credit card to
The Knight Foundation investigated whether high school students agreed with the statement that people should be allowed to burn or deface the American flag as a political statement. This question was
The Knight Foundation asked each person in a representative sample of high school students and in a representative sample of high school teachers which of the rights guaranteed by the First Amendment
Some colleges now allow students to pay their tuition using a credit card. The report ?Credit Card Tuition Payment Survey 2014? (creditcards .com/credit-card news/tuition-charge-fee-survey .php,
The authors of the paper ?External Factors and the Incidence of Severe Trauma: Time, Date, Season and Moon? (Injury [2014]: S93?S99) classified admissions to hospitals in Germany according to season.
A popular urban legend is that more babies than usual are born during certain phases of the lunar cycle, especially near the full moon. The paper “The Effect of the Gravitation of the Moon on
The “Global Automotive 2016 Color Popularity Report” (Axalta Coating Systems, axaltacs.com) included data on the colors for a sample of new cars sold in North America. They reported that 25% of
In 2014, the University of Houston carried out a study for the Texas Lottery Commission (“Demographic Survey of Texas Lottery Players”) that gives the age distribution for a representative sample
The article “Americans Say No to Electric Cars Despite Gas Prices” (USA TODAY, May 25, 2011) describes a survey of public opinion on issues related to rising gas prices. The survey was conducted
As part of a study described in the report ?I Can?t Get My Work Done!? (harmon.ie/blog/i-cant-get -my-work-done-how-collaboration-social-toolsdrain- productivity, 2011, retrieved May 6, 2017), people
A report in USA TODAY described an experiment to explore the accuracy of wearable devices designed to measure heart rate (“Wearable Health Monitors Not Always Reliable, Study Shows,” USA TODAY,
Example 11.11 describes a study in which 354 of 708 people in the sample of 18- to 29-year-olds and 412 of the 1029 people in the sample of 30- to 49-year-olds said that they thought it was OK to use
An article titled ?TCU Horned Frogs Game Preview (Part 1)? (uwdawgpound.com/2016/11 /26/13710900/washington-huskies-tcu-horned -frogs-game-preview-part-1, retrieved December 20, 2016) previews a
Researchers were interested in comparing regularintensity exercise and high-intensity exercise for patients recovering from hospitalization due to chronic obstructive pulmonary disease (COPD). The
The report ?The 2016 Inside Higher Ed Survey of Faculty Attitudes on Technology? (insidehighered.com /booklet/2016-survey-faculty-attitudes-technology, retrieved December 14, 2016) describes the

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