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business statistics

Questions and Answers of Business Statistics

A study of motel facilities in Rock Hill showed there are 25 facilities. The city?s convention and visitors bureau is studying the number of rooms at each facility. The results are as follows: a.
The Sugar Producers Association wants to estimate the mean yearly sugar consumption. A sample of 16 people reveals the mean yearly consumption to be 27 kilograms (kg) with a standard deviation of 9
A marketing survey was conducted to estimate the proportion of homemakers who would recognize the brand name of a cleanser based on the shape and the colour of the container. Of the 1400 homemakers
A recent report indicated a typical family of five spends $650 per month on food. Assume the distribution of food expenditures for a family of five follows a normal distribution, with a mean of $650
A recent survey reported that the average person consumes 6 glasses of water per day (250 mL per glass). Assume the standard deviation of water consumption is 1.5 glasses per day and the consumption
A retailer claims that 90% of its customers are pleased or very pleased with the customer service. In a survey of 300 customers taken last week, what is the probability that:a. 85% or more will
A recent study by the Island Resort Taxi Drivers Association showed that the mean fare charged for service from the beach to the airport is $21.00 and the standard deviation is $3.50. We select a
In recent years, interest rates on home mortgages have been lowered to less than 6.0%. However, a recent study shows that the rate charged on credit card debt is more than 14%. A sample of 10 credit
Global TV news, in a segment on the price of gasoline, reported last evening that the mean price nationwide is $1.25 per litre for self-serve regular unleaded. A random sample of 35 stations in
Dole Pineapple Inc. is concerned that the 450 mL can of sliced pineapple is being overfilled. The population standard deviation is 0.85 mL. The quality control department took a random sample of 50
The manager of Tea for Us has been ordering stock based on the assumption that 40% of her customers prefer black teas. The following hypotheses are given:H0: p = 0.40H1: p ≠ 0.40She sampled 120 of
An online retailer ships products from overseas with an advertised delivery date within 10 days. To test whether or not deliveries are made within the advertised time, a random sample of 10 orders is
Given the following hypotheses:H0: μ = 400H1: μ ≠ 400A random sample of 12 observations is selected from a normal population. The sample mean was 407 and the sample standard deviation 6. Using
The mean mass of the puppies at five months is 4.35 kg. The masses follow the normal distribution. In an effort to increase their mass, a supplement is added to their daily meals. The subsequent
A recent national survey found that high school students watched an average (mean) of 6.8 DVDs per month, with a population standard deviation of 0.5 DVDs per month. The distribution of
The manufacturer of the X-15 steel-belted radial truck tire claims that the mean mileage the tire can be driven before the tread wears out is 96600 km. The population standard deviation of the
Made Fresh pasta averages a wait time of 20 minutes for customers to pick up their take-out orders. Periodically, the manager will take a sample of the orders to see if the wait times have increased.
An online retailer ships products from overseas with an advertised delivery date within 10 days. To test whether or not deliveries are made within the advertised time, a random sample of 36 orders is
For each of the following, state the null hypothesis and the alternative hypothesis:a. The publisher of Celebrity Living claims that the mean sales of personality magazines featuring such celebrities
For each of the following, state the null hypothesis and the alternative hypothesis:a. A new cash register has been installed at the Stop One Convenience Store. The manager wants to see if the new
Refer to the Real Estate Data—Saskatoon online, which reports information on home listings. Consider this a population, and take a sample of 20 listings.a. Develop a 90% confidence interval for the
Refer to the CREA Cities Only data online, which reports information on average house prices nationally and in a selection of cities across Canada.a. Develop an 80% confidence interval for the
Refer to the CREA Cities Only (Canadian Real Estate Association) data online, which reports information on average house prices nationally and in a selection of cities across Canada.a. Develop a
Refer to the Real Estate Data—Halifax Area online, which reports information on home listings. Consider this a population, and take a sample of 40 listings.a. Develop a 95% confidence interval for
A random sample of 25 people who purchased tickets to the Limelight Theatre on a regular basis stated they paid an average of $65.00 per ticket. The sample standard deviation was $6.25 per
As part of their business promotional package, the Costa Rica Chamber of Commerce would like an estimate of the mean cost per day to lease a one-bedroom apartment. A random sample of 40 apartments
In a recent poll of 1000 adults nationwide, 613 said they believe other forms of life exist elsewhere in the universe. Construct the 99% confidence interval for the population proportion of those
The Simcoe County Food Emporium claims that ?the typical customer spends $60 per visit.? A sample of 12 customers revealed the following purchases, in dollars, spent last visit: a.?What is the point
A meat inspector has been given the assignment of estimating the mean net mass of packages of ground chuck labelled “1.4 kg.” Of course, he realizes that the masses cannot be precisely 1.4 kg. A
A company conducts a survey of a large number of college undergraduates for information on the following variables: the name of their cell phone provider (e.g., Rogers, Bell), the numbers of minutes
It takes Sandip between 6 and 10 minutes to drive to work each day, depending on the weather and traffic. His travel time is uniformly distributed between these times.a. What are the values
The college made a list of all of the classes registered in the semester and then randomly selected 25 classes. All students in the selected 25 classes were surveyed.
Refer to the Real Estate Data—Halifax Area online, which reports information on home listings. The mean list price (in $ thousands) of the homes was computed earlier. Use the normal distribution to
What is the level of measurement for each of the following variables?a. Student IQ (intelligence quotient) ratings.b. Distances students travel to class.c. Student scores on the first
What is the level of measurement for these items related to the newspaper business?a. The number of papers sold each Sunday during 2016.b. The number of employees in each of the departments,
For each of the following, determine whether the group is a sample or a population:a. The participants in a study of a new diabetes drug.b. The drivers who received a speeding ticket in
Electronic book readers allow users to browse, shop, download, and read e-books, blogs, newspapers, and magazines, all displayed in full colour. Assume that you know the number of units sold each day
A random sample of 300 executives out of 2500 employed by a large firm showed that 270 would move to another location if it meant a substantial promotion. On the basis of these findings, write a
A random sample of 500 customers is asked to comment on the take-out service at The Chicken Hut. Of the 500 customers surveyed, 400 said it was excellent, 32 thought it was fair, and the remaining
The following table reports the number of tickets sold at an ice rink for sports activities for the months of January last year and January this year: a. Compare the total sales in the two years.
The following data is the number of seconds it took to save a large file. Determine the median and the values corresponding to the first and third quartiles. 8.81 6.02 9.45 8.35 7.59 6.67 7.30 7.99
The variable “grade”:a. Is it qualitative or quantitative?b. Is it discrete or continuous?c. What is its level of measurement?Who had a grade of less than 50% on their first test
“Statistics 101”:a. Is it a qualitative or quantitative variable?b. What is its level of measurement?Who had a grade of less than 50% on their first test are required to take a
The variable “box office sales”:a. Is it qualitative or quantitative?b. Is it discrete or continuous?c. What is its level of measurement?Is there a relationship between box office
The variable “box office sales”:a. Is it qualitative or quantitative?b. Is it discrete or continuous?c. What is its level of measurement?Is there a relationship between box office
Is the information collected from a sample or a population?The Shell station on Portage Avenue in Winnipeg is studying the number of litres of fuel that are sold on each day of the week. Records are
The variable “number of litres”:a. Is it qualitative or quantitative?b. Is it discrete or continuous?c. What is its level of measurement?The Shell station on Portage Avenue in
Would the 50 employees be considered a population or a sample?PlayTime Toys Inc. employs 50 people in the Assembly Department. Of the employees, 40 belong to a union, and 10 do not. Five employees
Would the five selected employees be considered a population or a sample?PlayTime Toys Inc. employs 50 people in the Assembly Department. Of the employees, 40 belong to a union, and 10 do not. Five
The variable “major”:a. Is it qualitative or quantitative?b. What is its level of measurement?A survey of students in the School of Business at Northern College revealed the following
The spread in the annual prices of stocks selling for under $10 and the spread in prices of those selling for over $60 are to be compared. The mean price of the stocks selling for under $10 is $5.25
The variable “gender”:a. Is it qualitative or quantitative?b. What is its level of measurement?A survey of students in the School of Business at Northern College revealed the following
For the following variables, classify each as discrete or continuous qualitative or quantitative, and determine the level of measurement:a. Salary.b. Gender.c. Sales volume of MP3
Refer to the Real Estate Data—Whistler, BC, online, which reports information on listed homes for July 2016. Consider the variables: list price, number of bedrooms, full bathrooms, square feet,
Refer to the CREA (Canadian Real Estate Association) data online, which reports information on average house prices nationally and in a selection of cities across Canada. Consider the variables
Refer to the Average Weekly Earnings data online, which reports information on the average weekly earnings by year and province. The variables are province, year, and average weekly
Rob Whitner is the owner of Whitner Autoplex. Rob’s father founded the dealership in 1964, and for more than 30 years, they sold exclusively Pontiacs. In the early 1990s, Rob’s father’s health
The National Household Survey conducted by Statistics Canada in 2011 reports that 851 560 people identified themselves as First Nations persons, 451 795 identified themselves as Métis, 59 445
Shown below are the student loan amounts for 2018 for eight students in the business administration program. Develop a bar chart for the data, and summarize the results in a brief report. Amount ($)
Stop-One.com, a large Internet retailer, is studying the lead time (elapsed time between when an order is placed and when it is filled) for a sample of recent orders. The lead times are reported in
The Consumer Price Index increases from 2006 to 2015 (base year 2002 = 100) is shown in the following table (statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/econ161a-eng.htm). Construct a line chart
The number of minutes that it takes an auditor to process an invoice is given in the table below: a.?What is the arithmetic mean of processing time?b.?Find the median and mode of the processing
Gas prices in St. John’s, Newfoundland, have increased from 64.1 cents per litre for regular unleaded in 1990 to 121.7 cents per litre in 2016 (www40.statcan.gc.ca/l01/cst01/perecon154a-eng.htm).
In 2011, there were 42 million pager subscribers. By 2016, the number of subscribers increased to 70 million. What is the geometric mean annual increase for the period?
The average tuition fees for dentistry in Canada increased from $7863 for the 1999–2000 academic year to $21 021 in the 2016–2017 academic year
Colton spent the following amounts in the cafeteria last week: $8, $3, $7, $3, and $4. Consider these five amounts a population.a. Determine the mean of the population.b. Determine the
The number of customers ordering sandwiches from BagelStop between 8 and 9 am on six consecutive days was 13, 3, 8, 10, 8, and 6. Consider these six values a population.a. Determine the mean of
The number of returns audited on each day last week are: 7, 2, 6, 2, and 3. Consider this sample data.a. Compute the sample variance.b. Determine the sample standard deviation
The following number of bags of cookies were removed from a production line in the last five hours to be tested for quality purposes: 11, 6, 10, 6, and 7.a. Compute the sample
The following figure portrays the appearance of a distribution of efficiency ratings for employees of Nale Nail Works Inc.: a.?Estimate the mean efficiency rating.b.?Estimate the standard deviation
For a sample of students in a college studying Business Administration, the mean grade-point average is 3.10, with a standard deviation of 0.25. Compute the coefficient of variation.
Skipjack Airlines is studying the mass of luggage for each passenger. For a large group of domestic passengers, the mean is 21 kg, with a standard deviation of 5 kg. For a large group of overseas
The research analyst for the Sidde Financial stock brokerage firm wants to compare the dispersion in the price-earnings ratios for a group of common stocks with the dispersion of their return on
The following data is the ages of a group of tourists horseback riding in Calgary, Alberta. Determine the median and the values corresponding to the first and third quartiles. 49 49 54 51 54 53 46 47
In a study of the fuel efficiency of model year 2010 automobiles, the mean efficiency was 12 kilometres per litre (km/L), and the median was 11.7 km/L. The smallest value in the study was 5.5 km/L,
Determine the mean, median, and standard deviation of the following frequency distribution: Class Frequency 0 to under 5 2 5 to under 10 7 10 to under 15 12 15 to under 20 20 to under 25 3
Determine the mean, median, and standard deviation of the following frequency distribution: Class Frequency 20 to under 30 30 to under 40 12 21 40 to under 50 50 to under 60 18 60 to under 70 12
The following frequency distribution reports the amount, in thousands of dollars, owed by a sample of 50 public accounting firms. Find the mean, median, and standard deviation. Amount ($ thousands)
The Canadian government wants to know the relative age of its workforce. As the ?baby boom? generation becomes older, the government is concerned about the availability of younger, qualified workers.
The uncertainty in the stock market led Sam to diversify his investments. However, he still felt that stock options would earn the most, so he left the bulk of his funds in stock options. The table
Listed below are the commuting distances, in kilometres, of students attending college for their first year: a.?What is the arithmetic mean distance travelled?b.?What is the median distance
The Carter Construction Company pays its summer students an hourly rate of $13 for general labour, $15.50 for landscaping, or $18 for road work. Forty students were hired for the summer, 20 for
A library has seven branches in its system. The number of volumes (in thousands) held in the branches are83, 510, 33, 256, 401, 47, and 23.a. Is this a sample or a population?b. Compute the
A major airline wanted some information on those enrolled in its ?frequent flyer? program. A sample of 48 members resulted in the following distance flown last year, in thousands of kilometres, by
The National Muffler Company claims they will change your muffler in less than 30 minutes. An investigative reporter for WTOL Channel 11 monitored 30 consecutive muffler changes at the National
The following box plot shows the number of daily newspapers published. Summarize the findings. Be sure to include information on the values of the first and third quartiles, the median, and whether
A data distribution has a median value of 85, a first-quartile value of 80, and a third-quartile value of 100. Would the following values be considered a low outlier, a high outlier, or not an
Find the mean, median, mode, standard deviation, and interquartile range. Consider these sample data. Grade on Quiz 3 4 5 7 10 Number of Students 20 4 4
Find the mean, median, mode, standard deviation, and interquartile range. Consider these sample data. 60 Grade on Quiz 50 70 80 90 100 17 21 8. 13 Number of Students 2 40
The final marks for the Wednesday class in Statistics 101 are ready to be posted. The class average is 70%, with a standard deviation of 8. Use the Empirical Rule to answer the following
The final marks for the Wednesday class in Statistics 101 are ready to be posted. The class average is 72%, with a standard deviation of 9. Use the Empirical Rule to answer the following
Refer to the following data: 11 26 34 12 15 33 37 55 41 36 42 14 39a. Determine the values for the first, second and third quartiles.b. Sketch a boxplot for the data.c. Beyond what
Refer to the following data: 110 265 344 125 165 333 537 855 410 362 412 114 390 115a. Determine the values for the first, second and third quartiles.b. Sketch a boxplot for the
A national pollster has developed 15 questions designed to rate the performance of the prime minister of Canada. The pollster will select 10 of these questions. How many different arrangements are
The chair of the board of directors says, “There is a 50% chance this company will earn a profit, a 30% chance it will break even, and a 20% chance it will lose money next quarter.”a. Use an
There are 10 marbles in a bag: red, blue and green. Some are clear and some are solid. Refer to the following table: If a marble is selected:a.?Determine?P(Red).b.?Determine?P(Clear|Blue).c.
Students were surveyed on the number of visits to a Marc?s Milk convenience store (often, occasional, or never) and if the store was conveniently located to their school (yes or no) a. What is the
Define each of these items:a. Conditional probability.b. Event.c. Joint probability
How many possible outcomes are there when a coin is tossed six times?
A photographer has four pictures to arrange for a gallery showing. In how many ways can the photographer arrange the pictures?

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