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business statistics

Questions and Answers of Business Statistics

Newcastle Inc. reported a total of $69.5 billion in sales revenue. Seventy-three percent of the total was paid out for operating expenses, 11% in dividends, 3% in interest, 8% profit, and 5% in a
Two thousand frequent business travellers are asked which western city they prefer: Vancouver, Calgary, Edmonton, or Saskatoon. One hundred liked Vancouver best, 450 liked Calgary, 1300 liked
A total of 42 students wrote the first test in statistics 101. Three students achieved a grade over 90%; 12 students were between 80 and 89; 16 students between 70 and 79; 8 between 60 and 69 and the
The number of Olympic medals won by Canada in the last five Winter games is listed below. Develop an appropriate chart or graph, and write a brief report summarizing the
The following table shows the average weekly earnings of workers in Canada. Develop an appropriate chart to summarize the findings. The complete data set can be found on Connect ?Average Weekly
The business school at the local college reported the following percentage breakdown of expenses. Draw a pie chart showing the information. Percentage (%) Category Professional development 32.3%
The following table displays the average retail price of gasoline per litre, in July in St. John?s, Newfoundland, over the last five years
A recent survey showed that a typical car owner spends $3487 per year on operating expenses. A breakdown of the various expenditure items is given below. Construct an appropriate chart to portray the
Alexandra Dawn will be building a new resort in Cape Breton. She must decide how to design the resort based on the type of activities that the resort will offer to its customers. A recent poll of 300
The following stem-and-leaf chart reports the number of movies rented per day at Video Connection: a.?How many days were studied?b.?How many observations are in the last class?c.?What are the largest
The following stem-and-leaf chart shows the number of units produced per day in a factory: a.?How many days were studied?b.?How many observations are in the first class?c.?What are the smallest and
Answer the following questions using the data from the Excel file Great Smoky Mountain.xlsx from Problem 16.47.The Great Smoky Mountain National Park on the border of Tennessee and North Carolina is
Spain?s economy has struggled with very high unemployment rates as a result of the Eurozone banking crisis. The following data show the annual unemployment rate over a nine-year period. These data
I recently discovered a great new tool called Google Finance. Using Google Finance with the Google spreadsheet makes it possible to look up all kinds of data on mutual funds. So, of course I
The volatility of world crude oil prices is important because of its impact on global economic stability. One measure of volatility is the standard deviation. The Excel file world_oil_price.xlsx
Economists theorize that the 2007–2008 recession has affected men more than women because men are typically employed in industries that have been hit hardest by the recession, such as manufacturing
According the Organization for Economic Cooperation and Development (OECD), the weekly hours worked in manufacturing in the United States was 42 hours in 2017. A recent random sample of 60
There is recent speculation that the Super Bowl games, which determine the NFL champion, are becoming more competitive over time. The competitiveness of the game draws much attention from the
The number of pieces of mail delivered by the U.S. Postal Service has been in steady decline since it hit a peak in 2006 with 213.1 billion. Data in the Excel file postal service.xlsx show the number
Answer the following questions using the data from the Excel file S&P 500.xlsx described in Problem 16.51:The S&P 500 reached an all-time high September 27th, 2018, at 2,914. The data in
The S&P 500 reached an all-time high September 27th, 2018, at 2,914. The data in excel file S&P 500 show the end-of-the-month value for the S&P 500 for the last two years.a. Construct a
The Great Smoky Mountain National Park on the border of Tennessee and North Carolina is America’s most popular national park with more than nine million visitors each year. Suppose the National
Answer the following questions using the data from the Excel file Spain unemployment.xlsx from Problem 16.45.a. Construct a graph showing the annual unemployment rate for Spain over time.b. Forecast
Answer the following questions using the data from the Excel file average bonus.xlsx from Problem 16.43.a. Using exponential smoothing with α = 0.5, forecast the average cash bonus for a financial
It looks like Wall Street?s annual cash bonuses are slowly recovering from the 2007?2008 recession. In 2017 the bonuses hit the highest level since before the recession. These data can also be found
Answer the following questions using the data from the Excel file grade inflation by semester.xlsx described in Problem 16.41:a. Forecast the average GPA for each semester during 2018 using a
Newark College (see Problem 16.40) would like to include seasonality in its GPA forecasting model. The average GPA of the study body for each year was broken down into the average GPA by semester
Grade inflation, which is defined as an increase in the average GPA of an institution over time without a corresponding increase in academic performance, is a concern for many colleges. The presence
Answer the following questions using the data from the Excel file Deloitte.xlsx from Problem 16.36.a. Using exponential smoothing with α = 0.6, forecast the percentage of holiday shoppers who intend
Answer the following questions using the data from the Excel file amazon.xlsx described in Problem 16.30:a. Forecast the advertising revenue for each quarter in 2018 using seasonal dummy variables
In March 2018, Amazon passed Alphabet (Google's parent company) to become the world's second most valuable company measured by stock market capitalization. The development of the quarterly revenue by
Recently, fixed mortgage rates have been at historical lows due to the housing slowdown. Data in the Excel file mortgage rates.xlsx show the annual average 30-year fixed mortgage rate for 1994 to
Gold has long been a very popular investment choice during times of economic crisis. This has resulted in a significant increase in the price of gold per ounce in recent years. The Excel file gold
Julie owns 100 shares of Apple stock (lucky her) and is trying to decide how much her portfolio will be worth next month. The data in the Excel file Apple stock price.xlsx show the closing price of a
The size of the audience watching the Super Bowl plays a major role in the price the broadcasting network charges for advertising. To solve this problem, use data from problem 16.8
According to the National Association of Theatre Owners, the average U.S. ticket price has been steadily increasing over the past several years. The following data show the average price during an
Consider the following time series: a. Use statistics software with ? = 0.05 to test this time series for positive auto-correlation. b. Verify your Durbin?Watson statistic using Excel. Period Sales
The following data show the average prices for S&P Case-Shiller U.S. National Home Price Index in the United States over a six-quarter period. a. Forecast the price index for Q3 2018 using a
The Independence School is a private grade school that depends on enrollment forecasting to plan for the upcoming school year. The following data show the enrollments for the past several years.
General Motors (GM) is one of the world?s largest car and truck manufacturers and employs more than 200,000 employees worldwide. In 1970 GM had captured nearly 60% of the U.S. market share. However,
The number of viewers for network television shows has a direct effect on the amount of advertising dollars that will be generated. The following data show the number of viewers, in millions, for the
The IRS is actively encouraging individuals to file their taxes electronically in order to increase accuracy and reduce expenses. The following data show the percentage of tax returns filed
The Consumer Price Index (CPI), which is published by the U.S. Bureau of Labor Statistics, is a measurement that reflects changes in consumer prices over time. The following data show the CPI over a
Instagram has become an essential tool for social marketing. It boasts 400 million monthly active users, 80 million posts each day, and 3.5 billion daily likes. An audience that engaged is hard to
Instagram has become an essential tool for social marketing. It boasts 400 million monthly active users, 80 million posts each day, and 3.5 billion daily likes. An audience that engaged is hard to
I recently discovered a great new tool called Google Finance. Using Google Finance with the Google spreadsheet makes it possible to look up all kinds of data on mutual funds. So, of course I
I recently discovered a great new tool called Google Finance. Using Google Finance with the Google spreadsheet makes it possible to look up all kinds of data on mutual funds. So, of course I
Instagram has become an essential tool for social marketing. It boasts 400 million monthly active users, 80 million posts each day, and 3.5 billion daily likes. An audience that engaged is hard to
The Excel file MLB 2017 Payroll.xlsx contains the total payroll in millions of dollars for each Major League Baseball team at the start of the 2017 season along with the total number of each team’s
According to ESPN, 2018 marked the fourth straight year that the NBA broke its attendance record. Of course, that means the league is more popular overall but it would also be interesting to find out
Answer the following questions using the data from Problem 14.53:a. Using α = 0.05, test the significance of the regression slope.b. Construct a 95% confidence interval for the population slope.c.
Answer the following questions using the data from Problem 14.53:a. Calculate the coefficient of determination.b. Using α = 0.05, test the significance of the population coefficient of
Opinions are split about the Pumpkin Spice Latte (PSL). Yet every year over the last five years the consumption of pumpkin-flavored goods has increased (loseit.com). If we look at the numbers, it
Many of my students over the last couple of years have been earning money as Instagram influencers. The amount of influencers and their popularity has been growing steadily. The top 50 Instagram
The Twin Cities Pioneer Press argued in a 2018 article that wine and cheese were important for world history and the development of human physiology. A researcher was interested in studying if there
EcoSmart is a manufacturer of compact fluorescent light (CFL) bulbs, which are fluorescent bulbs designed to be more efficient than traditional incandescent bulbs. In an effort to produce a
A 2018 paper by the National Bureau for Economic Research (NBER Working Paper No. 24639) showed that heat exposure inhibits cognitive skill development. Using results from 10 million PSAT exams,
A recent poll by the Web page weloveanycar.com asked respondents, ?Would you consider buying a totally electric car with a range of 300 miles to one charge?? The results are shown in the following
To make predictions about financial markets it is important to determine the distributional form of average daily returns. Of course, in practice you should use as much data as possible to make this
Data from the UEFA , Union of European Football Associations, shows that during the 2000, 2004, 2008, 2012, and 2016 knockout stages of the European Championships in soccer a total of 104 penalty
The following table shows the distribution of the ages of Snapchat users in December 2016 (statista.com). The table also shows the observed frequencies from a random sample of Snapchat users for
The following table shows the U.S. market share for smartphone manufacturers in 2017 according to the research firm comScore. The table also shows the frequency of purchases of smartphones by brand
The following table shows the medal count for the top three countries at the 2018 Winter Olympics. a. Using ? = 0.05, perform a chi-square test to determine if the type of medal and country that
The following table shows the U.S. market share for automotive manufacturers in 2013. Also shown is the frequency of car purchases by manufacturer from a random sample of 220 customers in March of
In 1991 the Consumer Bankruptcy Project conducted a study to determine the education levels of people who declare bankruptcy. The percentages are shown in the following table. Also shown in the table
According to a recent AAA survey, about 20% of Americans say they?re likely to buy an electric car in the future. Actually, sales of electric cars increased by 25% between 2016 and 2017. To serve
Suppose you are interested in buying a new smart TV and want to find out about differences in prices, sizes, and manufacturers. The following data show the prices of a random sample of televisions
Happiness Works (https://friday.work), a consulting group dedicated to improving work conditions, recently showed that 18- to 34-year-olds are the happiest workers in the U.S. economy. They showed
According to Forbes, pickled foods are one of the big food trends of 2018. In fact, pickled foods have become so popular that even KFC and food stands in baseball stadiums started to offer pickled
Fitness trackers are nearly ubiquitous these days. I asked three randomly selected students to report heir minutes of physical activity per week for the last several weeks. These data can also be
Many students regularly complain that the cost of college textbooks is constantly increasing. However, the National Association of College Stores released data for 2016 and 2017 for the average
A 2017 survey found that the daily time spent on social media differs by age group. You select random samples of people from each age group to verify the information. The following table lists the
During the 2007–2008 decline in the housing market, it appeared that the average size of a newly constructed house fell. To investigate this trend, the square footages of a random sample of houses
Walmart has an interest in monitoring the average back-to-school spending for grade-school students year to year. Every year the back-to-school spending data is published by the National Retail
A constant question for social media is if it is a profitable business. A key determinant of profit is the average revenue per user (ARPU). Social media platforms like Facebook and Snapchat usually
Small businesses (See Problem 9.63) are viewed by many as the backbone of the U.S. economy. Smallbusiness owners are often described as entrepreneurs, requiring a variety of skills in order to be
Small businesses are viewed by many as the backbone of the U.S. economy. Small-business owners are often described as entrepreneurs, requiring a variety of skills in order to be successful. According
According to the U.S. Department of Labor, 10.7% of the U.S. workforce was unionized in 2017. This percentage has declined steadily since the end of World War II, when more than a third of U.S.
The average wait time on the phone for taxpayers calling the IRS in 2015 was 1,380 seconds. Suppose (if you can use your imagination) that the IRS made operational changes in an effort to reduce wait
During 2016, the average monthly bill for digital cable in the United States was $103 according to research firm Centris. Suppose Comcast would like to test the hypothesis that the average monthly
According to Pew Research Center’s data from 2016, 7% of Americans are classified as “super users” of shared and on-demand services, such as ordering groceries online, contributing to online
According to the 2017 Survey of Physician Appointment Wait Time, patients had to wait an average of 24 days to schedule a new appointment with a doctor. A random sample of 40 patients in 2018 was
The amount of text messages sent in the United States has been steadily declining since its peak in 2011 with 2,304 billion messages sent per year, which is about 960 text messages per month per cell
According to Pew Research Center surveys, 8% of American adults did not own a cell phone in 2015. Suppose Verizon Wireless would like to test if this percentage has recently changed. A recent random
According to 2016 data from the U.S. Census Bureau, only 32% of Americans are saving for retirement in a 401(k). A random sample of 340 Americans was recently selected, and it was found that 119 of
Smart meters are a special type of electrical meter that monitors the usage of electricity and communicates that information back to the utility company. According to a report by the Energy
According to Fidelity Investments, the average 401(k) account balance was $99,900 in 2017. To test if this average has recently changed, suppose a sample of 30 401(k) plans was recently selected, and
In May 2018, the Web site NBAstuffer.com reported that 18 of the 30 NBA teams have 3 or more employees whose sole responsibility is to analyze data. The information compiled by these “statheads”
A 2015 survey by the American Marketing Association showed that 47% of Snapchat users are between 18 and 24 years old. Suppose a follow-up survey were recently conducted to investigate if the
According to the Glassdoor.com, each job opening on average attracted 250 résumés in 2016. You know that the job market improved in 2017 compared to 2016, which means that more people will likely
A Gallup poll from 2016 showed that the share of Americans who are “extremely proud” to be American has been steadily decreasing since 2000 to 52% in 2016. Suppose the White House staff is
According to a 2016 report by Fannie Mae, 39% of 18-to 20-year-old students use credit cards for everyday purchases. Suppose a local bank believes that this share will increase over time because of
According to statista.com, the average room rate for a New York City hotel in 2016 was $337. Suppose the Chamber of Commerce of New York City would like to test if this rate has changed recently by
According to Pew Research, 21% of people who use online dating services are 35 to 44 years old. There is also information that this percentage has steadily increased over the previous years. Assume
The average retirement age for French citizens between 2011 and 2016 was reported to be 59.7 years according to the Organization for Economic Cooperation and Development, an international group
The number of long-term unemployed, defined as those out of work for more than 27 weeks, has been a detriment to the recent economic recovery. At its peak after the most recent recession, that rate
The Majoring in Money study by Sallie Mae from December 2015 showed that most college students manage their credit cards in a reasonable way. It showed that almost two-thirds of students pay their
A recent survey by Statistic Brain showed that 64% of users of online dating sites say the number one thing they’re looking for in a date or partner is common interests. Suppose you would like to
Consumers with credit scores below 600 have a very difficult time getting approved for car or mortgage loans. In 2017, 30% of Americans had a credit score below 600. The Federal Reserve Bank of New
An increased number of U.S. colleges have been using online resources such as Facebook and Google to research applicants. According to Kaplan Test Prep, 35% of admissions officers indicated that they

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