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Questions and Answers of
Business Statistics
Based on all student records at Camford University, students spend an average of 5.5 hours per week playing organized sports. The population’s standard deviation is 2.2 hours per week. Based on a
Refer to the Baseball 2016 data, which report information on the 30 Major League Baseball teams for the 2016 season.a. The mean attendance per team for the season was 2.439 million, with a standard
Refer to the North Valley Real Estate data, which report information on homes sold during the last year.a. The mean selling price (in $ thousands) of the homes was computed earlier to be $357.0, with
Recently the United States Department of Agriculture issued a report (http://www.cnpp.usda.gov/sites/default/file/CostofFoodMar2015.pdf) indicating a family of four spent an average of about $890 per
For the most recent year available, the mean annual cost to attend a private university in the United States was $42,224. Assume the distribution of annual costs follows the normal probability
Among the thirty largest U.S. cities, the mean one-way commute time to work is 25.8 minutes. The longest one-way travel time is in New York City, where the mean time is 39.7 minutes. Assume the
Refer to the Baseball 2016 data. Compute the mean number of home runs per game. To do this, first find the mean number of home runs per team for 2016. Next, divide this value by 162 (a season
It is reported that 41% of American households use a cell phone exclusively for their telephone service. In a sample of eight households:a. Find the probability that no household uses a cell phone as
Levinson’s Department Store is having a special sale this weekend. Customers charging purchases of more than $50 to their store credit card will be given a special Levinson’s Lottery card. The
The director of admissions at Kinzua University in Nova Scotia estimated the distribution of student admissions for the fall semester on the basis of past experience. What is the expected number of
Refer to the Lincolnville school bus data. Set up a variable that divides the age of the buses into three groups: new (less than 5 years old), medium (at least 5 but less than 10 years), and old (10
Refer to the Baseball 2016 data, which reports information on the 30 Major League Baseball teams for the 2016 season. Set up three variables:• Divide the teams into two groups, those that had a
DJ LeMahieu of the Colorado Rockies had the highest batting average in the 2016 Major League Baseball season. His average was .348. So assume the probability of getting a hit is .348 for each time he
Refer to the following table.a. Determine P(A1).b. Determine P(B1 | A2).c. Determine P(B2 and A3). First Event Second Event B, в, Total A, A2 A, 3 2 3 3 4 10 Total
Bank of America customers select their own four-digit personal identification number (PIN) for use at ATMs.a. Think of this as an experiment and list four possible outcomes.b. What is the probability
Refer to the Lincolnville School District bus data.a. Referring to the maintenance cost variable, develop a box plot. What are the minimum, first quartile, median, third quartile, and maximum values?
Listed below are the salaries for the 2016 New York Yankees Major League Baseball team.a. Determine the mean, median, and the standard deviation.b. Determine the coefficient of skewness using
In a study of the gasoline mileage of model year 2017 automobiles, the mean miles per gallon was 27.5 and the median was 26.8. The smallest value in the study was 12.70 miles per gallon, and the
Determine the median and the first and third quartiles in the following data. 6.67 10.39 7.30 11.86 7.99 8.03 13.07 8.81 13.89 5.24 6.02 8.35 13.59 9.45 15.42 7.59 12.22 10.37 9.61 12.71
Determine the median and the first and third quartiles in the following data. 46 47 49 51 53 54 54 55 49 55 59 LO
The following chart reports the number of cell phones sold at a big-box retail store for the last 26 days.a. What are the maximum and the minimum numbers of cell phones sold in a day?b. What is a
When are dot plots most useful?
Refer to the Baseball 2016 data, which report information on the 30 Major League Baseball teams for the 2016 season. Refer to the variable team salary. Prepare a report on the team salaries. Be sure
Refer to the North Valley Real Estate data and prepare a report on the sales prices of the homes. Be sure to answer the following questions in your report.a. Around what values of price do the data
The Kentucky Derby is held the first Saturday in May at Churchill Downs in Louisville, Kentucky. The racetrack is one and one-quarter miles. The following table shows the winners since 1990, their
In June, an investor purchased 300 shares of Oracle (an information technology company) stock at $41 per share. In August, she purchased an additional 400 shares at $39 per share. In November, she
Sally Reynolds sells real estate along the coastal area of Northern California. Below are her total annual commissions between 2007 and 2017. Find the mean, median, and mode of the commissions she
A Human Resources manager at Metal Technologies studied the overtime hours of welders. A sample of 15 welders showed the following number of overtime hours worked last month.(a) Compute the
Refer to the Lincolnville School District bus data. Select the variable referring to the number of miles traveled since the last maintenance, and then organize these data into a frequency
In the United States, the industrial revolution of the early 20th century changed farming by making it more efficient. For example, in 1910, U.S. farms used 24.2 million horses and mules and only
In 2016, the United States exported a total of $266 billion worth of products to Canada. The five largest categories were:Product
A data set consists of 83 observations. How many classes would you recommend for a frequency distribution?
In a marketing study, 100 consumers were asked to select the best digital music player from the iPod Touch, Sony Walkman, and Zune HD. To summarize the consumer responses with a frequency table, how
The following chart depicts the earnings in billions of dollars for ExxonMobil for the period 2005 until 2016. Write a brief report discussing the earnings at ExxonMobil during the period. Was one
The Wall Street Journals website, www.wsj.com, reported the total number of cars and light-duty trucks sold through February of 2016 and February of 2017. The top 16 of 29 manufacturers
Place these variables in the following classification tables. For each table, summarize your observations and evaluate if the results are generally true. For example, salary is reported as a
Calculate a standardized effect size, Cohen’s d, for the data given in Exercise 3. Interpret this effect size using Cohen’s guidelines which are provided in your textbook.Data from exercise
Researchers carried out an investigation on the effects of the authors gender and the raters gender on the perceived quality of the article. Authors gender had
In Exercise 5, arm circumference of a sample of females was predicted from waist measurement. In the scatterplot shown below, arm circumference of the same females is predicted from their body mass
The MSerrorfor the analysis is 0.1856. The means are shown below. Use this information to answer the questions in this exercise.1. Using Table G in your textbook, identify q for a significance level
The completed ANOVA summary table for Exercise 2 is shown below.1. Using Table C in your textbook, identify the critical F value for a significance level of .05. 2. Present a statistical
Analyze the data in Exercise 1 using a repeated measures ANOVA and summarize the results in an ANOVA table. The df column is already completed for you.Data from exercise 1Researchers were interested
Sociologists Christine Whelan and Christie Boxer conducted a survey in 2008 to find out what attracts a man to his future wife. On the survey, the respondents ranked traits of a potential spouse. The
Using the results of Exercise 3 and Exercise 8, write a statement reporting the outcome as it might appear in a published article.Data from exercise 8Calculate a standardized effect size, Cohen’s
The variance of the parent population is equal to 5 and the standard deviation is 5 ÷ 2.2361.a. Calculate the standard error of the mean for the problem presented in Exercise 1.b. What is the symbol
Which of the following probability tests would be good candidates for the application of the Multiplication Rule?The probability that …a. A flipped coin will be heads or tails.b. Incidences of
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.Difference of two population
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.Difference of two sample means(a)
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.Mean of data in omitted
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.Residual(a) b0(b) µ1 = µ2 = g =
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.Fitted value(a) b0(b) µ1 = µ2 =
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.Observed response(a) b0(b) µ1 =
The intercept and slope of Years in the regression of Salary on Years, Group, and the Years * Group interaction (Table 25.5) match the intercept and slope in the simple regression for female managers
The multiple regression of Salary on Years, Group, and the Years * Group interaction (Table 25.5) reproduces the fits of the two simple regressions of Salary on Years for male and female managers.
Match each definition on the left with a mathematical expression or term on the right.Name given to the variable that specifies the treatments in an experiment(a) t = -4.6(b) t = 1.3(c) µ1
Match each definition on the left with a mathematical expression or term on the right.Difference between the averages in two populations(a) t = -4.6(b) t = 1.3(c) µ1
Match the description of each concept with the correct symbol or term.Maximum tolerance for incorrectly rejecting H0(a) t-statistic(b) µ0(c) p-value(d) p-value < α(e) Type I error(f)
Match the description of each concept with the correct symbol or term.One-sided null hypothesis(a) t-statistic(b) µ0(c) p-value(d) p-value < α(e) Type I error(f) z-statistic(g) Type II error(h)
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.Null hypothesis of F-test(a) b0(b)
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.F-statistic(a) b0(b) µ1 = µ2 = g
Match each term from an ANOVA regression on the left to its symbol on the right. These exercises use the abbreviations SS for sum of squares and MS for mean squares.R2 in disguise(a) b0(b) µ1 = µ2
The intercept in a regression of Y on a dummy variable X is the difference between the mean of Y for observations with x = 0 and the mean of Y for observations with x = 1.Mark each statement True or
Suppose that the subjects in an experiment are reused. For example, each person in a taste test samples every product. Are these data suitable for a one-way ANOVA?
As part of the study underlying Example 26.1, each customer took a test that measures willingness to believe claims, producing a numerical score called Gullible. If the customers had not been
Investors are often tempted by rumors of calendar effects on financial markets. After all, the crashes in 1929 and 1987 both came in October. Maybe it is better to avoid the stock market in October.
Match each definition on the left with its mathematical expression on the right.Change in the value of the response(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2 + β3
Match each definition on the left with its mathematical expression on the right.Value of the response in the previous time period(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2
Match each definition on the left with its mathematical expression on the right.Values averaged in a five-term moving average(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2
Match each definition on the left with its mathematical expression on the right.Exponentially weighted moving average(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2 + β3
Match each definition on the left with its mathematical expression on the right.Equation of a model that fits a linear trend(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2
Match each definition on the left with its mathematical expression on the right.Equation of a fourth-degree polynomial model(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2
Match each definition on the left with its mathematical expression on the right.Equation of a first-order autoregression(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2 +
Match each definition on the left with its mathematical expression on the right.Equation of an AR(3) model(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2 + β3 Yt-3(d) Yt -
Match each definition on the left with its mathematical expression on the right.Alternative equation for the Durbin-Watson statistic(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 +
Match each definition on the left with its mathematical expression on the right.Autocorrelation of adjacent residuals(a) Y10, Y11, Y12, Y13, Y14(b) b0 + b1 t(c) b0 + β1 Yt-1 + β 2 Yt-2 + β3
Unemployment The data for this exercise are the raw and seasonally adjusted civilian unemployment rate in the United States, monthly from January 1948 through March 2016.(a) Compare the time series
Arctic Ice These data give the extent of area covered by ice in arctic regions near the North Pole from September 1979 to 2015. The reduction in the amount of arctic ice is related to global climate
Mobile Africa These data give the annual number of mobile phone subscribers in sub-Saharan Africa in 2000–2015.(a) Fit a polynomial trend model to the number of phone subscribers. Use the variable
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Unique variance in X2(a) t-statistic for b1(b) 1 - R2(c) s2x2(d) VIF(X1)(e) 1(f)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Variance in X2(a) t-statistic for b1(b) 1 - R2(c) s2x2(d) VIF(X1)(e) 1(f)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Test whether adding X1 improves fit of model(a) t-statistic for b1(b) 1 - R2(c)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Percentage of variation in residuals(a) t-statistic for b1(b) 1 - R2(c) s2x2(d)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Scatterplots among variables(a) t-statistic for b1(b) 1 - R2(c) s2x2(d)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Correlations among variables(a) t-statistic for b1(b) 1 - R2(c) s2x2(d)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Effect of collinearity on se(b1)(a) t-statistic for b1(b) 1 - R2(c) s2x2(d)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Regression estimate without VIF(a) t-statistic for b1(b) 1 - R2(c) s2x2(d)
Match each task or property of a regression model in the left-hand column with an expression in the right-hand column.Minimum value of VIF(a) t-statistic for b1(b) 1 - R2(c) s2x2(d) VIF(X1)(e) 1(f)
Weather News broadcasts use weather forecasts to attract viewers to their station. These data give the observed daily high temperature for 137 consecutive days in Philadelphia along with the
The following correlation matrix and the scatterplot matrix shown below summarize the same data, only we scrambled the order of the variables in the two views. If the labels X, Y, Z, and T are as
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Test H0: β2 = 0(a) Similar variances(b) F-statistic(c) Collinearity(d)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Test H0: β1 = β2 = 0(a) Similar variances(b) F-statistic(c)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Normal quantile plot(a) Similar variances(b) F-statistic(c)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Scatterplot of e on Ŷ(a) Similar variances(b) F-statistic(c)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Scatterplot of Y on Ŷ(a) Similar variances(b) F-statistic(c)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Indirect effect of X2(a) Similar variances(b) F-statistic(c)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Direct effect of X2(a) Similar variances(b) F-statistic(c) Collinearity(d)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Scatterplot of X2 on X1(a) Similar variances(b) F-statistic(c)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Scatterplot of Y on X2(a) Similar variances(b) F-statistic(c)
Match the item in the first column with the concept that can be observed, test statistic, or estimate from the second column.Scatterplot of Y on X1(a) Similar variances(b) F-statistic(c)
Television news programs attempt to attract viewers in local markets by claiming to offer the “best” local weather forecasts. The particular station in this exercise claims to offer more accurate
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