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business statistics

Questions and Answers of Business Statistics

Octopus Travel studied the types of work-related activity that Australians do while on holiday. Among other things, 20% take their work with them on holiday. Fifteen per cent negotiate new deals or
An external agency measures the number of listeners of radio stations in a number of different regions. For one particular region in which there are 20 radio stations, it claims that listeners are
A study of tweeting behaviour revealed that, among 36- to 45-year-olds, the number one tweeted topic relates to family, with 28% making some reference to it among those tweets that could be
A government department investigating the issues of tax avoidance and evasion determines that the following outcomes have occurred in a random sample of 400 cases. (a) What is the probability that
Use the values in the following contingency table to solve the equations given. (a) P(A) = __________ (b) P(Z) = __________ (c) P(A ? X) = __________ (d) P(B ? Z) = __________ (e) P(A ? C) =
Convert the following contingency table to a probability matrix to solve the equations given. (a) P(A) = __________(b) P(E) = __________(c) P(A ? E) = __________(d) P(A = E) = __________ 16 в 10 2.
A company is wondering whether a consumer?s preferred brand, among its own and competing brands, is related to the age of the consumer. The company conducts a survey of 2000 consumers, asking
According to the ABS, 73% of women aged 25 to 54 participate in the labour force. Suppose that 78% of women aged 25 to 54 are married or partnered. Suppose also that 61% of all women aged 25 to 54
Given P(A) = 0.40, P(B) = 0.25, P(C) = 0.35, P(B | A) = 0.25 and P(A | C) = 0.80, solve the following.(a) P(A ∩ B) = __________(b) P(A ∩ C) = __________(c) If A and B are independent, P(A ∩ B)
A local GP is concerned that the other doctors in the general practice where she works provide a proportionally higher number of short consultations. A random sample of 200 consultations is extracted
The operations manager of a cinema complex is interested in how patrons using the candy bar purchase food and drinks in various combinations. In particular, the manager wants to know the probability
Given P(A) = 0.10, P(B) = 0.12, P(C) = 0.21, P(A ∩ C) = 0.05 and P(B ∩ C) = 0.03, solve the following equations.(a) P(A ∪ C) = __________(b) P(B ∪ C) = __________(c) If A and B are mutually
Use the values in the following matrix to solve the equations given. (a) P(A ? D) = ?__________(b) P(E ? B) = ?__________(c) P(D ? E) = ?__________(d) P(C ? F) = ?__________ A 12 10 6 8. 2.
According to a recent survey, 40% of millennials (those born in the 1980s or 1990s) view themselves more as ‘spenders’ than ‘savers’. The survey also reveals that 75% of millennials view
According to a consumer report, approximately 3% of New Zealanders bought a new vehicle in the past 12 months. The report also indicates that 10% commenced a new job in the same period. The report
A hardware store determines that 70% of its customers do not use the self-checkout system to make their purchases. It also determines that 80% of its customers pay by credit card. Among those using
The Australian Census of Population and Housing asks every household to report information on each person living in the house. Suppose that, for a sample of 30 households, the number of persons
Determine the mode, median and mean of the following data. 16 9 20 8 17 10 8 2 16 16 19 19 10 4 18
The Australian Census of Population and Housing asks for each resident?s age. Suppose that a sample of 40 households taken from the census data shows the age of the first person recorded on the
The owner of a new Indian restaurant is wondering how its prices compare with others in the local area. Use the following price information on a sample of 16 rogan josh main dishes to write a short
A fitness consultant working with a leading rugby league team measures the height of a sample of 100 male players. The output is broken down by position in terms of summary measures associated with a
Financial analysts like to use the standard deviation as a measure of risk for a stock. The greater the deviation in a stock price over time, the more risky it is to invest in the stock. However, the
Compute the 20th percentile, the 60th percentile, Q1, Q2 and Q3 for the following data. 280 204 820 445 298 320 918 470 964 849 356 450 146 957 800 786
Compute P35, P65, P90, Q1, Q2 and Q3 for the following data. 18 13 29 41 23 29 27 30 11 42 23
A hairdresser franchisor is concerned about the time taken by staff to complete a standard haircut for male customers at one of its newly opened stores. She decides to visit the store and record the
A dataset contains the following seven values. (a) Calculate the range.(b) Calculate the population variance.(c) Calculate the population standard deviation.(d) Calculate the interquartile
The CEO of Combaro would like to know whether employees are satisfied in their positions. In particular, the CEO would like to know about the central tendency of the data and whether they are skewed
The following scatterplot examines the potential association between years of education and weekly salary. The data was obtained from the Combaro dataset on the student website (Combaro.xls). Write
The size in square metres of properties sold by a major real estate firm in Australia in the last year was analysed using descriptive summary measures. The mean size of a one-bedroom residential
A wine industry association reports in its e-newsletter that a particular fine wine is being marketed by online wine distributors with an average market price of $125 per bottle and standard
A car fleet manager working for a local council is thinking of gradually replacing the current fleet of vehicles used by the council with vehicles that use LPG (gas) rather than petrol. The concern
Use the values in the contingency table to solve the equations given. (a) P(F) = ___________(b) P(B ? F) = ___________(c) P(D ? F) = ___________(d) P(B | F) = ___________(e) P(A ? B) =
Suppose Event A occurs 1050 times, Event B occurs 720 times, Event C occurs 120 times and Event D occurs 1110 times. Calculate the relative frequency of each event and report the probabilities of
An online retailer that sells board games and puzzles has produced summary measures, shown in the right-hand column, describing the cost charged to consumers for shipping. Write a short description
A survey of drivers asked respondents to list the age in years of the vehicle that they usually drive. The following data represent a sample of 18 responses provided. Use these data to construct a
A hire car company is interested in summary statistics that are useful in describing travel times between the CBD and the domestic terminal at Sydney Airport. The company locates a report that
According to the Australian Taxation Office, the average taxable income in an affluent suburb of Sydney is $94720. Suppose the median taxable income in this suburb is $90050 and the mode is $89200.
An NRMA report states that the average age of a car in Australia is 10.5 years. Suppose the distribution of ages of cars on Australian roads is approximately bell-shaped. If the standard deviation is
How useful do you think the ability to zoom in on multiple linked graphics is for data analysis? Is it a powerful tool for exploring data and understanding relationships, or is it overcomplicated?
Do you agree with the quote ‘A picture is worth a thousand words. An interface is worth a thousand pictures.’ Why? Why not?
What distinguishes an interactive visualisation from a static visualisation?
What is rescaling?
How does a scatterplot matrix differ from a basic scatterplot?
What is the advantage of using multiple panels in a visualisation?
What visualisation features can be used to represent:(a) categorical information(b) numerical information(c) temporal information?
What is ‘chart junk’? Why do you think it arises?
Describe the advantages of multidimensional visualisation over univariate visualisation.
The following data are monthly downloads (megabytes) on handheld devices. Construct a stemand- leaf plot of the data using the whole part for the stem and the decimal part for the leaf. What does
A researcher wants to determine if the number of international students studying in New Zealand and the number of visitors from their corresponding countries are related. Data on these variables for
Sometimes when we create a stem-and-leaf plot, we get too many leaves per stem to give a good representation of the data. In such a case, we can further split the data space for each stem equally.
The Bureau of Infrastructure, Transport and Regional Economics publishes transport statistics. The table below shows the number of sectors flown by each domestic airline. Construct a pie chart for
The table below shows Department of Foreign Affairs and Trade data for the value (in A$ million) for the top 10 import sources of goods into Australia. Produce a bar chart for these data. On the
The table below shows the weekly expenses for a family of four. Construct a pie chart displaying his information.Item Expense .....................................................................
The table below shows Department of Foreign Affairs and Trade data for the value (in A$ million) of Australian exports to the top 10 buyers of Australian goods. Construct a pie chart to represent
The following figures are type and corresponding proportion of expense required to create a new processed food product, ready to introduce to the market. Produce a pie chart and a Pareto chart for
In a medium-sized New Zealand city, 90 houses are for sale, each with about 180 m2 of floor space. The asking prices vary. The frequency distribution shown contains the price categories for the 90
A company manufactures a metal ring, which usually weighs about 1.4 kg, for industrial engines. A random sample of 50 of these metal rings produced the following weights (in kg). Construct a
Data were collected on the number of passengers at each train station in Melbourne. The numbers for the weekday peak time, 7 am to 9:29 am, is given below. Construct a frequency distribution for
The following data are the average monthly after tax salary in 2020 for 162 countries. ? a.?Construct a frequency distribution for the data using five class ? ? intervals. b.?Construct a frequency
For the following data, construct a frequency distribution table with six classes. 42 42 78 56 36 40 114 52 46 102 86 70 36 58 46 72 58 56 94 58 36 104 92 100 82 84 62 112 92 66
Define machine learning in the context of data mining.
Compile a list of every piece of data you have provided to business organisations over the past 24 hours (choose a shorter or longer time if necessary). Do you think these data are valuable to those
Cricket Australia wants to run a marketing campaign to increase attendance at test matches. You have been hired as a consultant to conduct a survey and prepare a report on your findings.(a) What
Classify each of the following as nominal, ordinal, discrete or continuous data.(a) The RBA interest rate(b) The return from government bonds(c) The customer satisfaction ranking in a survey of a
For each of the following companies, give examples of data that could be gathered and what purpose these data would serve: Bluescope Steel, AAMI, Jetstar, IKEA, Telstra, ANZ Bank, Sydney City
Differentiate between data and information.
After a losing season, there is a great uproar to fire the head basketball coach. In a random sample of 200 college students, 80 favour keeping the coach. Test at the 0.05 level of significance
A company is researching the effectiveness of a new design to decrease the time to access a website. Ten website users were randomly selected?five accessed websites using the old web design, and the
What is the critical F-value for a sample of six observations in the numerator and four in the denominator? Use a two-tailed test and the 0.10 significance level.
A real estate agent in Northern Ontario wants to compare the variation in the selling price of homes on waterfronts with those one to three blocks from the water. A sample of 21 waterfront homes sold
A physician who specializes in weight control has three different diets she recommends. As an experiment, she randomly selected 15 patients and then assigned 5 to each diet. After three months the
Jack Wolicki is a production supervisor in an industrial manufacturing company. He would like to determine whether there is more variation in the number of units produced on the afternoon shift than
There are four auto body shops in Shell River, Manitoba, all of which claim to serve customers promptly. To check if there is any difference in service, customers are randomly selected from each
The Simone Company is considering a new computer program to speed up the processing of its inventory. Two programs are being considered: Program A and Program B. To test the programs, 23 employees
The Sally Coffee Shop is considering closing one hour earlier in the evening through the week. Sally obtained the following data from a study taken last week of the number of customers between the
The following sample observations were randomly selected: a.?Draw a scatter diagram.b.?Determine the regression equation.c. Determine the value of y? when x is 7. x: 3 4 15 12 y: 13 13 11
The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors last year: a. If we
Refer to Exercise 1.a.?Determine the standard error of estimate.b. Suppose a large sample is selected (instead of just five). About 68% of the predictions would be between what two values? Exercise
Refer to Exercise 2.a.?Determine the standard error of estimate.b. Suppose a large sample is selected (instead of just eight). About 95% of the predictions would be between what two
Refer to Exercise 8. Determine the standard error of estimate. Exercise 8 The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a
Refer to Exercise 1.a.?Determine the 95% confidence interval for the mean predicted when?x?=?7.b.?Determine the 95% prediction interval for an individual predicted when?x?=?7. Exercise 1. The Sally
Refer to Exercise 2.a.?Determine the 95% confidence interval for the mean predicted when?x?=?7.b.?Determine the 95% prediction interval for an individual predicted when?x?=?7. ?Exercise 2 The
The Sally Coffee Shop is considering closing one hour earlier in the evening through the week. Sally obtained the following data from a study taken last week of the number of customers between the
Bi-lo Appliance Super Store has outlets in several large Canadian cities. The general sales manager plans to air a commercial for a digital camera on selected TV stations prior to a sale starting on
Using the preceding problem, involving years on the job and weekly production, verify that the coefficient of determination is, in fact, 0.80.Coefficient of correlation r = 0.8944, found by
The number of shares of Icom Inc. turned over during a month and the prices at the end of the month are listed in the following table. Also, the y? values on the line going through observed data are
According to basic economics, as the demand for a product increases, the price will decrease. Listed below is the number of units demanded and the
A Canadian Automobile Association (CAA) study of 12 automobiles revealed a correlation of 0.47 between the engine size and performance. At the 0.01 significance level, can we conclude that there is a
A sample of 30 used cars sold by Northcut Motors in 2009 revealed that the correlation between the selling price and the number of kilometres driven was -0.45. At the 0.05 significance level, can we
A sample of 15 financial executives in the pharmaceutical industry revealed the correlation between the amount of fat (in grams) an executive consumed the previous day and that executive’s
Dr. Raymond Lim wants to investigate the relationship between stress and job satisfaction. To begin, he developed a profile for stress based on assigning points for significant events, such as the
The following output shows the relationship between units sold and price: a.?Does the number of units sold seem to increase as the price increases?b.?How much of the variation in the units sold is
The following output shows the relationship between the number of hours studied and the final grade in a statistics course: a.?Does the final grade seem to increase as the number of hours studied
What is the relationship between the amount spent per week on food and the size of the family? Do larger families spend more on food? A sample of 10 families revealed the following figures for family
A sample of 12 condominiums sold last week is given below. Can we conclude that as the number of bedrooms increases, the selling price (reported in $ thousands) also increases? a.?Compute the
An ANOVA table is given: a.?Complete the ANOVA table.b.?How large was the sample?c.?Determine the standard error of estimate.d. Determine the coefficient of determination. SOURCE MS DF SS Regression
The chief of security for a shopping mall in Calgary, Alberta, was directed to study the problem of missing goods. He selected a sample of 100 boxes that had been tampered with and ascertained that
In the early 2000s, the Deep Down Mining Company implemented new safety guidelines. Prior to these new guidelines, management expected there to be 0 accidents in 40% of the months, 1 accident in 30%
A recent study by a large retailer designed to determine whether there was a relationship between the importance a store manager placed on advertising and the size of the store revealed the following
Two hundred managers from various levels were randomly selected and interviewed regarding their concern about environmental issues. The response of each person was tallied into one of three

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