Questions and Answers of Introduction to business statistics

For the period 1990€“1999, the Bristol-Myers Squibb Company, Inc. reported the following amounts (in billions of dollars) for (1) Net sales and (2) Advertising and product
The following stem-and-leaf output has been generated by Minitab. The data consist of three-digit integers.a. From this display, is it possible to determine the exact values in the original data? If
During 2001, sales of new, privately owned homes in the total United States and in the western states were broken down into price categories as follows:Convert these data to relative frequency
In 2004, unemployment rates in the 50 U.S. states were reported as follows. These data are also provided in the file XR02058.a. Construct a stem-and-leaf display for these data.b. Construct a
The average daily cost to community hospitals for patient stays during 1993 for each of the 50 U.S. states was as follows:These data are also provided in the file XR02057. SOURCE: Health Insurance
The breakdown of U.S. cities having a population of at least 10,000 persons has been reported as follows.a. How many cities have a population of at least 25,000 but less than 500,000?b. How many
The following data represent x = the total number of businesses and y = the number of business failures in mountain states over a 1-year period.a. Draw a scatter diagram representing these data.b.
PC World reports the following text and graphics speeds (pages per minute, or ppm) for its top-rated inkjet printers.a. Draw a scatter diagram representing these data. b. Using the
When there is no relationship between two variables, what will tend to be the slope of the best-fit straight line through the scatter diagram?
Differentiate between a positive linear relationship and a negative linear relationship between variables.
Federal outlays for national defense totaled $348 billion in 2002 compared with just $134 billion in 1980.a. Using appropriate symbols that would reflect favorably on such an increase, construct a
It has been estimated that 95.5% of U.S. households own a telephone and that 68.5% have cable television.a. Why can’t this information be summarized in one pie chart?b. Construct two separate pie
For the period 1995€“2005, McDonald€™s Corporation paid the following dividends (rounded to nearest penny) per share of common stock.Using these data and the data in Exercise
For McDonald€™s Corporation, net income per share of common stock was as follows for the period 1995€“2005.Construct a line graph describing these data over time. 1995 $0.97
The following U.S. market shares for automobile and light-truck sales for 2001 and 2002 have been reported.a. Express the data for the 2001 model year in the formof a bar chart.b. Express the data
Construct a stem-and-leaf display for the following data: 22 28 28 29 32 46 46 46 52 52 53 53 54 56 57 57 59 60 61 61 63 41 11 24 33 41 13 24 33 37 39 17 24 19 26 19 42 24 30 30 57 59 43 43 48 49
Construct a stem-and-leaf display for the following data: 34 25 46 75 15 81 69 72 15 19 64 67 62 24 57 27 48 35 41 64 51 48 42 77 71 38 20 26 83 21
One of the ways Keynote Systems, Inc., measures Internet shopping site performance is by visiting a site and measuring how long it takes to come up on the user’s PC. In one such study, they found
For commercial banks in each state, the U.S. Federal Deposit Insurance Corporation has listed their total deposits (billions of dollars) as follows.Construct a frequency distribution and a histogram
What is meant by the statement that the set of classes in a frequency distribution must be mutually exclusive and exhaustive?
The National Center for Health Statistics reports the following age breakdown of deaths in the United States during 2002.Age (Years)
The National Safety Council reports the following age breakdown for licensed drivers in the United States.Age (Years)
Generally, how do we go about deciding how many classes to use in a frequency distribution?
For each of the following, indicate the scale of measurement that best describes the information. a. In January 2003, Dell Corporation had approximately 39,100 employees.b. USA Today reports
A research firm observes that men are twice as likely as women to watch the Super Bowl on television. Does this information represent descriptive statistics or inferential statistics? Why?
The headline of an article in your daily newspaper begins “Research Study Reveals. . . .” As a statistics student who wishes to avoid accepting biased results, what single question should be
What kinds of statistical data might a burglar alarm company employ in trying to convince urban homeowners to purchase its product?
Restaurants sometimes provide “customer reaction” cards so that customers can evaluate their dining experience at the establishment. What kinds of decisions might be made on the basis of this
What is the difference between a qualitative variable and a quantitative variable? When would each be appropriate?
An article in Runner’s World magazine described a study that compared the cardiovascular responses of 20 adult subjects for exercises on a treadmill, on a mini trampoline, and jogging in place on a
In 2002, the Cinergy Corporation sold 35,615 million cubic feet of gas to residential customers, an increase of 1.1% over the previous year. Does this information represent descriptive statistics or
In what ways can business statistics be useful in today’s business environment?
What was the primary use of statistics in ancient times?

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