Statistics For Management And Economics 11th Edition Gerald Keller - Solutions

How does age (AGE) affect respondents’ television viewing (TVHOURS)? Conduct a statistical analysis to determine whether the two variables are related and the average marginal increase in television viewing for each additional year of age.
We would expect that people with more education would postpone having children. To examine the relationship between years of education (EDUC) and the age at which one’s first child is born (AGEKDBRN), perform a statistical analysis that answers the following questions.a. How strong is the linear
Do more educated (EDUC) Americans watch less television (TVHOURS)?a. To answer this question calculate a statistic that measures the strength of the linear relationship.b. Calculate the average marginal decrease in the hours of television viewing for each additional year of education.
A Gallup survey asked a sample of Americans how much confidence they had in the criminal justice system. After recording the responses as well as the race of the respondent, the following table of joint probabilities was created.a. Calculate the probability that a white person had some confidence
The survey measured total household assets (ASSET) and total net worth of household (NETWORTH). Use a statistical technique to show that they should have just measured one of the two variables.
Investigate the relationship between total household income (INCOME) and total value of household assets (ASSET). Conduct a statistical analysis to measure how well the two variables correlate. Estimate the average marginal increase in assets for each additional dollar of income.
a. What is the probability that a customer does not use a credit card?b. What is the probability that a customer pays in cash or with a credit card?
Refer to Exercises 6.13 and 6.14. Find the probability of each of the following events.a. The adult is single.b. The adult is not divorcedc. The adult is either widowed or divorced.
There are 62 million Americans who speak a language other than English at home. The languages are Spanish, Chinese Tagalog (Philippines language), Vietnamese, French, Korean, and others.Suppose that one of these individuals is selected at random. Use set notation to list the sample space.
Refer to Exercise 6.16. The numbers (in millions) of Americans speaking non-English languages at home are listed next. If one individual is selected at random find the probability of the following events.a. Individual speaks Spanish.b. Individual speaks a language other than Spanishc.
Uber, the ride-sharing service has been encountering protests mostly from taxi drivers. The taxi industry claims that Uber is more dangerous than other taxis because of the lack of government scrutiny. A survey was conducted where people were asked, “In your opinion how safe is Uber?” The
Refer to Exercise 6.18. The results of the survey are listed next.How Safe is Uber?........................................... Responses (%)Very safe.....................................................................17Somewhat safe..........................................................
Refer to Exercise 6.28.a. Compute P(A1 or A2).b. Compute P(A2 or B2).c. Compute P(A3 or B1).In exercise 6.28Suppose we have the following joint probabilities. A, B, B2 Az A2 .20 .25 .10 .05 .15 25
Many critics of television claim that there is too much violence and that it has a negative effect on society. There may also be a negative effect on advertisers. To examine this issue, researchers developed two versions of a cops-and-robbers made-for-television movie. One version depicted several
There are no universally accepted definitions of the ages of Millennials and Generation Xers; the consensus is that the former are Americans born between 1984 and 2000 and the latter are Americans born between 1965 and 1984. Baby boomers are defined as people born between 1946 and 1964. An analysis
Arthritis is an inflammation of one or more joints. The symptoms are pain and stiffness, which usually worsen with age. Suppose that an analysis of age and incidence of arthritis produced the following table of joint probabilities.a. What is the probability that a person who is over 80 has
There are three major political parties in Canada. They are Conservatives, Liberals, and New Democrats. Suppose that in one city the breakdown of the party preferences and gender produced the following table of joint probabilities.a. Find the probability that a man would support the New
The U.S. Census Bureau in conjunction with the Bureau of Labor Statistics conducts surveys that record a wide variety of subjects. In the Consumer Expenditure Survey of 2014–2015 respondents were asked their age and the amount of money spent in the previous year on alcoholic beverages. Compute
The career-counseling center at a university wanted to learn more about the starting salaries of the university’s graduates. They asked each graduate to report the highest salary offer received. The survey also asked each graduate to report the degree and starting salary (column A = BA, column B
How much do pets cost? A random sample of dog and cat owners was asked to compute the amounts of money spent on their pets (exclusive of pet food). Determine the quartiles and describe your findings.
Refer to Exercise 6.83. Respondents in Greece, Hungary, and Poland were asked whether they approved or disapproved of the way the EU was dealing with the refugee issue. The number of respondents and the percentage opting for disapprove are listed here.What is the probability that if we select one
In June 2016, Britons were heading to the polls to vote in a referendum to decide whether the United Kingdom would leave the European Union. Pew Research Center conducted surveys in European countries to determine opinions about the possible €œBrexit.€ Respondents were asked
Here are the joint probabilities for CNN.a. If one person is selected at random what is the probability that he or she distrusts CNN?b. Find the probability that a consistentConservative trusts CNN.c. Compute the probability that a mostly Liberal neither trusts nor distrusts CNN.d. If one person is
Here are the joint probabilities for MSNBCa. Compute the probability that a mostly Conservative would distrust MSNBC.b. Find the probability that a mixed Liberal€“ Conservative would neither trust nor distrust MSNBC.c. If one person is selected at random what is the probability that he or
We list the joint probabilities for Fox News.a. Determine the probability that a consistent Liberal would distrust Fox News.b. Find the probability that a mostly Conservative trusts Fox Newsc. Find the probability that a consistent Conservative neither trusts nor distrusts Fox Newsd. If one person
A real estate developer of single-family dwellings across the country is in the process of developing plans for the next several years. An analyst for the company believes that interest rates are likely to increase but remain at low levels. To help make decisions about the number of homes to build,
The unemployment rate is an important measure of a country€™s economic health. The unemployment rate measures the percentage of people who are looking for work and who are without jobs. Unfortunately, it can be a misleading statistic because it does not include people who are unemployed
Compute the mean and standard deviation of the ages (AGE) of the heads of households.Assuming that the distribution is bell shaped what do the mean and standard deviation tell you?
Find the mean and standard deviation of the incomes (INCOME) of the heads of households. We know that the distribution of income is extremely positively skewed. Briefly describe what the two statistics tell you about the distribution of incomes.
Calculate the mean and standard deviation of household assets (ASSET). Assuming that this variable is positively skewed interpret the two statistics.
Find the mean and standard deviation of the household debt (DEBT) of the respondents in the 2013 survey. If we assume that debt is not bell shaped describe what the mean and standard deviation tell you.
Determine the first, second, and third quartiles of the data shown next.2 4 6 8 10 12 14 16 18 20
Find the inter-quartile range of the following sample. 9. 28 15 21 12 22 29 23 31 11 19 20 16 13 24
A random sample of Boston Marathon runners was drawn and the times to complete the race were recorded. Determine the quartiles and briefly describe what they tell you.
Do golfers who are members of private courses play faster than players on a public course? The amount of time taken for a sample of private course and public-course golfers was recorded. Find the quartiles for each group and describe what you have learned.
A random sample of households was selected. Each was asked how much they spent in food away from home (restaurants, fast food, etc.) last year. Calculate the quartiles and describe what information you’ve extracted from them.
Find the quartiles of the respondents’ incomes (RINCOME). Describe what they tell you about incomes of the respondents.
Calculate the quartiles for the years of education (EDUC) completed by the respondents. What information do they provide?
Determine the quartiles of the amount of television watched (TVHOURS) by the respondents. Briefly describe what they tell you about this variable.
Find the quartiles of the incomes (INCOME) of the respondents. What do they tell you about incomes of the heads of households?
Calculate the quartiles of household assets (ASSET). Interpret these statistics.
Determine the quartiles of the household debt (DEBT) of the respondents in the 2013 survey. What information did you extract?
The covariance of two variables has been calculated to be −150. What does the statistic tell you about the two variables?
You’ve now learned that the two sample standard deviations are 16 and 12.a. Calculate the coefficient of correlation. What does this statistic tell you about the relationship between the two variables?b. Calculate the coefficient of determination and describe what this says about the relationship
Calculate the mean and standard deviation of the annual incomes (RINCOME). Assuming that the distribution of incomes is very skewed what information do the mean and standard deviation give you?
Determine the mean and standard deviation of the amount of television watched (TVHOURS). If we assume that the distribution is bell shaped what do the two statistics tell you?
Respondents were asked about the number of years of education (EDUC). Calculate the mean and standard deviation. Histograms of this variable reveal an approximate bell shape. What do the mean and standard deviation tell you?
Calculate the mean and standard deviation of the ages of the respondents. What do these statistics tell you?
A sample of households was asked to report the amount of money they spend annually for fruits and vegetables. Compute the mean and standard deviation of these data. What do these statistics tell you about the distribution of the amounts?
A random sample of homeowners was asked to report the amount of money they paid in property taxes last year. Compute the mean and standard deviation. Assuming that the amounts are highly positively skewed describe what the two statistics tell you.
An amateur golf kept track of the scores of her last 100 rounds. Calculate the mean and standard deviation. Assuming that the distribution of scores is extremely skewed interpret the mean and standard deviation.
Flight delays in airplane travel is a fact of life for travelers. Suppose that the time for each of a sample of 125 delays in arriving (in minutes) was recorded. Early arrivals are shown as negative numbers and on-time arrivals are represented by zeroes. Calculate the mean and standard deviation of
Determine the variance and standard deviation of the following sample. 12 6 22 21 23 13 15 17 21
Calculate the variance of the following sample. 4 5 3 6 5 6 5 6
Calculate the variance of the following sample.9 3 7 4 1 7 5 4
Determine the mean and median of the amount of debt (DEBT) owed by the respondents. Briefly describe what the two statistics tell you. .
Calculate the mean and median of the respondent’s assets (ASSET). Is the mean greater than the median? If so, explain what that tells you about the distribution of assets.
Find the mean and median of the incomes (INCOME) of the respondents. Briefly describe what the large difference between the two statistics tells you about the distribution of incomes of the respondents.
Compute the mean and median of the ages (AGE) of the respondents in the 2013 survey. Interpret each statistic.
Calculate the mean and median of RINCOME. Is the mean greater than the median? If so, explain why. The following exercises are based on the Survey of Consumer Finances 2013.
How much television were Americans watching in 2014? Answer the question by calculating the mean and median of TVHOURS. What have you learned?
Calculate the mean and median of the years of education (EDUC). Briefly summarize what these statistics tell you about the years of education of Americans in 2014.
Compute the mean and median of the ages (AGE) of the respondents. What information do these statistics give you?
A random sample of households was surveyed. Each was asked how old their refrigerators were (in months). a. Compute the mean and median of these data. b. What have you learned about this data set from the statistics? The following exercises are based on the General Social Survey of 2014.
According to a recent National Household Survey (NHS), roughly 15.4 million Canadians commuted to work. Overall, about four out of five Canadian commuters used private vehicles. Specifically, 74.0% of commuters, or 11.4 million workers, drove a vehicle to work. A random sample of these commuters
The amount of time spent commuting by residents of Washington D.C. was recorded for a sample of 235 commuters. a. Compute the mean and median. b. What do the mean and median tell you about this data set?
The starting salaries of a sample of 300 recent Bachelor of Business Administration graduates were recorded. Calculate the mean and median. Interpret the meaning of each statistic.
An auction house conducts an auction once every week listing items such as jewelry, furniture, art, coins, and many others. The number of bidders from each of the auctions over the last 3 years was recorded. Determine the mean and median of the weekly number of bidders. What do these statistics
The professors at Wilfrid Laurier University are required to submit their final exams to the registrar€™s office 10 days before the end of the semester. The exam coordinator sampled 20 professors and recorded the number of days before the final exam that each submitted his or her exam.
Use the population of Canada from 1870 to compute the per capita debt. Graph the results. What have you learned? 3.110 Use the Canada CPI Annual to calculate the inflation adjusted (using 2002 as the base) per capita debt from 1915 to 2015. Briefly describe your results.
The debt owed by the Canadian federal government was recorded for the years 1870 to 2015. Use a graph to present these figures. Should future tax-paying Canadians be concerned? Briefly explain.
Use the U.S. CPI Annual to adjust the per capita debt figures to 1982–1984 dollars. Graph these figures. Does removing the effect of inflation allay your concerns for the future? Explain. Exercises 3.105 to 3.107 dealt with the United States government debt. The next three exercises should be of
Use the population of the United States from 1935 to 2015 to compute the per capita debt figures. Briefly describe what you have learned.
Calculate the first, second, and third quartiles of the following sample. 5 8 29 537 4 2 7 4 10 4 3 5
The size of the U.S. federal government debt was recorded for every year starting in 1790. (Yes, the government was in debt even then.) Use a graphical technique to display these figures. Briefly describe what the graph tells you.
Coin collecting is big business around the world. As an illustration, there are more than 500,000 American coins and more than 100,000 Canadian coins for sale/auction on Ebay. Moreover, there are dozens of other coin auctions every month. There are three critical factors that determine the value of
Does temperature affect the distance that golf balls travel? A Florida golfer decided to try to answer the question. Over the course of a year he measured the distance his drive traveled on a particular flat 400 yard par 4. The temperature (degrees Fahrenheit) was also recorded. Draw a scatter
Do educated people tend to marry other educated people? Draw a scatter diagram of EDUC and SPEDUC. What conclusions can you draw from the graph?
Do more educated people have children who are also more educated? Answer this question by drawing a scatter diagram of the years of education (EDUC) and the years of education of his or her father (PAEDUC).
Refer to Exercise 3.73. Draw a scatter diagram of years of education (EDUC) and years of education of mothers (MAEDUC). What conclusion can you draw?
If one half of a married couple works long hours, does the spouse work less? Draw a scatter diagram of HRS and SPHRS to answer the question.
Do older people watch more television? Draw a scatter diagram of AGE and TVHOURS. What conclusion can you draw for the chart?
Do more educated people watch less television? Draw a scatter diagram of EDUC and TVHOURS. Describe what you have discovered.
It seems reasonable to assume that more educated people will wait longer before having children. To determine whether this is reasonable draw a scatter diagram of years of education (EDUC) and the age at which a first child is born (AGEKDBRN). Describe your findings.
It seems reasonable to believe that as one grows older one accumulates more money. To see if this is true use a graphical method to determine whether AGE and ASSETS are related. What did you discover?
Are younger Americans more educated than older Americans? Answer the question by using a graphical technique to examine the relationship between AGE and EDUC. What does the graph tell you?
How long does it take for someone to be deeply in debt? If it takes a long time we would expect AGE and DEBT to be related. Determine if they are by using a graphical technique. What have you learned?
To determine premiums for automobile insurance, companies must have an understanding of the variables that affect whether a driver will have an accident. The age of the driver may top the list of variables. The following table lists the number of drivers in the United States, the number of fatal
During 2002 in the state of Florida, a total of 365,474 drivers were involved in car accidents. The accompanying table breaks down this number by the age group of the driver and whether the driver was injured or killed. (There were actually 371,877 accidents, but the driver€™s age was not
The monthly exchange rate of U.S. dollars to one Australian dollar was recorded from 1971 to 2016. Draw a graph that shows how the exchange rate has varied over the past 41 years.
SPAM is an unfortunate fact of life. A random sample of university students was asked to report the number of Spam e-mails they receive in a typical day. Use an appropriate graphical method to display these data.
In Chapters 16, 17, and 18, we introduce regression analysis, which addresses the relationships among variables. One of the first applications of regression analysis was to analyze the relationship between the heights of fathers and sons. Suppose that in a sample of 80 father–son combinations
When the Dow-Jones Industrial Index increases it usually means that the economy is growing, which in turn usually means that the unemployment rate is low. A statistics professor pointed out that in numerous periods (including when this edition was being written) the stock market has been booming
The monthly values of one British pound measured in American dollars since 1971 were recorded. Produce a graph that shows how the exchange rate has varied over the past 45 years.
Is airline travel becoming safer? To help answer this question, a statistics professor recorded the number of fatal accidents involving airliners carrying at least 19 passengers that occurred in the years 1950 to 2014. Use a graphical method to answer the question.
Do better golfers play faster than poorer ones? To determine whether a relationship exists, a sample of 125 foursomes was selected. Their total scores and the amount of time taken to complete the round were recorded. Graphically depict the data and describe what they tell you about the relationship
It is generally believed that higher interest rates result in less employment because companies are more reluctant to borrow to expand their business. To determine whether there is a relationship between bank prime rate and unemployment, an economist collected the monthly prime bank rate and the
Are younger workers less likely to stay with their jobs? To help answer this question, a random sample of workers was selected. All were asked to report their ages and how many months they had been employed with their current employers. a. Produce a scatter diagram. b. Does your graph
Do chief executive officers (CEOs) of publicly traded companies earn their compensation? Every year the National Post’s Business magazine attempts to answer the question by reporting the CEO’s annual compensation ($1,000), the profit (or loss) ($1,000), and the three-year share return (%) for
In attempt to determine the factors that affect the amount of energy used, 200 households were analyzed. The number of occupants and the amount of electricity used were measured for each household. Produce a scatter diagram. What does the graph tell you about the relationship between number of

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Statistics For Management And Economics 11th Edition Gerald Keller - Solutions

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