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

Use the seasonal indexes and trend line to forecast the quarterly earnings for the years 2014 and 2015 in Exercise 20.24.In exercise 20.24The quarterly earnings (in $millions) of a large soft-drink manufacturer have been recorded for the years 2013€“2016. These data are listed here.
Refer to Exercise 20.23. Use the seasonal indexes and the trend line to forecast the time series for the next four quarters.In exercise 20.23Given the following time series, compute the seasonal indexes. The regression equation isyÌ‚ = 47.7 ˆ’ 1.06t (t = 1, 2, . . . , 20) Year
Use the seasonal indexes and trend line to forecast the time series for the next 5 days in Exercise 20.22.In exercise 20.22For the following time series, compute the seasonal (daily) indexes. The regression line isyÌ‚ = 16.8 + .366t (t = 1, 2, . . . , 20) Week Day 2 3 Monday Tuesday
Apply exponential smoothing with w = .4 to forecast the next four quarters in Exercise 20.15.In exercise 20.15The following quarterly sales of a department store chain were recorded for the years 2013€“2016. Year 2014 2013 2015 2016 Quarter 18 33 25 41 22 20 36 33 3 27 38 44 52 29 4 31 26
The following auto regressive equation was developed. Forecast the next value if the last observed value was 11.ŷ = 155 + 21yt−1
Use the following auto regressive equation to forecast the next value of the time series if the last observed value is 65.ŷ = 625 − 1.3yt−1
The following trend line and seasonal indexes were computed from 4 weeks of daily observations. Forecast the 7 values for next week.ŷ = 120 + 2.3t t = 1, 2, . . . , 28Day............................................................... Seasonal
The following trend line and seasonal indexes were computed from 10 years of quarterly observations. Forecast the next year’s time series.ŷ = 150 + 3t t = 1, 2, . . . , 40Quarter................................................ Seasonal
The quarterly earnings (in $millions) of a large soft-drink manufacturer have been recorded for the years 2013€“2016. These data are listed here. Compute the seasonal indexes given the regression lineyÌ‚ = 61.75 + 1.18 t (t = 1, 2, . . . , 16) Year Quarter 2013 2014 2015
Given the following time series, compute the seasonal indexes. The regression equation isyÌ‚ = 47.7 ˆ’ 1.06t (t = 1, 2, . . . , 20) Year Quarter 55 44 46 39 2 4 3 41 38 37 43 39 39 35 36 32 30 25 50 25 24 22 2 3 4 2.
For the following time series, compute theseasonal (daily) indexes.The regression line is yÌ‚ = 16.8 + .366t (t = 1, 2, . . . , 20) Week Day 2 3 Monday Tuesday Wednesday Thursday Friday 12 11 14 17 18 17 16 21 16 19 16 20 25 24 28 24 27 25 31 32
According to the U.S. Census the average family spent $2675 on food away from home (FOODAWAY) eaten at home. Is there enough evidence to infer that the average upperclass household spent more than the average family?
Are there differences between men and women (HHSEX: 1 = Male, 2 = Female) in their choices of employment (OCCAT2 Occupation classification for head of household: 1. Managerial/ professional, 2. Technical/sales/services, 3. other (including production/craft/repair workers, operators. Laborers,
One question asked by the survey addressed the issue of whether the household had any debts (DEBT: 1 = Yes). Is there sufficient evidence to infer that male and female heads (HHSEX: 1 = Male, 2 = Female) of households differ?
Students may be surprised to learn that people with high net worth also have large debts. Estimate the mean household debt for members of the upper class (DEBT).
Late payments on virtually all loans result in financial penalties. For example, credit card companies often increase their interest rates to around 30% if a customer is late paying their monthly bills. Estimate the number of people who were late in paying their debts in the previous 12 months
Is the number of people working for themselves a measure of the state of the economy? A large number may mean that a large proportion of the population cannot find a job. Estimate the number of people who are self employed (OCCAT1: 2 = Self-employed/partnership).
Do middle-class male heads of households have more invested in the stock market than their female counterparts (HHSEX: 1 = Male, 2 = Female)? Conduct a statistical analysis to determine whether there is enough evidence to infer that males have larger investments in stocks than females (STOCKS).
Is the amount spent of food away from home (FOODAWAY) related to how well educated the head of the household is (EDCL 1 = No high school diploma, 2 = High school diploma, 3 = Some college, 4 = College degree)? Conduct a test to answer the question.
Is there a relationship between years of education (EDUC) of people and the years of education of their mothers (MAEDUC)? Use a statistical procedure to answer the question. confidence level for estimates. According to the U.S. Census, there were 220,958,853 adults in the United States in 2010.
The survey asked respondents :If you were to get enough money to live as comfortably as you would like for the rest of your life, would you continue to work or would you stop working?” Can we infer from the data that more than half would continue working (RICHWORK: 1 = Continue working) ?
Can we infer from the data that the majority of Americans support capital punishment for murderers (CAPPUN: 1 = Favor, 2 = Oppose)?
Since there are no employers that one needs to impress to get a job we would expect self-employed (WRKSLF: 1 = self-employed, 2 = someone else) people to have less formal education than other workers (EDUC). Is there enough statistical evidence to draw that conclusion?
Home ownership was always part of the American dream. Estimate the number of Americans who own their own home (DWELOWN: 1 = Own).
Do liberals like paying tax and conservative hate it? Or they all the same. Use an appropriate statistical technique to determine whether liberals, moderates, and conservatives (POLVIEWS3) differ in their response to the question, “Federal income tax you pay. . .” (1 = Too high, 2 = About
The survey asked the question, “Do you favor requiring a police permit to buy a gun?” Is there enough evidence to infer that liberals, moderates, and conservatives (POLVIEWS3) differ in their responses to the question (GUNLAW: 1 = Support, 2 = Oppose)?
The following question was asked. “Is it government’s responsibility to help pay for doctor and hospital bills?” (The responses were HELPSICK: 1 = Government should help; 2, 3, 4, 5 = People should help themselves). Can we infer from the data that the responses differ among the three
Who is most educated among the liberals, moderates, and conservatives) (POLVIEWS3: 1 = Liberal, 2 = Moderate, 3 = Conservative)? Conduct a test to determine whether differences in education (EDUC) exist among the three political philosophies.
One way of judging the state of the economy is to determine how many hours is the average person working per week. Estimate with 95% confidence the number of hours of work per week for the average person (HRS1).
Do Americans who want government to improve the standard of living of poor people also want government to help sick people pay doctor and hospital bills? Answer the question by determining whether there is enough evidence to infer that these two variables are positively linearly related: (HELPPOOR:
As people age do they believe that government should take no action to reduce income inequality? Conduct a test to determine whether there is enough evidence to infer that older Americans (AGE) are less likely to want government to act (EQWLTH: 1 = Government should reduce differences; 2, 3, 4, 5,
There are some jobs people have for life (university professor comes immediately to mind). But do most people go from one job to another sometimes experiencing unemployment?The General Social survey may have an answer. It asked respondents have they ever experienced unemployment in the 10 years
Use an inferential technique to determine whether there is enough evidence to infer that women (SEX: 1 = Male, 2 = Female) are more likely to work for the government (WRKGOVT: 1 = Government, 2 = Private enterprise) than men?
One of the arguments put forth by advocates of lower tuition fees is that children of low or moderate income families will not be able to pay for a child’s university education. To examine this issue, a random sample of families whose children were at least 20 years old was drawn. Each family was
How many golfers are there in the United States? A survey of American adults (age 18 and above) asked whether they had played golf at least once a month during the summer. The responses are 2 = yes and 1 = no. The survey also asked respondents to indicate which of the following household income
What should be the priority of paramedics who respond to accidents? Should they treat the patients with their limited facilities or should they rush the victims to the nearest hospital (an approach known as “scoop and run”)? A research project begun in 1993 may provide the answer.Researchers
The high cost of medical care makes it imperative that hospitals operate efficiently and effectively. As part of a larger study, patients leaving a hospital were surveyed. They were asked how satisfied they were with the treatment they received. The responses were recorded with a measure of the
Winter is the influenza season in North America. Each winter, thousands of elderly and sick people die from the flu and its attendant complications. Consequently, many elderly people receive flu shots in the fall. It has generally been accepted that young healthy North Americans need not receive
Under the rules of Canada’s Employment Insurance (EI) plan, some workers can use EI repeatedly after working only a short time. The amount of time needed to qualify for EI varies by region and by occupation. In a study undertaken by researchers, regular users of EI were surveyed and asked, among
Ever since the discovery of germs, parents have been telling their children to wash their hands. Common sense tells us that this should help minimize the spread of infectious diseases and lead to better health. A study reported in the University of California at Berkeley Wellness Letter (volume 13,
Obesity among children in North America is said to be at near-epidemic proportions. Some experts blame television for the problem, citing the statistic that children watch an average of 26 hours per week. During this time, children are not engaged in any physical activity, which results in weight
Simco Inc. is a manufacturer that purchased a new piece of equipment designed to reduce costs. After several months of operation, the results were quite unsatisfactory. The operations manager believes that the problem lies with the machine’s operators, who were unable to master the required
Flonase is a nasal allergy treatment; like all drugs, it has side effects. Before approving it, the company (GlaxoSmithKline) performs a number of experiments to determine the drug’s side effects. In one such experiment, a random sample of 1,707 volunteers was drawn. Of these, 167 were given a
The cost of taking an extra year to earn an MBA is quite high. To determine whether it is worthwhile, a BBA graduate surveyed 200 people who had either a BBA or an MBA and recorded their annual salary (in $1,000s) after 5 years of work. The student determined that the added cost of the MBA is
In Chapter 7, we showed that diversification reduces the risk associated with a portfolio of investments. (Most experts advise their clients that the portfolios should contain between 20 and 30 stocks scattered in different industries.) Do investors understand this concept? To help answer this
An important measure of the health of a nation’s economy is total debt. A Canadian survey asked a random sample of households how much money (in $1,000s) they owed. This includes mortgages, loans, and credit card debt. Assuming that there are 10 million households in Canada, estimate with 95%
Refer to Exercise A19.9. The economist also wanted to know whether there are differences in miles driven between cars, buses, and vans, pickups, and SUVs.In exercise A19.9The high price of gasoline is likely to lead to less travel. An economist specializing in energy uses wanted to learn more about
The issue of immigration, legal and illegal, has political and economic ramifications. An important component of the issue is how well immigrants integrate into the American economy. A University of Florida study attempted to answer this question. Researchers randomly surveyed U.S. born Americans,
Why do some students do well in university while others struggle? To help answer this question, a random sample of first-year students at four universities was selected. Those who had a grade point average of more than 3.0 (group 1) and those who had a grade point average of less than 2.0 (group 2)
Refer to A19.5. To acquire information about who is shopping downtown, the statistics practitioner also recorded the annual household income (in $1,000s) of the respondents. Is there enough evidence to infer that affluent people shop downtown more frequently than poorer people? (The author is
In city after city, downtown cores have become less and less populated and poorer because shoppers have taken their money to the suburbs and to shopping malls. One reason often given for the decline in downtown shops is the difficulty in parking. To shed more light on the issue, a random sample of
In an effort to analyze the results of Exercise A15.9, the researcher recorded the total travel length of the course. This variable measures the total distance golfers must walk to play a round of golf. It is the sum of the golf-course playing distance plus the distance golfers must walk from the
Refer to Exercise 13.36 where respondents were asked to taste the same wine in two different bottles. The first bottle was capped using a cork, and the second had a metal screw cap. Respondents were also asked to taste the wine and rate it using the following categories.Poor (1), Fair (2), Good
Some customers spend a great deal of time doing research before choosing a particular brand of a product, particularly an expensive product. Does this result in a more satisfied customer?To shed light on this question, a random sample of people who purchased a new car within the last two years was
Most supermarkets load groceries into plastic bags. However, plastic bags take many years to decompose in garbage dumps. To determine how big the problem might be, a random sample of American households was each asked to determine the number of plastic bags they use and discard in a week. The last
Refer to Exercise 16.139. The gender of the student was recorded where 1 = male and 0 = female.a. Does the inclusion of gender improve the model?b. Predict with 95% confidence the height of a female whose index finger is 6.5 cm long.c. Predict with 95% confidence the height of a male whose index
Refer to Exercise 16.132, where a simple linear regression model was used to analyze the relationship between welding machine breakdowns and the age of the machine. The analysis proved to be so useful to company management that it decided to expand the model to include other machines. Data were
Refer to Exercise 17.10, where a multiple regression analysis was performed to predict men’s longevity based on the parents’ and grandparents’ longevity. In addition to these data, suppose that the actuary also recorded whether the man was a smoker (1 = yes and 0 = no).a. Use regression
Are there differences between male and female (HHSEX: 1 = Male, 2 = Female) heads of households with respect to family structure (FAMSTRUCT: 1 = Not married or living with partner + children, 2 = Not married or living with partner + no children+ head of household under 55, 3 = Not married or living
Does education affect how people spend their food dollars? Answer the question by determining whether there is enough statistical evidence to infer that there are differences in expenditures for food at home (FOODHOME) between the four categories of education (EDCL 1 = No high school diploma, 2 =
In 2010, banks were still in trouble because of the housing meltdown. As a result, they were increasing their standards for credit cards and loans. Estimate the proportion of people who were turned down for credit in the previous 5 years (TURNDOWN: 1).
The survey asked whether the household had declared bankruptcy in the previous 5 years (BNKRUPLAST5: 1 = Yes). Is there enough evidence to conclude that male and female (HHSEX: 1 = Male, 2 = Female) heads of households differ?
According to the U.S. Census, the average family spent $3921 on food eaten at home (FOOD HOME). Is there enough evidence to infer that the average upper class household spent more than the average family?
The upper class in the 2010 survey had household net worth between $1,345,975 and $7,402,095. Households in this net worth category have large amounts to invest in the stock market. Estimate the mean investment in the stock market by upper class households (STOCKS).
In 2007–2009, the United States was hit with a financial crisis brought on by a crash in the housing market. How has this impacted the proportion of families who own their home in 2010? Estimate the proportion of home ownership (HOUSECL: 1 = own).
Do middle-class households headed by men (HHSEX: 1 = male, 2 = female) spend more money on food away from home than their female counterparts (FOODAWAY)? Conduct a test to answer the question.
Is the number of years of education of individuals affected by the educational attainment of their fathers? To answer this question, is there enough evidence to conclude that years of education (EDUC) is positively related to the years of education of fathers (PAEDUC)?
Is there sufficient evidence to conclude that as income (RINCOME) increases Americans are less likely to believe that government should reduce income inequality (EQWLTH: 1 = Government should reduce differences; 2, 3, 4, 5, 6, 7 = No government action)?
One of the questions in the survey was “Does the Earth go around the Sun or does the Sun go around the Earth?” (EARTHSUN: 1 = Earth around Sun, 2 = Sun around Earth, 8 = Don’t know, 9 = No answer). Estimate the number of Americans who knew the answer is 1.
Many aspects of life, including jobs, become routine and perhaps boring. The General Social Survey asked respondents: “In general, do you find life... Is there enough evidence to infer that the majority find life exciting (LIFE: 1 = Exciting)?”
Are Americans more educated? Conduct a test to determine whether there is enough evidence to conclude that the average American has completed at least a high school education (12 years of school) (EDUC).
Do most people love their jobs? The survey asked respondents: “On the whole, how satisfied are you with the work you do?” Estimate the number of American workers who are very satisfied (SATJOB: 1 = Very satisfied).
Do people have an overconfidence attitude about their financial situation compared to others? Estimate the number of American adults who say that they belong in the upper class (CLASS: 4 = Upper class).
Do married men and women have different perceptions of their marriage? The survey asked the following question: “Taking all things together, how would you describe your marriage (HAPMAR: 1= Very happy, 2 = Pretty happy, 3 = Not too happy)?” Is there enough evidence to conclude that men and
Do men and women differ in their belief that they pay too much income tax? Conduct a test to determine whether there is enough evidence to conclude that men and women (SEX: 1 = Male, 2 = Female) differ in their responses to the tax question (TAX: = Too high, 2 = About right, 3 = Too low).
Does political philosophy affect support for capital punishment? Is there enough evidence to conclude that support for capital punishment (CAPPUN: 1 = Favor, 2 = Oppose) differs between the three political points of view (POLVIEWS3: 1 = Liberal, 2 = Moderate, 3 = Conservative)?
There are many advantages to selfemployment (WRKSLF: 1 = self-employed; 2 = someone else) including the ability to decide how hard and how often to work. Does that mean that self-employed individuals work less than other workers (HRS1)? Conduct a test to provide an answer.
Are there differences between Democrats, Independents, and Republicans (PARTYID3) in their answers to the following question: “Should government do more or less to solve country’s problems (HELPNOT: 1 = Government should do more; 2, 3, 4, 5 = Government does too much). Conduct a test to
Who is more likely to have completed a graduate degree, men or women? Conduct a test to determine whether there is enough evidence to infer that men and women (SEX: 1 = Male, 2 = Female) differ in their completion of graduate degrees (DEGREE: 4 = Graduate).
Do conservatives oppose gun control while liberals support it? Conduct a test to determine whether there is sufficient evidence to conclude that the three political parties (PARTYID3: 1 = Democrat, 2 = Independent, 3 = Republican) differ in their support for gun control (GUNLAW: 1 = Support, 2 =
Is it true that as we age we become more conservative? If this is true we would expect that conservatives would be older than liberals and independents. Analyze the data to determine whether there is enough evidence to conclude that differences in age (AGE) exist between the three political
Are American women more liberal than American men? If so we should see evidence from the General Social Survey. Is there enough evidence to conclude that there are differences in political philosophies (POLVIEWS3: 1 = Liberal, 2 = Moderate, 3 = Conservative) between men and women (SEX: 1 = Male, 2
The survey asked the following question: “I’m going to show you a seven-point scale on which political views that people might hold arranged from extremely liberal to extremely conservative. Where would you place yourself on this scale?” stimate the number of Americans who are liberal
The survey asked the following question: “Is it government’s responsibility to help pay for doctor and hospital bills?” The responses were HELPSICK: 1 = Government should help; 2, 3, 4, 5 = People should help themselves). Is there enough statistical evidence to infer that there are
An economist wanted to learn more about total compensation packages. She conducted a survey of 858 workers and asked all to report their hourly wages or salaries, their total benefits, and whether the companies they worked for produced goods or services. Determine whether differences exist between
In an effort to explain to customers why their electricity bills have been so high lately, and how customers could save money by reducing the thermostat settings on both space heaters and water heaters, a public utility commission has collected total kilowatt consumption figures for last year’s
Repeat Exercise 17.23 for expenditures on food away from home (FOODAWAY).In exercise 17.23How are middle class households’ expenditures on food eaten at home affected by the age, education, and income of the head of the household?To answer the question conduct a regression analysis using FOODHOME
How are middle class households’ expenditures on food eaten at home affected by the age, education, and income of the head of the household?To answer the question conduct a regression analysis using FOODHOME as the dependent variable and AGE, EDUC, and INCOME as independent variables.a. Determine
The admissions officer of a university is trying to develop a formal system to decide which students to admit to the university. She believes that determinants of success include the standard variables—high school grades and SAT scores. However, she also believes that students who have
The general manager of the Cleveland Indians baseball team is in the process of determining which minor-league players to draft. He is aware that his team needs home-run hitters and would like to find a way to predict the number of home runs a player will hit. Being an astute statistician, he
Do middle-class heads of households who have a high school diploma only have more assets (ASSET) than those who did not finish high school (EDCL: 1 = No high school diploma, 2 = High school diploma)? Use an appropriate statistical technique to answer the question.
One way to examine the issue of family structure is to determine the number of households with no spouse or partner. Estimate the proportion of households whose head is neither married nor living with partner (MARRIED: 2).
Do upper-class households get a great deal of the income from interest and dividends? To answer the question, estimate the mean interest and dividend income for upper-class households (INTDIVINC).
The upper class in the 2010 survey had household net worth between $1,345,975 and $7,402,095. Money kept in checking accounts earns no interest but are kept to pay bills. Estimate the mean amount held in checking accounts by households in the upper class (CHECKING).
Is there sufficient evidence to conclude that there are differences in income (INCOME) between the four categories of educational attainment (EDCL: 1 = No high school diploma, 2 = High school diploma, 3 = Some college, 4 = College degree)?
In 2010, the American economy was still faltering because of the housing meltdown during 2007–2009. One sign of the difficulty is people struggling to pay their living expenses. Estimate the number of people who said that their overall household expenses were unusually high(EXPENSHILO: 1).
Females are now attending colleges and universities in greater numbers than men. In the past men were more likely than women to have graduate degrees. Conduct a test to determine whether there is enough evidence to infer that males (HHSEX: 1 = Male, 2 = Female) continue to be more likely than
Are female and male heads of households equally likely to carry a balance on their credit cards? Conduct a test to determine whether there is a difference between the sexes (HHSEX: 1 = Male, 2 = Female) with respect to carrying a balance on credit cards (NOCCBAL: 0 = Carry a balance, 1 = Do not
Do middle-class households headed by women (HHSEX: 1 = Male, 2 = Female) spend more money on food at home than their male counterparts (FOODHOME)? Conduct a test to answer the question.
Is there enough evidence to conclude that there are differences between the three working categories (OCCAT2: 1 = Managerial/professional, 2= Technical/sales/services, 3 = Other) in terms of whether the household declared bankruptcy in the previous 5 years (BNKRUPLAST5: 1 = Yes)?

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

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