Questions and Answers of Statistics For Managers Using Microsoft Excel

Results of a 2017 Computer Services, Inc. (CSI) survey of a sample of 163 bank executives reveal insights on banking priorities among financial institutions (goo.gl/mniYMM). As financial institutions
An Ipsos poll asked 1,004 adults, "If purchasing a used car made certain upgrades or features more affordable, what would be your preferred luxury upgrade?" The results indicated that 9% of the males
CardioGood Fitness is a developer of high-quality cardiovascular exercise equipment. Its products include treadmills, fitness bikes, elliptical machines, and e-glides. CardioGood Fitness looks to
U.S. businesses are listed by size: small, medium, and large. Explain why business size is an example of categorical variable.
Identifying and preventing misuses of statistics is an important responsibility for all managers. The Digital Cases allow you to practice the skills necessary for this important task.Each chapter's
Visit the website of the Pew Research organization at www .pewresearch.org. Read today's top story. What type of data source is the top story based on?
You want to select a random sample of n = 1 from a population of three items (which are called A, B, and C). The rule for selecting the sample is as follows: Flip a coin; if it is heads, pick
Suppose that 1,000 customers in an online electronics seller's customer database are categorized by three customer types: 200 potential customers who have visited the site but not purchased, 300 who
A survey indicates that the vast majority of college students own their own smartphones. What information would you want to know before you accepted the results of this survey?
Results of the 2019 annual banking priorities survey of a sample of 220 bankers nationwide by Computer Services, Inc., available at bit.ly/2POHAlk, reveal insights on key areas of strategic focus and
A 2019 PwC survey of 1,000 U.S. executives (available at pwc.to/2DAHI4q) indicated that artificial intelligence (AI) is no longer seen as a side project or science experiment. Eighty percent of U.S.
A recent survey (available at bit.ly/2H5mQ6g) points to the transformation underway in the automotive retail landscape. The 2019 KPMG Global Automotive Executive Study found that automobile
What is the difference between a sample and a population?
What is the difference between a categorical variable and a numerical variable?
What is the difference between coverage error and nonresponse error?
Visit the official Microsoft Excel product website, products.office.com/excel. Review the features of the program you chose and then state the ways the program could be useful in statistical analysis.
A 2019 PwC survey of l,000 U.S . executives indicated that artificial intelligence (Al) is no longer seen as a side project. Eighty percent of U.S. CEOs think AI will significantly change the way
Examine Zarca Interactive's "Sample Employee Satisfaction Survey/Sample Questions for Employee Satisfaction Survey," available at bit.Iy/21qjl6F.a. Give an example of a categorical variable included
In the Using Statistics scenario, you were asked to gather information to help make wise investment choices. Sources for such information include brokerage firms, investment counselors, and other
The following table, stored in Smartphone Sales , represents the quarterly market share (percentage) of smartphones, by type, for the third quarter of 2017 through the third quarter of 2018, as
The market research team at AdRight is assigned the task of identifying the profile of the typical customer for each treadmill product offered by CardioGood Fitness. The market research team decides
A sample of companies were asked three questions about analytics and artificial intelligence usage and their answers stored in Business Analytics, Machine Learning, and Self-learning Robots.The
The student news service at Clear Mountain State University (CMSU) has decided to gather data about the undergraduate students who attend CMSU. They create and distribute a survey of 14 questions
The following table, stored in Energy Sources , contains the 2018 sources of electricity in the United States as reported by the Energy Information Administration.What conclusions can you reach
An Ipsos poll asked 1,004 adults, "If purchasing a used car made certain upgrades or features more affordable, what would be your preferred luxury upgrade?" The results indicated that 9% of
In Problem 14.6, you used full-time voluntary turnover(%) and total worldwide revenue ($billions) to predict the number of full-time job openings (stored in Best Companies ). Using the results from
In Problem 14.6, you used full-time voluntary turnover(%), and total worldwide revenue ($billions) to predict number of full-time job openings (stored in Best Companies).Develop a regression model to
The file Utility contains the following data about the cost of electricity (in $) during July 2018 for a random sample of 50 one-bedroom apartments in a large city.a. Construct a frequency
The file Work Hours Needed contains the average number of hours worked necessary to afford the cost of three people attending a National Basketball Association (NBA) game, inclusive of parking and
The file Blubs contains the life (in hours) of a sample of forty 6-watt light emitting diode (LED) light bulbs produced by Manufacturer A and a sample of forty 6-watt LED light bulbs produced by
The following table, stored in Energy Sources, contains the 2018 sources of electricity in the United States as reported by the Energy Information Administration.a. Construct a Pareto chart.b. What
A recent survey of insurance professionals explores the use of technology in the industry. The file Technologies contains the responses to the question that asked what technologies these
A survey of 1,520 American adults asked, " Do you feel overloaded with too much information?" The results indicate that 23% of females feel information overload compared to 17% of males.The results
Ipsos polled 1,004 adults asking them, "If purchasing a used car made certain upgrades or features more affordable, what would be your preferred luxury upgrade?" The summarized results show that 9%
The following is a series of annual sales (in $millions) over an 11-year period (2008 to 2018):a. Construct a time-series plot.b. Does there appear to be any change in annual sales over time?
The file Work Hours Needed contains the average number of hours worked necessary for three people to afford to attend an NBA game, inclusive of parking and food and beverage costs, at each of the 30
A Pew Research Center survey found that smartphone ownership is growing rapidly around the world, although not always equally, and social media use is somewhat less widespread, even as Internet use
The file Movie Attendance contains the yearly movie attendance (in billions) from 2001 through 2018.a. Construct a time-series plot for the movie attendance (in billions).b. What pattern, if any, is
The file New Home Sales contains the number of new homes sold (in thousands) and the median sales price of new single-family houses sold in the United States recorded at the end of each month from
The Super Bowl is a big viewing event watched by close to 200 million Americans that is also a big event for advertisers. The file Super Bowl Ads Costs contains the average cost for 30-second ads
Using the sample of retirement funds stored in Retirement Funds:a. Construct one chart that visualizes 10YrReturn and 1 Yr Return by market cap.b. Construct one chart that visualizes 5YrReturn and 1
The data in New Home Sales include the median sales price of new single-family houses sold in the United States recorded at the end of each month from January 2000 through December 2017.a.
The file Natural Gas includes the monthly average commercial price for natural gas (dollars per thousand cubic feet) in the United States from January 1, 2008, to December 2018.a. Construct a
Figure 2.4 shows a bar chart and a pie chart for what employed adults did the last time they were sick.a. Create an exploded pie chart, a cone chart, or a pyramid chart that shows how employed adults
Figures 2.5 and 2.6, show a bar chart and a pie chart for the risk level for the retirement fund data.a. Create an exploded pie chart, a doughnut chart, a cone chart, and a pyramid chart that show
The following table stored in Movie Types represents the market share (in number of movies, gross in millions of dollars, and millions of tickets sold) of each type of movie in 2018:a. Construct a
What is the difference between a time-series plot and a scatter plot?
What is the difference between a time-series plot and sparklines?
The Air Travel Consumer Report, a monthly product of the Department of Transportation 's Office of Aviation Enforcement and Proceedings (OAEP), is designed to assist consumers with information on the
The file Domestic Beer contains the percentage alcohol, number of calories per 12 ounces, and number of carbohydrates (in grams) per 12 ounces for 157 of the best selling domestic beers in the United
The Super Bowl, watched by close to 200 million Americans, is also a big event for advertisers. The file Super Bowl Ads Ratings contains the rating of ads that ran between the opening kickoff and the
The file CD Rates contains the yields for one-year certificates of deposit (CDs) and for five-year CDs for 46 financial institutions selling CDs in Lake Worth, Florida, as of April 5, 2019.a.
The file Natural Gas contains the U.S. monthly average commercial and residential price for natural gas in dollars per thousand cubic feet from January 2008 through December 2018.For the commercial
Download speed of an Internet connection is of great importance to both individuals and businesses in a community. The file City Download Speeds contains the download speed in Mbps for 100 United
What are the properties of a set of numerical data?
According to the U.S. Census Bureau (census.gov), in 2018, the median sales price of new houses was $326,200, and the mean sales price was $384,600.a. Interpret the median sales price.b. Interpret
The file Mobile Speed contains the overall download and upload speeds in Mbps for e ight carriers in the United States.For the download speed and the upload speed separately:a. Calculate the mean and
The file Work Hours Needed contains the average number of hours worked necessary to afford the cost for three people to attend an NBA game, inclusive of parking and food and beverage costs, at each
The file Mobile Commerce contains the mobile commerce penetration values, the percentage of the country population that bought something online via a mobile phone in the past month , for 24 of the
A financial services call center monitors call duration, the amount of time spent speaking to customers on the phone. The file Call Duration contains the data for time, in seconds, agents spent
General Electric (GE) is one of the world's largest companies; it develops, manufactures, and markets a wide range of products, including medical diagnostic imaging devices, jet engines, Lighting
Facebook's stock price in 2017 increased by ~ 75.8%, and in 2018, it decreased by 25.7%.a. Compute the geometric mean rate of return per year for the two-year period 2017-2018.b. If you purchased
The file Indices contains data that represent the total rate of return percentage for the Dow Jones Industrial Average (DJIA), the Standard & Poor's 500 (S&P 500), and the technology-heavy
In 2016 through 2018, the value of precious metals fluctuated greatly. The data (stored in Metals) represent the total rate of return (in percentage) for platinum, gold, and silver from 2016 through
A financial services call center monitors call duration, the amount of time spent speaking to customers on the phone. The file Call Duration contains the data for time, in seconds, agents spent
The Super Bowl is a big viewing event watched by close to 200 million Americans, so it is also a big event for advertisers. The file Super Bowl Ad Ratings contains the rating of ads that ran between
The file McDonalds Stores contains the number of McDonald's stores per 100,000 population located in each of the 50 U.S. states as of September 13, 2018.a. Calculate the mean, variance, and standard
The file Cigarette Tax contains the state cigarette tax (in $) for each of the 50 states and the District of Columbia as of January 1, 2019.a. Calculate the population mean and population
Thirty companies comprise the DJIA. Just how big are these companies? One common method for measuring the size of a company is to use its market capitalization, the product of multiplying the number
The file Mobile Speed contains the overall download and upload speeds in Mbps for eight carriers in the U.S.a. Calculate the covariance between download speed and upload speed.b. Calculate the
How do the boxplots for distributions of varying shapes differ?
What is the difference between the geometric mean and the geometric rate of return?
The download and upload speeds of a mobile data carrier is of great interest to both individual and business users. The file City Download Speeds contains the average download speeds in Mbps for 100
College basketball in the United States is big business with television contracts in the billions of dollars and coaches' salaries in the millions of dollars. The file Coaches Pay contains the total
The file Domestic Beer contains the percentage alcohol, number of calories per 12 ounces, and number of carbohydrates (in grams) per 12 ounces for 157 of the best-selling domestic beers in the United
Three coins are tossed.a. Give an example of a simple event.b. Give an example of a joint event.c. What is the complement of a head on the first toss?d. What does the sample space consist of?
Financial experts say retirement accounts are one of the best tools for saving and investing for the future. Are millennials and Gen Xers financially prepared for the future? A survey of American
How will marketers change their organic (unpaid) social media postings in the near future? A survey by Social Media Examiner reported that 65% of B2B marketers (marketers who focus primarily on
Referring to Problem 14.41 on page 506, you have decided to analyze whether there are differences in fixed acidity, chlorides, and pH between white wines and red wines (0 = white 1 = red). Using the
The following data, stored in Core Appliances , list the number of shipments of core major household appliances in the United States from 2000 to 2017 (in millions).a. Plot the time series.b. Fit a
The file Coffee Exports contains the coffee exports (in thousands of 60 kg bags) by Costa Rica from 2004 to 2018.a. Plot the data.b. Fit a three-year moving average to the data and plot the
The file lPOs contains the number of initial public offerings (IPOs) issued from 2001 through 2018.a. Plot the data.b. Fit a three-year moving average to the data and plot the results.c. Using a
The linear trend forecasting equation for an annual time series containing 22 values (from 1998 to 2019) on total revenues (in $millions) isa. Interpret the Y intercept, b0.b. Interpret the slope,
The linear trend forecasting equation for an annual time series containing 42 values (from 1998 to 2019) on net sales (in $billions) isa. Interpret the Y intercept, b0.b. Interpret the slope, b1•c.
The file Silver contains the following prices in London for an ounce of silver (in US$) on the last day of the year from 1999 to 2018:a. Plot the data.b. Compute a linear trend forecasting equation
There has been much publicity about bonuses paid to workers on Wall Street. Just how large are these bonuses? The file Bonuses contains the bonuses paid (in $000) from 2000 to 2018.a. Plot the
The data in CPU reflect the annual values of the consumer price index for all urban consumers (CPI-U) in the United State over the 54-year period 1965 through 2018, using 1982 through 1986 as the
Although you should not expect a perfectly fitting model for any time-series data, you can consider the first differences, second differences, and percentage differences for a given series as guides
A time-series plot often helps you determine the appropriate model to use. For this problem, use each of the time series presented in the following table and stored in Time Series B.a. Plot the
Using the data for Problem 16.15 that represent the number of new, single-family houses sold in the United States from 1992 through 2018 (stored in House Sales),a. Fit a third-order autoregressive
Using the data for Problem 16.12 concerning the bonuses paid to workers on Wall Street from 2000 to 2018 (stored in Bonuses),a. Fit a third-order autoregressive model to the bonuses paid and test for
In forecasting a quarterly time series over the five-year period from the first quarter of 2014 through the fourth quarter of 2018, the exponential trend forecasting equation is given by w here
Are small and mid-sized business (SMB) owners concerned about limited access to money affecting their businesses? A sample of 150 female SMB owners and 146 male SMB owners revealed the following
Consumers are aware that companies share and sell their personal data in exchange for free services, but is it important to consumers to have a clear understanding of a company's privacy policy
If P(A) = 0.7, P(B) = 0.6, and A and Bare independent, find P(A and B).
Financial experts say retirement accounts are one of the best tools for saving and investing for the future. Are millennials and Gen Xers financially prepared for the future? A survey of American
How will marketers change their organic (unpaid) social media postings in the near future? A survey by Social Media Examiner reported that 65% of B2B marketers (marketers who focus primarily on
Are small and mid-sized business (SMB) owners concerned about limited access to money affecting their businesses? A sample of 150 female SMB owners and 146 male SMB owners revealed the following
Is there full support for increased use of educational technologies in higher ed? As part of Inside Higher Ed's 2018 Survey of Faculty Attitudes on Technology, academic professionals, namely,
Consumers are aware that companies share and sell their personal data in exchange for free services, but is it important to consumers to have a clear understanding of a company's privacy policy

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