Solution Manual For Statistical Techniques In Business And Economics, 16th Edition

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Chapter 01-What Is Statistics?1-1Chapter 1WhatIs Statistics?1.a.Intervalb.Ratioc.Nominald.Nominale.Ordinalf.Ratio(LO1-5)2.a.Ratiob.Nominalc.Ratiod.Ratio(LO1-5)3.Answer will vary.(LO1-5)4.a.Sampleb.Populationc.Populationd.Sample(LO1-3)5.Qualitative data is not numerical, whereas quantitative data is numerical. Examples will varyby student.(LO1-4)6.A population is the entire group which you are studying. A sample is a subset taken from apopulation.(LO1-3)7.Discrete variables can assume only certain values, but continuous variables can assume anyvalues within some range. Examples will vary.(LO1-4)8.a.Apopulation is used because the professor likely has grades readily available fromevery student over the past 5 years.b.A population is employed because the information is easy to find.c.A population is used because the information is easy to find.d.A sample works because it is difficult to locate every musical.(LO1-3)9.a.Ordinalb.Ratioc.The newer system provided information on the distance between exits.(LO1-5)10.The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction isordinal level.(LO1-5)11.If you were using this store as typical of all Barnes & Noble stores then it would be sampledata.However, if you were considering it as the only store of interest, then the data would bepopulation data.(LO1-3)12.In a presidential election all votes are counted, thus it is similar to a census of the entirepopulation.However, an “exit” poll consists of only some voters and thus is more like asample of the entire population.(LO1-3)

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Chapter 01-What Is Statistics?1-213.DiscreteContinuousQualitativeb. Genderd. Soft drink preferenceg. Student rank in classh. Rating of a finance professorQuantitativec. Sales volume of MP3 playersf. SAT scoresi. Number of home computersa. Salarye. TemperatureDiscreteContinuousNominalb. GenderOrdinald. Soft drink preferenceg. Student rank in classh. Rating of a finance professorIntervalf. SAT scorese. TemperatureRatioc. Sales volume of MP3 playersi. Number of home computersa. Salary(LO1-4 and LO1-5)14.Answers will vary.(LO1-5)15.As a result of these sample findings, we can conclude that 120/300 or 40% of the white-collarworkers would transfer outside the U.S.(LO1-3)16.The obvious majority of consumers (400/500, or 80%) believe the policy is fair. On thestrength of these findings, we can anticipate a similar proportion of all customers to feel thesame.(LO1-3)17.a.Total sales increased by736,725, found by1,886,021–1,149,296, which isa64.1%increase (736,725/1,149,296)b.Market sharesthrough Februaryin 2013and 2009, respectively, are:General Motors18.8%18.8%Ford Motor16.2%13.8%Toyota14.5%16.9%Chrysler11.5%10.9%American Honda9.0%10.6%Nissan NA8.1%8.0%Hyundai4.3%4.1%Mazda2.1%2.4%Ford has gained2.4%,Toyota lost2.3%and Honda lost 1.6%of their market shares.c.Percent changesin salesare:General Motors165.8%Ford Motor194.4%Toyota142.9%

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Chapter 01-What Is Statistics?1-3Chrysler175.6%American Honda141.4%Nissan NA167.0%Hyundai174.2%Mazda145.4%Ford had the largest percentage change in sales (194.4%). While Toyota, Honda andMazda had the smallest percentage increases (around 142%).(LO1-2)18.The total amount spent is $603.86.The percents by group are: 75, 14, 4, and 7, respectively.(LO1-2)19.Earnings increase about $3 billion per year over the period. However 2008 sees a very largeincrease and 2009 sees a large decrease.Perhaps $15 billion of 2008 earnings were somehow “advanced” from the next year or two?(LO1-2)20.a.Township is qualitative variable, the others are quantitative.(LO1-4)b.Township is nominal level variable, the others are ratio level variables.(LO1-5)21.a.League is a qualitative variable; the others are quantitative.(LO1-4)b.League is a nominal level variable; the others are ratio level variables.(LO1-5)22.a.Bus Number, Type and Manufacturer are qualitative variables, the others arequantitative.(LO1-4)b.Bus Number, Type and Manufacturer are nominal level variables; the others are ratiolevel variables.(LO1-5)

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-1Chapter 2Describing Data:FrequencyTables, FrequencyDistributions,andGraphic Presentation1.Pepsi-Cola has a 25% market share, found by 90/360.(LO2-2)2.Three classes are needed, one for each player.(LO2-1)3.SeasonFrequencyRelative FrequencyWinter1000.1Spring3000.3Summer4000.4Fall2000.2Total10001.0(LO2-1)4.CityFrequencyRelative FrequencyIndianapolis1000.05St. Louis4500.225Chicago13000.65Milwaukee1500.075(LO2-1)5.a. A frequency table.ColorFrequencyRelative FrequencyBright White1300.10Metallic Black1040.08Magnetic lime3250.25Tangerine Orange4550.35Fusion Red2860.22Total13001.00b.

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-2

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-3c.d.Wellstone Inc. should produce350,000 orange; 250,000 lime; 220,000 red; 100,000 white,and 80,000 black. These numbers arefound by multiplyingtherelative frequencyof eachcolorbythe1,000,000 productionlevel.(LO2-2)6.Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancellelectric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with theleast amount of fourth quarter sales.(LO2-2)MizelleMaxwellMancellLong BayJ & RHoden2500020000150001000050000CorporationSalesChart of Sales7.25= 32 < 38 < 64 = 26therefore6 classes(LO2-3)8.25= 32< 45 < 64 = 26suggests 6 classes.$29$04.476i−=Use interval of 5.(LO2-3)9.27= 128< 230 < 256 =28suggests 8 classes56723541.58i−=Use interval of 45.(LO2-3)

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-410.a.25= 32< 53 < 64 = 26suggests6 classes.b.1294214.56i−=Use interval of 15 and start first class at 40.(LO2-3)

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-511.a.24=16 suggests 5 classesb.31251.25i−=Use interval of 1.5c.24d.fRelative frequency24 up to 25.520.12525.5 up to 2740.25027 up to 28.580.50028.5 up to 3000.00030 up to 31.520.125Total161.000e.The number of units produced in the past 16 days range between 24 and 31 units.The largest concentration is in the 27 up to 28.5 class (8).(LO2-3)12.a.24= 16< 20 < 32 =25suggest 5 classesb.98519.45i−=Use interval of 10.c.50d.fRelative frequency50 up to 6040.2060 up to 7050.2570 up to 8060.3080 up to 9020.1090 up to 10030.15Total201.00e.The fewest number is about 50, the highest about 100. The greatest concentration is inclasses 60 up to 70 and 70 up to 80.(LO2-3)Visitsf13.a.0 up to 393 up to 6216 up to 9139 up to 12412 up to 15315 up to 181Total51b.The largest group of shoppers (21) shop at BiLo 3, 4 or 5 times during a month period.Some customers visit the store only 1 time during the month, but others shop as manyas 15 times.c.Number ofPercent ofVisitsTotal0 up to 317.653 up to 641.186 up to 925.499 up to 127.8412 up to 155.8815 up to 181.96Total100.00(LO2-3)

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-614.a.The 2krule would suggest 6 classes as 25= 32 < 40 < 64 = 26. With six classes theinterval would be larger than (84–18) / 6 = 11, but as we are summarizing moneyobservations a classinterval of 10 is more convenient to work with.Thefrequencyusing 10 is:f15 up to 25125 up to 35235 up to 45545 up to 551055 up to 651565 up to 75475 up to 853Total40b.Data tends to cluster in classes 45 up to 55 and 55 up to 65.c.Based on the, the youngest person taking the Caribbean cruise is 15 years(actually 18 from the raw data). The oldest person was less than 85 years(actually 84from the raw data). The largest concentration of ages is between 45 up to 65 years.d.AgesPercent ofTotal15 up to 252.525 up to 355.035 up to 4512.545 up to 5525.055 up to 6537.565 up to 7510.075 up to 857.5Total100.0(LO2-3)15.a.Histogramb.100c.5d.28e.0.28f.12.5g.13(LO2-4)16.a.3b.about 26c.2d.frequency polygon(LO2-4)

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-717.a.50b.1.5 thousandfrequent fliermilesc.d.X = 1.5, Y = 5e.f.For the 50 employees about half earn between 6 and9thousand frequent flier miles.Five earn less than 3 thousand frequent flier miles, and two earn more than 12thousand frequent flier miles.(LO2-4)18.a.40b.2.5daysc.2.5,6d.

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-8e.e.f.Based on the charts, the shortest lead time is 0 days, the longest 25 days.The concentration of lead times is 10-15 days.(LO2-4)19.a.40b.5c.11 or 12d.about $18 per houre.about $9 per hourf.about 78%(LO2-4)20.a.200b.50 or $50,000c.about $180,000d.about $240,000d.about 60 homese.about145homes(LO2-4)21.a.5b.MilesCF

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-9Less than 35Less than 617Less than 940Less than 1248Less than 1550c.d.about 8.7thousandfrequent fliermiles(LO2-4)

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-1022.a.13, 25b.Lead TimeCFLess than 56Less than 1013Less than 1525Less than 2033Less than 2540c.d.14(LO2-4)23.a. Qualitative variables are ordinarily nominal level of measurement, but some are ordinal.Quantitative variables are commonly of interval or ratio level of measurement.(LO1-5)b. Yes, both types depict samples and populations.(LO1-3)24.A frequency table calls for qualitative data. On the other hand, a frequencyinvolves quantitative data.(LO2-1 and 2-3)25.a. A frequency table.b.

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-11c.d.The pie chart may be easier to comprehendas the percentages of potential customersare likely more important than the number of potential customers.(LO2-2)26.a.The scale is ordinal and the variable is qualitative.b.PerformanceFrequencyEarly22On-time67Late9Lost2c.PerformanceRelative FrequencyEarly.22On-time.67Late.09Lost.02d.

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Chapter02-Describing Data: FrequencyTables,FrequencyDistributions,and Graphic Presentation2-12e.67.0%On-time2.0%Lost9.0%Late22.0%EarlyDelivery Performancef.89% of the packages are either early or on-time and 2% of the packages are lost. Sothey are missing both of their objectives. They must eliminate all lost packages andreduce the late percentage to below 1%.(LO2-2)27.The 2krule would suggest using 7 classes as 26= 64 < 83 < 128 = 27.(LO2-3)28.27= 128< 145 < 256 =28suggests 8 classes.4905654.258i−=Use interval of 60.(LO2-3)29.a.5 because24= 16 < 25 < 32 = 25b.48166.45i−=suggests aninterval of 7.c. 15d.ClassFrequency15 up to 22322 up to 29829 up to 36736 up to 43543 up to 502Total25e.Based on the frequencywe see the data arefairly symmetric with most ofthevalues between 22 and 36and a minimum of 15 and a maximum of 50.(LO2-3)30.a.6 because25= 32 < 45 < 64 = 26b.100,suggested as the interval must be larger thani≥5704188.176−=c.0d.ClassFrequency0 up to 1003100 up to 20012200 up to 30016300 up to 40010400 up to 5003500 up to 6001Total45(LO2-3)

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