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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Document preview page 1

Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 1

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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual

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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 1 preview imageCHAPTER1WHAT ISSTATISTICS?1.a.Intervalb.Ratioc.Ratiod.Nominale.Ordinalf.Ratiog.Nominalh.Ordinali.Nominalj.Ratio(LO1-6)2.a.Ratiob.Ratioc.Ratiod.Ratioe.Ratiof.Ratio(LO1-6)3.Answers will vary(LO1-6)4.a.Sampleb.Populationc.Populationd.Sample(LO1-3)5.Qualitative dataarenot numerical, whereas quantitative dataarenumerical. Exampleswill vary by student.(LO1-4)6.A population is the entire group which you are studying. A sample is a subset taken froma population.(LO1-3)7.Discrete variables can assume only certain values,whereas continuous variables canassume any value within a specific range. Examples will vary.(LO1-5)8.a.A sample is used because it is difficult to locate every student.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.continuous, quantitative, ratiob.discrete, qualitative, nominalc.discrete, quantitative, ratiod.discrete, qualitative, nominale.continuous, quantitative, intervalf.continuous, quantitative, interval
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 2 preview image
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 3 preview imageg.discrete, qualitative, ordinalh.discrete, qualitative, ordinali.discrete, quantitative, ratio(LO1-4, 1-5 & 1-6)10.The cell phone provider is nominal level data. The minutes used are ratio level.Satisfaction is ordinal level.(LO1-6)11.If you were usingone storeas typical of allof the stores selling electronic book readers in themallthen it would be sample data. However, if you were consideringall of the stores sellingelectronic book readers in the mall,then the data would be population data.(LO1-3)12.Various answers.(LO1-6)13.Based on these findings,we can infer that 270/300 or 90 percent of the executives wouldmove.(LO1-3)14.The clear majority of customerstested (400/500, or 80%) believe this take-out serviceisexcellent. Based on these findings, we can expect a similar proportion of all customers tofeel the same way.(LO1-3)15.a2015total sales = 1 000772; 2014total sales = 942 973; total salesincreasedabout 6% from 2014to 2015.b.Hockey (Men’s Finals)andHockey–Women’sexperienced losses of 17 and 19percent, respectively. Meanwhile,Hockey (Women’s Finals)gained 9.5 percentandFigure Skating–Juniorsabout 9 percent. So it would appear that there hasbeen a significant shift within the market from2014to 2015.(LO1-5)16.a.qualitativeb.nominal(LO1-4)17.a.quantitativeb.discretec.interval(LO1-4,1-5&1-6)18.a.quantitativeb.discretec.ratio(LO1-4,1-5&1-6)19.a.quantitativeb.discretec.ratio(LO1-4,1-5&1-6)20.sample(LO1-3)21.a.quantitativeb.continuousc.ratio(LO1-4,1-5&1-6)22.population(LO1-3)23.sample(LO1-3)
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 4 preview image24.a.qualitativeb.nominal(LO1-4&1-6)25.a.qualitativeb.nominal(LO1-4&1-6)26.a.Qualitative:listing number,type,title and areaQuantitative: list price, number ofbedroomsandnumber ofbathrooms.b.Listing number, type, title and area arenominal; the rest are ratio.(LO1-4&1-6)27.a.Cityis a qualitative variable;Jobless Rateisquantitative.b.Cityis a nominal level variable;Jobless Rateisratio level.(LO1-4&1-6)28.a.Women and men arequalitativevariables; the others are quantitative.b.Year isinterval;women and men are nominal; earnings ratio isratio.(LO1-4&1-6)29.a.Region is a qualitative variable; average house price is quantitative.b.Region is nominal; average house price is ratio.(LO1-4&1-6)
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 5 preview imageChapter 21CHAPTER2DESCRIBINGDATA:FREQUENCYDISTRIBUTIONS ANDGRAPHICPRESENTATION1.Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. MancellElectric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with the leastamount of fourth quarter sales.0100002000030000HodenJ & RLong BayMancellMaxwellMizelleMaxwell has the highest sales, and Mizelle the lowest.(LO2-2)2.Three classes are needed, one for each player.(LO2-1)3.There are four classes: winter, spring, summer, and fall.The relative frequencies are 0.1, 0.3, 0.4, and 0.2, respectively.(LO2-1)4.a.(LO2-2)
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 6 preview imageChapter 22b.Aboriginal IdentityNumberRelative FrequencyPercentFirst Nations851 5600.60860.8Métis451 7950.32332.3Inuit59 4450.0424.2Other26 4750.0191.9Multiple identities11 4150.0080.8Aboriginal IdentityNumberPercentFirst Nations851 56060.8Métis451 79532.3Inuit59 4454.2Other26 4751.9Multiple identities11 4150.8(LO2-1)c.(LO2-3)
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 7 preview imageChapter 235.a.ColorFrequencyRedOrangeLimeBlackWhite5004003002001000Chart of Frequency vs Color(LO2-2)b.TypeNumberRelative FrequenciesBright white1300.10Metallic black1040.08Magnetic lime3250.25Tangerine orange4550.35Fusion red2860.22Total13001.00(LO2-1)
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 8 preview imageChapter 24c.22.0%Red35.0%Orange25.0%Lime8.0%Black10.0%WhitePie Chart of Frequency vs Color(LO2-3)6.Student loan amounts for 2014.Susan Chan’s loan is the largest.(LO2-2)7.232 26456,;therefore 6 classes(LO2-4)8.25= 32, 26= 64 suggests 6 classes.$29$04.476iUse interval of 5.(LO2-4)9.27= 128, 28= 256 suggests 8 classes567235418i.5Use interval of42 or45.(LO2-4)10.a.25= 32, 26= 64 suggests 6 classes.b.12942146iUse interval of 15 and start first class at 40.(LO2-4)11.a.24=16 suggests 5 classesb.(31-25)/5 =6/5 = 1.2Use interval of 1.5c.24
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 9 preview imageChapter 25d.UnitsfRelative frequency24 tounder25.520.12525.5 tounder2740.25027 tounder28.580.50028.5tounder3000.00030 tounder31.520.125Total161.000e.The largest concentration is in the 27 up to 28.5 class (8).(LO2-4&5)12.a.24= 16, 25= 32, suggest 5 classesb.47/5 = 9.4Use interval of 10.c.50d.fRelative frequency50 tounder6040.2060 tounder7050.2570 tounder8060.3080 tounder9020.1090 tounder10030.15Total201.00e.The fewest number is about 50, the highest about 100. The greatest concentration is inclasses 60 up to 70 and 70 up to 80.(LO2-4&5)Shoppersf13.a.0 tounder393 tounder6216 tounder9139 tounder12412 tounder15315 tounder181Total51b.The largest group of shopper’s (21) shop atBiLo Supermarket3, 4 or 5 times during amonthand one customer visits the storeas many as 15 timesin a month.c.Number ofPercent ofRelative FrequencyShoppersTotal0 tounder317.650.17653 tounder641.180.41186 tounder925.490.25499 tounder127.840.078412 tounder155.880.058815 tounder181.960.0196Total100.001.0000(LO2-4&5)14.a.An interval of 10 is more convenient to work with. The distribution using 10 is:f15 tounder25125 tounder35235to under45545to under551055to under651565to under75475to under853
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 10 preview imageChapter 26Total40b.Data tends to cluster in classes 45 up to 55 and 55 up to 65.c.Based on the distribution, theleast spent is $15 (actually$18 from the raw data). Themost spent wasless than$85. The largest concentration ofspendingis between$45 up to$65.d.$ SpentPercent ofRelative FrequencyTotal15to under252.50.02525to under355.00.05035to under4512.50.12545to under5525.00.25055to under6537.50.37565to under7510.00.10075to under857.50.075Total100.01.000(LO2-4&5)15.a.Histogramb.100c.5d.28e.0.28f.12.5g.13(LO2-5&6)16.a.3b.approximately 27c.84d.2e.frequency polygon(LO2-6)17.a.50b.1.5 thousands or 1500 milesc.Using lower limits on the X-axis
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 11 preview imageChapter 27d.1.5,5e.f.Most between 6000-9000, even spread on both sides(LO2-6)18.a.40b.2.5c.2.5, 6 (always draw a frequency polygon using the midpoints)d.
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 12 preview imageChapter 28
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 13 preview imageChapter 29e.f.Most orders take around 10-15 days.(LO26)19.a.40b.5c.11 or 12d.about $18 per houre.about $9 per hourf.about 75%(LO2-7)20.a.200b.50 or $50,000c.approximately$175,000d.about $240,000e.about 60 homesf.about 130 homes(LO2-7)21.a.5Cumulative Frequencyb.MilesfLess than0to under3553to under612176to under923409to under1284812to under15250c.
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 14 preview imageChapter 210d.about 8500 miles(LO2-7)22.a.MilesfMore than0 to under 35503 to under 612456 to under 923339 to under 1281012 to under 1522b.c.about 7500 miles(LO2-7)23.a.13, 25Cumulative Frequencyb.Lead TimefLess than0to under5665to under1071310to under15122515to under2083320to under25740c.
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 15 preview imageChapter 211d.About 14 dayse.27; 15(LO2-7)24.a.Lead TimefMore than0 to under 56405 to under 1073410 to under 15122715 to under 2081520 to under 2577b.c.About 18 days(LO2-7)25.a.621to629b.5c.621, 623, 623, 627, 629(LO2-8)26.a.210-219b.6c.210, 211, 213, 215, 217, 219(LO2-8)27.a.25b.1c.38, 106d.60, 61, 63, 63, 65, 65, 69e.No valuesf.9
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Basic Statistics For Business And Economics, First Canadian Edition Solution Manual - Page 16 preview imageChapter 212g.9h.76i.16(LO2-8)28.a.50b.onec.126, 270d.155, 158, 159e.No valuesf.13g.12h.193.5i.19(LO2-8)29.StemLeaves0512823002478941236652There were a total of 16 calls studied. The number of calls ranged from 5 to 52 received.Typical was 30-39 calls, smallest was 5, largest was 52(LO2-8)30.StemLeaves3647522499601134587035678803444479055The daily usage ranged from 36 to 95. In a typical day the ATM istypically usedbetween 52-87 times, smallest was 36, largest was 95; clustered between 52-87 times(LO2-8)31.a. Qualitative variables are ordinarily nominal level of measurement, but some areordinal.Quantitative variables are commonly of interval or ratio level of measurement.b. Yes, both types depict samples and populations.(LO2-1)32.a.
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Basic Statistics For Business Econo...

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