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

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    C HAPTER 1 W HAT IS S TATISTICS ? 1. a. Interval b. Ratio c. Ratio d. Nominal e. Ordinal f. Ratio g. Nominal h. Ordinal i. Nominal j. Ratio (LO 1 - 6 ) 2. a. Ratio b. Ratio c. Ratio d. Ratio e. Ratio f. Ratio (LO 1 - 6 ) 3. Answers will vary (LO 1 - 6 ) 4. a. Sample b. Population c. Population d. Sample (LO 1 - 3 ) 5. Qualitative data are not numerical, whereas quantitative data are numerical. Examples will vary by student. (LO 1 - 4 ) 6. A population is the entire group which you are studying. A sample is a subset taken from a population. (LO 1 - 3 ) 7. Discrete variables can assume only certain values, whereas continuous variables can assume any value within a specific range . Examples will vary. (LO 1 - 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. (LO 1 - 3 ) 9. a. continuous, quantitative, ratio b. discrete, qualitative, nominal c. discrete, quantitative, ratio d. discrete, qualitative, nominal e. continuous, quantitative, interval f. continuous, quantitative, interval

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    g. discrete, qualitative, ordinal h. discrete, qualitative, ordinal i. discrete, quantitative, ratio (LO 1 - 4, 1 - 5 & 1 - 6 ) 10. The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction is ordinal level. (LO 1 - 6 ) 11. If you were using one store as typical of all of the stores selling electronic book rea d ers in the mall then it would be sample data. However, if you were considering all of the stores selling ele c tronic book readers in the mall, then the data would be population data. (LO 1 - 3 ) 12. Various answers. (LO 1 - 6 ) 13. Based on these findings, we can infer that 270/300 or 90 percent of the executives would move. (LO 1 - 3 ) 14. The clear majority of c ustomers tested (400/500, or 80%) believe this t ake - out service is excellent. Based on these findings, we can expect a similar proportion of all c ustomers to feel the same way. (LO 1 - 3 ) 15. a 20 1 5 total sales = 1 00 0 77 2 ; 20 1 4 total sales = 94 2 973 ; total sales increased about 6% from 20 1 4 to 20 1 5 . b. Hockey (Men’s Finals) and Hockey – Women’s experienced losses of 17 and 19 percent, respectively. Meanwhile, Hockey (Women’s Finals) gained 9.5 percent and Figure Skating – Juniors about 9 percent. So it would appear that there has been a significant shift within the market from 201 4 to 201 5 . (LO 1 - 5) 16. a. qualitative b. nominal (LO1 - 4) 17. a. quantitative b. discrete c. interval (LO1 - 4, 1 - 5 & 1 - 6) 18. a. quantitative b. discrete c. ratio (LO1 - 4, 1 - 5 & 1 - 6) 19. a. quantitative b. discrete c. ratio (LO1 - 4, 1 - 5 & 1 - 6) 20. sample (LO1 - 3) 21. a. quantitative b. continuous c. ratio (LO1 - 4, 1 - 5 & 1 - 6) 22. population (LO1 - 3) 23. sample (LO1 - 3)

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    24. a. qualitative b. nominal (LO1 - 4 & 1 - 6) 25. a. qualitative b. nominal (LO1 - 4 & 1 - 6) 26. a. Qualitative: listing number, type , title and area Q uantitative : list price, number of bedrooms and number of bath room s. b. Listing number, t ype , title and area are nominal; the rest are ratio. (LO 1 - 4 & 1 - 6 ) 27. a. City is a qualitative variable; Jobless Rate is quantitative. b. City is a nominal level variable; Jobless Rate is ratio level . (LO 1 - 4 & 1 - 6 ) 2 8 . a. Women and men are qua litative variable s ; the others are qua ntitative. b. Year is interval ; women and men are nominal; earnings ratio is ratio. (LO 1 - 4 & 1 - 6 ) 2 9 . a. Region is a qualitative variable; average house price is quantitative. b. Region is nominal; average house price is ratio. (LO 1 - 4 & 1 - 6 )

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    Chapter 2 1 C HAPTER 2 D ESCRIBING D ATA : F REQUENCY D ISTRIBUTIONS AND G RAPHIC P RESENTATION 1. Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancell E lectric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with the least amount of fourth quarter sales. 0 10000 20000 30000 Hoden J & R Long Bay Mancell Maxwell Mizelle Maxwell has the highest sales, and Mizelle the lowest. (LO2 - 2) 2. Three classes are needed, one for each player. (LO 2 - 1) 3. There are four classes: winter, spring, summer, and fall. T he relative frequencies are 0.1, 0.3, 0.4, and 0.2, respectively. (LO 2 - 1) 4. a. (LO2 - 2)

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    Chapter 2 2 b. Aboriginal Identity Number Relative Frequency Percent First Nations 851 560 0.608 60.8 Métis 451 795 0.323 32.3 Inuit 59 445 0.042 4.2 Other 26 475 0.019 1.9 Multiple identities 11 415 0.008 0.8 Aboriginal Identity Number Percent First Nations 851 560 60.8 Métis 451 795 32.3 Inuit 59 445 4.2 Other 26 475 1.9 Multiple identities 11 415 0.8 (LO2 - 1) c. (LO2 - 3)

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    Chapter 2 3 5. a. Color Frequency Red Orange Lime Black White 500 400 300 200 100 0 Chart of Frequency vs Color (LO2 - 2) b. Type Number Relative Frequencies Bright white 130 0.10 Metallic black 104 0.08 Magnetic lime 325 0.25 Tangerine orange 455 0.35 Fusion red 286 0.22 Total 1300 1.00 (LO2 - 1)

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    Chapter 2 4 c. 22.0% Red 35.0% Orange 25.0% Lime 8.0% Black 10.0% White Pie Chart of Frequency vs Color (LO2 - 3 ) 6. Student loan amounts for 20 1 4 . Susan Chan’s loan is the largest. (LO2 - 2 ) 7 . 2 32 2 64 5 6   , ; therefore 6 classes (LO 2 - 4 ) 8 . 2 5 = 32, 2 6 = 64 suggests 6 classes. $29 $0 4.47 6 i    Use interval of 5. (LO 2 - 4 ) 9 . 2 7 = 128, 2 8 = 256 suggests 8 classes 567 235 41 8 i    .5 Use interval of 42 or 45. (LO 2 - 4 ) 10 . a. 2 5 = 32, 2 6 = 64 suggests 6 classes. b. 129 42 14 6 i    Use interval of 15 and start first class at 40. (LO 2 - 4 ) 11 . a. 2 4 =16 suggests 5 classes b. (31 - 25)/5 = 6/5 = 1.2 Use interval of 1.5 c. 24

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    Chapter 2 5 d. Units f Relative frequency 24 to under 25.5 2 0.125 25.5 to under 27 4 0.250 27 to under 28.5 8 0.500 28.5 to under 30 0 0.000 30 to under 31.5 2 0.125 Total 16 1.000 e. The largest concentration is in the 27 up to 28.5 class (8). (LO 2 - 4 &5 ) 12 . a. 2 4 = 16, 2 5 = 32, suggest 5 classes b. 47/5 = 9.4 Use interval of 10. c. 50 d. f Relative frequency 50 to under 60 4 0.20 60 to under 70 5 0.25 70 to under 80 6 0.30 80 to under 90 2 0.10 90 to under 100 3 0.15 Total 20 1.00 e. The fewest number is about 50, the highest about 100. The greatest concentration is in classes 60 up to 70 and 70 up to 80. (LO 2 - 4 &5 ) Shoppers f 13 . a. 0 to under 3 9 3 to under 6 21 6 to under 9 13 9 to under 12 4 12 to under 15 3 15 to under 18 1 Total 51 b. The largest group of shopper’s (21) shop at BiLo Supermarket 3, 4 or 5 times during a month and one customer visits the store as many as 15 times in a month . c. Number of Percent of Relative Frequency Shoppers Total 0 to under 3 17.65 0.1765 3 to under 6 41.18 0.4118 6 to under 9 25.49 0.2549 9 to under 12 7.84 0.0784 12 to under 15 5.88 0.0588 15 to under 18 1.96 0.0196 Total 100.00 1.0000 (LO 2 - 4 &5 ) 14 . a. An interval of 10 is more convenient to work with. The distribution using 10 is: f 15 to under 25 1 25 to under 35 2 35 to under 45 5 45 to under 55 10 55 to under 65 15 65 to under 75 4 75 to under 85 3

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    Chapter 2 6 Total 40 b. Data tends to cluster in classes 45 up to 55 and 55 up to 65. c. Based on the distribution, the least spent is $ 15 (actually $ 18 from the raw data). The most spent was less than $ 85. The largest concentration of spending is between $ 45 up to $ 65. d. $ Spent Percent of Relative Frequency Total 15 to under 25 2.5 0.025 25 to under 35 5.0 0.050 35 to under 45 12.5 0.125 45 to under 55 25.0 0.250 55 to under 65 37.5 0.375 65 to under 75 10.0 0.100 75 to under 85 7.5 0.075 Total 100.0 1.000 (LO 2 - 4 &5 ) 15 . a. Histogram b. 100 c. 5 d. 28 e. 0.28 f. 12.5 g. 13 (LO 2 - 5& 6 ) 1 6 . a. 3 b. a pproximately 27 c. 84 d. 2 e. frequency polygon (LO 2 - 6 ) 1 7 . a. 50 b. 1.5 thousands or 1500 miles c. Using lower limits on the X - axis

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    Chapter 2 7 d. 1.5, 5 e. f. Most between 6000 - 9000, even spread on both sides (LO 2 - 6 ) 1 8 . a. 40 b. 2.5 c. 2.5, 6 (always draw a frequency polygon using the midpoints) d.

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    Chapter 2 8

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    Chapter 2 9 e. f. Most orders take around 10 - 15 days. (LO 26 ) 1 9 . a. 40 b. 5 c. 11 or 12 d. about $18 per hour e. about $9 per hour f. about 75% (LO 2 - 7 ) 20 . a. 200 b. 50 or $50,000 c. a pproximately $1 75 ,000 d. about $240,000 e. about 60 homes f. about 130 homes (LO 2 - 7 ) 21 . a. 5 Cumulative Frequency b. Miles f Less than 0 to under 3 5 5 3 to under 6 12 17 6 to under 9 23 40 9 to under 12 8 48 12 to under 15 2 50 c.

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    Chapter 2 10 d. a bout 8 5 00 miles (LO2 - 7) 22. a. Miles f More than 0 to under 3 5 50 3 to under 6 12 45 6 to under 9 23 33 9 to under 12 8 10 12 to under 15 2 2 b. c . about 7500 miles (LO2 - 7) 2 3 . a. 13, 25 Cumulative Frequency b. Lead Time f Less than 0 to under 5 6 6 5 to under 10 7 13 10 to under 15 12 25 15 to under 20 8 33 20 to under 25 7 40 c.

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    Chapter 2 11 d. About 14 days e. 27 ; 15 (LO2 - 7) 24. a. Lead Time f More than 0 to under 5 6 40 5 to under 10 7 34 10 to under 15 12 27 15 to under 20 8 15 20 to under 25 7 7 b. c. About 18 days (LO2 - 7) 2 5 . a. 621 to 629 b. 5 c. 621, 623, 623, 627, 629 (LO 2 - 8 ) 2 6 . a. 210 - 219 b. 6 c. 210, 211, 213, 215, 217, 219 (LO 2 - 8 ) 2 7 . a. 25 b. 1 c. 38, 106 d. 60, 61, 63, 63, 65, 65, 69 e. No values f. 9

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    Chapter 2 12 g. 9 h. 76 i. 16 (LO 2 - 8 ) 2 8 . a. 50 b. one c. 126, 270 d. 155, 158, 159 e. No values f. 13 g. 12 h. 193 .5 i. 19 (LO 2 - 8 ) 2 9 . Stem Leaves 0 5 1 28 2 3 0024789 4 12366 5 2 There 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 (LO 2 - 8 ) 30 . Stem Leaves 3 6 4 7 5 22499 6 0113458 7 035678 8 0344447 9 055 The daily usage ranged from 36 to 95. In a typical day the ATM is typically used between 52 - 87 times, smallest was 36, largest was 95; clustered between 52 - 87 times (LO 2 - 8 ) 31. a. Qualitative variables are ordinarily nominal level of measurement, but some are ordinal. Quantitative variables are commonly of interval or ratio level of measurement. b. Yes, both types depict samples and populations. (LO2 - 1) 3 2 . a.

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