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

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    Chapte r 01 - What I s Statistics? 1 - 1 Chapter 1 What I s Statistics? 1. a. Interval b. Ratio c. Nominal d. Nominal e. Ordinal f. Ratio (LO 1 - 5 ) 2. a. Ratio b. Nominal c. Ratio d. Ratio (LO 1 - 5 ) 3. Answer will vary. (LO 1 - 5 ) 4. a. Sample b. Population c. Population d. Sample (LO 1 - 3) 5. Qualitative data is not numerical, whereas quantitative data is 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, but continuous variables can assume any values within some range. Examples will vary. (LO 1 - 4 ) 8. a. A population is used because the professor likely has grades readily available from every 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. (LO 1 - 3) 9. a. Ordinal b. Ratio c. The newer system provided information on the distance between exits. (LO 1 - 5 ) 10. The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction is ordinal level. (LO 1 - 5 ) 11. If you were using this store as typical of all Barnes & Noble stores then it would be sample data. However, if you were considering it as the only store of interest, then the data would be population data. (LO 1 - 3) 12 . In a presidential election all votes are counted, thus it is similar to a census of the entire population. However, an “exit” poll consists of only some voters and thus is more like a sample of the entire population. (LO 1 - 3)

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    Chapte r 01 - What I s Statistics? 1 - 2 13. Discrete Continuous Qualitative b. Gender d. Soft drink preference g. Student rank in class h. Rating of a finance professor Quantitative c. Sales volume of MP3 players f. SAT scores i. Number of home computers a. Salary e. Temperature Discrete Continuous Nominal b. Gender Ordinal d. Soft drink preference g. Student rank in class h. Rating of a finance professor Interval f. SAT scores e. Temperature Ratio c. Sales volume of MP3 players i. Number of home computers a. Salary (LO1 - 4 and LO1 - 5) 14. Answers will vary. (LO 1 - 5 ) 15. As a result of these sample findings, we can conclude that 120/300 or 40% of the white - collar workers would transfer outside the U.S. (LO 1 - 3 ) 16. The obvious majority of consumers (400/500, or 80%) believe the policy is fair. On the strength of these findings, we can anticipate a similar proportion of all customers to feel the same. (LO 1 - 3 ) 17. a. Total sales increased by 736,725 , found by 1,886,021 – 1,149, 296 , which is a 64.1 % increase (736,725/1,149,296) b. Market shares through February in 201 3 and 2009, respectively, are: General Motors 18.8 % 18.8 % Ford Motor 1 6 . 2 % 13.8 % Toyota 1 4.5 % 1 6.9 % Chrysler 1 1.5 % 1 0.9 % American Honda 9.0 % 1 0.6 % Nissan NA 8.1 % 8.0 % Hyundai 4.3 % 4. 1 % Mazda 2. 1 % 2. 4 % Ford has gained 2.4 % , Toyota lost 2.3 % and Honda lost 1.6% of their market shares. c. Percent changes in sales are: General Motors 165.8 % Ford Motor 1 94.4 % Toyota 142.9 %

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    Chapte r 01 - What I s Statistics? 1 - 3 Chrysler 175.6 % American Honda 141.4 % Nissan NA 167.0 % Hyundai 174.2 % Mazda 145.4 % Ford had the largest percentage change in sales (194.4%). While Toyota, Honda and Mazda 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 large increase 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. (LO 1 - 4) b. Township is nominal level variable, the others are ratio level variables. (LO 1 - 5 ) 21. a. League is a qualitative variable; the others are quantitative. (LO 1 - 4) b. League is a nominal level variable; the others are ratio level variables. (LO 1 - 5 ) 22. a. Bus Number, Type and Manufacturer are qualitative variables, the others are quantitative. (LO 1 - 4) b. Bus Number, Type and Manufacturer are nominal level variables; the others are ratio level variables. (LO 1 - 5 )

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 1 Chapter 2 Describing Data: Frequency Tables, Frequency Distributions , and Graphic Presentation 1. Pepsi - Cola has a 25% market share, found by 90/360. (LO 2 - 2 ) 2. Three classes are needed, one for each player. (LO 2 - 1) 3. Season Frequency Relative Frequency Winter 100 0.1 Spring 300 0.3 Summer 400 0.4 Fall 200 0.2 Total 1000 1.0 (LO 2 - 1) 4. City Frequency Relative Frequency Indianapolis 100 0.05 St. Louis 450 0.225 Chicago 1300 0.65 Milwaukee 150 0.075 (LO2 - 1) 5. a. A frequency table. Color Frequency Relative Frequency 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 b.

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 2

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 3 c. d. Wellstone Inc. should produce 350,000 orange; 250,000 lime; 220,000 red; 100,000 white, and 80,000 black . These numbers are found by multiplying the relative frequency of each color by the 1,000,000 production level . (LO 2 - 2 ) 6. Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancell electric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with the least amount of fourth quarter sales. (LO 2 - 2) Mizelle Maxwell Mancell Long Bay J & R Hoden 25000 20000 15000 10000 5000 0 Corporation Sales Chart of Sales 7. 2 5 = 32 < 38 < 64 = 2 6 therefore 6 classes (LO 2 - 3 ) 8. 2 5 = 32 < 45 < 64 = 2 6 suggests 6 classes. $29 $0 4.47 6 i −  = Use interval of 5. (LO 2 - 3 ) 9. 2 7 = 128 < 230 < 256 = 2 8 suggests 8 classes 567 235 41.5 8 i −  = Use interval of 45. (LO 2 - 3 )

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 4 10. a. 2 5 = 32 < 53 < 64 = 2 6 suggests 6 classes. b. 129 42 14.5 6 i −  = Use interval of 15 and start first class at 40. (LO 2 - 3 )

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 5 11. a. 2 4 =16 suggests 5 classes b. 31 25 1.2 5 i −  = Use interval of 1.5 c. 24 d. f Relative frequency 24 up to 25.5 2 0.125 25.5 up to 27 4 0.250 27 up to 28.5 8 0.500 28.5 up to 30 0 0.000 30 up to 31.5 2 0.125 Total 16 1.000 e. 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). (LO 2 - 3 ) 12. a. 2 4 = 16 < 20 < 32 = 2 5 suggest 5 classes b. 98 51 9.4 5 i −  = Use interval of 10. c. 50 d. f Relative frequency 50 up to 60 4 0.20 60 up to 70 5 0.25 70 up to 80 6 0.30 80 up to 90 2 0.10 90 up to 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 - 3 ) Visits f 13. a. 0 up to 3 9 3 up to 6 21 6 up to 9 13 9 up to 12 4 12 up to 15 3 15 up to 18 1 Total 51 b. 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 many as 15 times. c. Number of Percent of Visits Total 0 up to 3 17.65 3 up to 6 41.18 6 up to 9 25.49 9 up to 12 7.84 12 up to 15 5.88 15 up to 18 1.96 Total 100.00 (LO 2 - 3 )

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 6 14. a. The 2 k rule would suggest 6 classes as 2 5 = 32 < 40 < 64 = 2 6 . With six classes the interval would be larger than (84 – 18) / 6 = 11, but as we are summarizing money observations a class interval of 10 is more convenient to work with. The frequency using 10 is: f 15 up to 25 1 25 up to 35 2 35 up to 45 5 45 up to 55 10 55 up to 65 15 65 up to 75 4 75 up to 85 3 Total 40 b. 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 84 from the raw data) . The largest concentration of ages is between 45 up to 65 years. d. Ages Percent of Total 15 up to 25 2.5 25 up to 35 5.0 35 up to 45 12.5 45 up to 55 25.0 55 up to 65 37.5 65 up to 75 10.0 75 up to 85 7.5 Total 100.0 (LO 2 - 3 ) 15 . a. Histogram b. 100 c. 5 d. 28 e. 0.28 f. 12.5 g. 13 (LO 2 - 4 ) 1 6 . a. 3 b. about 26 c. 2 d. frequency polygon (LO 2 - 4 )

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 7 1 7 . a. 50 b. 1.5 thousand frequent flier miles c. d. X = 1.5, Y = 5 e. f. For the 50 employees about half earn between 6 and 9 thousand frequent flier miles. Five earn less than 3 thousand frequent flier miles, and two earn more than 12 thousand frequent flier miles. (LO 2 - 4 ) 1 8 . a. 40 b. 2.5 days c. 2.5,6 d.

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 8 e. 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. (LO 2 - 4 ) 1 9 . a. 40 b. 5 c. 11 or 12 d. about $18 per hour e. about $9 per hour f. about 7 8 % (LO 2 - 4 ) 20 . a. 200 b. 50 or $50,000 c. about $180,000 d. about $240,000 d. about 60 homes e. about 145 homes (LO 2 - 4 ) 21 . a. 5 b. Miles CF

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 9 Less than 3 5 Less than 6 17 Less than 9 40 Less than 12 48 Less than 15 50 c. d. about 8.7 thousand frequent flier miles (LO 2 - 4 )

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 10 22 . a. 13, 25 b. Lead Time CF Less than 5 6 Less than 10 13 Less than 15 25 Less than 20 33 Less than 25 40 c. d. 14 (LO 2 - 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. (LO 1 - 3 ) 24. A frequency table calls for qualitative data. On the other hand, a frequency involve s quantitative data. (LO 2 - 1 and 2 - 3 ) 25. a. A frequency table. b.

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 11 c. d. The pie chart may be easier to comprehend as the percentages of potential customers are likely more important than the number of potential customers . (LO 2 - 2 ) 26. a. The scale is ordinal and the variable is qualitative. b. Performance Frequency Early 22 On - time 67 Late 9 Lost 2 c. Performance Relative Frequency Early .22 On - time .67 Late .09 Lost .02 d.

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    Chapter 0 2 - Describing Data: Frequency Tables , Frequency Distributions , and Graphic Presentation 2 - 12 e. 67.0% On-time 2.0% Lost 9.0% Late 22.0% Early Delivery Performance f. 89% of the packages are either early or on - time and 2% of the packages are lost. So they are missing both of their objectives. They must eliminate all lost packages and reduce the late percentage to below 1%. (LO 2 - 2 ) 2 7 . The 2 k rule would suggest using 7 classes as 2 6 = 64 < 83 < 128 = 2 7 . (LO 2 - 3 ) 2 8 . 2 7 = 128 < 145 < 256 = 2 8 suggests 8 classes. 490 56 54.25 8 i −  = Use interval of 60. (LO 2 - 3 ) 2 9 . a. 5 because 2 4 = 16 < 25 < 32 = 2 5 b. 48 16 6.4 5 i −  = suggests an interval of 7. c. 15 d. Class Frequency 15 up to 22 3 22 up to 29 8 29 up to 36 7 36 up to 43 5 43 up to 50 2 Total 25 e. Based on the frequency we see the data are fairly symmetric with most of the values between 22 and 36 and a minimum of 15 and a maximum of 50. (LO2 - 3) 30 . a. 6 because 2 5 = 32 < 45 < 64 = 2 6 b. 100, suggested as the interval must be larger than i ≥ 570 41 88.17 6 − = c. 0 d. Class Frequency 0 up to 100 3 100 up to 200 12 200 up to 300 16 300 up to 400 10 400 up to 500 3 500 up to 600 1 Total 45 (LO2 - 3)

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