BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
14th Edition
ISBN: 9780134685045
Author: BERENSON
Publisher: PEARSON
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Chapter 1, Problem 47PS
Results of a 2017 Computer Services, Inc (CSI) survey of a sample of 163 bank executive reveal insights on banking priorities among financial institutions (goo.gl/mniYMM). As financial institutions a begin planning for a new year, of utmost importance is boosting profitability and identifying growth areas.
The results show that 55% of bank institutions note customer experience institutions note customer experience initiatives as an area in which spending is expected to increase implementing a customer relationship management (CRM) solution was ranked as the top most important omnichannel strategy to pursue with 41% of institutions citing digital banking enhancements as the greatest anticipated strategy to enhance the customer experience.
a. Describe the population of interest.
b. Describe the sample that was collected.
c. Describe the parameter of interest.
d. Describe the statistic used to estimate the parameter in (c).
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Is it possible to predict the annual number of business bankruptcies by the number of
firm births (business starts) in the United States? The following data published by the
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business bankruptcies (1,000s) and the number of firm births (10,000s) for a six-year
period.
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34.3
Firm Births
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58.1
35.0
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58.5
35.5
57.4
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i) Based on the output given, use these data to develop the equation of the
regression model to predict the number of business bankruptcies by the
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iii) Predict the number of business bankruptcies if the number of firm births is
54.0 (10,000s).
iv) Do the data support the existence of a linear relationship between the number
of firm births and the number of business bankruptcies? Test using a = 0.05.
OUTPUT
Model Summary
Std. Error of the
Estimate
Adusted R
Model
R
R Square…
A Pew Research study conducted in 2017 found that approximately 75% of Americans believe that robots and computers might one day do many of the jobs currently done
by people (Pew Research website, http://www.pewinternet.org/2017/10/04/americans-attitudes-toward-a-future-in-which-robots-and-computers-can-do-many-human-
jobs/). Suppose we have the following data collected from nurses, tax auditors, and fast-food workers in which a higher score means the person feels his or her job is more
likely to be automated.
The p-value is greater than 0.10
What is your conclusion?
Tax
Auditor
Nurse
5
6
6
3
5
4
5
5
5
4
7
a. Use α = 0.05 to test for differences in the belief that a person's job is likely to be automated for the three professions.
F =
(to 2 decimals)
LSD =
What is your conclusion?
We cannot reject
6
7
6
4
8
6
6
4
Fast-Food
Worker
5
the null hypothesis that the two population means are equal.
5
5
We cannot reject
the null hypothesis that the mean scores are the same for the three…
Chapter 1 Solutions
BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
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