BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
ISBN: 9781305881884

Solutions

Chapter
Section
BuyFindarrow_forward

STATISTICS F/BUSINESS+ECONOMICS-TE...

13th Edition
Anderson
ISBN: 9781305881884
Textbook Problem

As part of a study on transportation safety, the U.S. Department of Transportation collected data on the number of fatal accidents per 1000 licenses and the percentage of licensed drivers under the age of 21 in a sample of 42 cities. Data collected over a one-year period follow. These data are contained in the file named Safety.

Percent

Under 21

Fatal Accidents per 1000 Licenses Percent Under 21 Fatal Accidents per 1000 Licenses
13 2.962 17 4.100
12 0.708 8 2.190
8 0.885 16 3.623
12 1.652 15 2.623
11 2.091 9 0.835
17 2.627 8 0.820
18 3.830 14 2.890
8 0.368 8 1.267
13 1 .1 42 15 3.224
8 0.645 10 1.014
9 1.028 10 0.493
Percent Under 21 Fatal Accidents per 1000 Licenses Percent Under 21 Fatal Accidents per 1000 Licenses
16 2.801 14 1.443
12 1.405 18 3.614
9 1.433 10 1.926
10 0.039 14 1.643
9 0.338 16 2.943
11 1.849 12 1.913
12 2.246 15 2.814
14 2.855 13 2.634
14 2.352 9 0.926
11 1.294 17 3.256

Managerial Report

  1. 1. Develop numerical and graphical summaries of the data.
  2. 2. Use regression analysis to investigate the relationship between the number of fatal accidents and the percentage of drivers under the age of 21. Discuss your findings.
  3. 3. What conclusion and recommendations can you derive from your analysis?

a.

To determine

Find the numerical and graphical summaries of the data.

Explanation

Calculation:

The data related to the percentage of the licensed drivers under the age of 21 with the fatal accident per 1,000 licenses in a sample of 42 cities.

Descriptive Statistics:

Software procedure:

Step by step procedure to get descriptive statistics using MINITAB software is given as,

  • Choose Stat > Basic Statistics > Display Descriptive Statistics.
  • Variables enter the columns Variable.
  • Under Continuous predictors, enter the columns of Percent under 21 and Fatal accident per 1,000.
  • Click OK.

The output using MINITAB software is given as,

It is shown that mean of the percent under 21 is 12.262 which is greater than the mean of the variable fatal accident per 1,000 of 1.922.

The standard deviation of “Percent under 21” is 3.132 that is greater than the standard deviation of “Fatal Accident per 1,000” of 1.071.

Thus, it can be interpreted that the spread of the distribution for “Percent under 21” is higher than the variable “Fatal Accident per 1,000”.

In addition, the median of “Percent under 21” is 12 that is greater than the median of “Fatal Accident per 1,000” of 2...

b.

To determine

Use regression analysis to investigate the relationship between the number of fatal accidents and the percentage of drivers under the age of 21.

c.

To determine

Derive conclusions and recommendations from regression analysis.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

Give an example of a price ceiling and an example of a price floor.

Principles of Macroeconomics (MindTap Course List)

In what ways is economics a science?

Essentials of Economics (MindTap Course List)

What is the difference between a staff position and a line position?

Managerial Accounting: The Cornerstone of Business Decision-Making

What are internal control systems?

Intermediate Accounting: Reporting And Analysis

What is the difference between a cash discount and a trade discount?

College Accounting (Book Only): A Career Approach

If a typical firm reports 20 million of retained earnings on its balance sheet, could its directors declare a 2...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)