Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)

6th Edition

ISBN: 9781337115186

Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Publisher: Cengage Learning

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Unitary Method

The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.

Speed, Time, and Distance

Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 …

Profit and Loss

The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.

Units and Measurements

Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experime…

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Textbook Question

Chapter 17.4, Problem 24E

The following data shows the average interest rate (%) for a 30-year fixed-rate mortgage over a ten-year period (FreddieMac website, July 30, 2016).

Chapter 17.4, Problem 24E, The following data shows the average interest rate (%) for a 30-year fixed-rate mortgage over a

a. Construct a time series plot. Do you think a linear trend or a quadratic trend will provide a better fit for this time series? Why?
b. Develop the linear trend equation for this time series. Using this linear trend equation, forecast the average interest rate for 2016.
c. Develop the quadratic trend equation for this time series. Using this quadratic trend equation, forecast the average interest rate for 2016.
d. Compare your answers to parts (b) and (c). Which model would you recommend? Why?

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Chapter 17.4, Problem 23E

Chapter 17.4, Problem 25E

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Chapter 17 Solutions

Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)

Ch. 17.2 - 1. Consider the following time series...Ch. 17.2 - 2. Refer to the time series data in exercise 1....Ch. 17.2 - Prob. 3E Ch. 17.2 - 4. Consider the following time series...Ch. 17.3 - Consider the following time series...Ch. 17.3 - Consider the following time series...Ch. 17.3 - Refer to the gasoline sales time series data in...Ch. 17.3 - Prob. 8E Ch. 17.3 - 9. With the gasoline time series data from Table...Ch. 17.3 - 10. With a smoothing constant of α = .2, equation...

Ch. 17.3 - For the Hawkins Company, the monthly percentages...Ch. 17.3 - Corporate triple-A bond interest rates for 12...Ch. 17.3 - The values of Alabama building contracts (in $...Ch. 17.3 - The following time series shows the sales of a...Ch. 17.3 - Ten weeks of data on the Commodity Futures Index...Ch. 17.3 - Prob. 16E Ch. 17.4 - Consider the following time series...Ch. 17.4 - Prob. 18E Ch. 17.4 - Prob. 19E Ch. 17.4 - Prob. 20E Ch. 17.4 - Prob. 21E Ch. 17.4 - Prob. 22E Ch. 17.4 - The president of a small manufacturing firm is...Ch. 17.4 - The following data shows the average interest rate...Ch. 17.4 - Quarterly revenue ($ millions) for Twitter for the...Ch. 17.4 - Giovanni Food Products produces and sells frozen...Ch. 17.4 - The number of users of Facebook from 2004 through...Ch. 17.5 - Consider the following time series. Construct a...Ch. 17.5 - Consider the following time series...Ch. 17.5 - The quarterly sales data (number of copies sold)...Ch. 17.5 - Air pollution control specialists in southern...Ch. 17.5 - South Shore Construction builds permanent docks...Ch. 17.5 - Prob. 33E Ch. 17.5 - Prob. 34E Ch. 17.6 - Consider the following time series...Ch. 17.6 - Refer to exercise 35. Deseasonalize the time...Ch. 17.6 - The quarterly sales data (number of copies sold)...Ch. 17.6 - Three years of monthly lawn-maintenance expenses...Ch. 17.6 - Air pollution control specialists in southern...Ch. 17.6 - Electric power consumption is measured in...Ch. 17 - The weekly demand (in cases) for a particular...Ch. 17 - The following table reports the percentage of...Ch. 17 - United Dairies, Inc., supplies milk to several...Ch. 17 - Annual retail store revenue for Apple from 2007 to...Ch. 17 - The Mayfair Department Store in Davenport, Iowa,...Ch. 17 - Prob. 47SE Ch. 17 - The Costello Music Company has been in business...Ch. 17 - Consider the Costello Music Company problem in...Ch. 17 - Prob. 50SE Ch. 17 - Refer to the Costello Music Company time series in...Ch. 17 - Prob. 52SE Ch. 17 - Refer to the Hudson Marine problem in exercise 52....Ch. 17 - Refer to the Hudson Marine problem in exercise...Ch. 17 - Refer to the Hudson Marine data in exercise...Ch. 17 - Forecasting Food and Beverage Sales The Vintage...Ch. 17 - The Carlson Department Store suffered heavy damage...

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Solution Summary: The author explains how the linear trend or quadratic trend will provide a better fit for the given time series.

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Chapter 17 Solutions