Basic Business Statistics, Student Value Edition

14th Edition

ISBN: 9780134685113

Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat

Publisher: PEARSON

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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 2, Problem 43PS

One operation of a mill is to cut pieces of steel into parts that will later be used as the frame for front seats in an automobile. The steel is cut with a diamond saw and requites the resulting parts to be within ± 0.005 inch of the length specified by the automobile company. The data are collected from a sample of 100 steel parts and stores in steel. The measurement reported is the difference in inches between the actual length of the steel part, as measured by a laser measurement device, and the specified length of the steel part, For example, the first value, − 0.002 , represents a steel part that is 0.002 inch shorter than the specified length.

a. Construct a percentage histogram.

b. Is the steel mill doing a good job meeting the requirements set by the automobile company? Explain.

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Chapter 2, Problem 42PS

Chapter 2, Problem 44PS

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Chapter 2 Solutions

Basic Business Statistics, Student Value Edition

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Solution Summary: The author explains how to draw a percentage histogram by using MINITAB software.

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