Contemporary Mathematics for Business & Consumers
8th Edition
ISBN: 9781305585447
Author: Robert Brechner, Geroge Bergeman
Publisher: Cengage Learning
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Question
Chapter 21.I, Problem 6RE
To determine
To graph: The comparative bar chart of the deluxe and standard sale per month in the north-west territory for Magnum enterprises as the sales manager.
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Consider the following monthly revenue data for an up-and-coming cyber security company.Sales Data
Month
Revenue (Thousands of Dollars)
Month
Revenue (Thousands of Dollars)
11
326326
1010
816816
22
552552
1111
827827
33
535535
1212
846846
44
571571
1313
850850
55
636636
1414
849849
66
685685
1515
854854
77
700700
1616
867867
88
705705
1717
875875
99
787787
1818
881881
The summary output from a regression analysis of the data is also provided.Regression Statistics
Multiple R
0.9183542530.918354253
R Square
0.8433745340.843374534
Adjusted R Square
0.8335854420.833585442
Standard Error
63.399295263.3992952
Observations
1818
ANOVA
dfdf
SSSS
MSMS
FF
Regression
11
346,295.581011346,295.581011
346,295.581011346,295.581011
86.1545245186.15452451
Residual
1616
64,311.53010064,311.530100
4019.4706314019.470631
Total
1717
410,607.111111410,607.111111
Coefficients
Standard Error
tt Stat
P-value
Intercept…
School Type
Cost
30 Year ROI
Annual ROI
Private
$222,700.00
$1,786,000.00
7.70%
Private
$176,400.00
$1,758,000.00
8.40%
Private
$212,200.00
$1,714,000.00
7.80%
Public
$125,100.00
$1,535,000.00
9.10%
Private
$212,700.00
$1,529,000.00
7.40%
Public
$92,910.00
$1,501,000.00
10.10%
Private
$214,900.00
$1,485,000.00
7.30%
Private
$217,800.00
$1,483,000.00
7.20%
Private
$225,600.00
$1,444,000.00
7.00%
Private
$217,300.00
$1,442,000.00
7.10%
Private
$226,500.00
$1,441,000.00
7.00%
Private
$215,500.00
$1,438,000.00
7.20%
Private
$223,500.00
$1,428,000.00
7.00%
Private
$226,600.00
$1,414,000.00
7.00%
Private
$189,300.00
$1,397,000.00
7.50%
Public
$89,700.00
$1,382,000.00
9.90%
Public
$87,030.00
$1,376,000.00
10.00%
Private
$218,200.00
$1,343,000.00
6.90%
Private
$229,900.00
$1,339,000.00
6.70%
Private
$148,800.00
$1,321,000.00
8.10%
Calculate the estimated ‘Annual % ROI’ when the ‘Cost’ (X) is $160,000.
Test the hypothesis:
o H0: β1 = 0
o Ha: β1…
Table 2
Department
Mean
SD
CoefVar
Min
Q1
Median
Q3
Max
IQR
Skewness
Finance
6.052
3.874
64.01
1.630
3.393
4.585
7.500
22.860
4.107
2.00
HR
5.441
3.235
59.45
2.000
3.200
4.100
6.430
21.860
3.230
1.24
IT
5.880
3.887
66.10
0.530
3.250
4.630
6.8
24.980
3.550
2.18
Marketing
6.010
3.737
62.18
1.670
3.475
5.000
6.645
22.200
3.170
2.14
Training
6.095
3.719
61.02
1.500
3.330
5.000
7.640
20.000
4.310
2.00
CoefVar stands for coefficient of variation
graph (1)
The company has hired you to answer the following questions:
Do you think that the salaries in the departments are skewed, justify your answer with proper measure from table (2).
Chapter 21 Solutions
Contemporary Mathematics for Business & Consumers
Ch. 21.I - Use Table 21-1 to answer the following questions...Ch. 21.I - Use Exhibits 21-1 and 21-2 to answer the following...Ch. 21.I - Prob. 3TIECh. 21.I - Prob. 4TIECh. 21.I - Prob. 5TIECh. 21.I - Prob. 6TIECh. 21.I - Prob. 7TIECh. 21.I - Prob. 8TIECh. 21.I - Prob. 9TIECh. 21.I - Prob. 10TIE
Ch. 21.I - Prob. 1RECh. 21.I - TABLE 21-1 Magnum Enterprises Six-Month Sales...Ch. 21.I - Prob. 3RECh. 21.I - Prob. 4RECh. 21.I - TABLE 21-1 Magnum Enterprises Six-Month Sales...Ch. 21.I - Prob. 6RECh. 21.I - Prob. 7RECh. 21.I - BUSINESS DECISION: CHOOSING A CHART
8. You have...Ch. 21.II - Prob. 11TIECh. 21.II - Prob. 12TIECh. 21.II - Prob. 13TIECh. 21.II - Prob. 14TIECh. 21.II - Prob. 15TIECh. 21.II - Prob. 1RECh. 21.II - Prob. 2RECh. 21.II - Prob. 3RECh. 21.II - Prob. 4RECh. 21.II - Prob. 5RECh. 21.II - Prob. 6RECh. 21.II - Prob. 7RECh. 21.II - Prob. 8RECh. 21.II - Prob. 9RECh. 21.II - Prob. 10RECh. 21.II - Determine the mode of the following sets of...Ch. 21.II - Prob. 12RECh. 21.II - Prob. 13RECh. 21.II - Prob. 14RECh. 21.II - Prob. 15RECh. 21.II - Prob. 16RECh. 21.II - Prob. 17RECh. 21.II - The following numbers represent the gallons of...Ch. 21.II - You are the owner of The Dependable Delivery...Ch. 21.II - Prob. 20RECh. 21.III - Prob. 17TIECh. 21.III - Prob. 18TIECh. 21.III - Prob. 1RECh. 21.III - You are the sales manager of the Esquire...Ch. 21.III - Prob. 3RECh. 21.III - BUSINESS DECISION: RELATIVE FREQUENCY...Ch. 21 - 1. The systematic process of collecting,...Ch. 21 - 2. Statistical procedures that deal with the...Ch. 21 - A collection of related data arranged for ease of...Ch. 21 - Prob. 4CRCh. 21 - 5. The horizontal axis of a line chart is known as...Ch. 21 - Prob. 6CRCh. 21 - To construct a pie chart, we multiply each...Ch. 21 - Prob. 8CRCh. 21 - 9. The _______ is the midpoint value of a set of...Ch. 21 - Prob. 10CRCh. 21 - Prob. 11CRCh. 21 - Prob. 12CRCh. 21 - Prob. 13CRCh. 21 - Prob. 14CRCh. 21 - 1. The following data represent the monthly sales...Ch. 21 - Prob. 2ATCh. 21 - Prob. 3ATCh. 21 - You have just been hired as the quality control...Ch. 21 - 5. You are the human resource director for Apollo...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
The staff of controller of McCourt Company added the variable "pounds moved" to the ten-month data set:
Month
Materials Handling Cost
Number of Moves
Pounds Moved
January
$5,600
475
12,000
February
3,090
125
15,000
March
2,780
175
7,800
April
8,000
600
29,000
May
1,990
200
600
June
5,300
300
23,000
July
4,300
250
17,000
August
6,300
400
25,000
September
2,000
100
6,000
October
6,240
425
22,400
Required:
1. Using the data on material handling, use regression software such as Microsoft Excel to complete the missing data in the table below (round regression parameters to the nearest cent and other answers to three decimal places):
McCourt CompanySUMMARY OUTPUT
Regression Statistics
Multiple R
0.999
R Square
fill in the blank 491c8af8afe4f84_1
Adjusted R Square
fill in the blank 491c8af8afe4f84_2
Standard Error
119.600
Observations
10
ANOVA
df
SS
MS
F
Significance F
Regression
2
37,768,070.16
18,884,035…
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The table below shows monthly data collected on production costs and on the number of units produced over a twelve month period.
Month
Total Production Cost
Level of Activity (units Produced)
July
$230,000
3,500
August
250,000
3,750
September
260,000
3,800
October
220,000
3,400
November
340,000
5,800
December
330,000
5,500
January
200,000
2,900
February
210,000
3,300
March
240,000
3,600
April
380,000
5,900
May
350,000
5,600
June
290,000
5,000
Using the information above answer both questions below
1. Prepare the scatter diagram, clearly showing any outliers.2. Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.)
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The table below shows monthly data collected on production costs and on the number of units produced over a twelve-month period.
Month
Total Production
Costs
Level of Activity (Units Produced)
July
$230,000
3,500
August
250,000
3,750
September
260,000
3,800
October
220,000
3,400
November
340,000
5,800
December
330,000
5,500
January
200,000
2,900
February
210,000
3,300
March
240,000
3,600
April
380,000
5,900
May
350,000
5,600
June
290,000
5,000
A) Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 )
B) In view of the department’s cost behavior pattern, which of the two methods appear more appropriate? Explain your answer.
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Region
Product Type
Item
Projected Sales 2022 (in millions)
Americas
Legacy
B
18.6
Americas
Legacy
B
1.4
Americas
Legacy
B
9.4
Americas
Legacy
B
11.6
Americas
Legacy
B
7.1
Americas
Legacy
B
8.6
Americas
Legacy
B
6.9
Americas
Legacy
B
9.4
Americas
Legacy
B
8
Americas
Legacy
B
12.4
Americas
Legacy
B
16.3
Americas
Legacy
B
12.4
Americas
Legacy
B
5.7
Americas
Legacy
B
8.1
Americas
Legacy
B
14.6
Americas
Legacy
B
3.2
Americas
Legacy
B
13.1
Americas
Legacy
B
6.5
Americas
Legacy
B
6.6
Americas
Legacy
B
14
Americas
Legacy
B
-1.6
Americas
Legacy
B
-5.5
Americas
Legacy
B
10.5
Americas
Legacy
B
9.7
Americas
Legacy
B
5.9
Americas
Legacy
B
9
Americas
Legacy
B
7.9
Americas
Legacy
B
4.4
Americas
Legacy
B
8.2
Americas
Legacy
B
2.9
Americas
Legacy
B
10.6
Americas
Legacy
B
7.8
Americas
Legacy
B
5.2
Americas
Legacy
B
14.4
Americas
Legacy
B
4.1
Americas
Legacy
B
7.7
Americas
Legacy
B
2.6
Americas
Legacy
B
10.1
Americas
Legacy
B…
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we have the following data:
(large urban area)
public transportation passenger miles (million)
(very large urban area)
public transportation passenger miles (million)
1982
133
1312
1983
146
1450
1984
151
1545
1985
155
1699
1986
153
1805
1987
153
2018
1988
151
2074
1989
149
2097
1990
151
2168
1991
158
2137
1992
162
2196
1993
182
2194
1994
188
2236
1995
190
2356
1996
199
2508
1997
205
2310
1998
217
2442
1999
231
2550
2000
236
2671
2001
235
2749
2002
237
2740
2003
233
2718
(1) test whether the means for public transportation passenger miles between 1982 and 2003 are the same for the two groups: large urban areas and very large urban areas.
(2) what are the 95% confidence interval of the difference between the two means?
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The following data set provides infromation on acres harvested and planted by year and value in the US.
Year
ASPARAGUS - ACRES HARVESTED
ASPARAGUS - ACRES PLANTED
2015
21,700
23,500
2014
23,800
25,800
2013
24,500
26,800
2012
25,300
27,800
2011
26,800
28,400
2010
28,000
29,200
2009
29,200
30,700
2008
32,200
33,700
2007
38,600
40,900
2006
43,200
44,700
2005
49,300
51,700
2004
61,500
66,000
2003
58,000
62,000
2002
66,000
70,500
2001
70,150
75,150
2000
77,400
82,800
1999
75,890
79,590
1998
74,430
From the data set, use the planting data for the United States for recent years. Using a calculator or statistical software, find the equation for the linear regression line for 2010 to 2015. What is the pattern of the data set?
Select the correct answer below:
Positive linear pattern
No pattern
Negative linear pattern…
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Table #7.3.8: Economic Dynamism of Middle Income Countries
25.8057
37.4511
51.915
43.6952
47.8506
43.7178
58.0767
41.1648
38.0793
37.7251
39.6553
42.0265
48.6159
43.8555
49.1361
61.9281
41.9543
44.9346
46.0521
48.3652
43.6252
50.9866
59.1724
39.6282
33.6074
21.6643
7.3.8
Maintaining your balance may get harder as you grow older. A study was conducted to see how steady the elderly is on their feet. They had the subjects stand on a force platform and have them react to a noise. The force platform then measured how much they swayed forward and backward, and the data is in table #7.3.10 ("Maintaining balance while," 2013). Do the data show that the elderly sway more than the mean forward sway of younger people, which is 18.125 mm? Test at the 5% level.
Table #7.3.10: Forward/backward Sway (in mm) of Elderly Subjects
19
30
20
19
29
25
21
24
50
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Table 10-2
A problem with a phone line that prevents a customer from receiving or making calls is upsetting to both the customer and the telecommunications company. The file “Phone” contains samples of 20 problems reported to two different offices of a telecommunications company and the time toclear these problems (in minutes) from the customers’ lines:
Central Office I Time to Clear Problems (minutes)
1.48 1.75 0.78 2.85 0.52 1.60 4.15 3.97 1.48 3.10
1.02 0.53 0.93 1.60 0.80 1.05 6.32 3.93 5.45 0.97
Central Office II Time to Clear Problems (minutes)
7.55 3.75 0.10 1.10 0.60 0.52 3.30 2.10 0.58 4.02
3.75 0.65 1.92 0.60 1.53 4.23 0.08 1.48 1.65 0.72
Assuming that the population variances from both offices are not equal, is there evidence of a difference in the mean waiting time between two offices? (Use a = 0.01)
▪ You may need to download file “Phone”.
Referring to Table 10-2, judging from the way the data were collected, which test would likely be most appropriate to…
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Table 10-2
A problem with a phone line that prevents a customer from receiving or making calls is upsetting to both the customer and the telecommunications company. The file “Phone” contains samples of 20 problems reported to two different offices of a telecommunications company and the time toclear these problems (in minutes) from the customers’ lines:
Central Office I Time to Clear Problems (minutes)
1.48 1.75 0.78 2.85 0.52 1.60 4.15 3.97 1.48 3.10
1.02 0.53 0.93 1.60 0.80 1.05 6.32 3.93 5.45 0.97
Central Office II Time to Clear Problems (minutes)
7.55 3.75 0.10 1.10 0.60 0.52 3.30 2.10 0.58 4.02
3.75 0.65 1.92 0.60 1.53 4.23 0.08 1.48 1.65 0.72
Assuming that the population variances from both offices are not equal, is there evidence of a difference in the mean waiting time between two offices? (Use a = 0.01)
▪ You may need to download file “Phone”.
Referring to Table 10-2, at the α = 0.05 level, the correct critical value(s) is (are)
Question 3 options:…
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Table 10-2
A problem with a phone line that prevents a customer from receiving or making calls is upsetting to both the customer and the telecommunications company. The file “Phone” contains samples of 20 problems reported to two different offices of a telecommunications company and the time toclear these problems (in minutes) from the customers’ lines:
Central Office I Time to Clear Problems (minutes)
1.48 1.75 0.78 2.85 0.52 1.60 4.15 3.97 1.48 3.10
1.02 0.53 0.93 1.60 0.80 1.05 6.32 3.93 5.45 0.97
Central Office II Time to Clear Problems (minutes)
7.55 3.75 0.10 1.10 0.60 0.52 3.30 2.10 0.58 4.02
3.75 0.65 1.92 0.60 1.53 4.23 0.08 1.48 1.65 0.72
Assuming that the population variances from both offices are not equal, is there evidence of a difference in the mean waiting time between two offices? (Use a = 0.01)
▪ You may need to download file “Phone”.
Referring to Table 10-2, at the α = 0.05 level, the decision is
Question 5 options:
1)
Cannot…
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Table 10-2
A problem with a phone line that prevents a customer from receiving or making calls is upsetting to both the customer and the telecommunications company. The file “Phone” contains samples of 20 problems reported to two different offices of a telecommunications company and the time toclear these problems (in minutes) from the customers’ lines:
Central Office I Time to Clear Problems (minutes)
1.48 1.75 0.78 2.85 0.52 1.60 4.15 3.97 1.48 3.10
1.02 0.53 0.93 1.60 0.80 1.05 6.32 3.93 5.45 0.97
Central Office II Time to Clear Problems (minutes)
7.55 3.75 0.10 1.10 0.60 0.52 3.30 2.10 0.58 4.02
3.75 0.65 1.92 0.60 1.53 4.23 0.08 1.48 1.65 0.72
Assuming that the population variances from both offices are not equal, is there evidence of a difference in the mean waiting time between two offices? (Use a = 0.01)
▪ You may need to download file “Phone”.
Referring to Table 10-2, the correct test statistic is
Question 4 options:
1)
2.04, -2.04.…
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Table 1 Patterns of disease in Mainland Tanzania
Age group (Years)
# of people
Total # of deaths
# of deaths gastroenteritis
# of
deaths respiratory disease
# of deaths heart disease
00-09
5,000
40
24
8
2
10-19
6,000
70
20
10
1
20-29
5,400
84
4
4
2
30--39
5,000
40
2
2
4
40-49
4,400
40
2
6
10
50-59
5,400
70
2
14
20
60-69
6,200
90
4
12
30
70-79
3,800
180
20
40
80
80+
3,000
240
40
50
150
Local authorities in Mainland Tanzania are concerned about the health status of its community. A review of annual health statistics shows the following pattern of diseases.
What is the ratio of deaths from gastroenteritis to heart disease in the total population, and in the 0-9 and 70-79 age groups respectively? What do you notice?…
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