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*launch*### EBK STATISTICAL TECHNIQUES IN BUSINESS17th EditionLind Publisher: MCGRAW HILL BOOK COMPANYISBN: 9781259924163

EBK STATISTICAL TECHNIQUES IN BUSINESS

## Solutions for EBK STATISTICAL TECHNIQUES IN BUSINESS

## Browse All Chapters of This Textbook

Chapter 1 - What Is Statistics?Chapter 2 - Describing Data: Frequency Tables, Frequency Distributions, And Graphic PresentationChapter 3 - Describing Data: Numerical MeasuresChapter 4 - Describing Data: Displaying And Exploring DataChapter 5 - A Survey Of Probability ConceptsChapter 6 - Discrete Probability DistributionsChapter 7 - Continuous Probability DistributionsChapter 8 - Sampling Methods And The Central Limit TheoremChapter 9 - Estimation And Confidence IntervalsChapter 10 - One-sample Tests Of Hypothesis

Chapter 11 - Two-sample Tests Of HypothesisChapter 12 - Analysis Of VarianceChapter 13 - Correlation And Linear RegressionChapter 14 - Multiple Regression AnalysisChapter 15 - Nonparametric Methods: Nominal Level Hypothesis TestsChapter 16 - Nonparametric Methods: Analysis Of Ordinal DataChapter 17 - Index NumbersChapter 18 - Time Series And ForecastingChapter 19 - Statistical Process Control And Quality ManagementChapter 20 - An Introduction To Decision Theory

### Book Details

Lind/Marchal/Wathen is a perennial market best seller due to its comprehensive coverage of statistical concepts and methods delivered in a student friendly, step-by-step format. The text presents concepts clearly and succinctly with a conversational writi

## Sample Solutions for this Textbook

We offer sample solutions for EBK STATISTICAL TECHNIQUES IN BUSINESS homework problems. See examples below:

Descriptive statistics: Descriptive statistics are a set of statistical tools that are used to...Classification type: Qualitative or quantitative: Qualitative variable: A qualitative variable, also...Calculation: The manufacturers for whom, data is missing for one or both the years are ignored....The given table explains the frequencies of different cola drinks with additional flavors that...Selection of number of classes: The “2 to the k rule” suggests that the number of classes is the...Selection of number of classes: The “2 to the k rule” suggests that the number of classes is the...Selection of number of classes: “2 to the k rule” suggests that the number of classes is the...Selection of number of classes: “2 to the k rule” suggests that the number of classes is the...Selection of the number of classes: The “2 to the k rule” suggests that the number of classes is the...

Sample mean: The sample mean is the sum of all data values in the sample, divided by total number of...Calculation: Step by step procedure to obtain mean, median using MINITAB software is given as,...Calculation: Arithmetic mean of grouped data: The mean of the data that is given in frequency...In the dotplot of number of employees for each of 142 Home Depot stores, the horizontal line...Calculation: Location of percentile: The formula for percentile is, LP=(n+1)P100 In the formula, P...Calculation: Location of percentile: The formula for percentile is, LP=(n+1)P100 In the formula, P...Calculation: Step by step procedure to obtain mean, median and standard deviation using MINITAB...Calculation: Step by step procedure to obtain boxplot using MINITAB software is given as, Choose...Experiment: It is the process in which it leads to exactly one occurrence among different possible...Here, number of shopper who visited Sears often is 80. Total number of shoppers is 195. The required...Calculation: The total number of families is 20 and the number of families prepared their own taxes...Calculation: The below table shows the number of homes that have a pool versus the number of homes...The outcomes of the experiment are one-spot, two-spot, three-spot, four-spot, five-spot, and...Probability distribution: The possible outcomes of an experiment and the probability associated with...The formula to find the binomial probability is as follows: P(X)=Cnxπx(1−π)(n−x)where, C is the...Here, n=15; π=0.70. The expected number of problems to be resolved today is calculated as follows:...The number of policyholders who are expected to have filed a claim within the last year is...The formula to find the binomial probability is as follows: P(X)=Cnxπx(1−π)(n−x)where, C is the...The formula to find the binomial probability is as follows: P(X)=Cnxπx(1−π)(n−x)where, C is the...Step-by-step procedure to obtain the frequency table for bedrooms using EXCEL: Enter the data in an...Step-by-step procedure to obtain the uniform distribution using MINITAB software: Choose Graph >...The binomial probability distribution with n=40 and π=0.55 is given. The mean can be obtained as...It is given that an error is made on 7% of the returns prepared in the last year. The total number...It is given that 20% of the mufflers are installed in more than 30 minutes. The total number of...In order to qualify as a binomial problem it must satisfy the following conditions: The number of...It is given that 80% of the guests respond to invitations that they will attend the wedding and the...The exponential parameter value for the age group of 75 years and older is as follows: λ=118...In order to qualify as a binomial problem, it must satisfy the following conditions. There are only...In order to qualify as a binomial problem, it must satisfy the following conditions. There are only...In order to qualify as a binomial problem, it must satisfy the following conditions: There are only...The formula to find the binomial probability is as follows: P(X)=Cnxπx(1−π)(n−x)where, n is the...From the given information, list of 46 students are given and assigned the numbers as 00 to 45. The...From the given information, the years of service of the five executives are 20, 22, 26, 24 and 28....From the given information, the number of cases each partner actually tried in court is 3, 6, 3, 3,...The mean is calculated by using the following formula: Mean=Sum of all the observationsNumber of...From the given information, there are six representatives. The possible number of different samples...From the given information, the fair die is rolled two times. A fair die has 6 sides. Then, the...Here, the sample mean is provided and there is no information about the population mean of daily...Calculation: In this case, the number of voters favoring the Republican candidate is 520...Here, the claim is that there is evidence that the mean amount dispensed is different from 16...In this context, μ1 denotes the mean amount of sales per day by women and μ2 denotes the mean amount...Calculation: Degrees of freedom: The degrees of freedom is as follows: df=n1+n2−2=10+8−2=16...Calculation: Degrees of freedom: The degrees of freedom is as follows: df=n1+n2−2=17+15−2=30...In this context, μ1 denotes the mean balance for the credit card holders contacted by telemarketers...Calculation: The null and alternative hypotheses are stated below: Let μ1 is the average men who...Calculation: In this context, let μ1 denotes the mean selling price of homes sold last year without...Here, σ12 represents the variation in Person M’s daily production and σ22 represents the variation...Denote μ1,μ2, and μ3 the means of tuition rates for northeast, southeast, and west, respectively....The null and alternative hypotheses are given below: Null Hypothesis H0:μ1=μ2=μ3 That is, the mean...The null and alternative hypotheses are given below: Null Hypothesis H0:μ1=μ2=μ3 That is, mean of...Degrees of freedom for Factor A and Factor B: The degrees of freedom for Factor A and Factor B can...It is given that the total sum of square is 1,099.61. SS total=1,099.61 The sum of squares due to...The null and alternative hypotheses are stated below: Null hypothesis: There is no difference in the...Hypothesis test for mean checking account balance: The null and alternative hypotheses are stated...Data on the number of times the advertisement was aired and digital camera sales are given....Step-by-step procedure to obtain the correlation coefficient using MegaStat software: In an EXCEL...It is given that ‘Estimated cost’ is the dependent variable. Step-by-step procedure to obtain the...Calculation: The values of x and y are given. Regression equation: Software procedure: Step-by-step...Step-by-step procedure to obtain the correlation coefficient using MegaStat software: In an EXCEL...Step-by-step procedure to obtain the scatterplot using MegaStat software: In an EXCEL sheet enter...Here, the selling price is the dependent variable and size of the home is the independent variable....Calculation: Multiple linear regression model: A multiple linear regression model is given as...Calculation: Multiple linear regression model: A multiple linear regression model is given as...Multiple linear regression model: A multiple linear regression model is given as...Multiple linear regression model: A multiple linear regression model is given as...Step by step procedure to obtain the correlation matrix using MINITAB software is given below:...Calculation: Multiple linear regression model: A multiple linear regression model is given as...Multiple linear regression model: A multiple linear regression model is given as...Requirements to check: nπ>5n(1−π)>5 It is given that the sample size n is 100. For nπ>5:...Calculation: In this case, the test is to check whether more than 60% of the homes have an attached...Calculation: In this case, the test is to check whether less than 40% of the districts buses are...In this context, it is known that the sample size is 12 and significance level is 0.10. The test...In this context, the sample size n is 14. The test hypotheses are given below: Null hypothesis: H0:...The scatter plot for male and female rankings is given below: Step-by-step procedure to obtain...Spearman’s coefficient of rank correlation: rs=1−6∑d2n(n2−1) Here, d is the difference between ranks...Here, the ranking of the test is done in context with descending order. The rank of test scores is...Spearman’s coefficient of rank correlation: rs=1−6∑d2n(n2−1) Here, d is the difference between ranks...In this context, it is assumed that the maintenance costs are not normally distributed. Therefore,...Calculation: The index using Country U as based period is obtained as follows:...Calculation: The simple price index using 2000 as the base period is obtained as follows: FruitPrice...Calculation: The simple price index using 2000 as the base period is obtained as follows: ItemPrice...Calculation: The simple price index using 2000 as the base period is obtained as follows: ItemPrice...Calculation: The three-year moving averages for sales are obtained below: YearNumber Produced3-year...Calculation: Linear Trend Equation: Step-by-step procedure to obtain the regression using the Excel:...Calculation: Four-Year moving average: Four-year moving average=sum of the four consequent...Calculation: Four-Year moving average: Four-year moving average=sum of the four concequent Sales4...Calculation: Twelve months- moving average: Twelve-year moving average=sum of the twelve concequent...Calculation: Four-Year moving average: Four-year moving average=sum of the four concequent...Calculation: Step by step procedure to obtain Pareto chart using MINITAB software is given as,...Calculation: Let x denotes the accepting lots. For 10% defective: The probability of accepting lots...Calculation: The mean of the sample means is, x¯¯=∑x¯k Here, ∑x¯ denotes the sum of sample means,...Calculation: Let x denotes the accepting lots. First sampling plan: For 5% defective: The...Calculation: Denote Y as the random variable representing the number of shots made on a certain...From the Table 20-1, the bull market and bear stock for the Rim homes are 2,200 and 1,100,...From the given information, the probabilities for the state of nature are P(S1)=0.30, P(S2)=0.50 and...On observing the given information, it is clear that the lease about for a complete part set for...

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