STATISTICAL TECHNIQUES FOR BUSINESS AND17th EditionLind Publisher: MCG/CREATEISBN: 9781307261158
STATISTICAL TECHNIQUES FOR BUSINESS AND
Solutions for STATISTICAL TECHNIQUES FOR BUSINESS AND
Problem 2SR:
(a) The mean age of people who listen to talk radio is 42.1 years. What level of measurement is used...Problem 1E:
What is the level of measurement for each of the following variables? a. Student IQ ratings. b....Problem 2E:
Slate is a daily magazine on the Web. Its business activities can be described by a number of...Problem 4E:
For each of the following, determine whether the group is a sample or a population. a. The...Problem 5CE:
Explain the difference between qualitative and quantitative variables. Give an example of...Problem 8CE:
For the following situations, would you collect information using a sample or a population? Why? a....Problem 9CE:
Exits along Interstate highways were formerly numbered successively from the western or southern...Problem 10CE:
A poll solicits a large number of college undergraduates for Information on the following variables:...Problem 11CE:
Best Buy sells Fitbit wearable technology products that track a persons activity. For example, the...Problem 12CE:
Using the concepts of sample and population, describe how a presidential election is unlike an exit...Problem 13CE:
Place these variables in the following classification tables. For each table, summarize your...Problem 16CE:
AVX Home Entertainment, Inc., recently began a no-hassles return policy. A sample of 500 customers...Problem 18CE:
The following chart depicts the average amounts spent by consumers on holiday gifts. Write a brief...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
Sample Solutions for this Textbook
We offer sample solutions for STATISTICAL TECHNIQUES FOR BUSINESS AND homework problems. See examples below:
Descriptive statistics: Descriptive statistics are a set of statistical tools that are used to...Chapter 1, Problem 13CECalculation: The manufacturers for whom, data is missing for one or both the years are ignored....Chapter 2, Problem 1SRSelection of number of classes: The “2 to the k rule” suggests that the number of classes is the...Chapter 2, Problem 38CEChapter 2, Problem 51DASelection of number of classes: “2 to the k rule” suggests that the number of classes is the...Chapter 2, Problem 53DA
Chapter 3, Problem 1.1SRCalculation: 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...Chapter 4, Problem 14ECalculation: 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...Chapter 5, Problem 8SRCalculation: 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...Chapter 6, Problem 1SRChapter 6, Problem 8EChapter 6, Problem 21EHere, n=15; π=0.70. The expected number of problems to be resolved today is calculated as follows:...Chapter 6, Problem 45CEThe 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...Chapter 7, Problem 1SRThe 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...Chapter 8, Problem 3SRFrom 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...Chapter 8, Problem 30CEFrom 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...Chapter 10, Problem 1SRChapter 11, Problem 1SRCalculation: Degrees of freedom: The degrees of freedom is as follows: df=n1+n2−2=10+8−2=16...Chapter 11, Problem 8EChapter 11, Problem 3SRCalculation: 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...Chapter 12, Problem 1SRDenote 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...Chapter 12, Problem 12EDegrees 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...Chapter 13, Problem 61CEChapter 13, Problem 62DAChapter 14, Problem 1SRChapter 14, Problem 8EChapter 14, Problem 18CEMultiple linear regression model: A multiple linear regression model is given as...Chapter 14, Problem 23CECalculation: Multiple linear regression model: A multiple linear regression model is given as...Multiple linear regression model: A multiple linear regression model is given as...Chapter 15, Problem 1SRCalculation: 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...Chapter 16, Problem 40CESpearman’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...Chapter 19, Problem 1SRChapter 19, Problem 15EChapter 19, Problem 22CEChapter 19, Problem 31CEChapter 19, Problem 32CEFrom 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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