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business
business statistics communicating

Questions and Answers of Business Statistics Communicating

A random sample of 30 customer records for a physician’s office showed the following times (in days)required to collect insurance payments:Number of Days to Collect Payment 34 55 36 39 36 32 35 30
A fast-food restaurant monitors its drive-thru service times electronically to ensure that its speed of service is meeting the company’s goals. A sample of 28 drivethru times was recently taken and
The 2014 Annual Report of the Procter & Gamble Company (see www.pginvestor.com) reported the following percentages for its five global business segments:Global Segment Percent of Total Sales Beauty
WTS Travels is preparing its summer packages, and the sales manager, Raman, is trying to determine packages that are more profitable for the year. He refers to the last year’s sales records, which
Aunty Soo’s fish ball noodle stall at a local food court is a popular place for college students to meet. Soo noted that the business did not do well in the previous week. She refers to the sales
The first few years after the turn of the century saw a rapid increase in housing values, followed by a rapid decline due in part to the sub-prime crisis. The following table indicates the increase
The number of British emigrants (in thousands) to five select destinations are shown in the following table:Destination Australia Spain USA New Zealand France British emigration amount 52 34 26 21
The following shows the amount of sugar (in million tons) exported by White Santy for the past five months.Months March April May June July Exported sugar amount(million tons)0.69 0.58 0.55 0.62
A survey was conducted using a sample of 100 youths to determine what their most favorable leisure activity is. The following are the results (in percentage)obtained from the youths:Leisure Activity
An online platform, Worldometers, features live world statistics on population, economics, and other categories. The following data is the population of five major European countries in 2006 and
An annual report for Murphy Oil Corporation reports the following refinery yields, in barrels per day, by product category for the United States and the United Kingdom.United States Product Category
Given the following sales data for product type and sales region, construct at least two different bar charts that display the data effectively:Region Product Type East West North South XJ-6 Model
A university has the following number of students at each grade level:Freshman 3,450 Sophomore 3,190 Junior 2,780 Senior 1,980 Graduate 750a. Construct a bar chart that effectively displays these
Given the following data on the age of a group of people, construct a stem and leaf diagram:1 2 3 3 4 5 10 10 10 17 19 26 26 27 28 30 31 33 33 33 36 43 48 49 49 49 50 51 53 58
The file Danish Coffee contains data on individual coffee consumption (in kg) for 144 randomly selected Danish coffee drinkers.a. Construct a histogram of the coffee consumption data. Briefly comment
The manager of AJ’s Fitness Center, a full-service health exercise club, recently conducted a survey of 1,214 members. The objective of the survey was to determine the satisfaction level of his
The Orlando International Airport is busy throughout the year. Among the variety of data collected by the Greater Orlando Aviation Authority is the number of passengers by airline. The file Orlando
The California Golf Association recently conducted a survey of its members. Among other questions, the members were asked to indicate the number of 18-hole rounds that they played last year. Data for
The Franklin Tire Company is interested in demonstrating the durability of its steel-belted radial tires. To do this, the managers have decided to put four tires on 100 different sport utility
One effect of the great recession was to lower the interest rate on fixed-rate mortgages. A sample of 30-year fixed-rate mortgage rates taken from financial institutions in the Pacific Northwest
A café recently conducted a survey on its coffee selling by customers’ age. The owner recorded the first 30 customers who visited his café and had chosen coffee as their drink. The customers’
Aria is an assistant HR manager. She is helping the manager shortlist candidates by their required salary for the post of management trainee. The following are the required salary (in $) from 50
A St. Louis–based shipping company recently selected a random sample of 49 airplane weight slips for crates shipped from an automobile parts supplier. The weights, measured in pounds, for the
A developer is launching their new developments for two types of housing. During the launching, the sales representatives will show and explain the show units for both types of housing to the
The owner of a toy shop conducts a survey of goods sold in the past two weeks. He sorts the toys into three categories—soft toys, educational toys, and physical activity toys with their respective
PLUSLine is a 24-hour PLUS toll free customer care line. The highway users can receive the latest traffic updates, lodge a feed, or request for PLUSRonda assistance on the PLUS expressways. The
Using the data from Exercise 2-7:a. Construct a grouped data relative frequency distribution of the data. Use the 2k Ú n guideline to determine the number of classes.b. Construct a cumulative
Complete the following equal-class-width frequency distribution with appropriate figures: Cumulative Class Frequency Frequency Relative Frequency 4- < 5 - < 12 0.34 12- < 7 - < 20 20- < 0.18 50
Produce the relative frequency distribution from a sample size of 50 that gave rise to the following ogive:2-5. You have the following data:a. Construct a frequency distribution for these data.Use
With their individual tickets to attend an evening dinner, every guest has the chance to win the grand door prize.a. Which sampling method is the fairest to use to select the grand door price?b.
A company with 400 employees is going to conduct a development training program for its staff. The training program has limited seats for only 15 employees. Suggest a most common and basic form of
D’Bakery has its franchises at several states. Recently, the bakery did a customer survey on the satisfaction of items purchased by the customer in its franchises. The following are the information
In a business publication such as The Wall Street Journal or Bloomberg Businessweek, find a graph or chart representing cross-sectional data. Discuss how the data were gathered and the purpose of the
In a business publication such as The Wall Street Journal or Bloomberg Businessweek, find a graph or chart representing time-series data. Discuss how the data were gathered and the purpose of the
A survey was done on a selected tourism industry and the following are the variables in the annual data on the tourism industry. Indicate the level of measurement scale for the following variables:a.
For each of the following variables, indicate its level of measurement scale (nominal, ordinal, interval, or ratio):a. Calendar years: 00 for 2000, 01 for 2001, etc.b. Runners in the 100-meter dash
As part of an economics research study, an analyst has accessed data compiled by the U.S. Bureau of Labor Statistics. The data are in a file named BLS County Data (source: www.ers.usda.gov). Consider
The following information on 15 different real estate investment trusts (REITs) has been collected. Identify whether the data collected are cross-sectional or time-series:a. income distribution by
Suppose the following information is found in a petroleum company’s annual report to shareholders.Indicate the level of data measurement for each:a. a list of countries where the company has
A company’s human resources department wants to pick a sample of employees from the total of 500 employees in the company and ask how they feel about company policies. The employees’ list in
What is the difference between ordinal and nominal data?
What is the difference between qualitative and quantitative data?
Mount Hillsdale Hospital has 4,000 patient files listed alphabetically in its computer system. The office manager wants to survey a statistical sample of these patients to determine how satisfied
Sysco Foods has a very large warehouse in which the food is stored until it is pulled from the shelves to be delivered to the customers. The warehouse has 64 storage racks numbered 1-64. Each rack is
The human resources manager of a university e-mailed a survey questionnaire to his 150 employees in the company. The sample included 50 employees randomly selected from each of the category of
To determine the customers’ satisfaction on the electronic products they purchased, the customer service manager selected the hairdryer made by his company for his study. He included a simple set
Describe how Kris plans to use the systematic sampling method to sample 100 securities listed on the New York Stock Exchange. Assume that the Wall Street Journal has 2,531 securities listed in the
The population in a public university is 7,000 students and you want to sample 200 students. How would you sample these students systematically?
It is toward the year end and you are interested to estimate how much holiday shopping people in Malaysia plan to do this year. Tomorrow is a public holiday and you decided to go out to a shopping
An experimental study found that students who turn up to seminars in addition to lectures get better marks than those students who only turn up to lectures. Justify which validity needs to be
Identify the data collection method to be used for the following situations with justification:a. Parents collecting information on a training facility whether it is conducive for their children to
Justify whether open-ended questions may improve accuracy of patient’s medication.
Justify whether a survey can be done through the Internet and determine its efficiency.
State an advantage and a disadvantage for the experiments and direct observations to show their differences.
The following data were collected on the voters participating in a recent election based on their political party affiliation. The coding for the data is as follows:1 = Republican 2 = Democrat 3 =
Locate a business periodical such as Fortune or Forbes or a business newspaper such as The Wall Street Journal. Find three examples of the use of a graph to display data. For each graph,a. Give the
Review Figures 1.2 and 1.3 and discuss any differences you see between the histogram and the bar chart.
Consider the following graph that appeared in a company annual report. What type of graph is this? Explain.
A random sample of 15 articles in a Fortune revealed the following word counts per article:5,176 6,005 5,052 5,310 4,188 4,132 5,736 5,381 4,983 4,423 5,002 4,573 4,209 5,611 4,568 Compute the mean,
The following data reflect the number of defects produced on an assembly line at the Dearfield Electronics Company for the past 8 days.3 0 2 0 1 3 5 2 5 1 3 0 0 1 3 3 4 3 1 8 4 2 4 0a. Compute the
A European cereal maker recently sampled 20 of its medium-size oat cereal packages to determine the weights of the cereal in each package. These sample data, measured in ounces, are as follows:14.7
The time (in seconds) that it took for each of 16 vehicles to exit a parking lot in downtown Cincinnati is 106 153 169 116 135 78 51 129 100 141 72 101 130 125 128 139 Compute the mean, median, first
A random sample of the miles driven by 20 rental car customers is shown as follows:90 85 100 150 125 75 50 100 75 60 35 90 100 125 75 85 50 100 50 80 Develop a box and whisker plot for the sample
Examine the following data:23 65 45 19 35 28 39 100 50 26 25 27 24 17 12 106 23 19 39 70 20 18 44 31a. Compute the quartiles.b. Calculate the 90th percentile.c. Develop a box and whisker plot.d.
Consider the following data that represent the commute distances for students who attend Emory University:3.1 4.7 8.4 11.6 12.1 13.0 13.4 16.1 17.3 20.8 22.8 24.3 26.2 26.6 26.7 31.2 32.2 35.8 35.8
A professor wishes to develop a numerical method for giving grades. He intends to base the grade on homework, two midterms, a project, and a final examination. He wishes the final exam to have the
The manager for the Jiffy Lube in Saratoga, Florida, has collected data on the number of customers who agreed to purchase an air filter when they were also having their oil changed. The sample data
During the past few years, there has been a lot of discussion about the price of university textbooks. The complaints have come from many places, including students, faculty, parents, and even
The Xang Corporation operates five clothing suppliers in China to provide merchandise for Nike. Nike recently sought information from the five plants.One variable for which data were collected was
The Tru-Green Lawn Company provides yard care services for customers throughout the Denver area.The company owner recently tracked the time his field employees spent at a sample of customer
Eastern States Bank and Trust monitors its drive-thru service times electronically to ensure that its speed of service is meeting the company’s goals. A sample of 28 drive-thru times was recently
Todd Lindsey & Associates, a commercial real estate company located in Boston, owns six office buildings in the Boston area that it leases to businesses. The lease price per square foot differs by
Business Week recently reported that L. G. Philips LCD Co. would complete a new factory in Paju, South Korea. It will be the world’s largest maker of liquidcrystal display panels. The arrival of
Wageweb.com exhibits salary data obtained from surveys. It provides compensation information on over 170 benchmark positions, including finance positions.It reports the salaries of chief finance
The Federal Deposit Insurance Corporation (FDIC)insures deposits in banks and thrift institutions for up to $250,000. Before the banking crisis of late 2008, there were 8,885 FDIC–insured
Each year, Business Week publishes information and rankings of master of business administration (MBA)programs. The data file MBA Analysis contains data on several variables for eight reputable MBA
Before the sub-prime loan crisis and the end of the“housing bubble” in 2008 the value of houses was escalating rapidly, as much as 40% a year in some areas. In an effort to track housing prices
Homeowners and businesses pay taxes on the assessed value of their property. As a result, property taxes can be a problem for elderly homeowners who are on a fixed retirement income. Whereas these
USA Today reported a survey made by Nationwide Mutual Insurance that indicated the average amount of time spent to resolve identity theft cases was 81 hours.The file entitled Theft contains data that
Google is noted for its generous employee benefits.The following data reflect the number of vacation days that a sample of employees at Google have left to take before the end of the year:3 0 2 0 1 3
The following data are the population of ages of students who have recently purchased a sports video game:16 15 17 15 15 15 14 9 16 15 13 10 8 18 20 17 17 17 18 23 7 15 20 10 14 14 12 12 24 21a.
A county library in Minnesota reported the following number of books checked out in 15 randomly selected months:5,176 6,005 5,052 5,310 4,188 4,132 5,736 5,381 4,983 4,423 5,002 4,573 4,209 5,611
The following data show the number of hours spent watching television for 12 randomly selected freshmen attending a liberal arts college in the Midwest:Hours of Television Viewed Weekly 7.5 11.5 14.4
Consider the following two separate samples:27 27 25 12 15 10 20 37 31 35 and 1 3 2 16 18 16 16 4 16 118a. Calculate the range, variance, standard deviation, and interquartile range for each data
The following set of data shows the number of alcoholic drinks that students at a Kansas university reported they had consumed in the past month:24 16 23 26 30 21 15 9 18 27 14 6 14 10 12a. Assume
Easy Connect, Inc., provides access to computers for business uses. The manager monitors computer use to make sure that the number of computers is sufficient to meet the needs of the customers.
A random sample of 20 pledges to a public radio fundraiser revealed the following dollar pledges:90 85 100 150 125 75 50 100 75 60 35 90 100 125 75 85 50 100 50 80a. Compute the range, variance,
The branch manager for the D. L. Evens Bank has been asked to prepare a presentation for next week’s board meeting. At the presentation, she will discuss the status of her branch’s loans issued
A parking garage in Memphis monitors the time it takes customers to exit the parking structure from the time they get in their car until they are on the streets.A sample of 28 exits was recently
The Bureau of Labor Statistics in its Monthly Labor Review published the “over-the-month” percent change in the price index for imports from April 2004 to April 2005. These data are reproduced
The U.S. Government Accountability Office recently indicated the price of college textbooks has been rising an average of 6% annually since the academic year 1987–1988. The report estimated that
Each year, Business Week publishes information and rankings of MBA programs. The data file MBA Analysis contains data on several variables for eight reputable MBA programs as presented in the October
Executive MBA programs have become increasingly popular. In an article entitled “The Best Executive MBAs,” Business Week provided data concerning the top 25 executive MBA programs. The tuition
When PricewaterhouseCoopers Saratoga released its 2005/2006 Human Capital Index Report it indicated that the average hiring cost for an American company to fill a job vacancy in 2004 was $3,270.
Consider the following set of sample data:78 121 143 88 110 107 62 122 130 95 78 139 89 125a. Compute the mean and standard deviation for these sample data.b. Calculate the coefficient of variation
You are given the following parameters for two populations:Population 1 Population 2 m 700 m 29,000 s 50 s 5,000a. Compute the coefficient of variation for each population.b. Based on the
Given two distributions with the following characteristics:Distribution A Distribution B m 45,600 m 33.40 s 6,333 s 4.05 If a value from distribution A is 50,000 and a value from distribution
The following data represent random samples taken from two different populations, A and B:A 31 10 69 25 62 61 46 74 57 B 1,030 1,111 1,155 978 943 983 932 1,067 1,013a. Compute the mean and standard
Consider the following sample:22 46 25 37 35 84 33 54 80 37 76 34 48 86 41 13 49 45 62 47 72 70 91 51 91 43 56 25 12 65a. Calculate the mean and standard deviation for this data.b. Determine the
Consider the following population:71 89 65 97 46 52 99 41 62 88 73 50 91 71 52 86 92 60 70 91 73 98 56 80 70 63 55 61 40 95a. Determine the mean and variance.b. Determine the percentage of data

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