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business
business statistics communicating

Questions and Answers of Business Statistics Communicating

The publishing company recently came up with some additional data for the 15 books in the original sample.Two new variables, production expenditures (x5) and number of prepublication reviewers (x6),
Amazon.com has become one of the most successful online merchants. Two measures of its success are sales and net income/loss figures. They are given here.Year Net Income/Loss Sales 1995 0.3 0.5 1996
Consider the following model:y = 5 3x1 5x2a. Provide an interpretation of the coefficient of x1.b. Is the interpretation provided in part a true regardless of the value of x2? Explain.c. Now
Go to the library or use the Internet to locate three articles using a regression model with more than one independent variable. For each article write a short summary covering the following
Refer to Exercise 15-9, which referenced an article in BusinessWeek that presented a list of the 100 companies perceived as having “hot growth” characteristics. The file entitled Logrowth
Examine the following data set:y x1 x2 25 5 25 35 5 5 14 5 5 45 25 40 52 25 5 41 25 25 65 30 30 63 30 30 68 30 25 75 40 30a. Determine the estimated regression equation for this data set.b. Calculate
The consumer price index (CPI) is a measure of the average change in prices over time in a fixed market basket of goods and services typically purchased by consumers. One of the items in this market
A variety of sources suggest that individuals assess their health, at least in part, by estimating their percentage of body fat. A widely accepted measure of body fat uses an underwater weighing
An investment analyst collected data of 20 randomly chosen companies. The data consisted of the 52-weekhigh stock prices, PE ratios, and the market values of the companies. These data are in the file
Which model would you choose? Explain your answer.
Refer to Problem 15-45.a. Develop the correlation matrix that includes all independent variables and the dependent variable.Predict the order that the variables will be selected into the model if
The U.S. Energy Information Administration publishes summary statistics concerning the energy sector of the U.S. economy. The electric power industry continues to grow. Electricity generation and
Consider the following set of data:y x1 x2 x3 x4 61 37 18 2 13 37 25 5 4 10 22 23 12 7 4 48 12 6 2 15 66 34 14 3 25 y x1 x2 x3 x4 69 35 21 2 20 24 23 7 6 9 68 35 15 3 14 65 37 19 2 19 45 30 12 3 12a.
The following data represent a dependent variable and four independent variables:y x1 x2 x3 x4 61 37 13 10 21 37 25 7 11 32 22 23 6 7 18 48 12 8 8 30 66 34 15 2 33 y x1 x2 x3 x4 69 35 19 9 23 24 23
You are given the following set of data:y x1 x2 x3 45 40 41 39 41 31 41 35 43 45 49 39 38 43 41 41 50 42 42 51 39 48 40 42 50 44 44 41 y x1 x2 x3 45 42 39 37 43 37 52 41 34 40 47 40 49 35 44 44 45 39
You are given the following set of data:y x1 x2 x3 33 9 192 40 44 11 397 47 34 10 235 37 60 13 345 61 20 11 245 23 30 7 235 35 y x1 x2 x3 45 12 296 52 25 9 235 27 53 10 295 57 45 13 335 50 37 11 243
The National Association of Realtors Existing-Home Sales Series provides a measurement of the residential real estate market. One of the measurements it produces is the Housing Affordability Index
A regression equation to be used to predict a dependent variable with four independent variables is developed from a sample of size 10. The resulting equation is 32.8 0.470x1 0.554x2 4.77x3
Consider the following values for the dependent and independent variables:x y x y 6 5 18 30 9 20 22 33 14 28 27 35a. Develop a scatter plot of the data. Does the plot suggest a linear or nonlinear
Consider the following values for the dependent and independent variables:x y x y 5 10 50 44 15 15 60 79 40 25 80 112a. Develop a scatter plot of the data. Does the plot suggest a linear or nonlinear
The Energy Information Administration (EIA), created by Congress in 1977, is a statistical agency of the U.S.Department of Energy. It provides data, forecasts, and analyses to promote sound
Refer to Exercise 15-8, which referenced a list of the 100 companies perceived as having “hot growth” characteristics.The file entitled Logrowth contains sales($million), sales increase (%),
An investment analyst collected data about 20 randomly chosen companies. The data consisted of the 52-week-high stock prices, price-to-earnings (PE)ratio, and the market value of the company. These
Consider the following set of data:x2 10 8 11 7 10 11 6 x1 50 45 37 32 44 51 42 y 103 85 115 73 97 102 65a. Obtain the estimated regression equation.b. Examine the coefficient of determination and
The following correlation matrix is associated with the same data used to build the regression model in Problem 15-1:y x1 x2 x3 y 1 x1 0.406 1 x2 0.459 0.051 1 x3 0.244 0.504 0.272 1 Does this
In working for a local retail store you have developed the following estimated regression equation:yˆ 22,167 412x1 818x2 93x3 71x4 where:y Weekly sales x1 Local unemployment rate x2 Weekly
Refer to the Grinfield Service Company discussed in Problem14-64.a. Develop the least squares regression equation for these variables. Plot the regression line on the scatter plot.b. Develop a 95%
One of the advances that have helped to diminish carpal tunnel syndrome is ergonomic keyboards. The ergonomic keyboards may also increase typing speed.Ten administrative assistants were chosen to
The Farmington City Council recently commissioned a study of park users in their community. Data were collected on the age of the person surveyed and the amount of hours he or she spent in the park
A previous exercise discussed the relationship between the average college tuition (in 2003 dollars) for private and public colleges. The data indicated in the article follow:Period 1983–1984
Go to the library and locate an article in a journal related to your major (Journal of Marketing, Journal of Finance, etc.) that uses linear regression. Discuss the following:a. How the author chose
The National Highway Transportation Safety Administration’s National Center for Statistics and Analysis released its Vehicle Survivability Travel Mileage Schedules in January 2006. One item
Gym Outfitters sells and services exercise equipment such as treadmills, ellipticals, and stair climbers to gymnasiums and recreational centers. The company’s management would like to determine if
During the recession that began in 2008, not only did some people stop making house payments, they also stopped making payments for local government services such as trash collection and water and
A sample of 10 yields the following data:x 10 8 11 7 10 11 6 7 15 9 y 103 85 115 73 97 102 65 75 155 95a. Provide a 95% confidence interval for the average y when xp 9.4.b. Provide a 95% confidence
You are given the following summary statistics from a regression analysis:ˆ.(y x SSE SSX X 200 150 25 25 Sum of squares Σ x x nx− ) ,.2 99 645 18 52 0a. Determine the point estimate for y
Referring to the displayed regression model, what percent of variation in the y variable is explained by the x variable in the model?
You are given the following sample data:x y 10 3 6 7 9 3 3 8 2 9 8 5 3 7a. Develop a scatter plot for these data.b. Determine the regression equation for the data.c. Develop a 95% confidence interval
College tuition has risen at a pace faster than inflation for more than two decades, according to an article in USA Today. The following data indicate the average college tuition (in 2003 dollars)
Complaints concerning excessive commercials seem to grow as the amount of “clutter,” including commercials and advertisements for other television shows, steadily increases on network and cable
An article published in USA Today asserts that many children are abandoning outdoor for indoor activities.The National Sporting Goods Association annual survey for 2004 (the latest data available)
A survey performed by Simmons Market Research investigated the percentage of individuals in various age groups who indicated they were willing to pay more for environmentally friendly products. The
The Cooper Company discussed in Problem 13-40 has a second contract with a private firm for which it makes fuses for an electronic instrument. The quality control department at Cooper periodically
Cooper Manufacturing, Inc., of Dallas, Texas, has a contract with the U.S. Air Force to produce a part for a new fighter plane being manufactured. The part is a bolt that has specifications requiring
The College Bookstore has just hired a new manager, one with a business background. Claudia Markman has been charged with increasing the profitability of the bookstore, with the profits going to the
In its ninth year, the Barclaycard Business Travel Survey has become an information source for business travelers not only in the United Kingdom but internationally as well. Each year, as a result of
Based on the sample data in the following frequency distribution, conduct a test to determine whether the population from which the sample data were selected is Poisson distributed with mean equal to
An investigation into the effects of various levels of nitrogren (M. L. Vitosh, Tri-State Fertilizer Recommendations for Corn, Soybeans, Wheat and Alfalfa, Bulletin E-2567) at Ohio State University
PhoneEx provides call center services for many different companies. A large increase in its business has made it necessary to establish a new call center. Four cities are being considered—Little
Maynards, a regional home improvement store chain located in the Intermountain West, is considering upgrading to a new series of scanning systems for its automatic checkout lanes. Although scanners
The use of high-technology materials and design has dramatically impacted the game of golf. Not only are the professionals hitting the balls farther but so too are the average players. This has led
A USA Today editorial addressed the growth of compensation for corporate CEOs. As an example, quoting a study made by BusinessWeek, USA Today indicated that the pay packages for CEOs have increased
Anyone who has gone into a supermarket or discount store has walked by displays at the end of aisles. These are referred to as endcaps and are often prized because they increase the visibility of
A senior analyst working for Ameritrade has reviewed purchases his customers have made over the last six months. He has categorized the mutual funds purchased into eight categories: (1) Aggressive
Recent news stories have highlighted errors national companies such as H & R Block have made in preparing taxes. However, many people rely on local accountants to handle their tax work. A local
The W. Atlee Burpee Co. was founded in Philadelphia in 1876 by an 18-year-old with a passion for plants and animals and a mother willing to lend him $1,000 of “seed money” to get started in
The development of the Internet has made many things possible, in addition to downloading music. In particular, it allows an increasing number of people to telecommute, or work from home. Although
In any of the multiple comparison techniques(Tukey-Kramer, LSD), the estimate of the withinsample variance uses data from the entire experiment. However, if one were to do a two-sample t-test to
A two-way analysis of variance experiment is to be conducted to examine CEO salaries ($K) as a function of the number of years the CEO has been with the company and the size of the company’s sales.
Discuss why in some circumstances it is appropriate to use the randomized complete block design. Give an example other than those discussed in the text where this design could be used.
In journals related to your major locate two articles where tests of three or more population means were important. Discuss the issue being addressed, how the data were collected, the results of the
A one-way analysis of variance has just been performed. The conclusion reached is that the null hypothesis stating the population means are equal has not been rejected. What would you expect the
The amount of sodium in food has been of increasing concern due to its health implications. Beers from various producers have been analyzed for their sodium content. The file entitled Sodium contains
The Iams Company sells Eukanuba and Iams premium dog and cat foods (dry and canned) in 70 countries. Iams makes dry dog and cat food at plants in Lewisburg, Ohio; Aurora, Nebraska; Henderson, North
A psychologist is conducting a study to determine whether there are differences between the ability of history majors and mathematics majors to solve various types of puzzles. Five mathematics majors
Mt. Jumbo Plywood Company makes plywood for use in furniture production. The first major step in the plywood process is the peeling of the logs into thin layers of veneer. A lathe that rotates the
A popular consumer staple was displayed in different locations in the same aisle of a grocery store to determine what, if any, effect different placement might have on its sales. The product was
A manufacturing firm produces a single product on three production lines. Because the lines were developed at different points in the firm’s history, they use different equipment. The firm is
A PEW Research Center survey concentrated on the issue of weight loss. It investigated how many pounds heavier the respondents were than their perceived ideal weight. It investigated whether these
A two-factor experiment yielded the following data:Factor A Factor B Level 1 Level 2 Level 3 Level 1 375 402 395 390 396 390 Level 2 335 336 320 342 338 331 Level 3 302 485 351 324 455 346a.
Consider the following partially completed two-factor analysis of variance table, which is an outgrowth of a study in which factor A has four levels and factor B has three levels. The number of
Consider the following data for a two-factor experiment:Factor A Level 1 Level 2 Level 3 33 30 21 Level 1 31 42 30 35 36 30 Factor B 23 30 21 Level 2 32 27 33 27 25 18a. Based on the sample data, do
Examine the following two-factor analysis of variance table:Source SS df MS F-Ratio Factor A 162.79 4 Factor B 28.12 AB Interaction 262.31 12 Error _______ __ Total 1,298.74 84a. Complete the
When the world’s largest retailer,Wal-Mart, decided to enter the grocery marketplace in a big way with its“Super Stores,” it changed the retail grocery landscape in a major way. The other major
The Cordage Institute, based in Wayne, Pennsylvania, is an international association of manufacturers, producers, and resellers of cordage, rope, and twine. It is a not-for-profit corporation that
In a local community there are three grocery chain stores.The three have been carrying out a spirited advertising campaign in which each claims to have the lowest prices.A local news station recently
Applebee’s International, Inc., is a U.S. company that develops, franchises, and operates the Applebee’s Neighborhood Grill and Bar restaurant chain. It is the largest chain of casual dining
Grant Thornton LLP is the U.S. member firm of Grant Thornton International, one of the six global accounting, Method 1 Method 2 Method 3 Doctorate 83 81 82 Master’s 77 75 79 Bachelor’s 74 73 75
Grant Thornton LLP is the U.S. member firm of Grant Thornton International, one of the six global accounting, tax, and business advisory organizations. It provides firmwide auditing training for its
CB Industries operates three shifts every day of the week. Each shift includes full-time hourly workers, nonsupervisory salaried employees, and supervisors/managers. CB Industries would like to know
The California Lettuce Research Board was originally formed as the Iceberg Lettuce Advisory Board in 1973.The primary function of the board is to fund research on iceberg and leaf lettuce. The
Frasier and Company manufactures four different products that it ships to customers throughout the United States. Delivery times are not a driving factor in the decision as to which type of carrier
A randomized complete block design is carried out, resulting in the following statistics:Source x1 x2 x3 x4 Primary Factor 237.15 315.15 414.01 612.52 Block 363.57 382.22 438.33 SST 364,428a.
The following sample data were recently collected in the course of conducting a randomized block analysis of variance. Based on these sample data, what conclusions should be reached about blocking
The following ANOVA table and accompanying information are the result of a randomized block ANOVA test.Summary Count Sum Average Variance 1 4 443 110.8 468.9 2 4 275 68.8 72.9 3 4 1,030 257.5 1891.7
The following data were collected for a randomized block analysis of variance design with four populations and eight blocks:Group 1 Group 2 Group 3 Group 4 Block 1 56 44 57 84 Block 2 34 30 38 50
A study was conducted to determine if differences in new textbook prices exist between on-campus bookstores, off-campus bookstores, and Internet bookstores. To control for differences in textbook
A regional package delivery company is considering changing from full-size vans to minivans. The company sampled minivans from each of three manufacturers. The number sampled represents the number
Damage to homes caused by burst piping can be expensive to repair. By the time the leak is discovered, hundreds of gallons of water may have already flooded the home. Automatic shutoff valves can
Suppose as part of your job you are responsible for installing emergency lighting in a series of state office buildings. Bids have been received from four manufacturers of battery-operated emergency
The manager at the Hillsberg Savings and Loan is interested in determining whether there is a difference in the mean time that customers spend completing their transactions depending on which of four
The Weidmann Group Companies, with headquarters in Rapperswil, Switzerland, are worldwide leaders in insulation systems technology for power and distribution transformers. One facet of its expertise
ESSROC Cement Corporation is a leading North American cement producer, with over 6.5 million metric tons of annual capacity. With headquarters in Nazareth, Pennsylvania, ESSROC operates production
EverRun Incorporated produces treadmills for use in exercise clubs and recreation centers. EverRun assembles, sells, and services its treadmills, but it does not manufacture the treadmill motors.
In conjunction with the housing foreclosure crisis of 2009, many economists expressed increasing concern about the level of credit card debt and efforts of banks to raise interest rates on these
Examine the three samples obtained independently from three populations:Item Group 1 Group 2 Group 3 1 14 17 17 2 13 16 14 3 12 16 15 4 15 18 16 5 16 14 6 16a. Conduct a one-way analysis of variance
Given the following sample data Item Group 1 Group 2 Group 3 Group 4 1 20.9 28.2 17.8 21.2 2 27.2 26.2 15.9 23.9 3 26.6 21.6 18.4 19.5 4 22.1 29.7 20.2 17.4 5 25.3 30.3 14.1 6 30.1 25.9 7 23.8a.
Respond to each of the following questions using this partially completed one-way ANOVA table:Source of Variation SS df MS F-ratio Between Samples 3 Within Samples 405 __ Total 888 31a. How many
Respond to each of the following questions using this partially completed one-way ANOVA table:Source of Variation SS df MS F-ratio Between Samples 1,745 Within Samples 240 Total 6,504 246a. How many
A manager is interested in testing whether three populations of interest have equal population means.Simple random samples of size 10 were selected from each population. The following ANOVA table and

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