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business
business statistics communicating

Questions and Answers of Business Statistics Communicating

Construct a confidence interval for the population variance.
Discuss features of the x distribution.P-69
In order to conduct a hypothesis test of the population variance, you c o m p u te s2 = 75 from a sample of 21 observations drawn from a normally distributed population.Use the critical value
Find the value x for which: P-399 0.005 a. P(xx) b. P(xx) = 0.01 c. C. P
Find the value x for which: P-399 a. P(xx)=0.025 b. P(x)=0.05 c. P
FILE (Use Excel) Adidas revenues (in millions o f €) in Asia and Latin America for the years 200 5 through 20 0 9 are sh o w n in th e accom panying table; th e data, labeled Adidas Revenues, are
F IL E (Use Excel) Barbara Dwyer, the manager at Lux Hotel, makes every effort to ensure that customers attempting to make phone reservations do not have to wait too long to speak with a reservation
Annual growth rates for individual firms in the toy industry tend to fluctuate dramatically, depending on consumers'tastes and current fads. Consider the following growth rates(in percent) for two
FILE (Use Excel) The following table presents the returns of Fidelity's Select Automotive Fund; the data are also available on the text website, labeled A u to m o tive. This mutual fund invests
A financial analyst maintains that the risk, measured by the variance, of investing in emerging markets is more than 280(% )2. Data on 20 stocks from emerging markets revealed the following sample
FILE Access the data labeled R e n ta ls on the text w ebsite that in clu d es m o n th ly rents o f a t w o - b e d r o o m a p a r tm e n t in tw o cam pus towns: Ann Arbor, Michigan, and Davis,
FIL E (U se Excel) A variety o f p a c k a g in g so lu tio n s ex ist for products th at m u st b e kept within a specific tem p eratu re range. Cold chain distribution is particularly useful in th
F I L E (Use Excel) The m onthly closing stock prices (rounded to th e nearest dollar) for Starbucks Corp. and Panera Bread Co. for th e first six m o n th s o f 2 0 1 0 are rep o rted in th e fo llo
The follow ing tab le sh o w s th e annual returns (in percent) for Fidelity's Electronic and Utilities funds.Year E lectro nic U tilitie s 2005 13.23 9.36 2006 1.97 32.33 2007 2.77 21.03 2008 −
Two basketball players on a sch ool tea m are working hard o n c o n s is t e n c y o f th eir p e r fo r m a n c e . In particular, t h e y are h o p in g to bring d o w n t h e va r ia n c e o f th
A firm h as ju s t d e v e l o p e d a n e w c o s t -r e d u c in g t e c h n o l o g y for producing a certain rep lacem en t part for autom obiles.Since a replacem ent part m ust be produced
C o n sid er t h e fo llo w in g c o m p e t i n g h y p o t h e s e s a n d relev a n t su m m ary statistics:H0: σ2 1 /σ 2 2 ≥ 1 HA: σ2 1 /σ2 2 < 1 Sam ple 1: s 21 = 1 ,3 1 5 a n d n 1 = 17
Consider th e follow ing co m p e tin g h y p o th eses and relevant sum m ary statistics:H0: σ21/σ22 = 1 HA: σ21/σ22 ≠ 1 A ssum e that the tw o populations are normally distributed.a. Using th
Consider th e following m easures based on independently drawn samples from normally distributed populations:S a m p l e 1: s 21 = 2 2 0 , a n d n 1 = 2 0 Sa m p le 2: s 22 = 196, a n d n2 = 15
C o n s tr u c t a 9 0 % interval e s t i m a t e o f t h e ratio o f t h e population variances using the following results from two independently drawn samples from normally distributed
U se t h e F t a b l e t o a p p r o x i m a t e t h e f o l l o w i n g probabilities.PLO5
Find th e v a lu e x for w hic h: PLO4
F IL E (Use Excel) While the housing market has not recovered, real estate investment in college towns continues to promise good returns (The Wall Street Journal, September 24, 2010). With rents
FILE (Use Excel) A ccess th e m iles per gallon (m pg) data on th e text w e b site labeled MPG.a. State th e null and th e alternative h y p o th e se s in order to test w h e th e r or n o t th e
FILE (U se Excel) A realtor in M ission Viejo, California, b eliev es that th e standard deviation o f h o u se prices is m ore than 100 units, w here each unit equals $1,000. A ssum e hou se prices
India Fund, Inc. (IFN) is a d o s e - e n d e d e q u it y m u tual fu nd launched by the Blackstone Group, Asset M anagem ent Arm. A lth ou gh it prom ises im pressive returns, it d o e s s o at t h
A restaurant o w n er is con cern ed a b o u t th e con sisten cy of b u sin e s s. He w a n t s t o d e t e r m in e if t h e s ta n d a r d d e v ia tio n o f t h e profits for e a c h w e e k is
The m a n a g er o f a su perm ark et w o u ld like th e variance o f t h e w a i t i n g t i m e s o f t h e c u s t o m e r s n o t t o e x c e e d 3 m in u tes-sq u ared . Sh e w o u ld ad d a n e
The follow ing tab le s h o w s th e annual returns (in percent) for th e Vanguard Energy Fund from 200 5 through 2009.Year E nergy 2005 44.60 2006 19.68 2007 37.00 2008 − 42.87 2009 38.36 Source:
A consum er advocacy group is concerned about the variability in the cost o f prescription m edication. The group surveys e ight local pharmacies and obtains the follo w in g prices fo r a particular
A replacem ent part fo r a m achine m ust be produced w ith in close specifications in order fo r it to be acceptable to customers. Suppose the sample variance fo r 20 parts turns o u t to b e s2 =
A research analyst is exam ining a stock fo r possible inclusion in his client's p o rtfolio. Over a 10-year period, the sample mean and the sample standard deviation o f annual returns on the stock
You w ould like to test the claim th a t the variance o f a norm ally distributed population is m ore than 2 squared units. You draw a random sample o f 10 observations as 2 , 4, 1 , 3 , 2 , 5 , 2 ,
The following values are drawn from a normal population.20 29 32 27 34 25 30 31a. Calculate the point estimates of the population variance and the population standard deviation.b. Compute a 95%
FILE (Use Excel) The SAT is required of most students applying for college admission in the United States. This standardized test has gone through many revisions over the years. In 2005, a new
A random sample of 25 observations is used to estimate the population variance. The sample mean and sample standard deviation are calculated as 52.5 and 3.8, respectively. Assume that the population
In order to derive a confidence interval of the population variance, a random sample of n observations is drawn from a normal population. Use this information to find χ2α/2,df and χ21 − α/2,df
Conduct a hypothesis test for the ratio of two population variances.P-399
Construct a confidence interval for the ratio of two population variances. P-399
Discuss features of the F distribution. P-399
Conduct a hypothesis test for the population variance. P-399
Construct a confidence interval for the population variance. P-399
Discuss features of the x distribution. P-399
F IL E (Use Excel) The accompanying table shows annual return data from 2001– 2009 for Vanguard's Balanced Index and European Stock Index mutual funds. The data can also be accessed from the text
A new study has found that, on average, 6- to 12-year-old children are spending less time on household chores today compared to 1981 levels (The Wall Street Journal, August 27, 2008). Suppose two
FILE (Use Excel) The following table shows the annual returns (in percent) for Fidelity's Select Electronic and Select Utilities mutual funds. These data can also be found on the text website,
The nutritionist from Exam ple 10,7 also w ants to use the data from the 4 0 Starbucks cardholders in order to determ ine if the posting o f caloric inform ation has reduced the intake of average
Despite his inexperience and some perception that he is a risky choice, candidate A appears to have gained support among the electorate. Three months ago, in a survey of 120 registered voters, 55
Let’s revisit Example 10.9. Specify the competing hypotheses in order to determine whether the proportion of those who favor Candidate A has changed over the threemonth period. Using the 95%
Recent research by analysts and retailers claims significant gender differences when it comes to online shopping (The Wall Street Journal, March 13, 2008).A survey revealed that 5,400 of 6,000 men
While we expect relatively expensive wines to have more desirable characteristics than relatively inexpensive wines, people are often confused in their assessment of the quality of wine in a blind
FILE(Use Excel) An engineer wants to determine the effectiveness of a safety program. He collects annual loss of hours due to accidents in 12 plants "before and after" the program was put into
A recent Health o f Boston report suggests that 14% o f female residents suffer from asthma as opposed to 6% of males (The Boston Globe, August 16, 2010). Suppose 250 females and 200 males responded
According to th e Pew report, 14.6% o f new ly married c o u p l e s in 2 0 0 8 r ep o rted th a t their s p o u s e w a s o f a n o t h e r race or ethnicity (CNNLiving, J u n e 7 , 2 0 1 0 ). In a
A recent study claims that girls and boys do not do equally well on math tests taken from the 2nd to 11th grades (The Chicago Tribune, July 2 5 , 2008). Suppose in a representative sample, 344 of 430
Given construct a 90% con fid en ce interval for th e difference b e tw e e n t h e p o p u la tio n p r o p o rtio n s. Is th e r e a statistical d iffe re n ce b e tw e e n th e population
Given x 1 = 50, n 1 = 2 0 0 , x 2 = 70, n 2 = 2 5 0 construct a 95%c o n f id e n c e interval for t h e d ifference b e t w e e n t h e p o p u la tio n p roportion s. Is t h e r e a statistical d
ES(Use Excel) A recent report criticizes SAT-testpreparation providers for promising big score gains without any hard data to back up such claims (The Wall Street Journal, May 2 0 , 2009). Suppose
FILE (Use Excel) Researchers at The Wharton School of Business have found that men and wom en shop for different reasons (Knowledge@Wharton, November 2 8 , 2007). While women enjoy the shopping
A bank employs two appraisers. When approving borrowers for mortgages, it is imperative that the appraisers value the same types of properties consistently. To make sure that this is the case, the
A manager of an industrial plant asserts that workers on average do not complete a job using Method A in the same amount of time as they would using Method B. Seven workers are randomly selected.
Consider the following matched samples representing observations before and after an experiment. Assume that sample data are drawn from two normally distributed populations.a. Construct the competing
A sample of 35 paired observations generates the following results:a. Specify the appropriate hypotheses to test if the mean difference is greater than zero.b. Compute the value of the test statistic
Consider th e follow ing c o m p e tin g h y p o th eses and accom panying sam ple results.Hypotheses: H0: μD ≤ 0; H A: μD > 2 Sam ple results:a. Calculate t h e v a lu e o f t h e t e s t
C onsider t h e f o llo w in g c o m p e t in g h y p o t h e s e s a n d accom panying sam ple results. PG-69 Hypotheses: H0: μD ≥ 0; HA: μD < 0 Sam ple results:a. C alculate t h e v a lu e o f
The following table contains information on matched samples drawn from populations that are assumed to be normally distributed. PG-69a. C onstruct a 95% c o n f id e n c e interval for t h e m e a n
A s a m p le o f 2 0 p a ired o b s e r v a tio n s g e n e r a t e s t h e f o llo w in g data: A s s u m e a normal distribution.a. Construct a 90% confidence interval for the mean difference
(Use Excel) Baseball has always been a favorite pastime in America, and is rife w ith statistics and theories. While baseball purists may disagree, to an applied statistician no topic in baseball is
(Use Excel) According to a study published in the New England Journal o f Medicine, overweight people on lowcarbohydrate and Mediterranean diets lost more weight and got greater cardiovascular
(Use Excel) A consumer advocate researches the length of life between two brands of refrigerators, Brand A and Brand B. He collects data on the longevity of 40 refrigerators for Brand A and repeats
A joint project of the U.S. Census Bureau and the National Science Foundation shows that people with a bachelor's degree who transferred from a community college earn less than those who start at a
According to a new Health of Boston report, female residents in Boston have a higher average life expectancy as compared to male residents (The Boston Globe, August 16, 2010). You collect the
Consider the following sample data drawn independently from normally distributed populations with unequal population variances. PG-69a. Construct the relevant hypothesis to test if the means of the
Consider the following sample data drawn independently from normally distributed populations with equal population variances. PG-69a. Construct the relevant hypotheses to test if the mean of the
Consider the following competing hypotheses and accompanying sample data. PG-69Assume that the populations are normally distributed with unknown but equal variances.a. Calculate the value of the test
Consider the following competing hypotheses and accompanying sample data drawn independently from normally distributed populations. PG-69a. Implement the test at the 5% level under the assumption
Consider the following competing hypotheses and accompanying sample data. The two populations are known to be normally distributed. PG-69a. Implement the test at the 5% level under the assumption
Consider the following data: PG-69a. Construct a 95% confidence interval for the difference between the population means.b. Specify the competing hypotheses in order to determine whether or not the
Make inferences about the difference between two population proportions based on independent sampling. PG-69
Make inferences about the mean difference based on matched-pairs sampling. PG-69
Make inferences about the difference between two population means based on independent sampling. PG-69
W hat is the probability that a reader carries at least two credit c? L05
You have a choice of receiving $ 1,000 in cash or receiving a beautiful painting from your grandmother. The actual value of the painting is uncertain. You are told that the painting has a 20% chance
Using the information in Example 5.5, answer the following questions.a. Calculate and interpret the correlation coefficient between the returns on Stocks A and B.b. Calculate the portfolio variance
From past experience, a manager of an upscale shoe store knows that 85% of her customers will use a credit card when making purchases. Suppose three customers are in line to make a purchase.a. Does
Approximately 20% of U.S. workers are afraid that they will never be able to retire(bankrate.com, June 23, 2008). Suppose 10 workers are randomly selected.a. W hat is the probability that none of the
In 2007 approximately 4.7% of the households in the Detroit metropolitan area were in some stage of foreclosure, the highest foreclosure rate in the nation (The Associated Press, February 13, 2008).
We can now address questions first posed by Anne Jones in the introductory case of this chapter. Recall that Anne is concerned about staffing needs at the Starbucks that she manages. She has specific
Last year, even as a recession gripped the country, 114 microbreweries and brewpubs opened in the United States (The Wall Street Journal, March 18, 2009). Assume this number represents an average and
Wooden boxes are commonly used for the packaging and transportation of mangoes. A convenience store in Morganville, New Jersey, regularly buys mangoes from a wholesale dealer. For every shipment, the
(Use com puter) Many U.S. households still do no t have In ternet access. Suppose 20 ou t of 80 households in a small so uthern tow n do no t have In ternet access. A com pany th a t provides high sp
A professor has learned th a t th ree stu d en ts in her class of 20 will ch eat on th e exam . She decides to focus her atten tio n on four random ly chosen stu d e n ts during th e exam .a. W hat
(Use computer) Despite the fact that hom e prices seem affordable and m ortgage rates are at historic lows, real estate agents say they are showing more homes, but not selling more (The Boston Globe,
Studies have shown that bats can consume an average of 10 mosquitoes per minute (berkshiremuseum.org).a. Calculate the average number of mosquitoes that a bat consumes in a 30-second interval.b. W
(Use computer) According to a survey by consulting firm Watson Wyatt, approximately 19% of employers have eliminated perks or plan to do so in the next year (Kiplinger's Personal Finance, February
(Use computer) Twenty percent of U.S. mortgages are"underwater" (The Boston Globe, March 5 , 2009). A mortgage is considered underwater if the value of the home is less than what is owed on the
According to the Department o f Transportation, 27% of domestic flights were delayed last year (Money, May 2008). At New York's John F. Kennedy Airport, five flights are randomly selected.a. What is
Forty-four percent of consumers with credit cards carry balances from month to month (bankrate.com, February 20, 2007). Four consumers with credit cards are randomly selected.a. What is the
Facing the worst economic climate since the dot-com bust in the early 2000s, high-tech companies in the U.S. search for investment opportunities with cautious optimism (USA Today, February 17, 2009).
(Use computer) Powerball is a jackpot game with a grand prize starting at $20 million and often rolling over into the hundreds of millions. In 2006, the jackpot was $365 million.The winner may choose

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