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business
business statistics for contemporary

Questions and Answers of Business Statistics For Contemporary

According to the Office for National Statistics (ONS), the monthly growth rate in the quantity of goods bought in Great Britain increased by 1.0% in January 2019, after a 0.7% decline in December
Following is a random sample of seven (x, y) pairs of data points:111, 1022 115, 512 16, 252 114, 302 110, 212 18, 562 113, 302a. Compute the covariance.b. Compute the correlation coefficient.
Following is a random sample of 11 (x, y) pairs of data points:115, 452 16, 182 111, 332 112, 362 116, 482 114, 422 15, 152 117, 512 14, 122 119, 572 17, 212a. Compute the covariance.b. Compute the
In Chapter 1, we described graphically using a frequency distribution table and a histogram the time (in seconds) for a random sample of n = 110 employees to complete a particular task. Describe the
The number of problems solved on the entrance exam is given in the table:Number of Exams 0 1 2 3 4 Number of Problems 100 110 130 50 10 Find the mean and standard deviation of the number of problems
For predicting credit default, a sample of 20 financial data analysts was asked to provide forecasts of credit scores for next year. The results are summarized in the following table:Forecast (£
A survey was conducted to find the amount of money university students spend during Valentine's day. A random sample of 28 students was selected from a local university in Brussels and their
Frequent-flyer programs are customer loyalty programs used by many passenger airlines.The following table shows the number of award trips offered to 60 passengers during the last year.Number of Award
An online-grocery market is growing fast. A sample of 40 customers is selected and the number of online orders over the last month are listed in the following table.Number of Orders 0 1 2 3 Number of
A drive-through fast-food chain obtained the following pick-up times (number of minutes between the time an order is placed and the time the order is picked up at the drive-through window). A random
Consider the following frequency distribution for a sample of 40 observations:Class Frequency 0 6 5 5 5 6 10 6 10 6 15 12 15 6 20 10 20 6 25 7a. Calculate the sample mean.b. Calculate the sample
Consider the following sample of five values and corresponding weights:xi wi 4.7 8 3.8 7 5.7 4 2.6 3 5.5 2a. Calculate the arithmetic mean of the xi values without weights.b. Calculate the weighted
Calculate the mean Croatian kuna (kn) amount and the standard deviation for the kuna amounts charged to the Master Card account at Pristavi Kavu, a local cafe in Croatia, for the coffee sold.Data are
The assessment rates (in percentages) assigned to a random sample of 40 commercially zoned parcels of land in the year 2012 are stored in the data file Rates.a. What is the standard deviation in the
In Chapter 1 we described graphically, with a frequency distribution and histogram, the time(in seconds) for a random sample of n = 110 employees to complete a particular task. Describe the data in
According to CleanTechnica website, Sweden’s full electric vehicles took a record high 24.1%share of new sales, with the Kia e-Niro being Sweden’s best-selling full electric vehicle. Suppose you
Navigating through an airport can be quite chaotic.You could instead choose to spend your waiting time at one of the airport lounges—hospitality areas where you can relax and enjoy food and
The daily EUR to USD exchange rates converting from February 5 to 14, 2019 (business days only) were as follows:1.1410 1.1363 1.1351 1.1324 1.1276 1.1332 1.1266 Over the same period, the daily USD to
A set of data is mounded, with a mean of 300 and a variance of 144. Approximately what proportion of the observations isa. greater than 288?b. less than 324?c. greater than 336?Application Exercises
If the mean of a population is 190 and its standard deviation is 15, approximately what proportion of observations is in the interval between each pair values?a. 145 and 235b. 160 and 220
Construct a stem-and-leaf display of the number of cars that pass through the payment point mentioned in Exercise 2.15. Then find the interquartile range.2.17 A random sample of data has a mean of 77
The number of cars that pass through a payment point on an A1-highway toll road during a period of 35 days are as follows:60 70 74 56 84 54 50 47 80 71 50 95 121 90 75 84 70 61 110 64 80 85 85 43 76
Calculate the coefficient of variation for the following sample data:13 15 12 14 11
Compute the variance and standard deviation of the following sample data:5 -3 0 2 -1 7 4
Compute the variance and standard deviation of the following sample data:5 9 10 2 7 9 14
The data file Sun contains the volumes for a random sample of 100 bottles (237 mL) of a new suntan lotion.a. Find and interpret the mean volume.b. Determine the median volume.c. Are the data
A sample of 33 accounting students recorded the number of hours spent studying the course material during the week before the final exam. The data are stored in the data file Study Data.a. Compute
A random sample of 156 grade point averages for students at one university is stored in the data file Grade Point Averages.a. Compute the first and third quartiles.b. Calculate the 30th percentile.c.
Private rented sector is showing strong growth due to an increase number of tourists. A tourist office wants to examine the number of 4-bedroom apartments available for rent in the local city over
A textile manufacturer obtained a sample of 50 bolts of cloth from a day’s output. Each bolt is carefully inspected and the number of imperfections is recorded as follows:Number of imperfections 0
During the last couple years many countries faced depopulation. Ten counties of a certain country are selected and the number of elementary schools closed are found:10 6 13 5 11 5 6 3 7 9a. Find the
A manager at the Norinchukin Bank, a Japanese cooperative bank, randomly sampled 12 overdrawn bank accounts.The following overdrafts are found (in 000 yen):1.2 3.15 2.33 4.15 3.1 2.74 3.1 2.63 1.8
Alpha Yatching, a yatch charter in Greece, reviewed its finances at the end of 2018. The records over the last 10 years show that the following amount ( in €000)was spent on maintenance and repairs
The records of a university in Berlin over a 12-year period show the following percentage increase in the number of students enrolled:4.1 3.5 3.2 4.6 5.1 3.8 3.2 5.7 4.4 3.8 2.9 3.2a. Compute the
Israel’s Ministry of Transport and Road Safety is interested in the number of cars passing through the Wadi Araba crossing between Israel and Jordan. Records over a 5-day period show the following
A random sample of 5 weeks showed that a cruise agency received the following number of weekly specials to the Caribbean:17 71 78 80 84a. Compute the mean, median, and mode.b. Which measure of
A professor wants to explore the relationship between the grades students receive on their first classroom quiz (X) and the grade they receive on their first aptitude test (Y). Aptitude test scores
How much time (in minutes) do people spend on a typical visit to a local mall? A random sample of n = 104 shoppers was timed and the results (in minutes) are stored in the data file Shopping Times.a.
The Greater London Authority (GLA) collects data on equality, diversity, and inclusion, to support the Mayor’s strategy in that area. One measure related to work is the difference between male and
The Association of Tennis Professionals (ATP)Tour data from February 1 to 20, 2021, tennis season are saved in the file Tennis.a. Construct a time series plot of the ATP entry points of the match
A company plans to conduct two types of training(technical and leadership) for employees, either in the evening during weekdays or in the morning during weekends. The employees are allowed to choose
Guest satisfaction in the hospitality industry is extremely important. A hotel conducted a short satisfaction survey (very unsatisfied, unsatisfied, neutral, satisfied, and very satisfied) on every
Construct a time-series plot of population growth for the state of New York from 2002 to the present. (Hint:Check www.census.gov.)
A company requested its sales team to record their sales (in $000) and the distance traveled (in km) for each month. At the end of the year, an auditor selects a random sample from the records of a
A random sample of investors was selected to determine which type of investment plan they preferred the most from a list of five. The results showed that 45 investors preferred plan I, 29 preferred
To analyze his business and optimize his inventory, a school bag seller wants to know whether students prefer single-colored or multicolored school bags. He selects a random sample of 450 students
A computing course offers four different programming languages: Java, Python, Kotlin, and TypeScript. A random sample of 200 learners was selected from the recent enrollment data, and it was found
The coach of a rowing team wants to know if working with a sport nutritionist will improve the performance of the elite rowers. A random sample of eight members of his crew took part in a year-long
The CEO of tradeindia.com wants information concerning the relationship between the age of an individual(in years) and weekly sales (in hundreds of rupees).He obtained the following random sample of
A statistics lecturer studied the average time (in hours) her students spent studying per week and the marks (in %) they scored in the final examination of the first semester. The following are the
Management of a supermarket wants to find the relationship between the £ price of milk and the average daily demand for milk. A random sample of (price, quantity) data for eight days of operation
For the total number of vessels owned by each country in Exercise 1.57, the following breakdown for two different categories (national flag or foreign flag) was obtained:Number of vessels Total
The Review of Maritime Transport 2020 prepared by UNCTAD (https://unctad.org) provides an update on the latest trends in maritime trade, supply, markets, key performance indicators, and legal and
The sales team of a perfume company, Bloom, is asked to report their previous month’s sales. The perfumes that Bloom sells include Flower Parfum Spray, Black Night Parfum, Bairdiella Parfum Spray,
How familiar are consumers with ecommerce? Suppose a survey is conducted among consumers who had recently shopped online for the first time. The survey found that 89% were able to use the Internet to
Management of a British firm recognize that statistics is useful for business decisions, but do not think it is important to have an in-depth knowledge of it.The firm decides to conduct a survey to
In one region it was found that 32% of shoppers with incomes less than €50,000 shop online; 48% of those with incomes between €50,000 and €74,999 shop online;and 20% of those with incomes of at
A financial analyst has recorded a random sample of stock price return over the last 30 days. The observations are summarized in the following table:Stock Price (€) Number of Days 19.95 6 20.45 2
Describe graphically the average amount of money a person spends on movie tickets each month (in € per month).6.0 5.3 4.0 5.7 4.3 6.8 4.1 3.4 3.9 5.0 6.5 4.7 6.2 2.5 1.9 4.5 3.1 2.4 3.5 2.3 3.1 5.5
The data file Real GDP Germany shows the annual growth rate of real GDP for Germany over the period 1992 to 2019. Construct two time-series plots for this series with different vertical
The data file Exchange Rate shows an index of the value of the U.S. dollar against trading partners’currencies over 12 consecutive months.a. Construct a time-series plot of this data using a
The following table lists the number of tickets sold in a local theater in Germany during the 2018.Month Number of Tickets Month Number of Tickets 1 5,230 7 5,702 2 5,120 8 5,190 3 5,880 9 5,760 4
A supervisor of a plant kept records of the time (in seconds) that employees needed to complete a particular task. The data are summarized as follows:Time 30 6 40 40 6 50 50 6 60 60 6 80 80 6 100 100
Many small cities make significant efforts to attract commercial operations such as shopping centers and large retail stores. One of the arguments is that these facilities will contribute to the
Sales revenue totals (in dollars) by day of the week are contained in the data file Stordata.Prepare a cross table that contains the days of the week as rows and the four sales quartile intervals as
Sixteen transport companies offer a bus transportation from a local city in Croatia, Split, to Croatia’s capital, Zagreb. Croatia’s transportation department wants to estimate whether the number
Bishop’s supermarket records the actual price for consumer food products and the weekly quantities sold. Use the data file Bishop to obtain the scatter plot for the actual price of a gallon of
Doctors are interested in the possible relationship between the dosage of a medicine and the time required for a patient’s recovery. The following table shows, for a sample of 10 patients, dosage
A corporation administers an aptitude test to all new sales representatives. Management is interested in the possible relationship between test scores and the sales representatives’ eventual
Eight different regions in Croatia set different prices for renting a three bedroom holiday house or apartment.The accompanying table shows the number of apartments rented and the corresponding
Ann Thorne, the operations manager at a suntan lotion manufacturing plant, wants to be sure that the filling process for 8-oz (237 mL) bottles of SunProtector is operating properly. Suppose that a
Electric cars come in a wide range of models, with various price levels, battery capacities, driving range, and sizes. Suppose you are an employee at a leasing company, and your manager asks you to
The following table shows the age of the faculty members of the largest university in Lithuania who have obtained a PhD degree.Age Percent 26–28 18.48 29–32 23.12 33–40 30.51 41–45 12.09
Prepare a scatter plot of the following data:14, 542 120, 662 114, 492 112, 662 18, 472 13, 572 18, 542 120, 562 118, 502 115, 662 18, 542 16, 572 110, 542 120, 532 114, 502 115, 562 18, 592 13, 572
Consider the following frequency distribution for a random variable x:Class Frequency 0 … x 6 10 10 10 … x 6 20 12 20 … x 6 30 16 30 … x 6 40 15 40 … x 6 50 11a. Construct a relative
Construct a stem-and-leaf display for the price (in dollars) of 20 cryptocurrencies that is spent to make international money transfers.5.2 5.0 3.6 3.6 3.5 3.9 4.4 3.0 3.3 4.8 2.6 2.2 2.1 6.2 1.6 5.5
Consider the following data:17 62 15 65 28 51 24 65 39 41 35 15 39 32 36 37 40 21 44 37 59 13 44 56 12 54 64 59a. Construct a frequency distribution.b. Construct a histogram.c. Construct an ogive.d.
Market shares for a period of 14 months for various Internet providers are contained in the data file Browser Wars.a. Use a time-series plot to graphically display the worldwide market shares of IE,
In Example 1.6 we plotted the USD to 1 EUR for a 6-month time period.a. Use a time-series plot to graphically display the currency conversion from the EUR to 1 USD. The data are contained in the data
Information about GDP (Gross domestic product), which is a measure of the economic activity and is important to business owners and economists.a. Use a time-series plot to graph real GDP growth rate
The data file Diversity contains data from Google’s 2021 Diversity Annual Report. Use a time plot to graph percentages of global male and female representation (hiring minus attrition).
The number of male and female Indian tourists visiting Korea from March 2018 to December 2018 is given in the following table. Graphically present these data with a time-series plot.Number of
Construct a time-series plot for the following number of customers shopping at a new mall during a given week.Day Number of Customers Monday 516 Tuesday 534 Wednesday 451 Thursday 487 Friday 558
Internet Explorer (IE) dropped below 50% of the worldwide market for the first time in September 2010 (StatCounter Global Stats Microsoft 2010).IE’s worldwide market share continued to decrease
Part of the PISA project is a questionnaire on factors that influence study success. Enjoyment of reading is one such factor. The PISA questionnaire includes several questions about this, including
A random sample of 130 firms was asked whether they have been involved in merger and acquisition activities during the last two years. The researcher also noted the main sector each firm operates in.
On what social media platform do you spend the most time? The responses from a random sample of 1,200 Internet users were Instagram, 382; Facebook, 226;LinkedIn, 350; Twitter, 85; Tumblr, 56; and
A tennis coach kept a record of the most serious type of errors made by each player during a 1-week training camp. The data are stored in the data file Tennis.a. Construct a Pareto diagram of total
The European Central Bank (ECB) published a reliable and complete statistics of annual structural financial indicators for the banking sector in the European Union (EU). It comprises statistics on
The supervisor of a factory conducted a survey on how long it takes employees to get to work based on the mode of transportation they use. The following table contains data from a random sample of
Bank clients were asked to indicate their level of satisfaction with the service provided by the bank’s tellers.Responses from a random sample of customers were as follows: 67 were very satisfied,
A company has determined that there are seven possible defects for one of its product lines. Construct a Pareto diagram for the following defect frequencies:Defect Code A B C D E F G Frequency 10 70
A university administrator requested a breakdown of travel expenses for faculty to attend various professional meetings. It was found that 41% of the travel expenses was spent for transportation
The Programme for International Student Assessment(PISA) is a global study by the Organization for Economic Co-operation and Development(OECD). It measures 15-year-old students’ ability to use
A survey of students at one college was conducted to provide information to address various concerns about the college’s library. This information and other data about the students are stored in
Residents in one housing development were asked a series of questions by their homeowners’ association.Identify the type of data for each question.a. Did you play golf during the last month on the
Tourists visiting Croatia are asked to participate in a survey, consisting of various questions regarding their experience during their trip, which have been provided below. For each question,
Faculty at one university were asked a series of questions in a recent survey. State the type of data for each question.a. Indicate your level of satisfaction with your teaching load (very satisfied,
The Budapest Airport managers circulated a form to find out passengers’ level of satisfaction with the lounges and VIP services. The passengers who frequented the lounges and used the services were
Upon visiting a newly opened Starbucks store, customers were given a brief survey. Is the answer to each of the following questions categorical or numerical? If categorical, give the level of

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