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business
business statistics for contemporary

Questions and Answers of Business Statistics For Contemporary

Suppose that we obtained an estimated equation for the regression of weekly sales of palm pilots and the price charged during the week. Interpret the constant b0 for the product brand manager.
Explain the difference between the residual ei and the model error ei.
What is the difference between a population linear model and an estimated linear regression model?
An agent for a real estate company in a large European city collected data, as shown in the following table, on the sizes (x in square feet) and monthly rents (y in euros)of a sample of eight
As the new market manger for Blue Crunchies breakfast cereal, you are asked to estimate the demand for next month using regression analysis. Two months ago the target market had 20,000 families and
A critically important aspect of customer service at a supermarket is the waiting time at the checkout. Refer to the data file Supermarket, which contains total number of customers in the store (x)
Given the regression equation Y = 100 + 21Xa. What is the change in Y when X changes by +5?b. What is the change in Y when X changes by -7?c. What is the predicted value of Y when X = 14?d. What is
Given the regression equation Y = 43 + 10Xa. What is the change in Y when X changes by +8?b. What is the change in Y when X changes by -6?c. What is the predicted value of Y when X = 11?d. What is
Given the regression equation Y = -50 + 12Xa. What is the change in Y when X changes by +3?b. What is the change in Y when X changes by -4?c. What is the predicted value of Y when X = 12?d. What is
Given the regression equation Y = 56 - 3Xa. What is the change in Y when X changes by +4?b. What is the change in Y when X changes by -7?c. What is the predicted value of Y when X = 10?d. What is the
A random sample of 12 college baseball players participated in a special weight-training program in an attempt to improve their batting averages. The program lasted for 20 weeks immediately prior to
Simoné Berk, president of Food Unlimited, has asked you to study the relationship between market price(euros) and the amount of rice (kg) supplied by her competitor, Good Food, Inc. Simoné supplies
A large consumer goods company has been studying the effect of advertising on total profits. As part of this study, data on advertising expenditures and total sales were collected for a five-month
A random sample of data for 7 days of operation produced the following (price, quantity) data values:Price per Gallon of Paint, X Quantity Sold, Y 10 100 8 120 5 200 4 200 10 90 7 110 6 150a. Prepare
The following data give X, the price charged per piece of plywood, and Y, the quantity sold (in thousands).Price per Piece, X Thousands of Pieces Sold, Y $6 80 7 60 8 70 9 40 10 0a. Prepare a scatter
Complete the following for the 1x, y2 pairs of data points (3,1), (4,5), (5,4), (7, 6), and (9, 8).a. Prepare a scatter plot of these data points.b. Compute b1.c. Compute b0.d. What is the equation
We will now understand the effects of another home condition: does the student have books at home to help with their school work? Using a random sample of 500 observations from the PISA database, to
Let us now investigate the effects of another home condition: does the student have access to the Internet at home? Using a random sample of 500 observations from the PISA database, to be found in
Let us now investigate another home condition:can the student use educational software at home?Using a random sample of 500 observations from the PISA database, to be found in the data file PISA
Let us look at another home condition in this exercise:does the student have a computer for school work at home? Using a random sample of 500 observations from the PISA database, to be found in the
In this exercise, let us look at a third home condition that might affect the reading and mathematics scores of 15-year-old students: does the student have a quiet place to study at home? Using a
In this exercise, we will be looking at another home condition that might affect the mathematics and readings scores of 15-year-old students: does the student have a room of their own at home? Using
Another one of equity’s dimensions in the PISA studies is home conditions/facilities available to the student is also a factor. Does the education system succeed in adequately compensating for
Equity is a major theme in the PISA studies of the mathematics and reading performance scores of 15-year-olds around the world. Equity has several dimensions, one of which is gender equity. Using a
A study was conducted to determine if there was a difference in humor content in British and American trade magazine advertisements. In an independent random sample of 300 American trade magazine
Mary Peterson is in charge of preparing blended flour for exotic bread making. The process is to take two different types of flour and mix them together in order to achieve high-quality breads. For
Mortgage banks in a European country are very competitive, with institutions competing over market shares. As a local branch manager of Bank H, you are competing with the local branches of Bank S and
You are the product manager for brand 4 in a large food company. The company president has complained that a competing brand, called brand 2, has higher average sales. The data services group has
We would like to investigate if positive and negative affect measure really different concepts(beyond the direction of these variables being opposite) in the United Nations’ World Happiness Report.
Most retail outlets like H&M, Zara, and Forever21 have an end-of-season sale in December every year.Suppose the manager of a retail chain in Arezzo, Italy, wants to know the sales for two outlets and
The COVID-19 pandemic has significantly affected the real estate market in a country where there was a large decline in demand and nationwide home prices dropped to their lowest. To study the impact
Let us analyze if differences exist in the 2020 scores for SocialSupport, FreedomToMakeLifeChoices, and PerceptionsOfCorruption between African nations (Sub-Saharan Africa and North Africa together)
We will now investigate if differences exist in the 2020 scores for LadderChange, PosAffectChange, and NegAffectChange between African nations and American nations (taking the northern and southern
Independent random samples of employees in administration and support services were taken from an IT company to determine employee satisfaction levels.Of 36 administrative employees, 30 were
Of a random sample of 80 health insurance firms in Europe, 63 did public relations in-house, as did 52 of an independent random sample of 80 casualty insurance firms.Find and interpret the p-value of
A random sample of online gamers was drawn from a gaming website that focused on skill development. Of a sample of 83 gamers who played multiplayer games, 64 had participated in BlizzCon, an annual
Aimed at finding monthly tips earned by the waiter and waitress in a restaurant, a random sample of 11 waiters at a restaurant showed that the mean monthly tips earned by them was $67.058, and the
Suppose Universiti Kuala Lumpur, Malaysia, offers business communication as an elective module. Of a random sample of 154 accounting students, 62 have taken the module. This same elective was taken
Independent random samples of patients who had received knee and hip replacement were asked to assess the quality of service on a scale from 1 (low) to 7 (high). For a sample of 83 knee patients, the
A survey was conducted to determine the difference between the annual salaries of employees with and without a college degree. For a sample of 115 employees with a college degree, the mean salary per
In this exercise, we will investigate if differences exist in the 2020 scores of SocialSupport, FreedomToMakeLifeChoices, and PerceptionsOfCorruption between European and Asian nations. Using the
The World Happiness Report is an annual UN Sustainable Development Solutions Network publication. The first of this was published in 2011, in line with the Bhutanese Resolution passed by the UN
A study was conducted to determine the weight (in lbs)gained by babies after consuming two different brands of baby food (A and B) for three months. For a random sample of 10 babies who consumed
Independent random samples of bachelor’s and master’s degree holders in statistics, whose initial job was with a major actuarial firm and who subsequently moved to an insurance company, were
Equities and bonds are two of the most traded asset classes. A financial analysist is interested to know the annual return rate performance between the equities and bonds. She randomly samples the
In a study on the exercise habits of two groups of nonbinary individuals, A and B, a random sample of 36 people from group A indicated an average of 10.25 hours weekly exercise with a standard
Researchers test the null hypothesis that the proportion of three-year-old children receiving their initial formal education in an urban location is the same as the proportion of those in a rural
A university research team was studying the relationship between idea generation by groups with and without a moderator. For a random sample of four groups with a moderator, the mean number of ideas
A publisher is interested in the effects on sales of college texts that include more than 100 data files. The publisher plans to produce 20 texts in the business area and randomly chooses 10 to have
To evaluate if auditors might be helped in determining the chances of fraud if they carefully measure cash flow, samples of midlevel auditors from CPA firms were asked to indicate the chance of
It is hypothesized that the total sales of a corporation should vary more in an industry with active price competition than in one with duopoly and tacit collusion.In a study of the merchant ship
A professor claims that exam scores for non-accounting majors are more variable than for accounting majors.Random samples of 30 non-accounting majors and 30 accounting majors are taken from a final
Test the hypothesis H0 : s2x= s2y H1 : s2x 7 s2y using the following data.a. s2x= 125, ny = 45; s2y= 51, ny = 41b. s2x= 125, ny = 45; s2y= 235, ny = 44c. s2x= 134, ny = 48; s2y= 51, ny = 41d. s2x=
Of a random sample of 1,000 people in Denmark, 500 had a positive attitude toward TV salespeople. Of an independent random sample of 1,600 people in France, 730 had a positive attitude toward TV
Two different independent random samples of consumers were asked about satisfaction with their computer system each in a slightly different way. The options available for answer were slightly
Of a random sample of 455 high-quality investment equity options, 203 had less than 30% debt. Of an independent random sample of 205 high-risk investment equity options, 183 had less than 30% debt.
Employees of a building materials chain in Monaco who were facing a shutdown were surveyed on a prospective employee ownership plan. Some employees pledged €10,000 to this plan, putting up €1,000
Small-business telephone users were surveyed 6 months after access to carriers other than Carrier A became available for wide-area telephone service.Of a random sample of 240 Carrier A users, 133
A random sample of 1,556 people in country A were asked to respond to this statement: Increased world trade can increase our per capita prosperity. Of these sample members, 38.4% agreed with the
Random samples of 900 people in the United States and in Great Britain indicated that 60% of the people in the United States were positive about the future economy, whereas 66% of the people in Great
Test the hypotheses H0 : Px - Py = 0 H1 : Px - Py 6 0 using the following statistics from random samples.a. pn x = 0.42, nx = 500;pn y = 0.50, ny = 600b. pn x = 0.60, nx = 500;pn y = 0.64, ny = 600c.
A publisher is interested in the effects on sales of college texts that include more than 100 data files.The publisher plans to produce 20 texts in the business area and randomly chooses 10 to have
The recent financial collapse has led to considerable concern about the information provided to potential investors. The government and many researchers have pointed out the need for increased
A political science professor is interested in comparing the characteristics of students who do and do not vote in national elections. For a random sample of 114 students who claimed to have voted in
For a random sample of 125 British entrepreneurs, the mean number of job changes was 1.91 and the sample standard deviation was 1.32. For an independent random sample of 86 British corporate
A screening procedure was designed to measure attitudes toward minorities as managers. High scores indicate negative attitudes and low scores indicate positive attitudes. Independent random samples
You have been asked to determine if two different production processes have different mean numbers of units produced per hour. Process 1 has a mean defined as m1 and process 2 has a mean defined as
You have been asked to determine if two different production processes have different mean numbers of units produced per hour. Process 1 has a mean defined as m1 and process 2 has a mean defined as
An agency in Belgium offers preparation courses for a graduate school admissions test to students. As part of an experiment to evaluate the merits of the course, 40 students were chosen and divided
You have been asked to conduct a national study of urban home selling prices to determine if there has been an increase in selling prices over time. There has been some concern that housing prices in
In a study comparing banks in two countries, a sample of 148 matched pairs of banks was formed. Each pair contained one bank from the Netherlands and one from Croatia. The pairings were made in such
You have been asked to determine if two different production processes have different mean numbers of units produced per hour. Process 1 has a mean defined as m1 and process 2 has a mean defined as
You have been asked to determine if two different production processes have different mean numbers of units produced per hour. Process 1 has a mean defined as m1 and process 2 has a mean defined as
The ICU data file contains information from a study conducted on adult patients that were admitted to the Intensive Care Unit (ICU) of a hospital.Variable descriptions are located in the chapter
The ICU data file contains information of a study made with adult patients that were admitted to the Intensive Care Unit (ICU) of a hospital.Variable descriptions are located in the chapter appendix.
The ICU data file contains information of a study made with adult patients that were admitted in the Intensive Care Unit (ICU) of a hospital.Variable descriptions are located in the chapter
Use the ICU data file and test if individuals aged up to 40 years old are likely to suffer from complications due to high SBP. What can you conclude about individuals older than 40? Variable
The ICU data file contains information of a study made with adult patients that were alive when admitted in the Intensive Care Unit (ICU) of a hospital. Variable descriptions are located in the
The 2021 World Happiness Report provides the change in scores in 2020 compared to the average relevant scores from 2017 to 2019 for nations in ten regions across the world. Using the data file
A study at the hospital in Finland concluded that the percentage of patients admitted with a bone fracture was less than 15%. State whether the conclusions of the study are still valid. You are then
A police officer is analyzing the crime index of a town in a region. He claims that the town has an average crime index of 45.25 with the population standard deviation being no more than 10. A random
When operating normally, a manufacturing process produces sheets of paper for which the mean weight of the active ingredient is 5 grams, and the standard deviation is 0.025 gram. For a random sample
A process produces cable for the local telephone company.When the process is operating correctly, cable diameter follows a normal distribution with mean 1.8 inches and standard deviation 0.03 inch. A
You have accepted a job in Taiwan and want optimize your commuting costs and rental costs. You are in the process of finalizing an apartment.You are informed that a house in Taiwan is considered
As per the World Happiness Report, the worldwide average happiness score for 2020 is 5.53.Since the first report in 2012, Western European countries have scored above the overall average, unlike the
The World Happiness Report is an annual UN Sustainable Development Solutions Network publication. The first of this was published in 2011, in line with the Bhutanese Resolution passed by the UN
Lantmännen Cerealia, Stockholm, has asked you to study the variability of the weights of cereal bags produced in plant 2, located in Norway. The package weights are known to be normally distributed.
Din Tai Fung, Taiwan, specializes in xiaolongbao(steamed dumplings) and Chinese cuisine. It has a number of clients that use their process for producing exotic Huaiyang dinners for customers in the
Of a random sample of 220 parcels, 50 parcels have been delivered after the estimated delivery time. Find the lowest level of significance for testing the null hypothesis that at most 25% of all
From a random sample of 80 employees, 30 employees are enrolled in an external training program. Test at the 5% level the null hypothesis that at most 20%of the employees are enrolled in the external
In a random sample of 110 applicants for an editorial job, 58 applicants fulfilled the job requirements.Find the lowest level of significance for testing the null hypothesis that the half of the
A survey was conducted to determine the most popular shopping websites by selecting a random sample of 200 online shoppers from a population of 800 shoppers.The people taking the survey were asked
In a random sample of 545 accountants engaged in preparing county operating budgets for use in planning and control, 117 indicated that estimates of cash flow were the most difficult element of the
Supporters claim that a new windmill can generate an average of at least 800 kilowatts of power per day.Daily power generation for the windmill is assumed to be normally distributed with a standard
A financial analyst is investigating the return rate of mutual funds. He claims that mutual funds have a return rate of 0.10 per annum with a population standard deviation of no more than 0.13. A
State whether each of the following is true or false.a. A statement made regarding the entire population for a testing purpose is called the test statistic.b. A hypothesis that defines a single value
A random sample of 10 savings accounts was selected from DirectMe Bank in Brussels, Belgium. The daily minimum transaction amount (in €) for each account was recorded below:1,400 690 1,950 740 920
Carefully explain what is meant by the p-value of a test, and discuss the use of this concept in hypothesis testing.
Based on your understanding of each of the following pairs of terms, provide an example to differentiate them.a. Null and alternative hypothesesb. Simple and composite hypothesesc. One-sided and
An instructor has decided to introduce a greater component of independent study into an intermediate microeconomics course as a way of motivating students to work independently and think more

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