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business
business statistics for contemporary
Questions and Answers of
Business Statistics For Contemporary
A random sample of 12 financial analysts was asked to predict the percentage increases in the prices of two common stocks over the next year. The results obtained are shown in the table. Use the sign
In January 2019, local organizations in Nigeria held several presidential debates before the general elections in February. Suppose after one debate related to the main presidential
How do customers first hear about a new product?A random sample of 200 users of a new product was surveyed to determine the answer to this question.Other demographic data such as age were also
An increasing number of public school districts are utilizing the iPad as a teaching tool. Suppose Calandlyceum, a high school in Amsterdam, recently distributed 47 iPads to the students and teachers
University administrators have collected the following information concerning student grade point average and the school of the student’s major.Determine if there is any association between GPA and
The Baby Walking data file contains information on 98 babies about several variables concerning their birth and first steps. One of the variables measured is the “first walk timeline”, coded as 1
A random sample of 50 children appearing for an IQ test was taken. The sample skewness in their IQ results was 0.73 and the sample kurtosis was 1.15. Test the null hypothesis that the IQ results
Australia’s traffic department was tracing the speed of different automobiles at one spot on the highway.They found that with a random sample of 125 automobiles, the skewness of the sample was 0.36
A random sample of 50 students was asked to estimate how much money they spent on textbooks in a year.The sample skewness of these amounts was found to be 0.47 and the sample kurtosis was 4.14. Test
In a specific book of 150 pages various typo errors are observed and recorded. The following table shows the number pages and the number of typo errors across the book with an average of 1.5. Test
The number of times a machine broke down each week was observed over a period of 100 weeks and recorded in the accompanying table. It was found that the average number of breakdowns per week over
In a blood donation camp, out of 168 donors, 57 are of blood type O; 77 are blood type A; 25 are blood type B;and 9 are blood type AB. The expected distribution in the entire population is 43% for
The cafeteria at the University of Barcelona, Spain, hired a group of analysts to determine the pizza best liked by students enrolled in the university.Two years ago a similar study was conducted,
The chef of Brew’d café is calculating the cost of baking a cake. He pays $2 for sugar, $1.30 for flour, $5.80 for butter, $3.20 for milk, and $10 for labor cost. The past records indicate that
Steven and his friends are playing a board game that involves rolling two dice. He is interested in the number of times a 6 is rolled. Based on each player’s records, he found that 52 rolls did not
TMaker is a Malaysian t-shirt printing and design company.Each month it receives orders for each size—10%for large, 55% for medium, and 35% for small. The company wants to compare the proportion of
Anna Sui is a fashion designer known for her innovative packaging and product designs like those for her fragrance collection. According to the brand, 65% of its customers prefer the design of Sui
Assume the 2018 enrollment records for Stockholm University showed that 55% of applicants were for the business program, 25% for the science program, 10%for the law program, and the rest for other
Campbell’s Soup Company is going to produce a new flavor for their soup product. They conducted a survey to ask users to vote on their favorite soup flavor. It found that 40% voted for creamy
A business manager wants to improve employee satisfaction in his company. He asked a random sample of 100 employees from four departments if they were satisfied with the working conditions of the
Health care cost is an increasingly important part of the U.S. economy. In this exercise you are to identify variables that are predictors for drug cost, either individually or in combination. Use
Health care cost is an increasingly important part of the U.S. economy. In this exercise you are to identify variables that are predictors for hospital cost, either individually or in combination.
Health care cost is an increasingly important part of the United States economy. In this exercise you are to identify variables that are predictors for the cost of physician and clinical services,
You have been asked to develop a model using multiple regression that predicts the retail sale of beef and veal combined using time series data. The data file Beef Veal Consumption contains a number
You have been asked to develop a model using multiple regression that predicts the retail sale of veal using time series data. The data file Beef Veal Consumption contains a number of variables
You have been asked to develop a model using multiple regression that predicts the retail sale of beef using time-series data. The data file Beef Veal Consumption contains a number of variables
Another way to look at the functioning of the labor market is by tracking unemployment. To investigate the inequalities in the Australian labor market, we distinguish among unemployment in
The OECD keeps track of the labor market developments of its member states. Its topics of interest include not only the total volume of the labor force but also its composition by age and
The administrator of a small city has asked you to identify variables that influence the mean market value of houses in small midwestern cities. You have obtained data from a number of small cities,
Jack Wong, a Tokyo investor, is considering plans to develop a primary steel plant in Japan.After reviewing the initial design proposal, he is concerned about the proposed mix of capital and labor.He
Another way to analyze the functioning of the labor market is by tracking unemployment. To investigate the inequalities in the Italian labor market, we distinguish among the unemployment statistics
The OECD keeps track of the labor market developments of its member states. Its topics of interest include not only the total volume of the labor force but also its composition by age and gender.
The data file Britain Sick Leave shows data from Great Britain on the days of sick leave per person (Y), unemployment rate 1X12, ratio of benefits to earnings 1X22, and the real wage rate 1X32.
Data providers want to investigate the time spent online(in hours) per day by an individual based on their age, gender, purpose (work, entertainment, information searching), and their relationship
The data file Japan Imports shows 35 quarterly observations from Japan on quantity of imports(y), ratio of import prices to domestic prices 1x12, and real gross national product 1x22. Estimate by
The data file German Income shows 22 annual observations from the Federal Republic of Germany on percentage change in wages and salaries (y), productivity growth 1x12, and the rate of inflation 1x22,
The data file Indonesia Revenue show 15 annual observations from Indonesia on total government tax revenues other than from oil (y), national income 1x12, and the value added by oil as a percentage
A doctor conducted a survey to define “healthy food items” based on the amount of sugar and fats contained in each item. From a sample of 25 items, the doctor collected the following
The following regression model shows the buying interest for a product, which based on the price of the product, the quality, and the lagged buying interest rate for feedback from 45 consumers.yn =
A financial analyst wants to estimate the monthly expenditure on food (£ 000) by a household based on the size of the household, monthly household income, number of monthly purchases, and number of
A research was conducted to determine the yearly death rate caused by road accidents in a country by two types of vehicles and the gross domestic product($ million). The following regression model
The following regression model was fitted to 28 observations:yn = 5 - 0.5x1t 10.11452- 0.04x2t 10.01202+ 2.725x3t 10.76612 R2 = 0.7329 where yn = operation efficiency (scale 0–10)x1 = wait times of
The following model was fitted to a call center’s operation efficiency (rating 1 to 10) on the advertising wait times of callers (in minutes), number of complaints, number of operators, and the
An autoregressive distributed lag model for a transaction duration of a stock observed by 30 observations is estimated as yn t = 2 + 2x1t 10.8432+ 1.5x2t 10.3942+ 0.2x3t 10.0962 0.08yt-1 10.0252 R2 =
The following regression model was fitted for an individual with a constant term and three explanatory variables, including the lagged yearly return yt-1 and two other variables, yearly interest
A heteroscedasticity test determines the test statistic value, x2 = 101.835, for 15 observations.a. State the consequences of heteroscedasticity.b. Define the null hypothesis and alternative for the
The estimation of weekly production cost in a factory is based on the quantity of weekly production and the ratio of the number of deluxe units over the total units produced. It provides R2 is 0.941
Park Jeong-Hoon owns a bread store in Itaewon, South Korea. He believes that the number of hot dog buns ordered by customers that visit his store has an interaction effect on the combination of the
The data file Inflation Euro Area shows quarterly observations on expected inflation one year ahead (Y) and realized inflation (X) in the Euro Area.a. Plot the time series, and estimate the model yt
A farmer’s yearly yield is based on the amount of rainfall received in a year and average temperature during the year. A series of observations over the past 15 years was obtained, and the model
The data file Thailand Consumption shows 29 annual observations on private consumption(Y) and disposable income (X) in Thailand. Fit the regression model log yt = b0 + b1log x1t + glog yt-1 + et and
The data file Money UK contains observations from the United Kingdom on the quantity of money in millions of pounds (Y); income, in millions of pounds 1X12; and the local authority interest rate
To study the pass rates of students based on the number classes missed by students and the number of cocurricular activities students enroll for, a random sample was selected from the past 40 long
Based on the results in Exercise 13.32, answer the following questions in which a lagged dependent variable is added to the above model.a. Write the model in which a lagged dependent variable is
In Chapter 11, the regression of retail sales per household on disposable income per household was estimated by least squares. The data are given in Table 11.1, and Table 11.2 shows the residuals and
Based on data from 63 counties, the following model was estimated by least squares:yn = 0.58 - 0.052x1 10.0192- 0.005x2 10.0422 R2 = 0.17 where yn = growth rate in real gross domestic product x1 =
An economist estimates the following regression model:y = b0 + b1x1 + b2x2 + e The estimates of the parameters b1 and b2 are not very large compared with their respective standard errors.But the size
An economist estimates the following regression model:y = b0 + b1x1 + b2x2 + e She suspects the presence of multicollinearity. State the reasons for the presence of multicollinearity in the
Use the data in the file Citydatr to estimate a regression equation that can be used to determine the marginal effect of the percent commercial property on the market value per owner-occupied
Transportation Research, Inc., has asked you to prepare some multiple regression equations to estimate the effect of variables on fuel economy. The data for this study are contained in the data file
Suppose that a population model of a simple linear regression is given by the following:y = b0 + b1x + u In getting an unbiased estimate of b1 for the above model, we are assuming E1u ƒ x2 = 0. When
Suppose that the true linear model for a process was Y = b0 + b1X1 + b2X2 + b3X3 and you incorrectly estimated the model Y = a0 + a1X2 Interpret and contrast the coefficients for X2 in the two
The data file Thailand Consumption shows 29 annual observations on private consumption(Y) and disposable income (X) in Thailand. Fit the regression model log yt = b0 + b1log x1t + glog yt-1 + et and
The data file Inflation Euro Area shows quarterly observations on expected inflation one year ahead (Y) and realized inflation (X) in the Euro area. Estimate the model yt = b0 + b1xt + b2yt-1 + et,
The data file Pension Funds contains data on the market return (X) of stocks and the percentage (Y)of portfolios in common stocks at market value at the end of the year for private pension funds.
The data file Money UK contains observations from the United Kingdom on the quantity of money in millions of pounds 1Y2; income, in millions of pounds 1X12; and the local authority interest rate
A market researcher is interested in the average amount of money spent per year by college students on clothing.From 25 years of annual data, the following estimated regression was obtained through
You have been asked to serve as a consultant and expert witness for a wage-discrimination lawsuit. A group of Latino and black women have filed the suit against their company, Amalgamated
Custom Woodworking, Inc., has been in business for 40 years. The company produces high-quality custommade wooden furniture and very high quality interior cabinet and interior woodwork for expensive
Maxine Makitright, president of Good Parts, Ltd., has asked you to develop a model that predicts the number of defective parts per 8-hour work shift in her factory.She believes that there are
You have been asked to develop a multiple regression model to predict per capita sales of cold cereal in cities with populations over 100,000. As a first step you hold a meeting with the key
John Ramapujan is the plant manager for Kitchen Products, Inc. He has asked you to help identify worker factors that influence productivity.In particular, he is interested in gender differences, the
Sharon Parsons, president of Gourmet Box Mini Pizza, has asked for your assistance in developing a model that predicts the demand for the new snack lunch pizza named Pizza1. This product competes in
The Baltic Shipping Company, Denmark, is estimating the delivery time 1Y, in minutes2 for an order made to their company. The order needs to be shipped to Brofjorden 1X12, Norrköping 1X22, Stockholm
The head of the statistics department at the University of Iceland needs to know the students’ scores in a statistic module before and after 2015 on the basis of their gender (male and female) as
You are asked to develop a multiple regression model that indicates the relationship between a person’s behavioral characteristics and the daily cost of food (daily cost). The predictor variables
You are asked to develop a multiple regression model that indicates the relationship between a person’s physical characteristics and the daily cost of food (daily cost). The predictor variables to
You are asked to develop a multiple regression model that indicates the relationship between a person’s behavioral characteristics and the quality of diet consumed as measured by the Healthy Eating
You are asked to develop a multiple regression model that indicates the relationship between a person’s physical characteristics and the quality of diet consumed as measured by the Healthy Eating
You have been asked to develop a model that will predict the cost with financial aid for students at highly ranked private colleges. The data file Private Colleges contains data collected by a
You have been asked to develop a model that will predict the percentage of students who graduate in 4 years from highly ranked private colleges.The data file Private Colleges contains data collected
A group of activists in Peaceful, Montana, are seeking increased development for this pristine enclave, which has received some national recognition on the television program Four Dirty Old Men. The
A major real estate developer has asked you to determine the effect of the interval between house sales, and the initial house sales price on second or final sales price with adjustments for the four
Use the data in the data file named Student GPA, which is described in the Chapter 11 appendix, to develop a model to predict a student’s grade point average in economics. Begin with the variables
You have been hired as a consultant to analyze the salary structure of Energy Futures, Inc., a firm that produces designs for solar energy applications.The company has operated for a number of years,
The Center for Disease Control (CDC) is interested in knowing if there are state-level population characteristics that predict the occurrence of breast cancer death rates and the occurrence of lung
The United Nations’ World Happiness Report aims to demonstrate the role of variables other than income in shaping peoples’ happiness. A natural candidate for such an alternative predictor of
Casper Jensen, director of energy affairs at the Ministry of Economic Affairs, wants to know whether mindset or taxes is the better instrument to stimulate the adoption of renewable energy resources
An economist wishes to predict the market value of owner-occupied homes in small midwestern cities. He has collected a set of data from 45 small cities for a 2-year period and wants you to use this
A special topic in the 2021 World Happiness Report is an attempt to quantify the effects of COVID-19. This is done by estimating a prediction model for the number of COVID-19 deaths in 2020 per
The United Nations’ World Happiness Report aims to demonstrate the role of variables other than income in determining people’s happiness. There are several candidates to build a prediction
Use the data in the file Citydatr to estimate a regression equation that can be used to determine the marginal effect of the percent of commercial property on the market value per owner-occupied
The Economics Department wishes to develop a multiple regression model to predict student GPA for economics courses. Department faculty have collected data for 112 graduates, which include the
The following regression model was fitted to data on 60 U.S. female amateur golfers:yn = 164,683 + 341.10x1 + 170.02x2 + 495.19x3 - 4.23x4 1100.592 1167.182 1305.482 190.02-136,040x5 - 35,549x6 +
Based on data from 63 counties, the following model was estimated by least squares:yn = 0.58 - .052x1 - .005x2 R2 = .17 1.0192 1.0422 where yn = growth rate in real gross domestic product x1 = real
Based on data on 2,679 high school basketball players, the following model was fitted:y = b0 + b1x1 + b2x2 + g + b9x9 + e where y = minutes played in season x1 = field@goal percentage x2 = free@throw
Based on the 28 online purchase data, an attempt was made to explain number purchases made from an online store per hour. The model fitted was as follows:y = b0 + b1x1 + b2x2 + e where y = number of
A study was conducted to determine the factors that influencing consumer purchase intentions using 102 consumers’ feedback and obtained the following least squares model:yn = 9.958 + 4.495x1 +
A factory is estimating its yearly profit size based on several explanatory factors. Based on a sample of 55 observations, the following model was estimated by least squares:yn = 2074.838 + 29.335x1
The Programme for International Student Assessment(PISA) is the OECD’s testing tool employed for measuring the ability of 15-year-olds to use their reading, mathematics, and science knowledge and
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