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business
statistics for business and economics

Questions and Answers of Statistics For Business And Economics

Real estate valuation. Refer to the real estate data set of Taiwan, Exercise 12.18 (p. 728). You fit the first-order model, E1y2 = b0 + b1x1 + b2x2 + b3 x3, to the data, where y = the house price per
Reality TV and cosmetic surgery. Refer to the Body Image: An International Journal of Research (March 2010) study of the impact of reality TV shows on one’s desire to undergo cosmetic surgery,
User experience professionals salary survey. The User Experience Professionals Association (UXPA) supports people who research, design, and evaluate the user experience of products and services. The
Characteristics of lead users. Refer to the Creativity and Innovation Management (February 2008) study of lead users of children’s computer games, Exercise 12.12 (p. 726). Recall that the
Cost analysis for a shipping department. Multiple regression is used by accountants in cost analysis to shed light on the factors that cause costs to be incurred and the magnitudes of their effects.
Independent Variables Beta Estimate Standard Error x1 = Vintage year .03 .006 x2 = Average growing season temperature1°C2 .60 .120 x3 = Sept./Aug. rainfall 1cm2 -.004 .001 x4 = Rainfall in months
R2 and model fit. Because the coefficient of determination R2 always increases when a new independent variable is added to the model, it is tempting to include many variables in a model to force R2
Bubble behavior in subcooled flow boiling. In industry cooling applications (e.g., cooling of nuclear reactors), a process called subcooled flow boiling is often employed. Subcooled flow boiling is
Household energy expenditure. Refer to the annual total household expenditure on energy from 2011 to 2020, Exercise 11.29 (p. 661). The annual total household expenditure (in £ millions) data on
Workplace envy and job performance. Employees who are envious of their fellow workers often exhibit a decline in job performance. Research published in the Academy of Management Journal (August 2019)
Real estate valuation. A historical market data set of real estate valuations was collected from Sindian District, New Taipei City, Taiwan, and saved in a file. The data consists of the age (in
Reality TV and cosmetic surgery. How much influence does the media have on one’s decision to undergo cosmetic surgery? This was the question of interest in Body Image: An International Journal of
Arsenic in groundwater. Environmental Science & Technology (January 2005) reported on a study of the reliability of a commercial kit to test for arsenic in groundwater. The field kit was used to
Sustainable cuisine at restaurants. More and more restaurants are now serving sustainable cuisine (i.e., meals prepared with minimal environmental impact). What are the factors that motivate this
Forest fire prediction and detection. A data set of 122 instances of forest fires from two regions of Algeria was collected from the Microelectronic & Nanotechnology Division, Center for Development
Predicting elements in aluminum alloys. Aluminum scraps that are recycled into alloys are classified into three categories: soft-drink cans, pots and pans, and automobile crank chambers. A study of
Characteristics of lead users. “Lead users” describe creative individuals who are on the leading edge of an important market trend. Creativity and Innovation Management (February 2008) published
Ambiance of 5-star hotels. Although invisible and intangible, ambient conditions such as air quality (x1), temperature (x2), odor/aroma (x3), music (x4), noise level (x5), and overall image (x6) may
Forecasting movie revenues with Twitter. Refer to the IEEE International Conference on Web Intelligence and Intelligent Agent Technology (2010) study on using the volume of chatter on Twitter.com to
Level of online sales. A study published in IOP Conf. Series: Earth and Environmental Science (Vol. 425, 2020) aimed to identify the marketing mix that influences the level of online sales (y) of
If the analysis of variance F-test leads to the conclusion that at least one of the model parameters is nonzero, can you conclude that the model is the best predictor for the dependent variable y?
Suppose you fit the first-order model y = b0 + b1x1 + b2x2 + b3x3 + b4x4 + b5x5 + e to n = 30 data points and obtain SSE = .33 R2 = .92a. Do the values of SSE and R2 suggest that the model provides a
Consider the first-order model equation in three quantitative independent variables E1y2 = 2 - 3x1 + 5x2 - x3a. Graph the relationship between y and x3 for x1 = 2 and x2 = 1.b. Repeat part a for x1
How is the number of degrees of freedom available for estimating s2 (the variance ofe) related to the number of independent variables in a regression model?
Suppose you fit the first-order multiple regression model y = b0 + b1x1 + b2x2 + e to n = 25 data points and obtain the prediction equation yn = 6.4 + 3.1x1 + .92x2 The estimated standard deviations
Suppose you fit the multiple regression model y = b0 + b1x1 + b2x2 + b3x3 + e to n = 30 data points and obtain the following result: yn = 3.4 - 4.6x1 + 2.7x2 + .93x3 The estimated standard errors of
StatCrunch was used to fit the model E1y2 = b0 + b1x1 + b2x2 to n = 20 data points, and the printout shown below was obtained.a. What are the sample estimates of b0, b1, and b2?b. What is the least
Write a first-order model relating E1y2 toa. two quantitative independent variables.b. four quantitative independent variables.c. five quantitative independent variables.
What is a control chart? Describe its use. UCL
Which process parameter is an i-chart used to monitor?
Even if all the points on an i-chart Pall between the control limits, the process may be out of control.- Exnlain. -1 5 10 15 20 25
What must be true about the variation of a process before an i-chart is used to monitor the mean of the Sample number process? Why?
Is the process for which the i-chart at right was constructcd affected by only special causes of variation, only common causes of variation, or both? Explain.
Use Table XV in Appendix B to find the value of A, for each of the following sample sizes.a.n=3 b.n=10c. n=22
Twenty-five samples of size n = 5 were collected to construct an i-chart. The accompanying sample means and ranges were calculated for thcse data.a. Calculate the mean of the sample means, x, and the
In their text, Q~~antitative Analysis of Management(1997), B. Render (Rollins College) and R. M. Stair(Florida State University), present the case of the Bayfield Mud Company. Bayfield supplies
University of Waterloo (Canada) statistician S.H.Stciner applied control chart methodology to the manufacturing of a horseshoe-shaped metal fastener called a robotics clamp (Applied Statistics, Vol.
In practice, i- and R-charts are used together to monitor a process. However, the R-chart should be interpreted before the F-chart. Why?
Use Table XV in Appendix B to find the values of 4 and D, for each of the following sample sizes.a.n=4 b.n=12 c.n=24
Construct and interpret an R-chart for the data in Exercise 11.10(p. 667).a. Calculate and plot the upper control limit and, if appropriate, the lower control limit.b. Calculate and plot the A, B,
to determine whether the process is under statistical control.
Construct and interpret an R-chart for the data in Exercise 11.21(p. 668).a. Calculate and plot the upper control limit and, if appropriate, the lower control limit.b. Calculate and plot the A, B,
Construct and interpret an R-chart and an x-chart from the sample data shown below. Remember to interpret the R-chart before the ?-chart.Applying the Concepts
Refer to Exercise 11.12(p. 668), where the desired circuit path widths were .5 to .85 micron. The manufacturer sampled four CPU chips six times a day (every 90 minutes from 8:00 A.M. until 4:30 P.M.)
A soft-drink bottling company is interested in monitoring the amount of cola injected into 16-ounce bottles by a particular filling head.The process is entirely automated and operates 24 hours a day.
In an effort to reduce customer dissatisfaction with delays in replacing lost automated teller machine(ATM) cards, some retail banks monitor the time required to replace a lost ATM card. Called
The Journal of Quality Technology (July 1998) published an article examining the effects of the precision of measurement on the R-chart.The authors presented data from a British nutrition company
Refer to Exercise 11.15(p. 671), in which the Bayfield Mud Company was concerned with discovering why their filling operation was producing underfilled bags of mud.a. Construct an R-chart for the
Refer to Exercise 12.16(p. 712). in which a robotics clamp manufacturer was concerned about gap width.a. Construct an R-chart for the gap width.b. Which parameter of the manufacturing process does
To construct a p-chart for a manufacturing process, 25 samples of size 200 were drawn from the process. The number of defectives in each sample is listed belowa. Calculate the proportion defective in
In each of the following cases, use the sample size formula to determine a sample size large enough to avoid constructing a p-chart with a negative lower control limit.a. p,= .Olb. po= .05c. po =
A manufacturer produces micron chips for personal computers. From past experience the production manager believes that 1 % of the chips are defective. The company collected a sample of the first
Accurate typesetting is crucial to the production of high-quality newspapers. The editor of the Morristown Daily Tribune, a weekly publication with circulation of 27,000, has instituted a process for
What is a process? Give an example of an organizational process and a personal process.
Select a personal process that you would like to better understand or to improve and construct a flowchart for it.11-43 Describe the six major sources of process variation.
Suppose all the output of a process over the last year were measured and found to be within the specifics-tion limits required by customers of the process.Should you worry about whether the process
Explain the role of the control limits of a control chart.
A process is under control and follows a normal distribution with mean 100 and standard deviation 10.In constructing a standard T-chart for this process, the control limits are set 3 standard
The accompanying length measurements were made on 20 consecutively produced pencils.a. Construct a time series plot. Be sure to connect the plotted points and add a centerline.b. Which type of
Use the appropriate pattern-analysis rules to determine whether the process being monitored by the control chart shown on page 696 is under the influence of special causes of variation.
A hospital has used control charts continuously since 1978 to monltor the quality of its nursing care. A set of 363 scoring criteria, or standards, are applied at critical points in the patients'
AirExpress, an overnight mail service, is concerned about the operating efficiency of the package-sorting departments at its Toledo, Ohio, terminal.The company would like to monitor the time it takes
Over the last year, a company that manufactures golf clubs has received numerous complaints about thc performance of its graphite shafts and has lost several market share percentage points. In
A company called CRW runs credit checks for a large number of banks and insurance companies.Credit history information is typed into computer files by trained administrative assistants. The company
In order to compare the means of two populations, independent random samples of 400 observations are selected from each population, with the following results:Sample 1 Sample 2a. Use a 95% confidence
Two populations are described in each of the following cases. In which cases would it be appropriate to apply the small-sample t-test to investigate the difference between the population means?a.
Assume that a: = a; = u2. Calculate the pooled estimator of a2 for each of the following cases:a. s: = 120, s; = 100, n, = n2 = 25b. s: = 12, s; = 20, n1 = 20, n, = 10c. s: = .15, s; = .20, n, = 6,
Independent random samples from normal populations produced the results shown here.Sample 1 Sample 2 3.1 2.7 1.7 3.6 2.8 3.9 3.0a. Calculate the pooled estimate of a2.b. Do the data provide
Two independent random samples have been selected.100 observations from population 1 and 100 from population 2. Sample means T, = 15.5 and ?, = 26.6 were obtained. From previous experience with these
Independent random samples are selected from two populations and used to test the hypothesis H,,: (p, - p2) = 0 against the alternative H,: (p, - pZ) f 0. A total of 233 observations from population
Independent random samples from approximately normal populations produced the results shown below:a. Do the data provide sufficient evidence to conclude that (p2 - p,) > lo? Test using a = .01.b.
Independent random samples selected from two normal populations produced the sample means and standard deviations shown below:Sample 1 Sample 2a. The test H,,: (p, - p2) = 0 against Ha: (p, - p2) f 0
Many psychologists believe that knowledge of a college student's relationships with his or her parents can be useful in predicting the student's future interpersonal relationships both on the job and
Ingratiation is defined as a class of strategic behaviors designed to make others believe in the attractiveness of one's personal qualities. In organizational settings, individuals use such behaviors
Some college professors make bound lecture notes available to their classes in an effort to improve teachinp effectiveness. Marketing Educational Review (Fall 1994)published a study of business
Marketing strategists would like to predict consumer response to new products and their accompanying promotional schemes. Consequently, studies that examine the differences between buyers and
Valparaiso University professors D. L. Schroeder and K. E. Reichardt conducted a salary survey of members of the Institute of Management Accountants (IMA)and reported the results in Management
A recent rash of retirements from the U.S. Senate@ SOLWASTE.DAT prompted Middlebury College researchers J. E.Trickett and P. M. Sommers to study the ages and lengths of service of members of Congress
Many American industries have adopted a participative management style utilizing self-managed work teams(SMWTs). SMWTs require that employees be trained in interpersonal skills such as listening,
In the United States, high job turnover rates are common in many industries and are associated with high product defect rates. High turnover rates mean more inexperienced workers who are unfamiliar
Helping smokers kick the habit is a big business in today's no-smoking environment. One of the more commonly used treatments according to an article in the Journal of Imagination, Cognition and
Suppose you manage a plant that purifies its liquid waste and discharges the water into a local river. An EPA inspector has collected water specimens of the discharge of your plant and also water
The data for a random sample of 10 paired observations are shown in the accompanying table.Pair Sample from Population 1 Sample from Population 2a. If you wish to test whether these data are
A paired difference experiment produced the following data:n, = 18 il = 92 x2 = 95.5 i, = -3.5 sk = 21a. Determine the values oft for which the null hypothesis, pl - p2 = 0, would be rejected in
A paired difference experiment yielded the data shown in the next table.a. Test H,,: p~ = 10 against Ha: p, # 10, where,uD = (pI - pZ). Use a = .05.b. Report the p-value for the test you conducted in
When searching for an item (e.g., a roadside traffic sign.a misplaced file, or a tumor in a mammogram), common sense dictates that you will not re-examine items previously rejected. However,
Lack of sleep costs companies about $1 8 billion a year in lost productivity, according to the National Sleep Foundation. Companies are waking up to the problem, however. Some even have quiet rooms
Refer to the Journal of Genetic Psychology (Mar. 1998)comparison of male and female college students' attitudes toward their fathers, Exercise 7.10(p. 357). In this exercise, data adapted from the
Twice a year The Wall Street Journal asks a panel of economists to forecast interest rates, inflation rates, growth in Gross Domestic Product, and other economic variables. The table (p. 372) reports
Facility layout and material flowpath design are major factors in the productivity analysis of automated manufacturing systems. Facility layout is concerned with the location arrangement of machines
A pupillometer is a device used to observe changes in pupil dilations as the eye is exposed to different visual stimuli. Since there is a direct correlation between the amount an individual's pupil
A study reported in the Journal o,f Psychology (Mar.1991) measures the change in female students' selfconcepts as they move from high school to co1lege.A sample of 133 Boston College first-year
Find the appropriate values of n, and n2 (assume n, = n2) needed to estimate (p, - p,) with:a. A bound on the error of estimation equal to 3.2 with 95% confidence. From prior experience it is known
Suppose you want to use a paired difference experiment to estimate the difference between two population means correct to within 1.8 with a 95%confidence interval. If prior information suggests that
Enough money has been budgeted to collect independent random samples of size n, = n, = 100 from populations 1 and 2 in ordcr to estimate (pl - p2). Prior information indicates thata, =a, = 10. Have
Refer to the EPA study of average bacteria counts in water specimens at two river locations, Exercise 7.20(p. 362). How many water specimens need to be sampled at each location in order for a 95%
Is housework hazardous to your health? A study in the Public Health Reports (July-Aug. 1992) compares the life expectancies of 25-year-old white women in the labor force to those who are housewives.
Rcfer to the Merck Research Labs experiment designed to evaluate the effect of a new drug using rats in a single-T swim maze, Exercise 7.33(p. 373). How many matched pairs of male and female rat pups
Use Tables VIII, IX, X, and XI of Appendix B to find each of the following F values:a. F,, where vl = 9 and v2 = 6b. Fnl where v, = 18 and v2 = 14c. F,,,, where v, = 11 and v2 = 4d. Fln where v, = 20
For each of the following cases, identify the rejection region that should be used to test H,,: a: = ui against Ha: a: f u:. Assume v, = 10 and v2 = 12.a.a= .20b. a= .loc. a = .05d. a = .02

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