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business
theory of statistics

Questions and Answers of Theory of Statistics

what is statistics for business?
Refer to the CIA data, which report demographic and economic information on 46 countries.a. Develop a contingency table that shows G-20 membership versus level of petroleum activity. Is there a
Refer to the Wage data, which report information on annual wages for a sample of 100 workers. Also included are variables relating to industry, years of education, and gender for each worker. Develop
Refer to the Real Estate data, which report information on homes sold in the Denver, Colorado, area last year.a. Develop a contingency table that shows whether a home has a pool and the township in
Refer to the Baseball 2006 data, which report information on the 30 Major League Baseball teams for the 2006 season. Set up a variable that divides the teams into two groups, those that had a winning
As described in earlier chapters, many real estate companies and rental agencies now publish their listings on the World Wide Web.One example is Dunes Realty Company located in Garden City, South
Did you ever purchase a bag of M&M’s candies and wonder about the distribution of colors? You can go to the website www.baking.mms.com and click the United States on the map, then click About
A sample of employees at a large chemical plant was asked to indicate a preference for one of three pension plans. The results are given in the following table. Does it seem that there is a
The claims department at Wise Insurance Company believes that younger drivers have more accidents and, therefore, should be charged higher insurance rates. Investigating a sample of 1,200 Wise
A study regarding the relationship between age and the amount of stress sales personnel feel in relation to their jobs revealed the following sample information. At the .01 significance level, is
A survey by USA Today investigated the public’s attitude toward the federal deficit. Each sampled citizen was classified as to whether they felt the government should reduce the deficit, increase
In 2005, John G. Roberts was nominated by President Bush and confirmed by the Senate to be the 17th U.S. Supreme Court Chief Justice. During the nomination process, John G. Roberts’s career as a
In the early 2000s, Deep Down Mining Company implemented new safety guidelines. Prior to these new guidelines, management expected there to be no accidents in 40 percent of the months, one accident
Banner Mattress and Furniture Company wishes to study the number of credit applications received per day for the last 300 days.The information is reported on the next page.To interpret, there were 50
The owner of a mail-order catalog would like to compare her sales with the geographic distribution of the population. According to the United States Bureau of the Census, 21 percent of the population
There are four entrances to the Government Center Building in downtown Philadelphia. The building maintenance supervisor would like to know if the entrances are equally utilized. To investigate, 400
In a particular television market there are three commercial stations, each with its own evening news program from 6:00 to 6:30 p.m.According to a report in this morning’s local newspaper, a random
The publisher of a sports magazine plans to offer new subscribers one of three gifts: a sweatshirt with the logo of their favorite team, a coffee cup with the logo of their favorite team, or a pair
Vehicles heading west on Front Street may turn right, left, or go straight ahead at Elm Street. The city traffic engineer believes that half of the vehicles will continue straight through the
The use of cellular phones in automobiles has increased dramatically in the last few years. Of concern to traffic experts, as well as manufacturers of cellular phones, is the effect on accident
The quality control department at Food Town, Inc., a grocery chain in upstate New York, conducts a monthly check on the comparison of scanned prices to posted prices. The chart below summarizes the
Four brands of lightbulbs are being considered for use in the final assembly area of the Saturn plant in Spring Hill, Tennessee. The director of purchasing asked for samples of 100 from each
The director of advertising for the Carolina Sun Times, the largest newspaper in the Carolinas, is studying the relationship between the type of community in which a subscriber resides and the
A social scientist sampled 140 people and classified them according to income level and whether or not they played a state lottery in the last month. The sample information is reported below. Is it
The Federal Correction Agency is investigating the last question cited above: Does a male released from federal prison make a different adjustment to civilian life if he returns to his hometown or if
For many years TV executives used the guideline that 30 percent of the audience were watching each of the traditional big three primetime networks and 10 percent were watching cable stations on a
The bank credit card department of Carolina Bank knows from experience that 5 percent of its card holders have had some high school, 15 percent have completed high school, 25 percent have had some
The chief of security for Mall of the Dakotas was directed to study the problem of missing goods. He selected a sample of 100 boxes that had been tampered with and ascertained that, for 60 of the
The following hypotheses are given:H0: Forty percent of the observations are in category A, 40 percent are in B, and 20 percent are in C.H1: The distribution of the observations is not as described
The American Accounting Association classifies accounts receivable as“current,” “late,” and “not collectible.” Industry figures show that 60 percent of accounts receivable are current, 30
The American Hospital Administrators Association (AHAA)reports the following information concerning the number of times senior citizens are admitted to a hospital during a one-year period. Forty
The safety director of Honda USA took samples at random from company records of minor work-related accidents and classified them according to the time the accident took place.Using the
A group of department store buyers viewed a new line of dresses and gave their opinions of them. The results were:Because the largest number (47) indicated the new line is outstanding, the head
Classic Golf, Inc., manages five courses in the Jacksonville, Florida, area. The director wishes to study the number of rounds of golf played per weekday at the five courses. He gathered the
A six-sided die is rolled 30 times and the numbers 1 through 6 appear as shown in the following frequency distribution. At the .10 significance level, can we conclude that the die is fair? 397
The null hypothesis and the alternate are:H0: The frequencies are equal.H1: The frequencies are not equala. State the decision rule, using the .05 significance level.b. Compute the value of
The null hypothesis and the alternate are:H0: The frequencies are equal.H1: The frequencies are not equala. State the decision rule, using the .05 significance level.b. Compute the value of
In a particular chi-square goodness-of-fit test there are six categories and 500 observations. Use the .01 significance level.a. How many degrees of freedom are there?b. What is the critical value of
In a particular chi-square goodness-of-fit test there are four categories and 200 observations. Use the .05 significance level.a. How many degrees of freedom are there?b. What is the critical value
The human resources director at Georgetown Paper, Inc., is concerned about absenteeism among hourly workers. She decides to sample the company records to determine whether absenteeism is distributed
Ms. Jan Kilpatrick is the marketing manager for a manufacturer of sports cards. She plans to begin selling a series of cards with pictures and playing statistics of former Major League Baseball
List the characteristics of the chi-square distribution.
Refer to the CIA data, which report demographic and economic information on 46 countries. Let unemployment be the dependent variable and percent of the population over 65, life expectancy, and
Refer to the Wage data, which report information on annual wages for a sample of 100 workers. Also included are variables relating to industry, years of education, and gender for each worker.
Refer to the Baseball 2006 data, which report information on the 30 Major League Baseball teams for the 2006 season. Let the number of games won be the dependent variable and the following variables
Refer to the Real Estate data, which report information on homes sold in the Denver, Colorado, area during the last year. Use the selling price of the home as the dependent variable and determine the
As described in the exercises in Chapters 12 and 13, many real estate companies and rental agencies now publish their listings on the Web. One example is Dunes Realty Company, located in Garden City
The National Institute of Standards and Technology provides several data sets to allow any user to test the accuracy of its statistical software. Go to the website:
The director of special events for Sun City believed that the amount of money spent on fireworks displays on the 4th of July was predictive of attendance at the Fall Festival held in October. She
The president of Blitz Sales Enterprises sells kitchen products through television commercials, often called infomercials. He gathered data from the last 15 weeks of sales to determine the
The Conch Café, located in Gulf Shores, Alabama, features casual lunches with a great view of the Gulf of Mexico. To accommodate the increase in business during the summer vacation season, Fuzzy
An investment advisor is studying the relationship between a common stock’s price to earnings (P/E) ratio and factors that she thinks would influence it. She has the following data on the earnings
A mortgage department of a large bank is studying its recent loans.Of particular interest is how such factors as the value of the home (in thousands of dollars), education level of the head of the
How important is GPA in determining the starting salary of recent business school graduates? Does graduating from a business school increase the starting salary? The director of undergraduate studies
The Times-Observer is a daily newspaper in Metro City. Like many city newspapers, the Times-Observer is suffering through difficult financial times. The circulation manager is studying other papers
Great Plains Roofing and Siding Company, Inc., sells roofing and siding products to home repair retailers, such as Lowe’s and Home Depot, and commercial contractors. The owner is interested in
Fran’s Convenience Marts are located throughout metropolitan Erie, Pennsylvania. Fran, the owner, would like to expand into other communities in northwestern Pennsylvania and southwestern New York,
The district sales manager for a major automobile manufacturer is studying car sales. Specifically, he would like to determine what factors affect the number of cars sold at a dealership. To
Mike Wilde is president of the teachers’ union for Otsego School District. In preparing for upcoming negotiations, he would like to investigate the salary structure of classroom teachers in the
The administrator of a new paralegal program at Seagate Technical College wants to estimate the grade point average in the new program. He thought that high school GPA, the verbal score on the
Suppose that the sales manager of a large automotive parts distributor wants to estimate as early as April the total annual sales of a region. On the basis of regional sales, the total sales for the
The district manager of Jasons, a large discount electronics chain, is investigating why certain stores in her region are performing better than others. She believes that three factors are related to
In a multiple regression equation k = 5 and n the MSE value is 5.10, and SS total is 519.68. At the .05 significance level, can we conclude that any of the regression coefficients are not equal to 0?
The following output was obtained.a. What is the sample size?b. Compute the value of R2.c. Compute the multiple standard error of estimate.d. Conduct a global test of hypothesis to determine whether
In a multiple regression equation two independent variables are considered, and the sample size is 25. The regression coefficients and the standard errors are as follows.Conduct a test of hypothesis
A multiple regression equation yields the following partial results.a. What is the total sample size?b. How many independent variables are being considered?c. Compute the coefficient of
A study by the American Realtors Association investigated the relationship between the commissions earned by sales associates last year and the number of months since the associates earned their real
Refer to the data in Table 14–1, which relates the heating cost to the independent variables outside temperature, amount of insulation, and age of furnace. Develop a correlation matrix for all the
Given the following regression output,answer the following questions:a. Write the regression equation.b. If X1 is 4 and X2 is 11, what is the value of the dependent variable?c. How large is the
The regression output about eating places in Myrtle Beach is repeated below (see earlier self-reviews).(a) Perform a global test of hypothesis to check if any of the regression coefficients are
Consider the ANOVA table that follows.a. Determine the standard error of estimate. About 95 percent of the residuals will be between what two values?b. Determine the coefficient of multiple
Consider the ANOVA table that follows.a. Determine the standard error of estimate. About 95 percent of the residuals will be between what two values?b. Determine the coefficient of multiple
Refer to Self-Review 14–1 on the subject of restaurants in Myrtle Beach. The ANOVA portion of the regression output is presented below.(a) How large was the sample?(b) How many independent
4. Cellulon, a manufacturer of home insulation, wants to develop guidelines for builders and consumers on how the thickness of the insulation in the attic of a home and the outdoor temperature affect
A sample of General Mills employees was studied to determine their degree of satisfaction with their present life. A special index, called the index of satisfaction, was used to measure satisfaction.
Thompson Photo Works purchased several new, highly sophisticated processing machines. The production department needed some guidance with respect to qualifications needed by an operator. Is age a
The director of marketing at Reeves Wholesale Products is studying monthly sales. Three independent variables were selected as estimators of sales: regional population, per capita income, and
There are many restaurants in northeastern South Carolina. They serve beach vacationers in the summer, golfers in the fall and spring, and snowbirds in the winter. Bill and Joyce Tuneall manage
Salsberry Realty sells homes along the east coast of the United States. One of the questions most frequently asked by prospective buyers is: If we purchase this home, how much can we expect to pay to
Describe the relationship between several independent variables and a dependent variable using multiple regression analysis.
Refer to the CIA data, which report demographic and economic information on 46 countries.a. You wish to use the labor force variable as the independent variable to predict the unemployment rate.
Refer to the Wage data, which report information on annual wages for a sample of 100 workers. Also included are variables relating to industry, years of education, and gender for each worker.a.
Refer to the Baseball 2006 data, which report information on the 2006 Major League Baseball season.a. Let the games won be the dependent variable and total team salary, in millions of dollars, be the
Refer to the Real Estate data, which report information on homes sold in Denver, Colorado, last year.a. Let selling price be the dependent variable and size of the home the independent variable.
Many real estate companies and rental agencies now publish their listings on the Web. One example is Dunes Realty Company, located in Garden City and Surfside Beaches in South Carolina. Go to the
Suppose you want to study the association between the literacy rate in a country, the population, and the country’s Gross Domestic Product (GDP). Go to the website of Information Please
Listed below are the movies with the largest world box office sales and their budget (total amount available to spend making the picture).Find the correlation between the world box office budget and
Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in
A dog trainer is exploring the relationship between the size of the dog (weight in pounds) and its daily food consumption (measured in standard cups). Below is the result of a sample of 18
A consumer buying cooperative tested the effective heating area of 20 different electric space heaters with different wattages. Here are the results.a. Compute the correlation between the wattage and
The following data show the retail price for 12 randomly selected laptop computers along with their corresponding processor speeds in gigahertz.a. Develop a linear equation that can be used to
The following table shows the mean annual percent return on capital (profitability) and the mean annual percentage sales growth for eight aerospace and defense companiesa. Compute the coefficient of
A regression analysis relating the current market value in dollars to the size in square feet of homes in Greene County, Tennesse follows.The regression equation is: Value = -37,186 + 65.0 Size.a.
PDOT (Pennsylvania Department of Transportation) performed an analysis on the relationship between the number of construction work-zone fatalities and the number of unemployed people in a state.The
Below is information on the price per share and the dividend for a sample of 30 companies. The sample data are available on the data disk supplied with the text.a. Calculate the regression equation
Super Markets, Inc., is considering expanding into the Scottsdale, Arizona, area. You as director of planning, must present an analysis of the proposed expansion to the operating committee of the
The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning(lowest) bid for the project. Of particular interest is whether the
An ANOVA table is:a. Complete the ANOVA table.b. How large was the sample?c. Determine the standard error of estimate.d. Determine the coefficient of determination. SOURCE Regression Error Total DF
Following is a regression equation.Ŷ = 17.08 + 0.16X This information is also available: Sy.x = 4.05, and n = 5.a. Estimate the value of Ŷ when X = 50.b. Develop a 95 percent prediction interval
The following regression equation was computed from a sample of 20 observations:SSE was found to be 100 and SS total 400.a. Determine the standard error of estimate.b. Determine the coefficient of

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