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mathematics
statistics for management

Questions and Answers of Statistics for Management

It is well known that mathematicians do their best work before the age of 30. But, what happens to them as they grow older? A statistician took a random sample of mathematics professors who were
Because inflation reduces the purchasing power of the dollar, investors seek investments that will provide higher returns when inflation is higher. It is frequently stated that common stocks provide
The Jones Industrial Average was recorded monthly (close) from 1950 to 2016. Use a graph to describe these numbers.
The exchange rate of the Japanese Yen to one U.S. dollar was recorded monthly for the period 1971 to 2016. Draw a graph of these figures and interpret your findings.
The exchange rate of the Canadian dollar to one U.S. dollar was recorded monthly for the period 1971 to 2016. Draw a graph of these figures and interpret your findings.
The monthly value of U.S. exports to China (in $millions) and imports from China from 1985 to 2016 was recorded.a. Draw a line chart of U.S. exports to China.b. Draw a line chart of U.S. imports from
The monthly value of U.S. exports to Japan (in $millions) and imports from Japan from 1985 to 2016 was recorded.a. Draw a line chart of U.S. exports to Japan.b. Draw a line chart of U.S. imports from
The monthly value of U.S. exports to Canada (in $millions) and imports from Canada from 1985 to 2016 was recorded.a. Draw a line chart of U.S. exports to Canada.b. Draw a line chart of U.S. imports
The gross domestic product (GDP) is the sum total of the economic output of a country. It is an important measure of the wealth of a country. The GDP of the United States from 1935 to 2015 is stored
The average daily U.S. oil consumption and production (thousands of barrels) was recorded for the years 1973 to 2015. Draw a line chart for both sets of figures. Describe what you have learned.
Refer to Exercise 3.34.a. Draw a line chart of the violent crime rate per 100,000 of population.b. Draw a line chart of the property crime rate per 100,000 of population.c. Describe your findings.
Interest on Federal Debt from 1935 to 2015 was recorded.Draw the following line charts and briefly describe what the chart tells you about each variable.a. Original datab. Per capita datac. Per
Education spending from 1935 to 2015 was recorded.Draw the following line charts and briefly describe what the chart tells you about each variable.a. Original datab. Per capita datac. Per capita in
Welfare payments for 1965 to 2015 were recorded.Draw the following line charts and briefly describe what the chart tells you about each variable.a. Original datab. Per capita datac. Per capita in
Total Federal government spending from 1935 to 2015 is stored.Draw the following line charts and briefly describe what the chart tells you about each variable.a. Original datab. Per capita datac. Per
The defense budget for years 1935 to 2015 were recorded.Draw the following line charts and briefly describe what the chart tells you about each variable.a. Original datab. Per capita datac. Per
Social Insurance Old Age Survivor Insurance provides a pension for Americans who are over 60 years of age and whose spouse has died. Costs for 1958 to 2015 were recorded.Draw the following line
Social Security Disability Insurance a program that pays monthly benefits to individuals who have become disabled before reaching retirement age and aren’t able to work. SSDI costs were recorded
Medicaid is a program created by the federal government, but administered by the state, to provide payment for medical services for low-income citizens. The costs were recorded from 1962 to 2015.Draw
Medicare Part B pays for a portion of physicians’ visits, medical equipment, outpatient procedures, rehabilitative therapy, laboratory tests, X-rays, ambulance service, and blood. Costs were
The U.S. government provides Medicare to Americans who are 65 years and older. Medicare Part A pays the costs of hospital and nursing care, but not physicians’ bills. The file lists Medicare Part A
The United States spends more money on health care than any other country. To gauge how fast costs are rising we recorded the total health care costs since 1950.Draw the following line charts and
The number of violent crimes and the number of property crimes (burglary, larceny theft, and car theft) (in thousands) for the years 1993 to 2012 (latest figures available) are listed here. a.
It won€™t come as a surprise to hockey fans that with each passing season the number of goals scored is decreasing. Many experts blame goalie equipment. The oversized pads and other
Determine the number of classes of a histogram for 1500 observations.
How well have Canada and the United States performed at the Winter Olympics? In the table displayed here, we list the total number of medals won by the two countries in each year. Draw a chart to
Respondents were asked to report the total value of certificates of deposit (CDs) in 2013 dollars held by the household.a. Try drawing histograms with different numbers of class intervals and
One of the questions asked respondents to report the total value of assets held by the household in 2013 dollars. Note that the range is very large. The minimum is $0 and the maximum is
Create a histogram of the number of children. Despite the fact that the sample size is over 6,000, why should you not have 20 class intervals?
Draw a histogram of the ages of the respondents in the 2013 survey. What information can you extract from the histogram?
A survey of 50 baseball fans to report the number of games they attended last year. Draw a histogram and describe its shape.
The annual incomes for a sample of 200 first-year accountants were recorded. Draw a histogram and describe its shape.
Currently Ebay lists over 550,000 U.S. collector coins for sale or auction. An avid collector tracked the number of days it took for 500 coins to be sent to his home. Create a histogram of these
The number of customers entering a bank in the first hour of operation for each of the last 200 days was recorded. Draw a histogram and describe its shape.
Users of previous editions of this book could download an Excel add-in called Data Analysis Plus from our website. We recorded the number of daily downloads during a 78-day period.a. Draw a
Draw a histogram of the ages (AGE) of the respondents. What information do you draw from the histogram?
How educated were American adults in 2014? Draw a histogram to help provide a graphical answer (EDUC).
How well were Americans doing financially in 2014. Draw a histogram of respondents’ incomes (RINCOME). Describe the shape.
How much television were American adults watching in 2014 (TVHOURS)? Produce a histogram to help answer the question.
Among American adults with children draw a histogram of their ages when their first child was born (AGEKDBRN).
A survey of 60 individuals leaving a mall asked how many stores they entered during this visit to the mall. The figures are listed here. a. Draw a histogram to summarize these data. b.
The 17th hole at the TPC (Tournament Players Club) is an island green that causes even professional players to put their tee shots into the surrounding pond. A statistics practitioner kept track of
There are a number of minor-league baseball players who never make it to the major leagues. A statistics practitioner kept track of the age at which 32 players realized their dream of playing in the
An Uber driver kept track of the number of calls he received over a 28-day period. The data are listed here. Create a histogram. 3 10 10 7 8 11 8 10 7 4 17 13 9 7 12 8 10 4
A statistics practitioner would like to draw a histogram of 40 observations that range from 5.2 to 6.1.a. How many class intervals should the histogram use?b. Define the upper limits of the classes.
A data set consists of 300 observations that range between 147 and 241. a. What is an appropriate number of classes to have in the histogram? b. What class intervals would you suggest?
Are there differences between the four categories of education in terms of home ownership. Use a graph to answer the question.
Are there differences between the races in terms of family structure? Graphically answer the question.
Graphically describe the racial makeup of the respondents.
Are there differences between men and women heads of households in terms of education category (EDCL)? Use a graphical method to answer the question.
Use a graphical technique to describe the respondents’ family structure.
Use a graphical method to determine whether men and women differ with respect to working for themselves or someone else. The following exercises are based on the General Social Survey in 2014
Are there differences between the three categories of race with respect to working for the government or working in the private sector? Draw a graph to depict the differences.
Use a pie chart to depict the proportion of respondents who worked for the government or worked in the private sector.
Are there differences between men and women in terms of the completion of their highest degree? Use a graphical method to answer the question.
Graphically describe the respondents’ highest completed degree.
a. Determine the relative frequency distribution of marital status.b. Which graphical technique would you use to graphically describe marital status?c. Use your choice of graph.
Graphically describe the racial makeup of the respondents.
The population of the United States is approximately evenly divided between men and women. Draw a pie chart of the number of male and female respondents. Does it appear that the General Social Survey
Refer to Exercise 2.59. The percentage of uninsured in 2013 and 2014 in each of the 50 states plus District of Columbia was recorded. Use a graphical technique to show the decrease in the uninsured
The primary objective of the Affordable Care Act was to decrease the number of nonelderly without any health insurance. It is estimated that there are still approximately 40 million Americans without
The Consumer Expenditure Survey measures how consumers allocate their spending. A recent survey asked respondents to specify the amount of their budget spent on food, housing, transportation,
June 7 is known as Tax Freedom day in Canada. The annual taxes paid by an average Canadian family earning $105,236 is $45,167. The breakdown of these taxes is shown in the table below. Use an
Refer to Exercise 2.55. Here is a list of the top 10 foreign governments that own the U.S. debt (in order of magnitude). Depict these figures with a graph. Government Debt China, mainland 1,254.8
As of May 2016 the U.S. government owes $19,190,059,553,782. To whom does the U.S. government owe money? The list is shown below (in $billions). Use a graphical technique to depict these
The Gallup poll in Exercise 2.40 asked American adults about their views on economic issues. The survey also asked which political party they supported. 1. Democrat 2. Independent 3. Republican Use a
Exercise 2.39 featured a Gallup survey of American adults asking whether they are liberal, moderate or conservative on social issues. In addition, the survey asked respondents whether they considered
In addition to asking American adults whether they support keeping the Affordable Care Act the Gallup poll determined whether the respondents were 1. Democrats or 2. Republicans. Determine whether
In Exercise 2.35 a Gallup survey asked American adults whether they believed that upper income people are paying their fair share in federal taxes. Each respondent was also classified as 1.
Exercise 2.34 presented the data from a Pew Research Center survey of American adults describing whether their friends share their political views. Also recorded were the political views of the
The average loss from robbery in the United States in 2014 (last year available) was $1,227. Suppose that an insurance analyst wanted to know whether the type of robbery differs in the years 1995,
Has the educational level of adults changed over the past 15 years? To help answer this question the Bureau of Labor Statistics compiled the following table, which lists the number (1,000) of adults
Gallup OrganizationDate: May 2016Population: American adultsQuestion: “Describe your views on economic issues.”Responses:1. Liberal2. Moderate3. Conservativea. Determine the frequency and the
Gallup OrganizationDate: May 2016Population: American adultsQuestion: “Describe your views on social issues.”Responses:1. Liberal2. Moderate3. Conservativea. Determine the frequency and the
Gallup OrganizationDate: May 2016Population: American adultsQuestion “Please tell me whether you strongly favor or strongly oppose keeping the Affordable Care Act in place.Responses:1. Favor2.
Pew Research CenterDate: November 2015Population: Married, two-parent households with at least one child under 18Question: How do working parents share the work load at home?Responses:1. Mom: Full
Gallup Organization Date: April 2016 Population: American adults Question: “As I read off some different groups, please tell me if you think they are paying their FAIR share in federal taxes,
The table below lists the electricity consumption (in Kilowatt-hours) in the top 20 electricity using countries. Graph the numbers to help describe the figures. Electricity Consumption
Pew Research Center Date: December 2015 Population: American adults Question 1: “Which Social Class does the Republican Party favor?” Question 2: “Which Social Class does the Democratic Party
Pew Research Center Date: June 2015 Population: Americans who are most likely to vote, donate to campaigns, and participate directly in politics. (They comprise about 20% of all Americans.) Question:
Governments in both Canada and the United States have considered passing legislation that increases the minimum hourly wage to $15. The current (as of October 2015) minimum hourly wage in each
24 The following table lists the annual world production of 21 fruits (in millions of metric tons). Use a graphical technique to present these figures. Annual Production (Millions of Metric Tons)
Each year Michigan State University€™s Collegiate Employment Research Institute (CERI) conducts a broad-based survey that tracks starting salaries. This year CERI collected data from the
The following table lists the top 10 countries and the amounts of oil (in thousands of barrels per day) they exported to the United States in 2015. Oil Imports (Thousands of Barrels per Day)
The table below is breakdown of types and amounts of garbage the world creates. Use an appropriate graphical technique to present these figures. Amount Type of Garbage Organic Paper 1,189,563,400,000
Last year the world generated almost 2.6 trillion pounds of garbage. Here is a breakdown of the amounts of garbage produced by different regions of the world. Use a graphical technique to present
The production of steel has often been used as a measure of the economic strength of a country. The next table lists the steel produced in the 20 largest steel-producing nations in 2014. The units
The following table lists the average oil consumption per day of the top 20 oil-consuming nations. Use a graphical technique to display this information. Consumption of Oil (Barrels per Day)
The total reserves of oil in the world are 1,689,078,618,100 barrels. The total reserves of the top 15 countries listed in Exercise 2.13 are 1,563,350,000,000 barrels. Use a graphical technique that
A random sample of car owners was asked these questions. Identify the type of data.a. Make of carb. Age of your car in monthsc. Amount of annual insuranced. Number of miles on odometer
A survey of taxpayers who complete their own tax returns were asked the following questions. Determine the type of data each question produces.a. Did you use software?b. How long did it take you to

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