Questions and Answers of Statistics for Management

Use the seasonal indexes and trend line to forecast the quarterly earnings for the years 2014 and 2015 in Exercise 20.24.In exercise 20.24The quarterly earnings (in $millions) of a large soft-drink
Refer to Exercise 20.23. Use the seasonal indexes and the trend line to forecast the time series for the next four quarters.In exercise 20.23Given the following time series, compute the seasonal
Use the seasonal indexes and trend line to forecast the time series for the next 5 days in Exercise 20.22.In exercise 20.22For the following time series, compute the seasonal (daily) indexes. The
Apply exponential smoothing with w = .4 to forecast the next four quarters in Exercise 20.15.In exercise 20.15The following quarterly sales of a department store chain were recorded for the years
The following auto regressive equation was developed. Forecast the next value if the last observed value was 11.ŷ = 155 + 21yt−1
Use the following auto regressive equation to forecast the next value of the time series if the last observed value is 65.ŷ = 625 − 1.3yt−1
The following trend line and seasonal indexes were computed from 4 weeks of daily observations. Forecast the 7 values for next week.ŷ = 120 + 2.3t t = 1, 2, . . . ,
The following trend line and seasonal indexes were computed from 10 years of quarterly observations. Forecast the next year’s time series.ŷ = 150 + 3t t = 1, 2, . . . ,
The quarterly earnings (in $millions) of a large soft-drink manufacturer have been recorded for the years 2013€“2016. These data are listed here. Compute the seasonal indexes given the
Given the following time series, compute the seasonal indexes. The regression equation isyÌ‚ = 47.7 ˆ’ 1.06t (t = 1, 2, . . . , 20) Year Quarter 55 44 46 39 2 4 3 41 38 37
For the following time series, compute theseasonal (daily) indexes.The regression line is yÌ‚ = 16.8 + .366t (t = 1, 2, . . . , 20) Week Day 2 3 Monday Tuesday Wednesday Thursday
According to the U.S. Census the average family spent $2675 on food away from home (FOODAWAY) eaten at home. Is there enough evidence to infer that the average upperclass household spent more than
Are there differences between men and women (HHSEX: 1 = Male, 2 = Female) in their choices of employment (OCCAT2 Occupation classification for head of household: 1. Managerial/ professional, 2.
One question asked by the survey addressed the issue of whether the household had any debts (DEBT: 1 = Yes). Is there sufficient evidence to infer that male and female heads (HHSEX: 1 = Male, 2 =
Students may be surprised to learn that people with high net worth also have large debts. Estimate the mean household debt for members of the upper class (DEBT).
Late payments on virtually all loans result in financial penalties. For example, credit card companies often increase their interest rates to around 30% if a customer is late paying their monthly
Is the number of people working for themselves a measure of the state of the economy? A large number may mean that a large proportion of the population cannot find a job. Estimate the number of
Do middle-class male heads of households have more invested in the stock market than their female counterparts (HHSEX: 1 = Male, 2 = Female)? Conduct a statistical analysis to determine whether there
Is the amount spent of food away from home (FOODAWAY) related to how well educated the head of the household is (EDCL 1 = No high school diploma, 2 = High school diploma, 3 = Some college, 4 =
Is there a relationship between years of education (EDUC) of people and the years of education of their mothers (MAEDUC)? Use a statistical procedure to answer the question. confidence level for
The survey asked respondents :If you were to get enough money to live as comfortably as you would like for the rest of your life, would you continue to work or would you stop working?” Can we infer
Can we infer from the data that the majority of Americans support capital punishment for murderers (CAPPUN: 1 = Favor, 2 = Oppose)?
Since there are no employers that one needs to impress to get a job we would expect self-employed (WRKSLF: 1 = self-employed, 2 = someone else) people to have less formal education than other workers
Home ownership was always part of the American dream. Estimate the number of Americans who own their own home (DWELOWN: 1 = Own).
Do liberals like paying tax and conservative hate it? Or they all the same. Use an appropriate statistical technique to determine whether liberals, moderates, and conservatives (POLVIEWS3) differ in
The survey asked the question, “Do you favor requiring a police permit to buy a gun?” Is there enough evidence to infer that liberals, moderates, and conservatives (POLVIEWS3) differ in their
The following question was asked. “Is it government’s responsibility to help pay for doctor and hospital bills?” (The responses were HELPSICK: 1 = Government should help; 2, 3, 4, 5 = People
Who is most educated among the liberals, moderates, and conservatives) (POLVIEWS3: 1 = Liberal, 2 = Moderate, 3 = Conservative)? Conduct a test to determine whether differences in education (EDUC)
One way of judging the state of the economy is to determine how many hours is the average person working per week. Estimate with 95% confidence the number of hours of work per week for the average
Do Americans who want government to improve the standard of living of poor people also want government to help sick people pay doctor and hospital bills? Answer the question by determining whether
As people age do they believe that government should take no action to reduce income inequality? Conduct a test to determine whether there is enough evidence to infer that older Americans (AGE) are
There are some jobs people have for life (university professor comes immediately to mind). But do most people go from one job to another sometimes experiencing unemployment?The General Social survey
Use an inferential technique to determine whether there is enough evidence to infer that women (SEX: 1 = Male, 2 = Female) are more likely to work for the government (WRKGOVT: 1 = Government, 2 =
One of the arguments put forth by advocates of lower tuition fees is that children of low or moderate income families will not be able to pay for a child’s university education. To examine this
How many golfers are there in the United States? A survey of American adults (age 18 and above) asked whether they had played golf at least once a month during the summer. The responses are 2 = yes
What should be the priority of paramedics who respond to accidents? Should they treat the patients with their limited facilities or should they rush the victims to the nearest hospital (an approach
The high cost of medical care makes it imperative that hospitals operate efficiently and effectively. As part of a larger study, patients leaving a hospital were surveyed. They were asked how
Winter is the influenza season in North America. Each winter, thousands of elderly and sick people die from the flu and its attendant complications. Consequently, many elderly people receive flu
Under the rules of Canada’s Employment Insurance (EI) plan, some workers can use EI repeatedly after working only a short time. The amount of time needed to qualify for EI varies by region and by
Ever since the discovery of germs, parents have been telling their children to wash their hands. Common sense tells us that this should help minimize the spread of infectious diseases and lead to
Obesity among children in North America is said to be at near-epidemic proportions. Some experts blame television for the problem, citing the statistic that children watch an average of 26 hours per
Simco Inc. is a manufacturer that purchased a new piece of equipment designed to reduce costs. After several months of operation, the results were quite unsatisfactory. The operations manager
Flonase is a nasal allergy treatment; like all drugs, it has side effects. Before approving it, the company (GlaxoSmithKline) performs a number of experiments to determine the drug’s side effects.
The cost of taking an extra year to earn an MBA is quite high. To determine whether it is worthwhile, a BBA graduate surveyed 200 people who had either a BBA or an MBA and recorded their annual
In Chapter 7, we showed that diversification reduces the risk associated with a portfolio of investments. (Most experts advise their clients that the portfolios should contain between 20 and 30
An important measure of the health of a nation’s economy is total debt. A Canadian survey asked a random sample of households how much money (in $1,000s) they owed. This includes mortgages, loans,
Refer to Exercise A19.9. The economist also wanted to know whether there are differences in miles driven between cars, buses, and vans, pickups, and SUVs.In exercise A19.9The high price of gasoline
The issue of immigration, legal and illegal, has political and economic ramifications. An important component of the issue is how well immigrants integrate into the American economy. A University of
Why do some students do well in university while others struggle? To help answer this question, a random sample of first-year students at four universities was selected. Those who had a grade point
Refer to A19.5. To acquire information about who is shopping downtown, the statistics practitioner also recorded the annual household income (in $1,000s) of the respondents. Is there enough evidence
In city after city, downtown cores have become less and less populated and poorer because shoppers have taken their money to the suburbs and to shopping malls. One reason often given for the decline
In an effort to analyze the results of Exercise A15.9, the researcher recorded the total travel length of the course. This variable measures the total distance golfers must walk to play a round of
Refer to Exercise 13.36 where respondents were asked to taste the same wine in two different bottles. The first bottle was capped using a cork, and the second had a metal screw cap. Respondents were
Some customers spend a great deal of time doing research before choosing a particular brand of a product, particularly an expensive product. Does this result in a more satisfied customer?To shed
Most supermarkets load groceries into plastic bags. However, plastic bags take many years to decompose in garbage dumps. To determine how big the problem might be, a random sample of American
Refer to Exercise 16.139. The gender of the student was recorded where 1 = male and 0 = female.a. Does the inclusion of gender improve the model?b. Predict with 95% confidence the height of a female
Refer to Exercise 16.132, where a simple linear regression model was used to analyze the relationship between welding machine breakdowns and the age of the machine. The analysis proved to be so
Refer to Exercise 17.10, where a multiple regression analysis was performed to predict men’s longevity based on the parents’ and grandparents’ longevity. In addition to these data, suppose that
Are there differences between male and female (HHSEX: 1 = Male, 2 = Female) heads of households with respect to family structure (FAMSTRUCT: 1 = Not married or living with partner + children, 2 = Not
Does education affect how people spend their food dollars? Answer the question by determining whether there is enough statistical evidence to infer that there are differences in expenditures for food
In 2010, banks were still in trouble because of the housing meltdown. As a result, they were increasing their standards for credit cards and loans. Estimate the proportion of people who were turned
The survey asked whether the household had declared bankruptcy in the previous 5 years (BNKRUPLAST5: 1 = Yes). Is there enough evidence to conclude that male and female (HHSEX: 1 = Male, 2 = Female)
According to the U.S. Census, the average family spent $3921 on food eaten at home (FOOD HOME). Is there enough evidence to infer that the average upper class household spent more than the average
The upper class in the 2010 survey had household net worth between $1,345,975 and $7,402,095. Households in this net worth category have large amounts to invest in the stock market. Estimate the mean
In 2007–2009, the United States was hit with a financial crisis brought on by a crash in the housing market. How has this impacted the proportion of families who own their home in 2010? Estimate
Do middle-class households headed by men (HHSEX: 1 = male, 2 = female) spend more money on food away from home than their female counterparts (FOODAWAY)? Conduct a test to answer the question.
Is the number of years of education of individuals affected by the educational attainment of their fathers? To answer this question, is there enough evidence to conclude that years of education
Is there sufficient evidence to conclude that as income (RINCOME) increases Americans are less likely to believe that government should reduce income inequality (EQWLTH: 1 = Government should reduce
One of the questions in the survey was “Does the Earth go around the Sun or does the Sun go around the Earth?” (EARTHSUN: 1 = Earth around Sun, 2 = Sun around Earth, 8 = Don’t know, 9 = No
Many aspects of life, including jobs, become routine and perhaps boring. The General Social Survey asked respondents: “In general, do you find life... Is there enough evidence to infer that the
Are Americans more educated? Conduct a test to determine whether there is enough evidence to conclude that the average American has completed at least a high school education (12 years of school)
Do most people love their jobs? The survey asked respondents: “On the whole, how satisfied are you with the work you do?” Estimate the number of American workers who are very satisfied (SATJOB: 1
Do people have an overconfidence attitude about their financial situation compared to others? Estimate the number of American adults who say that they belong in the upper class (CLASS: 4 = Upper
Do married men and women have different perceptions of their marriage? The survey asked the following question: “Taking all things together, how would you describe your marriage (HAPMAR: 1= Very
Do men and women differ in their belief that they pay too much income tax? Conduct a test to determine whether there is enough evidence to conclude that men and women (SEX: 1 = Male, 2 = Female)
Does political philosophy affect support for capital punishment? Is there enough evidence to conclude that support for capital punishment (CAPPUN: 1 = Favor, 2 = Oppose) differs between the three
There are many advantages to selfemployment (WRKSLF: 1 = self-employed; 2 = someone else) including the ability to decide how hard and how often to work. Does that mean that self-employed individuals
Are there differences between Democrats, Independents, and Republicans (PARTYID3) in their answers to the following question: “Should government do more or less to solve country’s problems
Who is more likely to have completed a graduate degree, men or women? Conduct a test to determine whether there is enough evidence to infer that men and women (SEX: 1 = Male, 2 = Female) differ in
Do conservatives oppose gun control while liberals support it? Conduct a test to determine whether there is sufficient evidence to conclude that the three political parties (PARTYID3: 1 = Democrat, 2
Is it true that as we age we become more conservative? If this is true we would expect that conservatives would be older than liberals and independents. Analyze the data to determine whether there is
Are American women more liberal than American men? If so we should see evidence from the General Social Survey. Is there enough evidence to conclude that there are differences in political
The survey asked the following question: “I’m going to show you a seven-point scale on which political views that people might hold arranged from extremely liberal to extremely conservative.
The survey asked the following question: “Is it government’s responsibility to help pay for doctor and hospital bills?” The responses were HELPSICK: 1 = Government should help; 2, 3, 4, 5 =
An economist wanted to learn more about total compensation packages. She conducted a survey of 858 workers and asked all to report their hourly wages or salaries, their total benefits, and whether
In an effort to explain to customers why their electricity bills have been so high lately, and how customers could save money by reducing the thermostat settings on both space heaters and water
Repeat Exercise 17.23 for expenditures on food away from home (FOODAWAY).In exercise 17.23How are middle class households’ expenditures on food eaten at home affected by the age, education, and
How are middle class households’ expenditures on food eaten at home affected by the age, education, and income of the head of the household?To answer the question conduct a regression analysis
The admissions officer of a university is trying to develop a formal system to decide which students to admit to the university. She believes that determinants of success include the standard
The general manager of the Cleveland Indians baseball team is in the process of determining which minor-league players to draft. He is aware that his team needs home-run hitters and would like to
Do middle-class heads of households who have a high school diploma only have more assets (ASSET) than those who did not finish high school (EDCL: 1 = No high school diploma, 2 = High school diploma)?
One way to examine the issue of family structure is to determine the number of households with no spouse or partner. Estimate the proportion of households whose head is neither married nor living
Do upper-class households get a great deal of the income from interest and dividends? To answer the question, estimate the mean interest and dividend income for upper-class households (INTDIVINC).
The upper class in the 2010 survey had household net worth between $1,345,975 and $7,402,095. Money kept in checking accounts earns no interest but are kept to pay bills. Estimate the mean amount
Is there sufficient evidence to conclude that there are differences in income (INCOME) between the four categories of educational attainment (EDCL: 1 = No high school diploma, 2 = High school
In 2010, the American economy was still faltering because of the housing meltdown during 2007–2009. One sign of the difficulty is people struggling to pay their living expenses. Estimate the number
Females are now attending colleges and universities in greater numbers than men. In the past men were more likely than women to have graduate degrees. Conduct a test to determine whether there is
Are female and male heads of households equally likely to carry a balance on their credit cards? Conduct a test to determine whether there is a difference between the sexes (HHSEX: 1 = Male, 2 =
Do middle-class households headed by women (HHSEX: 1 = Male, 2 = Female) spend more money on food at home than their male counterparts (FOODHOME)? Conduct a test to answer the question.
Is there enough evidence to conclude that there are differences between the three working categories (OCCAT2: 1 = Managerial/professional, 2= Technical/sales/services, 3 = Other) in terms of whether

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