Essentials Of Statistics For Business & Economics 9th Edition David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran - Solutions

Discover comprehensive resources for "Essentials Of Statistics For Business & Economics 9th Edition" with our expertly crafted solutions. Access the complete answers key and solutions pdf, offering detailed chapter solutions and step-by-step answers to enhance your learning. Our solution manual is tailored for both students and educators, providing an invaluable instructor manual and test bank to support your studies. Dive into solved problems and questions and answers that simplify complex statistical concepts, available for free download. Optimize your understanding of this essential textbook with our online resources and unlock your potential in business and economics statistics.

Six months ago, Fuentes Salty Snacks, Inc., added a new flavor to its line of potato chips. The new flavor, candied bacon, was introduced through a nationwide rollout supported by an extensive promotional campaign. Fuentes’ management is convinced that quick penetration into grocery stores is a
Fresno Board Games manufactures and sells several different board games online and through department stores nationwide. Fresno’s most popular game, ¡Cabestrillo Cinco!, is played with 5 six-sided dice. Fresno has purchased dice for this game from FuentesChipsBox Cars, Ltd., for twenty-five
The Ertl Company is well known for its high-quality die-cast metal alloy toy replicas of tractors and other farm equipment. As part of a periodic procurement evaluation, Ertl is considering purchasing parts for a toy tractor line from three different suppliers. The parts received from the suppliers
A Bloomberg Businessweek subscriber study asked, “In the past 12 months, when traveling for business, what type of airline ticket did you purchase most often?” A second question asked if the type of airline ticket purchased most often was for domestic or international travel. Sample data
A Financial Times/Harris Poll surveyed people in six countries to assess attitudes toward a variety of alternate forms of energy. The data in the following table are a portion of the poll’s findings concerning whether people favor or oppose the building of new nuclear power plants.a. How large
TourisTopia Travel (Triple T) is an online travel agency that specializes in trips to exotic locations around the world for groups of ten or more travelers. Triple T’s marketing manager has been working on a major revision of the homepage of Triple T’s website. The content for the homepage has
Consumer Reports tested 166 different point-and-shoot digital cameras. Based upon factors such as the number of megapixels, weight (oz.), image quality, and ease of use, they developed an overall score for each camera tested. The overall score ranges from 0 to 100, with higher scores indicating
Buckeye Creek Amusement Park is open from the beginning of May to the end of October. Buckeye Creek relies heavily on the sale of season passes. The sale of season passes brings in significant revenue prior to the park opening each season, and season pass holders contribute a substantial portion of
Consumer Research, Inc., is an independent agency that conducts research on consumer attitudes and behaviors for a variety of firms. In one study, a client asked for an investigation of consumer characteristics that can be used to predict the amount charged by credit card users. Data were collected
Table 1.7 shows data for eight phones (Consumer Reports). The Overall Score, a measure of the overall quality for the phone, ranges from 0 to 100. Voice Quality has possible ratings of poor, fair, good, very good, and excellent. Talk Time is the manufacturer’s claim of how long the phone can be
J.D. Power and Associates surveys new automobile owners to learn about the quality of recently purchased vehicles. The following questions were asked in a J.D. Power Initial Quality Survey.a. Did you purchase or lease the vehicle?b. What price did you pay?c. What is the overall attractiveness of
Many service companies collect data via a follow- up survey of their customers. For example, to ascertain customer sentiment, Delta Air Lines sends an email to customers immediately following a flight. Among other questions, Delta asks: How likely are you to recommend Delta Air Lines to others? The
The U.S. Census Bureau tracks sales per month for various products and services through its Monthly Retail Trade Survey. Figure 1.9 shows monthly jewelry sales in millions of dollars for 2016.a. Are the data quantitative or categorical?b. Are the data cross-sectional or time series?c. Which four
Skechers U.S.A., Inc., is a performance footwear company headquartered in Manhattan Beach, California. The sales revenue for Skechers over a four-year period are as follows:a. Are these cross-sectional or time-series data?b. Construct a bar graph similar to Figure 1.2 B.c. What can you say about
A manager of a large corporation recommends a $10,000 raise be given to keep a valued subordinate from moving to another company. What internal and external sources of data might be used to decide whether such a salary increase is appropriate?
The file Snow contains temperature and snowfall data for 51 major U.S. cities over 30 years. For example, the average low temperature for Columbus, Ohio, is 44 degrees and the average annual snowfall is 27.5 inches.a. Construct a scatter diagram with the average annual low temperature on the
The file MedianHousehold contains the median household income for a family with two earners for each of the fifty states (American Community Survey).a. Construct a frequency and a percent frequency distribution of median household income. Begin the first class at 65.0 and use a class width of 5.b.
Suppose that an independent study of middle-level managers employed at companies located in Atlanta, Georgia, was conducted to compare the salaries of managers working at firms in Atlanta to the salaries of middle-level managers across the nation. The following data show the salary, in thousands of
The following table shows the total return and the number of funds for four categories of mutual funds.a. Using the number of funds as weights, compute the weighted average total return for these mutual funds.b. Is there any difficulty associated with using the “number of funds” as the weights
Annual revenue for Corning Supplies grew by 5.5% in 2014, 1.1% in 2015, −3.5% in 2016, −1.1% in 2017, and 1.8% in 2018. What is the mean growth annual rate over this period?
The following data were used to construct the histograms of the number of days required to fill orders for Dawson Supply, Inc., and J.C. Clark Distributors. Use the range and standard deviation to support the previous observation that Dawson Supply provides the more consistent and reliable
Show the five-number summary and the boxplot for the following data: 5, 15, 18, 10, 8, 12, 16, 10, 6.
Consumer Reports provides overall customer satisfaction scores for AT&T, Sprint, T-Mobile, and Verizon cell-phone services in major metropolitan areas throughout the United States. The rating for each service reflects the overall customer satisfaction considering a variety of factors such as
Fortune magazine’s list of the world’s most admired companies for 2014 is provided in the data contained in the file AdmiredCompanies (Fortune magazine website). The data in the column labeled Return” shows the one-year total return (%) for the top ranked 50 companies. For the same
Americans tend to dine out multiple times per week. The number of times a sample of 20 families dined out last week provides the following data.a. Compute the mean and median.b. Compute the first and third quartiles.c. Compute the range and interquartile range.d. Compute the variance and standard
A 2017 USA Today article reports that NCAA football coaches’ salaries have continued to increase in recent years (USA Today). The annual base salaries for the previous head football coach and the new head football coach at 23 schools are given in the file Coaches.a. Determine the median annual
U.S. companies lose $63.2 billion per year from workers with insomnia. Accordign to a 2013 article in the Wall Street Journal, workers lose an average of 7.8 days of productivity per year due to lack of sleep. The following data show the number of hours of sleep attained during a recent night for a
The following data represent a sample of 14 household incomes ($1000s). Answer the following questions based on this sample.a. What is the median household income for these sample data?b. According to a previous survey, the median annual household income five years ago was $55,000. Based on the
Travel + Leisure magazine provides an annual list of the 500 best hotels in the world. The magazine provides a rating for each hotel along with a brief description that includes the size of the hotel, amenities, and the cost per night for a double room. A sample of 12 of the top-rated hotels in the
Rob’s Market (RM) is a regional food store chain in the southwest United States. David White, Director of Business Intelligence for RM, would like to initiate a study of the purchase behavior of customers who use the RM loyalty card (a card that customers scan at checkout to qualify for
The Pew Internet & American Life project conducted a survey that included several questions about how Internet users feel about search engines and other websites collecting information about them and using this information either to shape search results or target advertising to them. In one
Harriet McNeil, proprietor of McNeil’s Auto Mall, believes that it is good business for her atuomobile dealership to have more customers on the lot than can be served, as she believes this creates an impression that demand for the automobiles on her lot is high. However, she also understands that
Several years ago, management at Tuglar Corporation established a grievance committee composed of employees who volunteered to work toward the amicable resolution of disputes between Tuglar management and its employees. Each year management issue a call for volunteers to serve on the grievance
The Census Bureau includes nine states in what it defines as the Northeast region of the United States. Assume that the government is interested in tracking unemployment in these nine states and that the random variable of interest is the number of Northeastern states with an unemployment rate that
The following data has been collected on the number of times that owner-occupied and renter-occupied units had a water supply stoppage lasting 6 or more hours in the past 3 months.a. Define a random variable x = number of times that owner-occupied units had a water supply stoppage lasting 6 or more
The probability distribution for damage claims paid by the Newton Automobile Insurance Company on collision insurance follows.Payment ($) ....................... Probability0 ................................................. .85500 ............................................. .041000
The J. R. Ryland Computer Company is considering a plant expansion to enable the company to begin production of a new computer product. The company’s president must determine whether to make the expansion a medium- or large-scale project. Demand for the new product is uncertain, which for
J.P. Morgan Asset Management publishes information about financial investments. Between 2002 and 2011, the expected return for the S&P 500 was 5.04% with a standard deviation of 19.45% and the expected return over that same period for a core bonds fund was 5.78% with a standard deviation of
In addition to the information in exercise 29 on the S&P 500 and core bonds, J.P. Morgan Asset Management reported that the expected return for real estate investment trusts (REITs) during the same time period was 13.07% with a standard deviation of 23.17% (J.P. Morgan Asset Management, Guide
Consider a binomial experiment with n = 10 and p = .10.a. Compute f (0).b. Compute f (2).c. Compute P(x ≤ 2).d. Compute P(x ≥ 1).e. Compute E(x).f. Compute Var(x) and s.
Consider a binomial experiment with n = 20 and p = .70.a. Compute f (12).b. Compute f (16).c. Compute P(x ≥ 16).d. Compute P(x ≤ 15).e. Compute E(x).f. Compute Var (x) and s.
Suppose that a random sample of fifteen 18- to 34-year-olds living with their parents is selected and asked if they contribute to household expenses.a. Is the selection of the fifteen 18- to 34-year-olds living with their parents a binomial experiment? Explain.b. If the sample shows that none of
Suppose N = 15 and r = 4. What is the probability of x = 3 for n = 10?
More and more shoppers prefer to do their holiday shopping online from companies such as Amazon. Suppose we have a group of 10 shoppers; 7 prefer to do their holiday hopping online and 3 prefer to do their holiday shopping in stores. A random sample of 3 of these 10 shoppers is selected for a
A Pew Research Survey asked adults in the United States which technologies would be “very hard” to give up. The following responses were obtained: Internet 53%, smartphone 49%, email 36%, and land line phone 28% (USA Today website).a. If 20 adult Internet users are surveyed, what is the
According to U.S. News & World Reports, 7 of the top 10 graduate schools of business have students with an average undergraduate grade point average (GPA) of 3.50 or higher. Suppose that we randomly select 2 of the top 10 graduate schools of business.a. What is the probability that exactly one
Suppose that the mean daily viewing time of television is 8.35 hours. Use a normal probability distribution with a standard deviation of 2.5 hours to answer the following questions about daily television viewing per household. a. What is the probability that a household views television
According to a Yale program on climate change communication survey, 71% of Americans think global warming is happening (American Psychological Association website).a. For a sample of 15 Americans, what is the probability that at least 12 believe global warming is occurring? Use the binomial
Suppose that of those individuals who play video and computer games, 18% are under 18 years old, 53% are 18–59 years old, and 29% are over 59 years old. Use the normal approximation of the binomial distribution to answer the questions below.a. For a sample of 800 people who play these games, how
Comcast Corporation is a global telecommunications company headquartered in Philadelphia, PA. Generally known for reliable service, the company periodically experiences unexpected service interruptions. When service interruptions do occur, Comcast customers who call the office receive a message
In 2017, ABC News reported that 58% of U.S. drivers admit to speeding. Suppose that a new satellite technology can instantly measure the speed of any vehicle on a U.S. road and determine whether the vehicle is speeding, and this satellite technology was used to take a sample of 20,000 vehicles at
The success of an airline depends heavily on its ability to provide a pleasant customer experience. One dimension of customer service on which airlines compete is on-time arrival. The file LateFlights contains a sample of data from delayed flights showing the number of minutes each delayed flight
Battery life is an important issue for many smartphone owners. Public health studies have examined “low-battery anxiety” and acute anxiety called nomophobia that results when a smartphone user’s phone battery charge runs lowand then dies (Wall Street Journal,
According to the 2017 Corporate Travel Index compiled by Business Travel News, the average daily cost for business travel in the United Statesrose to $321 per day (Executive Travel website, https://executivetravel.com/new-business-travel-study-says-average-per diem-is-now-321day/). The file Travel
Ball bearing manufacturing is a highly precise business in which minimal part variability is critical. Large variances in the size of the ball bearings cause bearing failure and rapid wearout. Production standards call for a maximum variance of .0001 inches2. Gerry Liddy has gathered a sample of 15

Essentials Of Statistics For Business & Economics 9th Edition David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran - Solutions

Step by Step Answers