Solution manual for introduction to business statistics 7th edition

Solution Manual for Introduction to Business Statistics, 7th Edition

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CHAPTER 1 A PREVIEW OF BUSINESS STATISTICS

SECTION EXERCISES

1.1 d/p/e In ancient times, statistics was mainly employed for counting people or possessions in order to facilitate taxation.

1.2 d/p/m Statistical methods are useful in all facets of business today. Statistics can be used to describe information, to analyze data, to reach conclusions, and to make decisions.

1.3 d/p/m Descriptive statistics are used to summarize and describe a set of data. Inferential statistics are used to make generalizations, estimates, forecasts, or other judgments about the population from which the data (sample) is taken. Inferential statistics are involved when a state senator surveys some of her constituents in order to obtain guidance on how she should vote. She is using statistics to make judgments about the population based on the data from the sample

1.4 d/p/m This represents descriptive statistics; we are summarizing and describing the data.

1.5 d/p/m This information represents inferential statistics since we are using information collected from a sample of 20 adults to make inferences about all adults.

1.6 d/p/e Qualitative variables or "attributes" involve counting the number of people or objects that fall within categories. Quantitative variables determine how much of something is possessed.

1.7 d/p/e Discrete quantitative variables can take on only certain values along an interval, with the values having gaps between them. Discrete variables are applicable when we want to count the number of times something occurs. Continuous quantitative variables can take on any value along an interval. Continuous variables are applicable when there are no gaps between the exact values which these variables can take on, such as weight, height, volume, or distance.

Note: In this solutions manual, exercises are categorized according to type, tools required, and level of difficulty:

Type:

d = definitional/conceptual

c = computational

p = problem

Tools:

p = pencil

a = calculator

c = computer

Difficulty:

e = easy

m = moderate

d = difficult

For example, "c/a/m" refers to an exercise that is computational in nature, requires a pocket calculator, and is judged to be moderate in difficulty. The classifications are of necessity subjective. We have attempted to specify the most basic tool that could be practical for the task. In some cases (e.g., simple regression), the pocket calculator can be used even though a computer statistical package (if available)

is preferred. In other cases (e.g., multiple regression and analysis of variance), the computer is automatically specified as the required tool.

1.8 d/p/m

a. This information might be interpreted as a qualitative variable if we view it as expressing that the school is among those which have been accredited for the past 15 years versus those which have not been accredited for the past 15 years.

b. This information might be interpreted as a quantitative variable if we view it as counting the number of years the school has been accredited during the past 15-year period. For other locksmithing schools over the past 15 years, the number of years they have been accredited could be any integer value from 0 to 15.

1.9 d/p/m

a. This information is on the ordinal scale. The industries are viewed in terms of rank instead of the distance between them. However, we do not have a unit of measurement to describe how many more strikes Industry A has than Industry B.

b. This information is on the ratio scale. The industries can be viewed in terms of rank (C has lost fewer days per worker), and there is a unit of measurement enabling us to describe how many more days Industry D has lost per worker. Also, there is an absolute zero point and multiples are meaningful.

1.10 d/p/m

a. The lodge might give each guest a number to identify the state in which he or she resides.

b. The lodge could rank the rooms at the lodge from most attractive to least attractive.

c. The lodge could describe different months of the year according to their average temperatures.

d. The lodge could record the number of skiers at the lodge from each one of the New England states.

1.11 d/p/m The restaurant might be able to make decisions pertaining to such matters as the quality of food, the courtesy and number of employees, and the cleanliness of the restaurant.

1.12 d/p/m The company might report the percentage of burglaries in homes with their product versus the percentage in homes without their product. Hopefully, the former percentage is lower than the latter

1.13 d/p/m The company may manipulate the data to show what it wants to show; for example, by distorting the scale on a graph to make a large deficit appear very small. Another possibility is to use a sample that is not representative of the population.

1.14 d/p/e You should ask yourself what benefits the person or company stands to gain from the conclusions reached by the study.

CHAPTER EXERCISES

1.15 d/p/m This information would represent inferential statistics, since a sample is used to make generalizations about the population.

1.16 d/p/m

a. Qualitative; you are in one category or the other.

b. Qualitative; you are in one category or the other.

c. Quantitative, discrete; the number of people that attended is countable (0, 1, 2, … ).

d. Quantitative, discrete; the price can take on only certain values along an interval.

e. Quantitative, continuous; time can take on a value at any point along an interval.

f. Quantitative, discrete; the number of students that belong to a fraternity or sorority is countable.

1.17 d/p/m The amount of money paid out in premiums and the number of policies purchased in the previous year would play a role in how much you pay for your policy. Data such as the number of accidents, speeding tickets, or other moving violations you've had in the past few years could also play a role, as could data regarding accident or claim frequencies associated with the type of vehicle you drive.

1.18 d/p/m

a. Ratio scale; there is an absolute zero point associated with the number of employees.

b. Interval scale; there is no absolute zero point for temperature.

c. Nominal scale; we could use "1" to identify yes and "0" for no.

d. Ordinal scale; the cars are ranked but there is no measure for the distance between them.

1.19 d/p/m It will help them become more intelligent consumers of statistical claims and findings. Whether as citizens or as business professionals, such individuals will be better able to protect themselves from those in business or the media who may be either incompetent or unethical.

1.20 d/p/m

a. Major: nominal. Each major would be assigned a number.

b. Class: ordinal – Freshman, Sophomore, Junior, or Senior.

c. SAT score: interval. This value gives him a ranking and there is a unit of measurement, but multiples do not make sense. (The minimum total score is 400, not zero.)

d. The $30 used to buy a new calculator: ratio.

1.21 d/p/m

a. The population would be all 40 students who are enrolled in the English class. The sample would be the 5 students in the class that Roger questioned.

b. This is probably not a representative sample, since Roger chose 5 students that always sit in the back. They may all be friends or may have different opinions than those sitting in the front.

1.22 d/p/m

a. This information can be viewed as representing the nominal scale of measurement if we view the stocks in terms of returning more versus not returning more than the rate that had been expected.

b. This information can be viewed as representing the ratio scale of measurement. For example, a 40% rate for above-expected performance would be twice a 20% rate. There is an absolute zero, a unit of measurement (percentage point), and multiples are meaningful.

How My Kitten Plays

My kitten plays with a string. I hold the string in my hand. I drag the string on the ground. Then I run as fast as I can.

The kitten tries to catch the string with her paw. Sometimes she catches the string. Then she puts it into her mouth and runs away.

Sometimes, when she runs after me, she stumbles and falls. The kitten can not always get the string. Sometimes I run too fast for her. Then she can not catch the string.

I like to play with my kitten. I jerk the string quickly. Then kitty jumps. But she can not get the string.

Sometimes I use a tape measure instead of a string. Kitty tries to get it.

I often tie a spool to the string. Kitty tries to get the spool.

I think it is fun to play with my kitten. The kitten likes to play, too.

Ding Dong!

Ding dong! ding dong! I’ll sing you a song. ’Tis about my little kitty. She’s speckled all over, And I know you’ll love her, For she is very pretty.

Eliza Lee Follen

What Kittens Do

Our kitten plays with me. Sometimes she is cross. Then she scratches my arm.

If we are unkind to kitty, she may scratch us.

My little kitten plays with her mother’s tail. Sometimes she rolls on the grass. When the kitten falls, she says “Meow!”

I used to have a kitten that would chase her own tail.

Harry’s kitten plays with a shoe string. Marion’s kitten plays with her toes. Another kitten plays with a ball. My aunt has a kitten. I touched his whiskers. He turned his head and tried to bite me.

Next time I am not going to touch his whiskers. I like to watch the kittens. They do so many interesting things.

The Pussy Cat

A pussy cat came to our door, That we had never seen before. He was all cold and wet and thin, So Mother went and brought him in. And now he lives with us, and he Is just as happy as can be— All round, and warm, and smooth, and fat. I love that little pussy cat.

Edith Ballinger Price

The Kitten’s Food

All kittens must have milk to drink. I know one kitty that eats fish. Another one likes salmon.

John’s kitten eats potatoes and gravy. One pet kitten eats oatmeal. A kitten named Teddy likes ice cream.

My kitten likes bread and milk. She likes meat very much. We put the meat on an old plate. Then kitty holds the meat with her paws and eats it. When she smells the meat, my kitten always purrs.

My kitten drinks milk, too. We put the milk into a little saucer. Then the kitten laps the milk from the saucer.

When my kitten wants something to eat, she says “Meow.” Then I give her some food.

Our kitten eats after we have eaten. She eats the food that is left over.

Food makes the little kitten grow. I always try to give my kitten good food.

Two Friends

My grandmother has a pet dog and a pet cat. They are the best of friends.

Sometimes both kitty and doggy lie down on the same rug in front of the fireplace. They eat from the same dish, and drink from the same pan.

They both lie down in the same old armchair. They are good pals.

Grandmother says that she likes both the dog and the cat. She is glad that they are good friends.

If they were enemies, she wouldn’t know what to do with them.

The Kitten at Play

I visited a friend’s home. They had a kitten.

The kitten was black and white. He was a pretty kitten.

It was the fall of the year. The dead leaves were on the ground.

The kitten saw a pile of leaves in the yard. The wind blew the leaves. The leaves whirled round and round.

The kitten ran after the leaves. He could not catch the leaves. One leaf stopped.

The kitten thought it was a mouse. So he put the leaf into his mouth.

When he found it was not a mouse, he dropped the leaf. But the kitten still chases leaves. I like to watch him play.

The Kitten and the Falling Leaves

See the kitten on the wall, Sporting with the leaves that fall, Withered leaves—one—two— and three— From the lofty elder tree! Through the calm and frosty air Of this morning bright and fair.

William Wordsworth

Keeping Clean

Did you ever see a mother cat wash herself? She wets her fur with her tongue.

She washes her whole body that way.

Then she washes her face with her wet paw. She uses her front paws for hands.

She likes to keep herself clean.

She wants the little kittens to be clean.

So she washes them too.

Mother cat’s fur is shiny. She is a very clean cat. She is cleaner than some children I know.

The Cat and the Rat

Once upon a time I had a cat. He was a big cat. One day he was in the house. I opened the door. The cat went out-of-doors. After a while, he wanted to come back into the house. He mewed and scratched at the door.

So I opened the door and let him in. I was surprised because he had a rat in his mouth. The rat was already dead.

But the cat wanted us to see the rat that he had caught. I think the cat was proud of what he had done.

The Ways of a Cat

See the kitten, how she starts, Crouches, stretches, paws, and darts!

William Wordsworth

The Cat and the Dog

One Sunday we saw a big cat climb up a tree. Just then a dog came by. The dog tried to get at the cat. The dog stood at the foot of the tree and barked.

The cat would not come down. The dog barked and barked. At last he became very tired. Then the dog went away.

The cat looked all around. She did not see the dog anywhere. So she climbed down the tree. Then the cat ran home.

How to Get Breakfast

Said the first little chick, With a queer little squirm, “I wish I could find A fat little worm.”

Said the next little chick, With an odd little shrug, “I wish I could find A fat little bug.”

Said the third little chick, With a shrill little squeal, “I wish I could find Some nice yellow meal.”

“See here,” called the hen, From the near garden patch, “If you want any breakfast Just come here and scratch!”

Our Chickens

We have a mother hen and many little chickens. We keep the chickens in a barn. When the chickens were very young they looked like fluffy balls. Every day they go out in the yard. The mother hen takes care of them.

We lost some of our chickens. Some were weak and died. The rats killed some of the chickens. The mother hen stepped on one. A board fell on one chicken and killed it.

But we still have many baby chickens. Mother and I feed the chickens.

When the chickens were smaller, we gave them milk and oatmeal. Now we feed them corn.

We throw the corn on the ground.

When the chickens see us, they come running to the place where we are standing.

They are always glad to get something to eat.

At night the little chicks cuddle under the mother hen’s wings.