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Introductory Business Statistics

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Introductory Business StatisticsSolutions
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Table of contents
  1. Preface
  2. 1 Sampling and Data
    1. Introduction
    2. 1.1 Definitions of Statistics, Probability, and Key Terms
    3. 1.2 Data, Sampling, and Variation in Data and Sampling
    4. 1.3 Levels of Measurement
    5. 1.4 Experimental Design and Ethics
    6. Key Terms
    7. Chapter Review
    8. Homework
    9. References
    10. Solutions
  3. 2 Descriptive Statistics
    1. Introduction
    2. 2.1 Display Data
    3. 2.2 Measures of the Location of the Data
    4. 2.3 Measures of the Center of the Data
    5. 2.4 Sigma Notation and Calculating the Arithmetic Mean
    6. 2.5 Geometric Mean
    7. 2.6 Skewness and the Mean, Median, and Mode
    8. 2.7 Measures of the Spread of the Data
    9. Key Terms
    10. Chapter Review
    11. Formula Review
    12. Practice
    13. Homework
    14. Bringing It Together: Homework
    15. References
    16. Solutions
  4. 3 Probability Topics
    1. Introduction
    2. 3.1 Terminology
    3. 3.2 Independent and Mutually Exclusive Events
    4. 3.3 Two Basic Rules of Probability
    5. 3.4 Contingency Tables and Probability Trees
    6. 3.5 Venn Diagrams
    7. Key Terms
    8. Chapter Review
    9. Formula Review
    10. Practice
    11. Bringing It Together: Practice
    12. Homework
    13. Bringing It Together: Homework
    14. References
    15. Solutions
  5. 4 Discrete Random Variables
    1. Introduction
    2. 4.1 Hypergeometric Distribution
    3. 4.2 Binomial Distribution
    4. 4.3 Geometric Distribution
    5. 4.4 Poisson Distribution
    6. Key Terms
    7. Chapter Review
    8. Formula Review
    9. Practice
    10. Homework
    11. References
    12. Solutions
  6. 5 Continuous Random Variables
    1. Introduction
    2. 5.1 Properties of Continuous Probability Density Functions
    3. 5.2 The Uniform Distribution
    4. 5.3 The Exponential Distribution
    5. Key Terms
    6. Chapter Review
    7. Formula Review
    8. Practice
    9. Homework
    10. References
    11. Solutions
  7. 6 The Normal Distribution
    1. Introduction
    2. 6.1 The Standard Normal Distribution
    3. 6.2 Using the Normal Distribution
    4. 6.3 Estimating the Binomial with the Normal Distribution
    5. Key Terms
    6. Chapter Review
    7. Formula Review
    8. Practice
    9. Homework
    10. References
    11. Solutions
  8. 7 The Central Limit Theorem
    1. Introduction
    2. 7.1 The Central Limit Theorem for Sample Means
    3. 7.2 Using the Central Limit Theorem
    4. 7.3 The Central Limit Theorem for Proportions
    5. 7.4 Finite Population Correction Factor
    6. Key Terms
    7. Chapter Review
    8. Formula Review
    9. Practice
    10. Homework
    11. References
    12. Solutions
  9. 8 Confidence Intervals
    1. Introduction
    2. 8.1 A Confidence Interval for a Population Standard Deviation, Known or Large Sample Size
    3. 8.2 A Confidence Interval for a Population Standard Deviation Unknown, Small Sample Case
    4. 8.3 A Confidence Interval for A Population Proportion
    5. 8.4 Calculating the Sample Size n: Continuous and Binary Random Variables
    6. Key Terms
    7. Chapter Review
    8. Formula Review
    9. Practice
    10. Homework
    11. References
    12. Solutions
  10. 9 Hypothesis Testing with One Sample
    1. Introduction
    2. 9.1 Null and Alternative Hypotheses
    3. 9.2 Outcomes and the Type I and Type II Errors
    4. 9.3 Distribution Needed for Hypothesis Testing
    5. 9.4 Full Hypothesis Test Examples
    6. Key Terms
    7. Chapter Review
    8. Formula Review
    9. Practice
    10. Homework
    11. References
    12. Solutions
  11. 10 Hypothesis Testing with Two Samples
    1. Introduction
    2. 10.1 Comparing Two Independent Population Means
    3. 10.2 Cohen's Standards for Small, Medium, and Large Effect Sizes
    4. 10.3 Test for Differences in Means: Assuming Equal Population Variances
    5. 10.4 Comparing Two Independent Population Proportions
    6. 10.5 Two Population Means with Known Standard Deviations
    7. 10.6 Matched or Paired Samples
    8. Key Terms
    9. Chapter Review
    10. Formula Review
    11. Practice
    12. Homework
    13. Bringing It Together: Homework
    14. References
    15. Solutions
  12. 11 The Chi-Square Distribution
    1. Introduction
    2. 11.1 Facts About the Chi-Square Distribution
    3. 11.2 Test of a Single Variance
    4. 11.3 Goodness-of-Fit Test
    5. 11.4 Test of Independence
    6. 11.5 Test for Homogeneity
    7. 11.6 Comparison of the Chi-Square Tests
    8. Key Terms
    9. Chapter Review
    10. Formula Review
    11. Practice
    12. Homework
    13. Bringing It Together: Homework
    14. References
    15. Solutions
  13. 12 F Distribution and One-Way ANOVA
    1. Introduction
    2. 12.1 Test of Two Variances
    3. 12.2 One-Way ANOVA
    4. 12.3 The F Distribution and the F-Ratio
    5. 12.4 Facts About the F Distribution
    6. Key Terms
    7. Chapter Review
    8. Formula Review
    9. Practice
    10. Homework
    11. References
    12. Solutions
  14. 13 Linear Regression and Correlation
    1. Introduction
    2. 13.1 The Correlation Coefficient r
    3. 13.2 Testing the Significance of the Correlation Coefficient
    4. 13.3 Linear Equations
    5. 13.4 The Regression Equation
    6. 13.5 Interpretation of Regression Coefficients: Elasticity and Logarithmic Transformation
    7. 13.6 Predicting with a Regression Equation
    8. 13.7 How to Use Microsoft Excel® for Regression Analysis
    9. Key Terms
    10. Chapter Review
    11. Practice
    12. Solutions
  15. A | Statistical Tables
  16. B | Mathematical Phrases, Symbols, and Formulas
  17. Index
2.
  1. all children who take ski or snowboard lessons
  2. a group of these children
  3. the population mean age of children who take their first snowboard lesson
  4. the sample mean age of children who take their first snowboard lesson
  5. X = the age of one child who takes his or her first ski or snowboard lesson
  6. values for X, such as 3, 7, and so on
4.
  1. the clients of the insurance companies
  2. a group of the clients
  3. the mean health costs of the clients
  4. the mean health costs of the sample
  5. X = the health costs of one client
  6. values for X, such as 34, 9, 82, and so on
6.
  1. all the clients of this counselor
  2. a group of clients of this marriage counselor
  3. the proportion of all her clients who stay married
  4. the proportion of the sample of the counselor’s clients who stay married
  5. X = the number of couples who stay married
  6. yes, no
8.
  1. all people (maybe in a certain geographic area, such as the United States)
  2. a group of the people
  3. the proportion of all people who will buy the product
  4. the proportion of the sample who will buy the product
  5. X = the number of people who will buy it
  6. buy, not buy
10.

a

12.

quantitative discrete, 150

14.

qualitative, Oakland A’s

16.

quantitative discrete, 11,234 students

18.

qualitative, Crest

20.

quantitative continuous, 47.3 years

22.

b

24.
  1. The survey was conducted using six similar flights.
    The survey would not be a true representation of the entire population of air travelers.
    Conducting the survey on a holiday weekend will not produce representative results.
  2. Conduct the survey during different times of the year.
    Conduct the survey using flights to and from various locations.
    Conduct the survey on different days of the week.
26.

Answers will vary. Sample Answer: You could use a systematic sampling method. Stop the tenth person as they leave one of the buildings on campus at 9:50 in the morning. Then stop the tenth person as they leave a different building on campus at 1:50 in the afternoon.

28.

Answers will vary. Sample Answer: Many people will not respond to mail surveys. If they do respond to the surveys, you can’t be sure who is responding. In addition, mailing lists can be incomplete.

30.

b

32.

convenience cluster stratified systematic simple random

34.
  1. qualitative(categorical)
  2. quantitative discrete
  3. quantitative discrete
  4. qualitative(categorical)
36.

Causality: The fact that two variables are related does not guarantee that one variable is influencing the other. We cannot assume that crime rate impacts education level or that education level impacts crime rate.

Confounding: There are many factors that define a community other than education level and crime rate. Communities with high crime rates and high education levels may have other lurking variables that distinguish them from communities with lower crime rates and lower education levels. Because we cannot isolate these variables of interest, we cannot draw valid conclusions about the connection between education and crime. Possible lurking variables include police expenditures, unemployment levels, region, average age, and size.

38.
  1. Possible reasons: increased use of caller id, decreased use of landlines, increased use of private numbers, voice mail, privacy managers, hectic nature of personal schedules, decreased willingness to be interviewed
  2. When a large number of people refuse to participate, then the sample may not have the same characteristics of the population. Perhaps the majority of people willing to participate are doing so because they feel strongly about the subject of the survey.
40.

  1. # flossing per week Frequency Relative frequency Cumulative relative frequency
    0 27 0.4500 0.4500
    1 18 0.3000 0.7500
    3 11 0.1833 0.9333
    6 3 0.0500 0.9833
    7 1 0.0167 1
    Table 1.19
  2. 5.00%
  3. 93.33%
42.

The sum of the travel times is 1,173.1. Divide the sum by 50 to calculate the mean value: 23.462. Because each state’s travel time was measured to the nearest tenth, round this calculation to the nearest hundredth: 23.46.

44.

b

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