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solutions manual Basic Statistics for Business & Economics, 7th Canadian Edition by Douglas Lind, ISBN13: 9781260326963. CA$36.29   Add to cart
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solutions manual Basic Statistics for Business & Economics, 7th Canadian Edition by Douglas Lind, ISBN13: 9781260326963.
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Solutions Manual for Basic Statistics for Business & Economics, 7th Canadian Edition by Douglas Lind, William Marchal, Samuel Wathen, Carol Ann Wait, Kevin Murphy. 7ce solutionsl for Basic Statistics for Business & Economics by lind

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  • January 21, 2024
  • 261
  • 2022/2023
  • Exam (elaborations)
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SOLUTIONS MANUAL Basic Statistics for Business & Economics
7th Canadian Edition by Douglas Lind
CHAPTER 1
WHAT IS STATISTICS?
1. a. Interval
b. Ratio
c. Ratio
d. Nominal
e. Ordinal
f. Ratio
g. Nominal
h. Ordinal
i. Nominal
j. Ratio (LO1-5)

2. a. Ratio
b. Ratio
c. Ratio
d. Ratio
e. Ratio
f. Ratio (LO1-5)

3. Answers will vary (LO1-6)

4. a. Sample
b. Population
c. Population
d. Sample (LO1-3)

5. Qualitative data are not numerical, whereas quantitative data are numerical. Examples
will vary by student. (LO1-4)

6. A population is the entire group which you are studying. A sample is a subset taken from
a population. (LO1-3)

7. Discrete variables can assume only certain values, whereas continuous variables can
assume any value within a specific range. Examples will vary. (LO1-4)

8. The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction
is ordinal level. (LO1-5)

9. If you were using one store as typical of all of the stores selling electronic book readers in
the mall then it would be sample data. However, if you were considering all of the stores
selling electronic book readers in the mall, then the data would be population data.
(LO1-3)

10. Based on these findings, we can infer that 270/300 or 90 percent of the executives would
move. (LO1-3)




-1- Chapter 1

,11. If you were using this store as typical of all Best Buy stores, then the daily number sold
last month would be a sample. However, if you considered the store as the only store of
interest, then the daily number sold last month would be a population. (LO1-3)

12. The clear majority of customers surveyed (400/500, or 80%) believe the take-out service
is excellent. Based on this finding, we can expect a similar proportion of all customers to
feel the same way. (LO1-3)

13. a This year total sales = 1 000 772; last year total sales = 942 973; total sales
increased about 6% from last year to this year.
b. Increases: Hockey Men’s Finals by 19.9% and Hockey Women’s by 23.5%.
It appears that there has been a significant shift within the market from last year
to this year. (LO1-3)

14. a. qualitative (LO1-4)
b. nominal (LO1-5)

15. a. quantitative (LO1-4)
b. discrete (LO1-4)
c. interval (LO1-5)

16. a. quantitative (LO1-4)
b. discrete (LO1-4)
c. ratio (LO1-5)

17. a. quantitative (LO1-4)
b. discrete (LO1-4)
c. ratio (LO1-5)

18. sample (LO1-3)

19. a. quantitative (LO1-4)
b. continuous (LO1-4)
c. ratio (LO1-5)

20. population (LO1-3)

21. sample (LO1-3)

22. a. qualitative (LO1-4)
b. nominal (LO1-5)

23. a. qualitative (LO1-4)
b. nominal (LO1-5)

24. a. A sample is used because it is difficult to locate every student.
b. A population is employed because the information is easy to find.
c. A population is used because the information is easy to find.
d. A sample works because it is difficult to locate every musical. (LO1-3)




-2- Chapter 1

,25. a. discrete, quantitative, ratio
b. discrete, qualitative, nominal
c. discrete, quantitative, ratio
d. discrete, qualitative, nominal
e. continuous, quantitative, interval
f. continuous, quantitative, interval
g. discrete, qualitative, ordinal
h. discrete, qualitative, ordinal
i. discrete, quantitative, ratio (LO1-4 & 1-5)

26. a. Qualitative: Company, Industry, Established, Public, Parent, Physical rating,
Cafeteria, and on site fitness
Quantitative: Full time, Part time, % Contract, and Starting vacation (LO1-4)
b. Nominal: Company, Industry, Established, Public, Parent, Cafeteria, on-site
fitness
Ordinal: Physical rating
Ratio: Full time, Part time, % Contract, and Starting vacation (LO1-5)

27 a. Qualitative: region
Quantitative: average house prices (LO1-4)
b. Nominal: region
Ratio: average house prices (LO1-5)

28. a. Qualitative: Team name, Country, Star power.
Quantitative: FMV worth, Revenue, Temperature, Total Snow, Average
Attendance, Post season, Appearance in the cup, Cup wins, 2019/2020 season
points (LO1-4)
b. Nominal: Team name, Country
Ordinal: Star power
Interval: Temperature
Ratio: FMV worth, Revenue Total Snow, Average attendance, Post Season,
Appearances in the Cup, Cup wins, 2019/2020 Points. (LO1-5)




-3- Chapter 1

, CHAPTER 2
DESCRIBING DATA: FREQUENCY DISTRIBUTIONS AND GRAPHIC PRESENTATION


1. Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancell Electric
& Plumbing and Mizelle Roofing & Sheet Metals are the two corporations with the least amount
of fourth quarter sales.




Maxwell has the highest sales, and Mizelle the lowest. (LO2-2)

2. Three classes are needed, one for each player. (LO2-1)

3. There are four classes: winter, spring, summer, and fall.
The relative frequencies are 0.1, 0.3, 0.4, and 0.2, respectively. (LO2-1)




1 Chapter 2

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