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Solution Manual for Business Analytics 2nd edition by James R. Evans All Chapters A+
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Solution Manual for Business Analytics 2nd edition by James R. Evans All Chapters A+Solution Manual for Business Analytics 2nd edition by James R. Evans All Chapters A+

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Document information

  • April 13, 2024
  • 899
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • business
  • analytics
  • 2nd edition
  • edition
  • business analytic
  • 9780321997821
  • 2024
  • business analytics 2nd edition

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  • Business Analytics, 2nd Edition
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Chapter 01 – Introduction to Business Analytics




Chapter 1. Introduction to Business
Analytics
Solutions
1.
a. The relevant population consists of all Americans.
b. The estimates for averages are based on sample data.

2. The value 35 is the estimated average age of the population. It is both costly and
time-consuming (likely impossible) to take a census of all video game players and
compute the actual average age.

3.
a. The population is all students enrolled in the accounting class.

b. The value 3.29 represents the population parameter since we are not choosing a
sample but drawing results from the actual population.

4.
a. The population is all recent college graduates with an engineering degree.

b. No, the average salary is a sample statistic computed from a sample, not the
population.

5.
a. The population is all elderly people. The sample consists of 949 elderly people.
b. 22% and 17% represent sample statistics.




1-1
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw Hill LLC.

,Chapter 01 – Introduction to Business Analytics


6. The data are cross-sectional data.
Note: Data will vary due to the nature of sampling.


7. The data are time series data.
Note: Data will vary depending on the date of retrieval. These data were retrieved July
2019.

Date Adj. Close Price
7/1/2018 192.55
8/1/2018 195.72
9/1/2018 202.97
10/1/2018 172.33
11/1/2018 176.68
12/1/2018 169.36
1/1/2019 180.90
2/1/2019 182.49
3/1/2019 189.15
4/1/2019 202.28
5/1/2019 188.53
6/1/2019 206.52


8. The front page of the New York Times website is likely to be textual (written
reports) with multimedia contents (photographs, etc.). The resulting data are
unstructured in that they do not conform to a predefined row-column format.

9. Data on price and fuel economy of small hybrid vehicles can be specified in a
predefined row-column format, and therefore, are structured.
Note: Data will vary due to the nature of sampling.

10. The data for Under Armour’s annual revenue are structured since they are
specified in a well-defined row-column format. The data are time series data.
Note: Data will vary depending on the date of retrieval. These data were retrieved
July 2019.

Annual Revenue
Year
(in $ millions)
2018 $5,193
2017 $4,989
2016 $4,833
2015 $3,963
2014 $3,084
2013 $2,332
2012 $1,835
1-2
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw Hill LLC.

,Chapter 01 – Introduction to Business Analytics


2011 $1,473
2010 $1,064
2009 $856


11. The resulting data about online social media usage have a well-defined row-
column format, and therefore, are structured. The data are cross-sectional data.
Note: Data will vary due to the nature of sampling.

12. The resulting data about living accommodations and expenses have a well-defined
row-column format, and therefore, are structured. The data are cross-sectional data.
Note: Data will vary due to the nature of sampling.

13.

Median Household
State
Income in 2013–2017 ($)
Alabama 46,472
Arizona 53,510
California 67,169
Florida 50,883
Georgia 52,977
Indiana 52,182
Iowa 56,570
Maine 53,024
Massachusetts 74,167
Minnesota 65,699
Mississippi 42,009
New Mexico 46,718
North Dakota 61,285
Washington 66,174
Source: http://www.census.gov/; Retrieved July 1, 2019.


These data are estimates for the period 2013–2017. The data are cross-sectional
data. In this particular group of states, Massachusetts has the highest median
income, whereas Mississippi has the lowest median income. Also, states in the
North such as Massachusetts, Minnesota, and Washington tend to have higher
incomes than Southern states.

14.
a. Numerical; discrete

1-3
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw Hill LLC.

, Chapter 01 – Introduction to Business Analytics


b. Categorical

c. Numerical; continuous

15.
a. Categorical

b. Numerical; continuous

c. Numerical; discrete

16.
a. Nominal

b. Interval

c. Ordinal

17.
a. Ratio

b. Ordinal

c. Nominal

18.
a. Ratio

b. Interval

c. Ratio

19.
a. Nominal scale; the values differ in name.

b.
Major # of Students
Accounting 4
Economics 4
Finance 4

1-4
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of
McGraw Hill LLC.

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