test bank for basic statistics for business and economics 9th edition douglas lind
Written for
Havard University
Questions and Answers
All documents for this subject (35)
Seller
Follow
Stuviaaa
Reviews received
Content preview
TEST BANK FOR
BASIC STATISTICS
FOR BUSINESS
AND ECONOMICS
9TH EDITION
DOUGLAS LIND,
WILLIAM
MARCHAL,
SAMUEL WATHEN
, Chapter 2
Describing Data: Frequency Tables, Frequency Distributions, and
Graphic Presentation
1. Pepsi-Cola has a 25% market share, found by 90/360. (LO2-2)
2. Three classes are needed, one for each player. (LO2-1)
3.
Season Frequency Relative Frequency
Winter 100 0.1
Spring 300 0.3
Summer 400 0.4
Fall 200 0.2
Total 1000 1.0
(LO2-1)
4.
City Frequency Relative Frequency
Indianapolis 100 0.05
St. Louis 450 0.225
Chicago 1300 0.65
Milwaukee 150 0.075
(LO2-1)
5. a. A frequency table.
Color Frequency Relative Frequency
Bright White 130 0.10
Metallic Black 104 0.08
Magnetic lime 325 0.25
Tangerine Orange 455 0.35
Fusion Red 286 0.22
Total 1300 1.00
,b.
500
400
Frequency
300
200
100
0
Favorite Color of Cell Phone Replacement
Cover
, c.
d. Wellstone Inc. should produce 350,000 orange; 250,000 lime; 220,000 red; 100,000 white,
and 80,000 black. These numbers are found by multiplying the relative frequency of each
color by the 1,000,000 production level. (LO2-2)
6. Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancell
electric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with the
least amount of fourth quarter sales. (LO2-2)
Chart of Sales
25000
20000
15000
Sales
10000
5000
0
Hoden J&R Long Bay Mancell Maxwell Mizelle
Corporation
$29 $0
8. 25 = 32< 45 < 64 = 26 suggests 6 classes. i 4.47 Use interval of 5. (LO2-3)
6
567 235
9. 27 = 128< 230 < 256 = 28 suggests 8 classes i 41.5 Use interval of 45. (LO2-3)
8
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Stuviaaa. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
