Solutions for Basic Statistics for Business & Economics, 7th Canadian Edition Lind (All Chapters included)
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Course
Business Statistics
Institution
Business Statistics
Complete Solutions Manual for Basic Statistics for Business & Economics, 7th Canadian Edition by Douglas Lind, William Marchal, Samuel Wathen, Carol Ann Wait, Kevin Murphy ; ISBN13: 9781260326963. (Full Chapters included Chapter 1 to 17)....
CHAPTER 1: What Is Statistics?.
CHAPTER 2: Describing ...
Basic Statistics for
Business & Economics
7th Canadian Edition
by Douglas Lind
Complete Chapter Solutions Manual
are included (Ch 1 to 17)
** Immediate Download
** Swift Response
** All Chapters included
, 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
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