100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
SOLUTION MANUAL FOR Essentials of Statistics for Business & Economics 9th Edition by David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran R262,57   Add to cart
Quickly navigate to
Preview
  2.  
  3. Essentials Of Statistics For Business & Economics
  4.  
  5. Essentials of Statistics for Business & Economics

Exam (elaborations)

SOLUTION MANUAL FOR Essentials of Statistics for Business & Economics 9th Edition by David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
 8 views  0 purchase
  • Course
  • Essentials of Statistics for Business & Economics
  • Institution
  • Essentials Of Statistics For Business & Economics
  • Book
  • Essentials of Statistics for Business & Economics

study dealing with the collection, analysis, presentation and interpretation of data. 2.  a. The 10 elements are the 10 tablet computers b. Five variables: Cost ($), Operating System, Display Size (inches), Battery Life (hours), and CPU Manufacturer c Categorical variables: Operating System...

[Show more]

Preview 4 out of 818  pages

Document information

  • September 4, 2024
  • 818
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • study dealing with the collection analysis prese

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

Written for

  • Essentials of Statistics for Business & Economics
All documents for this subject (9)

Seller

avatar-seller
NurseAdvocate

Reviews received

Content preview

SOLUTION MANUAL FOR
Essentials of Statistics for Business & Economics 9th Edition by David R.
Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm,
James J. Cochran

Chapter 1

Data and Statistics


Learning Objectives

1. Obtain an appreciation for the breadth of statistical applications in business and

economics.

2. Understand the meaning of the terms elements, variables, and observations as they are

used in statistics.

3. Obtain an understanding of the difference between categorical, quantitative, cross-

sectional, and time-series data.

4. Learn about the sources of data for statistical analysis both internal and external to the

firm.

5. Be aware of how errors can arise in data.

6. Know the meaning of descriptive statistics and statistical inference.

7. Be able to distinguish between a population and a sample.

8. Understand the role a sample plays in making statistical inferences about the population.

9. Know the meaning of the term data mining.

10. Be aware of ethical guidelines for statistical practice.


Solutions:

1. Statistics can be referred to as numerical facts. In a broader sense, statistics is the field of


© 2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

, study dealing with the collection, analysis, presentation and interpretation of data.

2. a. The 10 elements are the 10 tablet computers

b. Five variables: Cost ($), Operating System, Display Size (inches), Battery Life

(hours), and CPU Manufacturer

c Categorical variables: Operating System and CPU Manufacturer

Quantitative variables: Cost ($), Display Size (inches), and Battery Life (hours)

d.

Variable Measurement Scale

Cost ($) Ratio

Operating system Nominal

Display size (inches) Ratio

Battery life (hours) Ratio

CPU manufacturer Nominal

3. a. Average cost = 5829/10 = $582.90

b. Average cost with a Windows operating system = 3616/5 = $723.20

Average cost with an Android operating system = 1,714/4 = $428.5

The average cost with a Windows operating system is much higher.

c. Ten of 10 or 20% use a CPU manufactured by TI OMAP

d. Four of 10 or 40% use an Android operating system

4. a. There are eight elements in this data set; each element corresponds to one of the eight

models of cordless telephones.

b. Categorical variables: Voice Quality and Handset on Base



© 2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

, Quantitative variables: Price, Overall Score, and Talk Time

c. Price: ratio measurement

Overall score: interval measurement

Voice quality: ordinal measurement

Handset on base: nominal measurement

Talk time: ratio measurement

5. a. Average price = 545/8 = $68.13

b. Average talk time = 71/8 = 8.875 hours

c. Percentage rated Excellent: 2 of 8, 2/8 = .25, or 25%

6. a. Categorical

b. Quantitative

c. Categorical

d. Quantitative

e. Quantitative

7. a. Because there are five choices, the response is a categorical response.

b. The five responses are the labels for the customer responses. A nominal scale is being

used.

8. a. 762

b. Categorical

c. Percentages

d. .67(762) = 510.54

510 or 511 respondents said they want the amendment to pass.

9. a. The population is employed individuals in the United States aged 25–29.




© 2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

, b. Have you earned a bachelor’s degree (or higher)?

c. Because the response is yes or no, the response is categorical.

10. a. Categorical

b. Percentages

c. 44 of 1080 respondents, approximately 4%, strongly agree with allowing drivers of

motor vehicles to talk on a hand-held cell phone while driving.

d. 165 of the 1,080 respondents or 15% of said they somewhat disagree and 741 or 69%

said they strongly disagree. Thus, there does not appear to be general support for

allowing drivers of motor vehicles to talk on a hand-held cell phone while driving.

11. a. Since these are years, categorical.

b. .53(1,503) = 796.59 or approximately 797

c. .10(1,503) = 150.3 or approximately 150

12. a. The population is all visitors coming to the state of Hawaii.

b. Because airline flights carry the vast majority of visitors to the state, the use of

questionnaires for passengers during incoming flights is a good way to reach this

population. The questionnaire actually appears on the back of a mandatory plants and

animals declaration form that passengers must complete during the incoming flight. A

large percentage of passengers complete the visitor information questionnaire.

c. Questions 1 and 4 provide quantitative data indicating the number of visits and the

number of days in Hawaii. Questions 2 and 3 provide categorical data indicating the

categories of reason for the trip and where the visitor plans to stay.

13. a. Facebook worldwide advertising revenue.

b. Quantitative




© 2019 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

Quick and easy check-out

You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

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 this summary from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller NurseAdvocate. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy this summary for R262,57. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

67232 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy summaries for 14 years now

Start selling
R262,57
  • (0)
  Buy now