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Solution Manual for Business Statistics 2nd Edition by Jaggia

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Edition: 2nd Edition

Format: Downloadable ZIP Fille

Resource Type: Solution manual

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Solution Manual for Business Statistics 2nd Edition by Jaggia

Chapter 1. Statistics and Data

Solutions

    1. The population is all iPhone 4 users.
    2. Sample statistics

 

  1. 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.

 

    1. The population is all students enrolled in the accounting class.
    2. The value 3.29 represents the population parameter since we are not choosing a sample but drawing results from the actual population.

 

    1. The population is all marketing managers.
    2. No, the average salary is a sample statistic computed from a sample, not the population.

 

    1. The population is all elderly people. The sample consists of 949 elderly people.
    2. 22% and 17% represent the sample statistics.

 

 

DateAdj. Close Price
Dec 10$593.97
Nov 10$555.71
Oct 10$613.70
Sep  10$525.79
Aug 10$450.02
Jul   10$484.85
Jun  10$444.95
May 10$485.63
Apr  10$525.70
Mar 10$567.12
Feb  10$526.80
Jan  10$529.94

Source: Monthly Adj Close Price in 2010 from

Retrieved April 19, 2011.

 

These numbers represent time series data. The adjusted close price of the stock was rather volatile, with a 12-month high in October and 12-month low in June.

 

 

  1. Note: Individual answers will vary. This is an example of what an answer may look like.
AccommodationMonthly Expenses
Dorm$435
Dorm$480
Rental$505
Other$50
Rental$600
Dorm$425
Rental$525
Other$550
Other$325
Dorm$385
Rental$475
Dorm$400
Dorm$485
Rental$485
Other$475
Dorm$425
Rental$500
Dorm$375
Rental$625
Other$350

 

This data is cross-sectional data because it can be assumed to be taken at the same point in time. The monthly lodging expenses ranges from a low of $50 to a high of $625. The average expense is $443.75.

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