Solution Manual for Business Statistics 3rd Edition by Jaggia
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Solution Manual for Business Statistics 3rd Edition by Jaggia
Chapter 01 – Statistics and Data
1-1
Solution Manual for Business Statistics © 2019 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any
manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
Chapter 1. Statistics and Data
Solutions
1.
a. The population is all iPhone 4 users.
b. Sample statistics
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 marketing managers.
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 the sample statistics.
Chapter 01 – Statistics and Data
1-2
© 2019 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any
manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
6.
Date Adj. Close Price
1/4/2016 27.99
2/1/2016 28.26
3/1/2016 30.83
4/1/2016 29.82
5/2/2016 29.31
6/1/2016 30.76
7/1/2016 30.43
8/1/2016 30.52
9/1/2016 29.17
10/3/2016 28.65
11/1/2016 30.29
12/1/2016 31.35
Source: Monthly Adj Close Price in 2016 from http://www.finance.yahoo.com.
Retrieved March 19, 2017.
These numbers represent time series data. The adjusted close price of the stock grew
over this 12-month period, ranging from a low of $27.99 in January and increasing to
$31.35 by December.
7.
Note: Individual answers will vary. This is an example of what an answer may
look like.
Accommodation Monthly
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
Chapter 01 – Statistics and Data
1-3
© 2019 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any
manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.
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.
8. Note: The data for this website changes regularly. Therefore, individual answers
will differ depending on the date the data is retrieved. This is an example of what
the table may look like:
Homes Price Number of
Beds Square Feet Built
1 $374,900.00 3 3073 2004
2 $112,000.00 4 1788 2005
3 $190,000.00 3 1467 2009
4 $160,000.00 4 1891 2000
5 $30,000.00 3 1026 1977
6 $317,000.00 4 3465 2004
7 $62,000.00 3 1362 1973
8 $120,000.00 3 2005 2002
9 $289,324.00 3 1705 2008
10 $355,000.00 4 3648 2001
11 $65,000.00 2 1296 1976
12 $33,000.00 4 1696 1987
13 $110,000.00 3 1376 2000
14 $310,000.00 5 3716 2001
15 $75,000.00 3 1230 2004
16 $60,000.00 3 1285 2004
17 $140,000.00 4 2217 2003
18 $178,000.00 4 1967 1998
19 $226,000.00 1 533 2006
20 $128,000.00 3 1483 2006
Source: http://zillow.com/; Retrieved August 20, 2012.
The data above is cross-sectional data. The data represents characteristics of
homes sold at approximately the same time of the year.
9.
DATE GPSAVE
Q1.2012 3631.8
Q2.2012 3667.5
Q3.2012 3653.8
Q4.2012 3750.2
Q1.2013 3417.8
Q2.2013 3252.1
Chapter 01 – Statistics and Data
1-4
The Morningstar’s based rating system is measured on an ordinal scale. The
values can be ranked and categorized but the differences between ranks are
meaningless. The data shows that 25 of the 30 (approximately 83%) of the
companies have a two or three-star rating. Only 5 of the 30 companies have
a four-star rating. None of the companies has a one-star or a five-star rating.
c. The Stock Price data is measured on a ratio scale. This type of scale is the
strongest form of measurement. There is a true zero point which allows for
the calculation of meaningful ratios between values.
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| Description | Edition: 3rd Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant Download | Edition: 17th Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant Download | Edition: 12th Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant Download | Edition: 4th Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant Download | By: Anderson Edition: 14th Edition Format: Downloadable ZIP Fille Resource Type: Solution Manual Duration: Unlimited downloads Delivery: Instant Download | Edition: 3rd Edition Format: Downloadable ZIP Fille Resource Type: Solution manual Duration: Unlimited downloads Delivery: Instant Download | ||||||||||||
| Content | Solution Manual for Business Statistics 3rd Edition by JaggiaChapter 01 - Statistics and Data 1-1 Solution Manual for Business Statistics © 2019 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Chapter 1. Statistics and Data Solutions 1. a. The population is all iPhone 4 users. b. Sample statistics 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 marketing managers. 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 the sample statistics. Chapter 01 - Statistics and Data 1-2 © 2019 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 6. Date Adj. Close Price 1/4/2016 27.99 2/1/2016 28.26 3/1/2016 30.83 4/1/2016 29.82 5/2/2016 29.31 6/1/2016 30.76 7/1/2016 30.43 8/1/2016 30.52 9/1/2016 29.17 10/3/2016 28.65 11/1/2016 30.29 12/1/2016 31.35 Source: Monthly Adj Close Price in 2016 from http://www.finance.yahoo.com. Retrieved March 19, 2017. These numbers represent time series data. The adjusted close price of the stock grew over this 12-month period, ranging from a low of $27.99 in January and increasing to $31.35 by December. 7. Note: Individual answers will vary. This is an example of what an answer may look like. Accommodation Monthly 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 Chapter 01 - Statistics and Data 1-3 © 2019 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 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. 8. Note: The data for this website changes regularly. Therefore, individual answers will differ depending on the date the data is retrieved. This is an example of what the table may look like: Homes Price Number of Beds Square Feet Built 1 $374,900.00 3 3073 2004 2 $112,000.00 4 1788 2005 3 $190,000.00 3 1467 2009 4 $160,000.00 4 1891 2000 5 $30,000.00 3 1026 1977 6 $317,000.00 4 3465 2004 7 $62,000.00 3 1362 1973 8 $120,000.00 3 2005 2002 9 $289,324.00 3 1705 2008 10 $355,000.00 4 3648 2001 11 $65,000.00 2 1296 1976 12 $33,000.00 4 1696 1987 13 $110,000.00 3 1376 2000 14 $310,000.00 5 3716 2001 15 $75,000.00 3 1230 2004 16 $60,000.00 3 1285 2004 17 $140,000.00 4 2217 2003 18 $178,000.00 4 1967 1998 19 $226,000.00 1 533 2006 20 $128,000.00 3 1483 2006 Source: http://zillow.com/; Retrieved August 20, 2012. The data above is cross-sectional data. The data represents characteristics of homes sold at approximately the same time of the year. 9. DATE GPSAVE Q1.2012 3631.8 Q2.2012 3667.5 Q3.2012 3653.8 Q4.2012 3750.2 Q1.2013 3417.8 Q2.2013 3252.1 Chapter 01 - Statistics and Data 1-4 The Morningstar’s based rating system is measured on an ordinal scale. The values can be ranked and categorized but the differences between ranks are meaningless. The data shows that 25 of the 30 (approximately 83%) of the companies have a two or three-star rating. Only 5 of the 30 companies have a four-star rating. None of the companies has a one-star or a five-star rating. c. The Stock Price data is measured on a ratio scale. This type of scale is the strongest form of measurement. There is a true zero point which allows for the calculation of meaningful ratios between values. | Solution Manual for Statistical Techniques in Business and Economics, 17th EditionStatistical Techniques in Business Other ISBNs of this Book: Statistical Techniques in Business and EconomicsISBN10: 1259924084 | ISBN13: 9781259924088 Statistical Techniques in Business and EconomicsISBN10: 1260152642 | ISBN13: 9781260152647 Statistical Techniques in Business and EconomicsISBN10: 1260044750 | ISBN13: 9781260044751 Contents 1. What Is Statistics? 2. Describing Data: Frequency Tables, Frequency Distributions, and Graphic Presentation 3. Describing Data: Numerical Measures 4. Describing Data: Displaying and Exploring Data 5. A Survey of Probability Concepts 6. Discrete Probability Distributions 7. Continuous Probability Distributions 8. Sampling Methods and the Central Limit Theorem 9. Estimation and Confidence Intervals 10. One-Sample Tests of Hypothesis 11. Two-Sample Tests of Hypothesis 12. Analysis of Variance 13. Correlation and Linear Regression 14. Multiple Regression Analysis 15. Nonparametric Methods: Nominal Level Hypothesis Tests 16. Nonparametric Methods: Analysis of Ordinal Data 17. Index Numbers 18. Time Series and Forecasting 19. Statistical Process Control and Quality Management 20. An Introduction to Decision Theory | Solution Manual for Business Research Methods 12th Edition by CooperResearch refers to the outcome of human desire to investigate and deeper understanding of existing phenomena or find out the possibility of occurrence of a new phenomenon. Research is the starting point in any discipline. It is the key to the success and growth of any discipline.
Research refers to the process of defining the research problem and collecting, organizing, evaluating and interpretation of data and making a conclusion to solve the research problem. Therefore, business research refers to the process of identifying the opportunities and threats in the market and analyzing the strengths and weakness of the company to fulfill the requirements of the market and to compete. An example of business research is studying the buying behavior of North USA population who are below 30 years. Such a research will be helpful for a business to sell their goods/products effectively. Hence a business research is useful.
There should be any questions about the business research because the definition helps to guide the researcher on the path of his research and the purpose of his research. It is important because there are many definitions of research which guides or fulfill different purposes of research.
A GEM of a Study
Abstract: The Global Entrepreneurship Monitor Entrepreneurial Assessment, a joint project of The Kauffman Center for Entrepreneurial Leadership at Babson College (now Arthur M. Blank Center for Entrepreneurship) and The London Business School, has undertaken a long-term, large-scale project to prove the causal links between a government’s economic policies and initiatives, the resulting entrepreneurial activity and subsequent economic growth. This case describes multiple-stage research, including thousands of interviews in several countries by established research firms.
How/When to Use
This case deals with the concept of causal studies vs. descriptive studies and what needs to be included in the research design of each study type. It also deals with what constitutes control in research design; in this context it is best used with chapters 5 and chapter 6 although it may be used with chapters 6-9. This is also a great case to use to discuss constructs vs. concepts (Chapter 3), as Exhibit C-GEM-1.1 clearly has struggled with defining numerous constructs and multiple-measurement variables and, therefore, could be used to further explore text Exhibit 3-1. The case also mentions the use of standardized data; in this context you could use the case to explore how “standardized” data from different countries really is and where the student seeks such country-specific data.
| Solution Manual for The Practice of Statistics for Business and Economics 4th Edition by MooreChapter 1: Examining Distributions Practice of Statistics for Business and Economics 1.1 The value of the coupon is computed by subtracting the DiscPrice from the RegPrice. It is quantitative because arithmetic operations, like the average value, would make sense. 1.2 The regular price for the Smokey Grill Ribs coupon is 20, the discount price is 11. 1.3 Who: The cases are coupons, there are 7 cases. What: There are 6 variables—ID, Type, Name, Item, RegPrice, and DiscPrice. Only RegPrice and DiscPrice have units in dollars. Why: The data might be used to compare coupons to one another to see which are better. We would not want to draw conclusions about other coupons not listed. 1.4 The cases are apartments. There are 5 variables: Monthly rent-quantitative, Fitness center-categorical, Pets allowed-categorical, # of Bedrooms-quantitative, Distance to campus-quantitative. 1.5 (a) If you were interested in attending a large college, you would want to know the number of graduates. (b) If you were interested in making sure you graduate, you would want to know the graduation rate. 1.6 (a) The cases are summer jobs. (b) Variables might include: position, company, hourly wage, whether the job is on or off campus, hours per week, other answers are possible. (c) position—categorical, company-categorical, hourly wage-quantitative, on or off campus-categorical, hours per weekquantitative, other answers are possible. (d) We could use a number as a label. The reason for doing so is there could be several jobs with the same company or position that you would need to differentiate from one another. (e) Who: part (a) answer, What: part (b) and (c), Why: To compile a list of available summer jobs and possibly compare them. We would not want to draw conclusions about other jobs not listed. 1.7 (a) The cases are employees. (b) Employee identification number—label, last name—label, first name—label, middle initial—label, department—categorical, number of years—quantitative, salary— quantitative, education—categorical, age—quantitative. (c) Sample data would vary. 1.8 Answers will vary. 1.9 (a) Quantitative. (b) Quantitative. (c) Quantitative. (d) Quantitative. (e) Categorical. (f) Categorical. For all quantitative variables, numerical summaries would be meaningful; for categorical variables, numerical summaries are NOT meaningful. 2 Chapter 1 Examining Distributions 1.10 Answers will vary. 1. Rate the customer service of the restaurant—quantitative 2. Is this your first visit to our restaurant—categorical 3. If not, how many times per month do you visit our restaurant— quantitative 4. Would you recommend our restaurant to a friend—categorical 5. Do you think our dish prices are expensive, about right, inexpensive—categorical 6. Rate the taste quality of food you ate today—quantitative. For all quantitative variables numerical summaries would be meaningful, for categorical variables, numerical summaries are NOT meaningful. 1.11 Answers will vary. 1. How many hours per week do you study—quantitative, hours 2. How many nights per week do you study usually—quantitative, nights 3. Do you usually study alone or with others—categorical 3. Do you feel like you study too much, about right, not enough—categorical. 1.12 Answers and reasons will vary. Examples include: current enrollment, average time to graduate, graduation rate, job placement percentage, etc. 1.13 (a) The states are the cases. (b) The name of the state is the label variable. (c) Number of students from the state who attend college—quantitative, number of students who attend college in their home state—quantitative. (d) Answers will vary. This would tell you which states have large percentages of students that like to stay “at home” versus small percentages, which indicate students’ preference to leave home to attend college. 1.14 Each state could be divided as a percentage of the total of the nation’s fatalities to show state differences; the disadvantage is that states with more population would have a higher number of fatalities. Instead, each state’s fatalities could be divided by the state population to get a percentage for each state; this would be a better way to compare state-to-state rates of drunk driving fatalities. 1.15 Answers may vary. The pie chart does a better job because it shows the dominance of Google as a source, filling almost three-quarters of the pie. 1.16 Answers may vary. It is probably a good idea to round; most of the time we just need an idea of what the data are telling us. 1.17 The Cost Centers would include, Parts and materials, Manufacturing equipment, Salaries, Maintenance, and Office lease. We need to include Office lease even though it gives more than 80%, because otherwise we would only have the top 75% according to the data. So, to get the other 5%, we need to put Office lease in, giving us 82.12% total. | Solution Manual for Statistics for Business and Economics 14th Edition by AndersonChapter 1 Data and Statistics Learning Objectives
| Solution Manual for Business Statistics 9th Edition by BlackCatch up on homework in no time with this indispensable solution manual. It’s filled with answers to questions at the end of chapters, problems, case studies, and more directly from your textbook. Download NOW to get INSTANT access to this digital solution manual. Study the way that’s right for you on your phone, laptop, tablet, or any other digital device immediately. There’s no mailing or shipping. No waiting days or weeks to receive this priceless information. Buy and download immediately to get your homework done on time and to absolutely master key concepts for class discussions and exams. Our solutions manual has helped thousands of students answer questions flawlessly at the end of each chapter. It’s like having your own private instructor to help anywhere, anytime. It’s no wonder why students everywhere are crediting this solution manual for their homework improvement, better overall understanding, and boosted test scores. When you study alone, you might get the answers wrong and learn facts and concepts incorrectly. Often, students develop a gap in knowledge that can spread to homework and tests. This can cause lower grades, despite your hard work throughout the semester. Now you have the custom assistance you deserve. This solution manual was created by experts with thorough knowledge of every end-of-chapter question and its answers. Still now sure? Download our FREE Sample to get an inside look at the helpful information included in this solution manual. The sample is fully digital so you can view it immediately on your laptop, tablet, phone, or computer. This is the most convenient way to study—and it’s available right now. This solution manual * is great for finishing homework quickly. It’s ideal for busy students who need a proven, accurate way to correctly answer questions in the textbook. * provides additional resources so you can master the concepts presented in all chapters with ease. * is like having your own expert tutor close by to help you earn better grades and complete work faster. Buy and download NOW! Get busy studying and get your homework done, the correct and fast way. | ||||||||||||
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