# Solution Manual for Business Statistics 3rd Edition by Jaggia

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Edition: 3rd Edition

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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.
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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## 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.

## Solution Manual for Statistical Techniques in Business and Economics, 17th Edition

Statistical 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 Cooper

Research 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 Statistics for Business and Economics 14th Edition by Anderson

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 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
1. Average cost with a Windows operating system= 3616/5 = \$723.20 =             cost with an Android operating system = 1,714/4 = \$428.5 The average cost with a Windows operating system is much higher.
2. Ten of 10 or 20% use a CPU manufactured by TI OMAP
3. Four of 10 or 40% use an Android operating system

## Solution Manual for Business Statistics 9th Edition by Black

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