# Solution Manual for Statistics for Business and Economics 14th Edition by Anderson

£21.00

By: Anderson

Edition: 14th Edition

Resource Type: Solution Manual

## 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

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## 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 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 Essentials of Modern Business Statistics with Microsoft Excel 7th Edition by Anderson

Solutions to Case Problems  Chapter 2 Descriptive Statistics: Tabular and Graphical Displays   Case Problem 1: Pelican Stores
1.  Solution Manual for Essentials of Modern Business Statistics  There were 70 Promotional customers and 30 Regular customers  Percent frequency distributions for many of the variables are given.

 No. of Items Percent Frequency 1 29 2 27 3 10 4 10 5 9 6 7 7 or more 8 Total: 100

 Net Sales Percent Frequency 0.00 - 24.99 9 25.00 - 49.99 30 50.00 - 74.99 25 75.00 - 99.99 10 100.00 - 124.99 12 125.00 - 149.99 4 150.00 - 174.99 3 175.00 - 199.99 3 200 or more 4 Total: 100

 Method of Payment Percent Frequency American Express 2 Discover 4 MasterCard 14 Proprietary Card 70 Visa 10 Total: 100

 Gender Percent Frequency Female 93 Male 7 Total: 100

 Martial Status Percent Frequency Married 84 Single 16 Total: 100

 Age Percent Frequency 20 - 29 10 30 - 39 30 40 - 49 33 50 - 59 16 60 - 69 7 70 - 79 4 Total: 100
Solution Manual for Essentials of Modern Business Statistics   These percent frequency distributions provide a profile of Pelican's customers. Many observations are possible, including:
• A large majority of the customers use National Clothing’s proprietary credit card
• The percent frequency distribution of net sales shows that 61% of the customers spent \$50 or more.
• Customers are distributed across all adult age groups.
• The overwhelming majority of customers are female.
• Most of the customers are married.

## 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 Modern Business Statistics with Microsoft Excel 6th Edition by Anderson

Solutions to Case Problems  Chapter 2 Descriptive Statistics: Tabular and Graphical Displays   Case Problem 1: Pelican Stores
1. There were 70 Promotional customers and 30 Regular customers. Percent frequency distributions for many of the variables are given.

 No. of Items Percent Frequency 1 29 2 27 3 10 4 10 5 9 6 7 7 or more 8 Total: 100

 Net Sales Percent Frequency 0.00 - 24.99 9 25.00 - 49.99 30 50.00 - 74.99 25 75.00 - 99.99 10 100.00 - 124.99 12 125.00 - 149.99 4 150.00 - 174.99 3 175.00 - 199.99 3 200 or more 4 Total: 100

 Method of Payment Percent Frequency American Express 2 Discover 4 MasterCard 14 Proprietary Card 70 Visa 10 Total: 100

 Gender Percent Frequency Female 93 Male 7 Total: 100

 Martial Status Percent Frequency Married 84 Single 16 Total: 100
These percent frequency distributions provide a profile of Pelican's customers. Many observations are possible, including:
• A large majority of the customers use National Clothing’s proprietary credit card.
• The percent frequency distribution of net sales shows that 61% of the customers spent \$50 or more.
• Customers are distributed across all adult age groups.
• The overwhelming majority of customers are female.
• Most of the customers are married.
• This is NOT the TEXT BOOK. You are buying Essentials of Modern Business Statistics with Microsoft Excel 6th Edition Solutions Manual by Anderson.
• Solutions Manual comes in a PDF or Word format and available for download only.
• Anderson Essentials of Modern Business Statistics with Microsoft Excel 6th Edition Solutions Manual only NO Test Bank included on this purchase. If you want the Test Bank please search on the search box.
• All orders are placed anonymously. Your purchase details will be hidden according to our website privacy and be deleted automatically.Modern Business Statistics

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