statistics for business and economics

... standard deviation and / or the population proportion Know what simple random sampling is and how simple random samples are selected Understand the concept of a sampling distribution Understand ... random numbers: 601, 022, 448, 147, 229, 553, 147, 289, 209 Numbers greater than 350 not apply and the 147 can only be used once Thus, the simple random sample of four includes 22, 147, 229, and ... 9) 147, and 113 Random numbers used: 13, 8, 27, 23, 25, 18 The second occurrence of the random number 13 is ignored Companies selected: ExxonMobil, Chevron, Travelers, Microsoft, Pfizer, and Intel...

Ngày tải lên: 09/10/2019, 23:11

... and apply formulas for calculating descriptive statistics 29) What would be a reasonable estimate for the 99 th percentile? A) Between 23.2 and 26.3 B) Between 26.3 and 29.4 C) Between 29.4 and ... Statistics for Business and Economics, 8e (Newbold) Chapter Describing Data: Numerical 1) If you are interested in comparing variation in sales for small and large stores selling ... Course LO: Identify and apply formulas for calculating descriptive statistics 2-66 Copyright © 2013 Pearson Education, Inc 283) For a particular sample, the mean is 3.7 and the standard deviation...

Ngày tải lên: 17/11/2017, 16:46

... A Develop a frequency distribution and a bar chart for her grades Develop a relative frequency distribution for her grades and construct a pie chart ANS: a and b Grade A B C Total Frequency 11 ... 100% 25 and more 66.7% 33.3% 100% TOP: Descriptive Statistics 15 For the following observations, plot a scatter diagram and indicate what kind of relationship (if any) exist between x and y x ... between x and y appears to exist PTS: TOP: Descriptive Statistics 16 For the following observations, plot a scatter diagram and indicate what kind of relationship (if any) exist between x and y x...

Ngày tải lên: 17/11/2017, 16:46

... score of 310 and a standard deviation of 50 on a standardized test Find and interpret the z-score of a student who scored 490 on the standardized test Answer: The z-score is z = x-µ For a score ... program, and you have been requested to review the performance of one of the trainees on the final test that was given to all trainees The mean and standard deviation of the test scores are 79 and ... of 15 minutes and a standard deviation of 1.5 minutes You listen to the radio station for hour and observe that the amount of advertising time is minutes Calculate the z-score for this amount...

Ngày tải lên: 17/11/2017, 16:46

... data for a quantitative variable NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Descriptive Statistics KEYWORDS: Bloom's: Understand 66 For stem -and- leaf ... Descriptive Statistics: Tabular/Graphical NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Descriptive Statistics KEYWORDS: Bloom's: Understand A cumulative ... Summarizing data for a quantitative variable NATIONAL STANDARDS: United States - BUSPROG: Analytic STATE STANDARDS: United States - AK - DISC: Descriptive Statistics KEYWORDS: Bloom's: Understand 13 The...

Ngày tải lên: 17/11/2017, 16:46

... modified 2/16/2010 EXCERPTS FROM: Solutions Manual to Accompany Statistics for Business and Economics Eleventh Edition David R Anderson University of Cincinnati Dennis J Sweeney University of ... SOUTH-WESTERN CENGAGE LearningTM Contents Data and Statistics Descriptive Statistics: Tabular and Graphical Methods Descriptive Statistics: Numerical Methods Introduction ... x d Category A values for x are always associated with category values for y Category B values for x are usually associated with category values for y Category C values for x are usually associated...

Ngày tải lên: 06/08/2019, 13:06

... Descriptive? ?Statistics:  Tabular? ?and? ? Graphical Presentations Learning Objectives Learn how to construct? ?and? ?interpret summarization procedures? ?for? ?qualitative data such as:  frequency? ?and? ?relative frequency distributions, bar graphs? ?and? ?pie charts ... frequency? ?and? ?relative frequency distributions, bar graphs? ?and? ?pie charts Learn how to construct? ?and? ?interpret tabular summarization procedures? ?for? ?quantitative data such as: frequency? ?and? ?relative frequency distributions, cumulative frequency? ?and? ?cumulative relative  ... a data distribution is negatively skewed, symmetric,? ?and? ?positively skewed Be able to use? ?and? ?interpret the exploratory data analysis technique of a stem? ?and? ?leaf display Learn how to construct? ?and? ?interpret cross tabulations? ?and? ?scatter diagrams of bivariate data...

Ngày tải lên: 09/10/2019, 23:11

... thousand for new homes and a median sales price decrease of $27.1 thousand for existing homes 10 a b Minimum = 4%; Maximum = 3.5% Σxi = 69 x= Σxi 69 = = 2.3% n 30 Median is average of 15th and ... is 2.5% The mode is 2.7%; forecast by economists c For Q1,  25  th i= ÷30 = 7.5; round up and use the item  100  Q1 = 2.0% For Q3,  75  i= ÷30 = 22.5; round up and use the 23rd item  100 ... within a specified number of standard deviations from the mean Learn how to construct a 5-number summary and a box plot Be able to compute and interpret covariance and correlation as measures of...

Ngày tải lên: 09/10/2019, 23:11

... Obtain an appreciation of the role probability information plays in the decision making process Understand probability as a numerical measure of the likelihood of occurrence Know the three methods commonly used? ?for? ?assigning probabilities? ?and? ?understand when they  ... Know the three methods commonly used? ?for? ?assigning probabilities? ?and? ?understand when they  should be used Know how to use the laws that are available? ?for? ?computing the probabilities of events Understand how new information can be used to revise initial (prior) probability estimates using  ... Let F denote the event that a student who applies? ?for? ?early admission is deferred? ?and? ?later admitted  during the regular admission process 1033  4349 2375 Events E? ?and? ?F are mutually exclusive? ?and? ?the addition law applies...

Ngày tải lên: 09/10/2019, 23:11

... Objectives Understand the concepts of a random variable and a probability distribution Be able to distinguish between discrete and continuous random variables Be able to compute and interpret the ... value, variance, and standard deviation for a discrete random variable Be able to compute and work with probabilities involving a binomial probability distribution Be able to compute and work with ... c For this one p = 70 and (1-p) = 30, but the answer is the same as in part (b) For a binomial probability distribution, the variance for the number of successes is the same as the variance for...

Ngày tải lên: 09/10/2019, 23:11

... Learning Objectives Understand the difference between how probabilities are computed? ?for? ?discrete? ?and? ?continuous  random variables Know how to compute probability values? ?for? ?a continuous uniform probability distribution? ?and? ?be  ... Know how to compute probability values? ?for? ?a continuous uniform probability distribution? ?and? ?be  able to compute the expected value? ?and? ?variance? ?for? ?such a distribution Be able to compute probabilities using a normal probability distribution.  Understand the role of the  standard normal distribution in this process ... Be able to compute probabilities using an exponential probability distribution Understand the relationship between the Poisson? ?and? ?exponential probability distributions 6 ­ 1 © 2010 Cengage Learning All...

Ngày tải lên: 09/10/2019, 23:11

... Know how to construct? ?and? ?interpret an interval estimate of a population mean? ?and? ?/ or a population  proportion Understand? ?and? ?be able to compute the margin of error Learn about the t distribution? ?and? ?its use in constructing an interval estimate when ... Learn about the t distribution? ?and? ?its use in constructing an interval estimate when  is unknown? ?for? ? a population mean Be able to determine the size of a simple random sample necessary to estimate a population mean  and/ or a population proportion with a specified margin of error ... confidence, the population mean flying time for Continental pilots is between 47.31 and 50.69 hours per month This is clearly more flying time than the 36 hours for United pilots With the greater flying...

Ngày tải lên: 09/10/2019, 23:11

... Tests of Goodness of Fit? ?and Independence Learning Objectives 1.  Know how to conduct a goodness of fit test Know how to use sample data to test? ?for? ?independence of two variables Understand the role of the chi­square distribution in conducting tests of goodness of fit? ?and? ? ... Understand the role of the chi­square distribution in conducting tests of goodness of fit? ?and? ? independence Be able to conduct a goodness of fit test? ?for? ?cases where the population is hypothesized to have  either a multinomial, a Poisson, or a normal distribution For? ?a test of independence, be able to set up a contingency table, determine the observed? ?and? ?expected  ... Tests of Goodness of Fit? ?and? ?Independence p­value  .05, reject H0. Conclude that the job satisfaction? ?for? ?computer programmers is different than  the job satisfaction? ?for? ?IS managers 31 Expected...

Ngày tải lên: 09/10/2019, 23:11

... Be able to determine how good a fit is provided by the estimated regression equation? ?and? ?compute  the sample correlation coefficient from the regression analysis output Understand the assumptions necessary? ?for? ?statistical inference? ?and? ?be able to test? ?for? ?a significant  ... scatter diagram does indicate potential outliers and/ or influential observations For example, the data for the Washington Redskins, New England Patriots, and the Dallas Cowboys not only have the three ... There appears to be a positive relationship between price? ?and? ?rating. The sign that says “Quality:  You Get What You Pay? ?For? ?? does fairly reflect the price­quality relationship? ?for? ?ellipticals c Let x = price ($)? ?and? ?y = rating x...

Ngày tải lên: 09/10/2019, 23:11

... Learn how the general linear model can be used to model problems involving curvilinear  relationships Understand the concept of interaction? ?and? ?how it can be accounted? ?for? ?in the general linear model Understand how an F test can be used to determine when to add or delete one or more variables ... Develop an appreciation? ?for? ?the complexities involved in solving larger regression analysis  problems Understand how variable selection procedures can be used to choose a set of independent variables  for? ?an estimated regression equation ... for? ?an estimated regression equation Learn how analysis of variance? ?and? ?experimental design problems can be analyzed using a regression model Know how the Durbin­Watson test can be used to test? ?for? ?autocorrelation 16 - © 2010 Cengage...

Ngày tải lên: 09/10/2019, 23:11

... flights for the two years Median percentage of on-time flights was better in 2006 15 H0: Median time for Service - Median time for Service = Ha: Median time for Service - Median time for Service ... price for single-family homes in Denver is greater than the national median price of $180,000 40 H0: Median price for Model - Median price for Model = Ha: Median price for Model - Median price for ... conclude that there is a difference between the market shares for the two brands of computers 12 H0: Median for Additive - Median for Additive = 19 - © 2010 Cengage Learning All Rights Reserved...

Ngày tải lên: 09/10/2019, 23:12

... four chance outcomes: (W,W); (W,S); (S,W); and (S,S) For instance, (W,S) denotes the outcomes corresponding to weak demand for Chardonnay and strong demand for Riesling b In constructing a decision ... Air Express and DRI concerning whether they locate in Potsdam Even though these are decisions for Air Express and DRI, they are chance events for Potsdam The payoffs and probabilities for the chance ... 0.25 + 0.20 = 0.45 Weak for Chardonnay 0.55 20 Plant Chardonnay EV = 42.5 Strong for Chardonnay 0.45 Weak for Chardonnay, Weak for Riesling 0.05 Weak for Chardonnay, Strong for Riesling Plant both...

Ngày tải lên: 09/10/2019, 23:12

... Learn about four sample designs: (1) simple random sampling, (2) stratified simple random  sampling, (3) cluster sampling,? ?and? ?(4) systematic sampling Lean how to estimate a population mean, a population total,? ?and? ?a population proportion using the  ... Lean how to estimate a population mean, a population total,? ?and? ?a population proportion using the  above sample designs Understand the relationship between sample size? ?and? ?precision Learn how to choose the appropriate sample size using stratified? ?and? ?simple random sampling Learn how to allocate the total sample to the various strata using stratified simple random sampling ... Learn what a sample survey is? ?and? ?how it differs from an experiment as a method of collecting data Know about the methods of data collection? ?for? ?a survey Know the difference between sampling? ?and? ?nonsampling error...

Ngày tải lên: 09/10/2019, 23:12

... Bank for Basic Statistics for Business & Economics 8th Edition by Douglas A Lind, William G Marchal and Samuel A Wathen Chapter 02 Describing Data: Frequency Tables, Frequency Distributions, and ... is halfway between the lower and upper limits True False Test Bank for Basic Statistics for Business & Economics 8th Edition by Douglas A Lind, William G Marchal and Samuel A Wathen True False ... frequency for orders delivered in three days or more? 0.15 Feedback: The three classes, up to 4, up to 5, and up to 6, account for all the deliveries of three days or more So summing 30, 10, and 5,...

Ngày tải lên: 28/02/2019, 15:50

... Test Bank for Statistics for Business and Economics 7th Edition Which of the following variables is an example of a categorical ... terms: information, data, and knowledge From a statistical standpoint, list these terms in order of increasing usefulness in making decisions • A) Information, data, and knowledge • B) Data, information, ... data, and knowledge • B) Data, information, and knowledge • C) Knowledge, information, and data • D) Knowledge, data, and information * Inferential statistics is a process that involves all of...

Ngày tải lên: 22/12/2017, 08:02