Concept explainers
a.
Compute the differences of the sales between October 2015 and October 2014.
List the manufacturers for whom, the sales in 2015 increased as compared to 2014.
List the manufacturers for whom, the sales in 2015 decreased as compared to 2014.
a.
Answer to Problem 17CE
The differences of the sales between October 2015 and October 2014 are as follows:
Manufacturer | Through October 2015 | Through October 2014 | Difference |
General Motors Corp. | 2,562,840 | 2,434,707 | 128,133 |
Ford Motor Company | 2,178,587 | 2,065,612 | 112,975 |
Toyota Motor Sales USA Inc. | 2,071,446 | 1,975,368 | 96,078 |
Chrysler | 1,814,268 | 1,687,313 | 12,6955 |
American Honda Motor Co Inc. | 1,320,217 | 1,281,777 | 38,440 |
Nissan North America Inc. | 1,238,535 | 1,166,389 | 72,146 |
Hyundai Motor America | 638,195 | 607,539 | 30,656 |
Kia Motors America Inc. | 526,024 | 489,711 | 36,313 |
Subaru of America Inc. | 480,331 | 418,497 | 61,834 |
Volkswagen of America Inc. | 294,602 | 301,187 | –6,585 |
Mercedes-Benz | 301,915 | 281,728 | 20,187 |
BMW of North America Inc. | 279,395 | 267,193 | 12,202 |
Mazda Motor of America Inc. | 267,158 | 259,751 | 7,407 |
Audi of America Inc. | 165,103 | 146,133 | 18,970 |
Mitsubishi Motors N A, Inc. | 80,683 | 64,564 | 16,119 |
Volvo | 53,803 | 47,823 | 5,980 |
Land Rover ** | 55,602 | 42,067 | 13,535 |
Fiat | 35,576 | 39,226 | –3,650 |
Porsche Cars NA Inc. | 43,370 | 39,033 | 4,337 |
Jaguar * | 12,204 | 12,837 | –633 |
Tesla * | 17,350 | 15,500 | 1,850 |
Mini * | 49,061 | 44,488 | 4,573 |
Maserati * | 9,544 | 10,327 | –783 |
Smart * | 6,153 | 8,665 | –2,512 |
Bentley * | 1,917 | 2,268 | –351 |
Ferrari * | 1,903 | 1,739 | 164 |
Rolls Royce * | 701 | 682 | 19 |
Lamborghini * | 866 | 494 | 372 |
The manufacturers for whom, the sales in 2015 increased as compared to 2014 are as follows:
Manufacturer | Through October 2015 | Through October 2014 | Difference |
General Motors Corp. | 2,562,840 | 2,434,707 | 128,133 |
Ford Motor Company | 2,178,587 | 2,065,612 | 112,975 |
Toyota Motor Sales USA Inc. | 2,071,446 | 1,975,368 | 96,078 |
Chrysler | 1,814,268 | 1,687,313 | 12,6955 |
American Honda Motor Co Inc. | 1,320,217 | 1,281,777 | 38,440 |
Nissan North America Inc. | 1,238,535 | 1,166,389 | 72,146 |
Hyundai Motor America | 638,195 | 607,539 | 30,656 |
Kia Motors America Inc. | 526,024 | 489,711 | 36,313 |
Subaru of America Inc. | 480,331 | 418,497 | 61,834 |
Mercedes-Benz | 301,915 | 281,728 | 20,187 |
BMW of North America Inc. | 279,395 | 267,193 | 12,202 |
Mazda Motor of America Inc. | 267,158 | 259,751 | 7,407 |
Audi of America Inc. | 165,103 | 146,133 | 18,970 |
Mitsubishi Motors N A, Inc. | 80,683 | 64,564 | 16,119 |
Volvo | 53,803 | 47,823 | 5,980 |
Land Rover ** | 55,602 | 42,067 | 13,535 |
Porsche Cars NA Inc. | 43,370 | 39,033 | 4,337 |
Tesla * | 17,350 | 15,500 | 1,850 |
Mini * | 49,061 | 44,488 | 4,573 |
Ferrari * | 1,903 | 1,739 | 164 |
Rolls Royce * | 701 | 682 | 19 |
Lamborghini * | 866 | 494 | 372 |
The manufacturers for whom, the sales in 2015 decreased as compared to 2014 are as follows:
Manufacturer | Through October 2015 | Through October 2014 | Difference |
Volkswagen of America Inc. | 294,602 | 301,187 | –6,585 |
Fiat | 35,576 | 39,226 | –3,650 |
Jaguar * | 12,204 | 12,837 | –633 |
Maserati * | 9,544 | 10,327 | –783 |
Smart * | 6,153 | 8,665 | –2,512 |
Bentley * | 1,917 | 2,268 | –351 |
Explanation of Solution
Calculation:
The manufacturers for whom, data is missing for one or both the years are ignored.
Step-by-step procedure to calculate the differences of the sales between October 2015 and October 2014 using EXCEL is given below:
- Type the headings Manufacturer, Through October 2015, and Through October 2014, in cells A1, B1 and C1 respectively.
- Enter the manufacturers’ names in cells A2 to A29; the data for 2015 in cells B2 to B29; enter the data for 2014 in cells C2 to C29.
- Type the heading Difference in cell D1.
- Type the formula =B2-C2 in cell D2, and press Enter.
- Drag the cell till cell D29.
Thus, the differences are obtained using EXCEL.
The manufacturers with positive differences are the ones, for whom, the sales in 2015 increased as compared to 2014.
The manufacturers with negative differences are the ones, for whom, the sales in 2015 decreased as compared to 2014.
These can be identified from the list of differences obtained using software.
b.
Compute the percentage changes in sales between October 2015 and October 2014 and list them in an ascending order.
List the top 5 manufacturers in terms of percentage change.
List the bottom 5 manufacturers in terms of percentage change.
b.
Answer to Problem 17CE
The percentage changes in sales between October 2015 and October 2014 in an ascending order are as follows:
Manufacturer | Through October 2015 | Through October 2014 | Percentage change (%) |
Smart * | 6,153 | 8,665 | –28.99 |
Bentley * | 1,917 | 2,268 | –15.48 |
Fiat | 35,576 | 39,226 | –9.31 |
Maserati * | 9,544 | 10,327 | –7.58 |
Jaguar * | 12,204 | 12,837 | –4.93 |
Volkswagen of America Inc. | 2,94,602 | 3,01,187 | –2.19 |
Rolls Royce * | 701 | 682 | 2.79 |
Mazda Motor of America Inc. | 2,67,158 | 2,59,751 | 2.85 |
American Honda Motor Co Inc. | 1,320,217 | 1,281,777 | 3.00 |
BMW of North America Inc. | 279,395 | 267,193 | 4.57 |
Toyota Motor Sales USA Inc. | 2,071,446 | 1.975,368 | 4.86 |
Hyundai Motor America | 638,195 | 607,539 | 5.05 |
General Motors Corp. | 2,562,840 | 2,434,707 | 5.26 |
Ford Motor Company | 2,178,587 | 2,065,612 | 5.47 |
Nissan North America Inc. | 1,238,535 | 1,166,389 | 6.19 |
Mercedes-Benz | 301,915 | 281,728 | 7.17 |
Kia Motors America Inc. | 526,024 | 489,711 | 7.42 |
Chrysler | 1,814,268 | 1,687,313 | 7.52 |
Ferrari * | 1,903 | 1,739 | 9.43 |
Mini * | 49,061 | 44,488 | 10.28 |
Porsche Cars NA Inc. | 43,370 | 39,033 | 11.11 |
Tesla * | 17,350 | 15,500 | 11.94 |
Volvo | 53,803 | 47,823 | 12.50 |
Audi of America Inc. | 165,103 | 146,133 | 12.98 |
Subaru of America Inc. | 480,331 | 418,497 | 14.78 |
Mitsubishi Motors N A, Inc. | 80,683 | 64,564 | 24.97 |
Land Rover ** | 55,602 | 42,067 | 32.17 |
Lamborghini * | 866 | 494 | 75.30 |
The top 5 manufacturers in terms of percentage change are as follows:
Manufacturer | Through October 2015 | Through October 2014 | Percentage change (%) |
Lamborghini * | 866 | 494 | 75.30 |
Land Rover ** | 55,602 | 42,067 | 32.17 |
Mitsubishi Motors N A, Inc. | 80,683 | 64,564 | 24.97 |
Subaru of America Inc. | 480,331 | 418,497 | 14.78 |
Audi of America Inc. | 165,103 | 146,133 | 12.98 |
The bottom 5 manufacturers in terms of percentage change are as follows:
Manufacturer | Through October 2015 | Through October 2014 | Percentage change (%) |
Smart * | 6,153 | 8,665 | –28.99 |
Bentley * | 1,917 | 2,268 | –15.48 |
Fiat | 35,576 | 39,226 | –9.31 |
Maserati * | 9,544 | 10,327 | –7.58 |
Jaguar * | 12,204 | 12,837 | –4.93 |
Explanation of Solution
Calculation:
Step-by-step procedure to calculate the percentage changes of the sales between October 2015 and October 2014 and to sort the changes using EXCEL is given below:
- Type the heading Percentage change in cell E1.
- Type the formula =(D2/C2)*100 in cell E2, and press Enter.
- Drag the cell till cell E29.
- Select the values in cells E2 to E29 and choose Editing > Sort & Filter > Sort Smallest to Largest > Expand Selection > OK.
Thus, the sorted percentage changes are obtained using EXCEL.
The manufacturers with the top 5 and bottom 5 percentage changes can be identified from the list of percentage changes obtained using software.
c.
Draw a bar graph of the data in 2014 and 2015, sorted with respect to 2015 for the top 12 manufacturers.
Draw a bar graph of the percentage changes, sorted with respect to 2015 for the top 12 manufacturers.
c.
Answer to Problem 17CE
The bar graph of the data in 2014 and 2015, sorted with respect to 2015 for the top 12 manufacturers is as follows:
The bar graph of the percentage changes, sorted with respect to 2015 for the top 12 manufacturers is as follows:
Explanation of Solution
Calculation:
The data are already sorted with respect to 2015. The observations in rows 2 to 13, under columns A to E, correspond to the top 12 companies.
Step-by-step procedure to bar graph of the data in 2014 and 2015, sorted with respect to 2015 for the top 12 manufacturers using EXCEL is given below:
- Select cells A1 to C13.
- Choose Insert > Insert Column or Bar Chart > 2-D Column > Clustered Column.
Thus, the bar graph of the data in 2014 and 2015, sorted with respect to 2015 for the top 12 manufacturers is obtained using EXCEL.
Step-by-step procedure to bar graph of the percentage changes, sorted with respect to 2015 for the top 12 manufacturers using EXCEL is given below:
- Select cells A1 to A13, and E1 to E13.
- Choose Insert > Insert Column or Bar Chart > 2-D Column > Clustered Column.
Thus, the bar graph of the percentage changes, sorted with respect to 2015 for the top 12 manufacturers is obtained using EXCEL.
From the first bar graph, it can be observed that for most of the top 12 companies, the bars are higher for 2015 than for 2014, which indicates that the sales have increased from 2014 to 2015. However, for the 10th company in the list, the sales have slightly decreased in 2015, as compared to 2014, as suggested by the heights of the bars.
From the second bar graph, it can be observed that the sales have increased by 4% to 6%, from 2014 to 2015, for most of the top 12 companies. However, aa few notable differences are also observed. The sales for the 5th company on the list have increased only by about 3%. The sales for the 10th company on the list has, in fact, reduced by about 2%. The ales of the 9th company on the list has increased by approximately 15%, which is quite high as compared to the others.
Want to see more full solutions like this?
Chapter 1 Solutions
STATISTICAL TECHNIQUES FOR BUSINESS AND
- Please show as much work as possible to clearly show the steps you used to find each solution. If you plan to use a calculator, please be sure to clearly indicate your strategy. Consider the following game. It costs $3 each time you roll a six-sided number cube. If you roll a 6 you win $15. If you roll any other number, you receive nothing. a) Find the expected value of the game. b) If you play this game many times, will you expect to gain or lose money?arrow_forward= 12:02 WeBWorK / 2024 Fall Rafeek MTH23 D02 / 9.2 Testing the Mean mu / 3 38 WEBWORK Previous Problem Problem List Next Problem 9.2 Testing the Mean mu: Problem 3 (1 point) Test the claim that the population of sophomore college students has a mean grade point average greater than 2.2. Sample statistics include n = 71, x = 2.44, and s = 0.9. Use a significance level of a = 0.01. The test statistic is The P-Value is between : The final conclusion is < P-value < A. There is sufficient evidence to support the claim that the mean grade point average is greater than 2.2. ○ B. There is not sufficient evidence to support the claim that the mean grade point average is greater than 2.2. Note: You can earn partial credit on this problem. Note: You are in the Reduced Scoring Period. All work counts for 50% of the original. Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining. . Oli wwm01.bcc.cuny.eduarrow_forwardThere are four white, fourteen blue and five green marbles in a bag. A marble is selected from the bag without looking. Find the odds of the following: The odds against selecting a green marble. The odds in favour of not selecting a green marble The odds in favor of the marble selected being either a white or a blue marble. What is true about the above odds? Explainarrow_forward
- Please show as much work as possible to clearly show the steps you used to find each solution. If you plan to use a calculator, please be sure to clearly indicate your strategy. 1. The probability of a soccer game in a particular league going into overtime is 0.125. Find the following: a. The odds in favour of a game going into overtime. b. The odds in favour of a game not going into overtime. c. If the teams in the league play 100 games in a season, about how many games would you expect to go into overtime?arrow_forwardexplain the importance of the Hypothesis test in a business setting, and give an example of a situation where it is helpful in business decision making.arrow_forwardA college wants to estimate what students typically spend on textbooks. A report fromthe college bookstore observes that textbooks range in price from $22 to $186. Toobtain a 95% confidence level for a confidence interval estimate to plus or minus $10,how many students should the college survey? (We may estimate the populationstandard deviation as (range) ÷ 4.)arrow_forward
- In a study of how students give directions, forty volunteers were given the task ofexplaining to another person how to reach a destination. Researchers measured thefollowing five aspects of the subjects’ direction-giving behavior:• whether a map was available or if directions were given from memory without a map,• the gender of the direction-giver,• the distances given as part of the directions,• the number of times directions such as “north” or “left” were used,• the frequency of errors in directions. Identify each of the variables in this study, and whether each is quantitative orqualitative. For each quantitative variable, state whether it is discrete or continuous. Was this an observational study or an experimental study? Explain your answer.arrow_forwardexplain the difference between the confident interval and the confident level. provide an example to show how to correctly interpret a confidence interval.arrow_forwardSketch to scale the orbit of Earth about the sun. Graph Icarus’ orbit on the same set of axesWhile the sun is the center of Earth’s orbit, it is a focus of Icarus’ orbit. There aretwo points of intersection on the graph. Based on the graph, what is the approximate distance between the two points of intersection (in AU)?arrow_forward
- The diameters of ball bearings are distributed normally. The mean diameter is 67 millimeters and the standard deviation is 3 millimeters. Find the probability that the diameter of a selected bearing is greater than 63 millimeters. Round to four decimal places.arrow_forwardSuppose you like to keep a jar of change on your desk. Currently, the jar contains the following: 22 Pennies 27 Dimes 9 Nickels 30 Quarters What is the probability that you reach into the jar and randomly grab a penny and then, without replacement, a dime? Express as a fraction or a decimal number rounded to four decimal places.arrow_forwardA box contains 14 large marbles and 10 small marbles. Each marble is either green or white. 9 of the large marbles are green, and 4 of the small marbles are white. If a marble is randomly selected from the box, what is the probability that it is small or white? Express as a fraction or a decimal number rounded to four decimal places.arrow_forward
- Algebra: Structure And Method, Book 1AlgebraISBN:9780395977224Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. ColePublisher:McDougal LittellElementary AlgebraAlgebraISBN:9780998625713Author:Lynn Marecek, MaryAnne Anthony-SmithPublisher:OpenStax - Rice University
- Intermediate AlgebraAlgebraISBN:9781285195728Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningAlgebra for College StudentsAlgebraISBN:9781285195780Author:Jerome E. Kaufmann, Karen L. SchwittersPublisher:Cengage LearningGlencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill