Draw the histogram of hours for 20 students.

Question

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Answer 1

Question

Chapter 1, Problem 51E

To determine

Draw the histogram of hours for 20 students.

Expert Solution & Answer

Explanation of Solution

Figure-1 illustrates the histogram of hours for 20 students as follows:

Statistics for Business and Economics, Chapter 1, Problem 51E

Stem-and-leaf display:

The stem-and-leaf display is an exploratory data analysis (EDA) that is an alternative method of histogram in which data are grouped according to their leading digits, it is called ‘stems’, and the final digits, called ‘leafs, are listed separately for each member of a class. Here, the leaves are displayed individually in the ascending order after each of the steams.

Table 1 indicates the stem-and-leaf display using the given data (Data file Sun).

Table -1
Table -1
Stem	Leaf
2	4
2	8	9
3	0
3	6	6	9
4	0	4
4	5	6	8
5	0	2
5	5	8
6	2
6	5	7
7	3

Economics Concept Introduction

Histogram: A histogram is a graph in which the vertical bars constructed on a horizontal line are marked off with intervals for the variable being displayed.

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Problem 3 You are given the following demand for European luxury automobiles: Q=1,000 P-0.5.2/1.6 where P-Price of European luxury cars PA = Price of American luxury cars P, Price of Japanese luxury cars I= Annual income of car buyers Assume that each of the coefficients is statistically significant (i.e., that they passed the t-test). On the basis of the information given, answer the following questions 1. Comment on the degree of substitutability between European and American luxury cars and between European and Japanese luxury cars. Explain some possible reasons for the results in the equation. 2. Comment on the coefficient for the income variable. Is this result what you would expect? Explain. 3. Comment on the coefficient of the European car price variable. Is that what you would expect? Explain.

Problem 2: A manufacturer of computer workstations gathered average monthly sales figures from its 56 branch offices and dealerships across the country and estimated the following demand for its product: Q=+15,000-2.80P+150A+0.3P+0.35Pm+0.2Pc (5,234) (1.29) (175) (0.12) (0.17) (0.13) R²=0.68 SER 786 F=21.25 The variables and their assumed values are P = Price of basic model = 7,000 Q==Quantity A = Advertising expenditures (in thousands) = 52 P = Average price of a personal computer = 4,000 P. Average price of a minicomputer = 15,000 Pe Average price of a leading competitor's workstation = 8,000 1. Compute the elasticities for each variable. On this basis, discuss the relative impact that each variable has on the demand. What implications do these results have for the firm's marketing and pricing policies? 2. Conduct a t-test for the statistical significance of each variable. In each case, state whether a one-tail or two-tail test is required. What difference, if any, does it make to…

Answer 2

Question

Chapter 1, Problem 51E

To determine

Draw the histogram of hours for 20 students.

Expert Solution & Answer

Explanation of Solution

Figure-1 illustrates the histogram of hours for 20 students as follows:

Statistics for Business and Economics, Chapter 1, Problem 51E

Stem-and-leaf display:

The stem-and-leaf display is an exploratory data analysis (EDA) that is an alternative method of histogram in which data are grouped according to their leading digits, it is called ‘stems’, and the final digits, called ‘leafs, are listed separately for each member of a class. Here, the leaves are displayed individually in the ascending order after each of the steams.

Table 1 indicates the stem-and-leaf display using the given data (Data file Sun).

Table -1
Table -1
Stem	Leaf
2	4
2	8	9
3	0
3	6	6	9
4	0	4
4	5	6	8
5	0	2
5	5	8
6	2
6	5	7
7	3

Economics Concept Introduction

Histogram: A histogram is a graph in which the vertical bars constructed on a horizontal line are marked off with intervals for the variable being displayed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 1, Problem 51E

To determine

Draw the histogram of hours for 20 students.

Expert Solution & Answer

Explanation of Solution

Figure-1 illustrates the histogram of hours for 20 students as follows:

Statistics for Business and Economics, Chapter 1, Problem 51E

Stem-and-leaf display:

The stem-and-leaf display is an exploratory data analysis (EDA) that is an alternative method of histogram in which data are grouped according to their leading digits, it is called ‘stems’, and the final digits, called ‘leafs, are listed separately for each member of a class. Here, the leaves are displayed individually in the ascending order after each of the steams.

Table 1 indicates the stem-and-leaf display using the given data (Data file Sun).

Table -1
Table -1
Stem	Leaf
2	4
2	8	9
3	0
3	6	6	9
4	0	4
4	5	6	8
5	0	2
5	5	8
6	2
6	5	7
7	3

Economics Concept Introduction

Histogram: A histogram is a graph in which the vertical bars constructed on a horizontal line are marked off with intervals for the variable being displayed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 1, Problem 51E

To determine

Draw the histogram of hours for 20 students.

Expert Solution & Answer

Explanation of Solution

Figure-1 illustrates the histogram of hours for 20 students as follows:

Statistics for Business and Economics, Chapter 1, Problem 51E

Stem-and-leaf display:

The stem-and-leaf display is an exploratory data analysis (EDA) that is an alternative method of histogram in which data are grouped according to their leading digits, it is called ‘stems’, and the final digits, called ‘leafs, are listed separately for each member of a class. Here, the leaves are displayed individually in the ascending order after each of the steams.

Table 1 indicates the stem-and-leaf display using the given data (Data file Sun).

Table -1
Table -1
Stem	Leaf
2	4
2	8	9
3	0
3	6	6	9
4	0	4
4	5	6	8
5	0	2
5	5	8
6	2
6	5	7
7	3

Economics Concept Introduction

Histogram: A histogram is a graph in which the vertical bars constructed on a horizontal line are marked off with intervals for the variable being displayed.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 1, Problem 51E

To determine

Draw the histogram of hours for 20 students.

Expert Solution & Answer

Explanation of Solution

Figure-1 illustrates the histogram of hours for 20 students as follows:

Statistics for Business and Economics, Chapter 1, Problem 51E

Stem-and-leaf display:

The stem-and-leaf display is an exploratory data analysis (EDA) that is an alternative method of histogram in which data are grouped according to their leading digits, it is called ‘stems’, and the final digits, called ‘leafs, are listed separately for each member of a class. Here, the leaves are displayed individually in the ascending order after each of the steams.

Table 1 indicates the stem-and-leaf display using the given data (Data file Sun).

Table -1
Table -1
Stem	Leaf
2	4
2	8	9
3	0
3	6	6	9
4	0	4
4	5	6	8
5	0	2
5	5	8
6	2
6	5	7
7	3

Economics Concept Introduction

Histogram: A histogram is a graph in which the vertical bars constructed on a horizontal line are marked off with intervals for the variable being displayed.

Answer 6

Chapter 1, Problem 51E

To determine

Draw the histogram of hours for 20 students.

Expert Solution & Answer

Explanation of Solution

Figure-1 illustrates the histogram of hours for 20 students as follows:

Statistics for Business and Economics, Chapter 1, Problem 51E

Stem-and-leaf display:

The stem-and-leaf display is an exploratory data analysis (EDA) that is an alternative method of histogram in which data are grouped according to their leading digits, it is called ‘stems’, and the final digits, called ‘leafs, are listed separately for each member of a class. Here, the leaves are displayed individually in the ascending order after each of the steams.

Table 1 indicates the stem-and-leaf display using the given data (Data file Sun).

Table -1
Table -1
Stem	Leaf
2	4
2	8	9
3	0
3	6	6	9
4	0	4
4	5	6	8
5	0	2
5	5	8
6	2
6	5	7
7	3

Economics Concept Introduction

Histogram: A histogram is a graph in which the vertical bars constructed on a horizontal line are marked off with intervals for the variable being displayed.

Answer 7

Chapter 1, Problem 51E

To determine

Draw the histogram of hours for 20 students.

Answer 8

Expert Solution & Answer

Explanation of Solution

Figure-1 illustrates the histogram of hours for 20 students as follows:

Statistics for Business and Economics, Chapter 1, Problem 51E

Stem-and-leaf display:

The stem-and-leaf display is an exploratory data analysis (EDA) that is an alternative method of histogram in which data are grouped according to their leading digits, it is called ‘stems’, and the final digits, called ‘leafs, are listed separately for each member of a class. Here, the leaves are displayed individually in the ascending order after each of the steams.

Table 1 indicates the stem-and-leaf display using the given data (Data file Sun).

Table -1
Table -1
Stem	Leaf
2	4
2	8	9
3	0
3	6	6	9
4	0	4
4	5	6	8
5	0	2
5	5	8
6	2
6	5	7
7	3

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Economics Concept Introduction

Histogram: A histogram is a graph in which the vertical bars constructed on a horizontal line are marked off with intervals for the variable being displayed.

Answer 12

Ch. 1.2 - Prob. 1E Ch. 1.2 - Prob. 2E Ch. 1.2 - Prob. 3E Ch. 1.2 - Prob. 4E Ch. 1.2 - Prob. 5E Ch. 1.2 - Prob. 6E Ch. 1.2 - Prob. 7E Ch. 1.2 - Prob. 8E Ch. 1.3 - Prob. 9E Ch. 1.3 - Prob. 10E

Draw the histogram of hours for 20 students.

Draw the histogram of hours for 20 students.

Explanation of Solution

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Chapter 1 Solutions