Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card
6th Edition
ISBN: 9781337589383
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
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Textbook Question
Chapter 11, Problem 25SE
Business Travel Costs. According to the 2017 Corporate Travel Index compiled by Business Travel News, the average daily cost for business travel in the United States rose to $321 per day (Executive Travel website, https://executivetravel.com/new-business-travel-study-says-average-per-diem-is-now-321day/). The file Travel contains sample data for an analogous study on the estimated daily living costs for an executive traveling to various international cities. The estimates include a single room at a four-star hotel, beverages, breakfast, taxi fares, and incidental costs.
- a. Compute the sample
mean . - b. Compute the sample standard deviation.
- c. Compute a 95% confidence interval for the population standard deviation.
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Examine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include:
Mileage (mpg)
Number of Cylinders (cyl)
Displacement (disp)
Horsepower (hp)
Research: Google to understand these variables.
Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp
Mean
Median
First Quartile (Q1)
Second Quartile (Q2)
Third Quartile (Q3)
Fourth Quartile (Q4)
10th Percentile
70th Percentile
Skewness
Kurtosis
Document Your Results:
In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command”
In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…
Examine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include:
Mileage (mpg)
Number of Cylinders (cyl)
Displacement (disp)
Horsepower (hp)
Research: Google to understand these variables.
Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp
Mean
Median
First Quartile (Q1)
Second Quartile (Q2)
Third Quartile (Q3)
Fourth Quartile (Q4)
10th Percentile
70th Percentile
Skewness
Kurtosis
Document Your Results:
In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command”
In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…
Chapter 11 Solutions
Bundle: Modern Business Statistics with Microsoft Office Excel, Loose-Leaf Version, 6th + MindTap Business Statistics, 2 terms (12 months) Printed Access Card
Ch. 11.1 - 1. Find the following chi-square distribution...Ch. 11.1 - 2. A sample of 20 items provides a sample standard...Ch. 11.1 - A sample of 16 items provides a sample standard...Ch. 11.1 - 4. The variance in drug weights is critical in the...Ch. 11.1 - John Calipari, head basketball coach for the 2012...Ch. 11.1 - The Wall Street Journal reported that Americans...Ch. 11.1 - Volatility of General Electric Stock. To analyze...Ch. 11.1 - Consider a day when the Dow Jones Industrial...Ch. 11.1 - Aerospace Part Manufacturing. The competitive...Ch. 11.1 - Costco Customer Satisfaction. Consumer Reports...
Ch. 11.1 - Variability in GMAT Scores. In 2016, the Graduate...Ch. 11.1 - Vehicle Ownership by Fortune Magazine Subscribers....Ch. 11.2 - 13. Find the following F distribution values from...Ch. 11.2 - Prob. 14ECh. 11.2 - Prob. 15ECh. 11.2 - Prob. 16ECh. 11.2 - Repair Costs as Automobiles Age. In its 2016 Auto...Ch. 11.2 - Prob. 18ECh. 11.2 - Bag-Filling Machines at Jelly Belly. The variance...Ch. 11.2 - Prob. 20ECh. 11.2 - Many smartphones, especially those of the...Ch. 11.2 - Prob. 22ECh. 11 - 23. Because of staffing decisions, managers of the...Ch. 11 - Prob. 24SECh. 11 - Business Travel Costs. According to the 2017...Ch. 11 - Manufacture of Ball Bearings. Ball bearing...Ch. 11 - The filling variance for boxes of cereal is...Ch. 11 - City Trucking, Inc., claims consistent delivery...Ch. 11 - Daily Patient Volume at Dental Clinic. A sample of...Ch. 11 - Prob. 30SECh. 11 - Golf Scores. Is there any difference in the...Ch. 11 - Grade Point Average Comparison. The grade point...Ch. 11 - Prob. 33SECh. 11 - Two new assembly methods are tested and the...Ch. 11 - An Air Force introductory course in electronics...Ch. 11 - Meticulous Drill & Reamer (MD&R) specializes in...
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- Examine the Variables: Carefully review and note the names of all variables in the dataset. Examples of these variables include: Mileage (mpg) Number of Cylinders (cyl) Displacement (disp) Horsepower (hp) Research: Google to understand these variables. Statistical Analysis: Select mpg variable, and perform the following statistical tests. Once you are done with these tests using mpg variable, repeat the same with hp Mean Median First Quartile (Q1) Second Quartile (Q2) Third Quartile (Q3) Fourth Quartile (Q4) 10th Percentile 70th Percentile Skewness Kurtosis Document Your Results: In RStudio: Before running each statistical test, provide a heading in the format shown at the bottom. “# Mean of mileage – Your name’s command” In Microsoft Word: Once you've completed all tests, take a screenshot of your results in RStudio and paste it into a Microsoft Word document. Make sure that snapshots are very clear. You will need multiple snapshots. Also transfer these results to the…arrow_forward2 (VaR and ES) Suppose X1 are independent. Prove that ~ Unif[-0.5, 0.5] and X2 VaRa (X1X2) < VaRa(X1) + VaRa (X2). ~ Unif[-0.5, 0.5]arrow_forward8 (Correlation and Diversification) Assume we have two stocks, A and B, show that a particular combination of the two stocks produce a risk-free portfolio when the correlation between the return of A and B is -1.arrow_forward
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