EP BUSINESS STATISTICS:FIRST COURSE-ACC
8th Edition
ISBN: 9780135179802
Author: Levine
Publisher: PEARSON CO
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A particular magazine identified the top accounting firms in 8 geographic regions across a certain country. Even though all 8 regions reported growth in the past year,
region A and region B reported the highest combined growths, with 17% and 25%, respectively. A characteristic description of the accounting firms in these regions
included the number of partners in the firm. The accompanying table contains data on the number of partners. Complete parts (a) through (d) below.
E Click on the icon to view the data table.
IMPORTANT NOTE: In all of these questions, there are 2 possible ratios A/B and B/AI Our convention is to always assume that the larger variance is in the
numerator (i.e., on top). The correct answer will always be found in this fashion. Similarly, in questions about a critical value, we shall consider the right
(upper) tail.
a. At the 0.01 level of significance, is there evidence of a difference in the variability in numbers of partners for region A accounting firms and…
Define Data Reduction?
The sales manager of a large automotive parts distributor wants to estimate the total annual sales for each of the company’s regions. Five factors appear to be related to regional sales: the number of retail outlets in the region, the number of automobiles in the region registered as of April 1, the total personal income recorded in the first quarter of the year, the average age of the automobiles (years), and the number of sales supervisors in the region. The data for each region were gathered for last year. For example, see the following table. In region 1 there were 1,739 retail outlets stocking the company’s automotive parts, there were 9,270,000 registered automobiles in the region as of April 1, and so on. The region’s sales for that year were $37,702,000.
constant
outlet
automobile reg
income
age
bosses
37.702
1,739
9.27
85.4
3.5
9
24.196
1,221
5.86
60.7
5
5
32.055
1,846
8.81
68.1
4.4
7
3.611
120
3.81
20.2
4
5
17.625
1,096
10.31
33.8
3.5
7
45.919
2,290
11.62
95.1…
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- A survey about social media reported that 82% of B2B marketers (marketers that focus primarily on attracting businesses) plan to increase their use of social media, as compared to 55% of B2C marketers (marketers that primarily target consumers). The survey was based on 1,286 B2B marketers and 1,731 B2C marketers. The accompanying table summarizes the results. Complete parts (a) through (d) below. A. What is the probability that a randomly selected respondent is a B2C marketer? B. What is the probability that a randomly selected respondent plans to increase use of social media or is a B2C marketer? C. Explain the difference in the results in (a) and (b)arrow_forwardGive an example of a study that would collect univariate and quantitative data.arrow_forwardA survey about social media reported that 79% of B2B marketers (marketers that focus primarily on attracting businesses) plan to increase their use of social media, as compared to 54% of B2C marketers (marketers that primarily target consumers). The survey was based on 1,333 B2B marketers and 1,669 B2C marketers. The accompanying table summarizes the results. Complete parts (a) through (d) below. A Click the icon to view the contingency table about social media use and marketers. Contingency table a. What is the probability that a randomly selected respondent plans to increase use of social media? (Round to three decimal places as needed.) Increase Use of Social Media? Business Focus B2B B2C Total b. What is the probability that a randomly selected respondent is a B2C marketer? Yes 1,049 901 1,950 (Round to three decimal places as needed.) No 284 768 1,052 Total 1,333 1,669 3,002 c. What is the probability that a randomly selected respondent plans to increase use of social media or is…arrow_forward
- An agronomist undertook an experiment to investigate the factors that potato harvest. In his research, agronomist decided to divide the farm into 30 half hectare plots and apply varies level of fertilizer. Potato was then planted and the harvest at the end of the season was recorded. Fertilizer(Kg) Harvest (tons) 210 43.5 220 40.0 230 48.0 240 65.0 250 80.0 260 85.0 270 95.0 280 80.0 290 97.3 Note: No excel ANOVA output allowed. Students need to show all the steps in calculations. You are required to; Find the simple regression line and interpret the coefficients. Find the coefficient of determination and interpret its value. Does the model appear to be a useful tool in predicting the potato harvest? If so, predict the harvest when 250KG of fertilizer is applied. If not explain why not.arrow_forwardIs it possible to predict the annual number of business bankruptcies by the number of firm births (business starts) in the United States? The following data published by the U.S. Small Business Administration, Office of Advocacy, are pairs of the number of business bankruptcies (1,000s) and the number of firm births (10,000s) for a six-year period. Business Bankruptcies (1,000) 34.3 Firm Births (10,000) 58.1 35.0 55.4 38.5 57.0 40.1 58.5 35.5 57.4 37.9 58.0 i) Based on the output given, use these data to develop the equation of the regression model to predict the number of business bankruptcies by the number of firm births. ii) Explain the values of r and r. iii) Predict the number of business bankruptcies if the number of firm births is 54.0 (10,000s). iv) Do the data support the existence of a linear relationship between the number of firm births and the number of business bankruptcies? Test using a = 0.05. OUTPUT Model Summary Std. Error of the Estimate Adusted R Model R R Square…arrow_forwardhelp B and Carrow_forward
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