MindTap Business Statistics, 1 term (6 months) Printed Access Card for Anderson/Sweeney/Williams/Camm/Cochran's Essentials of Statistics for Business and Economics, 8th
8th Edition
ISBN: 9781337114288
Author: Anderson, David R.; Sweeney, Dennis J.; Williams, Thomas A.; Camm, Jeffrey D.; Cochran, James J.
Publisher: Cengage Learning
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Textbook Question
Chapter 14, Problem 5CP
Buckeye Creek Amusement Park is open from the beginning of May to the end of October. Buckeye Creek relies heavily on the sale of season passes. The sale of season passes brings in significant revenue prior to the park opening each season, and season pass holders contribute a substantial portion of the food, beverage, and novelty sales in the park. Greg Ross, director of marketing at Buckeye Creek, has been asked to develop a targeted marketing campaign to increase season pass sales.
Greg has data for last season that show the number of season pass holders for each zip code within 50 miles of Buckeye Creek. He has also obtained the total population of each zip code from the U.S. Census bureau website. Greg thinks it may be possible to use
- 1. Compute
descriptive statistics and construct ascatter diagram for the data. Discuss your findings. - 2. Using simple linear regression, develop an estimated regression equation that could be used to predict the number of season pass holders in a zip code given the total population of the zip code.
- 3. Test for a significant relationship at the .05 level of significance.
- 4. Did the estimated regression equation provide a good fit?
- 5. Use residual analysis to determine whether the assumed regression model is appropriate.
- 6. Discuss if/how the estimated regression equation should be used to guide the marketing campaign.
- 7. What other data might be useful to predict the number of season pass holders in a zip code?
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2.2, 13.2-13.3)
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The accompanying table contains the data for the amounts (in oz) in cans of a certain soda. The cans are labeled to indicate that the contents are 20 oz of soda. Use the sign test and
0.05 significance level to test the claim that cans of this soda are filled so that the median amount is 20 oz. If the median is not 20 oz, are consumers being cheated?
Click the icon to view the data.
What are the null and alternative hypotheses?
OA. Ho: Medi
More Info
H₁: Medi
OC. Ho: Medi
H₁: Medi
Volume (in ounces)
20.3
20.1
20.4
Find the test stat
20.1
20.5
20.1
20.1
19.9
20.1
Test statistic =
20.2
20.3
20.3
20.1
20.4
20.5
Find the P-value
19.7
20.2
20.4
20.1
20.2
20.2
P-value=
(R
19.9
20.1
20.5
20.4
20.1
20.4
Determine the p
20.1
20.3
20.4
20.2
20.3
20.4
Since the P-valu
19.9
20.2
19.9
Print
Done
20 oz
20 oz
20 oz
20 oz
ce that the consumers are being cheated.
T
Teenage obesity (O), and weekly fast-food meals (F), among some selected Mississippi teenagers are:
Name Obesity (lbs) # of Fast-foods per week
Josh
185
10
Karl
172
8
Terry
168
9
Kamie
Andy
204
154
12
6
(a) Compute the variance of Obesity, s²o, and the variance of fast-food meals, s², of this data. [Must show full work].
(b) Compute the Correlation Coefficient between O and F. [Must show full work].
(c) Find the Coefficient of Determination between O and F. [Must show full work].
(d) Obtain the Regression equation of this data. [Must show full work].
(e) Interpret your answers in (b), (c), and (d). (Full explanations required).
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The average miles per gallon for a sample of 40 cars of model SX last year was 32.1, with a population standard deviation of 3.8. A sample of 40 cars from this year’s model SX has an average of 35.2 mpg, with a population standard deviation of 5.4.
Find a 99 percent confidence interval for the difference in average mpg for this car brand (this year’s model minus last year’s).Find a 99 percent confidence interval for the difference in average mpg for last year’s model minus this year’s. What does the negative difference mean?
Chapter 14 Solutions
MindTap Business Statistics, 1 term (6 months) Printed Access Card for Anderson/Sweeney/Williams/Camm/Cochran's Essentials of Statistics for Business and Economics, 8th
Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations for two variables, x...Ch. 14.2 - Given are five observations collected in a...Ch. 14.2 - Retail and Trade: Female Managers. The following...Ch. 14.2 - Production Line Speed and Quality Control. Brawdy...Ch. 14.2 - Prob. 6ECh. 14.2 - Sales Experience and Performance. A sales manager...Ch. 14.2 - Broker Satisfaction. The American Association of...Ch. 14.2 - Estimating Landscaping Expenditures. David’s...Ch. 14.2 - Prob. 10E
Ch. 14.2 - Laptop Ratings. To help consumers in purchasing a...Ch. 14.2 - Prob. 12ECh. 14.2 - Auditing Itemized Tax Deductions. To the Internal...Ch. 14.2 - Distance and Absenteeism. A large city hospital...Ch. 14.3 - 15. The data from exercise 1...Ch. 14.3 - Prob. 16ECh. 14.3 - The data from exercise 3 follow.
The estimated...Ch. 14.3 - Price and Quality of Headphones. The following...Ch. 14.3 - Prob. 19ECh. 14.3 - Price and Weight of Bicycles. Bicycling, the...Ch. 14.3 - Cost Estimation. An important application of...Ch. 14.3 - Prob. 22ECh. 14.5 - The data from exercise 1 follow.
Compute the mean...Ch. 14.5 - The data from exercise 2 follow.
Compute the mean...Ch. 14.5 - The data from exercise 3 follow.
What is the...Ch. 14.5 - Headphones Conclusion. In exercise 18, the data on...Ch. 14.5 - Prob. 27ECh. 14.5 - Broker Satisfaction Conclusion. In exercise 8,...Ch. 14.5 - Cost Estimation Conclusion. Refer to exercise 21,...Ch. 14.5 - Prob. 30ECh. 14.5 - Significance of Racing Bike Weight on Price. In...Ch. 14.6 - The data from exercise 1 follow. xi 1 2 3 4 5 yi 3...Ch. 14.6 - Prob. 33ECh. 14.6 - 34. The data from exercise 3...Ch. 14.6 - Prob. 35ECh. 14.6 - 36. In exercise 7, the data on y = annual sales ($...Ch. 14.6 - In exercise 13, data were given on the adjusted...Ch. 14.6 - Prob. 38ECh. 14.6 - Prob. 39ECh. 14.7 - Apartment Selling Price. The commercial division...Ch. 14.7 - Computer Maintenance. Following is a portion of...Ch. 14.7 - Annual Sales and Salesforce. A regression model...Ch. 14.7 - Prob. 43ECh. 14.7 - Auto Racing Helmet. Automobile racing,...Ch. 14.8 - Given are data for two variables, x and y. a....Ch. 14.8 - Prob. 46ECh. 14.8 - Restaurant Advertising and Revenue. Data on...Ch. 14.8 - Experience and Sales. Refer to exercise 7, where...Ch. 14.8 - Prob. 49ECh. 14.9 - Consider the following data for two variables, x...Ch. 14.9 - Consider the following data for two variables, x...Ch. 14.9 - Predicting Charity Expenses. Charity Navigator is...Ch. 14.9 - Prob. 53ECh. 14.9 - Valuation of a Major League Baseball Team. The...Ch. 14 - 55. Does a high value of r2 imply that two...Ch. 14 - Prob. 56SECh. 14 - What is the purpose of testing whether 1 = 0? If...Ch. 14 - The Dow Jones Industrial Average (DJIA) and the...Ch. 14 - Prob. 59SECh. 14 - Prob. 60SECh. 14 - Machine Maintenance. Jensen Tire & Auto is in the...Ch. 14 - Production Rate and Quality Control. In a...Ch. 14 - Absenteeism and Location. A sociologist was hired...Ch. 14 - Bus Maintenance. The regional transit authority...Ch. 14 - Studying and Grades. A marketing professor at...Ch. 14 - Income and Percent Audited. The Transactional...Ch. 14 - Used Car Mileage and Price. The Toyota Camry is...Ch. 14 - One measure of the risk or volatility of an...Ch. 14 - As part of a study on transportation safety, the...Ch. 14 - Consumer Reports tested 166 different...Ch. 14 - When trying to decide what car to buy, real value...Ch. 14 - Buckeye Creek Amusement Park is open from the...
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