Business Statistics: A First Course (8th Edition)
8th Edition
ISBN: 9780135177785
Author: David M. Levine, Kathryn A. Szabat, David F. Stephan
Publisher: PEARSON
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Assume that you work in the Planning Department of LTG National Bank and report to Miss G.
You will need to do some data analysis and prepare a short-written report. The written part of the
report should not exceed a page in length. Remember, Mr. K is the President of the bank, so you will
want to ensure that your report is complete and accurate. A copy of the data appears in page 3.
The LTG National Bank has offices in several areas of Metro Manila. Mr. K, President and CEO,
would like to know the characteristics of his checking account customers. What is the balance of a
typical customer? How many other bank services do the checking account customers use? Do the
customers use the ATM service and if so how often? What about debit cards? Who uses them, and how
often are they used?
To better understand the customers, Mr. K asked Miss G, Director of Planning to select a sample
of customers and prepare a report. To begin, she has appointed a team from her staff. You are the
head of the…
Four different paints are advertised as having the same drying time. To check the manufacturer's claims, five samples were tested for each of the paints. The time in minutes until the paint was dry enough for a second coat to be applied was recorded. The following data were obtained.
Excel users: The data set is available in file named Paint. All data sets can be found on the premium online datasite. Click on the datafile logo to reference the data. (the excel data is below)
Paint 1
Paint 2
Paint 3
Paint 4
128
144
133
150
137
133
143
142
135
142
137
135
124
146
136
140
141
130
131
153
At the A=0.05 level of significance, test to see whether the mean drying time is the same for each type of paint.
Compute the values identified below (to 2 decimals, if necessary).
Sum of Squares, Treatment
Sum of Squares,…
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- The domestic airfare for business travel for the current year and the previous year was reported. A sample of 12 flights with their domestic airfares shown for both years is contained in the Excel Online file below. Construct a spreadsheet to answer the following questions. Due to a recent change by Microsoft you will need to open the XLMiner Analysis ToolPak add-in manually from the home ribbon. Screenshot of ToolPak Open spreadsheet a. Formulate the hypotheses and test for a significant increase in the mean domestic airfare for business travel for the one-year period. Ho: 1-2 ↑ 0 H₂ : 1 - 2 ↑ What are the t-value, degrees of freedom, and p-value t-value Degrees of freedom p-value We (to 4 decimals) Using a .05 level of significance, what is your conclusion? (to 4 decimals) Current Year: $ Previous Year: $ that there has been a significance increase in business travel airfares over the one-year period. b. What is the sample mean domestic airfare for business travel for each year? (to…arrow_forwardJohnson Filtration, Inc. provides maintenance service for water-filtration systems. Suppose that in addition to information on the number of months since the machine was serviced and whether a mechanical or an electrical repair was necessary, the managers obtained a list showing which repairperson performed the service. The revised data follow. Click on the datafile logo to reference the data. DATA file Repair Time Months Since in Hours Last Service Type of Repair Repairperson 2.9 Electrical Dave Newton 3.0 Mechanical Dave Newton 4.8 8. Electrical Bob Jones 1.8 Mechanical Dave Newton 2.9 Electrical Dave Newton 4.9 Electrical Bob Jones 4.2 6. Mechanical Bob Jones 4.8 8. Mechanical Bob Jones 4.4 4. Electrical Bob Jones 4.5 Electrical Dave Newton a. Ignore for now the months since the last maintenance service (1 ) and the repairperson who performed the service. Develop the estimated simpe linear regression equation to predict the repair time (y) given the type of repair (2 ). Recall that…arrow_forwardOn December 17, 2007 baseball writer John Hickey wrote an article for the Seattle P-I about increases to ticket prices for Seattle Mariners games during the 2008 season. The article included a data set that listed the average ticket price for each MLB team, the league in which the team plays (AL or NL), the number of wins during the 2007 season and the cost per win (in dollars). The data for the 16 National League teams are shown below. team league price wins cost/win Arizona Diamondbacks NL 19.68 90 35.40 Atlanta Braves NL 17.07 84 32.89 Chicago Cubs NL 34.30 85 65.33 Cincinnati Reds NL 17.90 72 40.32 Colorado Rockies NL 14.72 90 26.67 Florida Marlins NL 16.70 71 38.13 Houston Astros NL 26.66 73 59.11 Los Angeles Dodgers NL 20.09 82 34.64 Milwaukee Brewers NL 18.11 83 35.37 N.Y. Mets NL 25.28 88 46.56 Philadelphia Phillies NL 26.73 89 48.69 Pittsburgh Pirates NL 17.08 68 40.67 San Diego Padres NL 20.83 89 38.15 San Francisco Giants NL 24.53 71…arrow_forward
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