Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
6th Edition
ISBN: 9781337115186
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 17.5, Problem 29E
Consider the following time series data.
- a. Construct a time series plot. What type of pattern exists in the data?
- b. Use the following dummy variables to develop an estimated regression equation to account for any seasonal and linear trend effects in the data: Qtr1 = 1 if Quarter 1, 0 otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise; Qtr3 = 1 if Quarter 3, 0 otherwise.
- c. Compute the quarterly forecasts for next year.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Table 1 contains the data from a patient satisfaction survey for a group of 25 randomly selected patients at a
hospital. In addition to satisfaction, data were collected on patient age and an index that measured the severity
of illness.
(a) Fit a linear regression model relating satisfaction to patient age.
(b) Test for significance of regression.
(c) What portion of the total variability is accounted for by the regressor variable age?
Table 1: Patient Satisfaction Data
Severity
Observation
Age (21)
(x2)
Satisfaction
(y)
1
55
50
2
46
24
3
30
46
4
35
48
5
59
58
6
61
60
7
74
65
8
38
42
9
27
42
10
51
50
11
53
38
12
41
30
13
37
31
88
14
24
34
15
42
30
16
50
48
17
58
61
18
60
71
19
62
62
20
68
38
21
70
41
22
79
66
23
63
31
24
39
42
25
49
40
BE225222222222222222
68
77
96
80
43
44
26
88
75
57
56
88
102
88
70
43
46
56
59
26
83
75
14
A survey is conducted to determine whether
would prefer to work at home, if given the
20 office employees of a certain company
chance. The overall results are shown in the
first bar graph, and the results broken down
by gender are presented in the second.
a. Interpret the results of each graph.
b. Discuss the added value in including gen-
der in the second bar graph. (The second
bar graph in this problem is called a side
by side bar graph and is often used to
show results broken down by two or more
variables.)
c. Compare the side by side bar graph with
the two pie charts that you made for
Question 6. Which of the two methods is
best for comparing two groups, in your
opinion?
A
Would you prefer to work at home? (n=20)
60
50
40
Percent
20
30
20
30
10
0
No
Yes
Prefer to work at home? (10 males, 10 females)
80
Percent
60
00
40
40
20-
No
Yes
No
Yes
Female
Male
Frequency
12
Suppose that a random sample of 270 gradu-
ating seniors are asked what their immediate
priorities are, including whether buying a
house is a priority. The results are shown in
the following bar graph.
a. The bar graph is misleading; explain why.
b. Make a new bar graph that more fairly
presents the results.
Is Buying a House a Priority?
300
250
200
150
100
50
0
Yes
No
Undecided
Chapter 17 Solutions
Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card) (MindTap Course List)
Ch. 17.2 - 1. Consider the following time series...Ch. 17.2 - 2. Refer to the time series data in exercise 1....Ch. 17.2 - Prob. 3ECh. 17.2 - 4. Consider the following time series...Ch. 17.3 - Consider the following time series...Ch. 17.3 - Consider the following time series...Ch. 17.3 - Refer to the gasoline sales time series data in...Ch. 17.3 - Prob. 8ECh. 17.3 - 9. With the gasoline time series data from Table...Ch. 17.3 - 10. With a smoothing constant of α = .2, equation...
Ch. 17.3 - For the Hawkins Company, the monthly percentages...Ch. 17.3 - Corporate triple-A bond interest rates for 12...Ch. 17.3 - The values of Alabama building contracts (in $...Ch. 17.3 - The following time series shows the sales of a...Ch. 17.3 - Ten weeks of data on the Commodity Futures Index...Ch. 17.3 - Prob. 16ECh. 17.4 - Consider the following time series...Ch. 17.4 - Prob. 18ECh. 17.4 - Prob. 19ECh. 17.4 - Prob. 20ECh. 17.4 - Prob. 21ECh. 17.4 - Prob. 22ECh. 17.4 - The president of a small manufacturing firm is...Ch. 17.4 - The following data shows the average interest rate...Ch. 17.4 - Quarterly revenue ($ millions) for Twitter for the...Ch. 17.4 - Giovanni Food Products produces and sells frozen...Ch. 17.4 - The number of users of Facebook from 2004 through...Ch. 17.5 - Consider the following time series.
Construct a...Ch. 17.5 - Consider the following time series...Ch. 17.5 - The quarterly sales data (number of copies sold)...Ch. 17.5 - Air pollution control specialists in southern...Ch. 17.5 - South Shore Construction builds permanent docks...Ch. 17.5 - Prob. 33ECh. 17.5 - Prob. 34ECh. 17.6 - Consider the following time series...Ch. 17.6 - Refer to exercise 35.
Deseasonalize the time...Ch. 17.6 - The quarterly sales data (number of copies sold)...Ch. 17.6 - Three years of monthly lawn-maintenance expenses...Ch. 17.6 - Air pollution control specialists in southern...Ch. 17.6 - Electric power consumption is measured in...Ch. 17 - The weekly demand (in cases) for a particular...Ch. 17 - The following table reports the percentage of...Ch. 17 - United Dairies, Inc., supplies milk to several...Ch. 17 - Annual retail store revenue for Apple from 2007 to...Ch. 17 - The Mayfair Department Store in Davenport, Iowa,...Ch. 17 - Prob. 47SECh. 17 - The Costello Music Company has been in business...Ch. 17 - Consider the Costello Music Company problem in...Ch. 17 - Prob. 50SECh. 17 - Refer to the Costello Music Company time series in...Ch. 17 - Prob. 52SECh. 17 - Refer to the Hudson Marine problem in exercise 52....Ch. 17 - Refer to the Hudson Marine problem in exercise...Ch. 17 - Refer to the Hudson Marine data in exercise...Ch. 17 - Forecasting Food and Beverage Sales
The Vintage...Ch. 17 - The Carlson Department Store suffered heavy damage...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Frequency 11 A polling organization wants to find out what voters think of Issue X. It chooses a random sample of voters and asks them for their opinions of Issue X: yes, no, or no opinion. I organize the results in the following bar graph. a. Make a frequency table of these results (including the total number). brocb. Evaluate the bar graph as to whether it biz s b fairly represents the results. of beau no STORE TO OW! vd wob spind 550 540 500 vd 480 420 360 300 250 240 Yes No Undecided Opinion on Issue Xarrow_forwardPercent 13 A car dealer specializing in minivan sales saibe conducts a survey to find out more about who its customers are. One of the variables at the company measures is gender; the results of this part of the survey are shown in the following bar graph. pow a. Interpret these results. b. Explain whether you think the bar graph is a fair and accurate representation of this data. 70 Gender of Customers 60 50 40 30 20 10 0 Males Femalesarrow_forwardThree cat- ency bar 10 Suppose that a health club asks 30 customers ad to rate the services as very good (1), good (2), fair (3), or poor (4). You can see the results in the following bar graph. What percentage of the customers rated the services as good? n; 2: pinion). of this to make a eople in ng ban?) Health Club Customer Ratings (1-very good,..., 4-poor) Frequency 10 8 00 6 11 A polling orga what voters t random samp for their opin no opinion. following ba a. Make a (includ bob. Evalua fairly tral 2 0 1 -2 3 4 540 480 420 360 300 240 Frequencyarrow_forward
- 1 - Multiple Regression Equations and Predictions with XLMiner Analysis ToolPak (Structured) Video The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures. Historical data for a sample of eight weeks are entered into the Microsoft Excel Online file below. Use the XLMiner Analysis ToolPak to perform your regression analysis in the designated areas of the spreadsheet. 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 X Open spreadsheet a. Develop an estimated regression equation with the amount of television advertising as the independent variable (to 2 decimals). JAN 27 Revenue = × TVAdv + b. Develop an estimated regression equation with both television advertising and newspaper advertising as the independent variables (to 2 decimals). Revenue = + TVAdy + NewsAdv c. Is the estimated regression equation coefficient for…arrow_forwardQuestion 2: When John started his first job, his first end-of-year salary was $82,500. In the following years, he received salary raises as shown in the following table. Fill the Table: Fill the following table showing his end-of-year salary for each year. I have already provided the end-of-year salaries for the first three years. Calculate the end-of-year salaries for the remaining years using Excel. (If you Excel answer for the top 3 cells is not the same as the one in the following table, your formula / approach is incorrect) (2 points) Geometric Mean of Salary Raises: Calculate the geometric mean of the salary raises using the percentage figures provided in the second column named “% Raise”. (The geometric mean for this calculation should be nearly identical to the arithmetic mean. If your answer deviates significantly from the mean, it's likely incorrect. 2 points) Hint for the first part of question 2: To assist you with filling out the table in the first part of the question,…arrow_forwardConsider a sample with data values of 27, 25, 20, 15, 30, 34, 28, and 25. Compute the range, interquartile range, variance, and standard deviation (to a maximum of 2 decimals, if decimals are necessary). Range Interquartile range Variance Standard deviationarrow_forward
- Perform a Step by step following tests in Microsoft Excel. Each of the following is 0.5 points, with a total of 6 points. Provide your answers in the following table. Median Standard Deviation Minimum Maximum Range 1st Quartile 2nd Quartile 3rd Quartile Skewness; provide a one sentence explanation of what does the skewness value indicates Kurtosis; provide a one sentence explanation of what does the kurtosis value indicates Make a labelled histogram; no point awarded if it is not labelled Make a labelled boxplot; no point awarded if it is not labelled Data 27 30 22 25 24 22 20 28 20 26 21 23 24 20 28 30 20 28 29 30 21 26 29 25 26 25 20 30 26 28 25 21 22 27 27 24 26 22 29 28 30 22 22 22 30 21 21 30 26 20arrow_forwardObtain the linear equation for trend for time series with St² = 140, Ey = 16.91 and Σty= 62.02, m n = 7arrow_forwardA quality characteristic of a product is normally distributed with mean μ and standard deviation σ = 1. Speci- fications on the characteristic are 6≤x≤8. A unit that falls within specifications on this quality characteristic results in a profit of Co. However, if x 8, the profit is -C2. Find the value ofμ that maximizes the expected profit.arrow_forward
- A) The output voltage of a power supply is normally distributed with mean 5 V and standard deviation 0.02 V. If the lower and upper specifications for voltage are 4.95 V and 5.05 V, respectively, what is the probability that a power supply selected at random conform to the specifications on voltage? B) Continuation of A. Reconsider the power supply manufacturing process in A. Suppose We wanted to improve the process. Can shifting the mean reduce the number of nonconforming units produced? How much would the process variability need to be reduced in order to have all but one out of 1000 units conform to the specifications?arrow_forwardder to complete the Case X T Civil Service Numerical Test Sec X T Casework Skills Practice Test Maseline Vaseline x + euauthoring.panpowered.com/DeliveryWeb/Civil Service Main/84589a48-6934-4b6e-a6e1-a5d75f559df9?transferToken-News NGSSON The table below shows the best price available for various items from 4 uniform suppliers. The prices do not include VAT (charged at 20%). Item Waterproof boots A1-Uniforms (£)Best Trade (£)Clothing Tech (£)Dress Right (£) 59.99 39.99 59.99 49.99 Trousers 9.89 9.98 9.99 11.99 Shirts 14.99 15.99 16.99 12.99 Hi-Vis vest 4.49 4.50 4.00 4.00 20.00 25.00 19.50 19.99 Hard hats A company needs to buy a set of 12 uniforms which includes 1 of each item. If the special offers are included which supplier is cheapest? OOO A1-Uniforms Best Trade Clothing Tech Q Search + ** 109 8 CO* F10 Home F11 F12 6arrow_forwardto complete the Case × T Civil Service Numerical Test Sec x T Casework Skills Practice Test + Vaseline euauthoring.panpowered.com/DeliveryWeb/Civil Service Main/84589a48-b934-4b6e-a6e1-a5d75f559df9?transferToken=MxNewOS NGFSPSZSMOMzuz The table below shows the best price available for various items from 4 uniform suppliers. The prices do not include VAT (charged at 20%). Item A1-Uniforms (£)Best Trade (£)Clothing Tech (£)Dress Right (£) Waterproof boots 59.99 39.99 59.99 49.99 Trousers 9.89 9.98 9.99 11.99 Shirts 14.99 15.99 16.99 12.99 Hi-Vis vest 4.49 4.50 4.00 4.00 20.00 25.00 19.50 19.99 Hard hats A company needs to buy a set of 12 uniforms which includes 1 of each item. If the special offers are included, which supplier is cheapest? O O O O A1-Uniforms Best Trade Clothing Tech Dress Right Q Search ENG L UK +0 F6 四吧 6 78 ㄓ F10 9% * CO 1 F12 34 Oarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Functions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
College AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
Functions and Change: A Modeling Approach to Coll...
Algebra
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Cengage Learning
College Algebra
Algebra
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
Time Series Analysis Theory & Uni-variate Forecasting Techniques; Author: Analytics University;https://www.youtube.com/watch?v=_X5q9FYLGxM;License: Standard YouTube License, CC-BY
Operations management 101: Time-series, forecasting introduction; Author: Brandoz Foltz;https://www.youtube.com/watch?v=EaqZP36ool8;License: Standard YouTube License, CC-BY