EBK BASIC BUSINESS STATISTICS
14th Edition
ISBN: 9780134685168
Author: STEPHAN
Publisher: YUZU
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Textbook Question
Chapter 2, Problem 78PS
Why would you construct a summary table?
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Could you please answer this question using excel. For 1a) I got 84.75 and for part 1b) I got 85.33 and was wondering if you could check if my answers were correct. Thanks
What is one sample T-test? Give an example of business application of this test?
What is Two-Sample T-Test. Give an example of business application of this test?
.What is paired T-test. Give an example of business application of this test?
What is one way ANOVA test. Give an example of business application of this test?
1. One Sample T-Test: Determine whether the average satisfaction rating of customers for a product is significantly different from a hypothetical mean of 75.
(Hints: The null can be about maintaining status-quo or no difference; If your alternative hypothesis is non-directional (e.g., μ≠75), you should use the two-tailed p-value from excel file to make a decision about rejecting or not rejecting null. If alternative is directional (e.g., μ < 75), you should use the lower-tailed p-value. For alternative hypothesis μ > 75, you should use the upper-tailed p-value.)
H0 =
H1=
Conclusion: The p value from one sample t-test is _______. Since the two-tailed p-value…
Using the accompanying Accounting Professionals data to answer the following questions.
a. Find and interpret a 90% confidence interval for the mean years of service.
b. Find and interpret a 90% confidence interval for the proportion of employees who have a graduate degree.
view the Accounting Professionals data.
Employee Years of Service Graduate Degree?1 26 Y2 8 N3 10 N4 6 N5 23 N6 5 N7 8 Y8 5 N9 26 N10 14 Y11 10 N12 8 Y13 7 Y14 27 N15 16 Y16 17 N17 21 N18 9 Y19 9 N20 9 N
Question content area bottom
Part 1
a. A 90% confidence interval for the mean years of service is
(Use ascending order. Round to two decimal places as needed.)
Chapter 2 Solutions
EBK BASIC BUSINESS STATISTICS
Ch. 2 - A categorical variable has three categories, with...Ch. 2 - The following data represent the responses to two...Ch. 2 - The following table, stored in Smartphones Sales,...Ch. 2 - The Consumer Financial Protection Bureau reports...Ch. 2 - In addition to the impact of Big Data, what...Ch. 2 - This table represents the summer power-generating...Ch. 2 - Timetric’s 2016 survey of insurance...Ch. 2 - A survey of 1,520 Americans adults asked “Do you...Ch. 2 - A study of selected Kickstarter projects showed...Ch. 2 - Do special recommendations increase ad...
Ch. 2 - Construct an ordered array, given the following...Ch. 2 - Construct an ordered array, given the following...Ch. 2 - Planning and preparing for the unexpected,...Ch. 2 - Data was collected on salaries of compliance...Ch. 2 - The file NBACost contains the total cost ($ ) for...Ch. 2 - The file Utility contains the following data about...Ch. 2 - How much time do commuters living in or near...Ch. 2 - How do the average credit scores of people living...Ch. 2 - One operation of a mill is to cut pieces of steel...Ch. 2 - Call centers today play an important role in...Ch. 2 - The financial service call centre in problem 2.20...Ch. 2 - The file Bulbs contains the life (in hours) of a...Ch. 2 - The file Drink Contains the following data for the...Ch. 2 - A survey of online shoppers revealed that in 2015...Ch. 2 - How do college students spend their day? The 2016...Ch. 2 - The Energy Information Administration reported the...Ch. 2 - The Consumer Financial Protection Bureau reports...Ch. 2 - The following table indicates the percentage of...Ch. 2 - Timetric’s 2016 survey of insurance...Ch. 2 - A survey of 1,520 American adults asked “Do you...Ch. 2 - A study of selected Kickstarter projects showed...Ch. 2 - Do special recommendations increase ad...Ch. 2 - Construct a stern-and-leaf display, given the...Ch. 2 - Construct an ordered array, given the following...Ch. 2 - The following is a stern-and0-leaf display...Ch. 2 - The file NBACost contains the total cost in$ for...Ch. 2 - The file MobileSpeed contains the overall download...Ch. 2 - The file Utility contains the following data about...Ch. 2 - As player salaries have increases, the cost of...Ch. 2 - The following histogram and cumulative percentage...Ch. 2 - How much time do Americans living in cities spend...Ch. 2 - How do the average credit scores of people living...Ch. 2 - One operation of a mill is to cut pieces of steel...Ch. 2 - Call centers today play an important role in...Ch. 2 - The financial service call center in problem 2.44...Ch. 2 - The file Bulbs contains the life (in hours) of a...Ch. 2 - The data stored in Drink represents the amount of...Ch. 2 - The following is a set of data from a sample of...Ch. 2 - The following is a series of annual sales...Ch. 2 - Movie companies need to predict the gross receipts...Ch. 2 - Data were collected on the typical cost of dining...Ch. 2 - The file Mobile contains the overall download and...Ch. 2 - A Pew Research Center survey found a noticeable...Ch. 2 - How have stocks performed in the past? The...Ch. 2 - The file NewHomeSales contains the number of new...Ch. 2 - The file Movie Attendance 16 contains the yearly...Ch. 2 - The Super Bowl is a big viewing event watched by...Ch. 2 - Using the sample of retirement funds stored in...Ch. 2 - Using the sample of retirement funds stored in...Ch. 2 - Prob. 60PSCh. 2 - Using the sample of retirement funds stored in...Ch. 2 - Prob. 62PSCh. 2 - Using the sample of retirement funds stored in...Ch. 2 - Prob. 64PSCh. 2 - Using the sample of retirement funds stored in...Ch. 2 - Prob. 66PSCh. 2 - Prob. 67PSCh. 2 - Prob. 68PSCh. 2 - Prob. 71PSCh. 2 - Prob. 72PSCh. 2 - Examine the following visualization, adapted from...Ch. 2 - Prob. 75PSCh. 2 - Prob. 76PSCh. 2 - How do histograms and polygons differ in...Ch. 2 - Why would you construct a summary table?Ch. 2 - What are the advantages and disadvantage of using...Ch. 2 - Compare and contrast the bar chart for categorical...Ch. 2 - What is the difference between a time-series plot...Ch. 2 - Why is it said that the main feature of a Pareto...Ch. 2 - What are the three different ways to break down...Ch. 2 - How can a multidimensional table differ from a...Ch. 2 - What type of insights can you gain from a...Ch. 2 - Prob. 86PSCh. 2 - What is the difference between a time-series plot...Ch. 2 - The following table shown in the TextbookCosts...Ch. 2 - The following table represents the market share...Ch. 2 - B2B marketers in North America were surveyed about...Ch. 2 - The owner of a restaurant that services...Ch. 2 - Suppose that the owner of the restaurant in...Ch. 2 - The following data represents the pounds per...Ch. 2 - The Air Travel Consumer Report, a monthly product...Ch. 2 - One of the major measures of the quality of...Ch. 2 - The file DomesticBeer Contains the percentage...Ch. 2 - Prob. 97PSCh. 2 - The file CDRate contains the yields for one-year...Ch. 2 - The file CEO 2016 includes the total compensation...Ch. 2 - Prob. 100PSCh. 2 - What was the average price of a room at two-star,...Ch. 2 - The file Protein contains calorie and cholesterol...Ch. 2 - The file Natural Gas contains the U.S. monthly...Ch. 2 - The data stored in Drink represent the amount of...Ch. 2 - Prob. 105PSCh. 2 - A/B testing allows business to test a new design...Ch. 2 - Referring to the results from Problem 2.100 on...
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- If, based on a sample size of 900,a political candidate finds that 509people would vote for him in a two-person race, what is the 95%confidence interval for his expected proportion of the vote? Would he be confident of winning based on this poll? Question content area bottom Part 1 A 9595% confidence interval for his expected proportion of the vote is (Use ascending order. Round to four decimal places as needed.)arrow_forwardQuestions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardA population that is uniformly distributed between a=0and b=10 is given in sample sizes 50( ), 100( ), 250( ), and 500( ). Find the sample mean and the sample standard deviations for the given data. Compare your results to the average of means for a sample of size 10, and use the empirical rules to analyze the sampling error. For each sample, also find the standard error of the mean using formula given below. Standard Error of the Mean =sigma/Root Complete the following table with the results from the sampling experiment. (Round to four decimal places as needed.) Sample Size Average of 8 Sample Means Standard Deviation of 8 Sample Means Standard Error 50 100 250 500arrow_forward
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- Questions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardQuestions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.arrow_forwardFrom a sample of 26 graduate students, the mean number of months of work experience prior to entering an MBA program was 34.67. The national standard deviation is known to be18 months. What is a 90% confidence interval for the population mean? Question content area bottom Part 1 A 9090% confidence interval for the population mean is left bracket nothing comma nothing right bracketenter your response here,enter your response here. (Use ascending order. Round to two decimal places as needed.)arrow_forward
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