Elementary Statistics 2nd Edition
2nd Edition
ISBN: 9781259724275
Author: William Navidi, Barry Monk
Publisher: McGraw-Hill Education
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Question
Chapter 2.3, Problem 26E
(a)
To determine
To construct:
A time-series plot for the provided dataset.
(b)
To determine
To find:
The trend in the vacancy during the period December 2009 - December 2012.
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In retail, a store manager uses time series models to understand shopping trends.
Review the scatter plot of the store’s sales from 2010 through 2021 to answer the questions. See attached as image.
Here is the data for Fiscal Year and Sales:
Fiscal Year
Sales
2010
$260,123.00
2011
$256,853.00
2012
$274,366.00
2013
$290,525.00
2014
$322,318.00
2015
$380,921.00
2016
$541,925.00
2017
$909,050.00
2018
$1,817,521.00
2019
$3,206,564.00
2020
$4,921,005.00
2021
$5,686,338.00
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The model can be additive or multiplicative. When do you use each?
Review the scatter plot of the exponential trend of the time series data. Do you observe a trend? If so, what type of trend do you observe?
What predictions might you make about the store’s annual sales over the next few years?
The accompanying data represent health care expenditures per capita (per person) as a percentage of the U.S. gross domestic product (GDP) from 2007 to 2013. Gross domestic product is the total value of all goods and services created during the course
of the year Complete parts (a) through (c) below.
Click the icon to view the data table.
(a) Construct a time-series plot that a politician would create to support the position that health care expenditures are increasing and must be slowed. Choose the correct graph below
OD.
O C.
OB
OA
A
Q
A
Q
Q
25,000+
11,000
Q
Q
3
2
G
HIER
11200
2H
7,000++
C
2013
of
+
2013
2007
2007
Year
Year
Year
(b) Construct a time-series plot that the health care industry would create to refute the opinion of the politician. Choose the correct graph below.
OB.
O C.
O A.
A
Q
A
Q
11,000
Q
(C)
7,000+
201
20
7.000+++++++*
2007
2007
2013
2013
Year
Year
(c) Explain how different measures may be used to support two completely different positions. Choose the correct answer…
For the Texas Shipping Company, the monthly percentages of all shipments received on time over the past 12 months are 82, 86, 87, 89, 84, 85, 84, 86, 75, 95,
90, and 92.
a. Construct a time series plot (you can include it in the work file question at the end, not here). Identify what type of pattern, if any, exists in the data?
Compare the three-month moving average forecast with an exponential smoothing forecast for alpha= 0.25 and answer the following:
b. MSE for 3-month moving average method
c. MSE for exponential-smoothing method :
d. Which method should be preferred? Answer "3-month MA" or "Exponential Smoothing":
e. What is the forecast for next month using the preferred method?
Chapter 2 Solutions
Elementary Statistics 2nd Edition
Ch. 2.1 - In Exercises 5-8, fill in each blank with the...Ch. 2.1 - In Exercises 5-8, fill in each blank with the...Ch. 2.1 - In Exercises 5-8, fill in each blank with the...Ch. 2.1 - In Exercises 5-8, fill in each blank with the...Ch. 2.1 - In Exercises 9—12, determine whether the...Ch. 2.1 - In Exercises 9—12, determine whether the...Ch. 2.1 - In Exercises 9—12, determine whether the...Ch. 2.1 - In Exercises 9—12, determine whether the...Ch. 2.1 - The following bar graph presents the average...Ch. 2.1 - The most common blood typing system divides human...
Ch. 2.1 - Following is a pie chart that presents the...Ch. 2.1 - Prob. 16ECh. 2.1 - Food sources: The following side-by-side bar graph...Ch. 2.1 - Prob. 18ECh. 2.1 - Prob. 19ECh. 2.1 - Popular video games: The following frequency...Ch. 2.1 - More iPods: Using the data in exercise 19:...Ch. 2.1 - Prob. 22ECh. 2.1 - Prob. 23ECh. 2.1 - World population: Following are the populations of...Ch. 2.1 - Ages of video garners: The Nielsen Company...Ch. 2.1 - How secure is your job? In a survey, employed...Ch. 2.1 - Back up your data: In a survey commissioned by the...Ch. 2.1 - Education levels: The following frequency...Ch. 2.1 - Music sales: The following frequency distribution...Ch. 2.1 - Bought a new car lately? The following table...Ch. 2.1 - Instagram followers: The following frequency...Ch. 2.1 - Smartphones: The following table present the...Ch. 2.1 - Smartphone sale: The following table presents the...Ch. 2.1 - Happy Halloween: The following table presents...Ch. 2.1 - Native languages: The following frequency...Ch. 2.2 - Prob. 5ECh. 2.2 - In Exercises 5—8, fill in each blank with the...Ch. 2.2 - In Exercises 5—8, fill in each blank with the...Ch. 2.2 - In Exercises 5—8, fill in each blank with the...Ch. 2.2 - In Exercises 9—12, determine whether the...Ch. 2.2 - In Exercises 9—12, determine whether the...Ch. 2.2 - In Exercises 9—12, determine whether the...Ch. 2.2 - In Exercises 9—12, determine whether the...Ch. 2.2 - In Exercises 13—16, classify the histogram as...Ch. 2.2 - In Exercises 13—16, classify the histogram as...Ch. 2.2 - In Exercises 13—16, classify the histogram as...Ch. 2.2 - In Exercises 13—16, classify the histogram as...Ch. 2.2 - In Exercises 17 and 18, classify the histogram as...Ch. 2.2 - In Exercises 17 and 18, classify the histogram as...Ch. 2.2 - Student heights: The following frequency histogram...Ch. 2.2 - Trained rats: Forty rats were trained to run a...Ch. 2.2 - Prob. 21ECh. 2.2 - Prob. 22ECh. 2.2 - Prob. 23ECh. 2.2 - Prob. 24ECh. 2.2 - Batting average: The following frequency...Ch. 2.2 - Batting average: The following frequency...Ch. 2.2 - Time spent playing video games: A sample of 200...Ch. 2.2 - Murder, she wrote: The following frequency...Ch. 2.2 - BMW prices: The following table presents the...Ch. 2.2 - Geysers: The geyser Old Faithful in Yellowstone...Ch. 2.2 - Hail to the chief: There have been 58 presidential...Ch. 2.2 - Internet radio: The following table presents the...Ch. 2.2 - Brothers and sisters: Thirty students in a...Ch. 2.2 - Cough, cough: The following table presents the...Ch. 2.2 - Prob. 35ECh. 2.2 - Frequency polygon: Using the data in Exercise 26:...Ch. 2.2 - Frequency polygon: Using data in Exercise 27:...Ch. 2.2 - Prob. 38ECh. 2.2 - Ogive: Using the data in Exercise 25 Compute the...Ch. 2.2 - Ogive: Using the data in Exercise 26: Compute the...Ch. 2.2 - Ogive: Using the data in Exercise 27: Compute the...Ch. 2.2 - Prob. 42ECh. 2.2 - Prob. 43ECh. 2.2 - Prob. 44ECh. 2.2 - Prob. 45ECh. 2.2 - Prob. 46ECh. 2.2 - Prob. 47ECh. 2.2 - Prob. 48ECh. 2.3 - In Exercises 3—6, fill in each blank with the...Ch. 2.3 - In Exercises 3—6, fill in each blank with the...Ch. 2.3 - In Exercises 3—6, fill in each blank with the...Ch. 2.3 - In Exercises 3—6, fill in each blank with the...Ch. 2.3 - Prob. 7ECh. 2.3 - In Exercises 7—10, determine whether the...Ch. 2.3 - In Exercises 7—10, determine whether the...Ch. 2.3 - In Exercises 7—10, determine whether the...Ch. 2.3 - Construct a stem-and-leaf plot for the following...Ch. 2.3 - Construct a stem-and-leaf plot for the following...Ch. 2.3 - List the data in the following stem-and-leaf plot....Ch. 2.3 - List the data in the following stein-and-leaf...Ch. 2.3 - Construct a dotplot for the data in Exercise 11.Ch. 2.3 - Prob. 16ECh. 2.3 - BMW prices: The following table presents the...Ch. 2.3 - Hows the weather? The following table presents the...Ch. 2.3 - Air pollution: The following table presents...Ch. 2.3 - Technology salaries: The following table presents...Ch. 2.3 - Tennis and golf: Following are the ages of the...Ch. 2.3 - Pass the popcorn: Following are the running times...Ch. 2.3 - More weather: Construct a dotplot for the data in...Ch. 2.3 - Prob. 24ECh. 2.3 - Prob. 25ECh. 2.3 - Prob. 26ECh. 2.3 - Prob. 27ECh. 2.3 - Prob. 28ECh. 2.3 - Prob. 29ECh. 2.3 - Prob. 30ECh. 2.3 - Prob. 31ECh. 2.3 - Prob. 32ECh. 2.3 - Prob. 33ECh. 2.3 - Article ice sheet: the following table presents...Ch. 2.3 - Prob. 35ECh. 2.4 - In Exercises 3 and 4, fill in each blank with the...Ch. 2.4 - In Exercises 3 and 4, fill in each blank with the...Ch. 2.4 - CD sales decline: Sales of CDs have been declining...Ch. 2.4 - Prob. 6ECh. 2.4 - Prob. 7ECh. 2.4 - Prob. 8ECh. 2.4 - Prob. 9ECh. 2.4 - Prob. 10ECh. 2.4 - Prob. 11ECh. 2.4 - Age at marriage: Data compiled by the U.S. Census...Ch. 2.4 - College degrees: Both of the following time-series...Ch. 2.4 - Prob. 14ECh. 2.4 - Prob. 15ECh. 2 - Following is the list of letter grades for...Ch. 2 - Prob. 2CQCh. 2 - Construct a frequency bar graph for the data in...Ch. 2 - Prob. 4CQCh. 2 - Prob. 5CQCh. 2 - Prob. 6CQCh. 2 - Prob. 7CQCh. 2 - Prob. 8CQCh. 2 - Prob. 9CQCh. 2 - Prob. 10CQCh. 2 - Following are the prices (in dollars) for a sample...Ch. 2 - Prob. 12CQCh. 2 - Prob. 13CQCh. 2 - Prob. 14CQCh. 2 - Prob. 15CQCh. 2 - Trust your doctor: The General Social Survey...Ch. 2 - Internet browsers: The following relative...Ch. 2 - Prob. 3RECh. 2 - Prob. 4RECh. 2 - Prob. 5RECh. 2 - House freshmen: Newly elected members of the U.S....Ch. 2 - More freshmen: For the data in Exercise 6:...Ch. 2 - Royalty: Following are the ages at death for all...Ch. 2 - Prob. 9RECh. 2 - Prob. 10RECh. 2 - Prob. 11RECh. 2 - Prob. 12RECh. 2 - Prob. 13RECh. 2 - Prob. 14RECh. 2 - Falling birth rate: The following time-series...Ch. 2 - Explain why the frequency bar graph and the...Ch. 2 - Prob. 2WAICh. 2 - Prob. 3WAICh. 2 - Prob. 4WAICh. 2 - Prob. 5WAICh. 2 - In the chapter introduction, we presented gas...Ch. 2 - In the chapter introduction, we presented gas...Ch. 2 - In the chapter introduction, we presented gas...Ch. 2 - Prob. 4CSCh. 2 - In the chapter introduction, we presented gas...Ch. 2 - Prob. 6CSCh. 2 - In the chapter introduction, we presented gas...Ch. 2 - Prob. 8CSCh. 2 - In the chapter introduction, we presented gas...
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