Business Statistics: A First Course (7th Edition)

7th Edition

ISBN: 9780321979018

Author: David M. Levine, Kathryn A. Szabat, David F. Stephan

Publisher: PEARSON

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Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as p…

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Textbook Question

Chapter 3, Problem 3.13AC

Is there a difference in the variation of the yields of different types of investments? The fileÂ CD RateÂ contains the yields for one-year certificates of deposit (CDs) and five-year CDs for 22 banks in the United States, as of March 12, 2014.

For one-year and five-year CDs, separately compute the variance, standard deviation, range, and coefficient of variation.
Based on the results of (a), do one-year CDs or five-year CDs have more variation in the yields offered? Explain.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 3, Problem 3.12AC

Chapter 3, Problem 3.14AC

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Chapter 3 Solutions

Business Statistics: A First Course (7th Edition)

Ch. 3 - The following set of data is from a sample of n =...Ch. 3 - The following set of data is from a sample of n =...Ch. 3 - The set of data is from a sample of n = 7: 12 7 4...Ch. 3 - The following set of data is from a sample of n =...Ch. 3 - Prob. 3.5AC Ch. 3 - The operations manager of a plant that...Ch. 3 - Prob. 3.7AC Ch. 3 - Prob. 3.8AC Ch. 3 - The fileÂ SedansÂ contains the overall miles per...Ch. 3 - Prob. 3.10AC

Ch. 3 - Prob. 3.11AC Ch. 3 - Prob. 3.12AC Ch. 3 - Is there a difference in the variation of the...Ch. 3 - Prob. 3.14AC Ch. 3 - A bank branch located in a commercial district of...Ch. 3 - Prob. 3.16AC Ch. 3 - Using the three-year return percentage variable in...Ch. 3 - Prob. 3.18AC Ch. 3 - Using the three-year return percentage variable in...Ch. 3 - Using the three-year return percentage variable in...Ch. 3 - Prob. 3.21LB Ch. 3 - The following is a set of data from a sample of n...Ch. 3 - Prob. 3.23LB Ch. 3 - Prob. 3.24LB Ch. 3 - Prob. 3.25AC Ch. 3 - The fileÂ MarketPenetrationÂ contains Facebook...Ch. 3 - Prob. 3.27AC Ch. 3 - Prob. 3.28AC Ch. 3 - Prob. 3.29AC Ch. 3 - Prob. 3.30AC Ch. 3 - Prob. 3.31LB Ch. 3 - The following is a set of data for a population...Ch. 3 - Consider a population of 1,024 mutual funds that...Ch. 3 - Prob. 3.35AC Ch. 3 - The fileÂ EnergyÂ contains the per capita energy...Ch. 3 - Prob. 3.37AC Ch. 3 - The following is a set of data from a sample of n...Ch. 3 - Prob. 3.39AC Ch. 3 - The file CEREALS lists the calories and sugar, in...Ch. 3 - Movie companies need to predict the gross receipts...Ch. 3 - Prob. 3.42AC Ch. 3 - Prob. 3.43AC Ch. 3 - Prob. 3.44CYU Ch. 3 - Prob. 3.45CYU Ch. 3 - What are the differences among the mean, median,...Ch. 3 - Prob. 3.47CYU Ch. 3 - Prob. 3.48CYU Ch. 3 - Prob. 3.49CYU Ch. 3 - Prob. 3.50CYU Ch. 3 - Prob. 3.51CYU Ch. 3 - Prob. 3.52CYU Ch. 3 - Prob. 3.53CYU Ch. 3 - Prob. 3.54CYU Ch. 3 - Prob. 3.55CYU Ch. 3 - How do the covariance and the coefficient of...Ch. 3 - Prob. 3.57CRP Ch. 3 - Prob. 3.58CRP Ch. 3 - One of the major measures of the quality of...Ch. 3 - Prob. 3.60CRP Ch. 3 - The manufacturing company in Problem 3.60 also...Ch. 3 - Prob. 3.62CRP Ch. 3 - Prob. 3.63CRP Ch. 3 - Prob. 3.64CRP Ch. 3 - Prob. 3.66CRP Ch. 3 - The fileÂ PropertyTaxesÂ contains the property...Ch. 3 - 311 is Chicagos web and phone portal for...Ch. 3 - How much time do Americans living in or near...Ch. 3 - You are planning to study for your statistics...Ch. 3 - Prob. 3.74RWE

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Solution Summary: The author calculates the variance, standard deviation, range, and coefficient of variation for one year and five year CDs for 22 banks in United States.

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