EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Textbook Question
Chapter 3, Problem 4CP
Heavenly Chocolates Website Transactions
Heavenly Chocolates manufactures and sells quality chocolate products at its plant and retail store located in Saratoga Springs, New York. Two years ago the company developed a website and began selling its products over the Internet. Website sales have exceeded the company’s expectations, and mangement is now considering stragegies to increase sales even further. To learn more about the website customers, a sample of 50 Heavenly Chocolate transactions was selected from the previous month’s sales. Data showing the day of the week each transaction was made, the type of browser the customer used, the time spent on the website, the number of website pages viewed, and the amount spent by each of the 50 customers are contained in the file named Shoppers. A portion of the data are shown in Table 3.12.
Heavenly Chocolates would like to use the sample data to determine if online shoppers who spend more time and view more pages also spend more money during their visit to the website. The company would also like to investigate the effect that the day of the week and the type of browser have on sales.
Managerial Report
Use the methods of
- 1. Graphical and numerical summaries for the length of time the shopper spends on the website, the number of pages viewed, and the mean amount spent per transaction. Discuss what you learn about Heavenly Cholcolates’ online shoppers from these numerical summaries.
- 2. Summarize the frequency, the total dollars spent, and the mean amount spent per transaction for each day of week. What observations can you make about Hevenly Chocolates’ business based on the day of the week? Discuss.
- 3. Summarize the frequency, the total dollars spent, and the mean amount spent per transaction for each type of browser. What observations can you make about Heavenly Chocolate’s business based on the type of browser? Discuss.
- 4. Develop a
scatter diagram and compute the samplecorrelation coefficient to explore the relationship between the time spent on the website and the dollar amount spent. Use the horizontal axis for the time spent on the website. Discuss. - 5. Develop a scatter diagram and compute the sample correlation coefficient to explore the relationship between the the number of website pages viewed and the amount spent. Use the horizontal axis for the number of website pages viewed. Discuss.
- 6. Develop a scatter diagram and compute the sample correlation coefficient to explore the relationship between the time spent on the website and the number of pages viewed. Use the horizontal axis to represent the number of pages viewed. Discuss.
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Question 3
The following stem-and-leaf displays the weekly salary of employees at this firm.
Stem-and-Leaf Display
Leaf Unit = 10.0
N=x
5
3 00123
12 4 0125888
(y)
5 11234456777
z
6 13568
5
7 154
2
8 46
i.
Determine the value of x, y and z.
[3]
ii. What is the value of the median?
[2]
iii.
Find the mode of this data set.
iv.
Calculate the range
[1]
[2]
Let Y be a continuous RV with PDF
otherwise
Find the CDF, Fry), of Y .
Find an expression for pth, p € (0, 1), quantile of the distribution.
Find E(Y) and V(Y).
Find E(-2Y + 1) and V(-3Y - 2).
Find E(Y3).
Let X be a continuous RV with CDF
Find P(X < 0), P(-1 < X < 1) and P(0.5 < X).
Based on your answers to the above questions, what is the median of the distribu-tion? Why
Find the PDF, fx (x), of X.
Chapter 3 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
Ch. 3.1 - Consider a sample with data values of 10, 20, 12,...Ch. 3.1 - Consider a sample with data values of 10, 20, 21,...Ch. 3.1 - Consider the following data and corresponding...Ch. 3.1 - Consider the following data. Period Rate of Return...Ch. 3.1 - Consider a sample with data values of 27, 25, 20,...Ch. 3.1 - Consider a sample with data values of 53, 55, 70,...Ch. 3.1 - The average number of minutes Americans commute to...Ch. 3.1 - During the 2007-2008 NCAA college basketball...Ch. 3.1 - Endowment income is a critical part of the annual...Ch. 3.1 - The cost of consumer purchases such as...
Ch. 3.1 - According to the National Education Association...Ch. 3.1 - The Big Bang Theory, a situation comedy featuring...Ch. 3.1 - In automobile mileage and gasoline-consumption...Ch. 3.1 - The data contained in the file named StateUnemp...Ch. 3.1 - Martinez Auto Supplies has retail stores located...Ch. 3.1 - The grade point average for college students is...Ch. 3.1 - The following table shows the total return and the...Ch. 3.1 - Based on a survey of masters programs in business...Ch. 3.1 - Annual revenue for Corning Supplies grew by 5.5%...Ch. 3.1 - Suppose that at the beginning of 2004 you invested...Ch. 3.1 - If an asset declines in value from 5000 to 3500...Ch. 3.1 - The current value of a company is 25 million. If...Ch. 3.2 - Consider a sample with data values of 10, 20, 12,...Ch. 3.2 - Consider a sample with data values of 10, 20, 12,...Ch. 3.2 - Consider a sample with data values of 27, 25, 20,...Ch. 3.2 - A bowlers scores for six games were 182, 168, 184,...Ch. 3.2 - The results of a search to find the least...Ch. 3.2 - The Australian Open is the first of the four grand...Ch. 3.2 - The Los Angeles times regularly reports the air...Ch. 3.2 - The following data were used to construct the...Ch. 3.2 - The results of Accounting Principals latest...Ch. 3.2 - Prob. 32ECh. 3.2 - Scores turned in by an amateur golfer at the...Ch. 3.2 - The following times were recorded by the...Ch. 3.3 - Consider a sample with data values of 10, 20, 12,...Ch. 3.3 - Consider a sample with a mean of 500 and a...Ch. 3.3 - Consider a sample with a mean of 30 and a standard...Ch. 3.3 - Suppose the data have a bell-shaped distribution...Ch. 3.3 - The results of a national survey showed that on...Ch. 3.3 - The energy information Administration reported...Ch. 3.3 - The national average for the math portion of the...Ch. 3.3 - Many families in California are using backyard...Ch. 3.3 - Florida Power Light (FPL) Company has enjoyed a...Ch. 3.3 - A sample of 10 NCAA college basketball game scores...Ch. 3.3 - The Associated Press Team Marketing Report listed...Ch. 3.4 - Consider a sample with data values of 27, 25, 20,...Ch. 3.4 - Prob. 47ECh. 3.4 - Prob. 48ECh. 3.4 - A data set has a first quartile of 42 and a third...Ch. 3.4 - Naples, Florida, hosts a half-marathon (13.1-mile...Ch. 3.4 - Annual sales, in millions of dollars, for 21...Ch. 3.4 - Consumer Reports provided overall customer...Ch. 3.4 - The Philadelphia Phillies defeated the Tampa Bay...Ch. 3.4 - A listing of 46 mutual funds and their 12-month...Ch. 3.5 - Five observations taken for two variables follow....Ch. 3.5 - Five observations taken for two variables follow....Ch. 3.5 - Ten major college football bowl games were played...Ch. 3.5 - A department of transportations study on driving...Ch. 3.5 - At the beginning of 2009, the economic downturn...Ch. 3.5 - The Dow Jones Industrial Average (DJIA) and the...Ch. 3.5 - Prob. 61ECh. 3 - The average number of times Americans dine out in...Ch. 3 - The U.S. Census Bureau provides statistics on...Ch. 3 - The average waiting time for a patient at an El...Ch. 3 - The U.S. Department of Education reports that...Ch. 3 - Small business owners often look to payroll...Ch. 3 - Public transportation and the automobile are two...Ch. 3 - The National Association of Realtors reported the...Ch. 3 - Prob. 69SECh. 3 - Travel + Leisure magazine provides an annual list...Ch. 3 - Morningstar tracks the performance of a large...Ch. 3 - Does a major league baseball teams record during...Ch. 3 - The days to maturity for a sample of five money...Ch. 3 - Automobiles traveling on a road with a posted...Ch. 3 - The Panama Railroad Company was established in...Ch. 3 - Pelican Stores Pelican Stores, a division of...Ch. 3 - Motion Picture Industry The motion picture...Ch. 3 - Business Schools of Asia-Pacific The pursuit of a...Ch. 3 - Heavenly Chocolates Website Transactions Heavenly...Ch. 3 - African Elephant Populations Although millions of...
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