Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)

6th Edition

ISBN: 9780357191484

Author: David R. Anderson; Dennis J. Sweeney; Thomas A. Williams

Publisher: Cengage Learning US

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Textbook Question

Chapter 3.2, Problem 26E

Price of Unleaded Gasoline. Data collected by the Oil Price Information Service from more than 90,000 gasoline and convenience stores throughout the U.S. showed that the average price for a gallon of unleaded gasoline was $3.28 (MSN Auto website). The following data show the price per gallon ($) for a sample of 20 gasoline and convenience stores located in San Francisco.

Chapter 3.2, Problem 26E, Price of Unleaded Gasoline. Data collected by the Oil Price Information Service from more than

a. Use the sample data to estimate the mean price for a gallon of unleaded gasoline in San Francisco.
b. Compute the sample standard deviation.
c. Compare the mean price per gallon for the sample data to the national average price. What conclusions can you draw about the cost living in San Francisco?

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 3.2, Problem 25E

Chapter 3.2, Problem 27E

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Chapter 3 Solutions

Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)

Ch. 3.1 - 1. Consider a sample with data values of 10, 20,...Ch. 3.1 - 2. Consider a sample with data values of 10, 20,...Ch. 3.1 - 3. Consider the following data and corresponding...Ch. 3.1 - Prob. 4E Ch. 3.1 - Prob. 5E Ch. 3.1 - Prob. 6E Ch. 3.1 - 7. The average number of minutes Americans commute...Ch. 3.1 - Middle-Level Manager Salaries. Suppose that an...Ch. 3.1 - 9. Which companies spend the most money on...Ch. 3.1 - Advertising Spending. Which companies spend the...

Ch. 3.1 - Prob. 11E Ch. 3.1 - The Big Bang Theory, a situation comedy...Ch. 3.1 - Automobile Fuel Efficiencies. In automobile...Ch. 3.1 - The data contained in the DATAfile named...Ch. 3.1 - 15. Martinez Auto Supplies has retail stores...Ch. 3.1 - 16. The grade point average for college students...Ch. 3.1 - 17. The following table shows the total return and...Ch. 3.1 - 18. Based on a survey of master’s programs in...Ch. 3.1 - Annual revenue for Corning Supplies grew by 5.5%...Ch. 3.1 - Suppose that at the beginning of Year 1 you...Ch. 3.1 - Prob. 21E Ch. 3.1 - Prob. 22E Ch. 3.2 - 23. Consider a sample with data values of 10, 20,...Ch. 3.2 - Prob. 24E Ch. 3.2 - Consider a sample with data values of 27, 25, 20,...Ch. 3.2 - Price of Unleaded Gasoline. Data collected by the...Ch. 3.2 - Round-Trip Flight Prices. The following table...Ch. 3.2 - The Australian Open is the first of the four...Ch. 3.2 - Air Quality Index. The Los Angeles Times regularly...Ch. 3.2 - Prob. 30E Ch. 3.2 - The results of Accounting Principals’ latest...Ch. 3.2 - Advertising Spend by Companies. Advertising Age...Ch. 3.2 - Scores turned in by an amateur golfer at the...Ch. 3.2 - Consistency of Running Times. The following times...Ch. 3.3 - 35. Consider a sample with data values of 10, 20,...Ch. 3.3 - 36. Consider a sample with a mean of 500 and a...Ch. 3.3 - 37. Consider a sample with a mean of 30 and a...Ch. 3.3 - 38. Suppose the data have a bell-shaped...Ch. 3.3 - 39. The results of a national survey showed that...Ch. 3.3 - 40. The energy information Administration reported...Ch. 3.3 - 41. The Graduate Management Admission Test (GMAT)...Ch. 3.3 - 42. Many families in California are using backyard...Ch. 3.3 - According to a Los Angeles Times study of more...Ch. 3.3 - NCAA Basketball Game Scores. A sample of 10 NCAA...Ch. 3.3 - The Wall Street Journal reported that Walmart...Ch. 3.4 - Consider a sample with data values of 27, 25, 20,...Ch. 3.4 - Prob. 47E Ch. 3.4 - Prob. 48E Ch. 3.4 - Prob. 49E Ch. 3.4 - Naples Half-Marathon Times. Naples, Florida, hosts...Ch. 3.4 - Pharmaceutical Company Sales. Annual sales, in...Ch. 3.4 - Cell Phone Companies Customer Satisfaction....Ch. 3.4 - Most Admired Companies. Fortune magazine’s list of...Ch. 3.4 - Prob. 54E Ch. 3.5 - Five observations taken for two variables...Ch. 3.5 - Prob. 56E Ch. 3.5 - The DATAfile TwoStocks contains adjusted monthly...Ch. 3.5 - Driving Speed and Fuel Efficiency. A department of...Ch. 3.5 - Smoke Detector Use and Death Rates. Over the past...Ch. 3.5 - Stock Market Indexes Comparison. The Russell 1000...Ch. 3.5 - Best Private Colleges. A random sample of 30...Ch. 3 - Americans Dining Out. Americans tend to dine out...Ch. 3 - NCAA Football Coaches Salaries. A 2017 USA Today...Ch. 3 - Physician Office Waiting Times. The average...Ch. 3 - Worker Productivity and Insomnia. U.S. companies...Ch. 3 - A study of smartphone users shows that 68% of...Ch. 3 - Work Commuting Methods. Public transportation and...Ch. 3 - Household Incomes. The following data represent a...Ch. 3 - Restaurant Chains’ Sales per Store. The data...Ch. 3 - Prob. 70SE Ch. 3 - NFL Teams Worth. In 2014, the 32 teams in the...Ch. 3 - MLB Team Winning Percentages. Does a major league...Ch. 3 - 73. The days to maturity for a sample of five...Ch. 3 - 74. Automobiles traveling on a road with a posted...Ch. 3 - Annual Returns for Panama Railroad Company Stock....Ch. 3 - Pelican Stores, a division of National Clothing,...Ch. 3 - The motion picture industry is a competitive...Ch. 3 - The pursuit of a higher education degree in...Ch. 3 - Although millions of elephants once roamed across...

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