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 8, Problem 1CP
Young Professional Magazine
Young Professional magazine was developed for a target audience of recent college graduates who are in their first 10 years in a business/professional career. In its two years of publication, the magazine has been fairly successful. Now the publisher is interested in expanding the magazine’s advertising base. Potential advertisers continually ask about the demographics and interests of subscribers to Young Professional. To collect this information. the magazine commissioned a survey to develop a profile of its subscribers. The survey results will be used to help the magazine choose articles of interest and provide advertisers with a profile of subscribers. As a new employee of the magazine, you have been asked to help analyze the survey results.
Some of the survey questions follow:
Professional
- 1. What is your age?
- 2. Are you: Male_______ Female_______
- 3. Do you plan to make any real estate purchases in the next two years? Yes____ No____
- 4. What is the approximate total value of financial investments, exclusive of your home, owned by you or members of your household?
- 5. How many stock/bond/mutual fund transactions have you made in the past year?
- 6. Do you have broadband access to the Internet at home? Yes____ No____
- 7. Please indicate your total household income last year._______
8. Do you have children? Yes____ No____
The file entitled Professional contains the responses to these questions. Table 8.6 shows the portion of the file pertaining to the first five survey respondents.
Managerial Report
Prepare a managerial report summarizing the results of the survey. In addition to statistical summaries, discuss how the magazine might use these results to attract advertisers. You might also comment on how the survey results could be used by the magazine’s editors to identify topics that would be of interest to readers. Your report should address the following issues, but do not limit your analysis to just these areas.
- 1. Develop appropriate
descriptive statistics to summarize the data. - 2. Develop 95% confidence intervals for the
mean age and household income of subscribers. - 3. Develop 95% confidence intervals for the proportion of subscribers who have broadband access at home and the proportion of subscribers who have children.
- 4. Would Young Professional be a good advertising outlet for online brokers? Justify your conclusion with statistical data.
- 5. Would this magazine be a good place to advertise for companies selling educational software and computer games for young children?
- 6. Comment on the types of articles you believe would be of interest to readers of Young Professional.
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Chapter 8 Solutions
Modern Business Statistics with Microsoft Office Excel (with XLSTAT Education Edition Printed Access Card)
Ch. 8.1 - 1. A simple random sample of 40 items resulted in...Ch. 8.1 - 2. A simple random sample of 50 items from a...Ch. 8.1 - 3. A simple random sample of 60 items resulted in...Ch. 8.1 - 4. A 95% confidence interval for a population mean...Ch. 8.1 - 5. Data were collected on the amount spent by 64...Ch. 8.1 - Travel Taxes. In an attempt to assess total daily...Ch. 8.1 - The National Fire Protection Association reported...Ch. 8.1 - 8. Studies show that massage therapy has a variety...Ch. 8.1 - Prob. 9ECh. 8.1 - 10. Costs are rising for all kinds of medical...
Ch. 8.2 - For a t distribution with 16 degrees of freedom,...Ch. 8.2 - Find the t value(s) for each of the following...Ch. 8.2 - The following sample data are from a normal...Ch. 8.2 - 14. A simple random sample with n = 54 provided a...Ch. 8.2 - Prob. 15ECh. 8.2 - Years to Bond Maturity. A sample containing years...Ch. 8.2 - Quality Ratings of Airports. The International Air...Ch. 8.2 - Unemployment in Older Workers. Older people often...Ch. 8.2 - Prob. 19ECh. 8.2 - Automobile Insurance Premiums. The average annual...Ch. 8.2 - Telemedicine. Health insurers are beginning to...Ch. 8.2 - Prob. 22ECh. 8.3 - 23. How large a sample should be selected to...Ch. 8.3 - Prob. 24ECh. 8.3 - Prob. 25ECh. 8.3 - Prob. 26ECh. 8.3 - Annual starting salaries for college graduates...Ch. 8.3 - Prob. 28ECh. 8.3 - 29. Customers arrive at a movie theater at the...Ch. 8.3 - Prob. 30ECh. 8.4 - 31. A simple random sample of 400 individuals...Ch. 8.4 - 32. A simple random sample of 800 elements...Ch. 8.4 - Prob. 33ECh. 8.4 - 34. At 95% confidence, how large a sample should...Ch. 8.4 - The Pew Research Center conducted a survey of...Ch. 8.4 - 36. According to statistics reported on CNBC, a...Ch. 8.4 - 37. One of the questions on a survey of 1000...Ch. 8.4 - According to Thomson Financial, through last...Ch. 8.4 - The percentage of Texans not covered by health...Ch. 8.4 - For many years businesses have struggled with the...Ch. 8.4 - 41. Fewer young people are driving. In 1983, 87%...Ch. 8.4 - Prob. 42ECh. 8.4 - Prob. 43ECh. 8.5 - Suppose a sample of 10001 erroneous Federal income...Ch. 8.5 - According to the Census Bureau, 2,475,780 people...Ch. 8.5 - Prob. 46ECh. 8.5 - Prob. 47ECh. 8 - 44. A sample survey of 54 discount brokers showed...Ch. 8 - 45. A survey conducted by the American Automobile...Ch. 8 - 46. The 92 million Americans of age 50 and over...Ch. 8 - Russia has recently started a push for stronger...Ch. 8 - 48. The Health Care Cost Institute tracks health...Ch. 8 - GlobalWebIndex reports that American Internet...Ch. 8 - 50. Mileage tests are conducted for a particular...Ch. 8 - Prob. 55SECh. 8 - Prob. 56SECh. 8 - 53. The National Center for Education Statistics...Ch. 8 - Prob. 58SECh. 8 - 55. The Pew Research Center has conducted...Ch. 8 - 56. A survey of 750 likely voters in Ohio was...Ch. 8 - The 2003 Statistical Abstract of the United States...Ch. 8 - 58. A well-known bank credit card firm wishes to...Ch. 8 - The American Enterprise Institute (AEI) Public...Ch. 8 - Prob. 64SECh. 8 - case Problem 1 Young Professional Magazine
Young...Ch. 8 - Gulf Real Estate Properties
Gulf Real Estate...Ch. 8 - Metropolitan Research, Inc.
Metropolitan Research,...
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