EBK STATISTICAL TECHNIQUES IN BUSINESS17th EditionLind Publisher: MCGRAW HILL BOOK COMPANYISBN: 9781259924163
EBK STATISTICAL TECHNIQUES IN BUSINESS
Solutions for EBK STATISTICAL TECHNIQUES IN BUSINESS
Problem 1SR:
DeCenzo Specialty Food and Beverage Company has been serving a cola drink with an additional...Problem 1E:
A pie chart shows the relative market share of cola products. The slice for Pepsi-Cola has a central...Problem 2E:
In a marketing study, 100 consumers were asked to select the best digital music player from the...Problem 3E:
A total of 1,000 residents in Minnesota were asked which season they preferred. One hundred liked...Problem 4E:
Two thousand frequent business travelers are asked which midwestern city they prefer: Indianapolis,...Problem 5E:
Wellstone Inc. produces and markets replacement covers for cell phones in five different colors:...Problem 6E:
A small business consultant is investigating the performance of several companies. The...Problem 2SR:
In the first quarter of last year, the 11 members of the sales staff at Master Chemical Company...Problem 7E:
A set of data consists of 38 observations. How many classes would you recommend for the frequency...Problem 8E:
A set of data consists of 45 observations between 0 and 29. What size would you recommend for the...Problem 9E:
A set of data consists of 230 observations between 235 and 567. What class interval would you...Problem 10E:
A set of data contains 53 observations. The minimum value is 42 and the maximum value is 129. The...Problem 11E:
Wachesaw Manufacturing Inc. produced the following number of units in the ast 16 days. The...Problem 12E:
The Quick Change Oil Company has a number of outlets in the metropolitan Seattle area. The daily...Problem 13E:
The manager of the BiLo Supermarket in Mt. Pleasant, Rhode Island, gathered the following...Problem 14E:
The food services division of Cedar River Amusement Park Inc. is studying the amount of money spent...Problem 4SR:
The annual imports of a selected group of electronic suppliers are shown in the following frequency...Problem 15E:
Mollys Candle Shop has several retail stores in the coastal areas of North and South Carolina. Many...Problem 16E:
The following chart shows the number of patients admitted daily to Memorial Hospital through the...Problem 17E:
The following frequency distribution reports the number of frequent flier miles, reported in...Problem 5SR:
A sample of the hourly wages of 15 employees at Home Depot in Brunswick, Georgia, was organized into...Problem 19E:
The following cumulative frequency and the cumulative relative frequency polygon for the...Problem 20E:
The cumulative frequency and the cumulative relative frequency polygon for a distribution of selling...Problem 21E:
The frequency distribution representing the number of frequent flier miles accumulated by employees...Problem 23CE:
Describe the similarities and differences of qualitative and quantitative variables. Be sure to...Problem 24CE:
Describe the similarities and differences between a frequency table and a frequency distribution. Be...Problem 25CE:
Alexandra Damonte will be building a new resort in Myrtle Beach, South Carolina. She must decide how...Problem 27CE:
A data set consists of 83 observations. How many classes would you recommend for a frequency...Problem 28CE:
A data set consists of 145 observations that range from 56 to 490. What size class interval would...Problem 29CE:
The following is the number of minutes to commute from home to work for a group of 25 automobile...Problem 30CE:
The following data give the weekly amounts spent on groceries for a sample of 45 households. a. How...Problem 31CE:
A social scientist is studying the use of iPods by college students. A sample of 45 students...Problem 32CE:
David Wise handles his own investment portfolio, and has done so for many years. Listed below is the...Problem 33CE:
You are exploring the music in your iTunes library. The total play counts over the past year for the...Problem 34CE:
The monthly issues of the Journal of Finance are available on the Internet. The table below shows...Problem 35CE:
The following histogram shows the scores on the first exam for a statistics class. a. How many...Problem 36CE:
The following chart summarizes the selling price of homes sold last month in the Sarasota, Florida,...Problem 37CE:
A chain of sport shops catering to beginning skiers, headquartered in Aspen, Colorado, plans to...Problem 38CE:
The numbers of outstanding shares for 24 publicly traded companies are listed in the following...Problem 39CE:
A recent survey showed that the typical American car owner spends 2,950 per year on operating...Problem 40CE:
Midland National Bank selected a sample of 40 student checking accounts. Below are their...Problem 41CE:
Residents of the state of South Carolina earned a total of 69.5 billion in adjusted gross income....Problem 42CE:
A recent study of home technologies reported the number of hours of personal computer usage per week...Problem 43CE:
Merrill Lynch recently completed a study regarding the size of online investment portfolios (stocks,...Problem 44CE:
A total of 5.9% of the prime-time viewing audience watched shows on ABC, 7.6% watched shows on CBS,...Problem 45CE:
Refer to the following chart: a. What is the name given to this type of chart? b. Suppose that 1,000...Problem 46CE:
The following chart depicts the annual revenues, by type of tax, for the state of Georgia. a. What...Problem 49CE:
One of the most popular candies in the United States is MMs produced by the Mars Company. In the...Problem 50CE:
The number of families who used the Minneapolis YWCA day care service was recorded during a 30-day...Browse All Chapters of This Textbook
Chapter 1 - What Is Statistics?Chapter 2 - Describing Data: Frequency Tables, Frequency Distributions, And Graphic PresentationChapter 3 - Describing Data: Numerical MeasuresChapter 4 - Describing Data: Displaying And Exploring DataChapter 5 - A Survey Of Probability ConceptsChapter 6 - Discrete Probability DistributionsChapter 7 - Continuous Probability DistributionsChapter 8 - Sampling Methods And The Central Limit TheoremChapter 9 - Estimation And Confidence IntervalsChapter 10 - One-sample Tests Of Hypothesis
Chapter 11 - Two-sample Tests Of HypothesisChapter 12 - Analysis Of VarianceChapter 13 - Correlation And Linear RegressionChapter 14 - Multiple Regression AnalysisChapter 15 - Nonparametric Methods: Nominal Level Hypothesis TestsChapter 16 - Nonparametric Methods: Analysis Of Ordinal DataChapter 17 - Index NumbersChapter 18 - Time Series And ForecastingChapter 19 - Statistical Process Control And Quality ManagementChapter 20 - An Introduction To Decision Theory
Book Details
Lind/Marchal/Wathen is a perennial market best seller due to its comprehensive coverage of statistical concepts and methods delivered in a student friendly, step-by-step format. The text presents concepts clearly and succinctly with a conversational writi
Sample Solutions for this Textbook
We offer sample solutions for EBK STATISTICAL TECHNIQUES IN BUSINESS homework problems. See examples below:
Descriptive statistics: Descriptive statistics are a set of statistical tools that are used to...Chapter 1, Problem 13CECalculation: The manufacturers for whom, data is missing for one or both the years are ignored....Chapter 2, Problem 1SRSelection of number of classes: The “2 to the k rule” suggests that the number of classes is the...Chapter 2, Problem 38CEChapter 2, Problem 51DASelection of number of classes: “2 to the k rule” suggests that the number of classes is the...Chapter 2, Problem 53DA
Chapter 3, Problem 1.1SRCalculation: Step by step procedure to obtain mean, median using MINITAB software is given as,...Calculation: Arithmetic mean of grouped data: The mean of the data that is given in frequency...In the dotplot of number of employees for each of 142 Home Depot stores, the horizontal line...Calculation: Location of percentile: The formula for percentile is, LP=(n+1)P100 In the formula, P...Chapter 4, Problem 14ECalculation: Step by step procedure to obtain mean, median and standard deviation using MINITAB...Calculation: Step by step procedure to obtain boxplot using MINITAB software is given as, Choose...Experiment: It is the process in which it leads to exactly one occurrence among different possible...Chapter 5, Problem 8SRCalculation: The total number of families is 20 and the number of families prepared their own taxes...Calculation: The below table shows the number of homes that have a pool versus the number of homes...Chapter 6, Problem 1SRChapter 6, Problem 8EChapter 6, Problem 21EHere, n=15; π=0.70. The expected number of problems to be resolved today is calculated as follows:...Chapter 6, Problem 45CEThe formula to find the binomial probability is as follows: P(X)=Cnxπx(1−π)(n−x)where, C is the...The formula to find the binomial probability is as follows: P(X)=Cnxπx(1−π)(n−x)where, C is the...Step-by-step procedure to obtain the frequency table for bedrooms using EXCEL: Enter the data in an...Chapter 7, Problem 1SRThe binomial probability distribution with n=40 and π=0.55 is given. The mean can be obtained as...It is given that an error is made on 7% of the returns prepared in the last year. The total number...It is given that 20% of the mufflers are installed in more than 30 minutes. The total number of...In order to qualify as a binomial problem it must satisfy the following conditions: The number of...It is given that 80% of the guests respond to invitations that they will attend the wedding and the...The exponential parameter value for the age group of 75 years and older is as follows: λ=118...In order to qualify as a binomial problem, it must satisfy the following conditions. There are only...In order to qualify as a binomial problem, it must satisfy the following conditions. There are only...In order to qualify as a binomial problem, it must satisfy the following conditions: There are only...The formula to find the binomial probability is as follows: P(X)=Cnxπx(1−π)(n−x)where, n is the...From the given information, list of 46 students are given and assigned the numbers as 00 to 45. The...Chapter 8, Problem 3SRFrom the given information, the number of cases each partner actually tried in court is 3, 6, 3, 3,...The mean is calculated by using the following formula: Mean=Sum of all the observationsNumber of...Chapter 8, Problem 30CEFrom the given information, the fair die is rolled two times. A fair die has 6 sides. Then, the...Here, the sample mean is provided and there is no information about the population mean of daily...Calculation: In this case, the number of voters favoring the Republican candidate is 520...Chapter 10, Problem 1SRChapter 11, Problem 1SRCalculation: Degrees of freedom: The degrees of freedom is as follows: df=n1+n2−2=10+8−2=16...Chapter 11, Problem 8EChapter 11, Problem 3SRCalculation: The null and alternative hypotheses are stated below: Let μ1 is the average men who...Calculation: In this context, let μ1 denotes the mean selling price of homes sold last year without...Chapter 12, Problem 1SRDenote μ1,μ2, and μ3 the means of tuition rates for northeast, southeast, and west, respectively....The null and alternative hypotheses are given below: Null Hypothesis H0:μ1=μ2=μ3 That is, the mean...Chapter 12, Problem 12EDegrees of freedom for Factor A and Factor B: The degrees of freedom for Factor A and Factor B can...It is given that the total sum of square is 1,099.61. SS total=1,099.61 The sum of squares due to...The null and alternative hypotheses are stated below: Null hypothesis: There is no difference in the...Hypothesis test for mean checking account balance: The null and alternative hypotheses are stated...Data on the number of times the advertisement was aired and digital camera sales are given....Step-by-step procedure to obtain the correlation coefficient using MegaStat software: In an EXCEL...It is given that ‘Estimated cost’ is the dependent variable. Step-by-step procedure to obtain the...Calculation: The values of x and y are given. Regression equation: Software procedure: Step-by-step...Step-by-step procedure to obtain the correlation coefficient using MegaStat software: In an EXCEL...Chapter 13, Problem 61CEChapter 13, Problem 62DAChapter 14, Problem 1SRChapter 14, Problem 8EChapter 14, Problem 18CEMultiple linear regression model: A multiple linear regression model is given as...Chapter 14, Problem 23CECalculation: Multiple linear regression model: A multiple linear regression model is given as...Multiple linear regression model: A multiple linear regression model is given as...Chapter 15, Problem 1SRCalculation: In this case, the test is to check whether more than 60% of the homes have an attached...Calculation: In this case, the test is to check whether less than 40% of the districts buses are...In this context, it is known that the sample size is 12 and significance level is 0.10. The test...In this context, the sample size n is 14. The test hypotheses are given below: Null hypothesis: H0:...The scatter plot for male and female rankings is given below: Step-by-step procedure to obtain...Spearman’s coefficient of rank correlation: rs=1−6∑d2n(n2−1) Here, d is the difference between ranks...Chapter 16, Problem 40CESpearman’s coefficient of rank correlation: rs=1−6∑d2n(n2−1) Here, d is the difference between ranks...In this context, it is assumed that the maintenance costs are not normally distributed. Therefore,...Calculation: The index using Country U as based period is obtained as follows:...Calculation: The simple price index using 2000 as the base period is obtained as follows: FruitPrice...Calculation: The simple price index using 2000 as the base period is obtained as follows: ItemPrice...Calculation: The simple price index using 2000 as the base period is obtained as follows: ItemPrice...Calculation: The three-year moving averages for sales are obtained below: YearNumber Produced3-year...Calculation: Linear Trend Equation: Step-by-step procedure to obtain the regression using the Excel:...Calculation: Four-Year moving average: Four-year moving average=sum of the four consequent...Calculation: Four-Year moving average: Four-year moving average=sum of the four concequent Sales4...Calculation: Twelve months- moving average: Twelve-year moving average=sum of the twelve concequent...Calculation: Four-Year moving average: Four-year moving average=sum of the four concequent...Chapter 19, Problem 1SRChapter 19, Problem 15EChapter 19, Problem 22CEChapter 19, Problem 31CEChapter 19, Problem 32CEFrom the Table 20-1, the bull market and bear stock for the Rim homes are 2,200 and 1,100,...From the given information, the probabilities for the state of nature are P(S1)=0.30, P(S2)=0.50 and...On observing the given information, it is clear that the lease about for a complete part set for...
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