Statistical Techniques in Business and ...16th EditionLind Publisher: Mcgraw-Hill Course Content DeliveryISBN: 9780077639723
Statistical Techniques in Business and ...
Solutions for Statistical Techniques in Business and Economics
Problem 1SR:
The Atlanta-based advertising firm Brandon and Associates asked a sample of 1,960 consumers to try a...Problem 2SR:
What is the level of measurement reflected by the following data? (a) The age of each person in a...Problem 1E:
What is the level of measurement for each of the following variables? a. Student IQ ratings. b....Problem 2E:
The San Francisco Chronicle is a large newspaper published daily. What is the level of measurement...Problem 4E:
For each of the following, determine whether the group is a sample or a population. a. The...Problem 5CE:
Explain the difference between qualitative and quantitative variables. Give an example of...Problem 8CE:
For the following situations, would you collect information using a sample or a population? Why? a....Problem 9CE:
Exits along Interstate highways were formerly numbered successively from the western or southern...Problem 10CE:
A poll solicits a large number of college undergraduates for Information on the following variables:...Problem 11CE:
Barnes & Noble recently began selling an electronic book reader called the Nook Color. With this...Problem 12CE:
Using the concepts of sample and population, describe how a presidential election is unlike an exit...Problem 13CE:
Place these variables in the following classification tables. For each table, summarize your...Problem 16CE:
AVX Home Entertainment, Inc., recently began a no-hassles return policy. A sample of 500 customers...Problem 17CE:
The Wall Street Journal’s website, www.wsj.com, reported the number of cars and light-duty trucks...Problem 18CE:
The following chart depicts the average amounts spent by consumers on holiday gifts. Write a brief...Problem 19CE:
The following chart depicts the earnings in billions of dollars for ExxonMobil for the period 2003...Problem 20DE:
Refer to the Real Estate data, which report information on homes sold in the Goodyear, Arizona, area...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 Management
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 writing style and illustrates concepts through the liberal use of business-focused examples that are relevant to the current world of a college student.
Sample Solutions for this Textbook
We offer sample solutions for Statistical Techniques in Business and Economics homework problems. See examples below:
Chapter 1, Problem 1SRChapter 1, Problem 13CEChapter 1, Problem 17CEChapter 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 51DEChapter 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 5, Problem 93DEChapter 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...Chapter 6, Problem 70DEChapter 7, Problem 1SRIt is given that none of the stolen goods are recovered by the homeowners in 80% of reported theft....The 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 23 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, a list of 46 students is 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 1SRIt is expected that the mean weekly salary of nurses is higher. Therefore, the test hypotheses are...Chapter 11, Problem 3SRChapter 11, Problem 46CEIn this context, let μ1 denote the mean selling price of homes sold last year without a pool and μ2...In this context, let μ1 denote the mean salary of teams in the American League and μ2 denote the...Chapter 12, Problem 1SRThe 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...Step-by-step procedure to obtain the interaction plot using MINITAB: Choose Stat > ANOVA >...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: Denote μacc as the mean account balance. The null...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...Here, the selling price is the dependent variable and size of the home is the independent variable....Chapter 13, Problem 63DEChapter 14, Problem 1SRChapter 14, Problem 8EChapter 14, Problem 18CEMultiple linear regression model: A multiple linear regression model is given as...Chapter 14, Problem 23CEChapter 14, Problem 33DELet y is dependent variable, x1x2, x3, x4, x5 and x6 are independent variables. Where, y is the...Chapter 15, Problem 1SRChapter 15, Problem 62DEChapter 15, Problem 64DEIn 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 test hypotheses are given as follows: Null hypothesis: H0: There is no difference in the number...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 40CEChapter 16, Problem 42DECalculation: 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 index using 2000 as the base period is obtained as follows: YearAverage...Moving average: It is used to smooth the fluctuations in time series data in order to see its trend....Residual: Formula for residual is Residual=Actual value−Predicted value. From Exercise 24163-14-9E,...Step-by-step procedure to obtain the regression using EXCEL: Enter the data for Commissions, Calls,...Chapter 18, Problem 28CEChapter 18, Problem 30CEChapter 18, Problem 31CEChapter 18, Problem 33CEChapter 19, Problem 1SRChapter 19, Problem 15EChapter 19, Problem 22CEChapter 19, Problem 31CEChapter 19, Problem 32CE
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