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:
Heinz, a manufacturer of ketchup, uses a particular machine to dispense 16 ounces of its ketchup...Problem 1E:
For Exercises 14, answer the questions: (a) Is this a one- or two-tailed test? (b) What is the...Problem 4E:
For Exercises 14, answer the questions: (a) Is this a one- or two-tailed test? (b) What is the...Problem 5E:
For Exercises 58: (a) State the null hypothesis and the alternate hypothesis. (b) State the decision...Problem 6E:
For Exercises 58: (a) State the null hypothesis and the alternate hypothesis. (b) State the decision...Problem 7E:
For Exercises 58: (a) State the null hypothesis and the alternate hypothesis. (b) State the decision...Problem 8E:
For Exercises 58: (a) State the null hypothesis and the alternate hypothesis. (b) State the decision...Problem 3SR:
The mean life of a battery used in a digital clock is 305 days. The lives of the batteries follow...Problem 9E:
Given the following hypotheses: H0:10H1:10 A random sample of 10 observations is selected from a...Problem 10E:
Given the following hypotheses: H0:=400H1:400 A random sample of 12 observations is selected from a...Problem 11E:
The Rocky Mountain district sales manager of Rath Publishing Inc., a college textbook publishing...Problem 12E:
The management of White Industries is considering a new method of assembling its golf cart. The...Problem 13E:
The mean income per person in the United States is $40,000, and the distribution of incomes follows...Problem 14E:
Most air travelers now use e-tickets. Electronic ticketing allows passengers to not worry about a...Problem 4SR:
A machine is set to fill a small bottle with 9.0 grams of medicine. A sample of eight bottles...Problem 15E:
Given the following hypotheses: H0:20H1:20 A random sample of five resulted in the following values:...Problem 16E:
Given the following hypotheses: H0:=100H1:100 A random sample of six resulted in the following...Problem 17E:
The amount of water consumed each day by a healthy adult follows a normal distribution with a mean...Problem 18E:
The liquid chlorine added to swimming pools to combat algae has a relatively short shelf life before...Problem 19E:
A Washington, D.C., think tank announces the typical teenager sent 67 text messages per day in 2017....Problem 20E:
Hugger Polls contends that an agent conducts a mean of 53 in-depth home surveys every week. A...Problem 21E:
Refer to Table 104 and the example just completed. With n = 100, = 400, xc=9,922 and 1 = 9,880,...Problem 23CE:
According to the local union president, the mean gross income of plumbers in the Salt Lake City area...Problem 24CE:
Rutter Nursery Company packages its pine bark mulch in 50-pound bags. From a long history, the...Problem 25CE:
A new weight-watching company, Weight Reducers International, advertises that those who join will...Problem 26CE:
Dole Pineapple Inc. is concerned that the 16-ounce can of sliced pineapple is being overfilled....Problem 27CE:
According to a recent survey, Americans get a mean of 7 hours of sleep per night. A random sample of...Problem 28CE:
A statewide real estate sales agency, Farm Associates, specializes in selling farm property in the...Problem 29CE:
According to the Census Bureau, 3.13 people reside in the typical American household. A sample of 25...Problem 30CE:
A recent article in Vitality magazine reported that the mean amount of leisure time per week for...Problem 31CE:
According to a study by the Federal Reserve Board, the rate charged on credit card debt is more than...Problem 32CE:
A recent article in The Wall Street Journal reported that the home equity loan rate is now less than...Problem 33CE:
A recent study revealed the typical American coffee drinker consumes an average of 3.1 cups per day....Problem 34CE:
The postanesthesia care area (recovery room) at St. Lukes Hospital in Maumee, Ohio, was recently...Problem 35CE:
www.golfsmith.com receives an average of 6.5 returns per day from online shoppers. For a sample of...Problem 36CE:
During recent seasons, Major League Baseball has been criticized for the length of the games. A...Problem 37CE:
Watch Corporation of Switzerland claims that its watches on average will neither gain nor lose time...Problem 38CE:
Listed below is the annual rate of return (reported in percent) for a sample of 12 taxable mutual...Problem 39CE:
Many grocery stores and large retailers such as Kroger and Walmart have installed self-checkout...Problem 40CE:
For a recent year, the mean fare to fly from Charlotte, North Carolina, to Chicago, Illinois, on a...Problem 41CE:
The publisher of Celebrity Living claims that the mean sales for personality magazines that feature...Problem 42CE:
A United Nations report shows the mean family income for Mexican migrants to the United States is...Problem 43CE:
The cost of weddings in the United States has skyrocketed in recent years. As a result, many couples...Problem 44CE:
The American Water Works Association reports that the per capita water use in a single-family home...Problem 45CE:
A cola-dispensing machine is set to dispense 9.00 ounces of cola per cup, with a standard deviation...Problem 46CE:
The owners of the Westfield Mall wished to study customer shopping habits. From earlier studies, the...Problem 47CE:
The following null and alternate hypotheses are given. H0:50H1:50 Suppose the population standard...Problem 48CE:
An insurance company, based on past experience, estimates the mean damage for a natural disaster in...Problem 49CE:
A national grocers magazine reports the typical shopper spends 8 minutes in line waiting to check...Problem 50DE:
Refer to the Real Estate data, which report information on the homes sold in Goodyear, Arizona, last...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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