SOLUTIONS MANUAL
STATISTICAL TECHNIQUES IN BUSINESS AND ECONOMICS
19TH EDITION
CHAPTER NO. 01: WHAT IS STATISTICS?
1.
a. Interval
b. Ratio
c. Nominal
d. Nominal
e. Ordinal
f. Ratio (LO1-5)
2.
a. Ratio
b. Nominal
c. Ratio
d. Ratio (LO1-5)
3. Answer will vary. (LO1-5)
4.
a. Sample
b. Population
c. Population
d. Sample (LO1-3)
5. Qualitative data is not numerical, whereas quantitative data is numerical. Examples will vary
by student. (LO1-4)
6. A population is the entire group which you are studying. A sample is a subset taken from a
population. (LO1-3)
7. Discrete variables can assume only certain values, but continuous variables can assume any
values within some range. Examples will vary. (LO1-4)
8.
a. A population is used because the professor likely has grades readily available from every
student over the past 5 years.
b. A population is used because the information is easy to find.
c. A population is used because you are interested in the top five companies.
d. During a selected season, a random sample of days would be selected, and the electricity
consumed recorded. (LO1-3)
,9.
a. Ordinal
b. Ratio
c. The newer system provided information on the distance between exits. (LO1-5)
10. The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction is
ordinal level. (LO1-5)
11.
a. The ranking of wearable technologies would most likely be based on a population. All
possible brands and models could be listed.
b. Since the ratings are self-reported, it is very likely that not all users submitted a rating.
Therefore, the ratings are a sample or a subset of the population. (LO1-3)
12. In a presidential election all votes are counted, thus it is similar to a census of the entire
population. However, an “exit” poll consists of only some voters and thus is more like a sample of
the entire population. (LO1-3)
13.
Discrete Continuous
b. Country
d. Energy drink preference
Qualitative
g. Student rank in class
h. Rating of a finance professor
c. Sales volume of treadmills
a. Salary
Quantitative f. SAT scores
e. Temperature
i. Number of home video devices
Discrete Continuous
Nominal b. Country
d. Energy drink preference
Ordinal g. Student rank in class
h. Rating of a finance professor
Interval f. SAT scores e. Temperature
c. Sales volume of treadmills.
Ratio a. Salary
i. Number of home video devices
(LO1-4 and LO1-5)
14. Answers will vary. (LO1-5)
15. As a result of these sample findings, we can conclude that or 40% of the white-collar
workers would transfer outside the U.S. (LO1-3)
,16. The obvious majority of consumers ( , or 80%) believe the policy is fair. On the strength
of these findings, we can anticipate a similar proportion of all customers to feel the same. (LO1-3)
17.
a. From differences, it is clear that the sales of almost every brand decreased from 2019 to
2020. The primary causes are the effects of the COVID pandemic on the economy and
the manufacturing supply chain.
, b. This analysis shows that only Tesla, Volvo, and Alfa Romeo were able to sustain an increase
in sales from 2019 to 2020. All other brands experienced decreases in sales ranging from
2.1 to 53.2 percent. Over time, decreases like these are very unusual. Again, the data
reflects the effects of the pandemic.
STATISTICAL TECHNIQUES IN BUSINESS AND ECONOMICS
19TH EDITION
CHAPTER NO. 01: WHAT IS STATISTICS?
1.
a. Interval
b. Ratio
c. Nominal
d. Nominal
e. Ordinal
f. Ratio (LO1-5)
2.
a. Ratio
b. Nominal
c. Ratio
d. Ratio (LO1-5)
3. Answer will vary. (LO1-5)
4.
a. Sample
b. Population
c. Population
d. Sample (LO1-3)
5. Qualitative data is not numerical, whereas quantitative data is numerical. Examples will vary
by student. (LO1-4)
6. A population is the entire group which you are studying. A sample is a subset taken from a
population. (LO1-3)
7. Discrete variables can assume only certain values, but continuous variables can assume any
values within some range. Examples will vary. (LO1-4)
8.
a. A population is used because the professor likely has grades readily available from every
student over the past 5 years.
b. A population is used because the information is easy to find.
c. A population is used because you are interested in the top five companies.
d. During a selected season, a random sample of days would be selected, and the electricity
consumed recorded. (LO1-3)
,9.
a. Ordinal
b. Ratio
c. The newer system provided information on the distance between exits. (LO1-5)
10. The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction is
ordinal level. (LO1-5)
11.
a. The ranking of wearable technologies would most likely be based on a population. All
possible brands and models could be listed.
b. Since the ratings are self-reported, it is very likely that not all users submitted a rating.
Therefore, the ratings are a sample or a subset of the population. (LO1-3)
12. In a presidential election all votes are counted, thus it is similar to a census of the entire
population. However, an “exit” poll consists of only some voters and thus is more like a sample of
the entire population. (LO1-3)
13.
Discrete Continuous
b. Country
d. Energy drink preference
Qualitative
g. Student rank in class
h. Rating of a finance professor
c. Sales volume of treadmills
a. Salary
Quantitative f. SAT scores
e. Temperature
i. Number of home video devices
Discrete Continuous
Nominal b. Country
d. Energy drink preference
Ordinal g. Student rank in class
h. Rating of a finance professor
Interval f. SAT scores e. Temperature
c. Sales volume of treadmills.
Ratio a. Salary
i. Number of home video devices
(LO1-4 and LO1-5)
14. Answers will vary. (LO1-5)
15. As a result of these sample findings, we can conclude that or 40% of the white-collar
workers would transfer outside the U.S. (LO1-3)
,16. The obvious majority of consumers ( , or 80%) believe the policy is fair. On the strength
of these findings, we can anticipate a similar proportion of all customers to feel the same. (LO1-3)
17.
a. From differences, it is clear that the sales of almost every brand decreased from 2019 to
2020. The primary causes are the effects of the COVID pandemic on the economy and
the manufacturing supply chain.
, b. This analysis shows that only Tesla, Volvo, and Alfa Romeo were able to sustain an increase
in sales from 2019 to 2020. All other brands experienced decreases in sales ranging from
2.1 to 53.2 percent. Over time, decreases like these are very unusual. Again, the data
reflects the effects of the pandemic.
