Essentials of Statistics for Business & Economics 9th Edition by David Anderson Solution Manual |ISBN: 9780357045435| Guide A+

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SOLUTION MANUAL
Essentials of Statistics for Business & Economics 9th Edition by David R.
Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm,
James J. Cochran
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Chapter 1
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Data and Statistics
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Learning Objectives

1. Obtain an appreciation for the breadth of statistical applications in business and

economics.

2. Understand the meaning of the terms, elements, variables, and observations as they

are used in statistics.

3. Obtain an understanding of the difference between categorical, quantitative, cross-

sectional, and time-series data.

4. Learn about the sources of data for statistical analysis both internal and external to the

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firm.

5. Be aware of how errors can arise in data.

6. Know the meaning of descriptive statistics and statistical inference.

7. Be able to distinguish between a population and a sample.

8. Understand the role a sample plays in making statistical inferences about the population.

9. Know the meaning of the term data mining.

10. Be aware of ethical guidelines for statistical practice.
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Solutions:

1. Statistics can be referred to as numerical facts. In a broader sense, statistics is the field of
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study dealing with the collection, analysis, presentation and interpretation of data.

2. a. The 10 elements are the 10 tablet computers

b. Five variables: Cost ($), Operating System, Display Size (inches), Battery Life

(hours), and CPU Manufacturer

c Categorical variables: Operating System and CPU Manufacturer

Quantitative variables: Cost ($), Display Size (inches), and Battery Life (hours)

d.

Variable Measurement Scale
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Cost ($) Ratio

Operating system Nominal
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Display size (inches) Ratio
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Battery life (hours) Ratio

CPU manufacturer Nominal

3. a. Average cost = 5829/10 = $582.90
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b. Average cost with a Windows operating system = 3616/5 = $723.20
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Average cost with an Android operating system = 1,714/4 = $428.5

The average cost with a Windows operating system is much higher.

c. Ten of 10 or 20% use a CPU manufactured by TI OMAP

d. Four of 10 or 40% use an Android operating system

4. a. There are eight elements in this data set; each element corresponds to one of the eight

models of cordless telephones.

b. Categorical variables: Voice Quality and Handset on Base

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Quantitative variables: Price, Overall Score, and Talk Time

c. Price: ratio measurement

Overall score: interval measurement

Voice quality: ordinal measurement

Handset on base: nominal measurement

Talk time: ratio measurement

5. a. Average price = 545/8 = $68.13

b. Average talk time = 71/8 = 8.875 hours
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c. Percentage rated Excellent: 2 of 8, 2/8 = .25, or 25%

6. a. Categorical

b. Quantitative
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c. Categorical
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d. Quantitative

e. Quantitative

7. a. Because there are five choices, the response is a categorical response.
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b. The five responses are the labels for the customer responses. A nominal scale is being

used.
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8. a. 762

b. Categorical

c. Percentages

d. .67(762) = 510.54

510 or 511 respondents said they want the amendment to pass.

9. a. The population is employed individuals in the United States aged 25–29.