STUDY NOTES & REFERENCE GUIDE
Solutions Manual to Accompany
Essentials of Modern
Business Statistics
With Microsoft Excel
Second Edition
David R. Anderson
University of Cincinnati
Dennis J. Sweeney
University of Cincinnati
Thomas A. Williams
Rochester Institute of Technology
South-Western
Cincinnati,
Ohio
2-1
LecClara ‑ Stuvia | Page 1 of 313
, STUDY NOTES & REFERENCE GUIDE
Contents
Preface
Chapte
r
1. Data and Statistics
2. Descriptive Statistics: Tabular and Graphical Methods
3. Descriptive Statistics: Numerical Methods
4. Introduction to Probability
5. Discrete Probability Distributions
6. Continuous Probability Distributions
7. Sampling and Sampling Distributions
8. Interval Estimation
9. Hypothesis Testing
10. Comparisons Involving Means
11. Comparisons Involving Proportions and A Test of Independence
12. Simple Linear Regression
13. Multiple Regression
14. Statistical Methods for Quality Control
2-2
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, STUDY NOTES & REFERENCE GUIDE
Preface
The purpose of Essentials of Modern Business Statistics with Microsoft Excel is to
provide students, primarily in the fields of business administration and economics,
with a sound conceptual introduction to the field of statistics and its many
applications. The text is applications-oriented and has been written with the needs of
the nonmathematician in mind.
The solutions manual furnishes assistance by identifying learning objectives and
providing detailed solutions for all exercises in the text.
Note: The solutions to the case problems are included in a separate manual.
Acknowledgements
We would like to provide special recognition to Catherine J. Williams for her efforts in
preparing the solutions manual.
David R. Anderson
Dennis J. Sweeney
Thomas A. Williams
2-3
LecClara ‑ Stuvia | Page 3 of 313
, STUDY NOTES & REFERENCE GUIDE
Chapter 1
Data and Statistics
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. Understand that data are obtained using one of the following scales of measurement: nominal,
ordinal, interval, and ratio.
4. Obtain an understanding of the difference between qualitative, quantitative, crossectional and time
series data.
5. Learn about the sources of data for statistical analysis both internal and external to the firm.
6. Be aware of how errors can arise in data.
7. Know the meaning of descriptive statistics and statistical inference.
8. Be able to distinguish between a population and a sample.
9. Understand the role a sample plays in making statistical inferences about the population.
2-4
LecClara ‑ Stuvia | Page 4 of 313
Solutions Manual to Accompany
Essentials of Modern
Business Statistics
With Microsoft Excel
Second Edition
David R. Anderson
University of Cincinnati
Dennis J. Sweeney
University of Cincinnati
Thomas A. Williams
Rochester Institute of Technology
South-Western
Cincinnati,
Ohio
2-1
LecClara ‑ Stuvia | Page 1 of 313
, STUDY NOTES & REFERENCE GUIDE
Contents
Preface
Chapte
r
1. Data and Statistics
2. Descriptive Statistics: Tabular and Graphical Methods
3. Descriptive Statistics: Numerical Methods
4. Introduction to Probability
5. Discrete Probability Distributions
6. Continuous Probability Distributions
7. Sampling and Sampling Distributions
8. Interval Estimation
9. Hypothesis Testing
10. Comparisons Involving Means
11. Comparisons Involving Proportions and A Test of Independence
12. Simple Linear Regression
13. Multiple Regression
14. Statistical Methods for Quality Control
2-2
LecClara ‑ Stuvia | Page 2 of 313
, STUDY NOTES & REFERENCE GUIDE
Preface
The purpose of Essentials of Modern Business Statistics with Microsoft Excel is to
provide students, primarily in the fields of business administration and economics,
with a sound conceptual introduction to the field of statistics and its many
applications. The text is applications-oriented and has been written with the needs of
the nonmathematician in mind.
The solutions manual furnishes assistance by identifying learning objectives and
providing detailed solutions for all exercises in the text.
Note: The solutions to the case problems are included in a separate manual.
Acknowledgements
We would like to provide special recognition to Catherine J. Williams for her efforts in
preparing the solutions manual.
David R. Anderson
Dennis J. Sweeney
Thomas A. Williams
2-3
LecClara ‑ Stuvia | Page 3 of 313
, STUDY NOTES & REFERENCE GUIDE
Chapter 1
Data and Statistics
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. Understand that data are obtained using one of the following scales of measurement: nominal,
ordinal, interval, and ratio.
4. Obtain an understanding of the difference between qualitative, quantitative, crossectional and time
series data.
5. Learn about the sources of data for statistical analysis both internal and external to the firm.
6. Be aware of how errors can arise in data.
7. Know the meaning of descriptive statistics and statistical inference.
8. Be able to distinguish between a population and a sample.
9. Understand the role a sample plays in making statistical inferences about the population.
2-4
LecClara ‑ Stuvia | Page 4 of 313
