Essentials of Modern Business Statistics with Microsoft Excel 8th Edition – Full Solution Manual (Chapters 1-4)

TEST BANK l



Essentials of Modern Business Statistics with Microsoft Excel
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by David R. Anderson, Dennis J. Sweeney, Thomas A. Williams,
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Jeffrey D. Camm
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8th Edition l




FULLTEST BANK
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,Chapter 1 l




Data and Statistics
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LearninglObjectives

1. Obtainlanlappreciationlforlthelbreadthloflstatisticallapplicationslinlbusinesslandleconomics.

2. Understandlthelmeaninglofltheltermslelements,lvariables,landlobservationslasltheylarelusedlinlstati
stics.

3. Obtainlanlunderstandinglofltheldifferencelbetweenlcategorical,lquantitative,lcross-
sectional,landltimelseriesldata.

4. Learnlaboutlthelsourceslofldatalforlstatisticallanalysislbothlinternallandlexternalltolthelfirm.

5. Belawareloflhowlerrorslcanlariselinldata.

6. Knowlthelmeaninglofldescriptivelstatisticslandlstatisticallinference.

7. Belableltoldistinguishlbetweenlalpopulationlandlalsample.

8. Understandlthelrolelalsamplelplayslinlmakinglstatisticallinferenceslaboutlthelpopulation.

9. Knowlthelmeaninglofltheltermslanalytics,lbigldatalandldatalmining.

10. Belawareloflethicallguidelineslforlstatisticallpractice.

,
, Solutions:

1. Statisticslcanlbelreferredltolaslnumericallfacts.lInlalbroaderlsense,lstatisticslislthelfieldloflstudyldeali
nglwithlthelcollection,lanalysis,lpresentation,landlinterpretationlofldata.

2. a. Theltenlelementslareltheltenltabletlcomputers.

b. Fivelvariables:lCostl($),lOperatinglSystem,lDisplaylSizel(inches),lBatterylLifel(hours),lCPUlMa
nufacturer

c. Categoricallvariables:lOperatinglSystemlandlCPUlManufacturer

Quantitativelvariables:lCostl($),lDisplaylSizel(inches),landlBatterylLifel(hours)

d. l

Variable Measurementl Scale
Costl($) Ratio
OperatinglSystem Nominal
DisplaylSizel(inches) Ratio
BatterylLifel(hours) Ratio
l CPUlManufacturer Nominal

3. a. Averagelcostl=l5829/10l=l$582.90

b. AveragelcostlwithlalWindowsloperatinglsysteml=l3616/5l=l$723.20lA

veragelcostlwithlanlAndroidloperatinglsysteml=l1714/4l=l$428.5lThela

veragelcostlwithlalWindowsloperatinglsystemlislmuchlhigher.

c. 2lofl10lorl20%luselalCPUlmanufacturedlbylTIlOMAP.

d. 4lofl10lorl40%luselanlAndroidloperatinglsystem.

4. a.
Therelareleightlelementslinlthisldatalset;leachlelementlcorrespondsltolonelofltheleightlmodelsl
oflcordlessltelephones.

b. Categoricallvariables:lVoicelQualitylandlHandsetlonlBaselQ

uantitativelvariables:lPrice,lOveralllScore,landlTalklTime

c. Pricel–lratiolmeasurement
OveralllScorel–
lintervall measurementlVoicelQualityl–

lordinallmeasurementlHandsetlonlBasel–

lnominallmeasurementlTalklTimel–

lratiolmeasurement



5. a. AveragelPricel=l545/8l=l$68.13

b. AveragelTalklTimel=l71/8l=l8.875lhours

c. PercentagelratedlExcellent:l 2lofl8 2/8l=l.25,lorl25%




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