Solution Manual for Essentials of Business Statistics, 3rd Edition by Jaggia

,ACCESSf8Testf8Bankf8forf8Essentialsf8off8Businessf8Statisticsf83rdf8Editionf
8Jaggia
Chapterf801f8–f8Dataf8andf8Dataf8Preparation




Chapter 1. Data and Data Preparation
f8 f8 f8 f8 f8




Solutions
8
f



1.
a. Thef8relevantf8populationf8consistsf8off8allf8Americans.
b. Thef8estimatesf8forf8averagesf8aref8basedf8onf8samplef8data.

2. Thef8valuef835f8isf8thef8estimatedf8averagef8agef8off8thef8population.f8Itf8isf8bothf8c
ostlyf8andf8timef8consumingf8(likelyf8impossible)f8tof8takef8af8censusf8off8allf8vide
of8gamef8playersf8andf8computef8thef8actualf8averagef8age.

3.
a. Thef8populationf8isf8allf8studentsf8enrolledf8inf8thef8accountingf8class.

b. Thef8valuef83.29f8representsf8thef8populationf8parameterf8sincef8wef8a
ref8notf8choosingf8af8samplef8butf8drawingf8resultsf8fromf8thef8actualf8
population.

4.
a. Thef8populationf8isf8allf8recentf8collegef8graduatesf8withf8anf8engineeringf8degree.

b. No,f8thef8ave
ragef8salaryf8isf8af8samplef8statisticf8computedf8fromf8af8sampl
e,f8notf8thef8population.

5.
a. Thef8populationf8isf8allf8elderlyf8people.f8Thef8samplef8consistsf8off8949f8
elderlyf8people.
b. 22%f8andf817%f8representf8samplef8statistics.

6.
a. Thef8relevantf8populationf8consistsf8off8allf8USf8citizensf8bornf8inf82019,f8ex
cludingf8non-binaryf8individuals.
b. Thef8averagesf8aref8computedf8fromf8thef8relevantf8samples.

7. Thef8resultingf8dataf8aboutf8livingf8accommodationsf8andf8expensesf8havef8af8w
ell-f8definedf8row-
columnf8format,f8andf8therefore,f8aref8structured.f 8 Thef8dataf8aref8cross-
f8sectionalf8data.

Note:f8Dataf8willf8varyf8duef8tof8thef8naturef8off8sampling.

1-1
©f8McGrawf8Hillf8LLC.f8Allf8rightsf8reserved.f8Nof8reproductionf8orf8distributionf8withoutf8thef8priorf8writtenf8consentf8off8
McGrawf8Hillf8LLC.
mynursytest.store

, 8. Thef8dataf8aref8cross-sectionalf8data.
Note:f8Dataf8willf8varyf8duef8tof8thef8naturef8off8sampling.




1-2
©f8McGrawf8Hillf8LLC.f8Allf8rightsf8reserved.f8Nof8reproductionf8orf8distributionf8withoutf8thef8priorf8writtenf8consentf8off8
McGrawf8Hillf8LLC.
mynursytest.store

, ACCESSf8Testf8Bankf8forf8Essentialsf8off8Businessf8Statisticsf83rdf8Editionf
8Jaggia
Chapterf801f8–f8Dataf8andf8Dataf8Preparation


9. Thef8dataf8aref8timef8seriesf8data.
Note:f8Dataf8willf8varyf8dependingf8onf8thef8datef8off8retrieval.f8Thesef8dataf8weref8
retrievedf8Julyf82019.

Date Adj.f8Closef8Price
7/1/2018 192.55
8/1/2018 195.72
9/1/2018 202.97
10/1/2018 172.33
11/1/2018 176.68
12/1/2018 169.36
1/1/2019 180.90
2/1/2019 182.49
3/1/2019 189.15
4/1/2019 202.28
5/1/2019 188.53
6/1/2019 206.52

10. Thef8frontf8pagef8off8thef8Newf8Yorkf8Timesf8websitef8isf8likelyf8tof8bef8textualf8
(writtenf8reports)f8withf8multimediaf8contentsf8(photographs,f8etc.).f8Thef8res
ultingf8dataf8aref8unstructuredf8inf8thatf8theyf8dof8notf8conformf8tof8af8predefin
edf8row-columnf8format.

11. Dataf8onf8pricef8andf8fuelf8economyf8off8smallf8hybridf8vehiclesf8canf8bef8specif
iedf8inf8af8predefinedf8row-columnf8format,f8andf8therefore,f8aref8structured.
Note:f8Dataf8willf8varyf8duef8tof8thef8naturef8off8sampling.

12. Thef8dataf8forf8Underf8Armour’sf8annualf8revenuef8aref8structuredf8sincef8they
f8aref8specifiedf8inf8af8well-definedf8row-

columnf8format.f 8 Thef8dataf8aref8timef8seriesf8data.f8Note:f8Dataf8willf8varyf8de
pendingf8onf8thef8datef8off8retrieval.f 8 Thesef8dataf8weref8retrievedf8Julyf8201
9.

Annualf8Revenu
Year
ef8(inf8$f8millio
ns)
2018 $5,193
2017 $4,989
2016 $4,833
2015 $3,963
2014 $3,084
2013 $2,332
2012 $1,835
2011 $1,473
2010 $1,064
1-3
©f8McGrawf8Hillf8LLC.f8Allf8rightsf8reserved.f8Nof8reproductionf8orf8distributionf8withoutf8thef8priorf8writtenf8consentf8off8
McGrawf8Hillf8LLC.
mynursytest.store