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SOLUTION MANUAL FOR ESSENTIALS OF
STATISTICS FOR BUSINESS AND
ECONOMICS, 8TH EDITION BY R.
ANDERSON
JK
[COMPANY NAME] [Company address]
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Distribution of this document is illegal
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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. Obtain an understanding of the difference between categorical, quantitative, crossectional and time
series data.
4. Learn about the sources of data for statistical analysis, both internal and external, to the 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.
1-1
© 2018 Cengage Learning. All Rights Reserved.
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Chapter 1
Solutions:
1. Statistics can be referred to as numerical facts. In a broader sense, statistics is the field of study
dealing with the collection, analysis, presentation and interpretation of data.
2. a. The ten elements are the ten tablet computers
b. 5 variables: Cost ($), Operating System, Display Size (inches), Battery Life (hours), CPU
Manufacturer
c. Categorical variables: Operating System and CPU Manufacturer
Quantitative variables: Cost ($), Display Size (inches), and Battery Life (hours)
d.
Variable Measurement Scale
Cost ($) Ratio
Operating System Nominal
Display Size (inches) Ratio
Battery Life (hours) Ratio
CPU Manufacturer Nominal
3. a. Average cost = 5829/10 = $582.90
b. Average cost with a Windows operating system = 3616/5 = $723.20
Average cost with an Android operating system = 1714/4 = $428.5
The average cost with a Windows operating system is much higher.
c. 2 of 10 or 20% use a CPU manufactured by TI OMAP
d. 4 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
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
c. Percentage rated Excellent: 2 of 8 2/8 = .25, or 25%
d. Percentage with Handset on Base: 4 of 8 4/8 = .50, or 50%
1-2
© 2018 Cengage Learning. All Rights Reserved.
May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
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Data and Statistics
6. a. Categorical
b. Quantitative
c. Categorical
d. Quantitative
e. Quantitative
7. a. Each question has a yes or no categorical response.
b. Yes and no are the labels for the customer responses. A nominal scale is being used.
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. Categorical
b. 30 of 71; 42.3%
10. a. Categorical
b. Percentages
c. 44 of 1080 respondents or approximately 4% strongly agree with allowing drivers of motor vehicles
to talk on a hand-held cell phone while driving.
d. 165 of the 1080 respondents or 15% of said they somewhat disagree and 741 or 69% said they
strongly disagree. Thus, there does not appear to be general support for allowing drivers of motor
vehicles to talk on a hand-held cell phone while driving.
11. a. Categorical
b. 295 + 672 + 51 = 1018
c. (295/1018)100 = 29%
d. Support against; (672/1018)100 = 66% said they would vote against the law.
12. a. The population is all visitors coming to the state of Hawaii.
b. Since airline flights carry the vast majority of visitors to the state, the use of questionnaires for
passengers during incoming flights is a good way to reach this population. The questionnaire
actually appears on the back of a mandatory plants and animals declaration form that passengers
must complete during the incoming flight. A large percentage of passengers complete the visitor
information questionnaire.
1-3
© 2018 Cengage Learning. All Rights Reserved.
May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Downloaded by: clintonson |
Distribution of this document is illegal
SOLUTION MANUAL FOR ESSENTIALS OF
STATISTICS FOR BUSINESS AND
ECONOMICS, 8TH EDITION BY R.
ANDERSON
JK
[COMPANY NAME] [Company address]
Downloaded by: clintonson |
Distribution of this document is illegal
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
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. Obtain an understanding of the difference between categorical, quantitative, crossectional and time
series data.
4. Learn about the sources of data for statistical analysis, both internal and external, to the 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.
1-1
© 2018 Cengage Learning. All Rights Reserved.
May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Downloaded by: clintonson |
Distribution of this document is illegal
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Chapter 1
Solutions:
1. Statistics can be referred to as numerical facts. In a broader sense, statistics is the field of study
dealing with the collection, analysis, presentation and interpretation of data.
2. a. The ten elements are the ten tablet computers
b. 5 variables: Cost ($), Operating System, Display Size (inches), Battery Life (hours), CPU
Manufacturer
c. Categorical variables: Operating System and CPU Manufacturer
Quantitative variables: Cost ($), Display Size (inches), and Battery Life (hours)
d.
Variable Measurement Scale
Cost ($) Ratio
Operating System Nominal
Display Size (inches) Ratio
Battery Life (hours) Ratio
CPU Manufacturer Nominal
3. a. Average cost = 5829/10 = $582.90
b. Average cost with a Windows operating system = 3616/5 = $723.20
Average cost with an Android operating system = 1714/4 = $428.5
The average cost with a Windows operating system is much higher.
c. 2 of 10 or 20% use a CPU manufactured by TI OMAP
d. 4 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
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
c. Percentage rated Excellent: 2 of 8 2/8 = .25, or 25%
d. Percentage with Handset on Base: 4 of 8 4/8 = .50, or 50%
1-2
© 2018 Cengage Learning. All Rights Reserved.
May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Downloaded by: clintonson |
Distribution of this document is illegal
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Data and Statistics
6. a. Categorical
b. Quantitative
c. Categorical
d. Quantitative
e. Quantitative
7. a. Each question has a yes or no categorical response.
b. Yes and no are the labels for the customer responses. A nominal scale is being used.
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. Categorical
b. 30 of 71; 42.3%
10. a. Categorical
b. Percentages
c. 44 of 1080 respondents or approximately 4% strongly agree with allowing drivers of motor vehicles
to talk on a hand-held cell phone while driving.
d. 165 of the 1080 respondents or 15% of said they somewhat disagree and 741 or 69% said they
strongly disagree. Thus, there does not appear to be general support for allowing drivers of motor
vehicles to talk on a hand-held cell phone while driving.
11. a. Categorical
b. 295 + 672 + 51 = 1018
c. (295/1018)100 = 29%
d. Support against; (672/1018)100 = 66% said they would vote against the law.
12. a. The population is all visitors coming to the state of Hawaii.
b. Since airline flights carry the vast majority of visitors to the state, the use of questionnaires for
passengers during incoming flights is a good way to reach this population. The questionnaire
actually appears on the back of a mandatory plants and animals declaration form that passengers
must complete during the incoming flight. A large percentage of passengers complete the visitor
information questionnaire.
1-3
© 2018 Cengage Learning. All Rights Reserved.
May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Downloaded by: clintonson |
Distribution of this document is illegal
