TEST BANK x
Essentials of Modern Business Statistics with Microsoft Excel,
x x x x x x x
by Anderson
x x
8th xEdition
TEST BANK x
,Chapter 1 x
Data and Statistics
x x
Learning xObjectives
1. Obtain xan xappreciation xfor xthe xbreadth xof xstatistical xapplications xin xbusiness xand xeconomics.
2. Understand xthe xmeaning xof xthe xterms xelements, xvariables, xand xobservations xas
xthey xare xused xin xstatistics.
3. Obtain xan xunderstanding xof xthe xdifference xbetween xcategorical, xquantitative, xcross-
sectional, xand xtime xseries xdata.
4. Learn xabout xthe xsources xof xdata xfor xstatistical xanalysis xboth xinternal xand xexternal xto xthe xfirm.
5. Be xaware xof xhow xerrors xcan xarise xin xdata.
6. Know xthe xmeaning xof xdescriptive xstatistics xand xstatistical xinference.
7. Be xable xto xdistinguish xbetween xa xpopulation xand xa xsample.
8. Understand xthe xrole xa xsample xplays xin xmaking xstatistical xinferences xabout xthe xpopulation.
9. Know xthe xmeaning xof xthe xterms xanalytics, xbig xdata xand xdata xmining.
10. Be xaware xof xethical xguidelines xfor xstatistical xpractice.
,
, Solutions:
1. Statistics xcan xbe xreferred xto xas xnumerical xfacts. xIn xa xbroader xsense, xstatistics xis
xthe xfield xof xstudy xdealing xwith xthe xcollection, xanalysis, xpresentation, xand
xinterpretation xof xdata.
2. a. The xten xelements xare xthe xten xtablet xcomputers.
b. Five xvariables: xCost x($), xOperating xSystem, xDisplay xSize x(inches), xBattery xLife
x(hours), xCPU xManufacturer
c. Categorical xvariables: xOperating xSystem xand xCPU xManufacturer
Quantitative xvariables: xCost x($), xDisplay xSize x(inches), xand xBattery xLife x(hours)
d. x
Variable Measurement x Scale
Cost x($) Ratio
Operating xSystem Nominal
Display xSize x(inches) Ratio
Battery xLife x(hours) Ratio
x CPU xManufacturer Nominal
3. a. Average xcost x= x5829/10 x= x$582.90
b. Average xcost xwith xa xWindows xoperating xsystem x= x3616/5
= x$723.20 xAverage xcost xwith xan xAndroid xoperating
x
x system x= x1714/4 x= x$428.5 xThe xaverage xcost xwith xa
x Windows xoperating xsystem xis xmuch xhigher.
c. 2 xof x10 xor x20% xuse xa xCPU xmanufactured xby xTI xOMAP.
d. 4 xof x10 xor x40% xuse xan xAndroid xoperating xsystem.
4. a. There xare xeight xelements xin xthis xdata xset; xeach xelement xcorresponds xto xone xof xthe
xeight xmodels xof xcordless xtelephones.
b. Categorical xvariables: xVoice xQuality xand xHandset
x on xBase xQuantitative xvariables: xPrice, xOverall
Score, xand xTalk xTime
x
c. Price x– xratio xmeasurement
Overall xScore x– xinterval
xmeasurement xVoice xQuality x–
xordinal xmeasurement xHandset xon
xBase x– xnominal xmeasurement xTalk
xTime x– xratio xmeasurement
5. a. Average xPrice x= x545/8 x= x$68.13
4 x- x2
Essentials of Modern Business Statistics with Microsoft Excel,
x x x x x x x
by Anderson
x x
8th xEdition
TEST BANK x
,Chapter 1 x
Data and Statistics
x x
Learning xObjectives
1. Obtain xan xappreciation xfor xthe xbreadth xof xstatistical xapplications xin xbusiness xand xeconomics.
2. Understand xthe xmeaning xof xthe xterms xelements, xvariables, xand xobservations xas
xthey xare xused xin xstatistics.
3. Obtain xan xunderstanding xof xthe xdifference xbetween xcategorical, xquantitative, xcross-
sectional, xand xtime xseries xdata.
4. Learn xabout xthe xsources xof xdata xfor xstatistical xanalysis xboth xinternal xand xexternal xto xthe xfirm.
5. Be xaware xof xhow xerrors xcan xarise xin xdata.
6. Know xthe xmeaning xof xdescriptive xstatistics xand xstatistical xinference.
7. Be xable xto xdistinguish xbetween xa xpopulation xand xa xsample.
8. Understand xthe xrole xa xsample xplays xin xmaking xstatistical xinferences xabout xthe xpopulation.
9. Know xthe xmeaning xof xthe xterms xanalytics, xbig xdata xand xdata xmining.
10. Be xaware xof xethical xguidelines xfor xstatistical xpractice.
,
, Solutions:
1. Statistics xcan xbe xreferred xto xas xnumerical xfacts. xIn xa xbroader xsense, xstatistics xis
xthe xfield xof xstudy xdealing xwith xthe xcollection, xanalysis, xpresentation, xand
xinterpretation xof xdata.
2. a. The xten xelements xare xthe xten xtablet xcomputers.
b. Five xvariables: xCost x($), xOperating xSystem, xDisplay xSize x(inches), xBattery xLife
x(hours), xCPU xManufacturer
c. Categorical xvariables: xOperating xSystem xand xCPU xManufacturer
Quantitative xvariables: xCost x($), xDisplay xSize x(inches), xand xBattery xLife x(hours)
d. x
Variable Measurement x Scale
Cost x($) Ratio
Operating xSystem Nominal
Display xSize x(inches) Ratio
Battery xLife x(hours) Ratio
x CPU xManufacturer Nominal
3. a. Average xcost x= x5829/10 x= x$582.90
b. Average xcost xwith xa xWindows xoperating xsystem x= x3616/5
= x$723.20 xAverage xcost xwith xan xAndroid xoperating
x
x system x= x1714/4 x= x$428.5 xThe xaverage xcost xwith xa
x Windows xoperating xsystem xis xmuch xhigher.
c. 2 xof x10 xor x20% xuse xa xCPU xmanufactured xby xTI xOMAP.
d. 4 xof x10 xor x40% xuse xan xAndroid xoperating xsystem.
4. a. There xare xeight xelements xin xthis xdata xset; xeach xelement xcorresponds xto xone xof xthe
xeight xmodels xof xcordless xtelephones.
b. Categorical xvariables: xVoice xQuality xand xHandset
x on xBase xQuantitative xvariables: xPrice, xOverall
Score, xand xTalk xTime
x
c. Price x– xratio xmeasurement
Overall xScore x– xinterval
xmeasurement xVoice xQuality x–
xordinal xmeasurement xHandset xon
xBase x– xnominal xmeasurement xTalk
xTime x– xratio xmeasurement
5. a. Average xPrice x= x545/8 x= x$68.13
4 x- x2
