Essentials of Modern Business Statistics with Microsoft Excel, 9th Edition by Anderson – Latest 2025/2026 100% Verified Correct Revised Edition Test Bank

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Essentials of Modern Business Statistics with Microsoft Excel, by
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Anderson
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9th Edition
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TEST BANK hj

,Chapter 1 hj




Data and Statistics
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Learning Objectives
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1. Obtain an appreciation for the breadth ofstatistical applicationsin businessandeconomics.
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2. Understand the meaning of the terms elements, variables, and observationsas theyare used in
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statistics.
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3. Obtain an understanding of the difference between categorical, quantitative, cross-sectional, and
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time series data.
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4. Learn about the sources ofdata for statistical analysis both internal and external to the firm.
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5. Be aware of howerrors can arise in data.
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6. Knowthe meaning ofdescriptive statisticsand statistical inference.
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7. Be able todistinguish between a population anda sample.
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8. Understandthe rolea sample plays in making statistical inferences about the population.
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9. Know the meaning of the termsanalytics, big data and data mining.
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10. Be aware of ethical guidelines for statistical practice.
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,
, Solutions:

1. Statistics can be referred to as numerical facts. In a broader sense, statistics is the field of study
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dealing with the collection, analysis, presentation, and interpretation of data.
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2. a. The ten elements are the ten tablet computers.
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b. Five variables: Cost ($), OperatingSystem, DisplaySize (inches), BatteryLife (hours), CPU
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Manufacturer
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c. Categorical variables: OperatingSystem andCPUManufacturer hj hj hj hj hj hj




Quantitativevariables: Cost ($), DisplaySize (inches), and BatteryLife (hours) hj hj hj hj hj hj hj hj hj hj




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Variable Measurement Scale hj




Cost ($) hj Ratio
Operating System hj Nominal
DisplaySize (inches) hj hj Ratio
BatteryLife (hours) hj hj Ratio
h CPU Manufacturer
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3. a. Average cost = 5829/10 = $582.90 hj hj hj hj hj




b. Average cost with a Windows operating system = 3616/5 = $723.20 hj hj hj hj hj hj hj hj hj hj




Average cost with an Android operating system = 1714/4 = $428.5
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The average cost with a Windows operating system is much higher.
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c. 2 of 10 or 20% use a CPU manufactured byTI OMAP.
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d. 4 of 10 or 40% use an Android operating system.
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4. a. There are eight elements inthis data set; each element corresponds to one of the eight models of
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cordless telephones.
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b. Categorical variables: Voice Quality and Handset on Base hj hj hj hj hj hj hj




Quantitative variables: Price, Overall Score, andTalkTime
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c. Price –ratio measurement hj hj hj




Overall Score – interval measurement hj hj hj hj




Voice Quality – ordinal measurement
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Handset on Base – nominal measurement
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Talk Time – ratio measurement
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5. a. Average Price = 545/8 = $68.13 hj hj hj hj hj




b. Average Talk Time = 71/8 = 8.875 hours hj hj hj hj hj hj hj




c. Percentage rated Excellent: 2 of 8 hj hj h j hj hj 2/8 = .25, or 25%hj hj hj hj




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