Essentials of Modern Business Statistics with
Microsoft® Excel – 2nd Edition
ST
SOLUTIONS
UV
IA
MANUAL
_A
PP
David R. Anderson
RO
Comprehensive Solutions Manual for
VE
Instructors and Students
D?
© David R. Anderson. All rights reserved. Reproduction or distribution without permission is
prohibited.
©MedConnoisseur
, TABLE OF CONTENTS
Solutions Manual – Essentials of Modern Business Statistics with Microsoft
Excel, 2nd Edition (ISBN Verified)
David R. Anderson
ST
Chapter 1. Data and Statistics,
Chapter 2. Descriptive Statistics: Tabular and Graphical Methods,
UV
Chapter 3. Descriptive Statistics: Numerical Methods,
Chapter 4. Introduction to Probability,
Chapter 5. Discrete Probability Distributions,
Chapter 6. Continuous Probability Distributions,
IA
Chapter 7. Sampling and Sampling Distributions,
Chapter 8. Interval Estimation,
Chapter 9. Hypothesis Testing,
_A
Chapter 10. Comparisons Involving Means,
Chapter 11. Comparisons Involving Proportions and A Test of Independence,
Chapter 12. Simple Linear Regression,
Chapter 13. Multiple Regression,
PP
Chapter 14. Statistical Methods for Quality Control
RO
VE
D?
©MedConnoisseur
, Chapter 1
Data and Statistics
ST
Learning Objectives
UV
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. Understand that data are obtained using one of the following scales of measurement: nominal,
ordinal, interval, and ratio.
IA
4. Obtain an understanding of the difference between qualitative, quantitative, crossectional and time
series data.
_A
5. Learn about the sources of data for statistical analysis both internal and external to the firm.
6. Be aware of how errors can arise in data.
7. Know the meaning of descriptive statistics and statistical inference.
PP
8. Be able to distinguish between a population and a sample.
9. Understand the role a sample plays in making statistical inferences about the population.
RO
VE
D?
2-4
, 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.
ST
2. a. 9
b. 4
UV
c. Country and room rate are qualitative variables; number of rooms and the overall score are
quantitative variables.
d. Country is nominal; room rate is ordinal; number of rooms is ratio and overall score is interval.
3. a. Average number of rooms = 808/9 = 89.78 or approximately 90 rooms
IA
b. 2 of 9 are located in England; approximately 22%
c. 4 of 9 have a room rate of $$; approximately 44%
4. a. 10
_A
b. All brands are models of minisystems manufactured.
c. Average price = 3140/10 = $314
d. $314
PP
5. a. 5
b. Price, CD capacity, and the number of tape decks are quantitative. Sound quality and FM tuning
sensitivity and selectivity are qualitative.
RO
c. Average CD capacity = 30/10 = 3.
7
d. (100) = 70%
10
4
VE
e. (100) = 40%
10
6. Questions a, c, and d are quantitative.
Questions b and e are qualitative.
D?
7. a. The variable is qualitative.
b. Nominal with four labels or categories.
8. a. 1005
b. Qualitative
2-5
Microsoft® Excel – 2nd Edition
ST
SOLUTIONS
UV
IA
MANUAL
_A
PP
David R. Anderson
RO
Comprehensive Solutions Manual for
VE
Instructors and Students
D?
© David R. Anderson. All rights reserved. Reproduction or distribution without permission is
prohibited.
©MedConnoisseur
, TABLE OF CONTENTS
Solutions Manual – Essentials of Modern Business Statistics with Microsoft
Excel, 2nd Edition (ISBN Verified)
David R. Anderson
ST
Chapter 1. Data and Statistics,
Chapter 2. Descriptive Statistics: Tabular and Graphical Methods,
UV
Chapter 3. Descriptive Statistics: Numerical Methods,
Chapter 4. Introduction to Probability,
Chapter 5. Discrete Probability Distributions,
Chapter 6. Continuous Probability Distributions,
IA
Chapter 7. Sampling and Sampling Distributions,
Chapter 8. Interval Estimation,
Chapter 9. Hypothesis Testing,
_A
Chapter 10. Comparisons Involving Means,
Chapter 11. Comparisons Involving Proportions and A Test of Independence,
Chapter 12. Simple Linear Regression,
Chapter 13. Multiple Regression,
PP
Chapter 14. Statistical Methods for Quality Control
RO
VE
D?
©MedConnoisseur
, Chapter 1
Data and Statistics
ST
Learning Objectives
UV
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. Understand that data are obtained using one of the following scales of measurement: nominal,
ordinal, interval, and ratio.
IA
4. Obtain an understanding of the difference between qualitative, quantitative, crossectional and time
series data.
_A
5. Learn about the sources of data for statistical analysis both internal and external to the firm.
6. Be aware of how errors can arise in data.
7. Know the meaning of descriptive statistics and statistical inference.
PP
8. Be able to distinguish between a population and a sample.
9. Understand the role a sample plays in making statistical inferences about the population.
RO
VE
D?
2-4
, 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.
ST
2. a. 9
b. 4
UV
c. Country and room rate are qualitative variables; number of rooms and the overall score are
quantitative variables.
d. Country is nominal; room rate is ordinal; number of rooms is ratio and overall score is interval.
3. a. Average number of rooms = 808/9 = 89.78 or approximately 90 rooms
IA
b. 2 of 9 are located in England; approximately 22%
c. 4 of 9 have a room rate of $$; approximately 44%
4. a. 10
_A
b. All brands are models of minisystems manufactured.
c. Average price = 3140/10 = $314
d. $314
PP
5. a. 5
b. Price, CD capacity, and the number of tape decks are quantitative. Sound quality and FM tuning
sensitivity and selectivity are qualitative.
RO
c. Average CD capacity = 30/10 = 3.
7
d. (100) = 70%
10
4
VE
e. (100) = 40%
10
6. Questions a, c, and d are quantitative.
Questions b and e are qualitative.
D?
7. a. The variable is qualitative.
b. Nominal with four labels or categories.
8. a. 1005
b. Qualitative
2-5
