Essentials of Modern Business Statistics with Microsoft Excel 8th Edition – Full Solution Manual & Test Bank

TEST BANK M



Essentials of Modern Business Statistics with Microsoft Excel
M M M M M M M




by David R. Anderson, Dennis J. Sweeney, Thomas A. Williams,
M M M M M M M M M



Jeffrey D. Camm
M M



8th Edition M




FULL TEST BANK
M M

,Chapter 1 M




Data and Statistics
M M




LearningMObjectives

1. ObtainManMappreciationMforMtheMbreadthMofMstatisticalMapplicationsMinMbusinessMandMeconomics.

2. UnderstandMtheMmeaningMofMtheMtermsMelements,Mvariables,MandMobservationsMasMtheyMareMu
sedMinMstatistics.

3. ObtainManMunderstandingMofMtheMdifferenceMbetweenMcategorical,Mquantitative,Mcross-
sectional,MandMtimeMseriesMdata.

4. LearnMaboutMtheMsourcesMofMdataMforMstatisticalManalysisMbothMinternalMandMexternalMtoMtheMfirm.

5. BeMawareMofMhowMerrorsMcanMariseMinMdata.

6. KnowMtheMmeaningMofMdescriptiveMstatisticsMandMstatisticalMinference.

7. BeMableMtoMdistinguishMbetweenMaMpopulationMandMaMsample.

8. UnderstandMtheMroleMaMsampleMplaysMinMmakingMstatisticalMinferencesMaboutMtheMpopulation.

9. KnowMtheMmeaningMofMtheMtermsManalytics,MbigMdataMandMdataMmining.

10. BeMawareMofMethicalMguidelinesMforMstatisticalMpractice.

,
, Solutions:

1. StatisticsMcanMbeMreferredMtoMasMnumericalMfacts.MInMaMbroaderMsense,MstatisticsMisMtheMfieldM
ofMstudyMdealingMwithMtheMcollection,Manalysis,Mpresentation,MandMinterpretationMofMdata.

2. a. TheMtenMelementsMareMtheMtenMtabletMcomputers.

b. FiveMvariables:MCostM($),MOperatingMSystem,MDisplayMSizeM(inches),MBatteryMLifeM(hours),
MCPUMManufacturer



c. CategoricalMvariables:MOperatingMSystemMandMCPUMManufacturer

QuantitativeMvariables:MCostM($),MDisplayMSizeM(inches),MandMBatteryMLifeM(hours)

d. M

Variable MeasurementM Scale
CostM($) Ratio
OperatingMSystem Nominal
DisplayMSizeM(inches) Ratio
BatteryMLifeM(hours) Ratio
M CPUMManufacturer Nominal

3. a. AverageMcostM=M5829/10M=M$582.90

b. AverageMcostMwithMaMWindowsMoperatingMsystemM=M3616/5M=M$72

3.20MAverageMcostMwithManMAndroidMoperatingMsystemM=M1714/4M

=M$428.5MTheMaverageMcostMwithMaMWindowsMoperatingMsystemMis

M muchMhigher.

c. 2MofM10MorM20%MuseMaMCPUMmanufacturedMbyMTIMOMAP.

d. 4MofM10MorM40%MuseManMAndroidMoperatingMsystem.

4. a.
ThereMareMeightMelementsMinMthisMdataMset;MeachMelementMcorrespondsMtoMoneMofMtheMei
ghtMmodelsMofMcordlessMtelephones.

b. CategoricalMvariables:MVoiceMQualityMandMHandsetMonMB

aseMQuantitativeMvariables:MPrice,MOverallMScore,MandMTal

kMTime

c. PriceM–MratioMmeasurement
OverallMScoreM–
MintervalMmeasurementMVoice MQualityM–

MordinalMmeasurementMHandsetMonMBaseM–

MnominalMmeasurementMTalkMTimeM–

MratioMmeasurement



5. a. AverageMPriceM=M545/8M=M$68.13

b. AverageMTalkMTimeM=M71/8M=M8.875Mhours

c. PercentageMratedMExcellent:M 2MofM8 2/8M=M.25,MorM25%
4M-M2