Test Bank for Essentials of Modern Business Statistics with Microsoft Excel 8th Edition Anderson - Complete Solutions Manual

TEST BANK k




Essentials of Modern Business Statistics with Microsoft Excel, by Ande
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rson

8thkEdition




TEST BANK k

,Chapter 1 k




Data and Statistics
k k




LearningkObjectives

1. Obtainkankappreciationkforkthekbreadthkofkstatisticalkapplicationskinkbusinesskandkeconomics.

2. Understandkthekmeaningkofkthektermskelements,kvariables,kandkobservationskasktheykarekusedkin
kstatistics.



3. Obtainkankunderstandingkofkthekdifferencekbetweenkcategorical,kquantitative,kcross-
sectional,kandktimekserieskdata.

4. Learnkaboutktheksourceskofkdatakforkstatisticalkanalysiskbothkinternalkandkexternalktokthekfirm.

5. Bekawarekofkhowkerrorskcankarisekinkdata.

6. Knowkthekmeaningkofkdescriptivekstatisticskandkstatisticalkinference.

7. Bekablektokdistinguishkbetweenkakpopulationkandkaksample.

8. Understandkthekrolekaksamplekplayskinkmakingkstatisticalkinferenceskaboutkthekpopulation.

9. Knowkthekmeaningkofkthektermskanalytics,kbigkdatakandkdatakmining.

10. Bekawarekofkethicalkguidelineskforkstatisticalkpractice.

,
, Solutions:

1. Statisticskcankbekreferredktokasknumericalkfacts.kInkakbroaderksense,kstatisticskiskthekfieldkofkstudyk
dealingkwithkthekcollection,kanalysis,kpresentation,kandkinterpretationkofkdata.

2. a. Thektenkelementskarekthektenktabletkcomputers.

b. Fivekvariables:kCostk($),kOperatingkSystem,kDisplaykSizek(inches),kBatterykLifek(hours),kCPU
kManufacturer



c. Categoricalkvariables:kOperatingkSystemkandkCPUkManufacturer

Quantitativekvariables:kCostk($),kDisplaykSizek(inches),kandkBatterykLifek(hours)

d. k

Variable Measurementk Scale
Costk($) Ratio
OperatingkSystem Nominal
DisplaykSizek(inches) Ratio
BatterykLifek(hours) Ratio
k CPUkManufacturer Nominal

3. a. Averagekcostk=k5829/10k=k$582.90

b. AveragekcostkwithkakWindowskoperatingksystemk=k3616/5k=k$723.20

k AveragekcostkwithkankAndroidkoperatingksystemk=k1714/4k=k$428.5

k ThekaveragekcostkwithkakWindowskoperatingksystemkiskmuchkhigher.

c. 2kofk10kork20%kusekakCPUkmanufacturedkbykTIkOMAP.

d. 4kofk10kork40%kusekankAndroidkoperatingksystem.

4. a.
Therekarekeightkelementskinkthiskdatakset;keachkelementkcorrespondsktokonekofkthekeightkmodelsk
ofkcordlessktelephones.

b. Categoricalkvariables:kVoicekQualitykandkHandsetkonkBasek

Quantitativekvariables:kPrice,kOverallkScore,kandkTalkkTime

c. Pricek–kratiokmeasurement
OverallkScorek–
kintervalkmeasurementkVoicekQualityk–

kordinalkmeasurementkHandsetkonkBasek–

knominalkmeasurementkTalkkTimek–

kratiokmeasurement



5. a. AveragekPricek=k545/8k=k$68.13

b. AveragekTalkkTimek=k71/8k=k8.875khours

c. PercentagekratedkExcellent:k 2kofk8 2/8k=k.25,kork25%




4k-k2