TEST BANK Essentials of Modern Business Statistics with Microsoft Excel, by Anderson 8th Edition

TEST BANK
Essentials of Modern Business Statistics with Microsoft Excel, by
Anderson

8th Edition




TEST BANK

,Chapter 1 L


Data and Statistics
L L




Learning LObjectives

1. Obtain Lan Lappreciation Lfor Lthe Lbreadth Lof Lstatistical Lapplications Lin Lbusiness Land Leconomics.

2. Understand Lthe Lmeaning Lof Lthe Lterms Lelements, Lvariables, Land Lobservations Las Lthey
Lare Lused Lin Lstatistics.

3. Obtain Lan Lunderstanding Lof Lthe Ldifference Lbetween Lcategorical, Lquantitative, Lcross-
sectional, Land Ltime Lseries Ldata.

4. Learn Labout Lthe Lsources Lof Ldata Lfor Lstatistical Lanalysis Lboth Linternal Land Lexternal Lto Lthe Lfirm.

5. Be Laware Lof Lhow Lerrors Lcan Larise Lin Ldata.

6. Know Lthe Lmeaning Lof Ldescriptive Lstatistics Land Lstatistical Linference.

7. Be Lable Lto Ldistinguish Lbetween La Lpopulation Land La Lsample.

8. Understand Lthe Lrole La Lsample Lplays Lin Lmaking Lstatistical Linferences Labout Lthe Lpopulation.

9. Know Lthe Lmeaning Lof Lthe Lterms Lanalytics, Lbig Ldata Land Ldata Lmining.

10. Be Laware Lof Lethical Lguidelines Lfor Lstatistical Lpractice.

,
, Solutions:

1. Statistics Lcan Lbe Lreferred Lto Las Lnumerical Lfacts. LIn La Lbroader Lsense, Lstatistics Lis
Lthe Lfield Lof Lstudy Ldealing Lwith Lthe Lcollection, Lanalysis, Lpresentation, Land
Linterpretation Lof Ldata.

2. a. The Lten Lelements Lare Lthe Lten Ltablet Lcomputers.

b. Five Lvariables: LCost L($), LOperating LSystem, LDisplay LSize L(inches), LBattery LLife
L(hours), LCPU LManufacturer

c. Categorical Lvariables: LOperating LSystem Land LCPU LManufacturer

Quantitative Lvariables: LCost L($), LDisplay LSize L(inches), Land LBattery LLife L(hours)

d. L
Variable Measurement LScale
Cost L($) Ratio
Operating LSystem Nominal
Display LSize L(inches) Ratio
Battery LLife L(hours) Ratio
L CPU LManufacturer Nominal

3. a. Average Lcost L= L5829/10 L= L$582.90

b. Average Lcost Lwith La LWindows Loperating Lsystem L= L3616/5

L= L$723.20 LAverage Lcost Lwith Lan LAndroid Loperating

Lsystem L= L1714/4 L= L$428.5 LThe Laverage Lcost Lwith La

LWindows Loperating Lsystem Lis Lmuch Lhigher.

c. 2 Lof L10 Lor L20% Luse La LCPU Lmanufactured Lby LTI LOMAP.

d. 4 Lof L10 Lor L40% Luse Lan LAndroid Loperating Lsystem.

4. a. There Lare Leight Lelements Lin Lthis Ldata Lset; Leach Lelement Lcorresponds Lto Lone Lof Lthe
Leight Lmodels Lof Lcordless Ltelephones.

b. Categorical Lvariables: LVoice LQuality Land LHandset

Lon LBase LQuantitative Lvariables: LPrice, LOverall

LScore, Land LTalk LTime

c. Price L– Lratio Lmeasurement
Overall LScore L– Linterval Lmeasurement
LVoice LQuality L– Lordinal Lmeasurement
LHandset Lon LBase L– Lnominal
Lmeasurement LTalk LTime L– Lratio
Lmeasurement

5. a. Average LPrice L= L545/8 L= L$68.13

b. Average LTalk LTime L= L71/8 L= L8.875 Lhours

c. Percentage Lrated LExcellent: L 2 Lof L8 2/8 L= L.25, Lor L25%
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