TEST BANK l
Essentials of Modern Business Statistics with Microsoft Excel
l l l l l l l
by David R. Anderson, Dennis J. Sweeney, Thomas A. Williams,
l l l l l l l l l
Jeffrey D. Camm
l l
8th Edition l
FULLTEST BANK
l l
,Chapter 1 l
Data and Statistics
l l
LearninglObjectives
1. Obtainlanlappreciationlforlthelbreadthloflstatisticallapplicationslinlbusinesslandleconomics.
2. Understandlthelmeaninglofltheltermslelements,lvariables,landlobservationslasltheylarelusedlinlstati
stics.
3. Obtainlanlunderstandinglofltheldifferencelbetweenlcategorical,lquantitative,lcross-
sectional,landltimelseriesldata.
4. Learnlaboutlthelsourceslofldatalforlstatisticallanalysislbothlinternallandlexternalltolthelfirm.
5. Belawareloflhowlerrorslcanlariselinldata.
6. Knowlthelmeaninglofldescriptivelstatisticslandlstatisticallinference.
7. Belableltoldistinguishlbetweenlalpopulationlandlalsample.
8. Understandlthelrolelalsamplelplayslinlmakinglstatisticallinferenceslaboutlthelpopulation.
9. Knowlthelmeaninglofltheltermslanalytics,lbigldatalandldatalmining.
10. Belawareloflethicallguidelineslforlstatisticallpractice.
,
, Solutions:
1. Statisticslcanlbelreferredltolaslnumericallfacts.lInlalbroaderlsense,lstatisticslislthelfieldloflstudyldeali
nglwithlthelcollection,lanalysis,lpresentation,landlinterpretationlofldata.
2. a. Theltenlelementslareltheltenltabletlcomputers.
b. Fivelvariables:lCostl($),lOperatinglSystem,lDisplaylSizel(inches),lBatterylLifel(hours),lCPUlMa
nufacturer
c. Categoricallvariables:lOperatinglSystemlandlCPUlManufacturer
Quantitativelvariables:lCostl($),lDisplaylSizel(inches),landlBatterylLifel(hours)
d. l
Variable Measurementl Scale
Costl($) Ratio
OperatinglSystem Nominal
DisplaylSizel(inches) Ratio
BatterylLifel(hours) Ratio
l CPUlManufacturer Nominal
3. a. Averagelcostl=l5829/10l=l$582.90
b. AveragelcostlwithlalWindowsloperatinglsysteml=l3616/5l=l$723.20lA
veragelcostlwithlanlAndroidloperatinglsysteml=l1714/4l=l$428.5lThela
veragelcostlwithlalWindowsloperatinglsystemlislmuchlhigher.
c. 2lofl10lorl20%luselalCPUlmanufacturedlbylTIlOMAP.
d. 4lofl10lorl40%luselanlAndroidloperatinglsystem.
4. a.
Therelareleightlelementslinlthisldatalset;leachlelementlcorrespondsltolonelofltheleightlmodelsl
oflcordlessltelephones.
b. Categoricallvariables:lVoicelQualitylandlHandsetlonlBaselQ
uantitativelvariables:lPrice,lOveralllScore,landlTalklTime
c. Pricel–lratiolmeasurement
OveralllScorel–
lintervall measurementlVoicelQualityl–
lordinallmeasurementlHandsetlonlBasel–
lnominallmeasurementlTalklTimel–
lratiolmeasurement
5. a. AveragelPricel=l545/8l=l$68.13
b. AveragelTalklTimel=l71/8l=l8.875lhours
c. PercentagelratedlExcellent:l 2lofl8 2/8l=l.25,lorl25%
4l-l2
Essentials of Modern Business Statistics with Microsoft Excel
l l l l l l l
by David R. Anderson, Dennis J. Sweeney, Thomas A. Williams,
l l l l l l l l l
Jeffrey D. Camm
l l
8th Edition l
FULLTEST BANK
l l
,Chapter 1 l
Data and Statistics
l l
LearninglObjectives
1. Obtainlanlappreciationlforlthelbreadthloflstatisticallapplicationslinlbusinesslandleconomics.
2. Understandlthelmeaninglofltheltermslelements,lvariables,landlobservationslasltheylarelusedlinlstati
stics.
3. Obtainlanlunderstandinglofltheldifferencelbetweenlcategorical,lquantitative,lcross-
sectional,landltimelseriesldata.
4. Learnlaboutlthelsourceslofldatalforlstatisticallanalysislbothlinternallandlexternalltolthelfirm.
5. Belawareloflhowlerrorslcanlariselinldata.
6. Knowlthelmeaninglofldescriptivelstatisticslandlstatisticallinference.
7. Belableltoldistinguishlbetweenlalpopulationlandlalsample.
8. Understandlthelrolelalsamplelplayslinlmakinglstatisticallinferenceslaboutlthelpopulation.
9. Knowlthelmeaninglofltheltermslanalytics,lbigldatalandldatalmining.
10. Belawareloflethicallguidelineslforlstatisticallpractice.
,
, Solutions:
1. Statisticslcanlbelreferredltolaslnumericallfacts.lInlalbroaderlsense,lstatisticslislthelfieldloflstudyldeali
nglwithlthelcollection,lanalysis,lpresentation,landlinterpretationlofldata.
2. a. Theltenlelementslareltheltenltabletlcomputers.
b. Fivelvariables:lCostl($),lOperatinglSystem,lDisplaylSizel(inches),lBatterylLifel(hours),lCPUlMa
nufacturer
c. Categoricallvariables:lOperatinglSystemlandlCPUlManufacturer
Quantitativelvariables:lCostl($),lDisplaylSizel(inches),landlBatterylLifel(hours)
d. l
Variable Measurementl Scale
Costl($) Ratio
OperatinglSystem Nominal
DisplaylSizel(inches) Ratio
BatterylLifel(hours) Ratio
l CPUlManufacturer Nominal
3. a. Averagelcostl=l5829/10l=l$582.90
b. AveragelcostlwithlalWindowsloperatinglsysteml=l3616/5l=l$723.20lA
veragelcostlwithlanlAndroidloperatinglsysteml=l1714/4l=l$428.5lThela
veragelcostlwithlalWindowsloperatinglsystemlislmuchlhigher.
c. 2lofl10lorl20%luselalCPUlmanufacturedlbylTIlOMAP.
d. 4lofl10lorl40%luselanlAndroidloperatinglsystem.
4. a.
Therelareleightlelementslinlthisldatalset;leachlelementlcorrespondsltolonelofltheleightlmodelsl
oflcordlessltelephones.
b. Categoricallvariables:lVoicelQualitylandlHandsetlonlBaselQ
uantitativelvariables:lPrice,lOveralllScore,landlTalklTime
c. Pricel–lratiolmeasurement
OveralllScorel–
lintervall measurementlVoicelQualityl–
lordinallmeasurementlHandsetlonlBasel–
lnominallmeasurementlTalklTimel–
lratiolmeasurement
5. a. AveragelPricel=l545/8l=l$68.13
b. AveragelTalklTimel=l71/8l=l8.875lhours
c. PercentagelratedlExcellent:l 2lofl8 2/8l=l.25,lorl25%
4l-l2
