SOLUTIONS MANUA k
L
ESSENTIALS OF MODERN BUSINESS STATISTICS WITH
k k k k k
MICROSOFT EXCEL
k k
,Chapter 1 k
Data and Statistics
k k
LearningkObjectives
1. Obtainkankappreciationkforkthekbreadthkofkstatisticalkapplicationskinkbusinesskandkeconomics.
2. Understandkthekmeaningkofkthektermskelements,kvariables,kandkobservationskasktheykarekusedk
inkstatistics.
3. Obtainkankunderstandingkofkthekdifferencekbetweenkcategorical,kquantitative,kcrossectionalk
andktimekserieskdata.
4. Learnkaboutktheksourceskofkdatakforkstatisticalkanalysiskbothkinternalkandkexternalktokthekfirm.
5. Bekawarekofkhowkerrorskcankarisekinkdata.
6. Knowkthekmeaningkofkdescriptivekstatisticskandkstatisticalkinference.
7. Bekablektokdistinguishkbetweenkakpopulationkandkaksample.
8. Understandkthekrolekaksamplekplayskinkmakingkstatisticalkinferenceskaboutkthekpopulation.
,9. Knowkthekmeaningkofkthektermkdatakmining.
10. Bekawarekofkethicalkguidelineskforkstatisticalkpractice.
Solutions:
1. Statisticskcankbekreferredktokasknumericalkfacts.kInkakbroaderksense,kstatisticskiskthekfieldkofk
studykdealingkwithkthekcollection,kanalysis,kpresentationkandkinterpretationkofkdata.
2. a. Thektenkelementskarekthektenktabletkcomputers
b. 5kvariables:k Costk($),kOperatingkSystem,kDisplaykSizek(inches),kBatterykLifek(hours),
CPUkManufacturer
c. Categoricalkvariables:k OperatingkSystemkandkCPUkManufacturer
Quantitativekvariables:k Costk($),kDisplaykSizek(inches),kandkBatterykLifek(hours)
d.
Variable
Mea
surement
kScale
Costk($) Ratio
OperatingkSystem Nominal
DisplaykSize Ratio
k(inches)
BatterykLifek(hours) Ratio
CPUkManufacturer Nominal
3. a. Averagekcostk=k5829/10k=k$582.90
, b. AveragekcostkwithkakWindowskoperatingksystemk=k3616/5k=k$723.20
L
ESSENTIALS OF MODERN BUSINESS STATISTICS WITH
k k k k k
MICROSOFT EXCEL
k k
,Chapter 1 k
Data and Statistics
k k
LearningkObjectives
1. Obtainkankappreciationkforkthekbreadthkofkstatisticalkapplicationskinkbusinesskandkeconomics.
2. Understandkthekmeaningkofkthektermskelements,kvariables,kandkobservationskasktheykarekusedk
inkstatistics.
3. Obtainkankunderstandingkofkthekdifferencekbetweenkcategorical,kquantitative,kcrossectionalk
andktimekserieskdata.
4. Learnkaboutktheksourceskofkdatakforkstatisticalkanalysiskbothkinternalkandkexternalktokthekfirm.
5. Bekawarekofkhowkerrorskcankarisekinkdata.
6. Knowkthekmeaningkofkdescriptivekstatisticskandkstatisticalkinference.
7. Bekablektokdistinguishkbetweenkakpopulationkandkaksample.
8. Understandkthekrolekaksamplekplayskinkmakingkstatisticalkinferenceskaboutkthekpopulation.
,9. Knowkthekmeaningkofkthektermkdatakmining.
10. Bekawarekofkethicalkguidelineskforkstatisticalkpractice.
Solutions:
1. Statisticskcankbekreferredktokasknumericalkfacts.kInkakbroaderksense,kstatisticskiskthekfieldkofk
studykdealingkwithkthekcollection,kanalysis,kpresentationkandkinterpretationkofkdata.
2. a. Thektenkelementskarekthektenktabletkcomputers
b. 5kvariables:k Costk($),kOperatingkSystem,kDisplaykSizek(inches),kBatterykLifek(hours),
CPUkManufacturer
c. Categoricalkvariables:k OperatingkSystemkandkCPUkManufacturer
Quantitativekvariables:k Costk($),kDisplaykSizek(inches),kandkBatterykLifek(hours)
d.
Variable
Mea
surement
kScale
Costk($) Ratio
OperatingkSystem Nominal
DisplaykSize Ratio
k(inches)
BatterykLifek(hours) Ratio
CPUkManufacturer Nominal
3. a. Averagekcostk=k5829/10k=k$582.90
, b. AveragekcostkwithkakWindowskoperatingksystemk=k3616/5k=k$723.20
