TEST BANK V
JAMESVBALDONE
BirminghamVSouthernVCollege
BASIC BUSINESS STATISTICS :
V V V
CONCEPTS AND APPLICATIONS
V V
FOURTEENTH EDITION V
Mark L. Berenson
V V
MontclairVStateVUniversity
David M. Levine
V V
BaruchVCollege,VCityVUniversityVofVNewVYork
Kathryn A. Szabat V V
LaVSalleVUniversity
David F. Stephan
V V
TwoVBridgesVInstructionalVTechnology
,TheVauthorVandVpublisherVofVthisVbookVhaveVusedVtheirVbestVeffortsVinVpreparingVthisVbook.VTheseVeffort
sVincludeVtheVdevelopment, Vresearch,VandVtestingVofVtheVtheoriesVandVprogramsVtoVdetermineVtheirVeffectiv
eness.VTheVauthorVandVpublisherVmakeVnoVwarrantyVofVanyVkind,VexpressedVorVimplied,VwithVregardVtoVt
heseVprogramsVorVtheVdocumentationVcontainedVinVthisVbook.VTheVauthorVandVpublisherVshallVnotVbeVliabl
eVinVanyVeventVforVincidentalVorVconsequentialVdamagesVinVconnectionVwith,VorVarisingVoutVof,VtheVfurnis
hing,Vperformance,VorVuseVofVtheseVprograms.
ReproducedVbyVPearsonVfromVelectronicVfilesVsuppliedVbyVtheVauthor.
VCopyrightV©V2019,V2015,V2010V PearsonVEducation,VInc.
PublishingVasVPearson,V330VHudsonVStreet,VNYVNYV10013
AllVrightsVreserved.VNoVpartVofVthisVpublicationVmayVbeVreproduced,VstoredVinVaVretrievalVsystem,VorVtran
smitted,VinVanyVformVorVbyVanyVmeans,Velectronic,Vmechanical,Vphotocopying, Vrecording, VorVotherwise,Vwi
thoutVtheVpriorVwrittenVpermissionVofVtheVpublisher.VPrintedVinVtheVUnitedVStatesVofVAmerica.
ISBN-13:V 978-0-13-468503-8
ISBN-10:V 0-13-468503-2
, TableVofVContents
Preface iv
GettingV Started:V ImportantV ThingsV toV LearnV First GS-1
ChapterV 1 DefiningV andV CollectingV Data 1-1
ChapterV 2 OrganizingV andV VisualizingV Variables 2-1
ChapterV 3 NumericalV DescriptiveV Measures 3-1
ChapterV 4 BasicV Probability 4-1
ChapterV 5 DiscreteV ProbabilityV Distributions 5-1
ChapterV 6 TheV NormalV DistributionV andV OtherV ContinuousV Distributions 6-1
ChapterV 7 SamplingV Distributions 7-1
ChapterV 8 ConfidenceV IntervalV Estimation 8-1
ChapterV 9 FundamentalsV ofV HypothesisV Testing:V One-SampleV Tests 9-1
ChapterV 10 Two-SampleV Tests 10-1
ChapterV 11 AnalysisV ofV Variance 11-1
ChapterV 12 Chi-SquareV TestsV andV NonparametricV Tests 12-1
ChapterV 13 SimpleV LinearV Regression 13-1
ChapterV 14 IntroductionV toV MultipleV Regression 14-1
ChapterV 15 MultipleV RegressionV ModelV Building 15-1
ChapterV 16 Time-SeriesV Forecasting 16-1
ChapterV 17 BusinessV Analytics 17-1
ChapterV 18 AV RoadmapV forV AnalyzingV Data 18-1
OnlineVCh StatisticalV ApplicationsV inV QualityV Management 19-1
apterV19
OnlineVCh DecisionV Making 20-1
apterV20
OnlineV Topics OLT-1
iii
CopyrightV©2019VPearsonVEducation,VI
nc.
, Preface
TheV TestV BankV containsV aV varietyV ofV multiple-choice,V true-false,V problemV andV fill-
inV questionsV basedV onV theVdefinitions,V concepts,V andV ideasV developedV inV eachV chapter.V InV additi
on,V numericalV problemsV andVMicrosoft®V ExcelV computerV outputV problemsV areV alsoV givenV withV so
lutionsV providedV inV multiple-choice,Vtrue-false,VproblemVandVfill-inVformat.
TheV TestV BankV isV intendedV toV assistV instructorsV inV preparingV examinations.V TheV questionsV include
dV hereinVhighlightV theV keyV topicsV coveredV throughoutV eachV chapter.V TheV keywordsV afterV eachV qu
estion,V andV theVKeywordsV toV SubsectionsV Cross-referenceV andV SubsectionsV toV KeywordsV Cross-
referenceV areV intendedV toVhelpV instructorsV easilyV locateV questionsV onV aV specificV topicV orV concept.
V ExplanationV isV providedV whenV theVrationaleV ofV theV correctV answerV toV aV difficultV questionV isV rath
erV obscure.V TheV formatV forV theV TestV BankV willVfacilitateV gradingV andV shouldV beV helpfulV toV instr
uctorsV whoV teachV veryV largeV sections.
TheV intendedV difficultyV levelV (easy,V moderate,V difficult)V ofV eachV questionV inV theV TestV BankV isV st
atedV inVorderV toV facilitateV testV itemV selectionV byV instructorsV wishingV toV createV specificV typesV ofV
exams.V However,VsomeV wordsV ofV cautionV mustV beV given.V TheV classificationV ofV questionV difficult
yV levelV isV veryV subjectiveVandV eachV questionV shouldV beV evaluatedV basedV onV theV emphasisV theV pa
rticularV topicV wasV givenV inV classV andVhowV muchV emphasisV isV toV beV givenV toV numericalV resultsV
obtainedV byV calculatorV ratherV thanV computerizedVresultsV obtainedV fromV Microsoft®V Excel.V AsV anV o
perationalV definitionV thatV isV usedV here,V itemsV areV classifiedVasV easyV ifV theyV pertainV directlyV toV de
finitionsV andV fundamentalV concepts.V TestV itemsV areV classifiedV asVmoderateV ifV theyV requireV someV n
umericalV calculationsV withV moreV thanV aV minimalV numberV ofV stepsV orV ifV theyVrequireV aV broaderV un
derstandingV ofV theV topic.V TestV itemsV thatV areV classifiedV asV difficultV areV doneV soV becauseVofV theV l
evelV ofV rigorV ofV theV subject,V theV lengthV ofV theV narrative,V theV amountV ofV effortV requiredV forV solut
ion,VorVforVresponsesVthatVrequireV moreV thoughtVandV analysis.
InstructorsV areV alsoV advisedV thatV allV answersV inV theV TestV BankV areV computedV usingV Microsoft®V
ExcelV orVPHStatV withV noV roundingV involvedV inV theV intermediateV steps.V IfV studentsV useV roundingV
withV formulaeV andV aVcalculator,V theirV answersV mightV beV differentV fromV thoseV providedV inV theV ans
werV keys.V Likewise,V ifV studentsVuseV theV statisticalV tablesV atV theV endV ofV theV bookV insteadV ofV Micr
osoft®V ExcelV orV PHStat,V theirV answersV mightValsoV differV fromV thoseV providedV inV theV answerV keys
V dueV toV rounding.V WheneverV possible,V weV provideVanswersV obtainedV usingV bothV Microsoft®V Exce
l/PHStatV andV theV statisticalV tablesV ifV theyV areV veryV different.
ThisV TestV BankV andV othersV thatV areV similarV sufferV fromV oneV majorV weakness.V TheyV doV notV per
mitV anVevaluationV ofV theV students’V writtenV communicationV skill.V TheV authorsV highlyV recommendV t
hat,V ifV possible,VinstructorsV whoV useV thisV TestV BankV supplementV itV withV atV leastV oneV shortV essay
V typeV questionV soV thatV anVassessmentV canV beV madeV ofV theV students’V understandingV ofV conceptsV a
sV wellV asV howV theyV canV makeVconnectionsVacrossVvariousVtopics.
TheV followingV tabularV displayV isV aV breakdownV ofV theV numberV ofV questionsV inV eachV chapterV byV type.
iv
CopyrightV©2019VPearsonVEducation,VI
nc.
JAMESVBALDONE
BirminghamVSouthernVCollege
BASIC BUSINESS STATISTICS :
V V V
CONCEPTS AND APPLICATIONS
V V
FOURTEENTH EDITION V
Mark L. Berenson
V V
MontclairVStateVUniversity
David M. Levine
V V
BaruchVCollege,VCityVUniversityVofVNewVYork
Kathryn A. Szabat V V
LaVSalleVUniversity
David F. Stephan
V V
TwoVBridgesVInstructionalVTechnology
,TheVauthorVandVpublisherVofVthisVbookVhaveVusedVtheirVbestVeffortsVinVpreparingVthisVbook.VTheseVeffort
sVincludeVtheVdevelopment, Vresearch,VandVtestingVofVtheVtheoriesVandVprogramsVtoVdetermineVtheirVeffectiv
eness.VTheVauthorVandVpublisherVmakeVnoVwarrantyVofVanyVkind,VexpressedVorVimplied,VwithVregardVtoVt
heseVprogramsVorVtheVdocumentationVcontainedVinVthisVbook.VTheVauthorVandVpublisherVshallVnotVbeVliabl
eVinVanyVeventVforVincidentalVorVconsequentialVdamagesVinVconnectionVwith,VorVarisingVoutVof,VtheVfurnis
hing,Vperformance,VorVuseVofVtheseVprograms.
ReproducedVbyVPearsonVfromVelectronicVfilesVsuppliedVbyVtheVauthor.
VCopyrightV©V2019,V2015,V2010V PearsonVEducation,VInc.
PublishingVasVPearson,V330VHudsonVStreet,VNYVNYV10013
AllVrightsVreserved.VNoVpartVofVthisVpublicationVmayVbeVreproduced,VstoredVinVaVretrievalVsystem,VorVtran
smitted,VinVanyVformVorVbyVanyVmeans,Velectronic,Vmechanical,Vphotocopying, Vrecording, VorVotherwise,Vwi
thoutVtheVpriorVwrittenVpermissionVofVtheVpublisher.VPrintedVinVtheVUnitedVStatesVofVAmerica.
ISBN-13:V 978-0-13-468503-8
ISBN-10:V 0-13-468503-2
, TableVofVContents
Preface iv
GettingV Started:V ImportantV ThingsV toV LearnV First GS-1
ChapterV 1 DefiningV andV CollectingV Data 1-1
ChapterV 2 OrganizingV andV VisualizingV Variables 2-1
ChapterV 3 NumericalV DescriptiveV Measures 3-1
ChapterV 4 BasicV Probability 4-1
ChapterV 5 DiscreteV ProbabilityV Distributions 5-1
ChapterV 6 TheV NormalV DistributionV andV OtherV ContinuousV Distributions 6-1
ChapterV 7 SamplingV Distributions 7-1
ChapterV 8 ConfidenceV IntervalV Estimation 8-1
ChapterV 9 FundamentalsV ofV HypothesisV Testing:V One-SampleV Tests 9-1
ChapterV 10 Two-SampleV Tests 10-1
ChapterV 11 AnalysisV ofV Variance 11-1
ChapterV 12 Chi-SquareV TestsV andV NonparametricV Tests 12-1
ChapterV 13 SimpleV LinearV Regression 13-1
ChapterV 14 IntroductionV toV MultipleV Regression 14-1
ChapterV 15 MultipleV RegressionV ModelV Building 15-1
ChapterV 16 Time-SeriesV Forecasting 16-1
ChapterV 17 BusinessV Analytics 17-1
ChapterV 18 AV RoadmapV forV AnalyzingV Data 18-1
OnlineVCh StatisticalV ApplicationsV inV QualityV Management 19-1
apterV19
OnlineVCh DecisionV Making 20-1
apterV20
OnlineV Topics OLT-1
iii
CopyrightV©2019VPearsonVEducation,VI
nc.
, Preface
TheV TestV BankV containsV aV varietyV ofV multiple-choice,V true-false,V problemV andV fill-
inV questionsV basedV onV theVdefinitions,V concepts,V andV ideasV developedV inV eachV chapter.V InV additi
on,V numericalV problemsV andVMicrosoft®V ExcelV computerV outputV problemsV areV alsoV givenV withV so
lutionsV providedV inV multiple-choice,Vtrue-false,VproblemVandVfill-inVformat.
TheV TestV BankV isV intendedV toV assistV instructorsV inV preparingV examinations.V TheV questionsV include
dV hereinVhighlightV theV keyV topicsV coveredV throughoutV eachV chapter.V TheV keywordsV afterV eachV qu
estion,V andV theVKeywordsV toV SubsectionsV Cross-referenceV andV SubsectionsV toV KeywordsV Cross-
referenceV areV intendedV toVhelpV instructorsV easilyV locateV questionsV onV aV specificV topicV orV concept.
V ExplanationV isV providedV whenV theVrationaleV ofV theV correctV answerV toV aV difficultV questionV isV rath
erV obscure.V TheV formatV forV theV TestV BankV willVfacilitateV gradingV andV shouldV beV helpfulV toV instr
uctorsV whoV teachV veryV largeV sections.
TheV intendedV difficultyV levelV (easy,V moderate,V difficult)V ofV eachV questionV inV theV TestV BankV isV st
atedV inVorderV toV facilitateV testV itemV selectionV byV instructorsV wishingV toV createV specificV typesV ofV
exams.V However,VsomeV wordsV ofV cautionV mustV beV given.V TheV classificationV ofV questionV difficult
yV levelV isV veryV subjectiveVandV eachV questionV shouldV beV evaluatedV basedV onV theV emphasisV theV pa
rticularV topicV wasV givenV inV classV andVhowV muchV emphasisV isV toV beV givenV toV numericalV resultsV
obtainedV byV calculatorV ratherV thanV computerizedVresultsV obtainedV fromV Microsoft®V Excel.V AsV anV o
perationalV definitionV thatV isV usedV here,V itemsV areV classifiedVasV easyV ifV theyV pertainV directlyV toV de
finitionsV andV fundamentalV concepts.V TestV itemsV areV classifiedV asVmoderateV ifV theyV requireV someV n
umericalV calculationsV withV moreV thanV aV minimalV numberV ofV stepsV orV ifV theyVrequireV aV broaderV un
derstandingV ofV theV topic.V TestV itemsV thatV areV classifiedV asV difficultV areV doneV soV becauseVofV theV l
evelV ofV rigorV ofV theV subject,V theV lengthV ofV theV narrative,V theV amountV ofV effortV requiredV forV solut
ion,VorVforVresponsesVthatVrequireV moreV thoughtVandV analysis.
InstructorsV areV alsoV advisedV thatV allV answersV inV theV TestV BankV areV computedV usingV Microsoft®V
ExcelV orVPHStatV withV noV roundingV involvedV inV theV intermediateV steps.V IfV studentsV useV roundingV
withV formulaeV andV aVcalculator,V theirV answersV mightV beV differentV fromV thoseV providedV inV theV ans
werV keys.V Likewise,V ifV studentsVuseV theV statisticalV tablesV atV theV endV ofV theV bookV insteadV ofV Micr
osoft®V ExcelV orV PHStat,V theirV answersV mightValsoV differV fromV thoseV providedV inV theV answerV keys
V dueV toV rounding.V WheneverV possible,V weV provideVanswersV obtainedV usingV bothV Microsoft®V Exce
l/PHStatV andV theV statisticalV tablesV ifV theyV areV veryV different.
ThisV TestV BankV andV othersV thatV areV similarV sufferV fromV oneV majorV weakness.V TheyV doV notV per
mitV anVevaluationV ofV theV students’V writtenV communicationV skill.V TheV authorsV highlyV recommendV t
hat,V ifV possible,VinstructorsV whoV useV thisV TestV BankV supplementV itV withV atV leastV oneV shortV essay
V typeV questionV soV thatV anVassessmentV canV beV madeV ofV theV students’V understandingV ofV conceptsV a
sV wellV asV howV theyV canV makeVconnectionsVacrossVvariousVtopics.
TheV followingV tabularV displayV isV aV breakdownV ofV theV numberV ofV questionsV inV eachV chapterV byV type.
iv
CopyrightV©2019VPearsonVEducation,VI
nc.
