Basic Statistics in - (Download Link at the end of this Chapter) Chap...

Basic Statistics in Business and Economics, 10e Douglas Lind, William Marchal, Samuel Wathen (Solutions Manual All Chapter)

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Chapter 01 - What Is Statistics?1-1 Copyright © 2022 by McGraw-Hill Education.All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Chapter 1 What Is Statistics?

• Interval b. Ratio
• Nominal d. Nominal
• Ordinal f. Ratio (LO1-5)

• Ratio b. Nominal
• Ratio d. Ratio (LO1-5)

• Answer will vary. (LO1-5)

• Sample b. Population
• Population d. Sample (LO1-3)

• Qualitative data is not numerical, whereas quantitative data is numerical. Examples will vary

by student. (LO1-4)

• A population is the entire group which you are studying. A sample is a subset taken from a

population. (LO1-3)

• Discrete variables can assume only certain values, but continuous variables can assume any

values within some range. Examples will vary. (LO1-4)

• A population is used because the professor likely has grades readily available from

every student over the past 5 years.

• A population is employed because the information is easy to find.
• A population is used because the information is easy to find.
• A sample works because it is difficult to locate every musical. (LO1-3)

• Ordinal
• Ratio
• The newer system provided information on the distance between exits. (LO1-5)

• The cell phone provider is nominal level data. The minutes used are ratio level. Satisfaction is

ordinal level. (LO1-5)

• If you were using this store as typical of all Barnes & Noble stores then it would be sample

data. However, if you were considering it as the only store of interest, then the data would be population data. (LO1-3)

• In a presidential election all votes are counted, thus it is similar to a census of the entire

population. However, an “exit” poll consists of only some voters and thus is more like a sample of the entire population. (LO1-3) 2 / 4

Chapter 01 - What Is Statistics?1-2 Copyright © 2022 by McGraw-Hill Education.All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

13.

Discrete Continuous Qualitative

• Gender
• Soft drink preference
• Student rank in class
• Rating of a finance professor

Quantitative

• Sales volume of MP3 players
• SAT scores
• Number of home computers
• Salary
• Temperature

Discrete Continuous Nominal b. Gender Ordinal

• Soft drink preference
• Student rank in class
• Rating of a finance professor

Interval f. SAT scores e. Temperature Ratio

• Sales volume of MP3 players
• Number of home computers
• Salary

(LO1-4 and LO1-5)

• Answers will vary. (LO1-5)

• As a result of these sample findings, we can conclude that 120/300 or 40% of the white-collar

workers would transfer outside the U.S. (LO1-3)

• The obvious majority of consumers (400/500, or 80%) believe the policy is fair. On the

strength of these findings, we can anticipate a similar proportion of all customers to feel the same. (LO1-3)

• a 3 / 4

Chapter 01 - What Is Statistics?1-3 Copyright © 2022 by McGraw-Hill Education.All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

• Percentage differences with top five and bottom five.

• (LO1-2)
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