Microsoft Excel, 7e - Anderson, Sweeney, Williams, Camm, Cochran, Fry...

Modern Business Statistics with Microsoft® Excel®, 7e Anderson, Sweeney, Williams, Camm, Cochran, Fry, Ohlmann

(Solutions Manual All Chapter)

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© 2021 Cengage Learning. All Rights Reserved.May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.Chapter 1 Data and Statistics

Learning Objectives

• Obtain an appreciation for the breadth of statistical applications in business and economics.

• Understand the meaning of the terms elements, variables, and observations as they are used in

statistics.

• Obtain an understanding of the difference between categorical, quantitative, cross-sectional, and

time series data.

• Learn about the sources of data for statistical analysis both internal and external to the firm.

• Be aware of how errors can arise in data.

• Know the meaning of descriptive statistics and statistical inference.

• Be able to distinguish between a population and a sample.

• Understand the role a sample plays in making statistical inferences about the population.

• Know the meaning of the terms analytics, big data and data mining.

• Be aware of ethical guidelines for statistical practice.

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Chapter 1

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© 2021 Cengage Learning. All Rights Reserved.May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Solutions:

• Statistics can be referred to as numerical facts. In a broader sense, statistics is the field of study

dealing with the collection, analysis, presentation, and interpretation of data.

• The ten elements are the ten tablet computers.

• Five variables: Cost ($), Operating System, Display Size (inches), Battery Life (hours), CPU

Manufacturer

c. Categorical variables: Operating System and CPU Manufacturer

Quantitative variables: Cost ($), Display Size (inches), and Battery Life (hours)

d.Variable Measurement Scale Cost ($) Ratio Operating System Nominal Display Size (inches) Ratio Battery Life (hours) Ratio CPU Manufacturer Nominal

• Average cost = 5829/10 = $582.90

• Average cost with a Windows operating system = 3616/5 = $723.20

Average cost with an Android operating system = 1714/4 = $428.5

The average cost with a Windows operating system is much higher.

• 2 of 10 or 20% use a CPU manufactured by TI OMAP.

• 4 of 10 or 40% use an Android operating system.

• There are eight elements in this data set; each element corresponds to one of the eight models of

cordless telephones.

b. Categorical variables: Voice Quality and Handset on Base

Quantitative variables: Price, Overall Score, and Talk Time

• Price – ratio measurement

Overall Score – interval measurement Voice Quality – ordinal measurement Handset on Base – nominal measurement Talk Time – ratio measurement

• Average Price = 545/8 = $68.13

• Average Talk Time = 71/8 = 8.875 hours

c. Percentage rated Excellent: 2 of 8 2/8 = .25, or 25%

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Data and Statistics

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© 2021 Cengage Learning. All Rights Reserved.May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

• Categorical

• Quantitative

• Categorical

• Quantitative

• Quantitative

• Since there are five choices, the response is a categorical response.

• The five responses are the labels for the customer responses. A nominal scale is being used.

• 762

• Categorical

• Percentages

• .67(762) = 510.54

510 or 511 respondents said they want the amendment to pass.

• The population is employed individuals in the United States aged 25–29.

• Have you earned a bachelor’s degree (or higher)?

• Since the response is yes or no, the response is categorical.

• a. Categorical

• Percentages

• 44 of 1080 respondents or approximately 4% strongly agree with allowing drivers of motor vehicles

to talk on a hand-held cell phone while driving.

• 165 of the 1080 respondents or 15% of said they somewhat disagree and 741 or 69% said they

strongly disagree. Thus, there does not appear to be general support for allowing drivers of motor vehicles to talk on a hand-held cell phone while driving.

• a. Since the respondents answer with some time interval, the response is categorical.

• .53(1503) = 796.59 or approximately 797

• .10(1503) = 150.3 or approximately 150

• a. The population is all visitors coming to the state of Hawaii.

• Since airline flights carry the vast majority of visitors to the state, the use of questionnaires for

passengers during incoming flights is a good way to reach this population. The questionnaire actually appears on the back of a mandatory plants and animals declaration form that passengers must complete during the incoming flight. A large percentage of passengers complete the visitor information questionnaire.

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