Statistics-for-business-and-economics-11th-edition-anderson-solutions-manual-190413050247 PDF

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Statistics for Business and Economics 11th Edition Anderson Solutions Manual Full Download: http://alibabadownload.com/product/statistics-for-business-and-economics-11th-edition-anderson-solutions-ma

Chapter 2 Descriptive Statistics: Tabular and Graphical Presentations Learning Objectives 1.

Learn how to construct and interpret summarization procedures for qualitative data such as: frequency and relative frequency distributions, bar graphs and pie charts.

2.

Learn how to construct and interpret tabular summarization procedures for quantitative data such as: frequency and relative frequency distributions, cumulative frequency and cumulative relative frequency distributions.

3.

Learn how to construct a dot plot, a histogram, and an ogive as graphical summaries of quantitative data.

4.

Learn how the shape of a data distribution is revealed by a histogram. Learn how to recognize when a data distribution is negatively skewed, symmetric, and positively skewed.

5.

Be able to use and interpret the exploratory data analysis technique of a stem-and-leaf display.

6.

Learn how to construct and interpret cross tabulations and scatter diagrams of bivariate data.

2-1 © 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

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Chapter 2

Solutions: 1. Class A B C

2.

a.

1 - (.22 + .18 + .40) = .20

b.

.20(200) = 40

Frequency 60 24 36 120

Relative Frequency 60/120 = 0.50 24/120 = 0.20 36/120 = 0.30 1.00

c/d. Class A B C D Total

3.

a.

360° x 58/120 = 174°

b.

360° x 42/120 = 126°

Frequency .22(200) = 44 .18(200) = 36 .40(200) = 80 .20(200) = 40 200

Percent Frequency 22 18 40 20 100

c.

No 35.0% Yes 48.3%

No Opinion 16.7%

2-2 © 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Descriptive Statistics: Tabular and Graphical Presentations

d. 70

Frequency

60 50 40 30 20 10 0 Yes

No

No Opinion

Response

a.

Categorical

b. TV Show Law & Order CSI Without a Trace Desperate Housewives Total:

Frequency

4.

Frequency 10 18 9 13 50

Percent Frequency 20% 36% 18% 26% 100%

20 18 16 14 12 10 8 6 4 2 0 L&O

CSI

Trace

Housewives

TV Show

2-3 © 2010 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 2

L&O 20%

Housewives 26%

Trace 18%

CSI 36%

d. CSI had the largest viewing audience. Desperate Housewives was in second place. a. Name Brown Davis Johnson Jones Smith Williams

Frequency 7 6 10 7 12 8 50

Relative Frequency .14 .12 .20 .14 .24 .16 1.00

Percent Frequency 14% 12% 20% 14% 24% 16%

b. 14 12 10

Frequency

5.

8 6 4 2 0 Brown

Davis

Johnson

Jones

Smith

Williams

Name

c.

Brown Davis Johnson Jones Smith Williams

.14 x 360 = 50.4  .12 x 360 = 43.2  .20 x 360 = 72.0  .14 x 360 = 50.4 .24 x 360 = 86.4  .16 x 360 = 57.6 

2-4 © 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Descriptive Statistics: Tabular and Graphical Presentations

Williams 16%

Smith 24%

Brown 14% Jones 14% Johnson 20%

d.

Most common: Smith, Johnson and Williams

a. Network ABC CBS FOX NBC Total

Frequency 15 17 1 17 50

Percent Frequency 30% 34% 2% 34% 100%

18 16 14 Frequency

6.

Davis 12%

12 10 8 6 4 2 0 ABC

CBS

FOX

NBC

Network

b.

CBS and NBC are tied, each with 17 of the top rated television shows. ABC is a close third with 15. The fact that the three networks are so close is surprising. FOX, the newest television network, does not have the history to compete with the other three networks in term of the top rated shows in television history.

2-5 © 2010 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 2

7. Rating Outstanding Very Good Good Average Poor

Frequency 19 13 10 6 2 50

Relative Frequency 0.38 0.26 0.20 0.12 0.04 1.00

Management should be pleased with these results. 64% of the ratings are very good to outstanding. 84% of the ratings are good or better. Comparing these ratings with previous results will show whether or not the restaurant is making improvements in its ratings of food quality. 8.

a. Position Pitcher Catcher 1st Base 2nd Base 3rd Base Shortstop Left Field Center Field Right Field

9.

Frequency 17 4 5 4 2 5 6 5 7 55

Relative Frequency 0.309 0.073 0.091 0.073 0.036 0.091 0.109 0.091 0.127 1.000

b.

Pitchers (Almost 31%)

c.

3rd Base (3 - 4%)

d.

Right Field (Almost 13%)

e.

Infielders (16 or 29.1%) to Outfielders (18 or 32.7%)

a.

Living Area City Suburb Small Town Rural Area Total

Live Now 32% 26% 26% 16% 100%

Ideal Community 24% 25% 30% 21% 100%

2-6 © 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Descriptive Statistics: Tabular and Graphical Presentations

b.

Where do you live now?

What do you consider the ideal community?

c.

Most adults are now living in a city (32%).

d.

Most adults consider the ideal community a small town (30%).

e.

Percent changes by living area: City -8%, Suburb -1%, Small Town +4%, and Rural Area +5%. Suburb living is steady, but the trend would be that living in the city would decline while living in small towns and rural areas would increase.

10. a. Rating Excellent

Frequency 20

Good

101

Fair

528

Bad

244

Terrible

122

Total

1015

2-7 © 2010 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 2

b. Percent Frequency

Rating Excellent

2

Good

10

Fair

52

Bad

24

Terrible

12

Total

100

c.

d.

24% + 12% = 36% of adults in the United Sates think the Federal Bank is doing a bad or a terrible job in handling the credit problems. Only 10% + 2% = 12% think the Federal Bank is doing a good or excellent job.

e.

40% + 10% = 50% of adults in Spain think the European Central Bank is doing a bad or terrible job in handling the credit problems. Only 4% of adults in Spain think the European Central Bank is doing a good or excellent job. Both countries show pessimism and relatively low confidence in how the banks are handling the credit problems in the financial markets. But in comparing the two countries, adults in Spain show more concern and more pessimism about the bank’s ability compared to adults in the United States.

11. Class 12-14 15-17 18-20 21-23 24-26 Total

Frequency 2 8 11 10 9 40

Relative Frequency 0.050 0.200 0.275 0.250 0.225 1.000

Percent Frequency 5.0 20.0 27.5 25.0 22.5 100.0

2-8 © 2010 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Descriptive Statistics: Tabular and Graphical Presentations

12. Class less than or equal to 19 less than or equal to 29 less than or equal to 39 less than or equal to 49 less than or equal to 59

Cumulative Frequency 10 24 41 48 50

Cumulative Relative Frequency .20 .48 .82 .96 1.00

13. 18 16 14

Frequency

12 10 8 6 4 2 0 10-19

20-29

30-39

40-49

50-59

1.0

.8

.6

.4

.2

0

10

20

30

40

50

60

14. a.

2-9 © 2010 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 2

b/c. Class 6.0 - 7.9 8.0 - 9.9 10.0 - 11.9 12.0 - 13.9 14.0 - 15.9

Frequency 4 2 8 3 3 20

Percent Frequency 20 10 40 15 15 100

15. a/b. Waiting Time 0-4 5-9 10 - 14 15 - 19 20 - 24 Totals

Frequency 4 8 5 2 1 20

Relative Frequency 0.20 0.40 0.25 0.10 0.05 1.00

c/d. Waiting Time Less than or equal to 4 Less than or equal to 9 Less than or equal to 14 Less than or equal to 19 Less than or equal to 24 e.

Cumulative Frequency 4 12 17 19 20

Cumulative Relative Frequency 0.20 0.60 0.85 0.95 1.00

12/20 = 0.60

16. a. Salary 150-159 160-169 170-179 180-189 190-199 200-209 210-219 Total

Frequency 1 3 7 5 1 2 1 20

Salary 150-159 160-169 170-179 180-189 190-199 200-209 210-219 Total

Percent Frequency 5 15 35 25 5 10 5 100

b.

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Descriptive Statistics: Tabular and Graphical Presentations

c. Salary Less than or equal to 159

Cumulative Percent Frequency 5

Less than or equal to 169

20

Less than or equal to 179

55

Less than or equal to 189

80

Less than or equal to 199

85

Less than or equal to 209

95

Less than or equal to 219

100

Total

100

d.

e.

There is skewness to the right.

f.

(3/20)(100) = 15%

17. a.

b.

The highest price stock is for IBM with a price of $107 per share. The lowest price stock is for Alcoa with a price of $11 per share. A class size of 10 results in 10 classes. Price per Share $10-19 $20-29 $30-39 $40-49 $50-59 $60-69 $70-79 $80-89 $90-99 $100-109

Frequency 5 10 3 2 6 2 1 0 0 1

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Chapter 2

c.

The general shape of the distribution is skewed to the right. Half of the companies (15) have a price per share less than $30. A mid-priced stock appears to be in the $30 to $49 range, while the most frequently priced stock is in the $20 to $29 range. Five stocks are less than $20 per share (Alcoa, Bank of America, General Electric, Intel and Pfizer). Four stocks are $60 or more per share (3M, Chevron, ExxonMobil and IBM). d. 18. a.

A variety of comparisons are possible depending upon when the study is done. The lowest holiday spending is $180; the highest $2050.

b. Spending 0-249 250-499 500-749 750-999 1000-1249 1250-1499 1500-1759 1750-1999 2000-2249 Total

Frequency 3 6 5 5 3 1 0 1 1 25

Percent 12 24 20 20 12 4 0 4 4 100

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Descriptive Statistics: Tabular and Graphical Presentations

c.

The distribution shows a positive skewness. 7

Frequency

6 5 4 3 2 1 0 0-249

250-499

500-749

750-999

10001249

12501499

15001759

17501999

20002249

Holiday Spending

d. The holiday spending ranges from $0 to less than $2250. The majority of the spending is between $250 and $1000 with 16 of the 25 customers, 64%, in this range. The middle or average spending is around $750 per customer. The distribution has a positive skewness with two consumers above $1750. O ne consumer is above $2000. 19. a/b/c/d. Class (Minutes) 1-5 6-10 11-15 16-20 21-25 26-30 31-34

Frequency 12 3 2 1 1 0 1

Relative Frequency .60 .15 .10 .05 .05 .00 .05

Cumulative Frequency 12 15 17 18 19 19 20

Cumulative Relative Frequency .60 .75 .85 .90 .95 .95 1.00

e. 1

0.8 0.6 0.4

0.2 0 0

5

10

15

20

25

30

35

Time

f.

60% of office workers spend 5 minutes or less on unsolicited email and spam. However, 25% of office workers spend more than 10 minutes per day on this task. 2 - 13 © 2010 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 2

20. a. Off-Course Income ($1000s) 0-4,999 5,000-9,999 10,000-14,999 15,000-19,999 20,000-24,999 25,000-29,999 30,000-34,999 35000-39,999 40,000-44,999 45,000-49,999 Over 50,000 Total b.

Frequency 30 9 4 0 3 2 0 0 1 0 1 50

Percent Frequency 60 18 8 0 6 4 0 0 2 0 2 100

Histogram of Off-Course Income

Note: The first class is labeled 5000 and provides the golfers who had an off-course income in the range 0 to 4999 or less than 5000. These were the golfers with less than $5 million in off-course income. c.

Off-course income is skewed to the right. Only Tiger Woods earns over $50 million.

d.

Considering the top 50 golfers, the majority (60%) earn less than $5 million in off-course income per year. 60% + 18% = 78% earn less than $10 million. Five golfers (10%) earn between $20 million and $30 million. Tiger Woods with $99.8 million and Phil Mickelson with $40.2 million in offcourse income are clearly the leaders in this income category.

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Descriptive Statistics: Tabular and Graphical Presentations

21. a/b. Computer Usage (Hours) 0.0 2.9 3.0 5.9 6.0 8.9 9.0 - 11.9 12.0 - 14.9 Total

Frequency 5 28 8 6 3 50

Relative Frequency 0.10 0.56 0.16 0.12 0.06 1.00

c. 30

Frequency

25 20 15 10 5 0 0-2.9

3-5.9

6-8.9

9-11.9

12-14.9

Computer Usage (Hours)

d.

e.

The majority of the computer users are in the 3 to 6 hour range. Usage is somewhat skewed toward the right with 3 users in the 12 to 14.9 hour range.

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Chapter 2

22.

23.

24.

5

7 8

6

4 5 8

7

0 2 2 5 5 6 8

8

0 2 3 5

Leaf Unit = .1 6

3

7

5 5 7

8

1 3 4 8

9

3 6

10

0 4 5

11

3

Leaf Unit = 10 11

6

12

0 2

13

0 6 7

14

2 2 7

15

5

16

0 2 8

17

0 2 3

9

8 9

10

2 4 6 6

11

4 5 7 8 8 9

12

2 4 5 7

13

1 2

14

4

15

1

25.

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Descriptive Statistics: Tabular and Graphical Presentations

26. a.

100 shares at $50 per share 1

0 3 7 7

2

4 5 5

3

0 0 5 5 9

4

0 0 0 5 5 8

5

0 0 0 4 5 5

This stem-and-leaf display shows that the trading prices are closely grouped together. Rotating the stem-and-leaf display counter clockwise shows a histogram that is slightly skewed to the left but is roughly symmetric. b.

500 shares traded online at $50 per share. 0

5 7

1

0 1 1 3 4

1

5 5 5 8

2

0 0 0 0 0 0

2

5 5

3

0 0 0

3

6

4 4 5 5 6

3

This stretched stem-and-leaf display shows that the distribution of online trading prices for most of the brokers for 500 shares are lower than the trading prices for broker assisted trades of 100 shares. There are a couple of outliers. York Securities charges $36 for an online trade and Investors National charges much more than the other brokers: $62.50 for an online trade. 27. a. 7

5 9

8

3 6

9

5 6 8

10

0 4 4

11

1 5

12 13

7

14

5 5 2 - 17

© 2010 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 2

b. Observations such as the following can be made using the stem-and-leaf display.  The daily rate varies from $75 to $145  Typical mid-priced daily rates are $95 to $115 with the average daily rate around $100.  A daily rate in excess of $115 should be considered relatively high. High daily rates of $137 and $145 were found at three ski resorts. 28. a. 2

1 4

2

6 7

3

0 1 1 1 2 3

3

5 6 7 7

4

0 0 3 3 3 3 3 4 4

4

6 6 7 9

5

0 0 0 2 2

5

5 6 7 9

6

1 4