The manager of Information Services at Wilkin

Chapter 4: Problem 36 Basic Statistics for Business and Economics 7

Problem 36E Refer to the Wage data, which report information on annual wages for a sample of 100 workers. Also included are variables relating to industry, years of education, and gender for each worker. a. Develop a stem-and-leaf chart for the variable annual wage. Are there any outliers? Write a brief summary of your findings. b. Develop a stem-and-leaf chart for the variable years of education. Are there any outliers? Write a brief summary of your findings. c. Draw a bar chart of the variable occupation. Write a brief report summarizing your findings.

Read more

Chapter 4: Problem 3 Basic Statistics for Business and Economics 7

Problem 3E Determine the median and the values corresponding to the first and third quartiles in the following data. 46 47 49 49 51 53 54 54 55 55 59

Read more

Chapter 4: Problem 2 Basic Statistics for Business and Economics 7

Problem 2E The following chart reports the number of cell phones sold at Radio Shack for the last 26 days. a. What are the maximum and the minimum number of cell phones sold in a day? ________________ b. What is a typical number of cell phones sold?

Read more

Chapter 4: Problem 4 Basic Statistics for Business and Economics 7

Problem 4E Determine the median and the values corresponding to the first and third quartiles in the following data. 5.24 6.02 6.67 7.30 7.59 7.99 8.03 8.35 8.81 9.45 9.61 10.37 10.39 11.86 12.22 12.71 13.07 13.59 13.89 15.42

Read more

Chapter 4: Problem 6 Basic Statistics for Business and Economics 7

Problem 6E Kevin Horn is the national sales manager for National Textbooks, Inc. He has a sales staff of 40 who visit college professors all over the United States. Each Saturday morning he requires his sales staff to send him a report. This report includes, among other things, the number of professors visited during the previous week. Listed below, ordered from smallest to largest, are the number of visits last week. 38 40 41 45 48 48 50 50 51 51 52 52 53 54 55 55 55 56 56 57 59 59 59 62 62 62 63 64 65 66 66 67 67 69 69 71 77 78 79 79 a. Determine the median number of calls. ________________ b. Determine the first and third quartiles. ________________ c. Determine the first decile and the ninth decile. ________________ d. Determine the 33rd percentile.

Read more

Chapter 4: Problem 1 Basic Statistics for Business and Economics 7

Problem 1E Consider the following chart. a. What is this chart called? ________________ b. How many observations are in the study? ________________ c. What are the maximum and the minimum values? ________________ d. Around what values do the observations tend to cluster?

Read more

Chapter 4: Problem 5 Basic Statistics for Business and Economics 7

Problem 5E The Thomas Supply Company, Inc., is a distributor of gas-powered generators. As with any business, the length of time customers take to pay their invoices is important. Listed below, arranged from smallest to largest, is the time, in days, for a sample of The Thomas Supply Company, Inc., invoices. 13 13 13 20 26 27 31 34 34 34 35 35 36 37 38 41 41 41 45 47 47 47 50 51 53 54 56 62 67 82 a. Determine the first and third quartiles. ________________ b. Determine the second decile and the eighth decile. ________________ c. Determine the 67th percentile.

Read more

Chapter 4: Problem 7 Basic Statistics for Business and Economics 7

Problem 7E The box plot below shows the amount spent for books and supplies per year by students at four-year public colleges. a. Estimate the median amount spent. ________________ b. Estimate the first and third quartiles for the amount spent. ________________ c. Estimate the interquartile range for the amount spent. ________________ d. Beyond what point is a value considered an outlier? ________________ e. Identify any outliers and estimate their value. ________________ f. Is the distribution symmetrical or positively or negatively skewed?

Read more

Chapter 4: Problem 8 Basic Statistics for Business and Economics 7

Problem 8E The box plot shows the undergraduate in-state charge per credit hour at four-year public colleges. a. Estimate the median. ________________ b. Estimate the first and third quartiles. ________________ c. Determine the interquartile range. ________________ d. Beyond what point is a value considered an outlier? ________________ e. Identify any outliers and estimate their value. ________________ f. Is the distribution symmetrical or positively or negatively skewed?

Read more

Chapter 4: Problem 9 Basic Statistics for Business and Economics 7

Problem 9E In a study of the gasoline mileage of model year 2007 automobiles, the mean miles per gallon was 27.5 and the median was 26.8. The smallest value in the study was 12.70 miles per gallon, and the largest was 50.20. The first and third quartiles were 17.95 and 35.45 miles per gallon, respectively. Develop a box plot and comment on the distribution. Is it a symmetric distribution?

Read more

Chapter 4: Problem 12 Basic Statistics for Business and Economics 7

Problem 12E Listed below are the salaries, in $000, for a sample of 15 chief financial officers in the electronics industry. $516.0 $548.0 $566.0 $534.0 $586.0 $529.0 546.0 523.0 538.0 523.0 551.0 552.0 486.0 558.0 574.0 a. Determine the mean, median, and the standard deviation. ________________ b. Determine the coefficient of skewness using Pearson’s method. ________________ c. Determine the coefficient of skewness using the software method.

Read more

Chapter 4: Problem 13 Basic Statistics for Business and Economics 7

a. Determine the mean, median, and the standard deviation. b. Determine the coefficient of skewness using Pearson’s method. c. Determine the coefficient of skewness using the software method. Listed below are the commissions earned ($000) last year by the sales representatives at Furniture Patch, Inc. $3.9 $ 5.7 $7.3 $10.6 $13.0 $13.6 $15.1 $15.8 $17.1 17.4 17.6 22.3 38.6 43.2 87.7

Read more

Chapter 4: Problem 14 Basic Statistics for Business and Economics 7

Problem 14E Listed below are the salaries for the New York Yankees for the year 2009. a. Determine the mean, median, and the standard deviation. ________________ b. Determine the coefficient of skewness using Pearson’s method. ________________ c. Determine the coefficient of skewness using the software method.

Read more

Chapter 4: Problem 11 Basic Statistics for Business and Economics 7

Problem 11E The following values are the starting salaries, in $000, for a sample of five accounting graduates who accepted positions in public accounting last year. 36.0 26.0 33.0 28.0 31.0 a. Determine the mean, median, and the standard deviation. ________________ b. Determine the coefficient of skewness using Pearson’s method. ________________ c. Determine the coefficient of skewness using the software method.

Read more

Chapter 4: Problem 15 Basic Statistics for Business and Economics 7

Problem 15E Develop a scatter diagram for the following sample data. How would you describe the relationship between the values? X-Value Y-Value X-Value Y-Value 10 6 11 6 8 2 10 5 9 6 7 2 11 5 7 3 13 7 11 7

Read more

Chapter 4: Problem 10 Basic Statistics for Business and Economics 7

Problem 10E A sample of 28 time shares in the Orlando, Florida, area revealed the following daily charges for a one-bedroom suite. For convenience the data are ordered from smallest to largest. Construct a box plot to represent the data. Comment on the distribution. Be sure to identify the first and third quartiles and the median. $116 $121 $157 $192 $207 $209 $209 229 232 236 236 239 243 246 260 264 276 281 283 289 296 307 309 312 317 324 341 353

Read more

Chapter 4: Problem 16 Basic Statistics for Business and Economics 7

Problem 16E Silver Springs Moving and Storage, Inc., is studying the relationship between the number of rooms in a move and the number of labor hours required for the move. As part of the analysis the CFO of Silver Springs developed the following scatter diagram. a. How many moves are in the sample? ________________ b. Does it appear that more labor hours are required as the number of rooms increases, or do labor hours decrease as the number of rooms increases?

Read more

Chapter 4: Problem 17 Basic Statistics for Business and Economics 7

Problem 17E The Director of Planning for Devine Dining, Inc., wishes to study the relationship between the gender of a guest and whether the guest orders dessert. To investigate the relationship the manager collected the following information on 200 recent customers. Gender Dessert Ordered Male Female Total Yes 32 15 47 No 68 85 153 Total 100 100 200 a. What is the level of measurement of the two variables? ________________ b. What is the above table called? ________________ c. Does the evidence in the table suggest men are more likely to order dessert than women? Explain why.

Read more

Chapter 4: Problem 19 Basic Statistics for Business and Economics 7

Problem 19E A sample of students attending Southeast Florida University is asked the number of social activities in which they participated last week. The chart below was prepared from the sample data. a. What is the name given to this chart? ________________ b. How many students were in the study? ________________ c. How many students reported attending no social activities?

Read more

Chapter 4: Problem 20 Basic Statistics for Business and Economics 7

Problem 20E Doctor's Care is a walk-in clinic, with locations in Georgetown, Monks Corners, and Aynor, at which patients may receive treatment for minor injuries, colds, and flu, as well as physical examinations. The following charts report the number of patients treated in each of the three locations last month. Describe the number of patients served at the three locations each day. What are the maximum and minimum numbers of patients served at each of the locations?

Read more

Chapter 4: Problem 18 Basic Statistics for Business and Economics 7

Problem 18E Ski Resorts of Vermont, Inc., is considering a merger with Gulf Shores, Inc., of Alabama. The board of directors surveyed 50 stockholders concerning their position on the merger. The results are reported below. Opinion Number of Shares Held Favor Oppose Undecided Total Under 200 8 6 2 16 200 up to 1,000 6 8 1 15 Over 1,000 6 12 1 19b Total 20 26 4 50 a. What level of measurement is used in this table? ________________ b. What is this table called? ________________ c. What group seems most strongly opposed to the merger?

Read more

Chapter 4: Problem 22 Basic Statistics for Business and Economics 7

Problem 22E A study is made by the recording industry in the United States of the number of music CDs owned by senior citizens and young adults. The information is reported below. Seniors 28 35 41 48 52 81 97 98 98 99 118 132 133 140 145 147 153 158 162 174 177 180 180 187 188 Young Adults 81 107 113 147 147 175 183 192 202 209 233 251 254 266 283 284 284 316 372 401 417 423 490 500 507 518 550 557 590 594 a. Find the median and the first and third quartiles for the number of CDs owned by senior citizens. Develop a box plot for the information. ________________ b. Find the median and the first and third quartiles for the number of CDs owned by young adults. Develop a box plot for the information. ________________ c. Compare the number of CDs owned by the two groups.

Read more

Chapter 4: Problem 23 Basic Statistics for Business and Economics 7

Problem 23E The corporate headquarters of Bank.com, a new Internet company that performs all banking transactions via the Internet, is located in downtown Philadelphia. The director of human resources is making a study of the time it takes employees to get to work. The city is planning to offer incentives to each downtown employer if they will encourage their employees to use public transportation. Below is a listing of the time to get to work this morning according to whether the employee used public transportation or drove a car. Public Transportation 23 25 25 30 31 31 32 33 35 36 37 42 Private 32 32 33 34 37 37 38 38 38 39 40 44 a. Find the median and the first and third quartiles for the time it took employees using public transportation. Develop a box plot for the information. ________________ b. Find the median and the first and third quartiles for the time it took employees who drove their own vehicle. Develop a box plot for the information. ________________ c. Compare the times of the two groups.

Read more

Chapter 4: Problem 24 Basic Statistics for Business and Economics 7

Problem 24E The following box plot shows the number of daily newspapers published in each state and the District of Columbia. Write a brief report summarizing the number published. Be sure to include information on the values of the first and third quartiles, the median, and whether there is any skewness. If there are any outliers, estimate their value.

Read more

Chapter 4: Problem 25 Basic Statistics for Business and Economics 7

Problem 25E Walter Gogel Company is an industrial supplier of fasteners, tools, and springs. The amounts of its invoices vary widely, from less than $20.00 to more than $400.00. During the month of January the company sent out 80 invoices. Here is a box plot of these invoices. Write a brief report summarizing the invoice amounts. Be sure to include information on the values of the first and third quartiles, the median, and whether there is any skewness. If there are any outliers, approximate the value of these invoices.

Read more

Chapter 4: Problem 26 Basic Statistics for Business and Economics 7

Problem 26E National Muffler Company claims it will change your muffler in less than 30 minutes. An investigative reporter for WTOL Channel 11 monitored 30 consecutive muffler changes at the National outlet on Liberty Street. The number of minutes to perform changes is reported below. 44 12 22 31 26 22 30 26 18 28 12 40 17 13 14 17 25 29 15 30 10 28 16 33 24 20 29 34 23 13 a. Develop a box plot for the time to change a muffler. ________________ b. Does the distribution show any outliers? ________________ c. Summarize your findings in a brief report.

Read more

Chapter 4: Problem 27 Basic Statistics for Business and Economics 7

McGivern Jewelers is located in the Levis Square Mall just south of Toledo, Ohio. Recently it ran an advertisement in the local newspaper reporting the shape, size, price, and cut grade for 33 of its diamonds currently in stock. The information is reported below. a. Develop a box plot of the variable price and comment on the result. Are there any outliers? What is the median price? What is the value of the first and the third quartile? b. Develop a box plot of the variable size and comment on the result. Are there any outliers? What is the median price? What is the value of the first and the third quartile? c. Develop a scatter diagram between the variables price and size. Be sure to put a price on the vertical axis and size on the horizontal axis. Does there seem to be an association between the two variables? Is the association direct or indirect? Does any point seem to be different from the others? d. Develop a contingency table for the variables shape and cut grade. What is the most common cut grade? What is the most common shape? What is the most common combination of cut grade and shape?

Read more

Chapter 4: Problem 21 Basic Statistics for Business and Economics 7

Problem 21E In recent years, due to low interest rates, many homeowners refinanced their home mortgages. Linda Lahey is a mortgage officer at Down River Federal Savings and Loan. Below is the amount refinanced for 20 loans she processed last week. The data are reported in thousands of dollars and arranged from smallest to largest. 59.2 59.5 61.6 65.5 66.6 72.9 74.8 77.3 79.2 83.7 85.6 85.8 86.6 870 87.1 90.2 93.3 98.6 100.2 100.7 a. Find the median, first quartile, and third quartile. ________________ b. Find the 26t.h and 83rd percentiies. ________________ c. Draw a box plot of the data.

Read more

Chapter 4: Problem 28 Basic Statistics for Business and Economics 7

Problem 28E Listed below is the amount of commissions earned last month for the eight members of the sales staff at Best Electronics. Calculate the coefficient of skewness using both methods. Hint: Use of a spreadsheet will expedite the calculations. 980.9 1,036.5 1,099.5 1,153.9 1,409.0 1,456.4 1,718.4 1,721.2

Read more

Chapter 4: Problem 29 Basic Statistics for Business and Economics 7

Problem 29E Listed below is the number of car thefts in a large city over the last week. Calculate the coefficient of skewness using both methods. Hint: Use of a spreadsheet will expedite the calculations. 3 12 13 7 8 3 8

Read more

Chapter 4: Problem 31 Basic Statistics for Business and Economics 7

Problem 31E An auto insurance company reported the following information regarding the age of a driver and the number of accidents reported last year. Develop a scatter diagram for the data and write a brief summary. Age Accidents 16 4 24 2 18 5 17 4 23 0 27 1 32 1 22 3

Read more

Chapter 4: Problem 30 Basic Statistics for Business and Economics 7

Problem 30E The manager of Information Services at Wilkin Investigations, a private investigation firm, is studying the relationship between the age (in months) of a combination printer, copy, and fax machine and its monthly maintenance cost. For a sample of 15 machines the manager developed the following chart. What can the manager conclude about the relationship between the variables?

Read more

Chapter 4: Problem 33 Basic Statistics for Business and Economics 7

Problem 33E Listed below is a table showing the number of employed and unemployed workers 20 years or older by gender in the United States in 2006. Number of Workers (000) Gender Employed Unemployed Men 70,415 4,209 Women 61,402 3,314 a. How many workers were studied? ________________ b. What percent of the workers were unemployed? ________________ c. Compare the percent unemployed for the men and the women.

Read more

Chapter 4: Problem 34 Basic Statistics for Business and Economics 7

Problem 34E Refer to the Real Estate data, which report information on homes sold in the Denver, Colorado, area last year. Select the variable selling price. a. Develop a box plot. Estimate the first and the third quartiles. Are there any outliers? ________________ b. Develop a scatter diagram with price on the vertical axis and the size of the home on the horizontal. Does there seem to be a relationship between these variables? Is the relationship direct or inverse? ________________ c. Develop a scatter diagram with price on the vertical axis and distance from the center of the city on the horizontal axis. Does there seem to be a relationship between these variables? Is the relationship direct or inverse?

Read more

Chapter 4: Problem 35 Basic Statistics for Business and Economics 7

Refer to the Baseball 2008 data, which report information on the 30 Major League Baseball teams for the 2008 season. a. Select the variable that refers to the year in which the stadium was built. (Hint: Subtract the year in which the stadium was built from the current year to find the age of the stadium and work with this variable.) Develop a box plot. Are there any outliers? b. Select the variable team salary and draw a box plot. Are there any outliers? What are the quartiles? Write a brief summary of your analysis. How do the salaries of the New York Yankees compare with the other teams? c. Draw a scatter diagram with the number of games won on the vertical axis and the team salary on the horizontal axis. What are your conclusions? d. Select the variable wins. Draw a dot plot. What can you conclude from this plot?

Read more

Chapter 4: Problem 32 Basic Statistics for Business and Economics 7

Problem 32E Wendy’s offers eight different condiments (mustard, catsup, onion, mayonnaise, pickle, lettuce, tomato, and relish) on hamburgers. A store manager collected the following information on the number of condiments ordered and the age group of the customer. What can you conclude regarding the information? Who tends to order the most or least number of condiments? Age Number of Condiments Under 18 18 up to 40 40 up to 60 60 or older 0 12 18 24 52 1 21 76 50 30 2 39 52 40 12 3 or more 71 87 47 28

Read more