Solution Manual for Essentials of Modern Business Statistics with Microsoft Excel 8th Edition Anderson – Complete Answer Guide (Chapters 1-15)

TEST BANK V

EssentialsVofVModernVBusinessVStatisticsVwithVMicrosoftVExcel

byVDavidVR.VAnderson,VDennisVJ.VSweeney,VThomasVA.VWilliams,
JeffreyVD.VCamm
8thVEdition




FULL TEST BANK
V V

,Chapter 1 V


Data and Statistics
V V




LearningVObjectives

1. ObtainVanVappreciationVforVtheVbreadthVofVstatisticalVapplicationsVinVbusinessVandVeconomics.

2. UnderstandVtheVmeaningVofVtheVtermsVelements,Vvariables,VandVobservationsVasVtheyVa
reVusedVinVstatistics.

3. ObtainVanVunderstandingVofVtheVdifferenceVbetweenVcategorical,Vquantitative,Vcross-
sectional,VandVtimeVseriesVdata.

4. LearnVaboutVtheVsourcesVofVdataVforVstatisticalVanalysisVbothVinternalVandVexternalVtoVtheVfirm.

5. BeVawareVofVhowVerrorsVcanVariseVinVdata.

6. KnowVtheVmeaningVofVdescriptiveVstatisticsVandVstatisticalVinference.

7. BeVableVtoVdistinguishVbetweenVaVpopulationVandVaVsample.

8. UnderstandVtheVroleVaVsampleVplaysVinVmakingVstatisticalVinferencesVaboutVtheVpopulation.

9. KnowVtheVmeaningVofVtheVtermsVanalytics,VbigVdataVandVdataVmining.

10. BeVawareVofVethicalVguidelinesVforVstatisticalVpractice.

,
, Solutions:

1. StatisticsVcanVbeVreferredVtoVasVnumericalVfacts.VInVaVbroaderVsense,VstatisticsVisVtheVfi
eldVofVstudyVdealingVwithVtheVcollection,Vanalysis,Vpresentation,VandVinterpretationVofV
data.

2. a. TheVtenVelementsVareVtheVtenVtabletVcomputers.

b. FiveVvariables:VCostV($),VOperatingVSystem,VDisplayVSizeV(inches),VBatteryVLifeV(hou
rs),VCPUVManufacturer

c. CategoricalVvariables:VOperatingVSystemVandVCPUVManufacturer

QuantitativeVvariables:VCostV($),VDisplayVSizeV(inches),VandVBatteryVLifeV(hours)

d. V
Variable MeasurementV Scale
CostV($) Ratio
OperatingVSystem Nominal
DisplayVSizeV(inches) Ratio
BatteryVLifeV(hours) Ratio
V CPUVManufacturer Nominal

3. a. AverageVcostV=V5829/10V=V$582.90

b. AverageVcostVwithVaVWindowsVoperatingVsystemV=V3616/5V=V

$723.20VAverageVcostVwithVanVAndroidVoperatingVsystemV=V1

714/4V=V$428.5VTheVaverageVcostVwithVaVWindowsVoperating

VsystemVisVmuchVhigher.

c. 2VofV10VorV20%VuseVaVCPUVmanufacturedVbyVTIVOMAP.

d. 4VofV10VorV40%VuseVanVAndroidVoperatingVsystem.

4. a.
ThereVareVeightVelementsVinVthisVdataVset;VeachVelementVcorrespondsVtoVoneVofVt
heVeightVmodelsVofVcordlessVtelephones.

b. CategoricalVvariables:VVoiceVQualityVandVHandsetVonV

BaseVQuantitativeVvariables:VPrice,VOverallVScore,Vand

VTalkVTime

c. PriceV–VratioVmeasurement
OverallVScoreV–
VintervalVmeasurementVVoiceVQualityV–
VordinalVmeasurementVHandsetVonVBase
V–VnominalVmeasurementVTalkVTimeV–
VratioVmeasurement

5. a. AverageVPriceV=V545/8V=V$68.13

b. AverageVTalkVTimeV=V71/8V=V8.875Vhours

4V-V
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