Test Bank for Basic Statistics for Business and Economics 9th Edition Douglas Lind, William Marchal, Samuel Wathen

TEST BANK FOR
BASIC STATISTICS
FOR BUSINESS
AND ECONOMICS
9TH EDITION
DOUGLAS LIND,
WILLIAM
MARCHAL,
SAMUEL WATHEN

, Chapter 2

Describing Data: Frequency Tables, Frequency Distributions, and
Graphic Presentation

1. Pepsi-Cola has a 25% market share, found by 90/360. (LO2-2)

2. Three classes are needed, one for each player. (LO2-1)

3.
Season Frequency Relative Frequency
Winter 100 0.1
Spring 300 0.3
Summer 400 0.4
Fall 200 0.2
Total 1000 1.0
(LO2-1)

4.
City Frequency Relative Frequency
Indianapolis 100 0.05
St. Louis 450 0.225
Chicago 1300 0.65
Milwaukee 150 0.075
(LO2-1)

5. a. A frequency table.
Color Frequency Relative Frequency

Bright White 130 0.10

Metallic Black 104 0.08

Magnetic lime 325 0.25

Tangerine Orange 455 0.35

Fusion Red 286 0.22

Total 1300 1.00

,b.

500
400
Frequency


300
200
100
0

Favorite Color of Cell Phone Replacement
Cover

, c.




d. Wellstone Inc. should produce 350,000 orange; 250,000 lime; 220,000 red; 100,000 white,
and 80,000 black. These numbers are found by multiplying the relative frequency of each
color by the 1,000,000 production level. (LO2-2)

6. Maxwell Heating & Air Conditioning far exceeds the other corporations in sales. Mancell
electric & Plumbing and Mizelle Roofing & Sheet Metal are the two corporations with the
least amount of fourth quarter sales. (LO2-2)

Chart of Sales
25000



20000



15000
Sales




10000



5000



0
Hoden J&R Long Bay Mancell Maxwell Mizelle
Corporation



7. 25 = 32 < 38 < 64 = 26 therefore 6 classes (LO2-3)

$29  $0
8. 25 = 32< 45 < 64 = 26 suggests 6 classes. i   4.47 Use interval of 5. (LO2-3)
6

567  235
9. 27 = 128< 230 < 256 = 28 suggests 8 classes i   41.5 Use interval of 45. (LO2-3)
8