Statistics for Management and Economics 11th Edition Keller Solutions Manual.pdf

Statistics for Management and Economics 11th Edition Keller SOLUTIONSMANUAL Full clear download (no formatting errors) at: https://testbankreal.com/download/statistics-management-economics-11th- edition-keller-solutions-manual/ Chapter 2 2.1 Nominal: Occupation, undergraduate major. Ordinal: Rating of university professor, Taste test ratings. Interval: age, income 2.2 a Interval b Interval c Nominal d Ordinal 2.3 a Interval b Nominal c Ordinal d Interval e Interval 2.4 a Nominal b Interval c Nominal d Interval e Ordinal 2.5 a Interval b Interval c Nominal d Interval e Nominal 2.6 a Interval b Interval c Nominal d Ordinal 5 e Interval 2.7 a Interval b Nominal c. Nominal 6 d Interval e Interval f Ordinal 2.8 a Interval b Ordinal c Nominal d Ordinal 2.9 a Interval b Nominal c Nominal 2.10 a Ordinal b Ordinal c Ordinal 2.11 a Nominal b Interval c Ordinal 2.12a Nominal b Interval c Interval d Interval 2.13 7 350,000,000,000 300,000,000,000 250,000,000,000 200,000,000,000 150,000,000,000 100,000,000,000 50,000,000,000 0 2.14 Percentage Brazil, 1.0% Canada, China, 1.6% Venezuela, 11.0% United States, 19.1% 2.3% United Arab Iran, 10.1% Emirates, 6.3% Iraq, 9.2% Saudi Arabia, 17.2% Kazakhstan, 1.9% Kuwait, Libya, 3.1% 6.7% Russia, 6.6% Qatar, 1.6% Nigeria, 2.4% 2.15 8 20,000,000 18,000,000 16,000,000 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 4,000,000 2,000,000 0 France Iran Brazil Canada China Germany India Indonesia Singapore Japan Spain United States Saudi Arabia South Korea Mexico Thailand Australia Italy Russia United Kingdom 2.16 Liquified Lubricants Asphalt and Other Residual fuel oil refinery 1% road oil 2% 3% gas 2% Marketable 3% coke 5% Still gas 5% Jet fuel Gasoline 13% 51% Distillate fuel oil 15% 2.17 9 6,000,000,000,000 5,000,000,000,000 4,000,000,000,000 3,000,000,000,000 2,000,000,000,000 1,000,000,000,000 0 France Brazil Canada China Germany India Korea, South European Union Japan Spain Taiwan United States Australia Italy Saudi Arabia South Africa Turkey Mexico Russia United Kingdom 2.18 9000.0 7706.8 8000.0 7000.0 6000.0 5424.5 5000.0 4000.0 3000.0 2000.0 1591.1 1556.7 1098.0 765.6 1000.0 417.7 541.0 528.6 407.9 528.1 443.6 438.2 451.2 519.9 0.0 2.19 1 0 Steel production 900.0 800.0 700.0 600.0 500.0 400.0 300.0 200.0 100.0 0.0 2.20 1,200,000,000,000 1,000,000,000,000 800,000,000,000 600,000,000,000 400,000,000,000 200,000,000,000 0 2.21 10 Other, 17.5% Metal, 4.1% Organic, 45.8% Glass, 5.1% Plastic, 10.3% Paper, 17.2% 2.22 3500 3000 2500 2000 1500 1000 500 0 2.23 11 2.25 2.24 100 120 10,000 20,000 30,000 40,000 50,000 60,000 20 40 60 80 0 0 Apples Apricots Avocados Bananas Cherries Dates Grapefruits Grapes Kiwi Fruit Lemons & Limes Mangoes Oranges Papayas 12 Peaches & Nectarines Pears Persimmons Pineapples Plantains Plums and Sloes Strawberries Tangerines Minimum wage 11.40 11.25 11.20 11.00 10.70 10.80 10.55 10.60 10.60 10.45 10.50 10.50 10.30 10.40 10.20 10.20 10.20 10.00 9.80 9.60 Percent Earning Minimum Wage 14.00% 11.70% 12.00% 10.00% 8.00% 7.00% 5.60% 5.90% 5.60% 6.00% 5.90% 6.00% 4.90% 3.30% 4.00% 2.20% 2.00% 0.00% 2.26 13 Number of Community students 5% 8% Career focus Location 16% 39% Academic reputation 10% Majors 22% 2.27 Internet 8% Word of mouth 12% Consumer guide 52% Dealership 28% 2.28 14 Living/dining room 9% Kitchen Basement 27% 32% Bathroom Bedroom 23% 9% The basement is the top choice followed by kitchen, bathroom, bedroom, and living/dining room. 2.29 a Newspaper Frequency Relative Frequency Daily News 141 39.2% Post 128 35.6% Times 32 8.9% WSJ 59 16.4% b Wall Street Journal 16% New York Times 9% New York Daily News 39% New York Post 36% The Daily News and the Post dominate the market 15 2.30a Degree Frequency BA 88 BBA 37 B Eng 51 B Sc 24 Other 30 b. 100 88 90 80 70 60 51 50 40 37 30 30 24 20 10 0 BA BBA Beng BSc Other c Other 13% B.Sc. B.A. 11% 38% B.Eng 22% B.B.A. 16% d. About 4 applicants in 10 have the BA degree, about one-fifth have a BEng. and one-sixth have a BBA. 16 2.31a 45 39 40 35 30 25 25 21 20 15 13 10 5 0 HP Lenovo Dell Other b HP, 21 Other, 25 Lenovo, 13 Dell, 39 c Dell is most popular with 40% proportion, followed by other, 26%, HP, 21% and Lenovo, 13%. 2.32 a Software Frequency Excel 34 Minitab 17 SAS 3 SPSS 4 Other 12 b 17 Other 17% SPSS 6% SAS Excel 4% 49% Minitab 24% c Excel is the choice of about half the sample, one-quarter have opted for Minitab, and a small fraction chose SAS and SPSS. 2.33 Other Natural Light 6% 9% Bud Light 31% Miller Lite 21% Busch Light Michelob Light 7% 4% Coors Light 22% 2.34 18 Do not know 20% Many share 41% Some share 39% 2.35 No opinion 3% Fair share 20% Too much 15% Too little 62% 2.36 a 19 Republicans Favor Poor 2% Middle clas 29% Rich 69% b Democrats Favor Rich Poor 29% 35% Middle clas 36% According to the survey Republicans favor the rich and Democrats are split among the middle class, poor, and rich. 2.37 a Category ` Frequency Relative Frequency Mom: Full time, Dad: Full time 403 46.0% Mom: Part time, Dad: Full time 149 17.0% Mom: Not employed, Dad: Full time 228 26.0% Mom: Full time, Dad: Part time or not employed 53 6.0% Mom: Not employed, Dad: Not employed 18 2.1% Other 26 3.0% 20 b Mom Not, Dad Other Mom FT, Dad Not 3% PT/Not 2% 6% Mom FT, Dad FT Mom Not, Dad FT 46% 26% Mom PT, Dad FT 17% c 450 Mom FT, Dad FT, 403 400 350 300 Mom Not, Dad 250 FT, 228 200 Mom PT, Dad FT, 149 150 100 Mom FT, Dad PT/Not, 53 Mom Not, Dad 50 Not, 18 Other, 26 0 Mom FT, Dad Mom PT, Dad Mom Not, Mom FT, Dad Mom Not, Other FT FT Dad FT PT/Not Dad Not d In most households Dad is working full time. There are very few households where neither Mom nor Dad are working. 2.38 21 No opinion 2% Favor 45% Oppose 53% A small majority oppose the Affordable Care Act. 2.39a Views on social issues Frequency Relative Frequency Liberal 322 31.4% Moderate 328 32.0% Conservative 375 36.6% b The country is split among the three views on social issues with a small plurality of conservatives. 22 2.40 a Views on economic issues Frequency Relative Frequency Liberal 208 20.3% Moderate 354 34.5% Conservative 463 45.2% b Liberal 20% Conservative 45% Moderate 35% Economically the country is conservative. 2.41 80000 70000 60000 50000 40000 30000 20000 10000 0 Education Less than high High school Some college College graduate school Series1 Series2 Series3 Series4 23 There is decreasing numbers of Americans who did not finish high school and increasing numbers of those that go to college. 2.42 180,000 160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 0 Year 1995 Year 2000 Year 2005 Year 2008 Spending is increasing in all seven areas. 2.43 350 300 250 200 150 100 50 0 In general crime was decreasing until 2014 when it started increasing. 2.44 24 60 50 40 B.A. 30 B.Eng B.B.A. 20 Other 10 0 University 1 University 2 University 3 University 4 Universities 1 and 2 are similar and quite dissimilar from universities 3 and 4, which also differ. The two nominal variables appear to be related. 2.45 The column proportions are similar; the two nominal variables appear to be unrelated. There does not appear to be any brand loyalty. 2.46 25 The two variables are related. 2.47 700 600 500 400 Men 300 Women 200 100 0 Lost job Left job Reentrants New entrants There are large differences between men and women in terms of the reason for unemployment. 2.48 26 200 180 160 140 120 100 80 Year 1995 60 40 Year 2000 20 Year 2005 0 Year 2010 The number of prescriptions filled by all stores except independent drug stores has increased substantially. 2.49 40% 35% 30% 25% 20% 15% Male 10% Female 5% 0% There appears to be differences between female and male students in their choice of light beer. 2.50 27 120 98 100 83 80 70 68 64 59 60 50 51 46 40 39 40 25 23 20 13 6 0 C. conservative M conservative Mixed M liberal C liberal Many share Some share Don't know 3 There are differences among the five groups. 2.51 300 259 250 236 200 187 Fair share 150 Too much 122 toolittle 100 81 No opnion 70 50 39 34 41 18 7 7 0 Conservative Moderate Liberal All three groups say that upper-income people pay too little. However Conservatives are more likely to say fair share than Moderates or Liberals 2.52 28 600 500 481 401 400 300 200 96 94 100 10 12 0 Democrat Republican Favor Oppose No opinion Democrats support and Republicans oppose the Affordable Care Act. 2.53 250 226 200 173 150 139 114 108 99 100 90 50 35 41 0 Liberal Moderate Conservative Democrat Independent Republican No surprise-on social issues Democrats are liberal and Republicans are conservative. 2.54 29 300 264 250 200 159 150 125 133 113 100 82 66 69 50 14 0 Democrat Independent Republican Liberal Moderate Conservative On economic issues Republicans are very conservative whereas Democrats and Moderates are mixed. 2.55 7,000.0 6,542.6 6,000.0 5,699.4 5,000.0 4,000.0 2,897.7 3,000.0 2,648.2 2,000.0 863.6 1,000.0 556.5 0.0 U.S. U.S. Social U.S. Federal U.S. Civil U.S. Military Foreign Individuals Security Trust Reserve Service Retirement Nations and Fund Retirement Fund Institutions Fund 2.56 30 1,400.0 1,254.8 1,149.2 1,200.0 1,000.0 800.0 600.0 400.0 322.0 291.4 255.0 232.9 225.6 210.6 197.0 188.2 200.0 0.0 2.57 16,000 14,732 14,000 12,000 10,043 10,000 8,000 7,013 6,000 4,214 3,895 4,000 2,397 1,225 1,648 2,000 0 2.58 31 40 35 30 25 20 15 10 5 0 Married 0 Married One Parent, At children Couple w Least 1 < 18 children Food Housing Transportation Healthcare Insurance & pensions Other The pattern is about the same for the three households. 2.59 Don't know/refused Other 4% reasons 12% Unemployed/wor k doesn't offer/not eligible at work Too expensive 11% 47% Told they were ineligible 7% Immigration status 7% Don't Opposed to the know ECA/prefer to pay how to get it penalty Don't need it 3% 3% 6% 2.60 32 0.250 0.200 0.150 0.100 0.050 0.000 2013 Uninsured Rate 2014 Uninsured Rate There are decreases in almost every state. However, there are many Americans without health insurance. 2.61 Strongly agree 4% Strongly disagree 15% Agree 23% Disagree 20% Neither agree nor disagree 38% More students disagree than agree. 2.62 33 Excellent 3% Very good Poor 10% 15% Good Fair 45% 27% More than 40% rate the food as less than good. 2.63 Manual 18% Computer 44% Computer and manual 38% 34 2.64 45% 40% 35% 30% 25% Children 20% No children 15% 10% 5% 0% Poor Fair Good Very good Excellent Customers with children rated the restaurant more highly than did customers with no children. 2.65 45 40 35 30 25 20 15 10 Female 5 Male 0 Males and females differ in their areas of employment. Females tend to choose accounting marketing/sales and males opt for finance. b 35 40 35 30 25 20 15 Very satisfied 10 Quite satisfied 5 Little satisfied 0 Not satisfied Area and job satisfaction are related. Graduates who work in finance and general management appear to be more satisfied than those in accounting, marketing/sales, and others. 2.66 Males 45% Females 55% The survey oversampled women slightly. 2.67 36 Others 10% Blacks 15% Whites 75% 2.68a Married 1158 Widowed 209 Divorced 411 Separated 81 Never married 675 b. Pie chart c. Never married 27% Married 46% Separated 3% Divorced 16% Widowed 8% 37 2.69 Cpmpleted graduate degree 11% Left high school 13% Completed Bachelor's degree 19% Graduated high school 50% Completed junior college 7% 2.70 800 700 600 Left high school 500 High schoo; 400 Junior college 300 Bachelor's degree Graduate 200 100 0 Male Female The patterns are similar. 2.71 38 Government 19% Private sector 81% 2.72 1600 1467 1400 1200 1000 800 600 400 White, 340 273 199 200 Black, 94 Other, 34 0 White Black Other The patterns are similar. 2.73 39 1400 1196 1200 1000 949 800 Self-employed 600 Work for someone else 400 200 0 Male Female Males are slightly more likely to be self-employed than females. 2.74 Category 1 10% Category 5 30% Category 2 13% Category 3 14% Category 4 33% The ”married” categories (4 and 5) make up more than 60% of the households. 2.75 40 2500 2000 1500 No high school High school 1000 Some college College degree 500 0 Male Female There are large differences between male and female heads of households. 2.76 Other 5% Hispanic 9% Black 12% White 74% Whites make up three quarters of the survey. 2.77 41 1800 1600 1400 1200 1000 800 600 400 200 0 White Black Hispanic Other 1 2 3 4 5 There are large differences between the four races in terms of family structure. 2.78 2500 College degree, 2227 2000 1500 High school, 953 1000 Some college, 646 613 567 No high school, 463 500 252 294 0 No high school High school Some college College degree Own Otherwise College degree holders are much more likely to own their homes. 42 I RA[ LL for Managemient and conon,�cs .IDE m Y C.O PIU IE Nir' RPll 1" Slides by: Andrew Stephenson Georgia Gwinnett College Chapter Two 1.2 Graphical Descriptive Techniques 1 • Types of Data and Information • Describing a Set of Nominal Data • Describing the Relationship between Two Nominal Variables and Comparing Two or More Nominal Data Sets Types of Data & Information 1.3 Definitions A variable is some characteristic of a population or sample. E.g. student grades. Typically denoted with a capital letter: X, Y, Z… The values of the variable are the range of possible values for a variable. E.g. student marks (0..100) Data are the observed values of a variable. E.g. student marks: {67, 74, 71, 83, 93, 55, 48} Types of Data & Information 1.4 Hierarchy of Data Data (at least for purposes of Statistics) fall into three main groups: Interval Data Nominal Data Ordinal Data The data types can be placed in order of the permissible calculations. At the top of the list, we place the interval data type because virtually all computations are allowed. The nominal data type is at the bottom because no calculations other than determining frequencies are permitted. Types of Data & Information 1.5 Interval data • Real numbers, i.e. heights, weights, prices, etc. • Also referred to as quantitative or numerical. Arithmetic operations can be performed on Interval Data, thus its meaningful to talk about 2*Height, or Price + $1, and so on. Types of Data & Information 1.6 Nominal Data • The values of nominal data are categories. E.g. responses to questions about marital status, coded as: Single = 1, Married = 2, Divorced = 3, Widowed = 4 These data are categorical in nature; arithmetic operations don’t make any sense (e.g. does Widowed ÷ 2 = Married?!) Nominal data are also called qualitative or categorical. Types of Data & Information 1.7 Ordinal Data appear to be categorical in nature, but their values have an order; a ranking to them: E.g. College course rating system: poor = 1, fair = 2, good = 3, very good = 4, excellent = 5 While its still not meaningful to do arithmetic on this data (e.g. does 2*fair = very good?!), we can say things like: excellent > poor or fair < very good That is, order is maintained no matter what numeric values are assigned to each category. Types of Data & Information 1.8 As mentioned above, • All calculations are permitted on interval data. • Only calculations involving a ranking process are allowed for ordinal data. • No calculations are allowed for nominal data, save counting the number of observations in each category. This lends itself to the following “hierarchy of data”… Types of Data & Information 1.9 Interval Values are real numbers. All calculations are valid. Data may be treated as ordinal or nominal. Ordinal Values must represent the ranked order of the data. Calculations based on an ordering process are valid. Data may be treated as nominal but not as interval. Nominal Values are the arbitrary numbers that represent categories. Only calculations based on the frequencies of occurrence are valid. Data may not be treated as ordinal or interval. Describing a Set of Nominal Data 1.10 Graphical & Tabular Techniques for Nominal Data… The only allowable calculation on nominal data is to count the frequency of each value of the variable. We can summarize the data in a table that presents the categories and their counts called a frequency distribution. A relative frequency distribution lists the categories and the proportion with which each occurs. Example 2.1 Work Status in the GSS 2012 Survey 1.11 [GSS2012*] In Chapter 1 we briefly introduced the General Social Survey. In the 2012 survey respondents were asked the following question. Last week were you working full time, part time, going to school, keeping house, or what? The responses were 1. Working full time 2. Working part time 3. Temporarily not working 4. Unemployed, laid off 5. Retired 6. School 7. Keeping house 8. Other The responses were recorded using the codes 1, 2, 3, 4, 5, 6, 7, and 8, respectively. Describing a Set of Nominal Data 1.12 Frequency and Relative Frequency Distributions Work Status Code Frequency Relative Frequency (%) Working full-time 1 912 46.2 Working part-time 2 226 11.5 Temporarily not working 3 40 2.0 Unemployed, laid off 4 104 5.3 Retired 5 357 18.1 School 6 70 3.5 Keeping house 7 210 10.6 Other 8 54 2.7 Describing a Set of Nominal Data 1.13 Nominal Data (Frequency) Bar Chart 1000 912 900 800 700 600 500 400 357 300 226 210 200 104 100 70 54 40 0 1 2 3 4 5 6 7 8 WRKSTAT Bar Charts are often used to display frequencies… Describing a Set of Nominal Data 1.14 Nominal Data (Relative Frequency) Pie Chart 8, 2.7% 7, 1 6, 3.5% 1, 46.2% 5, 18.1% 4, 5.3 3, 2.0% 2, 11.5% Pie Charts show relative frequencies… Describing a Set of Nominal Data 1.15 Bar Chart 1000 912 900 800 It is all the same information, 700 600 (based on the same data). Just 500 400 357 different presentation. 300 226 210 200 104 40 70 54 100 0 1 2 3 4 5 6 7 8 WRKSTAT Pie Chart 8, 2.7% 7, 6, 3.5% 10.6% 1, 46.2% 5, 18.1% 4, 5.3 % 3, 2.0% Describing the Relationship between Two Nominal Variables 1.16 To describe the relationship between two nominal variables, we must remember that we are permitted only to determine the frequency of the values. As a first step we need to produce a cross-classification table, which lists the frequency of each combination of the values of the two variables Example 2.4 Newspaper Readership Survey 1.17 In a major North American city there are four competing newspapers: the Globe and Mail (G&M), Post, Sun, and Star. To help design advertising campaigns, the advertising managers of the newspapers need to know which segments of the newspaper market are reading their papers. A survey was conducted to analyze the relationship between newspapers read and occupation. A sample of newspaper readers was asked to report which newspaper they read: Globe and Mail (1) Post (2), Star (3), Sun (4), and to indicate whether they were blue-collar worker (1), white-collar worker (2), or professional (3). The responses are stored in Xm02-04 using the codes. Some of the data are listed here. Example 2.4 1.18 Reader Occupation Newspaper 1 2 2 2 1 4 3 2 1 . . . . . . . . 352 3 2 353 1 3 354 2 3 Determine whether the two nominal variables are related. Describing the Relationship between Two Nominal Variables 1.19 Cross-Classification Table of Frequencies Newspaper Occupation G&M Post Star Sun Total Blue collar 27 18 38 37 120 White collar 29 43 21 15 108 Professional 33 51 22 20 126 Total 89 112 81 72 354 Describing the Relationship between Two Nominal Variables 1.20 Row Relative Frequencies Newspaper Occupation G&M Post Star Sun Total Blue collar .23 .15 .32 .31 1.00 White collar .27 .40 .19 .14 1.00 Professional .26 .40 .17 .16 1.00 Total .25 .32 .23 .20 1.00 Graphing the Relationship between 2 Nominal Variables 1.21 60 Post 50 Post Star Sun 40 G&M G&M G&M 30 Star Star Sun Post 20 Sun 10 0 Blue collar White collar Professional Occupation The shapes of the bar charts for White-collar and Professional are very similar, but both differ considerably from Blue collar. Graphing the Relationship between 2 Nominal Variables 1.22 INTERPRET If the two variables are unrelated, the patterns exhibited in the bar charts should be approximately the same. If some relationship exists, then some bar charts will differ from others. The graphs tell us the same story as did the table. The shapes of the bar charts for occupations 2 and 3 (White-collar and Professional) are very similar. Both differ considerably from the bar chart for occupation 1 (Blue-collar). 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