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Statistics For Business Economics 14e Metric Version Chapter3
Statistics For Business Economics 14e Metric Version Chapter3
Statistics For Business Economics 14e Metric Version Chapter3
Chapter3
Statistic (國立臺北大學)
Chapter 3
Learning Objectives
2. Be able to compute the mean, weighted mean, geometric mean, median, mode, quartiles,
4. Be able to compute the range, interquartile range, variance, standard deviation, and
coefficient of variation.
positively skewed.
6. Understand how z scores are computed and how they are used as a measure of relative
7. Know how Chebyshev’s theorem and the empirical rule can be used to determine the
percentage of the data within a specified number of standard deviations from the mean.
Solutions:
xi 75
1. x 15
n 5
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or in part.
2. x 96
xi 16
6
n
16 17
Median = 2 16.5
wi
3. a. x 6(3.2) 3(2) 2(2.5) 8(5) 70.2
xi 3.69
wi 6328 19
4.
1 –6.0
2 –8.0
3 –4.0
4 2.0
5 5.4
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or in part.
5. 15, 20, 25, 25, 27, 28, 30, 34
p 20
L (n 1) (8 1) 1.8
20
100 100
p 25
L (n 1) (8 1) 2.25
25
100 100
p 65
L (n 1) (8 1) 5.85
65
100 100
p 75
L (n 1) (8 1) 6.75
75
100 100
25
d. 𝐿25 = p ( 𝑛+ 1) = (40 + 1) = 10.25
100 100
𝐿75 75
𝑝 ( 𝑛+ 1) = (40 + 1) = 30.75
= 100 100
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or in part.
75th percentile = 45 + .75(46 ̶ 45) = 45.75
managers working at firms in Atlanta is slightly lower than the median salary
Mean salary is $84,000. The sample mean salary for the sample of 15 middle-level
managers is greater than the median salary. This indicates that the distribution of
p 25
i (n 1) (16) 4
100 100
p 75
i (n 1) (16) 12
100 100
2.34 2.19
Median 2.265
2
c.
L.25
25
(12 1) Q1 = 1.97 + .25(2.09-1.97) = 2.0
3.25
100
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or in part.
75
L.75 (12 1) Q3 = 2.56 + .75(2.91-2.56) = 2.8225
9.75
100
x
x i
1318
65.9
10. a.
n 20
Order the data from the lowest rating (42) to the highest rating (83)
1 42 11 67
2 53 12 67
3 54 13 68
4 61 14 69
5 61 15 71
6 61 16 71
7 62 17 76
8 63 18 78
9 64 19 81
10 66 20 83
p 50
L (n 1) (20 1) 10.5
50
100 100
Mode is 61.
p 25
b. L (n 1) (20 1) 5.25
25
100 100
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or in part.
First quartile or 25th percentile = 61
p 75
L (n 1) (20 1) 15.75
75
100 100
Ninety percent of the ratings are 80.7 or less; 10% of the ratings are 80.7 or
greater.
11. a. The mean hours viewed by those aged 18–34 is 20.60; the median hours viewed by
b. The mean hours viewed by those aged 35–49 is 32.56; the median hours viewed by
c. Older viewers (those aged 35–49) watch more traditional TV than younger viewers
12. a. The mean for the previous year is 34,182; the median for the previous year is 34,000;
b. The mean for the current year is 35,900; the median for the current year is 37,000; the
𝐿25 25
𝑝 (𝑛+ 1) = (11 + 1) = 3
= 100 100
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or in part.
75
𝐿75 𝑝 ( 𝑛+ 1) = (11 + 1) = 9
= 100 100
𝐿25 25
𝑝 ( 𝑛+ 1) = (10 + 1) = 2.75
= 100 100
𝐿75 75
𝑝 ( 𝑛+ 1) = (10 + 1) = 8.25
= 100 100
e. The mean, median, mode, Q1, and Q3 values are all larger for the current year than
for the previous year. This indicates that there have been more consistently more
For the samples, we see that the mean mileage is better on the highway than in the
city.
City
5.6 6.1 6.4 6.5 6.5 6.5 6.7 6.8 6.8 6.9 6.9 7.1 7.1
Median
Mode: 6.5
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or in part.
Highway
7.3 7.4 7.7 7.8 7.9 7.9 7.9 8.0 8.1 8.2 8.2 8.7 8.9
Median
Mode: 7.9
The median and modal mileages are also better on the highway than in the city.
p 25
L (n 1) (50 1) 12.75
25
100 100
p 50
L (n 1) (50 1) 25.5
50
100 100
p 75
L (n 1) (50 1) 38.25
75
100 100
p 25
L (n 1) (50 1) 12.75
25
100 100
p 50
L (n 1) (50 1) 25.5
50
100 100
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or in part.
p 75
L (n 1) (50 1) 38.25
75
100 100
The results show that in the current year approximately 25% of the states had an
unemployment rate of 6.2% or less, lower than in the previous year. And the median
of 7.35% and the third quartile of 8.6% in the current year are both less than the
corresponding values in the previous year, indicating that unemployment rates across
15. To calculate the average sales price, we must compute a weighted mean. The
weighted mean is
= 38.11
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or in part.
16. a.
Grade xi Weight Wi
4 (A) 9
3 (B) 15
2 (C) 33
1 (D) 3
0 (F) 0
60 Credit Hours
17. a. x
wx i i
9191(4.65) 2621(18.15) 1419(11.36) 2900(6.75)
w i 9191 26211419 2900
126, 004.14
7.81
16,131
The weighted average total return for the Morningstar funds is 7.81%.
b. If the amount invested in each fund was available, it would be better to use those
amounts as weights. The weighted return computed in part (a) will be a good
c. Portfolio return
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or in part.
122, 730
10, 000 12.27
18.
5 44 220 31 155
4 66 264 34 136
3 60 180 43 129
2 10 20 12 24
1 0 0 0 0
fi M i 444
x 3.7
Recruiters: n 120
19. To calculate the mean growth rate, we must first compute the geometric mean of the five
growth factors:
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or in part.
2017 –1.1 0.989
xg n x1 x2 x5
5 1.0551.0110.9650.9891.018 5 1.036275 1.007152
20.
Stivers Trippi
and
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or in part.
xg n x1 x2 x8 8 1.80 1.07624
So the mean annual return for the Stivers mutual fund is (1.07624 – 1)100 = 7.624%.
and
xg n x1 x2 x8
8 2.12 1.09848
So the mean annual return for the Trippi mutual fund is (1.09848 – 1)100 = 9.848%.
Although the Stivers mutual fund has generated a nice annual return of 7.6%,
the annual return of 9.8% earned by the Trippi mutual fund is far superior.
xg n x1 x2 x9
9 1.428571 1.040426
and so
xg n x1 x2 x6
6 2.50 1.165
23. Range 20 – 10 = 10
p 25
L (n 1) (5 1) 1.5
25
100 100
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or in part.
First quartile or 25th percentile = 10 + . 5(12 ̶ 10) = 11
p 75
L (n 1) (5 1) 4.5
75
100 100
24. 75 15
xxi 5
n
( xi x ) 2 64
s2 16
n1 4
s 16 4
Range = 34 – 15 = 19
p 25
L (n 1) (8 1) 2.25
25
100 100
p 75
L (n 1) (8 1) 6.75
75
100 100
xi
x 204
25.5
n
8
( xi x )2 242
s2 34.57
n1 7
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or in part.
s 34.57 5.88
26. a. x
x i i
19.66
0.983
n 20
b. s
(x i
x )
i
2
0.11842
.00623 .0789
n 1 20 1
c. The average price for a gallon of unleaded gasoline in San Francisco is much higher
than the national average. This indicates that the cost of living in San Francisco is
higher than it would be for cities that have an average price close to the national
average.
27. a. The mean price for a round-trip flight into Atlanta is $356.73, and the mean price for
a round-trip flight into Salt Lake City is $400.95. Flights into Atlanta are less
expensive than flights into Salt Lake City. This possibly could be explained by the
locations of these two cities relative to the 14 departure cities; Atlanta is generally
b. For flights into Atlanta, the range is $290.00, the variance is 5,517.41, and the
standard deviation is $74.28. For flights into Salt Lake City, the range is $458.80, the
The prices for round-trip flights into Atlanta are less variable than prices for
round-trip flights into Salt Lake City. This could also be explained by Atlanta’s
28. a. The mean annual sales amount is $315,643, the variance is 13,449,632, and the
b. Although the mean sales amount has increased from the previous to most recent fiscal
year by more than $15,000, this amount is extremely small compared to the standard
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or in part.
deviation in either fiscal year. Therefore, there is a strong likelihood that this change
is the result of simple randomness rather than a true change in demand for these
products.
29. a. Range = 60 – 28 = 32
b. x 435
48.33
9
(x x )2 742
s2 i
92.75
n1 8
s 92.75 9.63
c. The average air quality is about the same, but the variability is greater in Anaheim.
4.1
s 0.67
9
J. C. Clark: Range = 15 – 7 = 8
60.1
s 2.58
9
31. a.
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or in part.
Standard Deviation 540.8 431.7 334.5
b. The 45+ group appears to spend less on cellular phone service than the other two
groups, and the 18–34 and 35–44 groups spend similar amounts of coffee.
32. a. Automotive:
x
x i
39201
1960.05
n 20
Department
store:
x
x 13857 692.85
i
n 20
b. Automotive:
s
( x x )2
i
4, 407, 720.95
481.65
(n 1) 19
Department store:
s
( x x )2
i
456804.55
155.06
(n 1) 19
Department store:
d. Order the data for each variable from the lowest to highest.
1 598 448
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or in part.
2 1,512 472
3 1,573 474
4 1,642 573
5 1,714 589
6 1,720 597
7 1,781 598
8 1,798 622
9 1,813 629
10 2,008 669
11 2,014 706
12 2,024 714
13 2,058 746
14 2,166 760
15 2,202 782
16 2,254 824
17 2,366 840
18 2,526 856
19 2,531 947
20 2,901 1011
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or in part.
p 25
i (n 1) (21) 5.25
100 100
p 75
i (n 1) (21) 15.75
100 100
e. Automotive spends more on average, has a larger standard deviation, larger max and
min, and larger range than department store. Autos have all new model years and may
xi 608
x 76
n 8
(xi x )2 30
s 2.07
n 1 7
For 2018:
xi 608
x 76
n 8
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or in part.
(xi x )2 194
s 5.26
n 1 7
b. The mean score is 76 for both years, but there is an increase in the standard deviation
for the scores in 2018. The golfer is not as consistent in 2018 and shows a sizable
increase in the variation with golf scores ranging from 71 to 85. The increase in
variation might be explained by the golfer trying to change or modify the golf swing.
viewed as a poorer performance in 2018. The optimism in 2018 is that three of the
eight scores were better than any score reported for 2017. If the golfer can work for
consistency, eliminate the high score rounds, and reduce the standard deviation, golf
s = 0.0564
Coefficient of variation =
Milers
s = 0.1295
Coefficient of variation =
Yes; the coefficient of variation shows that as a percentage of the mean the quarter
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or in part.
xi 75
35. x 15
n 5
𝑛— 1 4
10 15
10 z 1.25
4
20 15
20 z 1.25
4
12 15
12 z .75
4
17 15
17 z .50
4
16 15
16 z .25
4
36.
520 500
z 100 .20
650 500
z 1.50
100
500 500
z 100 0.00
450 500
z 100 .50
280 500
z 2.20
100
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or in part.
37. a.
20 30
z 2, 1
40 30 1 .75 At least 75%
2z
2
5 5 2
15 30
b. z 1
45 30 1 .89 At least 89%
3, 3z
5 5 32
22 30 38 30 1
c. z 1.6, z 1.6 1
.61At least 61%
5 5 1.62
18 30 42 30 1
d. z 2.4, z 2.4 1
.83 At least 83%
5 5 2.42
12 30 48 30 1
e. z 3.6, z 3.6 1
.92 At least 92%
5 5 3.62
b. Almost all
c. Approximately 68%
39. a. This is from two standard deviations below the mean to two standard deviations
1 1 1 3
1 1 1
z2 22 4 4
Therefore, at least 75% of adults sleep between 4.5 and 9.3 hours per day.
b. This is from 2.5 standard deviations below the mean to 2.5 standard deviations above
the mean.
1
1 1 1
.84
z2 1 2.52 1 6.2
5
Therefore, at least 84% of adults sleep between 3.9 and 9.9 hours per day.
c. With z = 2, the empirical rule suggests that 95% of adults sleep between 4.5and 9.3
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or in part.
hours per day. The percentage obtained using the empirical rule is greater than the
40. a. $0.88 is one standard deviation below the mean, and $0.94 is one standard deviation
above the mean. The empirical rule says that approximately 68% of gasoline sales are
b. Part (a) shows that approximately 68% of the gasoline sales are between $0.88 and
or 34%, of the gasoline sales should be between $0.88, and the mean price of $0.91.
$0.97 is two standard deviations above the mean price of $0.91. The empirical rule
says that approximately 95% of the gasoline sales should be within two standard
deviations of the mean. Thus, approximately half of 95%, or 47.5%, of the gasoline
sales should be between the mean price of $0.91 and $0.97. The percentage of
gasoline sales between $0.88 and $0.97 should be approximately 34% + 47.5% =
81.5%.
c. $0.97 is two standard deviations above the mean, and the empirical rule says that
approximately 95% of the gasoline sales should be within two standard deviations of
the mean. Thus, 1 – 95% = 5% of the gasoline sales should be more than two standard
41. a. The value 647 is one standard deviation above the mean. Approximately 68% of the
scores are between 447 and 647 with half of 68%, or 34%, of the scores between the
mean of 547 and 647. Also, because the distribution is symmetric, 50% of the scores
are above the mean of 547. With 50% of the scores above 547 and with 34% of the
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or in part.
scores between 547 and 647, 50% – 34% = 16% of the scores are 647 or higher.
b. The value 747 is two standard deviations above the mean. Approximately 95% of the
scores are between 347 and 747 with half of 95%, or 47.5%, of the scores between
the mean of 547 and 747. Also, because the distribution is symmetric, 50% of the
scores are above the mean of 547. With 50% of the scores above 547 and 47.5% of
the scores between 547 and 747, 50% – 47.5% = 2.5% of the scores are 747 or higher.
c. Approximately 68% of the scores are between 447 and 647 with half of 68%, or 34%,
d. Approximately 95% of the scores are between 347 and 747 with half of 95%, or
47.5%, of the scores between 347 and the mean of 547. Approximately 68% of the
scores are between 447 and 647 with half of 68%, or 34%, of the scores between the
mean of 547 and 647. Thus, 47.5% + 34% = 81.5% of the scores are between 347 and
647.
c. $2300 is .67 standard deviations below the mean. $4900 is 1.50 standard deviations
$13,000 is 8.25 standard deviations above the mean. This cost is an outlier.
43. a. The mean household income is $72,342.94. The median household income is
$66,743.
b. The mean household income is larger than the median household income. This
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or in part.
indicates that the distribution of household income is positively skewed (skewed
right), and some large household incomes are pulling up the mean with less effect on
the median.
25
d. 𝐿25 = p (𝑛+ 1) = (50 + 1) = 12.75
100 100
𝐿75 75
𝑝 (𝑛+ 1) = (50 + 1) = 38.25
= 100 100
There are no values below the lower limit, but there are two values above the
upper limit: Mercer Island, Washington = $128,484 and Paradise Valley, Arizona =
$138,192. These household income values would be considered outliers. These are
(xi x )2 442.5
s 7
n 1 10 1
xx 84 76.5
b. z s 7 1.07
This is approximately one standard deviation above the mean. Approximately 68% of
the scores are within one standard deviation. Thus, half of (100–68), or 16%, of the
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or in part.
games should have a winning score of 84 or more points.
x x 90 76.5
z s 7 1.93
This is approximately two standard deviations above the mean. Approximately 95%
of the scores are within two standard deviations. Thus, half of (100–95), or 2.5%, of
(xi x )2 559.6
s 7.89
n 1 10 1
xx 24 12.2
z 1.50 . No outliers.
s 7.89
12 15 15 18 18 19 20 21 22 22 24 24 26 26 27 29 42 64
b. The first quartile is also the 25th percentile. Therefore, we must first find the position
𝐿25 25
𝑝 (𝑛+ 1) = (18 + 1) = 4.75
= 100 100
The first quartile or 25th percentile is 75% of the way between values in positions 4
and 5.
The third quartile is also the 75th percentile. Therefore, we must first find the position
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or in part.
in the data of the 75th percentile.
𝐿75 75
𝑝 ( 𝑛+ 1) = (18 + 1) = 14.25
= 100 100
Third quartile or 75th percentile is 25% of way between values in positions 14 and
15.
d. The sample variance is 140.82. The sample standard deviation is √140.82 = 11.87.
There are no data values smaller than the lower limit, but there are two data values
larger than the upper limit: 42 and 64. These values would be considered outliers.
f. The mean percentage of students using iPads in public school districts is 24.67, but
there are some school districts where many more students are using iPads: as high as
64%.
Smallest = 15
p 25
L (n 1) (8 1) 2.25
25
100 100
p 50
L (n 1) (8 1) 4.5
50
100 100
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or in part.
p 75
L (n 1) (8 1) 6.75
75
100 100
Largest = 34
Smallest = 5
p 25
L (n 1) (9 1) 2.5
25
100 100
p 50
L (n 1) (9 1) 5.0
50
100 100
p 75
L (n 1) (9 1) 7.5
75
100 100
Largest = 18
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or in part.
A box plot follows:
49. IQR = 50 – 42 = 8
65 is an outlier.
50. a. The first place runner in the men’s group finished 109.03 65.30 43.73 minutes ahead
of the first place runner in the women’s group. Lauren Wald would have finished in
b. Men: 50
i 22 .50(22) 11
100
109.05 110.23
Median = 109.64
2
Women: 50
i 31 .50(31) 15.5
100
Median = 131.67
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or in part.
Using the median finish times, the men’s group finished 131.67 109.64 22.03
Also note that the fastest time for a woman runner, 109.03 minutes, is
approximately equal to the median time of 109.64 minutes for the men’s group.
Q1: 25
i (n 1) .25(23) Q1 = 70.87 + .75(87.18-70.87) = 83.1025
5.75
100
75
Q3: i (n 1) .75(23) Q3 = 128.4 + .25(130.90—128.40) = 129.025
17.25
100
25
Q1: i (n 1) .25(32) 8.0
100
Q1 = 122.08
Q3: 75
i (n 1) .75(32) 24.0
100
Q3 = 147.18
The two slowest women runners with times of 189.27 and 189.28 minutes are outliers
e.
175
Time in Minutes
150
125
Men Women
100
the box plots show the women runners with the lower variation in finish times. The
50
interquartile ranges of 41.22 minutes for men and 25.10 minutes for women support
this conclusion.
p 25
L (n 1) (21 1) 5.5
25
100 100
p 50
L (n 1) (21 1) 11.0
50
100 100
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or in part.
Second quartile or median = 4,019
p 75
L (n 1) (21 1) 16.5
75
100 100
Largest = 14,138
b. Limits:
d. Yes, if the first two digits in Johnson and Johnson's sales were transposed to 41,138,
sales would have shown up as an outlier. A review of the data would have enabled the
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or in part.
73 74
Median = 73.5
2
All ratings are between 66 and 80. There are no outliers for the T-Mobile service.
d. Using the solution procedures shown in parts a, b, and c, the five number summaries
and outlier limits for the other three cell phone services are as follows.
e.
80
75
Rating
70
65
The box plots show that Verizon is the best cell phone service provider in terms of
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or in part.
overall customer satisfaction. Verizon’s lowest rating is better than the highest AT&T
and Sprint ratings and is better than 75% of the T-Mobile ratings. Sprint shows the
53. a. The median one-year total return is 13.9% (obtained from average the 25th and 26th
positions).
b. Twenty of the 50 companies, or 40%, had a one-year total return greater than the S&P
average return.
d. Returns less than –35.75 or greater than 69.45 are considered outliers. Thus, the
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or in part.
54.54.
The box plot shows the distribution of number of personal vehicle crossings is
skewed to the right (positive). Three ports of entry are considered outliers:
55. a.
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or in part.
70
60
50
40
y
30
20
10
0
0 5 10 15 20
x
b. Negative relationship
c/d. 40
x 40 x 8 y 230 230 46
5 y 5
i i
(xi x)( yi y)
(x i x)2 118 ( y y)2 520
240 i
(xi x )2 118
sx 5.4314
n 1 5 1
( yi y)2 520
sy 11.4018
n 1 5 1
s 60
rxy xy .969
sx sy (5.4314)(11.4018)
56. a.
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or in part.
18
16
14
12
10
y 8
6
4
2
0
0 5 10 15 20 25 30
x
b. Positive relationship
80 50
x 80 x y 50 y 10
c/d. i 16 i 5
5
i
(xi x)( yi y)
(x i x) 272
2
( y y)2 86
106
(xi x )2 272
sx 8.2462
n 1 5 1
( yi y )2 86
sy 4.6368
n 1 51
s 26.5
rxy xy .693
sx sy (8.2462)(4.6368)
57. a.
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or in part.
100.00
90.00
70.00
60.00
50.00
40.00
30.00
20.00
10.00
0.00
b. The scatter diagram shows a positive relationship with higher Apple stock prices
0.0020.0040.0060.0080.00100.00120.00140.00160.00180.00200.00
Apple Adjusted Stock Price
A positive covariance shows a positive relationship between the stock price of Apple
x
𝑛— 1 60 — 1
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or in part.
∑(𝑦i — 𝑦¯)2 3051.25
𝑠y = √ = √
𝑛— 1 60 — 1 = 7.191
The moderately strong positive correlation shows that the adjusted stock prices of
Apple and P&G tend to move together—that is, when the adjusted stock price of
Apple increases, so does the adjusted stock price of P&G. Because the adjusted stock
prices for these two companies tend to increase and decrease together, holding only
Apple and P&G stock in a portfolio could lead to a lot of volatility in the portfolio’s
y
n 1 10 1
A strong negative linear relationship exists. For driving speeds between 40 and 95
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or in part.
kilometers per hour, higher speeds are associated with lower kilometers per liter.
59. a. We would expect to see a negative relationship between smoke detector use and
deaths from home fires—that is, as more households have smoke detectors, warning
of a fire would help inhabitants escape and lead to fewer deaths from home fires.
b.
xi 14.28 yi 257.4
x84 . y 15.1412
n 17 n 17
x y (x x) (y (x x)2 ( y y)2 (x x )( y y)
y)
i i i i i i i i
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or in part.
0.92 13.0 0.08 –2.1412 0.0064 4.5846 –0.1713
s ( yi y)2 328.6612
4.5323
y
n 1 17 1
There is a strong negative correlation between smoke detector use and deaths from
home fires.
c.
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or in part.
25
20
10
0
0 0.2 0.4 0.6 0.8 1
Percentage of Homes with Smoke Detecetors
60. a.
40.00
30.00
20.00
Russell 1000
10.00
0.00
00‐10.000
.00‐30. 00‐20. 00‐10. ‐20.00
‐40 .00
‐30.00 10.00 20.00 30.00 40.00
‐40.00
‐50.00
DJIA
i x 227.57
(x x )2 5672.61 15.37
b. DJIA : x n 25
9.10 s i
(n 1) 24
x i
227.29
9.09 s
Russell 1000: x 17.89
n 25
(x x )2
i 7679.81
(n 1) 24
c. rx
y
sxy 263.611
s s .959
x y (15.37)(17.89)
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or in part.
d. Based on this sample, the two indexes are strikingly similar. They have a strong
positive correlation. The variance of the Russell 1000 is slightly larger than that of the
DJIA.
61. a.
100
90
80
4-yr Grad. Rate (%)
70
60
50
40
30
20
10
0
0 10 20 30 40 50 60 70 80 90
Admit Rate (%)
There appears to be a negative linear relationship between the two variables. In other
words, higher admission rates are associated with lower graduation rates.
1 0 11 3
2 0 12 3
3 1 13 3
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or in part.
4 1 14 4
5 1 15 4
6 1 16 5
7 1 17 5
8 2 18 6
9 3 19 6
10 3 20 7
p 75
L (n 1) (20 1) 15.75
75
100 100
e. Because most people dine out a relatively few times per week and a few families dine
out frequently, we would expect the data to be positively skewed. The skewness
measure of 0.34 indicates the data are somewhat skewed to the right.
f. The lower limit is –4.625, and the upper limit is 10.375. No values in the data are less
than the lower limit or greater than the upper limit, so there are no outliers.
63. a. 𝑖 = p
( 𝑛+ 1) = 50
(24) = 12 (12th position)
100 100
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or in part.
Previous coach median = 850,000
c. Standard deviation:
deviation.
64. a. The mean and median patient wait times for offices with a wait-tracking system are
17.2 and 13.5, respectively. The mean and median patient wait times for offices
b. The variance and standard deviation of patient wait times for offices with a wait-
tracking system are 86.2 and 9.3, respectively. The variance and standard deviation of
patient wait times for offices without a wait-tracking system are 275.7 and 16.6,
respectively.
c. Offices with a wait-tracking system have substantially shorter patient wait times than
37 17.2
e. z 2.13
9.3
As indicated by the positive z–scores, both patients had wait times that exceeded the
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or in part.
means of their respective samples. Even though the patients had the same wait time,
the z–score for the sixth patient in the sample who visited an office with a wait-
tracking system is much larger because that patient is part of a sample with a smaller
–0.31 1.49
2.28 –0.67
–0.73 –0.34
–0.55 0.09
0.11 –0.56
0.90 2.13
–1.03 –0.88
–0.37 –0.45
–0.79 –0.56
0.48 –0.24
The z–scores do not indicate the existence of any outliers in either sample.
x
x 148 7.4
i
65. a.
n 20
b. s2
58.8
(x i x) 3.09 s 3.09 1.76
2
(n 1) 19
x
x 20665 413.3
i
66. a.
n 50
c. i p 25
(n) (50) (13th position) Q1 = 384
12.5
100 100
p 75
i (n) (50)
37.5 (38th position) Q3 = 445
100 100
320
Automobile: x 32
10
Automobile: s = 1.83
c. Prefer the automobile. The mean times are the same, but the auto has less variability.
Public: 25 28 29 29 32 32 33 34 37 41
Auto: 29 30 31 31 32 32 33 33 34 35
Five-number summaries
Public:
24 28 32 36 40
Auto:
24 28 32 36 40
The box plots do show lower variability with automobile transportation and support
46.5 48.7 49.4 51.2 51.3 51.6 52.1 52.1 52.2 52.4 52.5 52.9 53.4 64.5
p 50
L (n 1) (14 1) 7.5
50
100 100
p 25
c. L (n 1) (14 1) 3.75
25
100 100
p 75
L (n 1) (14 1) 11.25
75
100 100
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or in part.
d. 46.5 50.75 52.1 52.6 64.5
xi 730.8
e. x 52.2
n 14
s 16.0092 4.0012
The z-scores =
xi
are shown below:
xs
–1.42 –0.87 –0.70 –0.25 –0.22 –0.15 –0.02 –0.02 0.00 0.05 0.07 0.17 0.30 3.07
The last household income (64.5) has a z-score > 3 and is an outlier.
Using this approach, the first observation (46.5) and the last observation (64.5) would
be consider outliers.
The two approaches will not always provide the same results.
Twenty-five percent of the restaurants have an average sales per unit less than or
equal to 879, and 25% of the restaurants have an average sales per unit greater than or
equal to 1,700.
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or in part.
There is one outlier corresponding to Chick-fil-A.
Burger 1440
Chicken 1456
Mexican 1329
Pizza/Pasta 730
Sandwich 1280
Snacks 1088
The table shows that the lowest average sales per unit is for the Pizza/Pasta segment.
xi 4368
70. a. x 364 rooms
n 12
5484
b. y $457
yi 12
n
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or in part.
c.
larger, there is no indication that the cost per night increases. The cost per night may
xi
(xi x) ( yi (x i x)2 ( yi (xi x )( yi y)
y) y)2
yi
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or in part.
343 455 –21 –2 441 4 42
174,13
d.
∑(𝑥i — 𝑥̅ )2 369,074
𝑠x = √ = √
𝑛— 1 11 = 183.17
𝑟xy
𝑠xy —6759.91
= 𝑠x𝑠y = (183.17)(125.82) = —.293
rooms and the cost per night for a double room. Although this is not a strong
relationship, it suggests that the higher room rates tend to be associated with the
smaller hotels.
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or in part.
This tends to make sense when we think about the economies of scale for
—exist for all hotels in the Travel + Leisure top 50 hotels in the world. The smaller
hotels tend to charge more for their rooms. The larger hotels can spread their fixed
costs over many rooms and may actually be able to charge less per night and still
achieve nice profits. The larger hotels may also charge slightly less in an effort to
obtain a higher occupancy rate. In any case, there is apparently a slightly negative
linear association between the number of rooms and the cost per night for a double
71. a.
2500
2000
Current Value ($ millions)
1500
1000
500
0
0 100 200 300 400 500 600
Revenue ($ millions)
b. The sample correlation coefficient is .96. This indicates a very strong linear
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or in part.
72. a.
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or in part.
(xi x )2 .1617
sx .1115
n 1 14 1
( yi y )2 .0623
sy .0692
n 1 14 1
s .0022
rxy xy .286
sx sy .1115(.0692)
b. There is a low positive correlation between a Major League Baseball team’s winning
percentage during spring training and its winning percentage during the regular
season. The spring training record should not be expected to be a good indicator of
Spring training consists of practice games between teams with wins and losses
not counted in the regular season standings and not affecting the teams’ chances of
making the playoffs. Teams use spring training to help players regain their timing and
to evaluate new players. Substitutions are frequent with regular or better players
rarely playing an entire spring training game. Winning is not the primary goal in
spring training games. A low correlation between spring training winning percentage
74.74.
fi Mi fi Mi Mi x ( Mi x)2 f i ( M x)2
i
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or in part.
150 93 13,950 –5.16 26.6256 3993.84
46, 625
a. x 98.16
475
29, 013.16
b. s2 61.21
474
s 61.21 7.82
75. a.
60%
50%
40%
30%
Annual Return (%)
20%
10%
0%
-10%
-20%
-30%
-40%
-50%
-60%
1853 1856 1859 1862 1865 1868 1871 1874 1877 1880
Year
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or in part.
It appears the Panama Railroad Company outperformed the New York Stock
Exchange annual average return of 8.4%, but the large drop in returns in 1870–71
So the mean annual return on Panama Railroad Company stock is 10.6%. During the
period of 1853–1880, the Panama Railroad Company stock yielded a return superior
Note that we could also calculate the geometric mean with Excel. If the
growth factors for the individual years are in cells C2:C30, then typing
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or in part.