Statistics for Management and Economics ED.XI Gerald Keller
Test bank 2021
Chapter 1 1.2 Descriptive techniques summarize data. Inferential techniques draw inferences about a population based on sample data.
1.3 a The population is the 25,000 registered voters. b The sample is the 200 registered voters. c The 48% figure is the statistic
1.4 a The population is the complete production run. b The sample is comprised of the 1,000 chips. c The parameter is the proportion of defective chips in the production run. d The statistic is the proportion of defective chips in the sample. e The 10% figure refers to the parameter. f The 7.5% figure refers to the statistic. g We can estimate the population proportion is 7.5%. Statistical inference methods will allow us to determine whether we have enough statistical evidence to reject the claim.as the sample proportion.
1.5 Draw a random sample from the population of graduates who have majored in your subject and a random sample of graduates of other majors and record their highest salary offers.
1.6 a Flip the coin (say 100 times) and record the number of heads (assuming that you are interested in the number of heads). b The population is composed of the theoretical result of flipping the coin an infinite number of times and recording either “heads” or “tails”. c The sample is comprised of the “heads” and “tails” in the sample. d The parameter is the proportion of heads (again assuming that your interest is the number of heads rather than tails) in the population. e The statistic is the proportion of heads (or tails depending on the choice made in part d). f The sample statistic can be used to judge whether the coin is actually fair.
1.7 a We would conclude that the coin is not fair. b We may conclude that there is some evidence that the coin is not fair.
1.8 a The population is made up of the propane mileage of all the cars in the fleet. b The parameter is the mean propane mileage of all the cars in the fleet. c The sample is composed of the propane mileage of the 50 cars.
d The statistic is the mean propane mileage of the 50 cars in the sample. e We can use the sample statistic to estimate the population parameter.
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 e Interval
2.7 a Interval b Nominal c. Nominal
5
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
6
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%
United States, 2.3% United Arab Emirates, 6.3%
Venezuela, 19.1%
Canada, 11.0%
China, 1.6%
Iran, 10.1% Iraq, 9.2% Saudi Arabia, 17.2% Kazakhstan, 1.9% Libya, 3.1% Russia, 6.6%
Qatar, 1.6%
Kuwait, 6.7%
Nigeria, 2.4%
2.15
7
2.16 Residual fuel oil 3%
Marketable coke 5% Still gas 5%
Liquified Lubricants refinery 1% gas 3%
Asphalt and road oil 2%
Jet fuel 13%
Gasoline 51%
Distillate fuel oil 15%
2.17
8
Other 2%
United States
United Kingdom
Spain
Thailand
South Korea
Singapore
Saudi Arabia
Russia
Japan
Mexico
Italy
Iran
Indonesia
India
France
Germany
China
Brazil
Canada
Australia
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
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
Australia Brazil Canada China European Union France Germany India Italy Japan Korea, South Mexico Russia Saudi Arabia South Africa Spain Taiwan Turkey United Kingdom United States
0
2.18 9000.0 7706.8
8000.0 7000.0
5424.5
6000.0 5000.0 4000.0 3000.0 1591.1
2000.0 1000.0
417.7 541.0
765.6
528.6 407.9
1098.0
1556.7
528.1 443.6
0.0
2.19
9
438.2 451.2 519.9