Type:
Instructor Manual and Solution Manual
Resource:
Statistics for Business and Economics
Edition:
14th Edition
Author(s):
David Anderson Dennis Sweeney Thomas Williams Jeffrey Camm James Cochran
INSTRUCTOR’S SOLUTIONS MANUAL MARK DUMMELDINGER University of South Florida
S TATISTICS FOR B USINESS AND E CONOMICS
FOURTEENTH EDITION
James T. McClave University of Florida
P. George Benson College of Charleston
Terry Sincich University of South Florida
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ISBN-13: 978-0-13-685527-9 ISBN-10: 0-13-685527-X
Contents 1. Statistics, Data, and Statistical Thinking 1 2. Methods for Describing Sets of Data 10 3. Probability 90 4. Random Variables and Probability Distributions 138 5. Sampling Distributions 235 6. Inferences Based on a Single Sample: Estimation with Confidence Intervals 268 7. Inferences Based on a Single Sample: Tests of Hypotheses 311 8. Inferences Based on Two Samples: Confidence Intervals and Tests of Hypotheses 368 9. Design of Experiments and Analysis of Variance 431 10. Categorical Data Analysis 506 11. Simple Linear Regression 546 12. Multiple Regression and Model Building 623 13. Methods for Quality Improvement: Statistical Process Control 745 14. Time Series: Descriptive Analyses, Models, and Forecasting 810 15. Nonparametric Statistics 883
Chapter 1 Statistics, Data, and Statistical Thinking 1.1
Statistics is a science that deals with the collection, classification, analysis, and interpretation of information or data. It is a meaningful, useful science with a broad, almost limitless scope of applications to business, government, and the physical and social sciences.
1.2
Descriptive statistics utilizes numerical and graphical methods to look for patterns, to summarize, and to present the information in a set of data. Inferential statistics utilizes sample data to make estimates, decisions, predictions, or other generalizations about a larger set of data.
1.3
The four elements of a descriptive statistics problem are: 1. 2. 3. 4.
1.4
The population or sample of interest. This is the collection of all the units upon which the variable is measured. One or more variables that are to be investigated. These are the types of data that are to be collected. Tables, graphs, or numerical summary tools. These are tools used to display the characteristic of the sample or population. Identification of patterns in the data. These are conclusions drawn from what the summary tools revealed about the population or sample.
The five elements of an inferential statistical analysis are: 1. 2. 3. 4. 5.
The population of interest. The population is a set of existing units. One or more variables that are to be investigated. A variable is a characteristic or property of an individual population unit. The sample of population units. A sample is a subset of the units of a population. The inference about the population based on information contained in the sample. A statistical inference is an estimate, prediction, or generalization about a population based on information contained in a sample. A measure of reliability for the inference. The reliability of an inference is how confident one is that the inference is correct.
1.5
The first major method of collecting data is from a published source. These data have already been collected by someone else and are available in a published source. The second method of collecting data is from a designed experiment. These data are collected by a researcher who exerts strict control over the experimental units in a study. These data are measured directly from the experimental units. The final method of collecting data is observational. These data are collected directly from experimental units by simply observing the experimental units in their natural environment and recording the values of the desired characteristics. The most common type of observational study is a survey.
1.6
Quantitative data are measurements that are recorded on a meaningful numerical scale. Qualitative data are measurements that are not numerical in nature; they can only be classified into one of a group of categories.
1.7
A population is a set of existing units such as people, objects, transactions, or events. A variable is a characteristic or property of an individual population unit such as height of a person, time of a reflex, amount of a transaction, etc. 1 Copyright © 2022 Pearson Education, Inc.