statistical techniques in business and economics 15e, by lind solutions manual & test bank

Lind - Statistical Techniques in Business and Economics - 15e,solutions manual & test bank for ISBN 0073401803 

Chapter 2

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

1.   Pepsi-Cola has a 25% market share, found by 90/360.  (LO 3)

      

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

3.    There are four classes:  winter, spring, summer, and fall.

       The relative frequencies are 0.1, 0.3, 0.4, and 0.2, respectively. (LO 1)

4.    (LO 1)

City	Frequency	Relative Frequency
Indianapolis	100	0.05
St. Louis	450	0.225
Chicago	1300	0.65
Milwaukee	150	0.075

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.

       c.

            d.  350,000 orange; 250,000 lime; 220,000 red; 100,000 white, and 80,000 black, found by multiplying relative frequency by 1,000,000 production.  (LO 3)

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.  (LO 2)

7.     therefore 6 classes  (LO 4)

8.    2⁵ = 32, 2⁶ = 64 suggests 6 classes.   Use interval of 5. (LO 4)

9.    2⁷ = 128, 2⁸ = 256 suggests 8 classes   Use interval of 45. (LO 4)

10.  a.    2⁵ = 32, 2⁶ = 64 suggests 6 classes.

b.                       Use interval of 15 and start first class at 40. (LO 4)

11.       a.         2⁴ =16 suggests 5 classes

b.                Use interval of 1.5

c.                24

d.                    f      Relative frequency

            24 up to 25.5    2                    0.125

            25.5 up to 27    4                    0.250

            27 up to 28.5    8                    0.500

            28.5 up to 30    0                    0.000

            30 up to 31.5    2                    0.125

            Total              16                    1.000

       e.    The largest concentration is in the 27 up to 28.5 class (8).  (LO 5)

12.  a.    2⁴ = 16, 2⁵ = 32, suggest 5 classes

       b.          Use interval of 10.

c.      50

d.                    f      Relative frequency

            50 up to 60       4                      0.20

            60 up to 70       5                      0.25

            70 up to 80       6                      0.30

            80 up to 90       2                      0.10

TEST bank  for ch2 Key
 

1.	A frequency distribution groups data into classes showing the number of observations in each class.    TRUE

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-04 Create a frequency distribution for a data set. Lind - Chapter 02 #1 Topic: Frequency Distribution Concepts

2.	A frequency distribution for qualitative data has class limits.    FALSE

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-01 Make a frequency table for a set of data. Lind - Chapter 02 #2 Topic: Constructing Frequency Distributions: qualitative data

3.	To summarize the gender of students attending a college, the number of classes in a frequency distribution depends on the number of students.    FALSE

AACSB: Communication Abilities Blooms: Comprehension Difficulty: Easy Learning Objective: 02-01 Make a frequency table for a set of data. Lind - Chapter 02 #3 Topic: Constructing Frequency Distributions: qualitative data

4.	In frequency distributions, classes are mutually exclusive if each individual, object, or measurement is included in only one category.    TRUE

AACSB: Communication Abilities Blooms: Analysis Difficulty: Easy Learning Objective: 02-04 Create a frequency distribution for a data set. Lind - Chapter 02 #4 Topic: Frequency Distribution Concepts

5.	In a bar chart, the x-axis is labeled with the values of a qualitative variable.    TRUE

AACSB: Communication Abilities Blooms: Analysis Difficulty: Easy Learning Objective: 02-02 Organize data into a bar chart. Lind - Chapter 02 #5 Topic: Constructing Frequency Distributions: qualitative data

6.	In a bar chart, the heights of the bars represent the frequencies in each class.    TRUE

AACSB: Communication Abilities Blooms: Analysis Difficulty: Easy Learning Objective: 02-02 Organize data into a bar chart. Lind - Chapter 02 #6 Topic: Constructing Frequency Distributions: qualitative data

7.	The midpoint of a class, which is also called a class mark, is halfway between the lower and upper limits.    TRUE

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-04 Create a frequency distribution for a data set. Lind - Chapter 02 #7 Topic: Constructing Frequency Distributions: quantitative data

8.	A class interval, which is the width of a class, can be determined by subtracting the lower limit of a class from the lower limit of the next higher class.    TRUE

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-04 Create a frequency distribution for a data set. Lind - Chapter 02 #8 Topic: Constructing Frequency Distributions: quantitative data

9.	To convert a frequency distribution to a relative frequency distribution, divide each class frequency by the sum of the class frequencies.    TRUE

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-05 Understand a relative frequency distribution. Lind - Chapter 02 #9 Topic: Relative Frequency Distributions

10.	To convert a frequency distribution to a relative frequency distribution, divide each class frequency by the number of classes.    FALSE

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-05 Understand a relative frequency distribution. Lind - Chapter 02 #10 Topic: Relative Frequency Distributions

11.	A pie chart is similar to a relative frequency distribution.    TRUE

AACSB: Communication Abilities Blooms: Analysis Difficulty: Medium Learning Objective: 02-03 Present a set of data in a pie chart. Lind - Chapter 02 #11 Topic: Constructing Frequency Distributions: qualitative data

12.	A pie chart shows the relative frequency in each class.    TRUE

AACSB: Communication Abilities Blooms: Analysis Difficulty: Medium Learning Objective: 02-03 Present a set of data in a pie chart. Lind - Chapter 02 #12 Topic: Constructing Frequency Distributions: qualitative data

13.	To construct a pie chart, relative class frequencies are used to graph the "slices" of the pie.    TRUE

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-03 Present a set of data in a pie chart. Lind - Chapter 02 #13 Topic: Constructing Frequency Distributions: qualitative data

14.	A cumulative frequency distribution is used when we want to determine how many observations lie above or below certain values.    TRUE

AACSB: Communication Abilities Blooms: Comprehension Difficulty: Easy Learning Objective: 02-07 Construct and interpret a cumulative frequency distribution. Lind - Chapter 02 #14 Topic: Cumulative Frequency Distribution

15.	A frequency polygon is a very useful graphic technique when comparing two or more distributions.    TRUE

AACSB: Communication Abilities Blooms: Application Difficulty: Easy Learning Objective: 02-06 Present data from a frequency distribution in a histogram or frequency polygon. Lind - Chapter 02 #15 Topic: Constructing Frequency Distributions: quantitative data

16.	Monthly commissions of first-year insurance brokers are $1,270, $1,310, $1,680, $1,380, $1,410, $1,570, $1,180 and $1,420. These figures are referred to as:    A.  histogram. B.  raw data. C.  frequency distribution. D.  frequency polygon.

AACSB: Communication Abilities Blooms: Knowledge Difficulty: Easy Learning Objective: 02-04 Create a frequency distribution for a data set. Lind - Chapter 02 #16 Topic: Constructing Frequency Distributions: quantitative data

17.	A small sample of computer operators shows monthly incomes of $1,950, $1,775, $2,060, $1,840, $1,795, $1,890, $1,925 and $1,810. What are these ungrouped numbers called?    A.  Histogram B.  Class limits C.  Class frequencies D.  Raw data

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